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Biden urges energy companies to lower costs for consumers

Published 09/22/2022, 01:27 PM
Updated 09/22/2022, 01:31 PM
© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks prior to signing "the Sergeant First Class Heath Robinson Honoring our Promises to Address Comprehensive Toxics (PACT) Act of 2022," in the East Room of the White House, in Washington, U.S., August 10,

WASHINGTON (Reuters) - U.S. President Joe Biden on Thursday pressed the U.S. energy industry to lower costs for consumers who had been stung by high gasoline prices, citing record company profits.

"Gas prices fell by $1.30 this summer, that's good news for families. But energy companies are making record profits and retailer margins are 30% above normal," Biden wrote on Twitter (NYSE:TWTR). "That’s money that should be in folks' pockets. Industry must pass savings on to consumers by lowering prices. Now."

Latest comments

Hey Biden, Everyone in the US is suffering because of inflation that you caused . You can't fix stupid and Biden and Dems prove that everyday.
Inflation is coming from Russia.
So forgot about supply and demand?
  Who are you quoting?
  US productions of crude & nat gas (at all-time-high) have been trending up under Biden.
Hmmm.   carlos quit his account rather than answer  me.
He is only good at sprinkling freebies to lazy folks by harassing hard working earners. All r just for another term.
Trump boasted he gave China tariffs paid by US earners to US farmers to do nothing.
the usa is a broken embarassing dying empire in decline
Not very original, are you?
Gee, would you look at the price of lithium. Crickets.
so when they have record losses - going to help them out? no? then hesh up
These old time companies work hard for the money and they know they must pay down their debt and then save for a rainy day. When the going gets rough, they never get helped by a Chips Act or a Inflation Injection Act.
He declared war on them. Why would they help him?
it won't let me give you a thumbs up 🤔
What war?  US productions of crude & nat gas (at all-time-high) have been trending up under Biden.
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