michael wirth answered that we should not blame others, but change the approach to state regulation. biden. he also called on refineries to turn more oil into gasoline and scheduled an emergency meeting for today with representatives of the largest plants, the oil and gas industry. could lower prices to normal levels when the cost of accidents was lower so, for example, right now the price per barrel has fallen about $10 since last week. so that 's about $110 a barrel. usually when you see that drop it's $10 a bar. the rule is that you will see a 25 cent drop in the price of gas stations, so we are going to ask why this has not happened yet and when it does, the head of the white house promised that states will produce record volumes of oil next year according to his data. now the country produces 12 million barrels of oil per day. this is more than under its predecessor plans to add another 1 million barrels per day for strategic oil reserves. meanwhile, the capacity for oil refining in the us last year declined for the second year in a row. but after that, i think it will be a fair

michael wirth answered that we should not blame others, but change the approach to state regulation.iden. he also called on refineries to turn more oil into gasoline and scheduled an emergency meeting for today with representatives of the largest plants, the oil and gas industry. could have lowered prices to normal levels when the price per barrel was lower so for example, right now the price per barrel has dropped by about $10 since last week. so that 's about $110 a barrel. usually when you see that drop it's $10 a bar. the lyrical rule is that you will see a drop in the price of gas stations by 25 cents, so we are going to ask why this has not happened yet and when it does, the head of the white house promised that the states will produce record volumes of oil next year according to his data, now the country produces 12 million bar or oil per day. this more than under its predecessor plans to add another 1 million barrels per day for strategic oil reserves. meanwhile, the capacity for oil refining in the us last year declined for the second year in a row. but after that, i think i

michael wirth answered that we should not blame others, but change the approach to state regulation.turn more oil into gasoline and scheduled an emergency meeting with representatives of the largest refineries for today. the oil and gas industry could lower prices to normal levels when the price per barrel was lower so for example, right now the price per barrel has fallen about $10 since last week. so it 's about $110 a barrel. normally when you see that $10 a barrel drop the rule of thumb is that you'll see a 25 cent drop in the gas station price so we 're going to ask why it hasn't happened yet and when it will, head white at home , he promised that the states would produce record volumes of oil next year, according to him, now the country produces 12 million barrels of oil per day. this is more than with its predecessor in the plans add another 1 million barrels a day for strategic oil reserves bears oil refining capacity in the us last year declined for the second year in a row. but after that, i think it will be a fairly significant plateau in terms of growth, because for many

to feel that right now and for people to to vegas in an open letter to joe biden, chevron ceo michael wirth wrote here administration has largely sought to criticize and at times to vilify our industry. no these actions are notha beneficial to meeting the challenges well face. well, biden was asked about this today and got a big testy in that the administration would need to take a change in approach in order to make progress on reducing energy prices and to increase whataboutism reaction to that third party . suzume, i didn't know they did their future quickly. look, we>> need more refining capacity. even the washington post had to admit how wrong biden is writing that oil refineries across america are beingngl retired and converted to other uses as america pivots away from fossil fuelsm , investors are hardly jumping at the opportunity to enter the sector as the administrations environmental priorities would make many refineries obsolete in the not too distant future. here now isst michael shellenberger, best selling author of apocalypse apocalypse never michael . o thesef are easily prov

whether it's carb hohydrates lie food or hydrocarbons >> chevron's ceo got in a back and forth, michael wirththoughtful points just to say look, at chevron, we are increasing our production and gave pretty significant numbers that showed that we're increasing capital expenditures to about $18 billion this year. that's what would you expect to see, that industry will chase these higher prices. how long before things like that will actually start to help out in terms of oil prices or gasoline prices >> this is a global problem, not a local problem. and chevron is a microcosm in a bigger cog let's look at the european companies, bp, shell they have wind fall profit taxes and a bunch of other regulatory and policy imposed on them making it very difficult for them to do the same thing that chevron's doing. i applaud chevron. i think they're making great strides as well as the u.s. companies. but let's think about that what makes commodities really different from any other asset class? they are truly global in nature. that's part of the reason i'm sitting here in london these global markets >> so i