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Biden looking to address oil refinery capacity, White House adviser says -Breaking


© Reuters. FILE PHOTO. U.S. President Joe Biden speaking during the first plenary session of the Ninth Summit of the Americas, Los Angeles, California (USA), June 9, 2022. REUTERS/Daniel Becerril

WASHINGTON (Reuters] -The President of the United States, Joe Biden, is exploring ways to import more oil amid rising fuel costs. This includes working on improving oil refinery capacity. Cecelia Rouse White House economic adviser said that Friday.

He is seeking administrative assistance, and whether it’s dealing with oil companies or refineries, Rouse said, “We acknowledge your back capacity problems – how can we help you keep your refining capacities and bring more oil online?” In an interview with CNN, Rouse, who is the chair of White House Council on Economic Advisers said that.

A U.S. official stated last week that the White House was considering taxing oil and gas profits. Rouse was asked about the tax and whether it would be possible to lift some China tariffs.

She stated that she wanted to make sure that the U.S. workforce and businesses are benefited by the strategy. However, that was certainly an option.

Some ideas will require collaboration with Congress, she stated.

Biden has come under intense pressure to ease price pressures, especially for gasoline, before November’s midterm elections with his Democratic Party’s control of Congress on the line.