US President Joe Biden Gives Message to Oil Companies
US PRESIDENT JOE BIDEN – The President of the United States called on oil companies to lower the prices of fuel.
Currently, there is a global oil problem that is affecting several nations across the globe. The ongoing war between Russia and Ukraine is considered one of the biggest contributors to the problem. There is insufficient supply of oil that does not meet the global demand.
Previously, several oil reserves including those in Japan were released to help address the oil problem across the globe. The situation has led the prices of oil products including fuel to soar thus affecting the household level.
In the United States, US President Joe Biden recently made a call to oil companies amid the high fuel prices in the country. He asked oil companies for lower fuel costs.
Based on a report on ABS-CBN News, US President Joe Biden emphasized to companies operating the gas stations and setting the fuel prices that “this is a time of war and global peril”. He asked the company owners to bring down the fuel costs and make it reflective of their expenses for the product.
According to the report, the United States President has regularly critized oil companies. According to the him, their only concern is their profits and not the welfare of the average consumers. As for the oil companies, the costs they are implementing are based on the world market and are subject to factors that are out of their control.
Several nations now are having problem with high fuel costs. Many people are expressing their sentiments that the high oil prices have greatly affected their household budget that it no longer fits to their needs. The Philippines is one of the nations greatly affected by the global oil problem.
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