The Biden Administration’s calls for U.S. refiners to limit their fuel exports would only lead to a more severe crunch overseas which will push crude oil prices and gasoline prices in America higher, U.S. supermajor ExxonMobil has warned. In August, amid low inventories at home, the Biden Administration urged American refiners to limit their fuel exports, according to a letter U.S. Energy Secretary Jennifer Granholm had sent to seven big refiners obtained by The Wall Street Journal. “Given the historic level of U.S. refined product exports, I again urge you to focus in the near term on building inventories in the United States, rather than selling down current stocks and further increasing exports,” Secretary Granholm wrote in the letter, according to the Journal . Commenting on the Administration’s calls for lower fuel exports, Exxon’s chief executive Darren Woods wrote this week in a letter to the U.S. Department of […]

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