️🇺🇸 US Secretary of Energy Chris Wright on gasoline prices:
wrote:
"Exxon Mobil and Chevron in recent weeks. Record profits and record investment in refining capacity to help make America truly energy independent. Are they moving fast enough for you? ".
Chris Wright:
“Well, the Trump administration and President Trump himself are moving very quickly. He is focused on massively increasing energy production in the US. But remember, just in the last 12 months, Gavin Newsom has shut down two major refineries in California.
We work with producers to restart closed refineries, to expand existing refineries. and look This is what capitalism is all about. The markets also send this price mechanism. The prices are high. The best cure for high prices is high prices. This increases the supply. And so the supply increases. We export more refined products from the Arabian Gulf. We are going to see more coming out of India. We're going to see more coming out of the United States. Gasoline and diesel prices peaked in September. They are on the way down, and they will continue to drop significantly in the coming months."