"White House Eyes Restarting Idle Refineries"

"The Biden administration is reaching out to the oil industry to inquire about restarting shuttered refineries, as the White House scrambles to address record-high gasoline prices that are setting off political alarm bells ahead of the midterm elections.

Members of the National Economic Council and other officials have inquired within the industry about factors that led some refining operations to be curtailed and if plans are underway to restart capacity, a person familiar with the matter said. The person, who wasn’t authorized to speak on the record, added no direct ask to restart operations was made.

The White House didn’t immediately respond to a request for comment.

The administration’s efforts come as the average price of a gallon of regular unleaded gasoline stood at a record $4.60 May 25, just as the summer driving season is set to begin. In California, prices are more than $6 a gallon, according to AAA."

Ari Natter reports for Bloomberg News May 26, 2022.

Source: Bloomberg, 05/27/2022