Biden's war with Exxon over fuel exports

ExxonMobil and the Biden administration are feuding over fuel exports after Energy Secretary Jennifer Granholm asked industry to limit its shipments abroad amid high fuel prices.

This week, Exxon CEO Darren Woods wrote a letter to the administration, apparently disagreeing with its position that limiting exports would help U.S. consumers.

“Continuing current Gulf Coast exports is essential to efficiently rebalance markets—particularly with diverted Russian supplies,” said the letter, according to The Wall Street Journal. “Reducing global supply by limiting U.S. exports to build region-specific inventory will only aggravate the global supply shortfall.”