[Asia Economy New York=Special Correspondent Joselgina] U.S. President Joe Biden warned on the 28th (local time) about the possibility of rising oil prices due to the northward movement of Hurricane Ian, which is expected to make landfall in Florida. He also urged oil companies to act quickly and lower prices.
According to the White House, President Biden mentioned the danger of Hurricane Ian during a commemorative speech at the "Hunger, Nutrition, and Health" conference held in Washington DC, stating, "A temporary storm cannot be an excuse for affecting gas prices."
President Biden emphasized, "It does not make sense to raise gas prices using the hurricane as an excuse," and added, "We will closely monitor oil prices." Earlier, President Biden had repeatedly pointed out that "ExxonMobil made more money last year than God," highlighting the huge profits oil companies are making due to rising oil prices.
He also warned, "Americans are watching to see if the refining industry will do the right thing," and said, "Oil companies need to act quickly." He continued, "Crude oil prices are relatively low and continue to decline," and added, "Product prices should also decrease."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
