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The Guardian - UK
The Guardian - UK
World
Nicola Slawson

First Thing: Biden implores US oil companies to pass on record profits

Donald Trump Oil E Jean Carroll United States Vladimir Putin Joe Biden Suella Braverman Gas Prices MacKenzie Scott Ukraine
Biden Announces More Steps To Try To Lower Gas Prices - Washington - 19 Oct 2022Mandatory Credit: Photo by Pool/ABACA/REX/Shutterstock (13479835k) US President Joe Biden speaks in the Roosevelt Room of the White House in Washington, DC, USA, on Wednesday, October 19, 2022. The Biden administration plans to release 15 million barrels from US emergency reserves, and may consider significantly more this winter, in an effort to ease high gasoline prices that have become a liability for Democrats in next month's midterm elections. Biden Announces More Steps To Try To Lower Gas Prices - Washington - 19 Oct 2022
Joe Biden. ‘You should not be using your profits to buy back stock or for dividends,’ he has told oil companies. Photograph: Abaca/Rex/Shutterstock

Good morning.

Joe Biden has called on oil companies to pass on their massive profits to consumers as he announced the release of 15m barrels of oil from the US strategic petroleum reserve.

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