With record gas prices and supply chain issues delaying production of new cars, more people are looking for cars with better mileage. This means more business for used car dealers.
Texas Governor Greg Abbott is asking the Biden administration to halt a plan he said would threaten a large portion of Oil production of the nation Gas prices will increase even more.
In a letter sent to Biden on Monday, Abbott, a Republican, cited the Environmental Protection Agency’s (EPA) plan to force a discretionary renaming of the Permian Basin, which is in Texas and New MexicoIt represents 40% of all oil produced in the United States
“While you express your concern about out-of-control gas prices, your country’s Environmental Protection Agency threatens to increase those prices even more,” the letter read. “The EPA operation could interfere with oil production in Texas which could drive up prices at the pump by reducing production or increasing the cost of that production or both. The action your administration has declared is entirely discretionary. Thus, you have the power to stop it.”
The Environmental Protection Agency recently announced plans to tighten air quality standards in the aquarium, a move that could lead to “strict regulations,” Abbott said.
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An oil pump is seen working in the Permian Basin near Midland, Texas. Texas Governor Greg Abbott is asking the Biden administration to halt a plan in the basin that he said could lead to higher gas prices. (Reuters/Reuters Photo)
“The EPA is now considering an estimated redesign (of portions) of these counties in New Mexico and Texas for 2015 ozone under the Clean Air Section 107(d)(3) clean air act based on current monitoring data and other air quality factors,” the Biden administration wrote. “If the area is re-allocated to non-verification, the state(s) will be required to submit a state implementation plan to achieve the area with the 2015 Ozone NAAQS.”
The pelvis is responsible for 5.2 million barrels of oil per day, which can be processed into about 95,000,000 gallons of gasoline each day, Abbott said.
“If you allow the EPA to proceed with the inappropriate and unnecessary measures accompanying the redesign, that action will put 25 percent of America’s oil supply at risk,” the letter said. This, in turn, could lead to a significant increase in the cost of gasoline.”
He said he wanted a response by July 29. If the EPA moves forward, Texas will take action to protect oil production and ” the gasoline that comes from it, “ The governor said.
United Refining Chairman and CEO John Catsimatidis, who is also the billionaire and CEO of New York City supermarket chain Gristedes, is considering whether inflation could start to fall soon.