The two major energy giants in the United States refuse to increase oil production

CryptoWorld News reports that ExxonMobil and Chevron have refused the White House’s call for increased production, defying the U.S. government’s request. Currently, the U.S. government is working hard to address the most severe energy crisis in decades. ExxonMobil CFO Neil Hansen stated that the company’s strategy in the Permian Basin, a major U.S. oil and gas production area, “remains unchanged.” Chevron CFO Amy Bohns said, “This crisis has not caused any of our plans to change.” The Iran conflict has led to a sharp decline in oil output in the Gulf region and has impacted refining operations in the Middle East and other areas, potentially exacerbating global inflation. The U.S. government has released strategic petroleum reserves and called on the industry to increase drilling activities, but these two American super-energy giants still adhere to their pre-war strategies. Hansen said, “We really don’t need to accelerate because our production is already high and operating at full speed.” Bohns added, “Our strategy is to increase free cash flow, not to boost production.”