Posted on 02/25/2022 5:47:07 AM PST by rktman
Major U.S. oil and gas industry groups urged the Biden administration Thursday to boost domestic energy production amid the ongoing Russian invasion of Ukraine.
On Thursday, the global price of oil surged past $100 per barrel for the first time in nearly eight years after Russia unleashed a full-scale offensive against Ukraine. Oil prices are the largest factor in determining gas prices for fossil fuel companies.
Russia provided more oil to the U.S. than any other country except Canada between January 2021 and November 2021, U.S. Energy Information Administration data showed. The country, which exported nearly 65% of the 10.5 million barrels of crude oil per day it drilled in 2020, is Europe’s largest oil supplier as well.
On Thursday, President Joe Biden unveiled another round of economic sanctions targeting Russia along with Western allies. The president acknowledged during remarks at the White House that energy costs, including pump prices, may increase as a result of the sweeping sanctions package, but he said it was critical to respond aggressively to Russia.
“API condemns Russia’s invasion into Ukraine, and American natural gas and oil producers have a critical role to play in supporting our European allies with access to a stable supply of reliable and affordable energy,” American Petroleum Institute (API) President and CEO Mike Sommers said in a statement.
“With both geopolitical tensions and energy costs rising, American energy leadership can serve as a stabilizing force while strengthening global energy security,” Sommers said. “Our industry is committed to working with the administration to do everything possible to minimize any impacts on U.S. consumers while supporting our allies overseas.”
(Excerpt) Read more at dailycallernewsfoundation.org ...
Ya think??
Brandon will NEVER recind the EO on the XL pipeline.
No matter how much pain and damage it causes US.
But we should all FEEL better about ourselves for stopping glow bull discombobulation.
We should be doing it, regardless of actions in Ukraine because its in the interest of the United States to have a healthy productive energy sector.
However, “Big Green” and their lobbyists plus voter environmental zealotry... just say:
No
No
No
No
No
Its what they’re good at, saying “No” and being non productive parasites & obstructionists.
I wish I had the power to stop the use of all fossil fuels used to support the “Green” movement.
I’m a country boy and I will survive. Thankfully the “Greens” won’t.
Who are these people? My 12 year old knew that.
Brandon couldn’t make more wrong decisions if he was trying....which makes me believe he is trying.
The Keystone Pipeline would have provided about 50% more oil than we get from Russia. But Biden bowed to the extreme left and shut down the Keystone pipeline.
Brandon, you f'n moron!
Let us--the USA--explore, drill, pump and flow!
THAT will minimize the pain.
That was done to benefit Warren Buffet’s railroads.
We were there a little over a year ago. Now? Work like the devil Brandon.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.