U.S. Administration Sending Mixed Messages on Oil and Natural Gas

White House recently called on OPEC and its allies to increase oil production to alleviate rising gas prices.

President Biden has made clear that he wants Americans to have access to affordable and reliable energy, including at the pump. Although we are not a party to OPEC, the United States will always speak to international partners regarding issues of significance that affect our national economic and security affairs, in public and private. We are engaging with relevant OPEC+ members on the importance of competitive markets in setting prices. Competitive energy markets will ensure reliable and stable energy supplies, and OPEC+ must do more to support the recovery. According to statement by National Security Advisor Jake Sullivan on the Need for Reliable and Stable Global Energy Markets

Todd Staples, president of the Texas Oil & Gas Association Comments;

“Our nation is the leading producer of oil and natural gas providing affordable and reliable energy. Our companies employ millions of Americans and are the primary funders in many states of roads, schools, universities and economic stabilization funds, yet the Biden Administration has cancelled energy infrastructure projects and suspended federal oil and natural gas leasing permits. And now the Administration wants to count on OPEC+ to increase production to bring stability to energy markets. Why promote jobs in other countries and not American jobs? Why rely on other countries while hamstringing our own energy sector?”

“The best way to ensure Americans and our trade partners have access to clean, affordable and reliable energy is to encourage homegrown, domestic energy that supports jobs and economic growth, while continuing our commitment to environmental progress,” said Staples.

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