https://sputnikglobe.com/20230406/recent-opec-cuts-prove-bidens-reliance-on-foreign-oil-risks-us-security-1109213782.html
Recent OPEC+ Cuts Prove Biden's Reliance on Foreign Oil Risks US Security: Texas Oil Regulator
Recent OPEC+ Cuts Prove Biden's Reliance on Foreign Oil Risks US Security: Texas Oil Regulator
Sputnik International
The latest oil production cuts announced by the OPEC+ countries underscore that President Joe Biden's reliance on foreign oil puts US security at risk, Texas Railroad Commission (RRC) Chairwoman Christi Craddick told Sputnik.
2023-04-06T16:01+0000
2023-04-06T16:01+0000
2023-04-06T16:29+0000
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OPEC+ cut oil production by 9.7 million barrels per day in May 2020 due to a decrease in oil demand caused by the COVID-19 pandemic measures. In August 2022, the alliance started the final stage of canceling the cuts, but in November it cut the production once again by 2 million barrels per day from the maximum possible level of August. This decision is valid until the end of 2023.US President Joe Biden must abandon his energy policies that hamper US energy production potential and allow US energy firms to produce more that can benefit the world, Craddick told Sputnik.Craddick's remarks come in light of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) announcement earlier this week about an additional voluntary oil production cut in Russia, Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, Oman, and Gabon, which will amount to 1.66 million barrels per day by the end of 2023.Biden's clean energy ambitions have discouraged new investment in oil production in the United States while he has used the US Strategic Petroleum Reserve to help lower gas prices in the country, but brought the supply to record lows.
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opec+, opec + cuts, joe biden, reliance of foreign oil, us reliance of foreign oil
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Recent OPEC+ Cuts Prove Biden's Reliance on Foreign Oil Risks US Security: Texas Oil Regulator
16:01 GMT 06.04.2023 (Updated: 16:29 GMT 06.04.2023) WASHINGTON (Sputnik) - The latest oil production cuts announced by the OPEC+ countries underscore that President Joe Biden's reliance on foreign oil puts US security at risk, Texas Railroad Commission (RRC) Chairwoman Christi Craddick told Sputnik. The RRC is the industry regulator in the top oil-producing US state of Texas.
OPEC+ cut oil production by 9.7 million barrels per day in May 2020 due to a decrease in oil demand caused by the COVID-19 pandemic measures. In August 2022, the alliance started the final stage of canceling the cuts, but in November it cut the production once again by 2 million barrels per day from the maximum possible level of August.
This decision is valid until the end of 2023.
"The latest action by OPEC+ only further solidifies what we've known all along about President Biden's reliance on foreign oil - it is dangerous and puts American security at risk," Craddick said.
US President Joe Biden must abandon his energy policies that hamper US energy production potential and allow US energy firms to produce more that can benefit the world, Craddick told Sputnik.
"Biden needs to stand down on his disastrous energy policies that cripple domestic production, and instead allow American operators, especially those in Texas, to produce the energy that powers the nation and the world," she said.
Craddick's remarks come in light of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) announcement earlier this week about an additional voluntary oil production cut in Russia, Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, Oman, and Gabon, which will amount to 1.66 million barrels per day by the end of 2023.
Biden's clean energy ambitions have discouraged new investment in oil production in the United States while he has used the US Strategic Petroleum Reserve to help lower gas prices in the country, but brought the supply to record lows.
