U.S. Oil Producer To Biden: Don’t Ask OPEC To Increase Production-ASK US!
A Year Ago America Was An Oil Exporter
by Jeff Dunetz | Nov 16, 2021 | Economy
With energy prices spiking, President Biden went to OPEC and asked them to produce more oil. American energy companies tell Biden he can get the oil cheaper and faster by removing restrictions and asking American companies to produce more oil.
In 2020 the last year of the Trump presidency, the American economy reached a long-desired goal, energy independence. However, during Biden’s first days in the White House, he signed executive orders stopping drilling on federal land, including the much-desired drilling at ANWR in Alaska. He canceled the Keystone XL pipeline and recently announced is considering shutting down the L5 pipeline running from Michigan to Canada. . These executive orders sent energy companies a message that he intended to keep his promise to kill the fossil fuel industry. don’t ask OPEC
Worried their businesses were facing attacks from team Biden, energy companies became reluctant to commit more money into new oil and gas production. Also, institutional investors who have traditionally invested in fossil fuel companies have become energy woke. They have cut them out of investment portfolios entirely,
https://lidblog.com/dont-ask-opec/
