HNewsWire- On Sunday evening, crude oil prices reached a high of $130.50 per barrel.
Jen Psaki, the White House press secretary, shared a series of talking points on social media, arguing against an emphasis on increasing domestic oil output.
“It serves as a warning that true energy security requires us to reduce our reliance on fossil fuels,” Psaki said, saying that Russia’s continuing invasion of Ukraine was forcing oil prices to increase.
Psaki reacted angrily to Republican calls for more domestic oil output.
She stated that although domestic oil output had increased during the coronavirus epidemic, the US remained subject to global oil markets.
“[D]omestic production has not shielded us from the volatility of fossil fuel prices or the caprices of those who control them, such as President Putin,” she said. “Americans are aware of this.”
FEBRUARY 23, SAN FRANCISCO, CALIFORNIA: Petrol rates exceeding $5.00 per gallon are advertised at gas stations in San Francisco, California, in an overhead view on February 23, 2022. The Ukraine-Russia war has the potential to drive gas prices to all-time highs in California and throughout the country. According to AAA, the average price of normal gasoline in California is $4.74 per gallon, about $1.20 above the national average.
On February 23, 2022, in San Francisco, California, gas stations show prices more than $5.00 per gallon. Gas prices in California and around the country have reached record highs as a result of the Ukraine-Russia war.
The administration of Vice President Joe Biden is considering diplomatic moves with oil-producing nations such as Saudi Arabia, Venezuela, and Iran, in light of Russia’s recent Ukrainian offensive’s disruption of oil markets.
However, Psaki contended that the only way to genuinely be rid of high gas costs was to abandon oil use.
“The best long-term safeguard for the United States is energy independence,” she said, referring to Biden’s attempts to subsidize wind and solar energy.
The Biden administration has been unable to justify the president’s decision to abandon the Keystone XL pipeline project, his attempt to halt drilling permits on federal property, and his decision to freeze drilling leases in the Arctic National Wildlife Refuge.
Biden admitted that petrol costs were increasing in his State of the Union address, but suggested incentives for electric vehicles as a remedy.
He pleaded with Congress to assist him in “lowering the price of electric cars, saving you an additional $80 per month by never having to pay at the gas pump.”
Biden also said that he will continue to release oil from America’s Strategic Petroleum Reserve, despite the fact that it has had no effect on gasoline prices.
“I understand that the news of what is occurring might be scary,” he said. “However, I want you to know that we will be OK.”
HNewsWire- According to the White House, no decision has been taken on whether the US would impose a restriction on Russian oil imports in retaliation for Russia’s invasion of Ukraine.
This comes as oil and gas prices hit record highs, the Biden administration conducts discussions with major oil producers worldwide, and a bipartisan coalition of senators announces intentions to introduce legislation prohibiting Russia from importing energy.
“At this moment, the administration made no decision on a ban on Russian oil imports,” White House press secretary Jen Psaki told reporters on Monday.
Earlier in the day, members of the House Ways and Means Committee and Senate Finance Committee announced plans to introduce legislation authorizing Mr. Joe Biden to increase tariffs on goods from Russia and Belarus and requiring US Trade Representative Katherine Tai to seek Russia’s suspension from the World Trade Organization (WTO). Tai would also be expected to lobby for a stop to Belarus’ intended WTO entry.
“By taking these steps, we will send a clear message to [Russian President Vladimir] Putin that his war is unacceptable and that the US stands resolutely with our NATO partners,” the congressmen said.
House Ways and Means Committee Chairman Richard Neal (D-Mass.) and Senate Finance Committee Chairman Ron Wyden (D-Ore.) released the statement, as did their Republican equivalents, Rep. Kevin Brady (Texas) and Sen. Mike Crapo (Idaho) (Idaho).
The White House has said that it is seeking a balance in its approach to Russian sanctions, maximizing pressure on Russian President Vladimir Putin while limiting costs to American consumers.
According to GasBuddy, the average price of a gallon of gasoline in the United States reached a new high of $4.104 on Monday, shattering the previous record of $4.103 established in 2008.
Oil prices surged to their highest level since 2008 on Sunday, owing to delays in the return of Iranian petroleum to global markets.
Biden approved the Department of Energy (DOE) on March 1 to release 30 million barrels of oil from the United Nations’ strategic petroleum reserves, half of a coordinated 60 million barrel release by International Energy Agency (IEA) member states.
However, the 60 million barrels released equates to around 2 million barrels per day for 30 days, but the United States uses approximately 20 million barrels per day on average.
Continue readingAlberta Oil Could Provide a Solution to the US Energy Crisis-Minister
Since before Russia invaded Ukraine, the White House has said that it has been in contact with major oil producers worldwide to explore methods to stabilize the energy market. Saudi Arabia, Iran, and Venezuela are among them.
Over the weekend, reports indicated that senior Biden administration officials were traveling to Venezuela to speak with President Nicolás Maduro’s regime.
In 2019, the US severed diplomatic ties with Maduro and shuttered its embassy in Caracas. The Trump administration has accused Venezuela’s dictatorial government of election fraud, imposed sanctions on the country’s oil exports, and recognized opposition leader Juan Guaidó as Venezuela’s legitimate president.
When asked Monday if lowering gas prices was worth doing business with Maduro, Psaki answered that doing so would be “jumping many steps ahead in any process.”
“Over the past few days, officials of the administration have engaged in a dialogue. Additionally, such negotiations are continuing. Additionally, we are concerned with the health and wellbeing of imprisoned US citizens. While it is a distinct process, it is a necessary component of our relationship with them,” she said.
Psaki also said that energy talks with Iran had taken place concurrently with continuing nuclear negotiations, and that those with Saudi Arabia were part of a meeting with US officials a few weeks ago to address “a variety of things.”
Some members of Congress and the press have advocated for the United States to raise domestic oil production in order to stabilize gas prices, despite the fact that this would contradict the Biden administration’s goal to wean the country off natural gas.
Biden issued an executive order prohibiting new fossil fuel drilling leases during his first days in office. Psaki has often cited previously granted leases that have remained unused by the oil sector.
“We have really increased our oil production, it is at record levels, and we want to continue doing so. There are over 9,000 authorized drilling licences that remain unutilized,” Psaki said on Monday. “Therefore, the assertion that we are preventing corporations from drilling is false.”
Russia supplies 10% of the natural gas and oil used in the United States and nearly 40% of the European Union.
If the US decides to impose a restriction on Russian oil, it may be acting alone. Germany, the world’s largest importer of Russian crude oil, has rejected measures to impose a restriction on energy imports. Germany is speeding up preparations to increase its reliance on alternative energy sources but cannot completely phase out Russian energy imports, German Chancellor Olaf Scholz said Monday.
Source: Reuters
Putin: Hey, the hype machine surrounding Ukraine is in overdrive right now. It’s a little bizarre to me how much panic and indigence is being drummed up. It’s as if people have forgotten that the US government just spent well over a decade devastating a country like Iraq for no good reason. No one seems to be mentioning the hypocrisy of demanding all out war against Russia when US campaigns in Iraq killed hundreds of thousands of civilians and very few countries batted an eye about it.
SRH: I would want to remind you that we are now witnessing what the Old Testament prophets referred to as “the great and terrible day of the Lord.” It’s tough for me to make such things humorous or enjoyable. To try so seems to me to be akin to employing a comedian to amuse the witnesses at a public execution! Granted, this is hardly amusing content, but it is real! And at times, we must confront uncomfortable truths
.
Source: breitbart HNewsWire HNewsWire HNewsWire HNewsWire HNewsWire
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