U.S. Oil & Gas Association President Tim Stewart and North Dakota Petroleum Council President Ron Ness told “Cavuto: Coast to Coast,” Wednesday, that they’re working with oil and gas trade groups and sent a letter to President Biden to offer with helping lower gas prices.
Ness added that oil and natural gas are the "backbone" of the U.S. economy and that Biden could reverse energy policies.
"This president could change the price of gas tomorrow if he would come to the podium and announce that his administration is changing direction. He’s directing his federal agencies to work with industry-approved permits, approved pipeline projects…urging the financial sector to invest in oil and gas…grow production in America…this is limiting our ability to grow" Ness added.
Oil prices were higher in early Asian trade, on reports that support for a European Union-wide ban on the purchase of Russian oil is growing inside the bloc. Ness asserted that it didn’t take a "rocket scientist" to understand that oil demand was going to increase once the coronavirus pandemic started to slow down, and now America is faced with a difficult "situation."
"America's oil and gas industry stands ready to help. But every day you wake up, and the federal government is going after you, targeting you, discouraging investment and discouraging workers," Ness stressed."Those things diminish the willingness of the industry to be able to ramp up, and it doesn't happen overnight. It's a big industry.
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