According to Christi Craddick, Chairwoman of the Texas Railroad Commission, the recent announcement by OPEC+ member countries to reduce oil production poses a risk to the energy security of the US, which has been dependent on foreign oil under President Joe Biden’s policies. The Texas Railroad Commission, being the regulatory body of the largest oil-producing state in the US, is concerned about the impact of this decision on the domestic energy sector and the wider implications for the nation’s energy security.
In response to the OPEC+ decision, Craddick urged the Biden administration to abandon energy policies that limit US energy production potential and instead allow American energy firms to increase their production levels. The Chairwoman specifically called for more opportunities for the energy sector in Texas, which can benefit not only the US but also the global community.
Craddick’s comments follow the Joint Ministerial Monitoring Committee (JMMC) announcement of an additional voluntary oil production cut by OPEC+ members, which includes some of the largest oil-producing countries such as Saudi Arabia, Russia, Iraq, and the United Arab Emirates. This cut, amounting to 1.66 million barrels per day, is set to continue until the end of 2023, and its implications for the global energy market are significant.
Furthermore, Craddick highlighted President Biden’s clean energy ambitions, which have led to a decline in investment in the US oil production sector. She also pointed out that the administration’s use of the Strategic Petroleum Reserve to lower gas prices has resulted in record-low oil supplies, further emphasizing the need for the US to increase its domestic energy production to ensure long-term energy security.
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#Oil #OilProduction #CrudeOil #DomesticOil #ForeignOil #BidenAdministration #Biden #StrategicPetroleumReserve #EnergySecurity #UnitedStates #OPEC #NationalSecurity #GasPrices
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