as such President Biden He is traveling to Saudi Arabia this week to demand increased energy production from the Middle Eastern country, and representatives of the US energy industry say Biden should look to the United States instead.
“We think Texas is much closer than Saudi Arabia. President Biden doesn’t need to travel halfway around the world looking for solutions to this energy crisis when it’s resolved,” Anne Bradbury, CEO of the US Exploration and Production Council, told Fox News Digital. Here at home,”
“If management is serious about oversupply, they should meet with producers here at home rather than look to governments abroad,” American Petroleum Institute spokeswoman Christina Noel said.
Biden’s trip to the Middle East includes visits to several countries, including Israel. The White House says the president will be dealing with a range of geopolitical issues while he is there.
But with rising gas prices and inflation burning, it has Friday visit to Saudi Arabia, And energy diplomacy in the oil kingdom, it will be the most follow-up part of the trip. This is particularly the case amid human rights criticism of Saudi Arabia, including its treatment of homosexuals and the murder of Jamal Khashoggi.
“We will have the opportunity, among this very broad agenda, to talk about energy security with the leaders of OPEC countries in the Middle East, just as we discussed energy security when he was on his trips in Europe and in the Indo-Pacific. National Security Adviser Jake Sullivan told reporters on Monday.” .
“Human rights — are a strategic interest of the United States. So is energy security, so is stopping terrorism, and so is the pursuit of peace in a place like Yemen,” Sullivan said.
However, the CEO of the Energy and Energy Workforce Council, Leslie Bayer, told Fox News Digital that Biden would not need to ask the Saudis for more oil if he was only going to change. His management’s position on local production.
“First of all, denigrating the industry is preventing us from accessing the capital we need for our long-term investment of production. This is really the primary area in which they can really hamper production,” Bayer said. It also hurts our ability to get workers.
Bayer also criticized the proposed regulations from the Securities and Exchange Commission and said the Home Office’s five-year plan on oil lease sales is insufficient.
“You can’t say on the one hand, industry, I want you to produce more, and on the other hand, we tie our hands,” she said.
“The inconsistent and hostile messaging and policies we’ve seen from this administration have been significant headwinds,” Bradbury added.
Meanwhile, the White House touted that domestic oil production had risen and said oil companies had plenty of capacity to produce more.
“Under President Biden, US oil production has risen, and will soon reach a record level. In fact, the United States produced more oil during President Biden’s first year in office than during the first two years of the previous administration, in addition to 9,000,” said White House spokesman Abdullah. Hassan told Fox News Digital that the drilling permits that were approved are still not being used by the oil companies.
Hassan added, “President Biden is committed to doing everything he can to bring prices down at the pump, and oil and gas companies should not use this moment as an excuse not to pass their savings on to consumers at the pump.”
The White House’s comment on oil and gas leases that industry representatives had previously disagreed with. Bradbury called it a “red herring”, while Bayer said that “some permits are viable and some are invalid,” which is why many don’t use it.
Biden also recently demanded that gas stations lower their prices, as oil prices have fallen from recent highs. The White House accused oil producers of taking advantage of high prices during the Russian war on Ukraine to reap their profits, when in reality their costs are not increasing.
But Baer and Bradbury said comments like showing the White House don’t understand Energy economics facts.
“The main drawback of it is that it does not recognize the global economy and industry markets,” Bayer said. “That is why it is not the refineries, nor the oil producers, who determine the price of oil or the price of natural gas. It is the global market,” he added.
Bradbury added, “It shows a really fundamental misunderstanding of our industry. Our industry is price enthusiasts, not price setting. And, you know, I didn’t hear much sympathy from these Democrats when, you know, prices went down so negatively a year and a half ago.”
The White House did not say earlier this week any specific demands Biden would make while in Saudi Arabia, where high temperatures are expected to exceed 110 degrees over the next two weeks, with lows in the high 80s. But she made it clear that Biden would demand more oil from the Saudis.
“I will not go into a specific characterization of what constitutes ‘enough.’ What I will say is that the president believes that the price of gas is too high and that we need to do more in terms of global energy supplies.” “And he will take every step in his power, both here at home and in terms of his diplomatic engagement in the world, to try to make it happen.”