House Republicans urge Binden to end budget cuts for US oil industry | OilPrice.com

In light of the high price of gasoline in the United States, House Republicans have written to the White House to end budget restrictions on the fossil fuel industry in the United States.

It is only a day before the White House arrives to produce more crude oil to alleviate the high cost of gasoline, which is a major concern for consumers during the outbreak.

A letter to the Republican Transportation and Infrastructure Committee called on U.S. military engineers to remove current restrictions in the 2022 budget, which prohibits them from participating in any project. Reduces the cost of production, consumption, or increases the income of fossil producers.

U.S. Army engineers oversee a number of fossil fuel projects across the country.

Further subsidies to the U.S. oil and gas industry could push further development – which could pose a problem for the green administration, which is trying to look greener.

But the White House agrees that more production is needed – it does not agree that it should come from the United States.

“We are engaging with relevant OPEC members on the importance of competitive markets by setting prices,” said US National Security Adviser Jack Sullivan.

“Competitive energy markets will ensure reliable and stable energy supplies, and OPEC + must do more to support recovery,” said Sullivan, one of the first direct calls from the BN administration to OPEC +. He added: “Unprecedented fuel costs could jeopardize the ongoing global recovery.”

However, in a statement issued Wednesday, the White House said it had no plans to stimulate US oil production.

By Julian Jigger for Oilprice.com

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