The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House ...
Drill baby drill? Biden administration wants more OPEC oil
By JENNIFER JACOBS on 7/6/2021
(Bloomberg) --The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions.
Biden wants Americans to have access to affordable and reliable energy, including at the pump, the White House officials said. As the U.S. economy recovers from the Covid-19 pandemic, it’s critical that energy supplies keep pace, which requires stable oil market conditions, they said.
The administration’s interest in increasing foreign oil production stands in stark contrast to its opposition to domestic output, kicked off on Biden’s first day in office with a moratorium on oil and gas exploration on Federal lands.
Even though the U.S. isn’t a party to the talks, it’s “closely monitoring the OPEC+ negotiations and their impact on the global economic recovery from the Covid-19 pandemic,” a White House spokesperson said Monday. “Administration officials have been engaged with relevant capitals to urge a compromise solution that will allow proposed production increases to move forward.”
Related story: OPEC fails to strike new output deal, raising oil prices and pressuring supply
Several days of tense talks among members of the Organization of Petroleum Exporting Countries and its allies failed to resolve a bitter dispute between Saudi Arabia and the United Arab Emirates, delegates said, asking not to be named because the information wasn’t public. The group didn’t agree on a date for its next meeting, according to a statement from OPEC Secretary-General Mohammad Barkindo.
Unless an agreement can be salvaged, OPEC and its allies won’t increase production for August. That will deprive the global economy of vital extra supplies as demand recovers rapidly from the coronavirus pandemic.
https://www.worldoil.com/news/2021/7/6/drill-...e-opec-oil
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Russia’s Putin counts Biden as oil friend as US falls behind
While Biden talks tough ahead of a June 16 summit with Putin, calling on him to act against the Russian ransomware criminals that have attacked our energy and food chain, via Colonial Pipeline and JBS Foods, his policy actions have only rewarded Russia.
INFLATION: OIL HITS HIGHEST SINCE 2018
One of the biggest wins, the Biden administration waived Trump-era sanctions on the companies behind Russia's Nord Stream 2 gas pipeline. Now, the pipeline will be built, allowing Russia to supply natural gas to Germany, increasing the dependence of the region on Putin's team for its natural gas needs.
While the Biden administration suggests it is allowing the pipeline to improve relations with Germany, the reality is that it gives Russia more political influence within Europe's biggest economy. Not to mention that it contradicts the administration's aggressive climate policy, with U.S. gas producers hit with a drilling moratorium on federal lands and tougher regulations that have curbed U.S. production, making us more dependent on foreign oil producers.
Russia has snaked right in. The country's exports of oil to the U.S. are at an all-time high, reaching almost 750,000 b/d in March, according to International Energy Agency (IEA) data, making Russia the number-three oil exporter to the US. Here at home, U.S. oil production has fallen by 1.715 million barrels from a year ago, so a large part of that void is being filled by Russia.
https://www.foxbusiness.com/markets/biden-put...yberattack
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puTzz are you still working on how to pronounce > ( Moron )
a stupid person.
"
we can't let these thoughtless morons get away with mindless posting every week
https://www.google.com/search?q=moron+meaning...QsQMyCwguE
Drill baby drill? Biden administration wants more OPEC oil
By JENNIFER JACOBS on 7/6/2021
(Bloomberg) --The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions.
Biden wants Americans to have access to affordable and reliable energy, including at the pump, the White House officials said. As the U.S. economy recovers from the Covid-19 pandemic, it’s critical that energy supplies keep pace, which requires stable oil market conditions, they said.
The administration’s interest in increasing foreign oil production stands in stark contrast to its opposition to domestic output, kicked off on Biden’s first day in office with a moratorium on oil and gas exploration on Federal lands.
Even though the U.S. isn’t a party to the talks, it’s “closely monitoring the OPEC+ negotiations and their impact on the global economic recovery from the Covid-19 pandemic,” a White House spokesperson said Monday. “Administration officials have been engaged with relevant capitals to urge a compromise solution that will allow proposed production increases to move forward.”
Related story: OPEC fails to strike new output deal, raising oil prices and pressuring supply
Several days of tense talks among members of the Organization of Petroleum Exporting Countries and its allies failed to resolve a bitter dispute between Saudi Arabia and the United Arab Emirates, delegates said, asking not to be named because the information wasn’t public. The group didn’t agree on a date for its next meeting, according to a statement from OPEC Secretary-General Mohammad Barkindo.
Unless an agreement can be salvaged, OPEC and its allies won’t increase production for August. That will deprive the global economy of vital extra supplies as demand recovers rapidly from the coronavirus pandemic.
https://www.worldoil.com/news/2021/7/6/drill-...e-opec-oil
==========================================
Russia’s Putin counts Biden as oil friend as US falls behind
While Biden talks tough ahead of a June 16 summit with Putin, calling on him to act against the Russian ransomware criminals that have attacked our energy and food chain, via Colonial Pipeline and JBS Foods, his policy actions have only rewarded Russia.
INFLATION: OIL HITS HIGHEST SINCE 2018
One of the biggest wins, the Biden administration waived Trump-era sanctions on the companies behind Russia's Nord Stream 2 gas pipeline. Now, the pipeline will be built, allowing Russia to supply natural gas to Germany, increasing the dependence of the region on Putin's team for its natural gas needs.
While the Biden administration suggests it is allowing the pipeline to improve relations with Germany, the reality is that it gives Russia more political influence within Europe's biggest economy. Not to mention that it contradicts the administration's aggressive climate policy, with U.S. gas producers hit with a drilling moratorium on federal lands and tougher regulations that have curbed U.S. production, making us more dependent on foreign oil producers.
Russia has snaked right in. The country's exports of oil to the U.S. are at an all-time high, reaching almost 750,000 b/d in March, according to International Energy Agency (IEA) data, making Russia the number-three oil exporter to the US. Here at home, U.S. oil production has fallen by 1.715 million barrels from a year ago, so a large part of that void is being filled by Russia.
https://www.foxbusiness.com/markets/biden-put...yberattack
===========================
puTzz are you still working on how to pronounce > ( Moron )
a stupid person.
"
we can't let these thoughtless morons get away with mindless posting every week
https://www.google.com/search?q=moron+meaning...QsQMyCwguE
