US President Joe Biden’s policy has led to higher oil prices, threatening to exacerbate problems in the energy sector. This view was expressed in an article for the newspaper by James Coleman, a professor at Southern Methodist University in Dallas (Texas). Wall Street Journal.
The American leader said earlier that he expects US oil companies to start production in unused areas. It also promised companies unexpected profits despite high oil prices and its refusal to increase production.
According to Coleman, Biden criticizes oil companies rather than taking steps to increase fuel production. At the same time, the president is not giving up on his “green goals” that he set in his election program. The professor believes that such a policy will only exacerbate existing problems in the energy sector.
The author of the article recalled that Biden promised during the election campaign that he would take extremely drastic measures against the US oil industry. For example, the president recently signed an executive order suspending the construction of the Keystone XL (Keystone-ex-al) oil pipeline from Canada to the United States, and also prompted Congress to pay taxes on disused oil and gas companies. called for coercion. leased areas.
“As America is the world’s largest producer of oil and gas, these policies and the threat of even tougher measures have resulted in a global contraction in energy supply and higher prices,” Coleman writes.
A professor at Southern Methodist University is confident that, under better conditions, higher oil prices will attract investments that will help increase production, which in turn will lead to market stability.
Former White House Press Secretary Jen Psaki statedThe US leaving the right to decide on gas purchases from Russia to Europe.