The US government will review the regulation of the oil segment

19.08.2021

US Senators are surprised by President Biden’s recent appeal to the Organization of the Petroleum Exporting Countries and its allies to boost oil production in response to rising gasoline prices. This is stated in a open letter from a group of members of the upper house of the American Congress sent to the White House.

“From the first day your administration has pursued policies that have constrained and threatened the US oil and gas sector, which in turn have had devastating consequences for American workers and consumers. The necessity for assistance from the international oil cartel is no less surprising, inasmuch as the United States has a sufficiently high domestic supply and the necessary reserves to increase production, which could also lead to a decrease in the cost of gasoline,” they write to Senator President Biden. “Last month it reached a seven-year maximum and is now 40 percent higher than January 1, 2021. Therefore, it is not surprising that we find ourselves in such a situation.”