The Biden administration's energy policies make the United States dependent on foreign oil but domestic energy production should be increased following the OPEC+ decision to cut production by about 2 million barrels per day, American Exploration and Production Council (AXPC) CEO Anne Bradbury said in a statement to Sputnik on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 05th October, 2022) The Biden administration's energy policies make the United States dependent on foreign oil but domestic energy production should be increased following the OPEC+ decision to cut production by about 2 million barrels per day, American Exploration and Production Council (AXPC) CEO Anne Bradbury said in a statement to Sputnik on Wednesday.
"This administration's energy policies are nonsensical and making us more dependent on foreign sources," Bradbury said in response to OPEC+ decision to slash oil production. "Instead, the Biden Administration should be focused on increasing production here in the US through thoughtful and comprehensive energy policy that helps bring down costs and makes us less reliant on foreign sources."
Bradbury said the OPEC+ decision to cut production is not good news for American families and business that are already struggling with record-high inflation, and it reinforces the need for American energy in the world.
Earlier on Wednesday, Saudi Arabia and its OPEC+ allies, including Russia, agreed to cut oil production by 2 million barrels per day starting in November.
The decision was made "in light of the uncertainty that surrounds the global economic and oil market outlooks, and the need to enhance the long-term guidance for the oil market, and in line with the successful approach of being proactive, and preemptive," according to a statement by the cartel released after the meeting.
The Biden administration will consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices and the US Department of Energy will deliver another 10 million barrels of oil from the US Strategic Petroleum Reserve in November, the White House said in a press release.
