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Biden And Buttigieg Kill U.S. Oil

by Market FinancePosted onMarch 1, 2022March 1, 2022

This is the worst time for that.

During a recent interview with CBS, President Biden’s Transportation Secretary Pete Buttigieg was asked if the United States should drill more oil in the United States to lower the prices of gas in America.

Buttigieg rejected the idea of drilling more oil and said that “we are in the middle of a long-term transformation that is already fast underway” away from oil.

CBS’ Tony Dokoupil asked Buttigieg, “Prices are up a dollar in the last year, 25% — 25 cents in the last month, and one of the ideas that has been brought up to fix the situation is to — and this is, granted, being pushed by the American Petroleum Institute, is to drill more, open up more U.S. land to drilling. What’s the administration’s response to that idea?”

Buttigieg replied, “Well, look, the president has laid out and taken a number of steps, including addressing the Strategic Petroleum Reserve, including diplomatic efforts to increase global oil production, and other ideas that have been raised that are on the table. Because everything deserves to be considered. But let’s also be clear, that we are in the middle of a long-term transformation that is already fast underway, especially when it comes to vehicles. Making electric vehicles more affordable for Americans is something that the president has proposed and is hoping Congress will pass. … We want them to be American-made electric vehicles, creating American jobs on American soil. And that’s going to continue to be a policy priority for this department and administration, even as we’re acting to provide more short-term relief.”

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Published by Market Finance

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