US Energy Secretary: Working With US Oil, Gas Producers To Raise Supply

US Energy Secretary Jennifer Granholm, speaking at the CERAWeek energy conference in Houston on Wednesday, said that the Biden administration wants to work with US oil and gas producers to raise supply.

The impacts of higher costs for fuel are real and severe, Granholm added, saying that “we have a responsibility to increase short-term supply where we can to stabilise the market.

She also said that included more strategic reserve releases and energy companies producing more “where they can”, adding that “in this moment of crisis, we need more supply”.

Granholm noted that we “still have to reckon with the impact of climate change”, but that the Biden administration needs to be pragmatic about what the energy transition means.

“Right now, we need oil and gas production to rise to meet current demand”, she continued, saying that the US is looking across the world to see who can increase output.

Reserve releases “may have to happen again”, she noted, adding that we are focused on “alleviating pain at the pump”.