Will Biden resort to export limitations to curb gas prices? – By Jazz Shaw (Hot Air) / May 25, 2022
Our Energy Secretary, Jennifer Granholm, has been awfully quiet during one of the worst energy crises we’ve seen in decades. But she did pop her head up this week long enough to take a few questions from reporters during a tour of the Bayou Choctaw salt dome, the location of some of the nation’s dwindling Strategic Petroleum Reserves. One reporter asked her if President Biden was considering placing limits on petroleum exports to other nations as a way to slow the rise of gas prices and the cost of other fuel oils. Her response, while rather noncommital, was that Joe Biden “is not taking any tools off the table.” Assuming this is even accurate, that would mean that Biden is indeed thinking of mandating caps on the export of petroleum products. Apparently, nobody thought to ask Granholm whether or not Uncle Joe had discussed this with our trading partners in advance. (Reuters)
U.S. President Joe Biden has not ruled out using export restrictions to ease soaring domestic fuel prices, U.S. Energy Secretary Jennifer Granholm said on Tuesday.
Asked if the United States was considering restricting petroleum exports to ease fuel prices, Granholm said “I can confirm the president is not taking any tools off the table.”
Granholm was speaking to reporters during a tour of the Bayou Choctaw salt dome, part of the nation’s Strategic Petroleum Reserve system.
The United States exported around 8.6 million barrels per day of oil and refined products in 2021, slightly more than it imported, according to the Energy Information Administration.
