American Trucking Associations, in a letter sent to the White House, is urging the Biden administration to expand domestic oil and natural gas production.
Chris Spear, President & Chief Executive Officer of ATA sent a letter to White House mentioning the below points:
· Expedite onshore and offshore oil and natural gas permitting to spur expanded production.
· Initiate immediate lease sales in current production areas in the Central and Western Gulf of Mexico.
· Encourage expedited carbon capture & sequestration rulemaking to ensure that America remains the world’s leader in carbon reduction technology development.
· Work with both domestic and international oil and natural gas-producing nations to help reduce global oil prices.
· Consider timed releases from the Strategic Petroleum Reserve.
At the Technology & Maintenance Council 2022 Annual Meeting & Transportation Technology Exhibition in Orlando, Fla., earlier this month, Spear proposed policymakers secure energy independence to assist commercial transportation stakeholders. “We have the fuel. We have the oil. We have the gas. We have the ability to be self-sustaining,” said Spear at the conference.
On March 8, responding to Russia’s invasion of Ukraine, Biden announced the U.S. is banning the importation of Russian oil. The announcement came as the price of diesel rose 74.5 cents. That marked a record $4.849 a gallon, according to the Energy Information Administration.
The below graph represents a sudden rise in the United States retail gas price after Russia invades Ukraine.
Graph credits: US Retail Gas Price (ycharts.com)
Download the ATA Energy letter from the link given below: