The United States has always been careful with the use of natural resources. For example, the 40-year ban on oil exports was lifted only in 2015. However, in today's circumstances, the country's authorities are making important decisions. The White House has called on local oil producers to urgently increase supply.
Such a request was made by the government because of the boycott of Russian oil. After all, its absence will be compensated for with other supplies. However, given that Russia is the largest supplier of oil, it would be difficult to compensate for its absence in the market. That is why the Americans are willing to ramp up output. US Secretary of Energy Jennifer Granholm personally addressed local oil producers. She asked oil executives to increase supplies urgently in order to stabilize the market after the decision to ban Russian oil imports. “We are in an emergency, and we have to responsibly increase short-term supply where we can right now to stabilize the market and minimize harm to American families,” she said.
Notably, it was not only local oil companies that offered their services. US Secretary of State Antony Blinken has confirmed that the United Arab Emirates (UAE) is ready to increase oil production to mitigate the impact of the rejection of Russian crude. He added that the country had recently made such an announcement because of the situation in Ukraine.
