House Minority Leader Kevin McCarthy and House Minority Leader Kevin McCarthy told CNBC Wednesday that the United States should ramp up oil production to replace banned Russian crude instead of looking to Iran or Venezuela, which is also led by a dictator.
“Why would you take the billions you give her? [Russian President Vladimir Putin] And would you give it to another dictator who finances terrorism around the world with Iran and Venezuela? “Crate box. †
†[President Joe Biden] “Buy America,” he said in his State of the Union address. “I think he might have thought so, but there is no American energy,” McCarthy added, referring to Biden’s statement in his State of the Union address that drew fervent cheers in the United States.
McCarthy’s comments to CNBC come a day after Biden announced that the United States would ban Russian oil imports.
US and Venezuelan officials met at the weekend to discuss the possibility of easing some oil sanctions on the South American country. The White House announced Tuesday night that the Venezuelan government has released two American prisoners, one of whom is an oil official who has been held with his colleagues for more than four years.
Meanwhile, Iran has gradually increased oil production over the past six months due to increased exports to China – as well as expectations that talks with world powers, including the United States, to revive the 2015 Iran nuclear deal may lead to increased oil exports. . Former President Donald Trump withdrew from the Iran nuclear deal and reimposed sanctions.
West Texas Intermediate crude fell nearly 5% on Wednesday after days of sudden increases, spurred by investor fears that the Russian invasion of Ukraine could cut off oil supplies.
Following in the footsteps of his fellow Republicans, among whom is the Florida senator. Marco Rubio McCarthy called on the United States to produce more oil on Earth. The California congressman also suggested that the United States could and should become the world’s largest oil supplier.
“We can be energy independent, but we can be energy dominant, providing all the energy not only to America, but also to the world,” McCarthy said. This will make America stronger and the world a safer place.”
The Associated Press and Reuters contributed to this report.
