Oil and gas industry insiders say soaring energy prices exacerbated by Russia's attack on Ukraine should serve as a 'wake-up call' to U.S. policymakers.
Sean Strawbridge, CEO of Port Corpus Christi, says the US oil and energy sector is facing 'headwinds' from the Biden administration's policies.President Vladimir Putin's invasion of Ukraine last month.Russian oil and gas imports to the U.S., and industry experts say the situation should serve as a reality check that fossil fuels are still needed as the White House pushes transitioning to a green economy in the near future..
U.S. President Joe Biden speaks in the Roosevelt Room of the White House in Washington, D.C., U.S., on Tuesday, March 8, 2022.
"This energy crisis is decades in the making, and what it shows is that we are going to need fossil fuels for decades to come," American Exploration and Production Council CEO Anne Bradbury said. "And even under the [International Energy Agency's] sustainable development scenario, the world is still going to use oil and gas for decades to come – and it's huge in a significant amount.
Senator Dan Sullivan, a Republican from Alaska, speaks during the 2022 CERAWeek by S&P Global conference in Houston, Texas, U.S., on Monday, March 7, 2022.
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