October 26, 2021

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The White House Doesn’t Care About Rising Energy Prices – Roce Today

“Of course, we all want to keep gasoline prices low, but the threat of the crisis – the climate crisis – certainly can’t wait any longer,” White House Press Secretary Jen Psaki told reporters.

He added that President Joe Biden believes climate change represents “one of the greatest national security crises” facing the United States, suggesting that higher prices are a necessary consequence of the fight against global warming.

Both the U.S. and international benchmarks for crude oil briefly hit multi-year highs this week and remain high after the Organization of the Petroleum Exporting Countries (OPEC) and its Russian counterpart decided not to increase production. Natural gas prices also rose to their highest level in more than a decade, as volatility hit an all-time high.

Oil and natural gas both account for the vast majority of energy produced in the United States, according to the Energy Information Administration.

But some experts blamed the rapid shift from fossil fuels to investments in renewable energy due to rising prices and the global energy crisis on the verge, according to the New York Times.

“The energy transition is not being managed properly,” OPEC Secretary General Mohammad Barkindo said in a conference Wednesday, according to Bloomberg. “And so we’re starting to see the fallout.”

In November, the United Nations will convene a major climate conference where leaders should agree to step up efforts to combat climate change and attempt to reduce future emissions.

Psaki said the White House hopes high energy prices will not persuade the leadership of Europe and Asia to approach the November conference with more concerns about costs than climate.

[ https://rocetoday.com/white-house-dont-care-about-rising-energy-prices/?utm_source=rss&utm_medium=rss&utm_campaign=white-house-dont-care-about-rising-energy-prices https://d26toa8f6ahusa.cloudfront.net/wp-content/uploads/2021/07/30214746/a-quiet-place-part-2-bigs-16.pdf