On Thursday’s broadcast of CNN’s “At This Hour,” Rep. Mike Quigley (D-IL) stated that increased oil production is “so critical to addressing the inflation issue,” and responded to the Biden administration canceling oil and gas leases by stating companies “can up production now on the wells they have.”
Quigley stated, “One of the primary drivers of inflation is energy costs. Right now, we’re seeing record profits by oil companies and most of them are not increasing production at a time when it’s so critical to addressing the inflation issue, but also the war issue in Ukraine. We’re trying to help wean the E.U. off of the $800 million a day they’re sending to Putin’s war machine. That only happens when we help send them additional oil, adding to that inflationary pressure. They have to step up as well.”
Host Kate Bolduan then asked, “Do you think it also then sends a mixed message when the Interior Department just canceled those oil and gas leases that are getting — just this morning — or just in the last 24 hours getting — facing big criticism from oil lobbyists?”
Quigley responded, “There are 9,000 leases that they currently have access to on public lands that they’re not using. In order for them to start using those, they would have had to start some time ago. They can up production now on the wells they have. They simply aren’t going to because their first priority is to their shareholders, not the American people and not to the war interest of pushing back against Putin.”
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