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May 24, 2022

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U.S. Oil and Gas Association President: The country is facing the ‘most challenging energy crisis’ in 50 years

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During an interview on “Cavuto Live” U.S. Oil and Gas Association President Tim Stewart said the U.S. is in the “most challenging” energy crisis in the last 50 years and the Biden administration has “no strategy” to help the U.S. get out of record-high gasoline and diesel prices.

NATIONAL GAS PRICE AVERAGE HITS NEW RECORD HIGH AT $4.45 PER GALLON

The Biden Administration canceled oil and gas leases in Alaska, Gulf of Mexico
(RJ Sangosti/MediaNews Group/The Denver Post via Getty Images)

TIM STEWART: Well, high high is too high for us to afford it, Neil, and that’s a problem which we have. We’re in the greatest, probably the most challenging energy crisis we’ve been in in 50 years. As you said, diesel and gasoline prices are at all-time highs and inventories at all-time lows. And what did the administration do this week? What was their major energy announcement? It was to pull millions of acres of federal leases off the table and potentially trap billions of barrels into the ground. It’s really frustrating. I mean, this administration has no strategy to help us get out of it. And frankly, all the actions that they take are counterproductive to those of us who are trying to solve this problem. 

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