Politics
Biden Called to Unleash Shale to Counter Energy Crisis
- API says U.S. needs “clear and consistent” energy policy
- Oil could reach a record $185 a barrel by year-end: JPMorgan
A drill hand uses a power washer as a shale-gas well is drilled in Mannington, West Virginia, U.S..
Photographer: Ty Wright/Bloomberg
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The chorus is growing from America’s oil executives for President Joe Biden to throw the federal government’s weight behind an industry he once deliberately shunned: U.S. shale.
The Biden administration, which has made climate one of its policy pillars, has more than once asked OPEC+ to raise crude production to tame energy prices -- while at the same time declining to do so at home. Now, oil and gas executives say they can help ease the energy crisis triggered by Russia’s invasion of Ukraine, but want help from the White House first.