RRC Commissioner Christian's Statement on Russian Plans to Cut Oil Production
Texas Insider Report: AUSTIN, Texas – “As President Biden doubles down on his anti-Oil & Gas Agenda, our enemies overseas smell blood in the water and are using their production as leverage against the West. We have the natural resources, the technology, and the manpower to be energy independent – but we just need the federal government to get out of the way," said Texas Railroad Commissioner Wayne Christian, following news of Russia's plans to cut oil production by about 5% next month were releasedA Russian cut back of 5% is the equivalent of approximately 500,000 barrels per day in production.
“Mr. President – I commit to you today – if you stop your war against domestic oil and gas production, Texas can make up this 500,000-barrel difference and more. There truly is no downside! You even admitted so in your State of the Union address that we will need more oil for the foreseeable future.
"Let’s start here at home," said Christian. "We can defend our national security and our European allies, all the while increasing supply, reducing costs, creating jobs, stimulating our economy, and protecting our environment!“As former Vice Chair and current member of the Interstate Oil and Gas Compact Commission (IOGCC), I’m confident that Texas is not alone in the promise to increase production. I’m sure that North Dakota, Louisiana, Pennsylvania, and others can easily help make up any impact on the oil market that this move by Russia may have on global prices.
“President Biden, you can save lives by unleashing American producers.
"Europe is in the midst of an energy crisis with concerns whether people will freeze to death this winter. Furthermore, high energy prices hurt the poorest populations and nations the most, with 80% of the world relying on fossil fuels," Christian noted.
"Putin’s threat to drive up oil prices will do so much more than hurt the West and continue his brutal war, it will have resounding unintended consequences to the children and the poor in developing nations that struggle just to get by each day.”
According to the International Monetary Fund (IMF), Europe is facing an unprecedented energy crisis, as critical natural gas has been cut by more than 80% multiplying electricity costs by 15 times.
Wayne Christian was elected as the 50th Texas Railroad Commissioner in November 2016. Prior to his time on the Commission, Christian served seven sessions in the Texas House of Representatives, accumulating a strong record of standing for free markets and against burdensome regulations. Learn more about Chairman Christian here.
