Members of the House Energy and Commerce Committee voted alternately on Wednesday for a group of senior oil and gas industry leaders who were called to testify before the committee on the apparent link between crude oil prices and pump costs. READ MORE: Biden to order record release of oil from strategic reserves to cut gas prices The lines of question depended on political beliefs: Democrats disapproved of executives for doing little to help, billions in profits without boosting output, while Republicans looked for ways to blame the White House. The Keystone XL – the cross-border project that Biden assassinated on his first day in office – has become a popular topic of discussion. The story goes on under the ad “What has happened is that we have denied Canada access to our market,” said HR McMaster, one of Donald Trump’s former national security advisers and the only Wednesday witness who was not an oil and gas executive. “What is Canada going to do? “They will have to sell oil elsewhere – maybe in China, for example, which will probably give China more power over the Canadian economy.” READ MORE: Keystone XL pipeline is officially dead. What does this mean for Canada? Lawmaker David McKinley, who has represented his West Virginia constituency for Republicans since 2011, published a report in the Wall Street Journal on Tuesday, citing anonymous sources who say the United States is actively seeking to boost energy imports from Canada. “Really? Didn’t he just cancel the license for the Keystone pipeline that would import 830,000 barrels of crude oil a day from Canada?” McKinley asked. “Canada’s pipeline network is already operating at full capacity, so we will have to import by rail, which analysts say is more expensive.” 0:53 Restarting the Keystone XL pipeline will not increase the oil supply, says Psaki Previous Video Next Video The story goes on under the ad Biden government officials did not immediately respond Wednesday to questions about Canadian energy imports, which the White House is said to be seeking to ease to ease supply pressures largely the result of a North American energy embargo. Trending Stories
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The White House, however, rejected the idea that a different outcome on the Keystone XL would have any impact on the current price of gas – a message echoed Wednesday by Virginia Democrat Donald McAhine. “The reality is that the Keystone pipeline would not be operational until at least next year, so the idea that this would somehow negatively affect the price of oil and the price of gas in the pump is a bit of a surprise to me,” McEachin said. “In addition, the Keystone XL was essentially a Canadian export pipeline designed to transport Canadian oil to overseas markets, and Canadian officials have said the same.” Nothing, however, discouraged Republicans from using the plan against Biden, especially with Canada and the United States blocking imports of Russian oil, gas and coal as part of a wide-ranging series of sanctions in response to its financial sanctions. Vladimir Putin in Ukraine. Last week, Biden announced plans to release more oil from the country’s extensive strategic reserves – up to a million barrels a day for the next six months – amid fears by Democrats that the price of gas would cost them dearly. mid-November appointments. The story goes on under the ad White House spokeswoman Jen Psaki said Wednesday that the government is doing all it can to alleviate the blow to U.S. consumers, noting that in addition to U.S. plans, the 31 members of the International Energy Agency plan to release an additional 60 million barrels. “What we are trying to do is mitigate these effects,” Psaki said. “All of these (steps) are part of our collective effort to mitigate the impact on the American people.” The Canadian embassy in Washington responded to questions with a statement that only confirms that Canada is working hard with “international partners in Europe and around the world” to end other countries’ dependence on Russian energy. In the long run, the goal is “to deepen our co-operation on energy security towards a clean energy transition,” the statement said. Natural Resources Secretary Jonathan Wilkinson has already stated that Canada will be able to increase production to 300,000 barrels per day in 2022. Meanwhile, stakeholders are waiting for more clarity about the fate of another cross-border pipeline with an uncertain future – Line 5 of Enbridge Inc., which Michigan Governor Gretchen Whitmer is trying to close for fear of an ecological catastrophe. crosses under the Great Lakes. READ MORE: Ottawa Files Lawsuit in Support of Enbridge Line 5 Conflict with Michigan Enbridge has a motion before a federal judge in Grand Rapids, Michigan, for a summary ruling in the ongoing legal dispute that would formally prevent the state from unilaterally closing what proponents say is a vital energy hub for both Canada and Canada. USA The story goes on under the ad The federal government in Ottawa, the Canadian Chamber of Commerce and various US businesses have filed lawsuits in support of Enbridge’s argument, and various Indigenous and environmental groups have urged Neff to dismiss it. With the filing in this case now largely completed, the next major development is expected to be a decision on the Enbridge proposal, which observers say is likely to be several months away. 2:21 Raw controversy: Canada invokes treaty to negotiate Line 5 pipeline fate with US © 2022 The Canadian Press
