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Wednesday, December 8, 2021

Warren accuses American oil producers of fuel export ahead of winter

Senator Elizabeth Warren (Democratic from Massachusetts) interrogated some of the largest natural gas producers in the United States about exporting “record volumes” of heating fuel as Americans head into the winter months as energy prices continue to rise.

“I am writing about my concerns about rising natural gas prices for US consumers, the implications for families struggling to pay their bills and keep their homes warm this winter,” Warren wrote in a November 23 letter (pdf).

The letters were addressed to CEOs of 11 natural gas producers, including ConocoPhillips, EQT, Exxon Mobil, Coterra, BP, Antero Resources, Chesapeake Energy Corporation, Ascent Resources, Southwestern Energy Company, Range Resources Corporation, and Occidental Petroleum Corporation.

Warren said the rise in utility prices was “fueled by corporate greed and speculation by energy companies” as they “shipped record volumes of US gas out of the country” to Canada, Mexico and Europe and Asia, citing Wall Street data. Journal article from November 7th.

She urged these corporations to answer her questions about the reasons for exporting record volumes of natural gas ahead of the winter months, setting a deadline of December 7, 2021.

Warren was among 11 Democratic senators who signed a letter on November 8 asking President Joe Biden to address soaring energy prices by banning the export of US-produced crude oil.

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Besides Warren, Democratic senators include Senator Jack Reed (Ph.D.), Bob Casey (Democracy), Patrick Leahy (Democrat), Margaret Hassan (DN.H.), Edward Markey (D-Massachusetts), Tina Smith (Democracy ), Chris Van Hollen (Democrat), Jeanne Shaheen (DN.H.), Richard Blumenthal (Democrat from Connecticut), and Sherrod Brown (Democrat from Ohio)).

“How the United States works[s] To accelerate the development of clean and renewable energy in the long term, we must ensure that Americans can afford to refuel their cars before refueling, ”the senators wrote.

Energy shortages in Europe and Asia have boosted demand for American liquefied natural gas, pushing energy prices up. The restriction on gas spending in the shale sector and barriers to the construction of new pipelines have also raised concerns about power outages in parts of the country, Bloomberg reports.

The base heating fuel price in the United States has nearly doubled this year, and energy prices in Europe have also surged to record levels.

To follow

Andrew Chen is an Epoch Times correspondent based in Toronto.

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