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    Home > Chemicals Industry > Petrochemical News > 17 votes in favor, 4 votes against! The U.S. Senate passed a bill requiring countries to increase oil production

    17 votes in favor, 4 votes against! The U.S. Senate passed a bill requiring countries to increase oil production

    • Last Update: 2023-02-23
    • Source: Internet
    • Author: User
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    Since the outbreak of the Russian-Ukrainian conflict, although the United States has taken the lead in launching large-scale economic sanctions against Russia, the United States itself has also been greatly affected, Russia accounts for one-tenth of the world's energy exports, the conflict between the two countries coupled with sanctions by Western countries, resulting in the world energy market price is very unstable recently, the United States is also affected
    .

    The U.
    S.
    Senate passed a bill requiring countries to increase oil production

    On May 5, local time, the U.
    S.
    Senate Judiciary Committee passed an important bill with a 17:4 vote called "Banning Oil Production or Export Cartel" (NOPEC), which aims to allow the U.
    S.
    Department of Justice to separately prosecute the Organization of Petroleum Exporting Countries (OPEC) and its allies for raising oil prices, including those countries that are considered allies of the United States, such as Qatar, Saudi Arabia and other countries, according to the United States.
    The reason for passing this bill is to anti-monopoly and curb the trend of rising global crude oil prices, and Saudi Arabia and Russia are also considered by the United States to be the "culprits"
    that provoke international crude oil prices.

    As early as April, former US Secretary of State Hillary Clinton accused Saudi Arabia of not curbing the rise in oil prices by increasing oil production, and Clinton also said that it would force Saudi Arabia to increase their oil production in the form of "carrots and sticks", and the bill introduced this time is to cater to Hillary's proposition, and if OPEC members do not increase oil production according to the requirements of the United States, the United States will prosecute
    them.

    The fundamental reason why the United States is so "urgent" is still caused by domestic problems

    The reason why the United States passed this almost "tricky" bill in such a short period of time is mainly caused by the recent serious economic problems in the United States, since March this year, the inflation rate in the United States has been high, and it has reached the highest level in 40 years, and the continuous increase in inflation rate has made the cost of living for ordinary Americans higher and higher, but this is only one of them, under the influence of the Russian-Ukrainian conflict, the price of fuel and natural gas for Americans is getting higher

    According to a survey on May 5, the current domestic fuel prices in the United States have soared to the highest level in 14 years, while natural gas prices have risen by as much as 30%, although the Biden administration has taken a variety of measures to curb the rise in energy prices, but still to no avail, if you continue to allow energy prices to rise, the inflation rate in the United States will also increase, for this reason, the Biden administration can only rely on this "tricky" general bill at this time, forcing other countries to increase oil production to control international energy prices, it can be said, The United States sanctioned Russia, and in the end it sanctioned
    itself.

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