Gas prices in the U.S. could rise to an average of $3.30 per gallon in 2012, the top official at the U.S. Energy Information Administration told a congressional committee Thursday.
Gas prices in the
U.S.
could
rise to an average of $3.30 per gallon in 2012, the top official at the U.S.
Energy Information Administration told a congressional committee Thursday.
The prediction from EIA Administrator Richard Newell came as the Republican
majority of the House Subcommittee on Energy and Power called a hearing to
build the case for increased
U.S.
oil
production.
John Hofmeister, CEO of Citizens for Affordable Energy and an advocate for
increased oil production in the
U.S.
, told
the committee oil prices could rise even higher, to $5 per gallon in 2012.
"The decline in the
Gulf of Mexico
will
be sharper and deeper than anyone is predicting," Hofmeister said,
criticizing the fact that the Obama administration has slowed the review
process for new drilling projects in the Gulf. "We have made a horrible
error as a country."
Increases in oil prices would add momentum to the already contentious debate
over energy policy among
U.S.
lawmakers. While many Democrats are pushing for investments and incentives in
renewable energy, Republicans and oil state Democrats say supporting oil and
gas production at home should be the priority.
"This administration has been focused on green energy projects," said
Ed Whitfield (R., Ky.), the subcommittee chairman. "But I think most of us
agree that this a long, long, long term solution to our problem."
Also at the Thursday hearing, Deutsche Bank AG (DB) chief energy economist Adam
Sieminski said more production in
North
Dakota
and the
Gulf of Mexico
would
benefit
U.S.
consumers.
"The good news for consumers around the world is that non-OPEC supplies
are growing very strongly," Sieminski said, referring to production by
Canada
, the
former
Soviet Union
,
China
, and
elsewhere. "If we could do more ... in the
Gulf
of Mexico
and so on, I think that would really help."
Democrats said policies that could reduce consumption in the
U.S.
, such
as emissions standards for automobiles, would be more effective in combating
rising oil prices.
"We're not going to affect the cost very much no matter where we drill in
the
United States
,"
said Rep. Jay Inslee (D., Wash.).
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01