On Wednesday's edition of CNN's “New Day,” Energy Secretary Jennifer Granholm stated that the Biden administration would like the oil and natural gas industry to boost production right now, but also “become diversified energy companies, to be able to produce other means of clean energy.”
The co-host John Berman asked, “Do you want five years from now, ten years from now, are you telling me you want them drilling for more oil, you want the refineries putting out more gasoline in five or ten years?”
Granholm said, “What we're saying at the present time is that we need to increase the supply of energy. Of course that will happen in 5 or 10 years not immediately, but we're also pushing to the accelerator in the direction of a transition to renewable energy sources so that we won't need to be at the control of oil-rich dictators like Putin or subject to the whims of the volatile nature that fossil fuels can bring. The bottom line is that America is the most secure when we are able to count on our own renewable energy sources by wind or solar.”
Berman is then quick to ask “But that's the issue with these firms. They're declaring. I'm being asked to do more today to invest more now even though in 5 or 10 years from now we don't believe that demand will be present, and the administration does not intend to see it there. A final question regarding Saudi Arabia, the president is scheduled to visit Saudi Arabia, where we believe he'll be meeting with the the Crown Prince Mohammed bin Salman. Do you have any assurance that the Saudis will boost production?”
Granholm replied, “No, there's no guarantee prior to that. He's — no, there's not. Let me simply say: John is a great guy. We would like to see us shift towards a clean energy system however, we need to see this growth as of now. We have been asking the petroleum and gas firms to diversify their portfolios and ensure that they are part of the process to become diverse energy firms, so that they are capable of producing other forms of energy that are clean. Because they have enormous large pockets and huge reserves, they have the potential to make investments in the near future and they can also invest right now to ensure that we don't witness gas and oil causing the numbers of inflation and seeing people getting hurt each day.”
