The US Oil and Gas Association announced the worst energy crisis in half a century

Tim Stewart accused the Biden administration of the "worst in 50 years" energy crisis in the USand emphasizedthat the authorities have no strategy to improve the situation

The US is facing its worst energy crisis in 50 years, and the administration of President Joe Biden has no strategy to improve the situation. This was stated by the HEAD of the US Oil and Gas Association Tim Stewart on Fox News.

“We are in the greatest, perhaps the most complex energy crisis in the last 50 years. Diesel and gasoline prices are at all-time highs and inventories are at all-time lows. And what did the administration do this week? What was their main energy statement?” he said.

Stewart accused the Biden administration of being counterproductive to those trying to fix the oil and gas sector.

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The rise in world prices for oil , gas and other fossil fuels has been going on since the end of February, when Russia announced the start of a special military operation in Ukraine. In this regard, many Western countries imposed sanctions against Moscow , which affected financial and industrial organizations, the supply of high-tech products, as well as the reserves of the Central Bank.

On March 8, the US President announced an embargo on the purchase of Russian energy resources. “Today I am announcing that the US is targeting major sectors of the Russian economy: we are banning all imports of Russian oil, gas and energy. This means that Russian oil will no longer be accepted at American ports,” Biden said.

After that, the retail price of a gallon of gasoline in the US overcame an all-time high and exceeded $4.17. To date, this figure is $4.45 for gasoline and $5.56 for diesel.

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Since the beginning of the military operation, the European Union has also introduced several packages of sanctions against Russia. In the last - the fifth package - the EU banned the import and transit of coal from Russia, but the restrictions did not affect gas and oil. The fact that the European Commission is preparing the sixth package of sanctions against Russia, which implies restrictions on the oil sector, was announced in mid-April by the head of the EC, Ursula von der Leyen.

The Russian authorities have repeatedly called the sanctions illegal and warned that in the event of abandoning Russian oil and gas, the West would have to face a sharp rise in prices.