The Senior Vice President for Politics, Economics, and Regulatory Affairs at the American Petroleum Institute, Frank Makirola, warned of the potential effects of the NOPEC bill on global energy markets, at a time when the importance of maintaining price stability in this market is increasing. Macirola said in an exclusive interview with the “Sky News Arabia” website, published by the official Facebook page (SNABusiness), that the United States should focus on policies that increase domestic oil production and provide greater certainty to the market and domestic producers. He pointed out that Washington supports the decision of European countries to stay away from Russian energy sources and to work to provide them with energy supplies as much as possible, noting that this decision belongs to European countries, and “after the Ukrainian crisis, we saw a real desire by European countries to move away from Russian oil and gas supplies and with the continuation of this war.” An increasing number of countries really want to end this dependence.” Macirola expressed his view that it is “important for the United States to support the European allies’ decision in this regard to tighten the screws on Russia, and it is also important for Washington to provide them as much as possible with the energy supplies they need.” He also pointed out that the United States made these efforts to support the paths to dispense with Russian gas, as the supplies of American liquefied gas destined for Europe have increased during the past months, and this is expected to continue during this year and in the coming years. He said: The United States has become more powerful in producing its own resources here at home, and there is no reason to cause turmoil in global oil markets by passing this (NOPEC) legislation. What we really need is stability in energy markets globally, and this legislation really takes us back in this connection. He stressed that the US administration and Congress need to focus on policies that increase oil production here in the United States and provide greater certainty to the market and local producers.
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