Biden Administration's Ambitious Plan to Tackle Surging Oil Prices
Energy Secretary Chris Wright acknowledges the challenges in bringing down skyrocketing gas prices, but says the U.S. is working to secure critical oil chokepoints like the Strait of Hormuz.
Energy Secretary Chris Wright cautioned Americans that there are no guarantees oil prices will fall anytime soon, despite the Biden administration's efforts to address the global supply crunch. In an exclusive interview with ABC News on Sunday, Wright acknowledged the immense pressure facing consumers at the pump as crude oil and gasoline prices continue to soar.
"We are doing everything in our power to increase production and secure key oil transit routes, but the simple fact is that global energy markets are extremely volatile and unpredictable right now," Wright said. "There are no easy solutions, and Americans should be prepared for prices to remain high for the foreseeable future."
{{IMAGE_PLACEHOLDER}}Source: The New York Times
