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Market Watch: Republicans urge U.S. oil and gas ‘stability’ from new drilling as answer to Russia, other security threats

Posted by Rachel Koning Beals on Mar 2, 2022

Market Watch highlighted ongoing stress over tight oil and gas markets, quoting AEE's Nat Kreamer on how advanced energy technologies can shield the U.S. from dangerous geopolitics. Read snippets below and the full article here.

The Biden administration is treading carefully around oil and gas issues as fuel prices — particularly at the gasoline pump — shoot higher and inflation hits several pockets of the economy simultaneously.

U.S. benchmark oilCL00 soared above $100 a barrel this week, closing at its highest since 2014. Natural gasNG00 is trading up some 30% so far this year. Prices have been jolted higher in part as the Russian invasion of Ukraine raised supply uncertainty on top of a surge in demand after the worst of COVID-19 passed.

Tuesday night’s State of the Union address included a gentle push for renewable energy, but framed it around cost savings for U.S. households...

At least one representative of the clean energy space says it’s technology that will keep U.S. energy and U.S. borders secure.

“What advanced energy does is replace commodities with technologies, which get cheaper and better over time, just like computers and televisions,” said Nat Kreamer, CEO of Advanced Energy Economy, and a military veteran.

“We have seen it in the falling prices of wind and solar power, and we are seeing it happen in the batteries that power electric cars TSLA, 1.29%, trucks, and buses,” Kreamer said. “Domestically manufacturing components for clean energy and transportation, and shoring up technology supply chains, will further insulate the U.S. economy from dangerous geopolitics.”

Read the full article here.

Topics: AEE In The News, Nat Kreamer