Skip to Content

Photo supplied
Washington

US faces biggest energy crisis in half a century

The energy crisis the US is facing now may be the worst in 50 years. This was voiced by none other than the head of the US Oil and Gas Association, Tim Stewart.

Published: May 18, 2022, 11:23 am

    Read more

    “We are experiencing the greatest, possibly the worst, energy crisis in the last 50 years. Gasoline and diesel prices are at record highs and inventories are at record lows,” Stewart told Fox News. At the same time, he stressed that the current US authorities have not only failed to take the necessary action, but also interfere with those who want to resolve the energy crisis.

    “What did the [Biden] administration do this week? What was their major energy announcement? It was to pull millions of acres of federal leases off the table and potentially trap billions of barrels into the ground. It’s really frustrating. I mean, this administration has no strategy to help us get out of it. And frankly, all the actions that they take are counterproductive to those of us who are trying to solve this problem,” he said.

    Gasoline prices in the US have been rising steadily, including this week. The increase in fuel prices comes against the backdrop of rising world oil prices, despite the attempts of the White House to counter this trend. On Saturday, according to the non-profit American Automobile Association, the cost of gasoline again exceeded the historical maximum and reached 4,452 dollars per gallon (3,785 liters). A year ago, this figure was at the level of 3 dollars per gallon.

    The crisis in the United States is only part of the global picture

    Meanwhile, the crisis in the US is only part of the global energy crisis. This opinion was expressed by IEA chief Fatih Birol: “I believe we are in the middle of the first global energy crisis. In the 70s we saw the oil crisis, which had big consequences for the economy and inflation. But it was only oil. Let’s remember that Russia is the world’s number one oil exporter and the world’s number one natural gas exporter, as well as a major player in the materials used by the energy sector.”

    “Therefore, the sanctions that have been imposed on Russia or political decisions from the Kremlin have and will have great consequences for the energy market,” said the Executive Director of the International Energy Agency. It would be too optimistic to believe that the current volatility in the energy market would soon pass, he said, and the world returning to times of low prices and stable market conditions.

    “This has led us to work with many governments to try to support them on how they can reduce their dependence on Russia and minimize the impact on their economies and residents,” Birol explained. The head of the IEA also warned that “the next few years will not be easy.”

    But he added that the “extraordinary financial windfall for the oil and gas sector from today’s high prices could provide a major boost to clean energy investment”.

    Consider donating to support our work

    Help us to produce more articles like this. FreeWestMedia is depending on donations from our readers to keep going. With your help, we expose the mainstream fake news agenda.

    Keep ​your language polite​. Readers from many different countries visit and contribute to Free West Media and we must therefore obey the rules in​,​ for example​, ​Germany. Illegal content will be deleted.

    If you have been approved to post comments without preview from FWM, you are responsible for violation​s​ of​ any​ law. This means that FWM may be forced to cooperate with authorities in a possible crime investigation.

    If your comments are subject to preview ​by FWM, please be patient. We continually review comments but depending on the time of day it can take up to several hours before your comment is reviewed.

    We reserve the right to del​ete​ comments that are offensive, contain slander or foul language, or are irrelevant to the discussion.

    Americas

    Buying farmland: Bill Gates is ‘not welcome’ in North Dakota

    BismarckThe billionaire is considered the largest owner of farmland in the United States. This puts him in a "unique position to harm conventional agriculture," according to a Spanish newspaper. Resistance is therefore growing in North Dakota.

    Former US NATO policy planner urges Ukraine to cut a deal

    WashingtonThere has been a recent rise in voices in the US advising a negotiated settlement to the Ukraine war – positioning themselves against the Kiev government, which is clinging to continued fighting despite mounting casualties.

    Genetics: Scientists wanted friendly hamsters but made them much more aggressive

    AtlantaGeneticists admitted that they had been "really surprised" after a gene-editing experiment with the CRISPR/Cas9 technique went horribly wrong. They had instead turned the hamsters they had been injecting with their potion into hyper-aggressive monsters.

    Runner dies after Brooklyn marathon, 15 others hospitalized

    New YorkA runner died on Saturday morning after completing the Brooklyn Half Marathon, authorities said. The 30-year-old man possibly went into cardiac arrest around 9 am local time and was taken to hospital, where he was pronounced dead.

    Documentary on the rigging of 2020 US election

    WashingtonAmerican political commentator Dinesh D’Souza has produced a documentary about how the 2020 US presidential election was rigged in favor of Joe Biden. Since 2 May 2022, his film has been screened in 250 theaters.

    Americans are beginning to doubt Biden’s mental capacity

    WashingtonIt turns out that the world has been making fun of President Biden for a reason. Judging by opinion polls, many American citizens believe that it is time for their geriatric leader to resign.

    New US ‘Disinformation Governance Board’ director linked to Ukraine

    WashingtonThe new managing director of a US watchdog set up to fight Russian "disinformation" advised the Ukrainian government. The US Department of Homeland Security has appointed Nina Jankowicz, previously also a propagandist for the Democratic Party.

    US food production threatened by mysterious fires in meat plants

    More and more food processing plants are going up in flames in the US. Sixteen such incidents have been recorded so far. The background is unclear, but terrorism is being ruled out.

    Being ‘non-binary’ in the US has become a gainful choice

    Palm Springs, CaliforniaIn the US, the privileging of sexual minorities compared to the "normal" rest of the population is making great strides. Being "non-binary" is a now also a lucrative choice: An amount of $1000 will be paid every month to each individual who identify as a transgender American.

    Hunter Biden funded biowarfare research of US labs in Ukraine

    WashingtonThe company linked to bioweapon gain-of-function research in Ukraine and pandemic insurance was also funded by none other than Hunter Biden. Information contained on his abandoned laptop has turned out to be reliable.

    Go to archive