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Energy Boss Granholm Calls on Oil Companies to Increase Supply

Energy Secretary Jennifer Granholm called on United States’ oil companies to increase production to try to help bring down the elevated prices Americans are paying at the pump. Granholm’s comments came during a Nov. 23 White House press briefing, hours after President Joe Biden ordered 50 million barrels of oil released from the nation’s Strategic Petroleum Reserve (SPR)—the largest ever release. “We want to encourage [oil companies] to increase supply,” said Granholm. “We want supply to be increased both inside the United States and around the world so we can reduce the pressures at the pump.” Domestic oil production continues to remain below pre-pandemic levels. The U.S. was producing just over 11 million barrels per day of crude oil in August compared to more than 12 million barrels per day in 2019, according to the U.S. Energy Information Association. Granholm says there are 250 fewer oil rigs functioning today than …

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