Texas Governor Greg Abbott scolded the Biden administration for entreating Iran and other foreign oil producers to increase supplies in the face of surging energy prices.
“The fact of the matter is Texas has the capability of producing more oil than all of them,” Abbott said during a speech at FIA’s International Futures Industry Conference in Florida on Wednesday. “We could be providing what we call freedom fuel.”
Abbott’s remarks are the latest escalation in the blame game between the White House and oil- industry executives over who’s at fault as gasoline prices climb to unprecedented levels and mid-term U.S. elections loom.
Abbott spoke alongside billionaire wildcatter Harold Hamm, the founder and chief executive officer of shale giant Continental Resources Inc. Hamm called for more drilling on federally owned land.
The 9,000 already-approved federal drilling permits aren’t nearly enough, he said, plus many are outdated. “It’s obvious we have a failed policy,” Hamm said. “There is a lot of things that need to be changed and be changed quickly.”