Oil and gas experts Rusty Braziel, left, of RBN Energy LLC; Robert McNally of Rapidan Energy Group; and Jason E. Bordoff of Columbia University spoke to the U.S. Senate Committee on Energy and Natural Resources on July 24. (Source: Hart Energy, video screen shots from U.S. Senate Committee on Energy and Natural Resources website)
A group of U.S. senators had a lot of energy questions on their mind and a handful of noted oil and gas consultants explained it all to them. But at the same time, they warned, the U.S. oil and gas industry can handle supply, so don’t set policies that would disrupt the shale revolution.
In other words, don’t release oil from the Strategic Petroleum Reserve (SPR).
The two groups met July 24 before the U.S. Senate Committee on Energy and Natural Resources. Chaired by Sen. Lisa Murkowski (R-Alaska), the stated intent of the hearing was to determine what really drives global oil prices and higher prices at the gasoline pump, and what, if anything, should U.S. policy be as a result.