The CEO of TotalEnergies stated that “if in addition to the Russians, we lose American oil and gas, it’s not a shock, it’s a super shock.”
Patrick PouyanneCEO of the French oil company TotalEnergiesstated that the presidential elections in the United States could trigger a great energy crisis if they won republicans and they decided curb hydrocarbon exports.
“The only thing that could happen, which is a major systemic riskis that the republicans decide stop exportingr (…) In fact, I’m not even sure it was the gassomeday it could be the Petroleum“, declared pouyanne at a round table when consulted by potential risks to global supply.
oil-brent.jpg
iStock
“Americans base all their policies on the domestic price of gas or oilThey have resources, and if they consider that exports make their prices rise, they block us. Now I can tell you that if in addition to the Russians, we lose American oil and gasIt’s not a shock, it’s a supershock“, he said, speaking alongside other industry executives.
The importance of the US elections
At least 11 Republican hopefuls have announced that they will try to win their party’s nomination for take on Democratic President Joe Biden in the elections of November 2024. Few concrete political promises have yet been made public.
USA
“From this point of view, Elections can matterbut in the end, it is not (the president) who decides, it is the private actorsPouyanne added.
The Biden government last year carried out the largest sale in the history of the Strategic Petroleum Reserveof 180 million barrels, as part of a strategy to stabilize oil markets and fight the high prices at the pumps after the Russian invasion of Ukraine.
oil-barrels
Pixabay
The sale angered Republicanswho accused the government of letting USA with too small a reserve to adequately respond to a future supply crisis. Meanwhile, Pouyanne also said that he expects a barrel price “steadily high” due to the global shift towards cleaner energy sources and declining investment in oil.
Source: Ambito
