OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Conaway Statement on Oil Prices

Statement

Date: April 20, 2020
Location: Washington, DC
Issues: Oil and Gas

Congressman Mike Conaway (TX-11) released the following statement after oil prices hit historic lows Monday afternoon:

"There is no way to sugarcoat this news- oil producers are in for the fight of their lives. To stop prices from hemorrhaging further, it's critical that we act quickly. Following House Republicans' calls to use SPR, the Department of Energy is in negotiations for contracts with nine U.S. companies to store domestically produced crude oil in the Strategic Petroleum Reserve (SPR), which will help alleviate the storage shortages.

"Given today's news, I am calling on the Department of Commerce to conduct an expedited anti-dumping investigation into Saudi Arabia. Enough is enough. We must use all the tools available in our arsenal.

"It won't be easy but we will get through this downturn, just like we have in the past. It's in our West Texas DNA."


Source
arrow_upward