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Biden Official Heckled by Oil Group After Urging Shale Boost -Breaking

by Mike Robinson

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© Bloomberg. David Turk (acting deputy executive director at the International Energy Agency) speaks by videoconference during a hearing of Senate Energy and Natural Resources Committee in Washington, D.C. on Tuesday June 16, 2020. This hearing will focus on Covid-19’s impact on the energy sector.

(Bloomberg) — The Biden administration’s No. 2 energy official was heckled at an international oil conference after admonishing U.S. drillers to step up production in the industry’s de facto hometown.

On Monday, David Turk, Deputy Energy Secretary, told shale-explorers that the government has already done its part in lowering fuel prices by giving up a portion of its strategic crude reserves.

“Now there’s needed leadership by our domestic producers,” Turk said in opening remarks at the World Petroleum Congress in Houston. “The reality is the Biden administration is not standing in the way of increasing domestic oil production to meet today’s energy needs.

His remarks provoked a heckler in the audience: “Why don’t you help us then?”

Turk’s remarks preceded the presentations of chief executives Exxon Mobil Corp (NYSE :). And Chevron Corp. (NYSE:) — the nation’s largest oil explorers — came on the same morning that refiners’ bids for crude from the strategic reserve were due.

“The top 54 publicly traded companies earned over $30 billion in the second quarter of this year, slightly more than just before the pandemic, and production has not yet recovered,” Turk said.

©2021 Bloomberg L.P.

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