By David Gaffen

HOUSTON (Reuters). Despite the increasing energy crisis in Ukraine following Russia’s invasion, oil and gas companies should increase production quickly.

Granholm stated that in times of crisis, we require more supply. Granholm spoke to attendees at Houston’s CERAWeek energy conference. To meet the current demand, oil and gas production must rise right now.

Granholm claimed that President Joe Biden’s Administration wants to work with the energy industry. This is despite the fact that the White House has been pushing to speed up the transition to lower carbon economies.

Biden on Tuesday banned Russian oil imports. This move was praised by several Houston shale executive at CERAWeek. Since Russia invaded Ukraine, the White House already had imposed sanctions against Russia.

Granholm recognized that it was challenging to strike a balance between oil and gas production, while also considering the significance of global warming’s energy transition. Granholm, along with other U.S. officials, have become more vocal in recent weeks about how to address supply issues as the government has been criticized for increasing fuel prices.

Granholm stated, “We must responsibly increase the short-term supply wherever we can now to stabilize market.”