Washington – The US has found new reserves of shale oil and natural gas and therefore, the companies in the oil sector should cooperate with the Trump administration to promote the United States national interests, US Secretary of State Mike Pompeo appealed. US President Donald Trump has declared an ‘energy dominance agenda’, and it envisages of achieving the diplomatic and policy objectives of the United States in Asia and the Middle East on the strength of the US oil and gas. A few days ago, the ‘International Energy Agency’ forecasted that the United States would surpass Russia and Saudi Arabia in oil exports. Considering the forecast, Pompeo’s statement proves significant.
A conference for oil companies was organised at Houston in the United States. During the meet, Pompeo met the executives of leading oil companies. These included Chevron, Total, Royal Dutch Shell, ConocoPhillips and ExxonMobil. As per sources, Pompeo is said to have held independent talks for nearly one hour with the executives of the oil companies.
After the talks, while addressing the conference, Pompeo appealed to the US oil industry to help strengthen the county’s hand at foreign policy. ‘We don’t want our European allies hooked on Russian gas through the NordStream II project, any more than we ourselves want to be dependent on Venezuelan oil supplies,’ Pompeo said as he indicated the United States would become self-sufficient soon.
The increasing oil production and exports have given the United States the ability to meet the internal as well as the international energy demands, Pompeo claimed. ‘However, the capacity needs to augment further, and large investments are required for it. At the same time, allies need to be encouraged to buy oil and gas from the United States while those who violate the rules need to be strictly punishing’ Pompeo said.
Pompeo criticised that some of the countries were using oil to achieve wrongful objectives. He asserted that the United States shares professional trade values and systems with its allies along with the oil exports. At the time, the US Secretary of State specifically mentioned Iran and Venezuela as he warned of making the foreign policy more aggressive against the countries.
‘After assessing the market, the United States would make efforts to bring the Iranian oil exports to be nought,’ Pompeo warned. Additionally, he indicated in clear words that the action against Venezuela would continue by saying that the United States would use all the possible economic tools against the Latin American state.
The United States is currently producing 12 million barrels a day of crude, out of which 3 million barrels are exported. Furthermore, the United States has begun exporting oil to China and India along with the European countries and is taking aggressive steps to reduce their oil imports from Iran and Venezuela. It is apparent from the Pompeo’s statements that the United States would repeat the same policy with other countries as well.
For the last few years, the United States is using its influence to keep the crude rates under a tab. Also, Saudi and the other Middle Eastern countries are cooperating with the United States for the purpose. It had helped to keep the crude rates under control for the last four years. It delivered severe jolts to competing nations such as Russia and Iran, the economies of which are dependent on the crude oil revenue. The United States will try to further weaken Russia and Iran, by keeping the oil prices low. Therefore, Mike Pompeo is appealing to the US oil industry indirectly for cooperation. Moreover, it is a part of the undeclared economic war of the United States, and it seems to have achieved a reasonable success on the front.