Russian Oil Import Ban Buoys Texas Energy Industry Hopes For Increased Domestic Production

Arlington TX

09 March, 2022

7:18 PM

Description

By Bob Francis, Fort Worth Report March 9, 2022 President Joe Biden's ban on imports of Russian oil and natural gas has the Texas energy industry hoping for renewed support for domestically produced energy. "President Biden's decision to ban Russian energy imports means domestic production is now more important than ever," said Ed Longanecker, president of the Texas Independent Producers & Royalty Owners, in a statement. "Texas producers stand ready to meet growing demand for oil and natural gas." The U.S. imported roughly 8% of its oil and petroleum products or 8.5 million barrels of oil from Russia in 2021, according to the Energy Information Agency. Consumers, who have already been hit with rising gas prices, will feel the impact of the Russian ban. To read the full article, click here. Fort Worth Report is a nonpartisan, nonprofit news organization that produces factual, in-depth journalism about city and county government, schools, healthcare, business, and arts and culture in Tarrant County. Always free to read; subscribe to newsletters, read coverage or support our newsroom at fortworthreport.org.