President Trump’s chief economic adviser Larry Kudlow said in an interview that aired Monday on “Rising” that the U.S. needs more focus on its energy sector as a means of challenging Russia.
“We are the dominant energy power. We will be producing 15 million barrels of oil per day in a couple years. We’re passing [the] Saudis. We’re passing Russia,” Kudlow told Hill.TV’s Ned Ryun on Friday.
“We have so much natural gas coming out of the Permian Basin, they don’t know what to do with it. They’re flaring it ’cause they can’t use it,” he continued, referring to the oil field between western Texas and southeastern New Mexico.
“So what does that mean? Means we have to have infrastructure for pipelines, east, west, west, east. Get this stuff to the northeast, get this stuff to Europe and challenge Russia’s hegemony on nat gas and LNG [liquified natural gas],” he sais. “This is doable. We have to really focus on the energy sector. Most of this stuff can be done privately.”
Kudlow’s comments come after Reuters reported last week that Russia and Saudi Arabia reached a deal in September to increase their oil output.
The outlet reported that the two countries did not want their move to appear to have been a result of Trump’s call for OPEC and Russia to produce more oil.
The reported action demonstrates that Riyyad and Moscow are increasingly willing to cooperate, without the rest of OPEC.
— Julia Manchester
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