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We want oil and gas companies to “diversify” to produce clean energy

On Wednesday’s broadcast of CNN’s “New Day,” Energy Secretary Jennifer Granholm said the Biden administration wants oil and gas companies to ramp up production now, but also want them to “become diversified energy companies, in order to be able to produce other means of clean energy”.

Co-host John Berman asked, “Do you want five years from now, ten years from now, are you telling me you want them to drill for more oil, do you want refineries to be producing more gasoline in five or ten years?”

Granholm replied, “What we’re saying is that today we need that supply to be increased. Of course, in five or ten years – in fact, in the immediate term, we are also stepping on the accelerator, if you will, to switch to clean energy so that we do not have to be under the thumb of petro-dictators like Putin or according to the volatility of fossil fuels. Ultimately, America will be safer when we can rely on our own clean domestic production of solar, wind….”

Berman then interrupted to ask, “But that’s the problem for these companies. These companies say. You’re asking me to do more now, to invest more now, when in fact, in five or ten years, we don’t think the demand will be there, and the administration doesn’t even necessarily want it to be there . Just one last question on Saudi Arabia, the President is traveling to Saudi Arabia, where we understand he will meet Crown Prince Mohammed bin Salman. Is there some kind of prior promise that the Saudis will increase production? »

Granholm replied, “No, there is no prior promise. He is – no, there isn’t. And let me say, John, we really want to see us move into clean energy, but we also need to see that increase right now, and we’re also asking oil and gas companies to diversify and make sure that part of the — that they become diversified energy companies, to be able to produce other means of clean energy. Because they have huge deep pockets they have a great ability to invest in the future as well as to invest now so we don’t see oil and gas causing the inflation numbers and hurting the people every day.

Follow Ian Hanchett on Twitter @IanHanchett

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