WASHINGTON – White House economic adviser Kevin Hassett announced Thursday that the administration is actively discussing ways to rapidly boost domestic oil production as the Iran conflict threatens global energy supplies.
Speaking to reporters at the White House, Hassett revealed ongoing discussions with energy companies about expediting production increases. “We’ve been in constant communication with the oil companies, and have been considering measures that we could take here in the U.S. to increase U.S. production really soon,” Hassett stated.
The economic adviser indicated that regulatory barriers may be slowing potential production increases. “There are things, regulations that are holding up, like how quickly stuff could come through … and we’re studying those, how we can change those, and we’ve been talking to oil companies about that,” he explained.
The administration’s focus on domestic energy production comes as officials seek to minimize the economic impact of supply disruptions caused by the ongoing conflict involving Iran.
