U.S. Secretary of Energy Jennifer M. Granholm recently issued a statement in response to International Energy Agency (IEA) member countries declaring a collective oil release.
In her response, Granholm stated that the U.S. was "proud" to collaborate with 30 other IEA members in response to Russian President Vladimir Putin's recent invasion of Ukraine.
"The contribution of nearly 60 million barrels in today's announcement from other countries with President Biden's previous announcement of 1 million barrels per day for six months, will release a combined amount of 240 million barrels," Granholm said in a recent energy.gov press release.
This latest action was the culmination of effective diplomacy by the U.S. and its allies, Granholm said. She also noted that the action marks the greatest release from the U.S. and from other countries in IEA history.
"Today, India released a statement stating that it is examining what it can do to support these actions," Granholm said. "Other countries have also made announcements consistent with the IEA release to increase supply to support consumers."
The secretary added that Canada and Brazil have both declared plans to boost their oil output to 200,000 and 300,000 barrels per day, respectively, by the end of this year.
"This historic commitment is a wartime bridge that will support American consumers and the global economy as we move full speed ahead on the necessary investments in clean energy that will reduce domestic and international dependence on Russian oil and gas," Granholm said in the release.
Clean energy technologies are now available and cost-effective worldwide, Granholm stated, noting also that increasing clean energy is the ideal way of achieving a society in which energy cannot be utilized as a tool for political pressure or a threat to national security.
