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McCarthy Applauds Administration’s Work to Stop Saudi Arabia and Russia’s Unfair Oil Production Practices

Apr 3, 2020
Press Release

 

Today, Congressman Kevin McCarthy attended a meeting at the White House regarding the ongoing oil production war between Saudi Arabia and Russia, and its negative global economic impacts. McCarthy released the following statement on the United States’ efforts to hold these countries accountable:
 
“Saudi Arabia and Russia’s turf war for market share has severely damaged the price of oil and subsequently, America’s oil producers.  
 
“We cannot allow this to happen.
 
“I applaud the efforts by President Trump and the administration to engage directly with both Saudi Arabia and Russia and encouraging them to reduce oil production and stabilize global prices. The oil and gas industry contributes over 350,000 jobs to California’s economy annually, and I look forward to working with stakeholders and the administration to ensure that our Kern County, Californian, and American oil and natural gas producers have a level playing field during this global economic crisis.” 

 

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Background
Yesterday, Representatives Kevin McCarthy, Mac Thornberry (TX-13), and Greg Walden (OR-02) wrote a letter to Secretary of State Mike Pompeo urging the Department of State to address geopolitical market manipulation.