“There is a foreign policy dividend in keeping a lid on oil prices,” said David Goldwyn, who was a leading energy diplomat in the Obama administration.
Exxon Mobil was kicked out of the Dow Jones industrial average, and some European oil companies announced plans to pivot from fossil fuels to renewables more quickly.
While he has supported green energy and battery-powered cars, he has also hectored oil companies to increase production in an effort to drive down prices for consumers.
He has approved a large drilling project in Alaska over the objections of environmentalists and a small number of offshore oil and gas permits.
Mr. Biden has been under pressure from some Democrats to trumpet gains in oil production as a way of reaching out to voters who are leery of high gas prices.
Persons:
”, David Goldwyn, Obama, Joe Biden, Biden
Organizations:
Investors, Exxon Mobil, Dow
Locations:
Alaska