The nation's oil price problems are "very solvable," even if the issue with the Keystone XL pipeline was solved with the help of President Joe Biden's son Hunter, Rep. Matt Rosendale, R-Mont., said Tuesday on Newsmax.
"It's very unfortunate that Trans Canada Corp. didn't place Hunter Biden on the board of directors to make sure that they can keep the permit in place for the Keystone XL pipeline," Rosendale said on "John Bachman Now," taking a jab at the younger Biden and his multi-million dollar job for the Ukraine oil company Burisma.
"I think that probably would have been a much better investment than paying all the legal fees that they have and still not being able to keep the pipeline in place,."
Had Keystone XL moved forward, it would have transported about 800,000 barrels a day of crude oil from Canada, Montana, and North Dakota, said Rosendale, noting that under former President Donald Trump, the United States was producing about 13 million barrels of crude oil a day.
"Under this administration, that's been reduced to about 11 million barrels a day," Rosendale said. He noted that there would have been an on-ramp to the pipeline for the Montana and North Dakota oil production, which would have also added tax revenue to the United States.
"We would have had the supplies going into the global marketplace and helping us keep those prices down instead of purchasing 600,000 barrels a day of Russian crude," Rosendale said. "We're delighted to see that legislation come forward to stop and halt the imports of crude oil from Russia, and we immediately saw the price of crude start going down as the global market started seeing some activity. It's all about supply and demand and that, that supply is still going to be available out there."
However, there is a concern that Biden may "go around and pick another tyrant" now that the supplies from Russia have been cut, he said, referencing the leaders of Venezuala, Iran and Saudi Arabia.
Rosendale also rejected the idea of tapping into the strategic oil reserves, which he said are to be kept "in case we actually enter into a time of war."
"To drain those to provide three days or weeks worth of relief on gasoline prices is ridiculous," Rosendale said. "That's not what they're there for, especially when we have the ability to produce this oil domestically and not have to tap into those resources. All we have to do is had the administration again put the permit back and place for Keystone XL and allow the leasing on federal lands that the courts have ordered him to open up anyway … we can ramp up that production fast as long as the president gets out of the way."
Rosendale also spoke briefly about Ukraine President Volodymyr Zelenskyy's upcoming speech before members of Congress on Wednesday, when he is expected to press his country's call for a no-fly zone to protect it from air attacks from Russia.
The congressman said he does believe what is happening in Ukraine is "tragic," but insisted that the U.S. can't assist with providing the no-fly zone.
"That would put us in direct conflict with Russia, and I personally would not support such actions," Rosendale said. "It's not smart at all."
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