(OP)inions Is fracking the answer?

March 10, 2022 

U.S. imports of oil from Venezuela and Iran would be banned under legislation being introduced this week by Republicans. 

The move is an attempt to forestall any potential effort by the Biden administration to turn to Venezuela or Iran -- if a nuclear deal is reached with Tehran -- as a cushion to rising crude prices sparked by the Ukraine war and a U.S. ban on Russian oil imports.  

The U.S. doesnt currently import oil from either nation, both of which are under sanctions regimes.  

Republicans wants to see the U.S. increase domestic oil and gas production to offset rising crude prices, and said importing petroleum from Iran and Venezuela -- both allies of Russia -- would only serve to enrich American rivals.  

“Under no circumstance should we be funneling money into the hands of dictators and narco-terrorists, who are also allies of Vladimir Putin,” Marco Rubio said in a statement. “Enough is enough -- its time to bring energy production back home.” 

President Joe Biden announced Tuesday the U.S. would cease importing Russian oil and gas. But administration officials are taking part in talks with world powers in Vienna to revive the 2015 Iran nuclear deal that then-President Donald Trump withdrew from in 2018. If a deal is reached, it could free up millions of barrels of oil for global markets.  

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