API CEO Warns of Rising Oil Prices Without Increased Domestic Production

API CEO Mike Sommers discussed rising oil prices and petroleum reserves on Fox Business.

In a recent interview, Sommers stated that 'we're at a point where we have to start thinking about how we can get more oil and gas out of the ground.' He emphasized the importance of increasing domestic production to meet growing demand.

Sommers noted that the US has not increased its oil reserves since 1990, despite rising global demand. He highlighted the need for the government to take action to boost domestic production and reduce reliance on foreign imports.