excalibur
Diamond Member
- Mar 19, 2015
- 18,241
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We're living off the Trump-era energy policies. But since Day 1, Biden has been working against future production.
They hate you.
1. President Biden is again attacking affordable American energy through a spate of recent decisions making it more difficult and costly to produce oil and gas on federal lands.
2. His Department of Interior has proposed a rule that will remove oil and gas production from roughly one-half of an Indiana-sized (23 million acre) National Petroleum Reserve in Alaska.
3. Biden is lifting the prices companies pay the government for royalties, rents and fees, which will reduce investment and infrastructure development on federal lands.
4. Biden is paring down a lease sale in New Mexico….one of the very few planned as he has leased fewer acres than any President since WWII.
5. President Biden directed the Department of Interior to repeal the existing policy goal of “American Energy Independence,” immediately upon entering office.
6. These actions will hurt national security, increase prices for consumers, and drive investment offshore, where Biden is ignoring sanctions against Iranian and Venezuelan oil production.
The Biden administration has been active over the past month in producing policies to put future domestic oil and gas production on public lands in jeopardy. Specifically, he has proposed removal of 13 million acres from the National Petroleum Reserve—Alaska, finalized policies that increase the cost of producing oil and gas on federal land, and cut the amount of land to be leased for oil and gas development in a New Mexico auction by over 3000 acres. These are on top of holding the fewest OCS sales in the history of the program and leasing fewer acres than any President since WWII. These actions harm national security, reduce jobs, and raise prices for oil and gasoline for American consumers. With global oil demand increasing, global oil production slowing, and geopolitical tensions high, it is a dangerously vulnerable time to put further restrictions on domestic oil and gas production, but Biden is working to gain votes from people unfamiliar with energy facts for this November and doing what he can to demonstrate he is serious about his campaign pledge to end oil and gas production.
Biden Blocks Oil Development in the National Petroleum Reserve—Alaska
The Biden administration is preparing to finalize a rule to restrict future oil and natural gas development across approximately 13 million acres of the National Petroleum Reserve-Alaska and increase requirements for future drilling in the rest of the reserve. The U.S. government set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago, but Biden wants to block production on half of it, most likely to gain the votes of environmentalists during an election year. According to Biden’s Interior Department, the rule would not affect existing leases, so it would not affect ConocoPhillips’s 600-million-barrel Willow oil project in the reserve. But oil companies and Alaska lawmakers believe the regulation could hamper investment and infrastructure development. There have been mammoth discoveries in the reserve, which means decades of potential production needed to sustain the Trans-Alaska Pipeline. As such, Biden’s actions would harm America’s energy security, defy federal law, and ignore rising energy prices and growing global volatility.
...
The new royalty rate codified by the IRA is expected to remain in place until August 2032, after which it can be increased. The new rate would increase costs for oil and gas companies by an estimated $1.8 billion over that period, according to the Interior Department.
Unfortunately, the rule changes will result in less drilling, fewer jobs and more dependence on oil from the Middle East at a time when oil markets are extremely tight. As energy demand continues to grow, oil and natural gas development on federal lands is needed for maintaining energy security and powering the U.S. economy. Overly burdensome land management regulations will put oil and gas supply at risk when no alternative exists, despite Biden’s energy transition plans, which are not working to the extent needed to put an end to oil and gas consumption that is continuing to rise around the world. Biden threatened to end oil and natural gas production on federal lands during his last campaign and he is demonstrating to his constituents that he will continue to make it economically impossible to produce energy on federal lands, in hopes of gaining votes in November.
...
Conclusion
The Biden administration has undertaken several proposed and finalized policies over the past month to make it more difficult to produce oil and gas in the United States, despite U.S. needs and the needs of our allies. Despite the U.S. government setting aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago, the Biden administration is ignoring the intent of Congress by moving to block oil and gas development across more than half of it. President Biden has also finalized rules to increase the cost of producing oil and gas on public lands, which will likely increase the price of oil and gasoline for American consumers. His Interior Department has also cut over 3000 acres from a lease sale in New Mexico. These actions will hurt national security, reduce jobs, increase costs for consumers, tighten an already tight oil market with a volatile Middle East, and drive investment offshore, where Biden is ignoring sanctions against Iranian and Venezuelan oil production. Biden is looking for votes this November and he is continuing his anti-oil and gas policies to gain that support.
www.instituteforenergyresearch.org
They hate you.
1. President Biden is again attacking affordable American energy through a spate of recent decisions making it more difficult and costly to produce oil and gas on federal lands.
2. His Department of Interior has proposed a rule that will remove oil and gas production from roughly one-half of an Indiana-sized (23 million acre) National Petroleum Reserve in Alaska.
3. Biden is lifting the prices companies pay the government for royalties, rents and fees, which will reduce investment and infrastructure development on federal lands.
4. Biden is paring down a lease sale in New Mexico….one of the very few planned as he has leased fewer acres than any President since WWII.
5. President Biden directed the Department of Interior to repeal the existing policy goal of “American Energy Independence,” immediately upon entering office.
6. These actions will hurt national security, increase prices for consumers, and drive investment offshore, where Biden is ignoring sanctions against Iranian and Venezuelan oil production.
The Biden administration has been active over the past month in producing policies to put future domestic oil and gas production on public lands in jeopardy. Specifically, he has proposed removal of 13 million acres from the National Petroleum Reserve—Alaska, finalized policies that increase the cost of producing oil and gas on federal land, and cut the amount of land to be leased for oil and gas development in a New Mexico auction by over 3000 acres. These are on top of holding the fewest OCS sales in the history of the program and leasing fewer acres than any President since WWII. These actions harm national security, reduce jobs, and raise prices for oil and gasoline for American consumers. With global oil demand increasing, global oil production slowing, and geopolitical tensions high, it is a dangerously vulnerable time to put further restrictions on domestic oil and gas production, but Biden is working to gain votes from people unfamiliar with energy facts for this November and doing what he can to demonstrate he is serious about his campaign pledge to end oil and gas production.
Biden Blocks Oil Development in the National Petroleum Reserve—Alaska
The Biden administration is preparing to finalize a rule to restrict future oil and natural gas development across approximately 13 million acres of the National Petroleum Reserve-Alaska and increase requirements for future drilling in the rest of the reserve. The U.S. government set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago, but Biden wants to block production on half of it, most likely to gain the votes of environmentalists during an election year. According to Biden’s Interior Department, the rule would not affect existing leases, so it would not affect ConocoPhillips’s 600-million-barrel Willow oil project in the reserve. But oil companies and Alaska lawmakers believe the regulation could hamper investment and infrastructure development. There have been mammoth discoveries in the reserve, which means decades of potential production needed to sustain the Trans-Alaska Pipeline. As such, Biden’s actions would harm America’s energy security, defy federal law, and ignore rising energy prices and growing global volatility.
...
The new royalty rate codified by the IRA is expected to remain in place until August 2032, after which it can be increased. The new rate would increase costs for oil and gas companies by an estimated $1.8 billion over that period, according to the Interior Department.
Unfortunately, the rule changes will result in less drilling, fewer jobs and more dependence on oil from the Middle East at a time when oil markets are extremely tight. As energy demand continues to grow, oil and natural gas development on federal lands is needed for maintaining energy security and powering the U.S. economy. Overly burdensome land management regulations will put oil and gas supply at risk when no alternative exists, despite Biden’s energy transition plans, which are not working to the extent needed to put an end to oil and gas consumption that is continuing to rise around the world. Biden threatened to end oil and natural gas production on federal lands during his last campaign and he is demonstrating to his constituents that he will continue to make it economically impossible to produce energy on federal lands, in hopes of gaining votes in November.
...
Conclusion
The Biden administration has undertaken several proposed and finalized policies over the past month to make it more difficult to produce oil and gas in the United States, despite U.S. needs and the needs of our allies. Despite the U.S. government setting aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago, the Biden administration is ignoring the intent of Congress by moving to block oil and gas development across more than half of it. President Biden has also finalized rules to increase the cost of producing oil and gas on public lands, which will likely increase the price of oil and gasoline for American consumers. His Interior Department has also cut over 3000 acres from a lease sale in New Mexico. These actions will hurt national security, reduce jobs, increase costs for consumers, tighten an already tight oil market with a volatile Middle East, and drive investment offshore, where Biden is ignoring sanctions against Iranian and Venezuelan oil production. Biden is looking for votes this November and he is continuing his anti-oil and gas policies to gain that support.
Biden Attacks the Oil and Gas Industry, Removing Public Lands from Development, Raising Production Costs and Cutting Back on Land Offered at Auction
The Biden administration has been active over the past month in producing policies to put future domestic oil and gas…
www.instituteforenergyresearch.org
