Joe Biden said he wanted to put oil and gas out of business. He is doing what he said he wanted to do. Who can fault producers for taking him seriously?
Epoch Times (3/9/22) reports: "President Joe Biden’s green energy policies are the key cause of skyrocketing gasoline prices, not the Russian invasion of Ukraine or the fact that federal leases for oil and gas exploration aren’t being fully utilized, according to an energy industry expert. 'Wide swaths of the elected government and administrative state have decided that investments in oil and gas must be minimized and eventually eradicated. There must be steady downward pressure on oil and gas investments,' said Institute for Energy Research (IER) Chairman Tom Pyle. The IER is an independent nonprofit research group that favors continued reliance on fossil fuels. Pyle’s comment came in testimony on March 8 before the House Energy and Commerce Committee’s subcommittee on energy during a hearing on electric vehicles (EV). 'Even as recently as two weeks ago—at the height of the [Biden] administration scrounging around for liquified natural gas they could send to the [European Union]—the Federal Energy Regulatory Commission (FERC) issued two policy statements making it clear that the hurdles to permit liquified natural gas (LNG) terminals and their feeder pipelines would be getting higher, not lower,' Pyle testified. He said oil company executives and investors 'have listened and watched all of this and concluded that some significant portion of both the elected government and the administrative state are going to be actively hostile to their products into the foreseeable future.' 'It should surprise no one, therefore, that these executives and investors are unwilling to make decisions on projects that may take decades to break even.'
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