 |
| Biden's Performance Lacking |
Crude oil and natural gas production were growing before the pandemic. After the pandemic with Biden, oil and gas production are far lower than the trend before the pandemic. A part of this poor performance might be due to the temporary low prices caused be the lower usage during the pandemic affecting new exploration, drilling and productions. However, it is impossible not to recognize that the hostile polices of the Biden administration (see below) are a major factor in the failure to increase production back the previous trend.
September 2020 Biden: “ I guarantee you, I guarantee you, we are gonna end fossil fuel, and I am not going to cooperate with them. Before 2050, God willing.”
October 2020 Baiden promised to get rid of fossil fuels.
January 2021 Biden orders the Interior Department to halt new oil and natural gas leases on public lands and waters, and begin a thorough review of existing permits for fossil fuel development.
January 2021 Biden directs the federal government to remove additional 30% of federal lands and water from oil/gas exploration by 2030
January 2021 Biden revoked the Keystone XL pipeline permit
Feb 2021 Biden adopts an inflated social cost of CO2 of $51 per ton impose more onerous fuel-economy and energy efficiency standards and requiring Agencies to use it to conduct environmental impact statements under the National Environmental Policy Act for projects lime the Alaska liquefied natural gas project and mineral leases.
May 2021 The Biden Administration directs agency officials to fight climate change through financial regulation.
May 2021 Biden directs the SEC to require companies to enumerate and disclose the financial risks of climate change
June 2021 Federal judge blocked the administration’s temporary ban on new leases to drill for oil and gas on public lands and ordered that lease sales continue.
November 2021 Biden administration did hold the largest-ever offshore leasing auction known as Lease Sale 257, a Gulf of Mexico offering primed by the Trump administration.
January 2022 The Biden administration will scrap the authorization to expanded leasing and development in the National Petroleum Reserve in Alaska, or NPR-A.
February 2022 Lease Sale 257 vacated by a federal judge after being challenged by environmental groups. The administration opted not to appeal in a Feb. 28 filing.
Feb 2022 Federal Judge James Cain issues injunction against Biden using his social cost of CO2
February 2022 Biden's Fed nominee Sarah Bloom Raskin claims the Fed will have to "manage" the financial risks of climate change and climate policy saying: "Our financial regulatory bodies must do all they can—which turns out to be a lot—to bring about the adoption of practices and policies that will allocate capital and align portfolios toward sustainable investments that do not depend on carbon and fossil fuels. Translation - the Fed will make it more difficult for financial institutions to lend to oil and gas production
March 2022 Biden uses the injunction to halt permitting work on at least 18 wells on federal oil and gas leases in New Mexico and new lease sales. The White House is blaming the judge for what it was already doing or, rather, not doing.
March 2022 In a 3-2 vote divided along party lines, Biden’s appointees to the Federal Energy Commission (FERC) commission dramatically changed the policy for reviewing and approving applications for new natural-gas pipeline projects requiring the projects to greatly increase the way negative effects on the environment are measured thus making these permits much more difficult to obtain.
March 2022 Industry is using a higher percentage of federal onshore and offshore leases than at any time in the past, and it’s continuing to increase production to meet surging demand. Biden purposefully misusing the facts. Just because you have a lease doesn’t mean there’s actually oil and gas in that lease, and there has to be a lot of development that occurs between the leasing and then ultimately permitting for that acreage to be productive.
March 2022 Biden administration appeals and overturns lower court ruling preventing the use of higher CO2 costs of the Biden Administration. So now it will be harder to get permits and leases. Will have to wait to see what the supreme court does.
No comments:
Post a Comment