Biden Team needs a reality check - Feb 2
Posted: Tue Feb 02, 2021 11:15 am
The Hill: The Biden administration needs an energy reality check
Opinion. During the first week of his presidency, Joe Biden signed two significant executive orders to help burnish his environment bona fides. On day one, he revoked the permit for the Keystone XL pipeline and, a week later, he declared a one-year moratorium on new leases for oil and gas drilling and fracking on federal lands and waters. Building the Keystone pipeline would have supported more than 1,000 high-wage American jobs and generated about $8 billion of much-needed economic activity during this pandemic-induced recession. Instead, the canceled pipeline will generate 48,000 tons of scrap metal that may fetch $51 million.
OilPrice.com: U.S. Shale: Biden's drilling ban actually undermines emission targets
The U.S. oil industry has a message to President Joe Biden's recent climate executive orders involving the oil and gas sector—restricting America's oil production would increase its reliance on foreign imports of oil with more emissions than the crude pumped from America's oilfields. Over the past two weeks, President Biden rescinded the Presidential Permit for the Canada-U.S. cross-border oil pipeline Keystone XL and suspended permitting for new oil and gas drilling leases on federal lands and waters.
Also from me: As U.S. oil imports increase our trade deficit will grow and our economy is at the mercy of a steady flow of oil from countries that don't like us.
Opinion. During the first week of his presidency, Joe Biden signed two significant executive orders to help burnish his environment bona fides. On day one, he revoked the permit for the Keystone XL pipeline and, a week later, he declared a one-year moratorium on new leases for oil and gas drilling and fracking on federal lands and waters. Building the Keystone pipeline would have supported more than 1,000 high-wage American jobs and generated about $8 billion of much-needed economic activity during this pandemic-induced recession. Instead, the canceled pipeline will generate 48,000 tons of scrap metal that may fetch $51 million.
OilPrice.com: U.S. Shale: Biden's drilling ban actually undermines emission targets
The U.S. oil industry has a message to President Joe Biden's recent climate executive orders involving the oil and gas sector—restricting America's oil production would increase its reliance on foreign imports of oil with more emissions than the crude pumped from America's oilfields. Over the past two weeks, President Biden rescinded the Presidential Permit for the Canada-U.S. cross-border oil pipeline Keystone XL and suspended permitting for new oil and gas drilling leases on federal lands and waters.
Also from me: As U.S. oil imports increase our trade deficit will grow and our economy is at the mercy of a steady flow of oil from countries that don't like us.