Energy Prospectus

You can’t make this up.
Friday: Biden Admin announces higher royalties and rental rates on federal land to discourage oil and gas production...
Saturday: Biden Admin announces that we need more oil and gas supplies....

Jennifer is clueless: a CNBC story quoting Granholm demanding that U.S. oil and gas companies produce more oil and gas a day after the Interior Department led by anti-oil and gas activist Deb Haaland announced a program to raise royalty rates and rental rates and make it hard to … wait for it … produce more oil and gas.

Geniuses.

Read more: https://blackmon.substack.com/p/sundays-energy-absurdity-make-up?utm_medium=ios

The "Blame Game" will go into high gear when WTI goes over $100/bbl. "It is obviously Trump's fault."

DOI’s “Balanced Approach” for Oil and Gas Development Is Out-Of-Touch With Reality

Taryn Brown // Researcher, Washington DC

July 21, 2023

To provide a “balanced approach to development,” the Department of Interior released a laundry list of regulations for oil and gas leasing on public lands. However, the proposal is the latest attempt by the Biden administration to sideline critical energy development. In the past year, the administration has repeatedly pushed mixed messages on domestic production referencing false claims of unused permits and slow-moving operators. The truth is, the industry continues to responsibly produce energy resources that hard-working American families depend on. By increasing the cost to operate, the administration is placing unnecessary roadblocks for maintaining reliable, low-emitting, and affordable energy. As Independent Petroleum Association of America Executive Vice President Dan Naatz explained: “The increases in the proposal are substantial, and will make it harder for smaller oil and gas producers to lease and drill on public land. It takes a lot of land and millions of dollars of investment to put together a drilling program, and companies need to be able to cobble that land together over time."

"The frequent conflicts between the actions of this presidential administration and the rhetoric coming from its’ senior officials does not merely cause confusion. The constantly shifting landscape harms the ability of companies to plan their businesses and is resulting in a loss of confidence in the U.S. legal system.

This reality was reflected by an answer one company CEO gave when I asked if the actions of the Biden administration were leading to a loss of predictability in U.S. laws and regulatory structure: “I wish I could say it is just ‘leading to’ that: The fact is, it’s already gone.”

Last week’s events again show why that is the case."

By: David Blackmon at Forbes