Back in January 2021, I attended a call put on by a major O&G trade association. There, we were warned by the organizations guy in Washington that, "the Biden Admin will be coming after oil and gas with every federal agency under the Executive Branch". All were charged with considering "Climate Justice" in every action and decision they took (along with "Equity" of course).
Looking at the "100 Ways" article below, it would appear he could not have been more right.
https://www.americanenergyalliance.org/2022/05/100-ways-biden-and-the-democrats-have-made-it-harder-to-produce-oil-gas/
EPA, DOJ, DOI, SEC, DOE, FERC, Fish & Wildlife, DOT, USDA, BLM (the other one), DOL, HUD, FTC...all are mentioned as taking directed actions to hurt US oil and gas. Sure, some of the things the author puts int he above article are superfluous. But others that seem innocuous, like FERC's rule revisions, are very serious.
Then recently, I remembered a controversial remark made to the Wall Street Journal by Obama's Energy Secretary over a decade ago. He was discussing the positive aspects of rising gas prices over the next 15 years, and the fact that government policy should push to make this a reality.
"Somehow, we have to figure out how to boost the price of gasoline to the levels in Europe." - Steven Chu, US Secretary of Energy, 2008.
Ostensibly, these higher prices would push the economics in favor of wind and solar (and now EVs), bringing the "Green Revolution" closer to hand.
At the time, they talked about doing it with a tax, but they knew that would be unpopular, and they couldn't do it rapidly due to the "shock factor". Instead, they would try to boil-the-frog and increase the price over 15 years.
With the pain and disruption of COVID, did they just throw caution to the wind and take the shock increase now while they "have the cover"?
It sure seems so, because despite what they say to the press, the Biden admin is doing everything in its power to drive UP the cost of gasoline. They are doing nothing to drive it DOWN.
Are they finally fulfilling the objectives of the Obama Democrats from 15 years ago?
Looking at the "100 Ways" article below, it would appear he could not have been more right.
https://www.americanenergyalliance.org/2022/05/100-ways-biden-and-the-democrats-have-made-it-harder-to-produce-oil-gas/
EPA, DOJ, DOI, SEC, DOE, FERC, Fish & Wildlife, DOT, USDA, BLM (the other one), DOL, HUD, FTC...all are mentioned as taking directed actions to hurt US oil and gas. Sure, some of the things the author puts int he above article are superfluous. But others that seem innocuous, like FERC's rule revisions, are very serious.
Then recently, I remembered a controversial remark made to the Wall Street Journal by Obama's Energy Secretary over a decade ago. He was discussing the positive aspects of rising gas prices over the next 15 years, and the fact that government policy should push to make this a reality.
"Somehow, we have to figure out how to boost the price of gasoline to the levels in Europe." - Steven Chu, US Secretary of Energy, 2008.
Ostensibly, these higher prices would push the economics in favor of wind and solar (and now EVs), bringing the "Green Revolution" closer to hand.
At the time, they talked about doing it with a tax, but they knew that would be unpopular, and they couldn't do it rapidly due to the "shock factor". Instead, they would try to boil-the-frog and increase the price over 15 years.
With the pain and disruption of COVID, did they just throw caution to the wind and take the shock increase now while they "have the cover"?
It sure seems so, because despite what they say to the press, the Biden admin is doing everything in its power to drive UP the cost of gasoline. They are doing nothing to drive it DOWN.
Are they finally fulfilling the objectives of the Obama Democrats from 15 years ago?
