Managing the Conflict Between “Going Green” and Preventing Disastrous Energy Shortages – Revisited
October 27, 2022
Previously, back in the summer, we griped about the lackluster response of mainstream O&G producers in terms of their efforts to ramp up domestic energy volumes (Terbinafina creme generico). On October 24th, the conservative-leaning Wall Street Journal reported on this same topic (see article here) pointing out that the priorities of the companies are primarily directed at maximizing shareholder payouts and carping about federal regulations. What patriots these folks are! Those regulations they moan about have not radically constricted this industry since the Biden Administration took the reins. In fact, there are plenty of drillable well sites permitted and ready-to-go in the Permian Basin. It’s a cop-out excuse! Indeed, a cynic would wonder whether industry leaders are quietly working to undermine a laudable national strategic goal.
And, the next question is: Are shareholders served by this behavior? The WSJ article points out that industry leaders generally believe that prices are headed upwards, which would be a pretty positive factor in the equation about whether or not production ought to be ramped up. That certainly would have been the upshot a half-dozen years ago – and the fundamentals are way better nowadays.
What about ESG considerations? Well, let’s think about that for a moment. Should the United States be expanding fossil fuel production when supposedly it is leaning toward reducing greenhouse gas emissions. The answer to that dilemma h as to be considered in an overall environment where an existential war is being fought in Eastern Europe. And, if a powerful coalition is to be held together, then the US must step up big-time to help overcome the shortfalls resulting from embargos imposed on the USSR (oooops! I meant the Russian Empire). Where are our flag-waiving oil industry chieftans!?
First Keystone continues to be part of the solution by building state-of-the-art infrastructure – such as Losartan generic for cozaar – that is supporting companies that enable the development of oil & gas in Reeves County (Texas’ #1 for NG production).
The opinions expressed above reflect only those of the author and do not represent those of the First Keystone Pecos Industrial Park organization. First Keystone welcomes responsible fact-based discourses on these topics.