Fact Check: What is the Real Policy of the Biden Administration Towards Fossil Fuels?
May 5, 2023
Article by Jeffrey Price
So many disparaging remarks are tossed around in casual conversations throughout the Permian Basin about the “terrible” policies of “what the Biden Administration does to” the oil & gas industry. Yet, with all the angst and complaining, it is difficult to really put one’s finger on a set of tangible policies and regulations that have hurt the industry. Indeed, an argument can be made that the Administration is methodically backing America’s fossil fuel industry as part of a grander geopolitical strategy in not only fighting a war in Eastern Europe, but in workibg to contain advances of autocratic regimes. For example, take a look at this article https://www.nytimes.com/2023/04/06/climate/oil-gas-drilling-investment-worldwide-willow.html?searchResultPosition=9 published by the New York Times on April 6, 2023 which lays out concrete steps taken by the Biden Administration that are part of hydrocarbon-friendly policies. This article is in contrast to those widespread disparagements freely aimed at “the feds”. Sure, the government is cracking down on methane emissions, but that’s the equivalent of regulating discharges of untreated sewage. One would hope they’re regulated! Isn’t it incongruous that Biden is jawboning the industry to pump more oil? And, it’s funny – but it’s not – that the left-wing of the Democratic Party criticizes him, too! Isn’t it funny – but it’s not – that many of the U.S.-flag leading producers are hanging back and curtailing year-over-year growth? What is it about this picture that’s backwards?
This is why the Permian – an outpost in the U.S. with less than one million residents – is arguably one of the Top 5 strategic sites in U.S. territory! On the opposite end of the size continuum, First Keystone is a tiny contributor that helps to lay the groundwork to strengthen American’s oil & gas industry – we do it by offering to industrial buildings for lease in Pecos, TX. We’re in a geopolitically crucial region!
The Biden Administration also has plenty of overt inducements designed to speed up America’s transition to “green energy”, but those moves do not cancel out these near-term policies that are meant to spur the U.S. forward to The World’s #1 position as an oil producer. They demonstrate a real politik approach to oil taken by the center-leaning Biden Administration.
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.