By VICTOR SKINNER | THE CENTER SQUARE
Business leaders across the country have joined together to call on the Biden administration to boost domestic energy production and to abandon a proposal to ban new offshore lease sales.
More than 200 local chambers of commerce in 47 states and 14 national associations penned a letter to President Joe Biden this week to urge him “to strengthen our energy security by removing impediments to greater domestic energy production.”
Included on that list is the Alaska Chamber of Commerce, the Anchorage Chamber of Commerce and the Greater Haines Chamber of Commerce.
The letter calls for:
- Ending the ban on new oil and natural gas exploration on federal lands and waters. Federal lands and waters were responsible for 22 percent of all U.S. oil production and 12 percent of natural gas. Taking these resources off the table has a significant impact on U.S. and global energy supply, today and decades into the future.
- Restoring cancelled lease sales. Cancelling oil and gas lease sales sends the wrong message to producers and investors.
- Adopting a 5-Year Plan for Oil and Gas Development that Allows the U.S. to Maximize Offshore Potential: For the first time in history, the 5-Year Plan was allowed to expire. On July 1, the Department of Interior proposed a new plan that included an option to completely shut down offshore exploration by allowing no new leases, creating even more uncertainty. It is not reasonable to ask that companies make major, long-term investments without knowing whether exploration will even be permitted. We urge the adoption of a new 5-year plan by the end of the year that includes the maximum possible number of lease sales.
“High energy prices remain a major concern for businesses throughout the United States and are a leading cause of inflation,” the letter read. “Businesses of all sizes are facing burdens from increased costs for goods, services, and transportation, which combined with tight labor markets, presents major headwinds for the U.S. economy.”
The letter argued that addressing climate change and energy security “are not mutually exclusive” and increasing domestic oil and natural gas production can “accelerate the energy transition” while simultaneously curbing cash to Russia and improving the lives of Americans.
“Also, Russian oil is among the dirtiest in the world, so displacing it with cleaner, less carbon intensive U.S. production would bring obvious environmental benefits,” the letter read.
Business leaders pointed to the Biden administration’s “mixed signals” on domestic energy production and outlined three major issues that should be addressed: Ending the ban on new oil and natural gas exploration on federal lands and waters, restoring canceled oil and gas lease sales and adopting a five-year plan for oil and gas development that allows the U.S. to maximize offshore potential.
“Federal lands and waters were responsible for 22 percent of all U.S. oil production and 12 percent of natural gas. Taking these resources off the table has a significant impact on U.S. and global energy supply, today and decades into the future,” the letter read.
“On July 1, the Department of Interior proposed a new plan that included an option to completely shut down offshore exploration by allowing no new leases, creating even more uncertainty,” it continued. “It is not reasonable to ask that companies make major, long-term investments without knowing whether exploration will even be permitted.
“We urge the adoption of a new 5-year plan by the end of the year that includes the maximum possible number of lease sales,” business leaders wrote.
The letter came around the same time OPEC – the Organization of the Petroleum Exporting Countries – announced plans to cut back on oil production, a move that’s expected to contribute to a spike in energy prices in the U.S.
In other news.
“Major Business Groups talk to brick wall. Get better response than they did from WH.”
LOL, I was about to post the exact same comment!
.
These appeals will go absolutely nowhere, and have no effect, as these major business leaders are essentially trying to sway a radical leftist extremist cabal from their zealous “true faith”, and become the heretics that they are determined to destroy, along with the our country, our society, and our civilization.
.
I am not a religious person, but the more I witness the madness and pure, unadulterated evil of the radical leftist extremists, the more I come to believe in the literal demonic.
When mushroom clouds are everywhere, he will drill oil again. Have to.
That’s a mighty optimistic outlook there Greg.
There is nothing about this current administration that would allow domestic energy production again, regardless of the circumstances. That so-called press secretary would talk about how a nuclear winter is a good way to get the nation off of fossil fuels, or some other meaningless bs.
Major business groups should also lobby their Alaska senators who voted to confirm the US Secretary of the Interior whom made it very clear this was the direction our current administration was headed.
Save your breath
“”I have returned from Russia with peace for our time”. Joe Biden
There were no bids on the last Cook Inlet Federal leases, oil companies are making huge profits. Supply and demand dictate oil prices, there are unused rigs and leases all over the US. Markets do not move as fast as anonymous trolling. If you want to tame inflation, raise taxes on the wealthy and Corporations, and then cut middle income taxes
Frank, your dishonest and disingenuous refusal to acknowledge the unequivocal war that the Usurper Biden cabal has been waging against the energy industry since day one of their illegal occupation of Washington D.C. is just part and parcel of the malicious and dissembling agenda of the radical left.
While I strongly oppose all of Brandon’s energy policies, I have a few lingering questions…
Within weeks of taking office, the US moved from being an oil exporter to a net oil importer. There’s no way it was due to any freeze in pipeline developments, permitting delays, or lease sale cancellations. Most of these were long-term policy changes that affect exploration and production years in the future.
Even if all these impediments were removed overnight, it would theoretically take many years before it would lead to any increase in oil production. I am not buying the oil industry’s claims that it’s all due to Brandon.
Where did all that oil production suddenly go? It looks to me that the oil industry just turned off the taps, knowing that the inevitable price increases would boost their bottom line profits along with the value of their reserves.
Meanwhile, I’m off to fill my car with $5.50 gasoline. By the way, the last time oil reached $80-$100/bbl was between 2008 and 2014, while gasoline prices peaked at $3.64 in 2012. Why is gasoline nearly $2.00 per gallon higher now than 2012?
Comments are closed.