Lawrence Person's BattleSwarm Blog 1/25/2021
The Biden Administration is wasting no time in declaring war on America’s oil and gas industry:
• Biden revoked permits for the Keystone XL pipeline, killing thousands of jobs.
• He rejoined the job-killing Paris Climate Accord. The Paris Climate Accord has never been submitted to the senate for ratification, so how could it be constitutionally binding?
• Despite protestations to the contrary, he wants to end fracking.
• Biden has suspended oil and gas permitting on federal land for 60 days. Presumably some will be allowed to proceed once it’s made clear which Democrats will need to be bribed for the privilege…
• New Mexico official says they’re shocked by Biden’s actions on federal land permits.
Some New Mexico officials are now trying to defend themselves by saying they didn’t anticipate the new President would issue such a ban, but such protests ring rather hollow given that they most assuredly did understand that Biden plans to move ahead with his fracking ban, which would for all intents and purposes have the same effect. After all, virtually 100% of the drilling activity in southeast New Mexico targets the various shale formations in the Delaware Basin, and all shale wells require a frac job in order to be productive. Thus, a ban on fracking is the same thing as a ban on leasing and drilling.
• Total job losses for all of Biden’s anti-energy policies could add up to 1 million jobs. (Hat tip: Director Blue.)
• And many of those job losses will be in Texas:
in Texas, where small, independent operators play a significant role in oil production, Biden’s policies could pack more of a punch.
Among Biden’s policy proposals:
• Required disclosure of climate risks from public companies.
• A commitment to end new drilling permits for federal lands.
• A pledge to eliminate tax subsidies for the oil and gas industry.
More:
https://www.battleswarmblog.com/?p=47070
