The Briefing Room
State Chapters => State Politics/Government => Topic started by: mystery-ak on March 11, 2022, 11:39:03 pm
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Montana Takes Matters Into Own Hands, Restarts Dormant Oil Wells Amid Biden's Gas Price Explosion
Michael Austin, The Western Journal By Michael Austin, The Western Journal
Published March 10, 2022 at 2:57pm
In response to rapidly rising gas prices, the Montana Petroleum Association has announced that wells in the Bakken oil fields are officially going back online.
Inflation, regulations and a lack of additional oil resources — such as those that would have been supplied by the Keystone XL Pipeline, which was canceled by President Joe Biden on his first day in office — have led to rising gas prices in the states, experts say.
Even before Russia’s invasion of Ukraine last month, energy prices were rising. In response to Vladimir Putin’s offensive, much of the Western world has imposed sanctions on Russia, disrupting its exports of oil and further exacerbating the pain at the pump.
Alan Olson, executive director of the Montana Petroleum Association, told The Western Journal that up until this point, federal regulations have prevented many oil companies from producing oil.
Thanks to rising prices, oil producers can now cover that cost, making drilling worth it again.
more
https://thefederalistpapers.org/us/montana-takes-matters-hands-restarts-dormant-oil-wells-amid-bidens-gas-price-explosion?fbclid=IwAR1064_EGHiZxO-V3jGcilTu8HerM9_n9bHjODpFrCddDHeBXZMJJf5_cZ4