Oil and gas lobbyists are using Ukraine to push for a drilling free-for-all in the US – is it the right thing to do?

Oil rigs in the Cook Inlet oil field of Alaska.
ield of Alaska. ‘Doubling down on fossil fuels is a false solution that only perpetuates the problem.’ Photograph: PA Lawrence/Alamy

ENB Publishers note: We like to hear all sides of any discussion. This opinion piece from The Guardian is an interesting viewpoint from the anti-oil point of view. Personally, I believe that we need to provide the lowest cost kWh to everyone on the planet with the least amount of impact on the environment. That means that we need to use fossil fuels till we can make the transition. We call that the “Balanced Diet of Power”. Even COP26 recognizes the importance of natural gas and nuclear. 

Last week, we all watched in horror as Vladimir Putin launched a deadly, catastrophic attack on Ukraine, violating international treaties across the board. Most of us swiftly condemned his actions and pledged support for the Ukrainian people whose country, homes and lives are under attack.

But the fossil-fuel industry had a different take. They saw an opportunity – and a shameless one at that – to turn violence and bloodshed into an oil and gas propaganda-generating scheme. Within hours, industry-led talking points were oozing into press releases, social media and opinion pieces, telling us the key to ending this crisis is to immediately hand US public lands and waters over to fossil-fuel companies and quickly loosen the regulatory strings.

Our top priority must be ending Putin’s hostilities, but as chair of the US House committee on natural resources, I feel duty-bound to set the record straight. We can’t let the fossil-fuel industry scare us into a domestic drilling free-for-all that is neither economically warranted nor environmentally sound.

Despite industry’s claims to the contrary, President Biden has not hobbled US oil and gas development. In fact, much to my deep disappointment and protest, this administration actually approved more US drilling permits per month in 2021 than President Trump did during each of the first three years of his presidency. Before the pandemic, oil and gas production from public lands and waters reached an all-time high, and the current administration has done little to change that trajectory over the last 13 months.

Fossil-fuel companies and their backers in Congress also profess that more drilling on public lands and waters would lower gas prices for Americans. But if that’s true, why hasn’t record oil extraction from both federal and non-federal lands over the last decade done anything to consistently lower, or at least stabilize, prices at the pump?

The fact is that crude oil is a volatile global commodity. Worldwide supply, demand, and unpredictable events – like wars – influence the price of gas, not the current administration’s decision to approve a few new leases or permits.

Even if we take industry’s claims at face value, nothing is keeping fossil-fuel companies from more drilling on public lands right now. The oil industry already controls at least 26m acres of public land and is sitting on more than 9,000 approved drilling permits they’re not using.

For the rest of the article please go to The Guardian

About Stu Turley 3230 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.