Links tagged “keystone”

Michael McKenna: "Biden’s cancellation of the Keystone XL pipeline and his de facto suspension of new oil and gas leases. Those are great as far they go, but they don’t really have anything to do with current high oil prices...the endless repetition of the propaganda about the utility of alternative energy sources, the possibility of net-zero greenhouse gas emissions and the inevitability of an “energy transition.” These foundational myths have led directly to our current problems. ... businesses have underinvested in oil and natural gas over several years. In 2014, the world spent about $490 billion finding and producing oil and natural gas. In 2021, that amount was just $220 billion. ... 

Despite high prices, growing demand (as countries and people become richer, their demand for reliable energy increases) and shrinking supplies, these companies are disinclined to rush to produce more oil. They listen to their government and conclude that such investments and actions — which require years to pay off — are simply too risky in the current political and social environment. ... Those who want to do something meaningful about energy prices should start to contest the fundamental thesis that the world will transition away from coal, oil and natural gas anytime soon. They should prevent government actions that create an environment where people and companies hesitate to invest in finding and producing affordable and reliable energy.

Fox & Friends - Fox News Channel - March 2, 2022 

Biden's first State of the Union: Hits and misses - Marc Morano, Dr. Rebecca Grant and Dr. Janette Nesheiwat join 'Fox & Friends First' to discuss President Biden's first State of the Union address.

Morano: "Joe Biden missed an opportunity to actually address America's problem of his administration crushing American energy. He only mentioned the 'climate crisis' once. And I'm sure that's going to upset climate activists. But what he failed to do was send a signal that America is open for business when it comes to energy. He wants American-made everything -- except energy. And it just makes no sense. Russian oil imports are at an 11 year high. We're importing 600,000 barrels a day from Russia. And Russia's federal budget is 40% based upon oil and gas revenue."

Politico: The group that revived a slumbering environmental movement by focusing on big targets was flying high. It was no longer just a plucky collection of friends from a Vermont college and their luminary founder, Bill McKibben. It was a global force. The $800,000 retreat at a five-star luxury resort in Killarney, Ireland in March 2019 proved it. The rise for 350.org had been meteoric. The crash would be, too. ... 

The fallout would lead to mass layoffs, departures, exhaustion, distrust and a protracted labor battle that exists to this day, according to internal documents, third-party audits and communications obtained by POLITICO — which made an attempt to contact all parties referenced in this story — in addition to interviews with 18 current and former staff members, most of whom were granted anonymity to speak candidly. The organization saw its U.S. program office fall from nearly 50 people in 2019 to nine entering this year. ... 

The cutbacks put new stresses on the remaining workers, leading to more departures, including among some people of color who had joined the staff only recently.

U.S. oil imports from Saudi Arabia and Russia have increased, and gasoline prices are higher than they have been in the last five years.

Deroy Murdock: In fewer than 11 months, this administration has:

• Killed the Keystone XL pipeline.
• Threatened to plug the Canada-to-Michigan Enbridge Line 5 pipeline.
• Halted oil leases in a sliver of Alaska’s Arctic National Wildlife Refuge.
• Stopped oil and gas leases on federal lands.
• Proposed a methane tax that could cost this industry up to $10 billion annually.
• Encouraged left-wing activists to pressure financiers to defund oil companies.

And how is this multi-front war on oil working out? As predicted. ... To escape the political hell of what it considers high-gas-price heaven, Biden begs OPEC and the Kremlin to increase oil output. This is like the Anti-Saloon League beseeching Scotland to boost whiskey production after Prohibition shuttered U.S. distilleries. ... Biden’s own environmental objectives. At the margin, Biden’s approach would generate more carbon dioxide. North American crude cleanly crosses U.S. territory (and, to a degree, the Canadian border) via carbon-neutral pipelines. Conversely, Arab and Russian oil must traverse oceans and approach U.S. ports on fuel-burning, emissions-generating supertankers.

Energy analyst Tilak Doshi: On attaining office, President Biden immediately unleashed a series of executive orders to reverse his predecessor’s strategy of “energy independence”. At a stroke of his pen, he revoked permits for the Keystone XL pipeline, suspended oil leasing in Alaska, halted oil and gas leases on federal land, and even invoked the Endangered Species Act to block energy resource development on private lands in the West. ... 

The Biden administration implored foreign producers to ramp up oil exports while doing its best to stymie America’s own oil and gas industry. Scott Angelle, a former Republican lieutenant governor of Louisiana and secretary of natural resources, said bluntly: “The White House doubles down on favoring OPEC production while giving the middle finger to American energy jobs, American energy consumers [and] climate-advantaged American production.” ... 

After essentially calling for the most fundamental transformation of the global energy system since the advent of the Industrial Revolution over two centuries ago — to be completed within the next three decades — the IEA opined just weeks later that "OPEC+ needs to open the taps to keep the world oil markets adequately supplied". And, on cue, as Europe’s gas and power prices surged to record levels, the IEA called on Russia to be a “reliable supplier” and send more gas to Europe. ... 

Biden Puts OPEC & Russia First, US Oil Industry Last -

WSJ: "The Biden Administration is now imploring the OPEC oil cartel to pump more oil so U.S. gasoline prices don’t rise more than they already have on Mr. Biden’s watch. Oil prices climbed to a six-year high on Tuesday after the Organization of the Petroleum Exporting Countries and Russia failed to agree on increasing production quotas." - "U.S. petroleum consumption is now roughly where it was at this time in 2019."

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As Biden seeks to limit U.S. oil production, reliance on Russian imports rises: By Bethany Blankley | The Center Square Jun 18, 2021 - "Within months of President Joe Biden halting the Keystone Pipeline, pausing new oil and gas leases on federal lands, and imposing further restrictions on U.S. oil companies, U.S. oil imports from Russia set a new record in March. According to International Energy Agency, U.S. imports of crude oil and petroleum products from Russia reached 22.9 million barrels in March, the highest level since August 2010. They had reached over 25 million barrels in April 2009. Crude oil imports from Russia in March stood at 6.1 million barrels, making Russia the third-largest oil exporter to the United States.

Fox Business: "All policies implemented by the Biden administration have created jobs, prosperity and influence for Russia’s energy sector. This has come at the expense of U.S. producers and consumers who are now paying on average over $3 per gallon at the pump, per AAA."