The high cost of Biden's anti-energy policies

 Bloomberg:

Oil headed for $150 without US support for more drilling, Shale CEO Says

...

Crude output in the Permian Basin will one day peak as it already has in rival shale fields such as the Bakken region of North Dakota and the Eagle Ford in Texas, Continental Chief Executive Officer Doug Lawler said during an interview with Bloomberg TV. Without new exploration, “you’re going to see $120 to $150” oil, he said.

“That’s going to send a shock through the system,” he said on the sidelines of Hamm’s first ever American Energy Security Summit in Oklahoma City. Without policies encouraging new drilling, “you’re going to see more pressure on price.”

Sprinkled among pro-oil presentations from Republican presidential candidate Nikki Haley and Goldman Sachs Group Inc.’s David Solomon, shale executives issued calls for the Biden administration to adopt consistent policies that will allow them to drill more. Failure to do so, they warned, will lead to tighter energy supplies and higher prices.

But the CEOs were quick to note that they have no intention of markedly boosting crude output in response to oil’s march toward the $100 mark for the first time in more than a year.

After touching an all-time high in July, oil production in US shale fields is contracting and government analysts are forecasting a third straight monthly decline in October.

“I hear people say, ‘We’re back up to record levels of production,’” Chevron Corp. Chief Executive Officer Mike Wirth told summit attendees. “With better policy we would be beyond that.”
...

I get the impression that Biden is trying to make alternative energy more competitive by restricting drilling and driving up the coast of oil and gas.  His policy is a disaster for consumers and for the economy.  The fact is that alternative energy is unlikely to ever be enough to feed the US economy and that economy will suffer with Biden's energy policy.  

See, also:

 

And:

 (Sen.) Lummis accuses Biden of favoring blue New Mexico over red states in energy policies

And:

 Top Republicans launch probe into Leonardo DiCaprio-funded blue state lawsuits against Big Oil

And:

 Biden’s electric car swindle

Energy Department official admits EV transition is unsustainable

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more