Biden's Policies Are Hindering US Oil and Gas Companies From Producing Energy, Placing Increased Costs on Consumers: DEPA President

The Biden administration's policies are hindering U.S. oil and gas companies from producing energy commodities, driving up the price which in turn results in consumers paying more, according to Jerry Simmons, the president of the Domestic Energy Producer Alliance.

DEPA is a nationwide collaboration of 39 coalition associations representing individuals and companies who engage in domestic onshore oil and natural gas exploration and production.

Speaking on NTD's "Talking Points" hosted by David Zhang, Simmons said that the United States had become energy self-sufficient for the first time in decades last year, driven in part by technology breakthroughs and the development of shale gas plays from North Dakota to West Texas, Pennsylvania, and Ohio, where horizontal drilling technology allowed companies to produce oil and natural gas.

Numerous policies put in place by the Biden administration in an effort to achieve its ambitious climate agenda and reach net-zero emissions by 2050 have crippled oil and gas companies and left consumers paying more.

"They encouraged banking to not lend to oil and gas and fossil fuels, so coal companies as well. So our access to capital dried up this year, and it became very difficult it's a host of things that have happened that have caused these prices to go up."

Simmons said the current policies of cutting off funding that would allow companies to produce oil and gas in the United States is a "Big problem."

The DEPA president also noted that Biden re-entering the Paris Climate agreement has placed restrictions on the United States and what oil and gas companies can do.
 

https://www.theepochtimes.com/bidens-policies-are-hindering-us-oil-and-gas-companies-from-producing-energy-placing-increased-costs-on-consumers-depa-president_4071163.html