Oil companies and oilfield organizations reacted strongly last week when a federal judge ruled against the lease of 80.8 million acres for oil and gas development in the Gulf of Mexico.
The judge's reasoning for rejecting the sale was that the Biden administration did not sufficiently account for the impact of greenhouse gas emissions associated with the development and product-namely, economically essential oil and gas.
Cynical minds may suggest that part of oil companies begging government to regulate them harder is at least in part an attempt to turn up the heat on the mom-and-pop operations that already struggle under regulatory overburden.
Years of toeing the line on the dangers of carbon dioxide gets the oil industry major players to this point: during the past few years, fossil fuel companies have faced a series of lawsuits.
President Biden made it as abundantly clear during his campaign that he intended to get rid of fracking and offshore oil and gas development.
Don't kid yourselves, oil companies, the total annihilation of the industry-impact on our standard of living be damned-is the goal.
While the federal government needs the money it gets from oil and gas development on public lands, we are rapidly approaching a point wherein the activists run the government.
https://humanevents.com/2022/02/03/oil-companies-playing-the-green-game-is-coming-back-to-bite-them/
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