President Joe Biden and his administration have taken over 200 actions against the U.S. oil and natural gas industry as energy prices have gone up, according to a new report.
The first act was canceling the Keystone XL pipeline, issuing a moratorium on all oil and natural gas leasing activities in the Arctic National Wildlife Refuge and revoking Trump administration executive orders that decreased regulations in order to expand domestic production.
In response, U.S. Sen. John Barrasso, R-Wyo., led a coalition of 24 senators expressing "Grave concern" about his "Continued hostility towards American energy production." IER published the report after the latest action taken to increase the cost of U.S. oil production and cancel plans to restock the Strategic Petroleum Reserve.
"Without oil exports, Iran would have registered a $16.8 billion trade deficit." U.S. House Republicans last month passed several bills and resolutions to strengthen the U.S. oil and natural gas industry, The Center Square reported.
Texas leads the U.S. in oil and natural gas production, having broken records in the last few years, The Center Square has reported.
Because the majority of oil and natural gas is produced on private land and a bipartisan group of Texas elected officials and regulatory agencies are supportive of the industry, Texas has been able to achieve what most states have not.
"With so much uncertainty in the world, the need for reliable, responsibly produced energy from a stable trading partner has never been more crucial," Texas Oil & Gas Association President Todd Staples said.
https://www.thecentersquare.com/national/article_35834f00-fb84-11ee-81ee-efb3fd2ca0b9.html
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