Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Oil and gas lobbyists are using Ukraine to push for a catastrophic drilling free-for-all

Oil and gas lobbyists are using Ukraine to push for a catastrophic drilling free-for-all

Fossil-fuel firms want to turn violence and bloodshed into an oil and gas propaganda-generating scheme. Their goal: a drilling bonanza
Last week, we all watched in horror as Vladimir Putin launched a deadly, catastrophic attack on Ukraine, violating international treaties across the board. Most of us swiftly condemned his actions and pledged support for the Ukrainian people whose country, homes and lives are under attack.

But the fossil-fuel industry had a different take. They saw an opportunity – and a shameless one at that – to turn violence and bloodshed into an oil and gas propaganda-generating scheme. Within hours, industry-led talking points were oozing into press releases, social media and opinion pieces, telling us the key to ending this crisis is to immediately hand US public lands and waters over to fossil-fuel companies and quickly loosen the regulatory strings.

Our top priority must be ending Putin’s hostilities, but as chair of the US House committee on natural resources, I feel duty-bound to set the record straight. We can’t let the fossil-fuel industry scare us into a domestic drilling free-for-all that is neither economically warranted nor environmentally sound.

Despite industry’s claims to the contrary, President Biden has not hobbled US oil and gas development. In fact, much to my deep disappointment and protest, this administration actually approved more US drilling permits per month in 2021 than President Trump did during each of the first three years of his presidency. Before the pandemic, oil and gas production from public lands and waters reached an all-time high, and the current administration has done little to change that trajectory over the last 13 months.

Fossil-fuel companies and their backers in Congress also profess that more drilling on public lands and waters would lower gas prices for Americans. But if that’s true, why hasn’t record oil extraction from both federal and non-federal lands over the last decade done anything to consistently lower, or at least stabilize, prices at the pump?

The fact is that crude oil is a volatile global commodity. Worldwide supply, demand, and unpredictable events – like wars – influence the price of gas, not the current administration’s decision to approve a few new leases or permits.

Even if we take industry’s claims at face value, nothing is keeping fossil-fuel companies from more drilling on public lands right now. The oil industry already controls at least 26m acres of public land and is sitting on more than 9,000 approved drilling permits they’re not using.

They have a similarly gratuitous surplus offshore, where nearly 75% of their active federal oil and gas leases, covering over 8m acres, have yet to produce a single drop. Any new leases issued today wouldn’t produce anything of value for years, or even decades in some cases.

If industry did start to ramp up production from federal leases, the overall increase to the total US supply would likely be marginal. In 2020, public lands and waters only accounted for 22% and 11% of oil and gas production, respectively. The vast majority of oil and gas resources are beneath state and private lands – not public lands or federal waters.

With the facts laid bare, we see the fossil-fuel industry’s crocodile tears for what they are – the same old demands for cheaper leases and looser regulations they’ve been peddling for decades. These pleas have nothing to do with countering Putin’s invasion or stabilizing gas prices, and everything to do with making oil and gas development as easy and profitable as possible.

The US is the world’s top oil and gas producer. Doubling down on fossil fuels is a false solution that only perpetuates the problems that got us here in the first place.

And quite frankly, we can’t afford to maintain the status quo. In its newest report the Intergovernmental Panel on Climate Change (IPCC) issued its most dire warning yet on the rapidly accelerating climate crisis. If we fail to enact major mitigation efforts, like curbing fossil-fuel development, both quickly and substantially, we will “miss a brief and rapidly closing window of opportunity to secure a livable and sustainable future for all”.

Fortunately, there is a path forward that simultaneously cuts the lifeline to fossil-fuel despots like Putin, stabilizes energy prices here at home, and creates a safer, more sustainable planet. We must wean ourselves off our oil and gas dependence and make transformational investments in cleaner renewable energy technologies, like those in the Bipartisan Infrastructure Law, the Build Back Better Act and the Competes Act, and we must do it now.

The fossil-fuel industry has had hold of the microphone for far too long. It’s time we let the facts speak for themselves.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
U.S. and Hungarian Officials Talk About Economic Collaboration and Sanctions Strategy
Technology Giants Activate Lobbying Campaigns Against Strict EU Regulations
Pope Francis Admitted to Hospital in Rome Amid Increasing Speculation on Succession
Zelensky Calls on World Leaders to Back Peace as Tensions Rise with Trump
UK Leader Keir Starmer Calls for US Security Guarantee in Ukraine Peace Deal
NATO Chief Urges Higher Defense Expenditure in Europe
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advancement.
Rubio Touches Down in Riyadh Before Key U.S.-Russia Discussions
Students in Serbian universities Unite to Hold Coordinated Protests for Accountability.
US State Department Removes Taiwan Independence Statement from Website
Abolishing opposition won't protect Germany from Nazism—this is precisely what led Germany to become Nazi!
Transatlantic Gold Rush: Traders Shift Bullion in Response to Tariff Anxieties and Market Instability
Bill Ackman Backs Uber as the Company Shifts Towards Profitability
AI Titans Challenge Nvidia's Supremacy in Light of New Chip Innovations
US and Russian Officials to Meet in Saudi Arabia Over Ending Ukraine Conflict. Ukraine and European leaders – who profit from this war – excluded from the negotiations.
Macron Calls for Urgent Summit as Ukraine Conflict Business Model is Threatened
Trump’s Defense Secretary: Ukraine Won’t Join NATO or Regain Lost Territories
Zelensky Urges Europe to Bolster Its Military in Light of Uncertain US Backing
Chinese Zoo Confesses to Dyeing Donkeys to Look Like Zebras
Elon Musk is Sherlock Holmes - Movie Trailer Parody featuring Donald Trump's Detective
Trump's Greenland Suggestion Sparks Sovereignty Discussions Amid Historical Grievances
OpenAI Board Dismisses Elon Musk's Offer to Acquire the Company.
USAID Uncovered: American Taxpayer Funds Leveraged to Erode Democracy in Europe Until Trump Put a Stop to It.
JD Vance and Scholz Did Not Come Together at the Munich Security Conference.
EU Official Participates in Discussions in Washington Amid Trade Strains
Qatar Contemplates Reducing French Investments Due to PSG Chief Investigation
Germany's Green Agenda Encounters Ambiguity Before Elections
Trump Did Not Notify Germany's Scholz About His Ukraine Peace Proposal.
Munich Car Attack Escalates Migration Discourse Before German Elections
NATO Allies Split on Trump's Proposal for 5% Defense Spending Increase
European Parliament Advocates for Encrypted Messaging to Ensure Secure Communications
Trump's Defense Spending Goal Creates Division Among NATO Partners
French Prime Minister Bayrou Navigates a Challenging Path Amid Budget Preservation and Immigration Discourse
Steering Through the Updated Hierarchy at the European Commission
Parliamentarian Calls for Preservation of AI Liability Directive
Mark Rutte Calls on NATO Allies to Increase Defence Expenditures
Dresden Marks the 80th Anniversary of the World War II Bombing.
Global Community Pledges to Aid Syria's Political Transition
EU Allocates €200 Billion for AI Investments, Introduces €20 Billion Fund for Gigafactories
EU Recognizes Its Inability to Close the USAID Funding Shortfall Due to Stalled US Aid
Commission President von der Leyen Missing from Notre Dame Reopening Due to Last-Minute Cancellation
EU Officializes Disinformation Code for Online Platforms, Omitting X
EU Fails to Fully Implement Key Cybersecurity Directives
EU Under Fire for Simplification Discussions Regarding Corporate Sustainability Reporting
Shein Encountering Further Information Request from the EU During Ongoing Investigation
European Commission Initiates Investigation into Shein as It Aims at Chinese E-Commerce Regulations
German Officials Respond to U.S. Proposal for Peace Talks with Russia
Senate Approves Robert F. Kennedy Jr. as Secretary of Health and Human Services.
Trump and Putin Engage in Discussions on Ukraine Peace Negotiations Amid Worldwide Responses
Honda and Nissan End Merger Talks
×