Tag: oil production

EIA’s Annual Energy Outlook 2022 reference case (which assumes current laws and regulations) projects that U.S. energy consumption will grow through 2050. According to the reference case, petroleum will retain the largest share of energy consumption throughout that period, followed by natural gas. Renewable energy is projected as the fastest-growing energy source through 2050. EIA […]

Joe Biden ran for president promising to end domestic production of natural gas, oil, & coal. Joe Biden hired a team of bureaucrats who zealously attacked American energy producers from day one. Now that the predictable consequences of his extremist agenda are coming to fruition Biden and his cronies are changing their tune. You can’t […]

China’s low-carbon goals should not come at the expense of energy and food security or the “normal life” of ordinary people, according to its president, Xi Jinping, signaling a cautious approach to the Paris agreement and COP26 pledges to reduce emissions. China is the world’s biggest emitter of greenhouse gases. It sees pledges to reduce carbon […]

Last week 41 of the biggest energy-haters in Congress sent a letter to Richard Glick, chairman of the Federal Energy Regulatory Commission, caterwauling about high energy prices. Like the gassy wheezer who fouls the living-room air and then kicks the dog to shift the blame, this cabal of pipeline blockers and permit-revokers tries to shift […]

Despite high gasoline prices, the Biden administration is reversing a Trump policy that opened up land in Arctic Alaska to new oil development. Biden’s Department of the Interior will scrap the Trump policy that authorized expanded leasing and development in the National Petroleum Reserve in Alaska, or NPR-A. The Trump administration approved a plan to allow oil […]

On November 19, the House of Representatives passed a $2 trillion budget bill with a long list of increases in federal royalties and fees, plus new fees, new taxes, and barriers to leasing in the Arctic National Wildlife Refuge, the Pacific, Atlantic, and eastern Gulf of Mexico. It passed on a party-line vote of 220-213 and was […]

On Monday, a group of 11 U.S. Senators wrote a letter to President Biden complaining about the high price of gasoline. Like the Secretary of Energy, these Senators get some basic facts wrong about the oil market in the United States and around the world. In this case, the Senators are wrong because the United […]

Last week, Energy Secretary Jennifer Granholm erroneously claimed that “OPEC controls more than 50 percent of petroleum supply.” This week she was back on TV with new inaccurate claims. For example, on State of the Union on CNN, she erroneously claimed, “OPEC is a cartel, and it controls over 50 percent of the supply of gasoline.” […]

Last week OPEC+ talks on oil production quotas for member nations stalled and, as a result, oil prices rose. The Biden administration is somewhat concerned about the increase in oil prices and in response to the OPEC+ stalemate, a Biden administration spokesperson stated, “Administration officials have been engaged with relevant capitals to urge a compromise […]

On energy, President Donald Trump has Made America Great Again. In 2019, after 62 years, the United States achieved energy independence, meaning that as a nation we produced more energy than we consumed. In 2019, the United States produced more oil and more natural gas than either Russia or Saudi Arabia. In fact, in June […]