Tuesday, March 8, 2022

Oil permits

There is some misunderstanding in regards to US oil production. Biden says the industry currently has 9,000 permits but that is just the first step. First off they have to decide if there is oil in the permitted area and then they face the up hill battle dealing with the various government agencies trying to get the required permission to drill. Who regulates oil and gas industry? The Federal Energy Regulatory Commission, U. S. Department of the Interior Bureau of Land Management, U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration and EPA are the primary agencies responsible for oil and gas regulation. Then there are the state and local regulations to deal with. Biden could declare a national emergency and fast track these rules which would quickly increase the supply of oil. For some reason Biden is more comfortable with oil from other countries even though US oil and processing is the cleanest in the world. It cannot be about climate change because oil no matter where is comes from produces CO2.

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