Oil industry representative Rip Psaki on ‘Red Herring’ claim over leases

Oil company executives applauded White House press secretary Jen Psaki for a remark she made about companies signing leases for thousands of oil and suggested they could do it. more to produce oil to lower the price.

Fox News request Psaki on Monday why President Biden will not continue with new oil and gas leases on federal lands.

Psaki replied that the US was producing oil “in record amounts” and said “there are 9,000 approved but unused drilling permits.”

“So the suggestion that we don’t allow drilling companies is incorrect,” she added. “I would recommend asking the oil companies why they don’t use them if there is a desire to extract more.”

However, representatives at the CERAWeek energy conference sponsored by S&P Global Monday say the answer isn’t nearly as simple as Psaki has suggested.

“That accusation is purely a red herring,” CEO Anne Bradbury of the American Exploration & Production Council (AXPC) told FOX Business.

Bradbury added: “It’s really distracting the fact that this administration has halted federal leasing, which we are concerned about and which we think needs to be resumed immediately. .

She also said the Biden administration is “required by law” to sell oil and gas leases on federal properties.

“The reality is that the industry is producing at a higher rate on existing leases on federal land than it has in the last 20 years, and these leases take years to discover, develop, and produce. ,” Bradbury noted.

“This represents a fundamental misunderstanding of how this process works,” American Petroleum Institute (API) President and CEO Mike Sommers told FOX Business.

“Once you rent out land, there is a whole process that you have to go through. First, you have to really discover if there really is oil and gas in that land. First of all, you have to get a permit to actually develop that land,” he continued.

He added: “We’re actually developing more leases right now than we’ve had in two decades, so the White House certainly doesn’t have their facts on this.”

Technology and Energy Council executive director Leslie Beyer also noted that “some permits are possible and some are not” as an explanation why some permits are not being used.

She also noted that Biden’s federal rental ban did not help the situation.

“The rental ban definitely adds a… block to US energy production, so that’s the opposite of what we need to do right now,” she said.

She added: “We need to end the anti-fossil fuel rhetoric and we need some clarity in the regulatory sense that this administration is behind domestic energy production.

https://smartzune.com/oil-industry-reps-rip-psaki-over-red-herring-claim-regarding-leases/ Oil industry representative Rip Psaki on ‘Red Herring’ claim over leases

Jake Nichol

24ssports is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@24ssports.com. The content will be deleted within 24 hours.

Related Articles

Back to top button