from masterresource
Author: Robert Bradley Jr.
“Energy policy is on the ballot this fall, and American voters deserve meaningful answers from all candidates on how to advance affordable and reliable natural gas and oil production for decades to come.” – American Petroleum Institute
The American Petroleum Institute (API) is no better or worse than its membership. If these companies like the free market, then they have a solid base of consumers and taxpayers. If membership is skewed toward government special favors (rent-seeking), APIs disadvantage consumers and taxpayers.
Oil and gas companies should start from basic consumer needs, not political correctness. They could have avoided such wasted efforts as the Strategic Petroleum Reserve in the 1970s and hydrogen and carbon capture today. They should also push hard against wind and solar for grid-tied power and batteries to overcome intermittency.
Today, given the anti-oil and gas agenda of the Biden-Harris administration, API has many free-market arguments and is worthy of 250 actions (and counting). Yes, the upcoming US election is about energy. One major party candidate supports oil and gas (and coal), the other is vehemently opposed (through her agent). There's nothing mysterious there.
Mark Green of API summarizes these issues as follows:
“As demand for affordable, reliable energy continues to grow in the United States and around the world, the oil and gas industry stands ready to work with any administration to advance a policy agenda that helps secure America’s energy future and reduce inflation.”
Energy policy is on the ballot this fall, and American voters deserve meaningful answers from all candidates on how to advance affordable and reliable natural gas and oil production for decades to come.
API offers all candidates a clear and beneficial energy plan—a five-point policy roadmap designed to strengthen U.S. energy leadership and help reduce inflation. You can see the details here and here , but the pillars of the program are:
Protecting consumer choice – The Biden administration is using regulations — the EPA’s emissions rules and new fuel economy standards — to force automakers to build more electric vehicles and push Americans to buy them. Consumers – all of whom have different budgets and family needs – should have more freedom, not less, when deciding which vehicles to buy and drive.
Restoring the role of American energy in enhancing our geopolitical power – When Russia invades Ukraine and restricts gas supplies, American liquefied natural gas (LNG) becomes Europe’s savior. LNG offers other countries the opportunity to reduce emissions from using other fuels — just as the U.S. has done with its power industry. The U.S. Department of Energy should lift the ongoing moratorium on new LNG licenses and immediately approve pending export applications to support the U.S.’s position as the world’s largest LNG supplier.
Take advantage of our abundant natural resources – Today and into the future, the United States must plan for robust production so that homes and businesses have access to affordable, reliable energy—for transportation, home heating and cooking, and countless consumer goods that are essential to modern life. Robust domestic energy production, based on U.S. oil and natural gas, also helps control Americans' energy-related costs, although inflation has a greater impact on the cost of food, health care, education and other necessities.
Fix our broken licensing system – The United States needs to be able to build critical energy infrastructure of all kinds, not just oil and gas projects. But that's being hampered by a federal permitting process that can take years to complete. Comprehensive reforms are needed, such as those proposed in new bipartisan Senate legislation introduced this week.
Advancedsmart tax policy – The U.S. oil and gas industry supports 11 million jobs and generates billions of dollars in investment, boosting the nation’s economy. U.S. tax policy must be competitive with that of other countries because capital flows where it is most welcome. Investments in American industry are critical to a strong, diverse economy and help maintain the jobs, economic growth and tax revenues that support our states and communities.
API’s roadmap is a practical, smart, and feasible path forward for American energy, which should be viewed as a strategic national asset and the foundation of our country’s economy and security.
API President and CEO Mike Sommers:
“As the world's largest producer of oil and natural gas, the United States brings stability during chaotic times, making our industry the envy of the world. This critical framework underscores our commitment to maintaining America’s energy advantage for decades to come.
As election season reaches its climax, we look forward to an important national conversation about energy.
Final comments
On its own, the above 550-word summary of the API is pretty solid. But political correctness and internal rent-seeking prevent API from condemning anti-consumer, taxpayer-driven energy. Today, principles must be combined with pragmatism to promote a comprehensive free-market, classical liberal energy policy. To this end, the oil, gas, coal and internal combustion engine industries should unite against climate alarmism and forced energy transitions.
Relevant
