uncertainty

related to chaos?  maybe has implicit notion that we are gonna get rid of dems who pass regs or just the regs themselves?  or more benignly acknowledges electoral shifts;

a devil term for regulations // stability ~ crisis/chaos

https://www.api.org/news-policy-and-issues/blog/2022/03/01/voters-to-biden-us-gas-oil-strengthens-global-security

news: President Joe Biden delivers hisState of the Union address tonight. Americans will be listening closely to how he defines our security challenges and charts the path ahead. While it’s unclear what lies ahead as Russia invades Ukraine, we know one thing for sure: American energy is a positive force in difficult times, helping to provide stability for ourselves and our allies in Europe. Indeed, because of their commitment to technology and innovation, America’s natural gas and oil producers are able to use the vast abundance of energy right under our feet.

Perspective: According to one estimateby the International Energy Agency (IEA), nearly half of all energy used globally in 2040 will come from natural gas and oil – even if all 196 nations party to the Paris Climate Agreement meet their emissions reduction goals. Whileinnovationsare well underway to meet a lower-carbon future, the fact is that we’ll need more of these critical resources – not less – as the world’s population hits a projected 9 billion people by midcentury.

The Big Question: So the important consideration is where that natural gas and oil gets produced: Here in America, which requires operators to meet environmental standards and safety laws [HALLIBURTON DR GAG 2005 YOU BASTARD] that are among the most stringent on the planet? Or, should production shift overseas to nations which may have fewer environmental protections and regulatory oversight?

Here At Home: The answer is obvious and voters agree, :{according to new:{ polling by Morning Consult on behalf of API:(style="background-color:#ffff66;"):}::(style="box-sizing:border-box;padding-left:21px;background-image:url("):}::

• 90 percent of voters support the U.S. developing its own domestic sources of energy rather than relying on other regions of the world (Democrats 92%; Independents 86%; Republicans 90%).
• 85 percent believe producing natural gas and oil here in the U.S. helps America maintain a leadership role during a period of global uncertainty (Democrats 82%; Independents 78%; Republicans 91%).
• 85 percent believe that producing natural gas and oil here in the U.S. could help lower energy costs for American consumers and small businesses (Democrats 81%; Independents 80%; Republicans 90%).
• 84 percent agree that producing natural gas and oil here in the U.S. helps make our country and allies more secure against actions by other countries such as Russia (Democrats 83%; Independents 78%; Republicans 88%).

30,000-Foot View: With global supplies disrupted, America has the energy abundance and the expertise to sustain reliable supply in the decades ahead and is currently working full throttle to enhance energy security for our allies abroad. As President Biden enters the House Chamber this evening, few things are more paramount than increasing energysecurity at home and abroad. Taking actions to restrict U.S. natural gas and oil are steps in the wrong direction.

Action Items: Here are several actions America’s natural gas and oil producers hope that the President will take in tonight’s State of the Union speech:

• Emphasize Energy Security and LNG Infrastructure: As Russia escalated threats against our European allies late last year, the U.S. overtook Australia and Qatar as the world’s largest liquefied natural gas (LNG) exporter. Experts predict America will surpass all other nations in creating the most LNG capacity by year’s end. And for a period in January, American LNG shipments to Europe overtook Russian natural gas pipeline deliveries for the first time ever. America’s allies agree: LNG is an energy security game-changer – and the administration should take actions to ensure supply and build infrastructure. Absent restrictions and polices to curtail production, the U.S. can do even more to help Europe. The administration can move faster in authorizing additional LNG exports and should ensure LNG facilities here have the flexibility to increase export volumes if needed. It should also ease barriers that block U.S. support for overseas natural gas infrastructure projects.
• Reduce Permitting Uncertainty: News last week that the Federal Energy Regulatory Commission (FERC) had voted along partisan lines to significantly increase regulatory barriers for approving natural gas pipelines could have a direct impact on America’s response to the current geopolitical situation. FERC’s decision inserts more uncertainty into the approval process at exactly the time operators need clarity. Unfortunately, FERC is not alone in issuing restrictive policies. In an op-ed in The Hill, Ellen R. Wald, a senior fellow with the Atlantic Council, detailed the many restrictive actions the administration has put in place at the same time they’ve asked oil producers to increase production: “Oil prices are high enough that companies should be producing more and planning for growth, but they are not,” Wald wrote. “The White House should be working to alleviate producers’ concerns about … the permitting process and other regulatory issues so that producers can feel confident investing profits in future oil production. After all, more supply means more reasonable prices. This is perhaps the quickest way to lessen pain at the gasoline pump.”
• Reject Protectionist Policies: Americans are struggling with inflation and rising energy bills. And instituting an export ban on LNG, as 10 Senators asked President Biden to implement is not a solution. Increasing LNG exports are not to blame for higher domestic costs. (For example, an Energy Information Administration report cited pipeline restrictions in New England as a key factor in local price increases.) Only about 10% of U.S. natural gas is sent overseas as LNG. And when exports grew the most, in 2019, domestic natural gas prices not only didn’t rise, but fell to three-year lows. Department of Energy studies under the Obama and Trump administrations concluded that rising LNG exports have a negligible impact on domestic prices. Amid high inflation, global instability and a worsening European energy crisis, the most important move federal policymakers can make is to signal that America is well-positioned to provide stability amid any supply disruption – and can do so without increasing costs at home. Hopefully, President Biden will continue to reject export bans that would undermine energy security.
• Promote American Energy Leadership: Over the previous decade, as the benefits of the Shale Revolution were realized and policies were put in place to allow natural gas and oil development, America gained our energy independence and became a net exporter of natural gas and oil. And as the world emerges from the economic chaos and disruption caused by the pandemic, America is again the world’s top producer of natural gas and oil. However, a dip in production has meant a return to being a slight net importer in crude and refined products. The path to restoring energy dominance is in avoiding policies that restrict future investment or hinder supply. Last weekend’s decision by the Interior Department to freeze certain new oil and gas leases on federal lands and waters is a great example. President Biden should announce its reversal tonight. Imperiling lease sales threatens supply and discourages the kinds of investments that enables energy leadership and lower, stable consumer costs. The President should also ensure the completion of the next five-year offshore leasing program, which should be in place July 1, 2022. President Biden should move forward with a new plan to head off another massive restriction on American energy production.

What They’re [HUH?] Saying: “We commend the administration’s focus on addressing climate change and share the goal of reducing emissions across the economy, but we cannot let that objective detract from the clear and present need for continued responsible investment in oil and natural gas development. Recent developments illustrate the importance of the government working collaboratively with industry to ensure U.S. energy and economic security, as well as that of our allies in Europe and around the world. Now more than ever, the administration should speak clearly and without equivocation that the United States will be a reliable producer and supplier of oil and natural gas to our allies around the world both now and in the future.” –API President and CEO Mike Sommers

About The Author

Lem Smith is API’s vice president for Federal Relations.Lem joined API in February 2020 as vice president for Upstream Policy & Industry Operations. He previously served as a principal at Squire Patton Boggs, an international law and public-policy firm, where he advised private and public sector clients on federal and multi-state policy matters and provided counsel on communications strategies, campaign affairs and crises management. Previously, Lem was director, U.S. Government & Regulatory Affairs at Encana,and responsible for all aspects of U.S. government relations and regulatory policy matters at the state and federal levels. Prior to that, Lem was director of Government Relations for Kerr-McGee Corporation. Lem began his career on Capitol Hill, working for U.S. Senate Majority Leader Trent Lott, U.S. Rep. Roger Wicker (Mississippi) and the late U.S. Rep. Charlie Norwood (Georgia), where he negotiated key member priorities within the 2005 Energy Policy Act (EPAct). Lem is a graduate of the University of Mississippi.