Reaction & Commentary
WHY AMERICA MATTERS, MICHAEL. THANK YOU VERY MUCH FOR BEING HERE. FIRST GIVE US YOUR REACTION OF THE PRESIDENT’S NEW IDEA. NOT A NEW IDEA BUT HE HAS THREATENED TO PUT IT TO USE AND THAT’S THE WIND FALL TAX AND BLAMING OIL PANES FOR NOT PRODUCING MORE DESPITE THE LIE MATE CHANGE AGENDA PUTTING
BARRIERS IN FRONT OF THE OIL COMPANIES TO DO SO. >> MARIA, THIS REMINDS ME OF WORST ATTRIBUTES OF THE BIDEN ADMINISTRATION, TERRIBLE COMBINATION OF ARROGANCE AND IGNORANCE, IGNORANCE NOT UNDERSTANDING HOW GLOBAL MARKETS WORK AND ARROGANCE TO BELIEVE THAT A FUTURE THAT HAS AMERICA’S DOMESTIC ENERGY PRODUCTION HAM STRUNG IS IN LONG-TERM INTEREST
OF THE NATION. THESE WIND FALL PROFIT TAXES ARE THESE WIND FALL PROFIT TAXES ARE GOING TO HAVE THE EFFECT OF REDUCING DOMESTIC PRODUCTION AND REDUCING DOMESTIC PRODUCTION AND INCREASING RELIANCE ON IMPORTS. STARTED WAY BACK TO KEYSTONE XL AND DRAIN RESERVES, ONGOING REGULATORY BURDEN ON THE ENERGY COMPANIES THAT REALLY KEEP THEM
FROM BEING ABLE TO EXPLORE, DEVELOP AND ESPECIALLY REFINE OUR OWN NATURAL RESOURCES. MARIA YEAH, BUT I MEAN, WHAT IS THAT GOING TO MEAN? TALK TO US ABOUT WHAT IS GOING ON TODAY WITH THE CLIMATE CHANGE AGENDA? I MEAN, THIS PRESIDENT IS ACTING AS IF THERE AREN’T BARRIERS IN
PLACE AND BUREAUCRACY TO GET A LEASE APPROVED AN STILL BLAMING THE OIL COMPANIES. >> BLAMING THE OIL COMPANIES AND YOU’RE RIGHT, BETWEEN THE INABILITY TO GET PROJECTS APPROVED AND FINANCE THEM, THE BANKS ALREADY UNDER PRESSURE TO NOT FINANCE ANYTHING THAT WAS A TRADITIONAL ENERGY SOURCE. YOU CAN’T GET APROJECT APPROVED.
YOU CAN’T RAISE MONEY FOR IT AND LOOKING AT A POTENTIAL RISK THAT A RUG CAN BE PULLED OUT FROM YOU AND CREATES HIGH HURDLE FOR ANYONE THAT IS INTERESTED AND MAINTAINING ENERGY SECURITY IN THE AGENDA, FOR WHAT, FOR AN AGENDA THAT SAYS WE CAN MAGICALLY MAKE THE SUNSHINE AT
NIGHT OR THE WIND TO BLOW UPON EXECUTIVE ORDER, THESE THINGS ARE NOT POSSIBLE. PART OF A UTOPIAN DREAM. WE NEED TO KEEP EMERGENCY MARKETS ALIVE AND WELL, PRODUCTION CAPACITY RUNNING STRONG. MARIA: LOOK AT TODAY’S DIESEL PRICES. THE U.S. ENERGY INFORMATION ADMINISTRATION IS REPORTING THAT THE COUNTRY HAS ONLY 25 DAYS OF
DIESEL SUPPLY REMAINING SYSTEM WIDE. YOUR THOUGHTS ON THESE DANGEROUSLY LOW LEVELS WITH REGARD TO DIESEL AND SUPPLY OF OIL IN THE STRATEGIC RESERVE. >> YOU’RE RIGHT, PRICES UP 43% NATIONWIDE AND SOME PARTS 60% LIKE THE CENTRAL ATLANTIC. WHEN YOU LOOK AT THIS, THE LOW SUPPLY COMBINED WITH THE LOW
SUPPLY OF THE RESERVE, WE ARE REALLY SETTING OURSELVES UP FOR A SITUATION THAT WE HAVE NO BUFFER, NO ABILITY TO HANDLE A REAL CRISIS, A REAL EMERGENCY. LET’S HOPE THAT THE WINTER ISN’T WORSE THAN WE EXPECT AND LET’S HOPE THAT WE DON’T HAVE ANOTHER CRISIS, REAL CRISIS IN GLOBAL SUPPLY AND VERY DANGEROUS
