World Oil
AUSTIN – Railroad Commissioner Wayne Christian issued a statement regarding new onerous methane rules proposed by the Biden administration’s Environmental Protection Agency (EPA).
Source: World Oil
“While costs for hard-working Americans are up nearly $11,000 this year everywhere from the gas pump to the grocery store, President Biden’s solution to inflation is to increase regulations that will make American oil and gas more expensive,” said Commissioner Christian. “Petroleum helps make more than 96% of everyday consumer items like plastics, food, medicine, and more. These new rules on U.S. oil and natural gas producers will certainly drive those prices up.”
“These new rules are likely to have a disproportionate impact on smaller producers, which make up more than 83% of U.S. production. At a time when producers are facing financial drought from Wall Street and political headwinds from Washington Democrats, that last thing the industry needs is more bureaucratic red tape stifling business,” Christian continued. “It’s hypocritical to kill clean fossil fuel jobs here in America claiming it ensures a clean environment, and then beg our foreign adversaries to produce more using much less environment-friendly methods. Americans are struggling with high prices and the answer to that strife is simple—more U.S. oil and gas production.”
The U.S. is a global leader in reducing emissions, not through regulation – but technological innovation. In fact, methane emissions in the U.S. are down about 66% and down 76% in Texas. Additionally, EPA regulated emissions are down 78% in the last 50 years, while the economy boomed by 286%, population increased by 61%, and energy use is up by 37%.
