The litany of grievances—and concerns—runs long for a Permian Basin oilman living in a nation where the commander in chief is pulling out all the stops to fight climate change.
“Biden’s attack is through this alphabet soup of agencies: the EPA, FERC, DOI, SEC, the CEQ (Commission on Environmental Quality),” Steve Pruett, chairman of the Independent Petroleum Association of America and CEO of Elevation Resources, said during Hart Energy’s SUPER DUG Conference & Expo. “Oh, and I left out the FTC [Federal Trade Commission] now that’s coming after our own Scott Sheffield with baseless accusations. Not to mention the FTC is putting a monkey wrench in a whole bunch of transactions.”
Protections for the dunes sagebrush lizard living in the Permian, changes to the National Environmental Policy Act, the LNG export pause, federal leasing slowdown, rising royalty rates and long permitting times made Pruett’s list. He highlighted several regulations, which have sparked angst and lawsuits, that companies should prepare for if they haven’t done so already. Methane emissions are at the forefront.