Staff Reports
The year 2023 will go down in history as the first since 1958, during which the United States did not hold any offshore oil and gas lease sales. One can only imagine the satisfaction of environment-loving activists as they pop their organic popcorn to watch the consequences of this lackluster energy strategy unfold. Energy expert Alex Epstein recently stated that the record-high oil production in the U.S. can largely be attributed to the resilience of American energy workers rather than the pro-regulation, anti-drilling vibes coming from the Biden-Harris administration. If the energy policies of this administration truly had the intended effect, one would expect to see production soaring rather than stagnating.
In particular, the Gulf of Mexico continues to be a stalwart in U.S. oil production, contributing a solid 14% to the national output. However, it hasn’t witnessed any meaningful growth recently, maintaining a flat production curve that effectively resembles a lazy line artist who fell asleep mid-sketch. The trend isn’t promising, either; exploration has been in a downward spiral since 2014, declining at an alarming annual rate of 14%, so much for Biden’s grand ambitions for energy independence.
Congratulations to the Biden-Harris team on yet another first…..
This year marks first since 1958 that US held no oil and gas lease sales https://t.co/6tvFsYzvbv via @JustTheNews
— US Oil & Gas Association (@US_OGA) September 26, 2024
Interestingly, the only reason there were any offshore lease sales in 2023 at all is due to a mandate buried in the Inflation Reduction Act, which would have otherwise made oil and gas leasing a ghost of the past. Independent Senator Joe Manchin of West Virginia, whose state has an economy heavily tied to the fossil fuel industry, noted that the administration would prefer to scrap the federal oil and gas leasing program altogether. Thankfully, due to Manchin’s tireless efforts, provisions were snuck into the IRA that linked offshore oil and gas leases to the all-too-adored offshore wind leases the administration craves.
Biden’s ambitious renewable energy goals extend to constructing a whopping 30 gigawatts of offshore wind energy by 2030. However, that dream quickly turned into a nightmare for oil and gas leasing, as attempts by the administration to shrink the 2023 lease sale by a cumbersome 6 million acres were thwarted by a federal judge declaring such actions unlawful. One can’t help but wonder if the green warriors fighting against fossil fuels are more concerned about Rice whales than they are about the thousands of jobs tied to oil and gas production. It’s a puzzling irony that while activists jump up and down over the perceived dangers of fossil fuels, they turn a blind eye to the damage wrought by spinning wind towers.
Diving deeper into the administration’s five-year offshore drilling plan reveals a bleak picture, with the fewest oil and gas lease sales ever proposed in its history. Only three leases are permitted in the Gulf of Mexico, and they won’t even be allowed until 2025, 2027, and 2029. Apparently, the administration thinks it can pick and choose when to tap into America’s vast energy resources while maintaining its focus on foreign oil. This oil certainly comes with its own set of questionable ethical standards.
Elmer “Bud” Peter Danenberger, a former engineer with decades of experience in offshore oil and gas, sarcastically observed that while the Biden administration has put the brakes on U.S. offshore energy development, it has curiously not reimposed sanctions on Venezuela despite the country’s clear failure to meet basic democratic principles. The contrast in policy suggests that perhaps the drive to pander to climate activists has less influence on foreign oil sourcing than on energy policy at home. It’s the kind of irony that makes one wonder whether the greener-than-thou attitude is merely virtue signaling—while dirty oil from abroad remains a staple in the U.S. energy diet.
