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Oil and gas execs rip Biden for treating industry like an 'enemy' - YouTube
Channel: Fox Business
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the energy industry is certainly being
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targeted right now by a number of
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progressives on Capitol Hill Bernie
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Sanders who recognizes or thinks there's
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a cabal going on and that they're
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capitalizing off of all of this uh enter
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Ron Ness the North Dakota petroleum
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council president Tim Stewart with us as
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well the U.S gas and oil Association
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president uh they're working with a
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group of 10 oil and gas trade groups to
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effectively say look you know
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Administration Congress we want to work
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with you but let's get past the name
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calling uh I think I've got that right
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and gentlemen I want to welcome you both
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it's a pleasure to have you here but Tim
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let me since then we do I want to begin
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with you on this argument that's out
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there and I I worry that it gets
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traction if people don't challenge it at
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this popular notion that you guys or the
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industry itself is responsible for the
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high prices we are seeing I mean that
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that's just not the case uh but it's
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it's very hard to fight that especially
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when you have the powers that be that
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don't want to take any to blame
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themselves so what do you do to
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challenge it
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well that's a great question a great
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point you know I was listening to
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Hillary's comments a few minutes ago in
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my 30 years of working in Washington
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I've learned one thing which is Congress
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is only good at doing two things which
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is do nothing until it's time to
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completely overreact and the reality is
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is look the by Administration and the
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and its allies in Congress did nothing
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to address this crisis as it was
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unfolding while we are warning them of
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that until it comes to a complete head
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and and in fact they actually were
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accelerating the crisis and so when it
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all comes to a head what they're they've
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tried out some moldy old ideas from the
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70s with regards to windfall of profits
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tax or price gouging and I tell Senator
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Sanders those those enriching those
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those investors those are Pension funds
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and those are P the small investors have
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invested through mutual funds in the in
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the oil and gas industry he needs to be
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careful about who he's worried about
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being enriching
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you know if you raise a very good point
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I mean a lot of people who invest in
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energy stocks oil stocks in general of
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course love the added appeal of the oil
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companies that they did it ends up you
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know income that you can get from
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investing in a company in a stock and
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and those are not fat cats that taking
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advantage of that a lot of people this
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is paying for their retirement leaving
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that aside Ron I'm curious as to how you
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work with an Administration though that
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is already said we're not for uh opening
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up Keystone or even expanding domestic
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oil production points the finger back at
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you guys to say uh there are a lot of
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unused contracts and leases on land uh
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and if you were so hot to to take
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advantage of that you would and you're
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not what do you say
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well thanks Neil for having me today uh
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you know oil and natural gas is the
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backbone of our economy and president
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Trump recognized that early on in his
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run for presidency and he made our
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country America the world's largest
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producer of oil and natural gas this
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President could change the price of gas
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tomorrow if he would come to the podium
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and announce that his his administration
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is changing direction he's directing his
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federal agencies to work with industry
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approved permits approved pipeline
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projects uh urging the financial sector
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to invest in oil and gas and grow
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production America that is a huge
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problem that we're having in North
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Dakota trying to get Wall Street and
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investors who are being told every day
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not to invest in fossil fuels that is
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limiting our ability to grow and this is
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a big uh it's taken a long time to get
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here over you know about 15 months for
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this Administration to watch Us's oil
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and gas production decline we're not
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going to turn around overnight but they
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can have an impact tomorrow if they
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change the direction of this country
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it's fixable we can make the cleanest
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Barrel of oil in the world in North
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Dakota and the Bakken and we can grow
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our production in America to offset
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Russian uh oil production so it could
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happen it's just that there's a constant
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diatribe almost wanting Energy prices to
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be high for the talking points you saw
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earlier from the Democratic Party
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I you know gentlemen I just don't see
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that attitude in Washington going and to
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prove the point you could see that uh
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they're they're very interested that in
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the administration they're talking about
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getting oil for example from Venezuela
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among the dirtiest oil uh Final on the
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planet
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um so if environmental concerns were a
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Paramount problem that would never never
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would be be an issue but but but but it
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is and desperate times quote for
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desperate measures but the the real
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strategy seems to be and I'll pick up
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this point with you Tim uh just not to
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focus on fossil fuels at all
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um the push right now because of these
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higher prices to electric vehicles which
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of course is is good news for
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environmentalists because they want us
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off the stuff that you're touting
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um so how do you change minds or can you
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well that's a you know that is a
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challenge that uh we have in trying to
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to help scope this narrative and the
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reality is is what they're proposing
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just isn't grounded in reality look we
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want to meet them on Common Ground uh
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that was the purpose of our message to
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the administration last week is there's
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common ground which we can meet on but
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the first thing you have to do is stop
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treating the U.S oil and gas industry as
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if it is an enemy to the American people
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for whatever reason in Venezuelan crude
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in their mind is better than Wyoming
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crude or North Dakota crude and and that
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is just a a false narrative that we are
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struggling to change to to Ron's point
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though Neil we've got 4 600 permits that
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could be approved today uh we're waiting
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on additional approval from the
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administration to get our infrastructure
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built for an in for an Administration to
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so uh it offense emphasizes the
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infrastructure so heavily pipeline
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infrastructure is as important as any
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other Road or Bridge the other thing
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that they could do though is send a
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clear message to Wall Street which is uh
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it is is okay to invest in the oil and
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gas industry in the United States
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they've got to stop sending nominees to
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Congress who are openly hostile to the
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industry they've got to pull back some
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of these rules that they're putting out
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coming out of the SEC and labor and
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others essentially trying to de-bank
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Industry and in doing so we'll be able
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to to bridge that transition look we all
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want to get there eventually but we'll
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be able to bridge that transition but it
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isn't going to happen tomorrow despite
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their best wishes
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so Ron timid mentioned that you guys
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have communicated with the White House I
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I don't know if that directly includes
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the president
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um what have you heard back because uh
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their actions seem to be speaking fairly
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loudly on this they're they're not open
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to domestic production at all there's
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nothing that seems to hint of that uh so
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is this all a wasted time or or what
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well we sent a letter to the president
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last week 10 oil and gas trade
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associations across this country uh it's
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very insulting to us that we look at
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Venezuela to increase oil production uh
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the country of Venezuela today produces
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800 000 barrels of oil a day the state
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of North Dakota produces 1.1 million we
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were at 1.5 million about 15 months ago
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with the right uh regulatory policies
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the right investment climate weekend
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increase production in America that adds
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jobs it adds wealth it adds it adds to
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our economy but more importantly maybe
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in the geopolitical world it truly helps
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our friends and allies across this world
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in this situation we're in with the
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Ukraine it didn't take a rocket
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scientist to understand that demand was
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going to go up after we got out of covet
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uh Supply was going down because of all
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of the pressures uh to decrease American
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oil production so we're in this
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situation America's oil and gas industry
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stands ready to help but every day you
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wake up and the federal government is is
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going after you targeting you
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discouraging investment and discouraging
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workers those things diminish the the
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willingness of the industry to be able
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to ramp up and it doesn't happen
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overnight it's a it's a big industry it
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takes a long time to get these permits
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these processes in place to uh increase
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production but we can do it in America
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no I think you're right I'm I'm always
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wondering you know those who Advocate
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one energy over another why can't you
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just be all in on everything if you want
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to pursue green technologies and the
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wind and solar and all that have at it
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but don't lose sight of the stuff that
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we have plenty of here go all in with
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everything but what do I know you guys
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are the experts Ron and Tim I want to
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thank you both for coming here stating
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your case things people need to hear it
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