Energy industry experts and insiders told FOX Business that they welcome Energy Secretary Jennifer Granholm’s call to increase domestic energy production.
Energy experts say they welcome the change in tone of Biden administration officials on domestic energy production amid the global turmoil in energy markets caused by Russia’s brutal war against Ukraine.
Among comments this week pointing to a potential transition from the Biden administration were Energy Secretary Jennifer Granholm’s remarks asking energy executives to start “producing more right now.” She stated this in her speech at the CERAweek S&P Global Energy conference in Houston.
“I think some of the things she said are welcome. She recognized the need to increase oil and gas production right now. She connected with the industry, which was not there before, ”said NYU professor Steven Kunin. .
Kunin, who was undersecretary of energy for science under former President Barack Obama and is now known for his skepticism about how dire the effects of climate change would be, reserved some criticism for Granholm. He lamented the Biden administration’s “systematic pressure on the oil and gas investment community to pull back” from the Biden administration, which he said Grenholm must deal with.
Jennifer Granholm, U.S. Secretary of Energy, speaks at CERAWeek 2022 in Houston, Texas, USA on Wednesday, March 9, 2022. (Photographer: Aaron M. Sprecher/Bloomberg via Getty Images/Getty Images)
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But several other energy industry figures at CERAWeek also said they see positive signals from the Biden administration.
Toby Rice, CEO of EQT, the largest U.S. natural gas producer, spent his CERAWeek promoting a plan to massively increase U.S. natural gas exports to replace dirty international coal. He said the Biden administration needs to adjust its energy policy priorities, but there are signs that Granholm and others are moving in that direction.
“It was clear that the administration was really focused on how we can make energy cleaner? But there is a cost aspect and a reliability aspect, and I think we need a more balanced approach to the solutions we provide,” Rice told FOX Business.
For EQT’s plan to export natural gas, Rice said, “the biggest limiting factor … is simply speed,” especially the lengthy approval process. Speeding up permits is “the only support we need” from the government, Rice continued. And he said the very presence of Granholm, EPA administrator Michael Reagan and other Biden officials at CERAWeek is a positive sign.
In this file photo taken on October 5, 2016, heavy equipment is at work at the site where sections of the Dakota Access pipeline are being buried, near St. Anthony in Moreton County, North Dakota.
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“All these people have gathered at this conference, and it’s amazing. And at this conference we are talking about how to make energy cheaper, more reliable and cleaner. And we need them to participate here,” he said.
AES Corporation Senior Vice President Chris Shelton was at CERAWeek to talk about his company’s efforts to decarbonize the technology industry, primarily using wind, solar and batteries. He called Granholm’s appeal “balanced” in terms of the short-term need for fossil fuels and the long-term need to switch to alternative energy sources.
“She highlighted the role Fossil Solutions is playing today and the role they are playing in the transition,” Shelton said. “But she also pointed out” that “I just mentioned earlier about the stability you can have in the cost of wind and solar energy, and obviously also the benefits of decarbonization that … they bring to us.”
Carlyle Group co-chairman David Rubenstein also praised Granholm as “highly skilled” and “very smart”. He stressed that fossil fuels aren’t going anywhere in the near future and challenged the characterization that the Biden administration is too reluctant to use energy sources like natural gas and US oil.
Renewable energy is “not ready yet,” Carlyle Group co-founder David Rubinstein told FOX Business at the CERAWeek conference in Houston on March 10, 2022.
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“There is a perception that the administration is not very supportive of carbon energy. And that’s not entirely true,” he said. “Remember, we still get most of our energy from carbon-based energy, and the administration recognizes that. I think the Minister of Energy has done a very good job.”
Granholm is asking the energy industry to produce more as demand for the US grows to supply Europe with more energy. The continent is now heavily dependent on Russian oil and natural gas, creating an unacceptable situation as the West seeks to fight back against Russian President Vladimir Putin.
The energy secretary also tried to counter criticism that the Biden administration had crippled the energy industry in its first year by calling it “the same old DC BS.” But not everyone was convinced.
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Republican Senator Mike Sullivan of Alaska has criticized the administration for allegedly pushing to fight US energy production on multiple fronts.
“Americans recognize that the only bullshit coming out of DC these days when it comes to skyrocketing energy prices is the ambiguity of the president and members of his administration,” Sullivan said.
“This administration has unilaterally done everything in its power to stop American energy production,” Sullivan continued, “by destroying energy infrastructure such as pipelines and convincing American financial institutions not to invest in American energy projects, especially in Alaska. . All the while begging dictators around the world to produce more.”