The US has an abundant supply of oil and natural gas to meet our economic, climate, and geopolitical goals. US oil and natural gas is produced under some of the most stringent safety and environmental regulations in the world. And oil and natural gas underpin every aspect of modern life, holding the flexibility to be easily transported and exported, while also acting as reliable sources of energy that balance non-exportable, intermittent renewable energy sources.
As both Democrats and Republicans alike have long supported energy security as a fundamental component of national security, the Biden Administration should support made-in-America oil and natural gas by taking the following steps:
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- Clearly and Unequivocally Signal Support for American Oil and Natural Gas
Inconsistent and, at times, hostile messages from the Biden Administration about domestic oil and gas production creates needless uncertainty among investors and global allies about America’s ability to meet growing energy demand.
- Clearly and Unequivocally Signal Support for American Oil and Natural Gas
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- Restart Regular Leasing on Federal Lands and End DC Review of Routine Permitting Decisions
Our ability to support our allies begins with policy makers’ support for oil and natural gas production here at home. Regularly scheduled lease sales and predictable permitting processes give companies the certainty needed to make long-term business decisions to safely develop our vast natural resources in an environmentally protective way.
- Restart Regular Leasing on Federal Lands and End DC Review of Routine Permitting Decisions
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- Quickly Approve Pending LNG Export Applications
The US Department of Energy should immediately approve the US LNG export applications pending before the Energy Department, so that natural gas can be exported from the US to our allies. There should be an urgent focus on applications that have already been approved by the Federal Energy Regulatory Commission (FERC), or those which do not need FERC approval. Approval of these applications could increase US LNG exports by 20 percent.
- Quickly Approve Pending LNG Export Applications
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- Support Buildout of New Pipeline Capacity
In order to support our allies and reduce reliance on energy from Russia and other rogue regimes, the US needs to invest in its energy infrastructure. The inability to move energy within the US forces consumers to use foreign natural gas during high demand periods. The Administration must call on FERC to reverse its new pipeline permitting policy that will dramatically hinder the ability to build the energy infrastructure needed to access US resources and will make energy more expensive for American families. FERC’s decision to overhaul the certification process could also impede the permitting of new LNG facilities – which creates economic dislocations and impedes environmental progress because US LNG can reduce emissions around the world, while providing our allies with energy security.
- Support Buildout of New Pipeline Capacity
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- Support International Financing for Energy Projects Abroad
- Rescind or Revise the US Department of States’ “Interim Guidance for International Energy Engagements” to facilitate the building of new infrastructure abroad to support our allies in meeting their energy needs. The December 2021 guidance creates uncertainty and additional hurdles for US support of international projects, such as new LNG import terminals.
- Support International Financing for Energy Projects Abroad
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- International Infrastructure. Directing the US International Finance Development Corporation (DFC) to immediately release the $300 million in funding that the US committed in 2020 to the “Three Seas Initiative Investment Fund” to build critical natural gas and other infrastructure along the North-South corridor in Central and Eastern Europe.
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