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Chevron CEO: Energy industry needs more ‘supportive’ policies
Posted on 6/9/23 at 5:19 pm
Posted on 6/9/23 at 5:19 pm
quote:
With concerns growing that gas prices could surge following Saudi Arabia's decision to slash oil production, Chevron Chief Executive Mike Wirth says a friendlier policy environment for the U.S. energy industry would help domestic producers pump more at home.
"We have the ability, as we've seen in recent years, to make the U.S. an energy powerhouse," Wirth told Fox News' "Special Report" on Monday. "But it does need to be done with a supportive policy, with an environment that encourages investment. And we've seen some mixed signals here over recent years."
Wirth said some "modest but meaningful steps on permitting reform" for U.S. producers were included in the recent debt ceiling deal, and the industry hopes "that's a sign of an intent on the part of the administration and Congress to work further towards energy policy that balances economic prosperity, energy security and environmental protection but doesn't over-focus on any of those."
The Chevron CEO pushed back against President Biden's frequent criticisms over U.S. energy producers making record profits last year, and the president's claims that American oil companies could be drilling more using existing leases.
[b]Wirth noted that the oil industry "lost a lot of money" when the onset of the COVID-19 pandemic caused demand to plummet, and "as we've come out of COVID we've been on the other side of that."
"The numbers can be large, but they can go in both directions, and they can go there quickly," he explained. As for leases, Wirth said, "we're not sitting on permits that we're not using."
Wirth agreed with Energy Secretary Jennifer Granholm's claim that the U.S. is on track to reach record levels of production this year, and re-upped his call for the administration to tone down its hostilities toward oil companies.
"We'd like to see a more collaborative and open dialog with the administration," Wirth told host Bret Baier. "We can work together to protect the environment, to address climate change, and to create energy security."
LINK
Posted on 6/9/23 at 5:23 pm to ragincajun03
I agree with all of that, but a new refinery or two would help a great deal to make sure gas prices stay stable as well wouldn’t it?
Posted on 6/9/23 at 5:37 pm to notiger1997
Agreed but who is going to invest 10 bil in a refinery they are trying to kill daily. And actively giving tax payer money to those who go electric
This post was edited on 6/9/23 at 5:38 pm
Posted on 6/9/23 at 5:48 pm to notiger1997
quote:
I agree with all of that, but a new refinery or two would help a great deal to make sure gas prices stay stable as well wouldn’t it?
It could, but if one has been in the plannings in ready for a permit to be filed today, how much longer until it would be approved? Then construction? Then ready to be online?
Of course, and you know this as well...we have to start at some point for one or two to ever be ready.
Posted on 6/9/23 at 6:06 pm to ragincajun03
We need another refinery to start refilling the SPR.
This post was edited on 6/9/23 at 6:07 pm
Posted on 6/9/23 at 6:10 pm to MorningWood
quote:
Agreed but who is going to invest 10 bil in a refinery they are trying to kill daily.
The same government/countries that are also all in on “clean energy” will. Other than nuclear powered ships and subs, every other mechanized pease of equipment from planes, tanks, all the way down to the generators used when power goes out rely on some sort of oil based fuel. Then add in the lubricants, polyesters, and other synthetic things the militaries around the world depend upon.
Planes can’t recharge in flight, and tanks can’t stop for hours to recharge in a war zone.
Posted on 6/9/23 at 6:13 pm to bad93ex
quote:
We need another refinery to start refilling the SPR.
I didn't think the SPR was refined petroleum products.
Am I an idiot, though??
Posted on 6/9/23 at 7:19 pm to biohzrd
quote:
Planes can’t recharge in flight, and tanks can’t stop for hours to recharge in a war zone.
Are you fighting a war in 1950?
Posted on 6/9/23 at 7:34 pm to fightin tigers
quote:
Are you fighting a war in 1950?
How many fighters, transport, refueling, cargo, helicopters, ships(non nuclear), tanks, and so on do you know of that would be anywhere close to reliable, or dependable?
The guys on the front lines, in the planes are a very small part of the vast support roles in the military. All that equipment runs off of the petro industry. Without it every military on earth will come to a grinding halt.
To go ev would destroy the modern world. No shipping, trucking, mass transport of people or materials, and no power. EV’s can’t be recharged without electricity.
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