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<\/p>\nTexas railroad commissioner: Like everyone, I\u2019m heartbroken about everything happening in our world right now. As a parent and grandparent, I\u2019m worried about the nation we are leaving for the next generation.<\/p>\n
In recent years, it has become painfully clear that climate catastrophism has an oversized influence on public policy. An intense focus on reaching the unattainable goal of carbon-zero has repeatedly caused poor policy decisions that increase costs to consumers and make us more reliant on unreliable forms of energy. Ironically, these policies do not reduce emissions, they just ship them overseas and make us more reliant on hostile foreign nations, like Russia and China.<\/p>\n
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But it doesn\u2019t have to be this way. Energy security is national security, plain and simple. I know it sounds played-out but it\u2019s a fact.<\/p>\n
Nowhere is this demonstrated more clearly than in Europe, which had relied on Russia for almost half of its natural gas supply and Chinese renewables for roughly another fifth of their energy. The European Union (EU) has painted themselves into an energy-dependent corner and jeopardized their national security as a result.<\/p>\n
Since taking office, President Biden made every poor decision he could make to cripple our geopolitical standing in the world. From handing Afghanistan to the Taliban to destroying our American energy dominance, it\u2019s clear this administration cares more about appeasing radical left-wing activists than doing what is right for the American people.<\/p>\n
There are better alternatives, and buying American is the solution. In 2019, the US became a net exporter of energy for the first time in 67 years, surpassing Saudi Arabia and Russia to become the largest producer of oil and gas in the world. This gave us affordable energy, thousands of new jobs, economic growth, and national security. Our country achieved this by simply empowering, instead of attacking, domestic oil and gas producers.<\/p>\n
The EU should be buying Liquified Natural Gas from friendly countries like America, Australia, and other western democracies to meet their firm generation needs. It\u2019s dependable, affordable, and cleaner than coal. European gas presently trades around $26 per metric million British thermal units, while the price of US LNG is a little over $9 but has been as low as $4. Given the right production incentives, it can be that low again. Texas represents a quarter of the US\u2019s natural gas production and can certainly produce more to meet that potential demand.<\/p>\n
Texas is the nation\u2019s largest producer of oil and gas, and if it were a country, it would be the third largest producer in the world. Prior to COVID-19 and OPEC disputes, Texas was producing a historic 1.85 billion barrels a year, with a 60 percent increase from 2016-2020. Today, Texas has been producing much less at roughly 4.7 million daily barrels, or a lesser difference of about 320,000 barrels a day.<\/p>\n
Currently, American oil and gas producers are seeing all red lights. From growing ESG investments to federal leasing bans to cancelled pipelines and increased regulations, there has been little incentive the past two years for investors, producers, refiners and more.<\/p>\n
We need to be realistic and practical. The price of crude oil has skyrocketed, inflation is rampant, and Europe is mired in its first ground war since World War II. It\u2019s time to switch the lights from red to green. We should be divesting from hostile countries and harnessing American oil and gas right here in the Permian Basin.<\/p>\n
This wouldn\u2019t be the first time Texas energy played an impactful role on the world stage. In World War I, Eastland County, Texas and the \u201cRoaring Ranger\u201d production were essential to the Allied victory. In World War II, six of the seven billion barrels of oil used to win the war came from the US, with two East Texas pipelines largely responsible for transporting most of it from the largest oil field in history at the time. Winston Churchill at the end of the conflict said that the war was won on a sea of East Texas oil.<\/p>\n
As Chairman of the Railroad Commission of Texas, I led an effort, joined by my colleagues, calling for all oil and gas producers to divest from Russia. I\u2019m glad to see some large producers heeded that call as well as mildly encouraged that President Biden came to his senses on Russian oil. However, there is much more that needs to be done to end Putin\u2019s unlawful war, decrease energy costs and strengthen our national security. As Biden shuts the spigot off on Russian oil and gas, he needs to turn the American one on full blast.<\/p>\n
The Lone Star State is ready to meet US energy needs and help our European allies meet theirs. Mr President, please just give Texas the green light.<\/p>\n