Texas and 20 states filed a lawsuit against the Biden Administration in March for canceling the Keystone XL Pipeline. The executive order halted the high-profile pipeline project, which included Canadian partners and immediately cut thousands of high-paying, blue-collar jobs across several states. Biden revoked the pipeline permit just hours after reciting the oath of office. Several state attorneys general suing Biden mentioned in their court motion that the power to regulate foreign and interstate commerce belongs to Congress, not the President. The Biden Administration has ignored several studies by the Obama Administration that concluded the Keystone XL Pipeline would boost the U.S. economy, create jobs and safely transport oil around the country without increasing greenhouse gas emissions.
In addition to the pipeline lawsuit, 14 states have filed a court challenge to Biden’s ban on drilling on federal lands. In January, Biden signed Executive Order 14008 that halted new oil and gas leasing and the Interior Department halted new development on existing leases. The drilling ban also applies to offshore oil and gas leases. Like prior administration policies, and by executive fiat, Biden has abandoned middle-class jobs and placed our energy security in the hands of foreign countries.
The $2 trillion infrastructure bill proposed by Biden only includes six percent or $115 billion to modernize roads, highways and bridges, projects typically defined as infrastructure, and have a relationship to our energy independence. Add another $100 billion for Amtrak and road safety. The surprising fact is more money will be spent on electric cars than on roads, bridges, ports, airports and waterways combined. Items in the bill not typically associated with infrastructure include $400 billion for home-based care for the elderly and disabled, $35 billion for climate change R&D, $50 billion for a new department dedicated to monitoring domestic industrial capacity and $213 billion for home sustainability and public housing. There are more elements in the bill that do not meet the traditional infrastructure definition that are not listed here due to space limitations. Our energy ecosystem is tied to traditional infrastructure and it is poor public policy to spend tax dollars on projects that do not modernize our country’s infrastructure. Regarding the lawsuits, I’ll repeat what our good friend Mark Stansberry often mentions, “America needs America’s energy.”
Oil and gas companies are regularly faced with many industry-specific issues to overcome. Such issues, including exploration and drilling, are often complex and intricate processes with many unique challenges to overcome. Data analytics can play a massive part in streamlining some of the most fundamental operations that are involved in the oil and gas industry.