HIGHER TAXES AN FACE OTHER
RESTRICTIONS.
MARIA: THAT WAS PRESIDENT BIDEN
YESTERDAY ACCUSING OIL COMPANIES
OF, QUOTE, WAR PROFITEERING AND
THREATENING TO SEEK NEW REVENUE
WIND FALL PROFITS TAX UNLESS
THEY RAMP UP PRODUCTION TO CURVE
GASOLINE PRICES.
JOINING ME RIGHT NOW LAZAR
MANAGING DIRECTOR STORM WALL
ADVISERS FOUNDER AND AUTHOR OF
WHY AMERICA MATTERS, MICHAEL.
THANK YOU VERY MUCH FOR BEING
HERE.
FIRST GIVE US YOUR REACTION OF
THE PRESIDENT’S NEW IDEA.
NOT A NEW IDEA BUT HE HAS
THREATENED TO PUT IT TO USE AND
THAT’S THE WIND FALL TAX AND
BLAMING OIL PANES FOR NOT
PRODUCING MORE DESPITE THE LIE
MATE CHANGE AGENDA PUTTING
BARRIERS IN FRONT OF THE OIL
COMPANIES TO DO SO.
>> MARIA, THIS REMINDS ME OF
WORST ATTRIBUTES OF THE BIDEN
ADMINISTRATION, TERRIBLE
COMBINATION OF ARROGANCE AND
IGNORANCE, IGNORANCE NOT
UNDERSTANDING HOW GLOBAL MARKETS
WORK AND ARROGANCE TO BELIEVE
THAT A FUTURE THAT HAS AMERICA’S
DOMESTIC ENERGY PRODUCTION HAM
STRUNG IS IN LONG-TERM INTEREST
OF THE NATION. THESE WIND FALL PROFIT TAXES ARE
THESE WIND FALL PROFIT TAXES ARE
GOING TO HAVE THE EFFECT OF REDUCING DOMESTIC PRODUCTION AND
REDUCING DOMESTIC PRODUCTION AND
INCREASING RELIANCE ON IMPORTS.
STARTED WAY BACK TO KEYSTONE XL
AND DRAIN RESERVES, ONGOING
REGULATORY BURDEN ON THE ENERGY
COMPANIES THAT REALLY KEEP THEM
FROM BEING ABLE TO EXPLORE,
DEVELOP AND ESPECIALLY REFINE
OUR OWN NATURAL RESOURCES.
MARIA YEAH, BUT I MEAN, WHAT IS
THAT GOING TO MEAN?
TALK TO US ABOUT WHAT IS GOING
ON TODAY WITH THE CLIMATE CHANGE
AGENDA?
I MEAN, THIS PRESIDENT IS ACTING
AS IF THERE AREN’T BARRIERS IN
PLACE AND BUREAUCRACY TO GET A
LEASE APPROVED AN STILL BLAMING
THE OIL COMPANIES.
>> BLAMING THE OIL COMPANIES AND
YOU’RE RIGHT, BETWEEN THE
INABILITY TO GET PROJECTS
APPROVED AND FINANCE THEM, THE
BANKS ALREADY UNDER PRESSURE TO
NOT FINANCE ANYTHING THAT WAS A
TRADITIONAL ENERGY SOURCE. YOU
CAN’T GET APROJECT APPROVED.
YOU CAN’T RAISE MONEY FOR IT AND
LOOKING AT A POTENTIAL RISK THAT
A RUG CAN BE PULLED OUT FROM YOU
AND CREATES HIGH HURDLE FOR
ANYONE THAT IS INTERESTED AND
MAINTAINING ENERGY SECURITY IN
THE AGENDA, FOR WHAT, FOR AN
AGENDA THAT SAYS WE CAN
MAGICALLY MAKE THE SUNSHINE AT
NIGHT OR THE WIND TO BLOW UPON
EXECUTIVE ORDER, THESE THINGS
ARE NOT POSSIBLE.
PART OF A UTOPIAN DREAM.
WE NEED TO KEEP EMERGENCY
MARKETS ALIVE AND WELL,
PRODUCTION CAPACITY RUNNING STRONG.
MARIA: LOOK AT TODAY’S DIESEL
PRICES.
THE U.S. ENERGY INFORMATION
ADMINISTRATION IS REPORTING THAT
THE COUNTRY HAS ONLY 25 DAYS OF
DIESEL SUPPLY REMAINING SYSTEM
WIDE.
YOUR THOUGHTS ON THESE
DANGEROUSLY LOW LEVELS WITH
REGARD TO DIESEL AND SUPPLY OF
OIL IN THE STRATEGIC RESERVE.
>> YOU’RE RIGHT, PRICES UP 43%
NATIONWIDE AND SOME PARTS 60%
LIKE THE CENTRAL ATLANTIC.
WHEN YOU LOOK AT THIS, THE LOW
SUPPLY COMBINED WITH THE LOW
SUPPLY OF THE RESERVE, WE ARE
REALLY SETTING OURSELVES UP FOR
A SITUATION THAT WE HAVE NO
BUFFER, NO ABILITY TO HANDLE A
REAL CRISIS, A REAL EMERGENCY.
LET’S HOPE THAT THE WINTER ISN’T
WORSE THAN WE EXPECT AND LET’S
HOPE THAT WE DON’T HAVE ANOTHER
CRISIS, REAL CRISIS IN GLOBAL
SUPPLY AND VERY DANGEROUS