MARIA: THANK YOU SO MUCH.
THE WHITE HOUSE IS CLAIMING NOW
THAT IT IS NOT STANDING IN THE
WAY OF OIL OF DRILLING IN THE
UNITED STATES.
WATCH THIS.
>> THERE HAVE BEEN SOME
INCLUDING THE AMERICAN HE
PETROLEUM INSTITUTE WHO HAVE
CLAIMED THAT THIS IS AN ISSUE OF
HAVING ACCESS OR FUNDS.
THE OIL AND GAS INDUSTRY HAS A
LOT OF PERMITS.
ON-SHORE YOU ALONE, MORE THAN
9,000 UNUSED APPROVED PERMITS TO
DRILL.
I WOULD NOTE THAT ONLY 10% OF
DRILLING IS HAPPENING ON FEDERAL
LAND.
THE OTHER 90% IS ON PRIVATE
LAND.
I’M TALKING ABOUT THE 10% IN
THAT CASE.
SO THE ARGUMENT THAT THERE ARE
JUST NO OPPORTUNITIES TO DRILL
FOR OIL IS JUST NOT TRUE.
THE PHENOMENON THAT WE’RE
ACTUALLY SEEING IS MUCH MORE
ABOUT FIRMS WANTING TO RETURN
CASH TO INVESTORS THAN ABOUT A
LACK OF OPPORTUNITY.
MARIA: SOUNDS LIKE ANOTHER
FLIP-FLOP.
JOINING ME NOW IS THE AMERICAN
PETROLEUM INSTITUTE PRESIDENT
AND CEO HIMSELF, MIKE SOMMERS.
MIKE, IT’S GREAT TO SEE YOU.
THANKS VERY MUCH FOR BEING HERE.
YOU HEARD JEN PSAKI, SHE CALLED
OUT YOUR GROUP, THE API, BY
NAME.
WHAT’S YOUR RESPONSE?
>> WELL, JEN HAS A FUNDAMENTAL
MISUNDERSTANDING AS TO HOW THE
PROCESS WORKS FOR FEDERAL LANDS
ON BOTH FEDERAL LANDS AND
FEDERAL WATERS.
AS YOU KNOW, IT TAKES A LONG
TIME TO DEVELOP THOSE LEASES.
WHAT SHE’S ACTUALLY ADVOCATING
FOR HERE IS THAT WE LEASE THOSE
LANDS AND THEN NOT DO ANY
ENVIRONMENTAL HE REVIEW, NOT
ACTUALLY EXPLORE AS TO WHETHER
OR NOT THOSE LANDS ACTUALLY HAVE
PRODUCTIVE OIL AND GAS AND THEN
ACTUALLY VIOLATE THE LAW WITHOUT
GETTING A PERMIT.
WHAT WE’RE SUGGESTING HERE IS
THAT THERE’S A LONG LEAD TIME,
ONCE YOU GET A LEASE IN PLACE.
IT’S NOT AS IF YOU CAN JUST SET
UP A RIG ON THOSE LANDS.
SO OUR MEMBERS ARE OF COURSE
TRYING TO GET THOSE LEASES BUT
WE ALSO HAVE TO REMEMBER THAT
THERE HASN’T BEEN A LEASE SALE
IN THIS COUNTRY SINCE BIDEN
ADMINISTRATION WENT INTO EFFECT.
WE NEED MORE ACCESS TO THESE
FEDERAL LANDS AND PARTICULARLY
THESE FEDERAL WATERS WHICH WE’RE
NOT GETTING.
BUT AT THE SAME TIME, THE
AMERICAN OIL AND GAS INDUSTRY IS
STEPPING UP.
IN FACT, JUST IN THE LAST YEAR
WE’VE INCREASED PRODUCTION BY
ALMOST A MILLION BARRELS TO MEET
THE MOMENT, TO MAKE SURE THAT
AMERICAN CONSUMERS HAVE ACCESS
TO OIL AND GAS MADE RIGHT HERE
IN THE UNITED STATES.
MARIA: WELL, I MEAN, DO THE
ENERGY COMPANIES HAVE WHAT IT
TAKES TO ACTUALLY DO WHAT YOU’RE
TALKING ABOUT AT THIS POINT?
BECAUSE AS I’VE BEEN REPORTING,
THERE ARE A NUMBER OF WALL
STREET FIRMS THAT HAVE CUT OFF
OR AT LEAST LESSENED THEIR
EXPOSURE TO EXPLORATION.
TAKE THE BLACKSTONE GROUP,
RECENTLY SAYING IT WILL NO
LONGER FUND OIL AND GAS
EXPLORATION IN THE UNITED
STATES.
YOU ALSO HAVE OTHERS, EXXON
MOBIL COMPLETELY CHANGING ITS
BUSINESS, WALKING AWAY FROM
PRODUCTIVE DEALS THAT WERE IN
PLACE BEFORE JOE BIDEN ENTERED
THE WHITE HOUSE BECAUSE THE
WHITE HOUSE SETS THE TONE.
SO GIVE US YOUR TAKE ON WHERE
THE ENERGY INDUSTRY, THE OIL
INDUSTRY -- I’M TALKING ABOUT
BIG OIL, WHERE IT STANDS TODAY
IN TERMS OF ITS WILLINGNESS, ITS
ABILITY, ACCESS TO FUNDING AS A
RESULT OF THE TONE SET BY THIS
WHITE HOUSE?
>> NOTWITHSTANDING EVERYTHING
THAT YOU’VE JUST OUTLINED, WHICH
ARE REAL IMPEDIMENTS TO OIL AND
GAS DEVELOPMENT IN THE UNITED
STATES, EXXON MOBIL JUST
ANNOUNCED THEY’RE GOING TO BE
EXPANDING THEIR PRODUCTION IN
THE PERMIAN BASIN, THE MOST
PROLIFIC BASIN IN THE UNITED
STATES.
CHEVRON IS DOING THE SAME.
WE UNDERSTAND THIS IS A CRISIS
MOMENT FOR THE WORLD AND THE
UNITED STATES NEEDS TO LEAD THE
WAY.
LET’S NOT FOR GET WHERE WE WERE
IN 2008 WHERE WE WERE ONLY
PRODUCING 6 MILLION BARRELS A
DAY AND THAT NUMBER WAS GOING
DOWN.
RIGHT NOW, WE’RE PRODUCING
ALMOST 12 MILLION BARRELS A DAY
AND THAT NUMBER IS GOING UP.
IN FACT, THE ENERGY INFORMATION
AGENCY, A BRANCH OF THE FEDERAL
GOVERNMENT, SUGGESTS THAT WE’RE
GOING TO REACH RECORD LEVELS OF
PRODUCTION IN 2023.
WE’RE GOING TO DO WHAT WE NEED
TO DO TO SUPPORT THE WORLD
DURING THIS TIME OF CRISIS.
DESPITE THIS PRESIDENT
CONTINUING TO TALK DOWN
DEVELOPMENT HERE IN THE UNITED
STATES.
MARIA: AND WE UNDERSTAND THAT
HE WAS PRETTY MUCH FORCED TO
ANNOUNCE YESTERDAY U.S. BAN ON
RUSSIAN OIL IMPORTS BUT OF
COURSE HE MADE NO PLANS TO BOOST
DOMESTIC PRODUCTION, MIKE.
IN A STATEMENT YOU WRITE THIS.
WE URGE POLICY MAKERS TO ADVANCE
AMERICAN ENERGY LEADERSHIP AND
EXPAND DOMESTIC PRODUCTION TO
COUNTER RUSSIA’S INFLUENCE IN
GLOBAL ENERGY MARKETS.
WITH HAVEWE HAVEYOUR STATEMENT H
LET ME BRING DAGEN McDOWELL IN
ON THAT POINT.
GO AHEAD, JUMP IN.
DAGEN: I WAS WRITING THAT THE
CASS AT THISCASTIGATOR IN CHIEF,
BY SUPPORTING OUR PROSPEROUS
ENERGY SECTOR, HE HAS HIS HANDS
AROUND THE NECK OF ALL AMERICANS
BUT HIS POLICY, BECAUSE HE WILL
NOT HELP INCREASE PRODUCTION
HERE IN THE UNITED STATES IS
PRO-PUTIN, IF YOU WILL.
AND I DON’T UNDERSTAND WHAT IT’S
GOING TO TAKE TO CHANGE THIS
DANGEROUS IDEOLOGY COMING OUT OF
BIDEN, INCORPORATED.
MARIA: WHAT DO YOU THINK, MIKE.
>> LET’S KEEP IN MIND WHAT
HAPPENED YESTERDAY.
WE WEREN’T IMPORTING VERY MUCH
RUSSIAN OIL BEFORE THIS CRISIS.
LAST WEEK, AMERICAN PRODUCERS
ALREADY DECIDED TO CUT OFF
RUSSIAN IMPORTS INTO THE UNITED
STATES.
AGAIN, THAT’S WHAT EIA SAID.
THERE WAS NO DISCERNABLE RUSSIAN
CRUDE COMING INTO THE UNITED
STATES LAST WEEK BEFORE THE
PRESIDENT PUT THIS BAN IN PLACE.
AMERICAN PRODUCERS ARE PATRIOTS.
WE WANT TO MAKE SURE WE’RE
SUPPLYING THE WORLD WITH BOTH
NATURAL GAS AND OIL DURING THIS
TIME OF CRISIS AND WE DON’T WANT
RUSSIAN OIL IN THE AMERICAN
MARKET.
DAGEN: MIKE, CAN I ASK YOU A
MORE.
JUST ONE MORE QUICK THING.
DO YOU NEED TO MESSAGE THE FACT
-- I STARTED SAYING THIS THE
FIRST DAY THAT JOE BIDEN TOOK
OFFICE, THAT OUR ENERGY
PROSPERITY IS ECONOMIC SECURITY
AND NATIONAL SECURITY.
THAT WHEN YOU TRY TO YOU ATTACK
OUR ENERGY ECONOMY, YOU’RE
HANDING POWER AND PROSPERITY TO
NATIONS THAT HATE US AND THIS
WAS PART OF THE REASON WITH OIL
PRICES SKYROCKETING THAT PUTIN
INVADED UKRAINE THE FIRST PLACE.
DO YOU NEED TO DO A BETTER JOB
OF COMMUNICATING THAT TO THE
AMERICAN PEOPLE?
>> AMERICAN OIL AND GAS IS A
STRATEGIC ASSET TO THE AMERICAN
ECONOMY BUT IT’S ALSO A TOOL FOR
OUR FOREIGN POLICY.
AGAIN, IMAGINE IF THE UNITED
STATES WAS STILL IMPORTING 60%
OF THE ENERGY THAT WE NEED AS WE
WERE 10 YEARS AGO.
IT’S BECAUSE OF AMERICAN
INNOVATION, WE SHOULD BE PROUD
OF THE COMPANIES THAT ARE
PROVIDING THE ENERGY WE NEED
BECAUSE IT’S MADE RIGHT HERE IN
THE UNITED STATES AND IT
SUPPORTS ABOUT 11 MILLION JOBS
IN OUR COUNTRY.
MARIA: YEAH.
REAL QUICK, MIKE, I KNOW YOU’RE
AT SARAH WEEK CONFERENCE IN
HOUSTON THIS WEEK, A LOT OF
CEOS, TOP LEADERS IN THE
BUSINESS THERE.
WHAT ARE YOU HEARING FROM THOSE
CEOS, REAL QUICK.
>> WELL, ONE OF THE THINGS THAT
WE’RE HEARING IS, AGAIN, ABOUT
THAT STRATEGIC IMPORTANCE OF
AMERICAN OIL AND GAS.
I THINK THERE’S A NEW
RECOGNITION OF HOW IMPORTANT IT
IS THAT THE UNITED STATES
RECLAIM ITS ROLE AS THE WORLD
ENERGY LEADER DURING TIMESES OF
CRISIS LIKE THIS.
I THINK THERE’S BEEN TOO MUCH
FOCUS OVER THE COURSE OF THE
LAST MANY YEARS ON DOWN-PLAYING
THAT IMPORTANT ROLE.
WE NEED TO RETURN TO THAT
POSITION.
MARIA: WELL, YOU NEED
LEADERSHIP IF THAT’S THE CASE.
MIKE, THANKS VERY MUCH.
MIKE SOMMERS JOINING US THIS