Wednesday, December 15, 2021

Rep's bill: Increase O&G production

U.S. Rep Steven Palazzo (R-Miss.) introduced a bill that would increase production of oil and gas when the Strategic Petroleum Reserve (SPR) is tapped. The Strategic Production Response Act (HR 6167) would prohibit the energy secretary from dipping into the SPR for reasons other than a severe energy supply interruption until the Secretary of Interior issues a plan to increase oil and gas production on federal lands and waters. In November, President Biden announced that DoE would release 50M barrels of oil from the SPR in an attempt to reduce skyrocketing fuel prices. That order didn't include a plan to increase energy production. It is a "desperate attempt" to reduce fuel prices "due to the President’s failed policies," the Mississippi Republican said. Palazzo is a former oil rig worker. In an attempt to cut back on the use of foreign oil, "domestic production of oil, natural gas, and clean coal will need to increase." The bill, he said, would drive energy independence and "protect Mississippian’s wallets at the pump,” said Rep. Palazzo. The legislation is the House's companion to Senate Bill 3287. (Source: Super Talk Mississippi 12/14/21)

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