The Biden administration is “eager to work with” the oil and gas sector, Energy Secretary Jennifer Granholm said this week, according to Bloomberg Government (subscription).
What’s going on: Granholm told oil and gas executives Wednesday at a National Petroleum Council meeting that she “recognizes fossil fuels will be around for a long time. . . .”
- “We are eager to work with you. . . . Moving too fast could have unintended consequences that hurt people, cause backlash,” she said.
- She also noted that “fossil fuel production will need to increase in the near future to meet growing demand, including a shortage of diesel in the Northeast U.S.,” according to Bloomberg.
The context: The remarks are in stark contrast to some of the policies backed this year by President Biden and his administration, including a “windfall” tax on oil and gas profits and a moratorium on federal-lands energy production.
The NAM’s take: “Manufacturers continue to experience rising energy prices,” said NAM Director of Energy and Resources Policy Chris Morris. “We are hopeful that Secretary Granholm’s comments today reflect a shift from blaming domestic energy producers for rising prices to an energy agenda that embraces an all-of-the-above policy mindset.”
- “By bolstering domestic energy production, including via critical permitting reform that will strengthen the competitiveness of manufacturing overall, we can enhance U.S. energy security and begin to ease the current stress on energy markets.”