Oil and gas execs rip Biden for treating industry like an 'enemy'
Biden’s pursuit of Venezuelan oil is ‘insulting,' North Dakota Petroleum Council president argues
Biden needs to ‘stop treating’ gas industry like ‘an enemy’: Oil exec.
Tim Stewart and Ron Ness provide insight into oil and gas trade groups sending a letter to President Biden to offer with helping lower prices at the pump.
Oil and gas executives blasted President Biden for treating the industry like an "enemy," as prices at the pump continue to skyrocket.
U.S. Oil & Gas Association President Tim Stewart and North Dakota Petroleum Council President Ron Ness told "Cavuto: Coast to Coast," Wednesday that they’re working with oil and gas trade groups and sent a letter to President Biden to offer with helping lower gas prices.
"That was the purpose of our message to the administration last week is there's common ground which we can meet on. But the first thing you have to do is stop treating the U.S. oil and gas industry as if it is an enemy to the American people," Stewart remarked.
OIL PRICES REBOUND AS STOCKPILES DROP
The oil and gas executives said they worked with 10 oil and gas trade associations to pen a letter to the president and discussed the benefits of oil production in America over pursuing it from other countries - such as Venezuela or Saudi Arabia.
"It's very insulting to us that we look at Venezuela to increase oil production. The country of Venezuela today produces 800,000 barrels of oil a day. The state of North Dakota produces 1.1 million," Ness emphasized.
Biden’s pursuit of Venezuelan oil is ‘insulting’: North Dakota Petroleum Council president
U.S. Oil & Gas Association President Tim Stewart and North Dakota Petroleum Council President Ron Ness discuss the benefits of oil production in America instead of pursuing other countries.
The North Dakota Petroleum Council president continued to say with better policies and investment in climate, America can increase oil production in the country, which will help the U.S. economy by adding jobs and will "truly help" our allies amid the Russia-Ukraine war.
Stewart noted that the White House believing that Venezuelan crude oil is better than crude in Wyoming or North Dakota is a "false narrative" that the industry is "struggling" to change.
He also suggested that the White House can "send a clear message to Wall Street" and say it’s okay to invest in the oil and gas industry in the United States.
Oil tanks and chart on laptop 3d rendering for petroleum content. iStock / Joe Biden: Getty Images
"The reality is...the Biden administration and its allies in Congress did nothing to address this crisis as it was unfolding while we were warning them of that… and in fact, they actually were accelerating the crisis," Stewart stressed.
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Ness added that oil and natural gas are the "backbone" of the U.S. economy and that Biden could reverse energy policies.
"This president could change the price of gas tomorrow if he would come to the podium and announce that his administration is changing direction. He’s directing his federal agencies to work with industry-approved permits, approved pipeline projects…urging the financial sector to invest in oil and gas…grow production in America…this is limiting our ability to grow" Ness added.
Oil prices were higher in early Asian trade, on reports that support for a European Union-wide ban on the purchase of Russian oil is growing inside the bloc. (Reuters / Reuters Photos)
Ness asserted that it didn’t take a "rocket scientist" to understand that oil demand was going to increase once the coronavirus pandemic started to slow down, and now America is faced with a difficult "situation."
"America's oil and gas industry stands ready to help. But every day you wake up, and the federal government is going after you, targeting you, discouraging investment and discouraging workers," Ness stressed.
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"Those things diminish the willingness of the industry to be able to ramp up, and it doesn't happen overnight. It's a big industry. It takes a long time to get these permits, these processes in place to increase production…"
"But we can do it in America," he concluded.