Source: United States Senator Kevin Cramer (R-ND)
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WASHINGTON – U.S. Senator Kevin Cramer (R-ND), member of the Senate Environment and Public Works Committee, joined Larry Kudlow on Fox Business to discuss President Biden’s decision to release 180 million barrels of oil from the Strategic Petroleum Reserve. Excerpts and the full video are below.
On Oil Releases from the Strategic Petroleum Reserve
“Larry, there’s a really big one called the Bakken. It’s a great big reserve that can be used without having to spend any federal money. Just get the government out of the way and we will empty those reserves for the good of the country and the security of the world.”
“We have the technology, the know-how, and the resource to do all of this. Frankly, [releasing] one million barrels a day out of the [Strategic Petroleum Reserve] for six months only further disincentivizes the producers – who are the real heroes that could help bring supply up and price back down. It makes zero sense what [Biden] is suggesting.”
On Biden’s Energy Permitting Obstacles
“This is the gross dishonesty of this Administration. Not to mention, he’s even fundamentally wrong in the leases. There are right now 2,200 leases in litigation. The only thing a liberal loves more than regulation is litigation. In addition to that, 75% of the leases are being used. Then you have permitting [challenges]. Just one example, the timeframe for getting an Application for Permit to Drill on federal lands and getting that permit has more than doubled since Biden became president. In fact, they moved the decision away from places like Dickinson, North Dakota and Billings, Montana all the way back to Washington, DC so the Administration itself can oversee these permits. Clearly, [the Biden Administration has] an interest in keeping the price high so people buy all those electric cars out there. Wait a minute, there aren’t a bunch.”
On the U.S. – EU Energy Framework
“Here’s the tragedy: these are very capital intensive infrastructure buildouts whether it’s export terminals, import terminals, pipelines, beyond that, of course, the ships need to be available. Right now there are four terminals, waiting for approval at the Department of Energy. Getting those permits done would be some of that certainty investors need. But you need more than six months of certainty.”
“I want to get to the issue of greenhouse gas emissions, LNG produced in the United States of America and shipped overseas to our European friends who have very high environmental standards is much cleaner – nearly 50% cleaner – than the natural gas they’re buying from Vladimir Putin right now.”
On All-of-the-Above Energy
“We had a president who did that once. By the way, when Donald Trump was president, not only were we independent and really energy secure and dominant, but Vladimir Putin didn’t try to invade Ukraine either. I think there’s a lot to be said here for the type of leadership under the previous Administration.”