According to Investopedia, Oil and gas are responsible for more than 60% of Russia’s exports and provide more than 30% of the country’s gross domestic product (GDP). That’s a lot.
How can the US best push back against what amounts to a petro-state? Radical environmentalists seem to think that pushing EVEN harder toward “green” energy is realistic and will loosen Russia’s grip. Of course, countries like Germany that have gone down that path suffer from some of the highest electricity prices on the planet and even if 100% of electricity generation in Europe was “renewable” or even nuclear, McKibben fails to realize that oil is primarily used in transportation, not electricity generation.
An alternative would be to bring down the price of Russia’s leading source of revenue to put pressure on their economy. This idea has the additional benefit of having worked in the past.
Here are some specific ideas that would have two salutary benefits: 1) Boosting the US economy/Relationship w/ Europe and 2) reducing global energy prices.
- Move aggressively to open the Keystone XL pipeline;
- Reopen federal lands to drilling and oil/natural gas exploration, including ANWR. Revoke Biden’s order banning oil/gas leases in the Outer Continental Shelf;
- Aggressively work to eliminate unnecessary regulations on the US energy industry producers and refiners;
- Work to bring new energy sources to Europe in an effort to replace Russian sources.
Of course, all of this has the ADDITIONAL benefit of benefiting New Mexico’s economy. As New Mexico Congresswoman Yvette Herrell recently wrote, the Biden Administration has dramatically slowed leasing on federal lands (an issue of special interest to New Mexico) in the wake of a judge’s ruling tossing out the moratorium on such leases.
HT: South Dakota Gov. Kristi Noem
3 Replies to “Help Ukraine, Help New Mexico “Drill Baby Drill””
It is time for the United States to be Energy efficient , no longer dependent on Russian or Iranian oil. Give New Mexico and Texas a chance to make a difference! Release Federal Land and let us Drill!!!!
It’s difficult to understand the Biden Energy policy, all the Restriction’s on American Oil and gas, while Biden buy’s Russian oil to help fund the Russian war effort. Weak sanction’s, I could see the Biden administration debating the latest Russian land grab, is this a Incursion or Invasion? Hmmmmm
The U.S.A. has had a ban on the export of oil and gas for years because it is a non-renewable resource and we are in a decline in provable, cost effective reserves for the long term. It was lifted by Obama and kept on by Trump. It needs to come back.
We do not need to be stupid and waste our output to other nations simply for bigger corporate profits.
We also need to realize that those profits in part are generated by the suppressed for decades federal royalty rates and even the New Mexico State Lands failure similarly to have royalty rates equivalent to even Texas .
Where is my New Mexican Alaskan styled annual revenue check? Gone in bigger CEO compensation and Congressional campaign contributions to our representatives in Washington D.C.