"The U.S oil and gas industry is seizing on the market turmoil sparked by Russia’s invasion of Ukraine to demand the Biden administration take steps to encourage more drilling.
Industry executives and their allies on Capitol Hill are citing the war in a push for long-sought policy goals such as pipeline approvals, expanded exports of natural gas and more drilling rights -- even as the White House says companies aren’t making full use of the permits they already have.
“In a time of tight markets for oil and natural gas and geopolitical unrest, American energy serves as a strategic asset and stabilizing force for global energy security,” American Petroleum Institute president Mike Sommers said in a letter Monday to Interior Secretary Deb Haaland. Sommers warned against “unwarranted delays in federal permitting and leasing of American energy.”
Environmentalists dismissed the efforts as a ploy."
Ari Natter and Jennifer A Dlouhy report for Bloomberg March 1, 2022.