On Wednesday, President Trump traveled to Midland, Texas to sign 4 Presidential Permits to ensure the Energy Sector remains independent from foreign producers. The permits will cut regulations, simplify permitting, and encouraging private investment in energy infrastructure. The White House said that President Trump "understands the unnecessary constraints on our energy production, from aging infrastructure to burdensome permitting and regulatory overreach, which ultimately limits job growth and increase costs for American’s hardworking families".
The President addressed the Democrats push for the Green New Deal, "We’re here to send a clear message to the zealots, radicals, and extremists trying to shut down your industry and to make America subservient to foreign producers. That won’t happen to this nation again". He continued, "Thanks to the hardworking citizens like you, the United States of America is now the number one energy superpower anywhere in the world. So, congratulations".
The President explained the reason for withdrawing from the Paris Climate Accord, "I withdrew from the one-sided, energy-destroying Paris Climate Accord. It was a disaster. It cost us billions of dollars, and it would have made us a noncompetitive nation". He added, "Under the last administration, America’s energy industry was under relentless and unceasing attack. You know that. But the day I took the Oath of Office, we ended the war on American energy and we stopped the far-left assault on American energy workers".
Under the Trump administration, the United States has increased oil production by 3.1 million barrels per day. The President continued, "To ensure we maintain this dominant position long into the future — we will never lose this position — my administration is announcing today that export authorizations for American liquefied natural gas can now be extended through the year 2050. I will sign four critical permits, granting approval to vital pipeline and railway infrastructure on our nation’s border. That’s a big deal. This will include two permits allowing the export of Texas crude to Mexico — a giant victory for the workers of this state that you’ve been after for many years".
Senator Ted Cruz (R-TX) was there to witness the signing of the Presidential Permits. He stated in an opinion article to the Midland Reporter-Telegram, on July 28th, "Just a few months ago, before the deadly coronavirus pandemic brought our booming, blue-collar economy to a halt, the United States was the No. 1 producer of both oil and natural gas on the planet, surpassing both Russia and Saudi Arabia in crude oil production, and we had become a net exporter of natural gas. And although it didn’t make many headlines, increasing natural gas production had resulted in the United States leading the world in reducing carbon-dioxide emissions, while providing affordable energy to all Americans". He added, "Then the pandemic hit, and as we’ve worked to slow the spread of coronavirus, flight restrictions have grounded planes and stay-at-home orders have taken many cars off the road, causing the demand for oil to plummet. The decline in both price and demand created a perfect storm for the energy sector. As the Wall Street Journal put it, 'since the new coronavirus hit, the world’s thirst for oil has vanished, creating an unprecedented crisis for one of the planet’s most powerful industries.' To make matters worse, Saudi Arabia and Russia exploited the pandemic to flood the global oil market, drive down prices, and drive their competitors — U.S. producers — out of business. In antitrust law, these actions could be considered predatory pricing. And it was nothing short of economic warfare".
Cruz mentioned that he tried to work with Congress to pass legislation during the coronavirus but was met with pushback from the Democrats. "I worked with my colleagues to introduce bipartisan, bicameral legislation to provide $3 billion in funding to purchase crude oil produced in the United States for the Strategic Petroleum Reserve. He added, "but it was cynically blocked by Democratic leadership in the House and Senate at the last minute. Meanwhile, Democrats, including former Vice President Joe Biden, think it’s a good idea for Congress to pass the Green New Deal, which would decimate the energy industry and cost each American family roughly $65,000 a year at a time when more than 40 million Americans are out of work".
Cruz concluded, "Now, more than ever, it’s time to champion America’s energy independence, protect our national security, spur economic growth, lower energy costs, and support the hundreds of thousands of blue-collar workers across this country whose livelihoods rely on a vibrant energy industry".
You can view the entire speech and signing ceremony here.
