OKLAHOMA’S ENERGY SECTOR / From the desk of Tom H. McCasland, III
In a 2019 pledge, Joe Biden vowed to end fossil fuels, a stance now manifesting through numerous policies detrimental to the oil and gas industry, critical for Oklahoma’s economy. The Institute for Energy Research highlights over 150 Biden administration actions against fossil fuels, exacerbating energy costs nationwide and undermining Oklahoma’s economic stability and job market.
Oklahoma Attorney General Gentner Drumond stands as a beacon of resistance against these federal encroachments, challenging the administration’s overreach and defending our state’s energy sector. His efforts merit commendation as they align with the interests of Oklahoma’s small business oil and gas producers, who must diligently control their costs to profitably extract Oklahoma’s oil and gas. The Biden administration’s federal overreach on regulation combined with their limiting access to drilling is an insidious but effective “Death by a Thousand Cuts” strategy to end fossil fuel exploration and production. General Drummond is doing his part to put a serious dent in this scheme.
However, Oklahoma’s response to these federal policies is not uniformly assertive. Governor Stitt’s administration, influenced by his Energy Secretary Ken McQueen (former Region Six EPA Administrator), seems to be promoting the Biden administration’s “green new deal” agenda by pushing the same methane regulations General Drummond is legally challenging. Such alignment is also evident in state-level initiatives that echo Biden’s punitive environmental regulations, threatening the viability of local oil and gas operations and ignoring the nuanced balance between energy production and environmental stewardship.
A particular point of contention is the state’s stance on marginal wells. These wells, a cornerstone for many small producers, hold future potential for technological advancements and price recoveries. Labeling them as mere liabilities for expedited plugging overlooks their value as reserves, integral to Oklahoma’s economic and energy future.
As the state benefits from the boom in horizontal drilling, it’s crucial that policies reflect a balanced perspective, recognizing both environmental responsibilities and the economic backbone provided by the entire energy sector. The Attorney General’s legal challenges against federal overreach should serve as a model for state policy, advocating for a framework that supports Oklahoma’s energy independence while ensuring environmental integrity. It’s imperative for Governor Stitt to recalibrate his stance, embracing a policy direction that fortifies our energy sector, safeguards jobs, and nurtures our state’s natural resource wealth.
All of Oklahoma’s energy producers, both large and small, are integral to our state’s prosperity. Their success translates into state revenue, job creation, and energy security. As such, their interests and concerns deserve a prominent place in our state’s policy decisions.
In conclusion, it’s vital for Oklahoma to chart a path that respects our unique economic landscape and energy heritage. We urge Governor Stitt to align more closely with Attorney General Drumond’s efforts, thereby ensuring a robust future for Oklahoma’s energy industry, one that harmonizes economic growth with environmental prudence.
