GOP Sen. Marshall: Biden Canceling Leases Hurts Investment in Energy by Creating Uncertainty and Empowers OPEC

On Thursday’s broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” Sen. Roger Marshall (R-KS) stated that the Biden administration canceling oil and gas leases creates uncertainty that prevents investment in domestic energy production, and this will be taken advantage of by OPEC.

Marshall said, “The oil patch needs certainty. For us to go out and invest hundreds of millions, billions of dollars, we need certainty. So, we’ve empowered OPEC. This is all because of the results of Joe Biden’s policies, and yes, OPEC’s going to take advantage of this. That’s what businesses do. When you can control this much of the market, when America has our hand out begging for oil right now, this is where we are today.”

He added, “We can solve this problem [ourselves] if the Biden administration would give us certainty, the certainty we need, to get — to call the EPA watchdogs off on us a little bit, quit teasing us with the opportunity to buy more leases, and then taking away from us as well.”

Marshall concluded, “[T]his is the uncertainty that they’re creating. … We can’t go out and find people to give us millions of dollars to invest in something as big as this drilling in Alaska would take. So, they tease us with it, they take it away from us. And you waste all this time on permitting and then the EPA stops you at another step. So, this administration has done an incredible job of creating the uncertainty and stymieing American energy.”

Follow Ian Hanchett on Twitter @IanHanchett


Please let us know if you're having issues with commenting.