E&E News: “What Biden’s Oil Record Means for the Industry’s Future”
RFF Fellow Daniel Raimi shares his expertise about the American West’s energy transition.
“Growth in oil and gas production on federal lands in recent years has been dominated by production from New Mexico’s Permian Basin,” said Daniel Raimi, a fellow at Resources for the Future, an energy-focused nonpartisan group.
New Mexico production has been so strong that it’s offset a drop in other states. Gulf of Mexico oil drilling has also contributed to the rise in production, said Raimi.
Despite Biden’s promises to rein in oil development on public lands, there wasn’t much the president could do about the New Mexico boom, considering that drillers bought their rights before Biden entered office.
“There are fewer policy mechanisms the administration can use to reduce production on those lands,” Raimi said. “In Alaska or the Gulf of Mexico, where many leasing opportunities remain, the administration can take action to reduce future production by restricting leasing. But in the Permian, it’s a different story.”
