Oil and gas exec slams Biden’s energy policies, warns ‘will

compound problem’ amid crises

"When we're in a crisis like this, will this policy do anything to increase
production? And the answer is no."
U.S. Oil and Gas Association President Tim Stewart tells ‘Cavuto Live’ that the
Biden administration’s energy policies will increase the oil crisis.
U.S. Oil and Gas Association President Tim Stewart joined "Cavuto
Live" Saturday and warned that the Biden administration’s energy policies will
increase the oil crisis and "compound the problem."
TIM STEWART: I realize that the Secretary of Interior is very much on message
with the rest of the Biden administration…which is we all pay 50% more for 80%
less…she was very clear that's what she was going to do for those oil and gas
operators who were interested in doing work on federal lands, that we should be
prepared to pay about 50% more in royalties and other fees that we already pay.
At the same time, we're only going to have access to about 20% of the current
acreage that we have put forward to the secretary as potential oil and gas
opportunities for us. 
It goes to this fundamental question of when we're in a crisis like this, is this
policy, will it do anything to increase production? And the answer is no…actually
it will compound the problem. We have a short-term production shortfall right
now. The Secretary's actions that she announced yesterday will push this problem
out three, five, seven, 10 years.