Karr Ingham - President, Texas Alliance of Energy Producers Joins Houston's Morning News

Episode Transcript

Speaker 1 (00:00):
Ok six fifty three.

Speaker 2 (00:01):
Now.

Speaker 1 (00:01):
Car Ingham is the president of the Texas Alliance of
Energy Producers. Car good morning, thanks for the time, Mob.

Speaker 2 (00:09):
Good morning to you. How are you big?

Speaker 1 (00:11):
We're good, Thanks very much. I'm really good when I
hear stories like this, Promises made and promises cat. President
Trump talked about restoring America's energy independence in a big move.
Some announcements were made on Wednesday by the Energy Department.

Speaker 3 (00:23):
What can you tell us, well, the big announcement this week,
I think, was that the President of this administration, announced
by the Secretary of Energy, are putting barrels back into
the Strategic Petroleum Reserve. This is a store of crude
oil that the United States of America designated decades ago
to keep on hand in case of a supply emergency.

(00:47):
And by supply emergency, I mean a supply shock of
some sort. This could be a major weather event, this
could be a major geopolitical event that disrupted supplies of
crude oil flowing into the United States. And by the way,
we import much less crude oil than we used to.
But this strategic patrolum reserve was drawn down I thought

(01:10):
extremely improperly by the Biden administration drew it down to
historically low levels, really for the purpose of pushing prices
of gasoline and other products down in an election year,
which is twenty twenty two. And now the President is
adding barrels back into that strategic patrolum reserve, buying those

(01:31):
barrels from US producers, and by the way, getting that
i'm a bit of a discount now because prices are
lower in twenty twenty five than they were in twenty
twenty four.

Speaker 2 (01:43):
Yeah.

Speaker 1 (01:43):
I recall a lot of people in your position and
those who were in the know, how incredibly irresponsible it
was for President Biden to do this simply to try
to control gas prices that had spiked only because of
their energy policies in the first place, Putting gas national
average at one point twenty twenty one, I think, or
was early twenty twenty two, it over five dollars again,

(02:04):
I think five dollars in one penny per gallon nationally,
and they had no way to bring them down, so
they just went ahead and tapped into the reserve, putting
us in quite frankly danger.

Speaker 2 (02:13):
Right, Well, that's exactly right.

Speaker 3 (02:16):
I mean, you just don't want to get caught flat
footed with an event that would occur that the Strategic
Practorium Reserve was designed to mitigate against for US consumers.

Speaker 2 (02:30):
And you're exactly right.

Speaker 3 (02:32):
I mean, it is true that COVID made a mess
of things. It made a mess of markets in virtually
every sector of society, and well, I guess being one
of them. But this was in twenty twenty two, and
we did have price increases, We had Russia invading the
Ukraine early in the year, and again one of those

(02:53):
geopolitical events that you know, we're trying to guard against
the with the Roum Reserve, and so most of us
just thought, let markets do what they do. Let prices
incentivize Texas and US producers to produce more and bring
it to the marketplace. That's what we do extremely well,

(03:15):
and we do it better in Texas anywhere else. Let
markets play out and bring production back it up, and
leave that for Drolling reserve alone.

Speaker 1 (03:24):
Yeah, probably didn't didn't help matters when he was promising
all of these ev mandates weren't going to be any
more you know, gasoline powered engines and so forth, whether
you know, whether it be lawnmowers or or anything else
of that matter. So the futures. Of course we were
affected by that as well, so it was really really irresponsible.
And then that that strategic reserve got depleted and now

(03:46):
it is time to refill it. So President Trump is
taking great steps in that. In that regard, car Ingham,
President of Texas Alliance of Energy Producers Kart, thank you
so much. I appreciate it.

Speaker 2 (03:55):
God bless her. Thanks Bob. Good to talk to you
this morning.