Episode Transcript
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Speaker 1 (00:01):
Welcome to the nationally syndicated Energy Mix Radio Show produced
by the Energy Network Media Group. The Energy Mix Radio
Show will give you an inside look at the energy
industry and how it affects you by talking with industry leaders, experts,
and government officials on the Energy Mix Radio Show.
Speaker 2 (00:17):
And Welcome to the Energy Mix Radio Show. I'm your host,
Kim Ballato, and today I am thrilled to have you
join us today as we dive into the latest in
the energy sector. My lineup today, I'm starting with a
very special guest, and Bradbury, who has been a guest
on the show before. She is the CEO of American
Expiration and Production Council that are known as AXPC and
(00:39):
brings a wealth of knowledge and insight in the oil
and gas industry and I can't wait.
Speaker 3 (00:46):
To talk to her.
Speaker 2 (00:47):
So sit back, let's talk a little bit about the
state of the future of energy and Bradbury, welcome back
to the Energy Mix Radio Show.
Speaker 3 (00:56):
Thanks Ken, It's great to see you and great to
see with you today.
Speaker 2 (01:00):
Before we get started, can you give our listeners a
little bit of background on you AXPC? What makes you
different than other organizations that are out there too that
are advocating on behalf of the energy sector and helping
our elected officials understand more energy policies before we jump
into the show.
Speaker 3 (01:21):
Absolutely. So, AXPC is a trade organization based in Washington,
d C. And we represent about thirty of the leading
upstream energy producers. Collectively, our members produce about half of
all the oil and natural gas in the country, and
we're located in every major basin across the country, and
(01:41):
we advocate and educate policy makers around the nuts and
bolts of energy production and advocate for sound federal policy
that enables robust energy production while also being environment only protective.
So just common sense energy policies that help support our industry.
Speaker 2 (02:08):
Yeah, and you know, it's I've been reporting on energy
for about thirteen years now and I have seen probably
four three or four administrations. And of course when we
talk about the greatest commodity that we need to sustain life,
which is oil and gas, it's constantly in flux because
(02:31):
there's so many things that affect energy prices. When we
look at what is the price for per barrel, when
we look at global situations, geopolitical situations, everything has an
impact on energy. And so having groups that really understand
represent their members of the members are the energy folks
(02:53):
that are actually putting out this commodity is vital. And
here we sit in twenty twenty five with a new administration.
One we have seen before but was a little hamstrung
with a lot of Democrats. Now we see something entirely different.
We see that the Republicans control the House, the Senate,
(03:15):
and the White House. And so first things first, how
do you foresee the Trump administration's policies impacting the oil
and gas industry? Is it going to be so significant
that we'll see energy policies change, you know, in the
coming years? Do is you really just have two years?
What are your members telling you? What do you feel
(03:38):
is the most important thing we should be watching out
for with the Trump administration?
Speaker 3 (03:41):
Yeah, so you're asking a big question, and we could
spend you know, most of this, you know, whole hours
kind of unpacking it. So here's what I'll say. First,
you know, the Biden administration was one of the most
aggressive administrations you know, in history, frankly and iss you'd
more at anically significant rules and we've seen in many decades,
(04:04):
maybe ever, and so unwinding that is certainly a priority
of the Trump administration, and energy policy is really front
and center also for the Trump administration. So I think
you'll see a pretty aggressive deregulatory agenda coming out of
the EPA and other federal agencies. But I do think
(04:28):
that right now they're in the process of reviewing are
we going to take a scalpel approach to this or
a sledgehammer approach? Is this going to be a total
undoing or just a fixing? And you know, I think
that you know, we have, you know, some opinions about,
you know, what should be fixed and what should be undone,
but a lot of that will take years, as you
(04:49):
point out, So I think you'll see the signaling, you know,
on day one about what their priorities are and what
direction they want to go in. But it really takes
years to un and do what has been put in
place over the last four years. So it's going to
take some time. And on the congressional side, as you
point out, there's unified Republican control, very narrow and so,
(05:13):
you know, but energy is a unifying issue for a
lot of Republicans, and so again I think on the
legislative side, you'll see a focus on energy as well
through things like the Reconciliation bill that they're going to do,
where anyway we can talk more about some of those details.
(05:33):
But I do think energy will be a big focus
and we'll see some significant policy changes over the next
two and four years.
Speaker 2 (05:41):
Okay, that is piquing my interest a little bit more
to drill down into. There are some really key associations
when we talk about oil and gas and energy.
Speaker 3 (05:51):
And how.
Speaker 2 (05:54):
The views can differ from associations that represent integrated or
large energy companies versus independently owned The needs are very
they are the same, but sometimes they're different too. So
I want to switch gears and roll into some of
the choices that President Trump has made as of right
(06:16):
now and get your feeling on are these goods selections?
Are they knowledgeable selections? And maybe you don't want to
go that far as saying I don't like them, where
I do, but maybe you do. But just what are
some of the things that you guys are keeping your
eye on. Let's start with what are your thoughts on
Trump's choice for a Department of Energy, Chris Right of
Liberty Energy. How are y'all feeling about that selection?
Speaker 3 (06:39):
That famination? Yeah, we are so excited about all of
President Trump's energy related nominees thus far. So Chris, right,
I'm sure, is a pretty similiar name to most of
your listeners of Liberty Energy and just an incredible depth
of knowledge of not she's the oil and gas you
(07:02):
know who I represent, but really of all energy sources
across the board, and having that deep knowledge and passion
for the industry I think is going to be incredibly important.
And that's an agency that oversees a lot of the
United States international engagements related to energy. They oversee LG
(07:23):
export approvals, and they have a really broad remit when
it comes to energy policy. So we're thrilled to have
Chris Write poised to take the helm of the Department
of Energy.
Speaker 2 (07:35):
Let's talk about Congressman Lee Zelden, who is the lead
for PICK or an environmental protection agency, the EPA. What
are y'all's thoughts. We know that he's been an ally
of President Trump's for a long time. He served the
New York District for in twenty fifteen to twenty three,
and then he ran for New York's governor twenty twenty two,
(07:56):
So there's a lot of I would say being an
elected official for a long time understanding how this works.
But also he's had a strong stance on saying he
wants to roll back regulatory overreach and things like that.
So what are you what is your opinion on Congressman Zelden.
Speaker 3 (08:16):
Yeah, so I had the good fortune of overlapping with
Congressman Zelden when I worked on the Hill, and you know,
he's a well respected and really bright member. Not someone
with you know, the energy background that Chris Wright has, certainly,
but he's a lawyer by vocation. You know, he is
very supportive of, you know, President Trump's vision on energy
(08:40):
policies in general. And so I think, especially with his
legal background, one of the things that he'll bring to
the role is the ability to ensure that the Trump
Administration's policies will will withstand legal durability as well. As
you know, a lot of these things are litigated, they
end up in court, and it's not good for the
industry when there's a lot of back and forth and
(09:01):
boomeranging policies. And so one of the things that we
as an organization are advocating for is durable policies. And
I think having someone like Lee Zelden at the helm
of the EPA will be really helpful for that.
Speaker 2 (09:15):
Tell me a little bit about your thoughts on Doug Burgham,
who is an Interior secretary. Yeah, but you'll bring in
to make a change in the energy yeah scene sector.
Speaker 3 (09:26):
So maybe not quite as well known as Chris Right,
but governor of North Dakota, so is certainly anyone that
operates in North Dakota will be very familiar with Doug Burgham.
He is again a passionate advocate for industry and you know,
has been great for North Dakota operators. He's also been
a huge advocate for c the US in his state
(09:49):
and for carbon capture, and North Dakota is a leader
in carbon capture, and so he's got real environmental credibility
as well. You know, he's got a tech background and
you know, just so brings the deep breadth and depth
of knowledge on both the energy side but also the
business side. And you know, Interior overseas all of our
(10:10):
federal lands, federal permitting. Under the Biden administration, they've effectively,
you know, leasing new land has been been negligible, and
so we're excited to see a bit of a resurgence
in leasing a Federal Lands under soon to be Secretary
Burghram and his leadership.
Speaker 2 (10:32):
You know that's that being said, these three different selections
for EPA, Interior Secretary, and DOE. Have you in your
time in the energy sector ever seeing such a thing
where there's really great nominees coming together. Basically are understanding
or willing to learn quickly about the energy sector to
(10:54):
make Americans energy energy dominance. As President Trump likes to say, reality,
what do you think about all of these coming together?
Speaker 3 (11:05):
Again? We're really excited about it. We've had great nominees
in the past, certainly, but I will say, you know,
across the board, you know, these are incredibly strong and
talented individuals who I think will also work together well
because a lot of these policies really go hand in hand.
And as you know, energy, you know, the energy industry
(11:27):
isn't siloed and policy shouldn't be either. So I'm also
hopeful that they'll work together really well to have a
really thoughtful and comprehensive approach to energy policy. Well, and
we're going to.
Speaker 2 (11:39):
Take a quick break, but when we return, I want
to get on the topic today's show. I hope that
we can cover a lot of the Trump administration, what
you feel, what your members are saying, What is the
energy polls out there on a lot of the transitions
that we're going to see going through this Trump through
the Trump administration. But when we return, I want you
(11:59):
to let's drill down into the challenges and the potential
benefits of the oiling GUS sector that they might face
under the Trump administration. But we are planning on covering
a lot of the energy sector with the Trump administration changes,
good bad, federal lands, offshore, everything's on the table. But
we've got to take a quick break. You're listening to
(12:19):
the Energy Mix radio show. We'll be right back.
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Speaker 2 (13:02):
And we're back. You're listening to the Energy Mix radio show.
My guest today is Anne Bradbury, the CEO of American
Exploration and Production Council, better known as AXPC. And let's
jump back into the Trump administration. Everybody, I think is
very excited for what twenty twenty five holes, especially if
(13:23):
you are in the energy sector. So can you elaborate
on what you feel the potential benefits and if there's
any challenges that you see, specifically pertaining to the oil
and gas sector that the industry might face under a
Trump administration.
Speaker 3 (13:41):
So I think from day one what we'll see is
some early executive orders, which some of which will have
real impact right away. For example, the lifting of the
LG pause we expect as a day one action out
of a Trump administration. Now that being said, there may
still be some work to do on the LA Export
Approval study, but the lifting of the pause I think
(14:04):
is something that would happen right away because that's an
executive action and it doesn't need sort of additional rulemaking
time frame. Beyond that, I think you'll see some executive
orders that give direction to the agencies on what regulatory
approaches to follow when it comes to methane regulation, for example,
(14:30):
or federal leasing out of DHY. And so those day
one actions are really sort of instructions to the agencies
on how to proceed with some of these policies moving
forward that might take a little more time and process.
Speaker 2 (14:47):
And because our show is really for the average Joe person,
explain again the L and G pause. Why did the
Biden administration put it on a pause and how important
was it and how important is it to get this
undone for I guess being able to provide our allies
(15:08):
Europe and other countries natural liquefied gas and making sure
that they have enough of what they need. So talk
to us a little bit about what happened with the
energy pause.
Speaker 3 (15:19):
Yeah, great question, so Ellen, for Ellen, for loquified national
gas energy to be exported, it has to go through
a step that crude oil doesn't have to go through.
It has to go through an approval process at both
FIRK and at DOE. And so DOE is the sort
of unique piece here. And about a year ago, the
(15:39):
Biden administration paused approvals of all new LNG export facilities
and that was impactful.
Speaker 4 (15:50):
Maybe not in the immediate but it put a real
damper on a lot of new LNG facilities that are
coming online and really called into question and the reliability
of LERG of the United States as an energy provider.
Speaker 3 (16:05):
These are, you know, twenty year deals and so any
hint that the United States might not be able to
follow through on its commitment to provide this essential resource
to our allies around the globe was really concerning. And
so the pause is still in effect even though a
judge has technically lifted it. We haven't seen any approvals
(16:29):
out of the Biden administration. We do think that the
Trump administration will lift that pause on approvals and will
move forward with them. There there may be some additional
UH process involved to ensure again that they that they
remain legally durable as well, but what we've heard from
(16:52):
the Trump administration is that they want to get LG
export approvals moving again as quickly as possible.
Speaker 2 (16:59):
Is your opinion, do you see when I look out
on the energy sector and see different administration is coming in?
And of course there is administrations that like oil and gas,
such as President Trump and then President Biden was more
for smaller when we're greener alternatives, and so you see
(17:20):
this changing hydrogen was one. Llen g was one that
was they went through a switching of the roles, if
you will, the different administrations, which leads me to it
always seems as though the energy sector has to go
through vast amounts of changes and quickly depending on who's
(17:42):
in the White House and who's in Congress. And so
we saw the flipping of natural gas policy through the
Biden administration and pro so much billions of dollars was
given to hydrogen. And later on the show, we're going
to get into the inflation reduction app But do you
see it constantly pivoting in some ways that just flip flops,
(18:03):
and how the energy industry has to react quickly to
keep up with policies and recommendations and desires from these
elected officials. What are your thoughts on how quickly you
all have to switch gears and adapt.
Speaker 3 (18:17):
Yeah, yeah, I don't know that it happens quickly, but
I certainly see over the last four years there's been
a preferential treatment for renewable sources, and that you know
from a lot of the left you see sort of
a demonization of oil and gas, and you know, policies
(18:40):
that are intended to kind of, you know, prop up
some of their favored energy sources. You know, the fact
is that the world needs a lot more energy. That
the world is going to consume thirty percent more energy
by twenty fifty than it does right now, and they
need all the world needs all sources of energy, and
(19:01):
so you know, what we want to remind policy makers
is that oil and gas is an essential part of
that future energy mix. You know, but the world again
needs all forces of energy it needs, it needs. Nuclear
should be part of the discussion. Oil and gas should
be part of the discussion, you know, renewables should be
(19:23):
part of the discussion. But we shouldn't be favoring especially
intermittent sources of energy over the necessary energy and base
load energy that oil and gas provides.
Speaker 2 (19:37):
That's why your associations are so important and bile as
you go out and try to help these elective officials
understand what happens when they don't understand how real energy
works and the policies that you all need. Let's take
a quick break. When we return, I want to I
want you to tell us a little bit about your
thoughts on rolling back the environmental regulations and the effect
(20:02):
that you think it would have, and especially public perception
when we talk about a climate change. But we're going
to take a quick break in we'll be right back.
You're listening to the Energy Mix radio show.
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Speaker 2 (21:22):
And Rebecca, you're listening to the Energy Mix radio show.
My guest today is and Bradberry, who is the CEO
of American Expiation and Production Council better known as ax PC.
And President Biden with one of his pillars was climate
change and really trying to look at alternative energy sources, renewables,
(21:47):
and so we saw a lot of his administration rather
it was pushing out money expiation trying to see what
they feel could be solutions.
Speaker 3 (21:57):
And now with.
Speaker 2 (21:58):
President Trump, we see that he has what would appear
a desire to make us more energy and dependent, specifically
in oil and gas. Two totally different opinions considering some
of the selections that he has made for who will
run these agencies that will really dictate the environmental regulations
(22:20):
that will affect the industry's operations and public perception. Tell
me what your thoughts are on how delicate of a
balance will they need to have? Are you guys sitting
at the table to help the administration and the elected
officials kind of not lose the footing that we've made
in positive changes when we look at environmental regulations and
(22:43):
which ones were not necessary, that we're overburdensome, and which
ones really make sense?
Speaker 3 (22:48):
Are there any Yeah, that's a great question, Kim, And
we are advocating for a scalpel, not a sledgehammer approach,
because you know, we're not our advocating to remove all
environmental regulations, right because to your point, not only do
some of them make sense, they also you know, provide
(23:08):
you know, our social license to operate, and a lot
of our end users are international who you know, users
who are also interested in the sustainability footprint of the
energy that they're consuming, and so we want to provide
that transparency and that sort of best in class energy
that we make here in America. So there are some
(23:30):
environmental regulations that absolutely make sense, and so the challenge
now is going to be ensuring that the common sense
regulations that you know, support industry but support our environmental
goals as well, are retained while fixing some of the
(23:55):
pieces that are you know, just totally unworkable or feasible.
And so that's a challenge, you know, I'll also just
remind you know, as you're aware, industry has reduced its
own emissions year over year regardless of who is in
(24:16):
charge of the White House. So there is a very
strong industry commitment to environmental sustainability and to constant improvement
when it comes to our own environmental performance. And I
know that that will continue, and we need to make
sure that we were telling that story as well.
Speaker 2 (24:34):
You know, years back, one of the covers is Show magazine.
What we put on the cover was the Willow Project
because of the lack of being able to get anything
done in long term projects, which is what really happens
in the energy industry, and showing how it was almost impossible,
(24:55):
kind of like the Keystone pipeline. These projects that are
large and linked the scope takes so long, they go
through different administrations, and it's really hard to conduct business
when it's consistently changing. I don't mean consistently in like
day to day, but I'm talking about through the administrations.
So later on in the show, let's talk about reform,
(25:17):
but before we get there, I want to get your
views on this is a perfect example of the administration's
plan to increase oil and gas drilling on federal lands
and offshore areas. So take our listeners back to with
the Bide administration, what was happening with federal lands. A
lot of our listeners in Texas, so they don't really
(25:38):
have a lot of understanding of federal lands like other
states that almost all their drilling is being conducted on
federal lands and then offshore too. Can you talk to
us a little bit about how these kind of got
cross caught in the crosshairs and what do you see
the Trump administration doing to try to get these restarted
(25:59):
or or help them these projects move along.
Speaker 3 (26:02):
Yeah, great question. So what's important about federal lands is
that it is highly regulated by the federal government in
terms of what you know, drilling in production is allowed there.
You need federal permits, you know, and you know which
come from federal leases. So you know, if you're drilling
on private lands, you're you know, less, there's less direct
control over that, but federal lands, you know, there's a
(26:25):
very direct federal agency involvement. And so what we have
seen under the Biden administration is almost negligible leasing of
new federal lands. There's a statutory requirement that the federal
government leases land for oil and gas, and unfortunately, you know,
(26:49):
it was very minimal. It wasn't the desired areas, and
so that was has been a huge concern. About twenty
five percent of all oil and gas produced in the
US comes out of either federal land or waters.
Speaker 2 (27:06):
So it is a significant amount, right, And let's take
a quick break. I'm sorry, we're just in a hard break.
When we come back, we're going to pick up federal
lands and offshore areas. You're listening to the Energy Mix
radio show. Will be right back, and we're back. You're
listening to the Energy Mix radio show. My guest today
is Ann Bradbury, CEO of American Expiration and Production Council AXPC,
(27:31):
and I'm sorry for having to cut you off when
you were talking about federal lands and offshore hardbreaks. Come,
let's get back on that topic. So you said, twenty
five percent of all of the energy produced in North
America is coming from federal lands, and administration was kind
of slow walking any drilling on federal lands. This is
(27:53):
what we covered on Shell magazine. In Shell Magazine when
we talked about the Willow Project because it is on
federal lands and it is taking years to try to
get through and they can't get the necessary permitting. It's
a great article. I highly recommend our listeners to go
and look up show magazine the Willow Project. But let's
go back to the federal lands and offshore. So we
need it. Obviously, twenty five percent of the energy being
(28:17):
produced is coming from these two areas, and it had
been hindered. Please get back on the topic of so
what is the soution here?
Speaker 3 (28:26):
Yeah? So first so so yeah, so federal lands and
water is really essential to domestic energy production. So first
we need to go back to regular and robust federal leasing.
You know, it takes you know, once once an area
is least for development, it still takes years to then
you know, get to the stage of production. So the
(28:49):
best analogy I have is this would be like, you know,
a top college football team not doing any recruiting, right,
like you have to be thinking about that production and
that you know, talent if you well, and where it's
coming from in the next several years. And so you know,
we essentially haven't done any recruiting on federal lands, and
so we need to go back to a robust leasing program,
(29:10):
which is also required by law. Secondly, once you have
a lease, you still need a permit to drill, and
in some areas, in particularly New Mexico, it can take
a year or more to get an approved APD, and
just across the state line in Texas, as many of
(29:31):
your listeners will know, it's really a matter of days
that get you know, you know, they take to approve
an APD. There's an enormous amount of time and work
and thought that goes into this, and a year is
just a pretty you know, unacceptable amount of time. So
once we get back to federal leasing, we also need
to think about permitting and ensuring that those are happening
(29:52):
at a much quicker clip and a much more predictable
clip as well, so that companies can can plan their
operation rations in the way that they do.
Speaker 1 (30:04):
Well.
Speaker 2 (30:04):
You know, we've been talking a lot about the changes
that are going to occur here in North America for
the energy sector, and of course your your remembers will
be affected as well. But what is your role, I
don't know what is your stance? Excuse me on how
you think the United States' role will play on global
energy markets now with this new administration versus the Biden administration,
(30:28):
because we've had a lot of changes. When the Bido
administration was in office, Uh, we had a new war
pop up, which was of course the invasion of Ukraine.
There's just been a lot of changes under President Biden.
How do you see Trump's leadership role changing the global
energy markets.
Speaker 3 (30:48):
That's a great question. And so first, I think it's
important to remember that the United States has really only
been exporting oil and natural gas for around eight years
give or take. You know, we had to, you know,
by law, lift the ban on exporting crude oil, which
happened about eight years ago, and we were planning to
(31:08):
import natural gas up until you know, the shale revolution,
when we realized, gosh, you know, we have way more
than we can ever use here in America. So let's
turn some of these import terminals into export terminals and
build some more. And because of that, art oil and
national gas boat to you know, hundreds of countries around
the globe and play an incredibly important role in geopolitical stability,
(31:33):
especially at a time where there is a lot of
instability in energy producing areas of the world, like Russia
and like the Middle East. So America's energy leadership more
important than ever Secondly, when you look at it from
a climate perspective, of American oil and gas is among
the cleanest energy produced anywhere in the world, and US
(31:55):
LERG has a critical role to play in sort of
global climate efforts as it displaces higher emitting forms of energy.
So we saw us LERG play critical role in Europe
as Europe tried to wean itself off of Russian gas,
(32:16):
and you know, the US energy industry really came to
the rescue of Europe. But let's also not overlook the
fact that it is much more clean burning than Russian
gas or then you know, higher emitting sources of energy
that would be used as an alternative if US energy
wasn't available.
Speaker 2 (32:34):
You know, it's interesting, you're you know, as we're talking
about global energy markets and how it affects different parts
of the world. And one of the shows last week
that I was interviewing actually the editor in chief of
Show magazine Robert and I, Robert Rapier. I asked him,
you know, do you believe that Trump and under these
(32:54):
selections that he has and the agencies that he's putting
in place, the these individuals, will they have that conversation
with him that maybe the United States of America should
be really taking a lead role in how we're going
to shape climate change with these other countries. And the
discussion came back about China and how China really needs
(33:19):
to be moving in the right direction. And Trump is
usually the person if somebody in the energy sector really
helps him understand it's in all of our best interests
to start trying to talk to these other countries and
we're talking about global change. Do you think there's any
chance that Trump takes that position. I know this is
a hypothetical, but I am hoping that he steps up
(33:42):
and says it's time for me to go and talk
to some of these other countries and see how we
can help them make the change too, because we're all
in this together.
Speaker 3 (33:50):
Yeah. So, I think I think President Trump, from his
experience in office and those around him, understands at a minimum,
US energy is a hugely important strategic geopolitical tool and
that our energy exports makes the world more stable and
(34:11):
a safer place, and they also help, you know, support
American jobs. And so I think that that is might
be the first lens through which he looks at it.
But I do think that that is you know, hopefully
pretty well understood.
Speaker 2 (34:29):
You said that and put that together very well, because
I really couldn't put it in the thought knowing, just thinking, Man,
it would be great if the Trump administration really took
this on and looked at it and said, we could
really step up since we don't like a lot. If
he doesn't like a lot of the policies that are
going on with the G twenty and Paris climbing to port,
all these things he finds problematic, but let's find a solution.
(34:52):
If it's not that, maybe potentially, let's just keep talking
this through and let's take a quick break. As I
promised my listeners that we were going to talk about
energy reform, and we're also going to talk about the
Inflation Reduction Act when we return from break. You're listening
to the Energy Mixed Radio show, and we'll be right back.
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Speaker 2 (36:12):
We're back. You're listening to the Energy Mix radio show.
My guest Todays and Bradbury, the CEO of American Exploration
and Production Counts better known as AXPC, and thank you
for sticking around to the questions that I think most
people are asking right about now, especially if you're in
the energy sector. Set this up for our listeners. The
(36:32):
Inflation Reduction Act better known as AIRA, passed in the
Biden administration. Do you think now with the Trump administration
being in office in twenty twenty five in January that
there is going to be an attempt to either pull
back some of that funding and a lot of inside
(36:53):
a lot that was going on inside of Yeah, that's
not even right. A lot of things that were in
the Inflation Reduction or other alternative energy such as hydrogen
was a big winner. So can you tell, first of
all our listeners just remind them the Inflation Reduction Act,
what were the things that were in there that you
all feel could be it's some of your operators potentially
(37:15):
going away.
Speaker 3 (37:17):
Yeah, So you pointed out the Inflation Reduction Act pass
with unified Democrat support and under the Biden administration, and
there were a lot of concerns from industry. It had.
It was a massive bill with a lot of different
policies in there. But there were a lot of energy
policies as well. One of the things that we have
(37:37):
been most concerned about was the creation of the methane
tax or the National Gas Tax, which was part of
the ira.
Speaker 1 (37:47):
IT.
Speaker 3 (37:47):
You had a lot of green subsidies, EV subsidies that
we've heard a lot about as well. And now that
there is both a Trump administration but also Republican control
in the House and Senate, that of legislation is under
a lot of scrutiny.
Speaker 2 (38:04):
M So what do you what are you hearing of
the ones that are probably most vulnerable. Do you feel
comfortable telling us that some of these areas besides what
you said about the methane but there was also a
lot of money in therefore new types of energy such
as I keep talking about hydrogen, but there was a
lot of money in there for hydrogen and hydrogen. There's
a lot of projects that are potentially being announced. How
(38:25):
does that?
Speaker 3 (38:26):
How does that work? If they feel less It's a
great question, you know from what we're hearing, you know,
from Speaker Johnson and from a lot of folks in Congress,
they are again looking at it with a great deal
of scrutiny and taking a scalpel approach to it. So
looking at it provision by provision to see, you know,
what what in here actually has merit and what in
(38:47):
here needs you know, or should be repealed. One of
the things that we are working on is the methane tax,
which we you know, think not only was you know,
problematic in it's inception and conceptually, but also in its
implementation was flawed as well when we saw the rules
from EPA, So that certainly one of the things that
(39:09):
could get repealed. On the other hand, you mentioned, you know, hydrogen,
there's the forty five V tax credit for carbon capture sequestration,
there's the forty five Q tax credit. Those enjoy some
bipartisan support, and I would expect probably won't get repealed,
and so those would likely remain. So it's really going
to be provisioned by provision that they look at it
(39:31):
to decide, you know, what they know believe and have
the votes to repeal, but what you know has enough
support to remain.
Speaker 2 (39:39):
And whatever didn't get funded is probably very very vulnerable
at this point.
Speaker 3 (39:43):
If it hasn't been fun yet, it definitely has vulnerabilities
for sure.
Speaker 2 (39:48):
Yes, let's talk about permitting reform, and please tell us
most people don't understand why energy reform is so important.
We talked earlier in the show, how these product I
don't care which energy project you're talking about. It takes
years to get through the process. And as you mentioned,
there's permitting, there's FURK, there's tons of federal I mean,
(40:10):
the Endangered Species Acts, water over in America, drilling operators
deal with so much regulation that the average person can't
even imagine or understand what that's like. So imagine you
start a project in nineteen fifty and it doesn't even
get through until nineteen sixty five, fifteen years later, maybe twenty.
I'm not saying goes that long, but these have been
(40:32):
some of these cases that it's taken that long to
really get all the way through. How can you conduct
business in that climate, in that environment? So tell us
what the problem is for the energy sector with us
not having an energy reform and most importantly, what do
you think the chances are that we can get it
through Congress to look at some real energy reform, so
policies aren't flipping back and forth as we've talked about
(40:53):
through this whole show.
Speaker 3 (40:55):
Yeah. So, I would say one of the biggest problems
and why we need permitting reform is the weaponization of
some of our bedrock environmental rules. So NIPA, for example,
is a law that's been on the books for many,
many decades. It's a well intentioned law to try to
bring some environmental coordination to major projects, but it has
(41:17):
been absolutely abused, particularly by environmental groups. And third, party
organizations which use it to do projects every step of
the way. As you mentioned, a lot of these major
projects need not one permit, but hundreds of different types
of permits, and when you can sue on all of them,
and when activist judges sort of, you know, look outside
(41:40):
the remit of what the agency is to say, oh, well,
you know, you also need to look at this. You
know they've they looked at you know, what they need
to look at. But you know, the goalposts continue to move.
That's a huge problem. And it's not just a huge
problem for oil and gas. It's becoming a problem for
all energy sources. And that's why there's been a movement
(42:00):
and a pretty significant conversation in Washington lately about permitting
reform for all energy sources because the same things that
make it difficult to build a pipeline these days also
make it really difficult to build a solar farm. And
so you're seeing all forms of energy come together to
(42:21):
talk about, you know, while we still again support you know,
very you know, robust environmental laws, let's make sure these
laws aren't abused in a way that makes it impossible
to build anything anymore. We have you know, a grid
a power grid that is aging we have you know,
in certain parts of the country, it is nearly impossible
(42:43):
to get new pipelines built, and so we need to
be able to meet growing domestic demand for energy. To
be able to re meet the world's demand for energy,
we have to be able to build energy infrastructure, and
permitting reform is critical to that.
Speaker 2 (43:01):
You know, hit you said it perfectly, and this is
what the average consumer doesn't understand. We know that the
senses are showing we're going to need more energy as
the population grows globally, we don't even you know, and
we're shutting down projects. Countries are looking to other countries
(43:21):
that like Russia and Iran that really you probably don't
want them in some kind of a meaningful, powerful place.
So it's just so much to consider when you talk
about having poor energy policies. Here, for the United States
are strong energy policies, and I just kind of wish
that more people understood. Well, heck, that's why we've been
on the radio for eight years, is we're trying to
(43:42):
explain it a matter of national security for us that
we do have strong domestic policy absolutely so that energy
reform is absolutely important, and that is all the time
that we have. I hate to leave on kind of
a note that is like, you know, a little scary,
but we really need to start thinking about those strong
(44:04):
energy policies for the future, along with looking at climate
change and how do we do all these things. Thank
you for coming. I'll give you the last word you
want to leave anything with what's important for our listeners
to pay attention to.
Speaker 3 (44:17):
I would just say it's been a real pleasure talking
to you today. We hit on a lot of important topics.
You know, keep an eye on what's happening in Washington
over the next two to four years. I think it's
going to be there's going to be a lot of
really interesting, exciting and impactful things happening. And write your
member of Congress and make your voice heard, you know,
as these things are happening because they want to hear
from you. And you know, the industry is stronger when
(44:40):
you know we speak as a unified voice. So just
really encourage your engagement and involvement in all of the
things moving forward.
Speaker 2 (44:47):
Thank you very much for joining me on the Energy
Mix Radio show and brand Berry.
Speaker 3 (44:52):
Thanks Kim.
Speaker 1 (44:53):
The Energy Mix Radio Show is where we explore topics
that affect us all in the oil and gas industry.
Every week, our host will interview the movers and shakers
in this fast paced industry. You'll hear from industry experts,
elected officials, and many more on the Energy Mix radio
show
Welcome to the nationally syndicated Energy Mix Radio Show produced
by the Energy Network Media Group. The Energy Mix Radio
Show will give you an inside look at the energy
industry and how it affects you by talking with industry leaders, experts,
and government officials on the Energy Mix Radio Show.
Speaker 2 (00:17):
And Welcome to the Energy Mix Radio Show. I'm your host,
Kim Ballato, and today I am thrilled to have you
join us today as we dive into the latest in
the energy sector. My lineup today, I'm starting with a
very special guest, and Bradbury, who has been a guest
on the show before. She is the CEO of American
Expiration and Production Council that are known as AXPC and
(00:39):
brings a wealth of knowledge and insight in the oil
and gas industry and I can't wait.
Speaker 3 (00:46):
To talk to her.
Speaker 2 (00:47):
So sit back, let's talk a little bit about the
state of the future of energy and Bradbury, welcome back
to the Energy Mix Radio Show.
Speaker 3 (00:56):
Thanks Ken, It's great to see you and great to
see with you today.
Speaker 2 (01:00):
Before we get started, can you give our listeners a
little bit of background on you AXPC? What makes you
different than other organizations that are out there too that
are advocating on behalf of the energy sector and helping
our elected officials understand more energy policies before we jump
into the show.
Speaker 3 (01:21):
Absolutely. So, AXPC is a trade organization based in Washington,
d C. And we represent about thirty of the leading
upstream energy producers. Collectively, our members produce about half of
all the oil and natural gas in the country, and
we're located in every major basin across the country, and
(01:41):
we advocate and educate policy makers around the nuts and
bolts of energy production and advocate for sound federal policy
that enables robust energy production while also being environment only protective.
So just common sense energy policies that help support our industry.
Speaker 2 (02:08):
Yeah, and you know, it's I've been reporting on energy
for about thirteen years now and I have seen probably
four three or four administrations. And of course when we
talk about the greatest commodity that we need to sustain life,
which is oil and gas, it's constantly in flux because
(02:31):
there's so many things that affect energy prices. When we
look at what is the price for per barrel, when
we look at global situations, geopolitical situations, everything has an
impact on energy. And so having groups that really understand
represent their members of the members are the energy folks
(02:53):
that are actually putting out this commodity is vital. And
here we sit in twenty twenty five with a new administration.
One we have seen before but was a little hamstrung
with a lot of Democrats. Now we see something entirely different.
We see that the Republicans control the House, the Senate,
(03:15):
and the White House. And so first things first, how
do you foresee the Trump administration's policies impacting the oil
and gas industry? Is it going to be so significant
that we'll see energy policies change, you know, in the
coming years? Do is you really just have two years?
What are your members telling you? What do you feel
(03:38):
is the most important thing we should be watching out
for with the Trump administration?
Speaker 3 (03:41):
Yeah, so you're asking a big question, and we could
spend you know, most of this, you know, whole hours
kind of unpacking it. So here's what I'll say. First,
you know, the Biden administration was one of the most
aggressive administrations you know, in history, frankly and iss you'd
more at anically significant rules and we've seen in many decades,
(04:04):
maybe ever, and so unwinding that is certainly a priority
of the Trump administration, and energy policy is really front
and center also for the Trump administration. So I think
you'll see a pretty aggressive deregulatory agenda coming out of
the EPA and other federal agencies. But I do think
(04:28):
that right now they're in the process of reviewing are
we going to take a scalpel approach to this or
a sledgehammer approach? Is this going to be a total
undoing or just a fixing? And you know, I think
that you know, we have, you know, some opinions about,
you know, what should be fixed and what should be undone,
but a lot of that will take years, as you
(04:49):
point out, So I think you'll see the signaling, you know,
on day one about what their priorities are and what
direction they want to go in. But it really takes
years to un and do what has been put in
place over the last four years. So it's going to
take some time. And on the congressional side, as you
point out, there's unified Republican control, very narrow and so,
(05:13):
you know, but energy is a unifying issue for a
lot of Republicans, and so again I think on the
legislative side, you'll see a focus on energy as well
through things like the Reconciliation bill that they're going to do,
where anyway we can talk more about some of those details.
(05:33):
But I do think energy will be a big focus
and we'll see some significant policy changes over the next
two and four years.
Speaker 2 (05:41):
Okay, that is piquing my interest a little bit more
to drill down into. There are some really key associations
when we talk about oil and gas and energy.
Speaker 3 (05:51):
And how.
Speaker 2 (05:54):
The views can differ from associations that represent integrated or
large energy companies versus independently owned The needs are very
they are the same, but sometimes they're different too. So
I want to switch gears and roll into some of
the choices that President Trump has made as of right
(06:16):
now and get your feeling on are these goods selections?
Are they knowledgeable selections? And maybe you don't want to
go that far as saying I don't like them, where
I do, but maybe you do. But just what are
some of the things that you guys are keeping your
eye on. Let's start with what are your thoughts on
Trump's choice for a Department of Energy, Chris Right of
Liberty Energy. How are y'all feeling about that selection?
Speaker 3 (06:39):
That famination? Yeah, we are so excited about all of
President Trump's energy related nominees thus far. So Chris, right,
I'm sure, is a pretty similiar name to most of
your listeners of Liberty Energy and just an incredible depth
of knowledge of not she's the oil and gas you
(07:02):
know who I represent, but really of all energy sources
across the board, and having that deep knowledge and passion
for the industry I think is going to be incredibly important.
And that's an agency that oversees a lot of the
United States international engagements related to energy. They oversee LG
(07:23):
export approvals, and they have a really broad remit when
it comes to energy policy. So we're thrilled to have
Chris Write poised to take the helm of the Department
of Energy.
Speaker 2 (07:35):
Let's talk about Congressman Lee Zelden, who is the lead
for PICK or an environmental protection agency, the EPA. What
are y'all's thoughts. We know that he's been an ally
of President Trump's for a long time. He served the
New York District for in twenty fifteen to twenty three,
and then he ran for New York's governor twenty twenty two,
(07:56):
So there's a lot of I would say being an
elected official for a long time understanding how this works.
But also he's had a strong stance on saying he
wants to roll back regulatory overreach and things like that.
So what are you what is your opinion on Congressman Zelden.
Speaker 3 (08:16):
Yeah, so I had the good fortune of overlapping with
Congressman Zelden when I worked on the Hill, and you know,
he's a well respected and really bright member. Not someone
with you know, the energy background that Chris Wright has, certainly,
but he's a lawyer by vocation. You know, he is
very supportive of, you know, President Trump's vision on energy
(08:40):
policies in general. And so I think, especially with his
legal background, one of the things that he'll bring to
the role is the ability to ensure that the Trump
Administration's policies will will withstand legal durability as well. As
you know, a lot of these things are litigated, they
end up in court, and it's not good for the
industry when there's a lot of back and forth and
(09:01):
boomeranging policies. And so one of the things that we
as an organization are advocating for is durable policies. And
I think having someone like Lee Zelden at the helm
of the EPA will be really helpful for that.
Speaker 2 (09:15):
Tell me a little bit about your thoughts on Doug Burgham,
who is an Interior secretary. Yeah, but you'll bring in
to make a change in the energy yeah scene sector.
Speaker 3 (09:26):
So maybe not quite as well known as Chris Right,
but governor of North Dakota, so is certainly anyone that
operates in North Dakota will be very familiar with Doug Burgham.
He is again a passionate advocate for industry and you know,
has been great for North Dakota operators. He's also been
a huge advocate for c the US in his state
(09:49):
and for carbon capture, and North Dakota is a leader
in carbon capture, and so he's got real environmental credibility
as well. You know, he's got a tech background and
you know, just so brings the deep breadth and depth
of knowledge on both the energy side but also the
business side. And you know, Interior overseas all of our
(10:10):
federal lands, federal permitting. Under the Biden administration, they've effectively,
you know, leasing new land has been been negligible, and
so we're excited to see a bit of a resurgence
in leasing a Federal Lands under soon to be Secretary
Burghram and his leadership.
Speaker 2 (10:32):
You know that's that being said, these three different selections
for EPA, Interior Secretary, and DOE. Have you in your
time in the energy sector ever seeing such a thing
where there's really great nominees coming together. Basically are understanding
or willing to learn quickly about the energy sector to
(10:54):
make Americans energy energy dominance. As President Trump likes to say, reality,
what do you think about all of these coming together?
Speaker 3 (11:05):
Again? We're really excited about it. We've had great nominees
in the past, certainly, but I will say, you know,
across the board, you know, these are incredibly strong and
talented individuals who I think will also work together well
because a lot of these policies really go hand in hand.
And as you know, energy, you know, the energy industry
(11:27):
isn't siloed and policy shouldn't be either. So I'm also
hopeful that they'll work together really well to have a
really thoughtful and comprehensive approach to energy policy. Well, and
we're going to.
Speaker 2 (11:39):
Take a quick break, but when we return, I want
to get on the topic today's show. I hope that
we can cover a lot of the Trump administration, what
you feel, what your members are saying, What is the
energy polls out there on a lot of the transitions
that we're going to see going through this Trump through
the Trump administration. But when we return, I want you
(11:59):
to let's drill down into the challenges and the potential
benefits of the oiling GUS sector that they might face
under the Trump administration. But we are planning on covering
a lot of the energy sector with the Trump administration changes,
good bad, federal lands, offshore, everything's on the table. But
we've got to take a quick break. You're listening to
(12:19):
the Energy Mix radio show. We'll be right back.
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Speaker 2 (13:02):
And we're back. You're listening to the Energy Mix radio show.
My guest today is Anne Bradbury, the CEO of American
Exploration and Production Council, better known as AXPC. And let's
jump back into the Trump administration. Everybody, I think is
very excited for what twenty twenty five holes, especially if
(13:23):
you are in the energy sector. So can you elaborate
on what you feel the potential benefits and if there's
any challenges that you see, specifically pertaining to the oil
and gas sector that the industry might face under a
Trump administration.
Speaker 3 (13:41):
So I think from day one what we'll see is
some early executive orders, which some of which will have
real impact right away. For example, the lifting of the
LG pause we expect as a day one action out
of a Trump administration. Now that being said, there may
still be some work to do on the LA Export
Approval study, but the lifting of the pause I think
(14:04):
is something that would happen right away because that's an
executive action and it doesn't need sort of additional rulemaking
time frame. Beyond that, I think you'll see some executive
orders that give direction to the agencies on what regulatory
approaches to follow when it comes to methane regulation, for example,
(14:30):
or federal leasing out of DHY. And so those day
one actions are really sort of instructions to the agencies
on how to proceed with some of these policies moving
forward that might take a little more time and process.
Speaker 2 (14:47):
And because our show is really for the average Joe person,
explain again the L and G pause. Why did the
Biden administration put it on a pause and how important
was it and how important is it to get this
undone for I guess being able to provide our allies
(15:08):
Europe and other countries natural liquefied gas and making sure
that they have enough of what they need. So talk
to us a little bit about what happened with the
energy pause.
Speaker 3 (15:19):
Yeah, great question, so Ellen, for Ellen, for loquified national
gas energy to be exported, it has to go through
a step that crude oil doesn't have to go through.
It has to go through an approval process at both
FIRK and at DOE. And so DOE is the sort
of unique piece here. And about a year ago, the
(15:39):
Biden administration paused approvals of all new LNG export facilities
and that was impactful.
Speaker 4 (15:50):
Maybe not in the immediate but it put a real
damper on a lot of new LNG facilities that are
coming online and really called into question and the reliability
of LERG of the United States as an energy provider.
Speaker 3 (16:05):
These are, you know, twenty year deals and so any
hint that the United States might not be able to
follow through on its commitment to provide this essential resource
to our allies around the globe was really concerning. And
so the pause is still in effect even though a
judge has technically lifted it. We haven't seen any approvals
(16:29):
out of the Biden administration. We do think that the
Trump administration will lift that pause on approvals and will
move forward with them. There there may be some additional
UH process involved to ensure again that they that they
remain legally durable as well, but what we've heard from
(16:52):
the Trump administration is that they want to get LG
export approvals moving again as quickly as possible.
Speaker 2 (16:59):
Is your opinion, do you see when I look out
on the energy sector and see different administration is coming in?
And of course there is administrations that like oil and gas,
such as President Trump and then President Biden was more
for smaller when we're greener alternatives, and so you see
(17:20):
this changing hydrogen was one. Llen g was one that
was they went through a switching of the roles, if
you will, the different administrations, which leads me to it
always seems as though the energy sector has to go
through vast amounts of changes and quickly depending on who's
(17:42):
in the White House and who's in Congress. And so
we saw the flipping of natural gas policy through the
Biden administration and pro so much billions of dollars was
given to hydrogen. And later on the show, we're going
to get into the inflation reduction app But do you
see it constantly pivoting in some ways that just flip flops,
(18:03):
and how the energy industry has to react quickly to
keep up with policies and recommendations and desires from these
elected officials. What are your thoughts on how quickly you
all have to switch gears and adapt.
Speaker 3 (18:17):
Yeah, yeah, I don't know that it happens quickly, but
I certainly see over the last four years there's been
a preferential treatment for renewable sources, and that you know
from a lot of the left you see sort of
a demonization of oil and gas, and you know, policies
(18:40):
that are intended to kind of, you know, prop up
some of their favored energy sources. You know, the fact
is that the world needs a lot more energy. That
the world is going to consume thirty percent more energy
by twenty fifty than it does right now, and they
need all the world needs all sources of energy, and
(19:01):
so you know, what we want to remind policy makers
is that oil and gas is an essential part of
that future energy mix. You know, but the world again
needs all forces of energy it needs, it needs. Nuclear
should be part of the discussion. Oil and gas should
be part of the discussion, you know, renewables should be
(19:23):
part of the discussion. But we shouldn't be favoring especially
intermittent sources of energy over the necessary energy and base
load energy that oil and gas provides.
Speaker 2 (19:37):
That's why your associations are so important and bile as
you go out and try to help these elective officials
understand what happens when they don't understand how real energy
works and the policies that you all need. Let's take
a quick break. When we return, I want to I
want you to tell us a little bit about your
thoughts on rolling back the environmental regulations and the effect
(20:02):
that you think it would have, and especially public perception
when we talk about a climate change. But we're going
to take a quick break in we'll be right back.
You're listening to the Energy Mix radio show.
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Speaker 2 (21:22):
And Rebecca, you're listening to the Energy Mix radio show.
My guest today is and Bradberry, who is the CEO
of American Expiation and Production Council better known as ax PC.
And President Biden with one of his pillars was climate
change and really trying to look at alternative energy sources, renewables,
(21:47):
and so we saw a lot of his administration rather
it was pushing out money expiation trying to see what
they feel could be solutions.
Speaker 3 (21:57):
And now with.
Speaker 2 (21:58):
President Trump, we see that he has what would appear
a desire to make us more energy and dependent, specifically
in oil and gas. Two totally different opinions considering some
of the selections that he has made for who will
run these agencies that will really dictate the environmental regulations
(22:20):
that will affect the industry's operations and public perception. Tell
me what your thoughts are on how delicate of a
balance will they need to have? Are you guys sitting
at the table to help the administration and the elected
officials kind of not lose the footing that we've made
in positive changes when we look at environmental regulations and
(22:43):
which ones were not necessary, that we're overburdensome, and which
ones really make sense?
Speaker 3 (22:48):
Are there any Yeah, that's a great question, Kim, And
we are advocating for a scalpel, not a sledgehammer approach,
because you know, we're not our advocating to remove all
environmental regulations, right because to your point, not only do
some of them make sense, they also you know, provide
(23:08):
you know, our social license to operate, and a lot
of our end users are international who you know, users
who are also interested in the sustainability footprint of the
energy that they're consuming, and so we want to provide
that transparency and that sort of best in class energy
that we make here in America. So there are some
(23:30):
environmental regulations that absolutely make sense, and so the challenge
now is going to be ensuring that the common sense
regulations that you know, support industry but support our environmental
goals as well, are retained while fixing some of the
(23:55):
pieces that are you know, just totally unworkable or feasible.
And so that's a challenge, you know, I'll also just
remind you know, as you're aware, industry has reduced its
own emissions year over year regardless of who is in
(24:16):
charge of the White House. So there is a very
strong industry commitment to environmental sustainability and to constant improvement
when it comes to our own environmental performance. And I
know that that will continue, and we need to make
sure that we were telling that story as well.
Speaker 2 (24:34):
You know, years back, one of the covers is Show magazine.
What we put on the cover was the Willow Project
because of the lack of being able to get anything
done in long term projects, which is what really happens
in the energy industry, and showing how it was almost impossible,
(24:55):
kind of like the Keystone pipeline. These projects that are
large and linked the scope takes so long, they go
through different administrations, and it's really hard to conduct business
when it's consistently changing. I don't mean consistently in like
day to day, but I'm talking about through the administrations.
So later on in the show, let's talk about reform,
(25:17):
but before we get there, I want to get your
views on this is a perfect example of the administration's
plan to increase oil and gas drilling on federal lands
and offshore areas. So take our listeners back to with
the Bide administration, what was happening with federal lands. A
lot of our listeners in Texas, so they don't really
(25:38):
have a lot of understanding of federal lands like other
states that almost all their drilling is being conducted on
federal lands and then offshore too. Can you talk to
us a little bit about how these kind of got
cross caught in the crosshairs and what do you see
the Trump administration doing to try to get these restarted
(25:59):
or or help them these projects move along.
Speaker 3 (26:02):
Yeah, great question. So what's important about federal lands is
that it is highly regulated by the federal government in
terms of what you know, drilling in production is allowed there.
You need federal permits, you know, and you know which
come from federal leases. So you know, if you're drilling
on private lands, you're you know, less, there's less direct
control over that, but federal lands, you know, there's a
(26:25):
very direct federal agency involvement. And so what we have
seen under the Biden administration is almost negligible leasing of
new federal lands. There's a statutory requirement that the federal
government leases land for oil and gas, and unfortunately, you know,
(26:49):
it was very minimal. It wasn't the desired areas, and
so that was has been a huge concern. About twenty
five percent of all oil and gas produced in the
US comes out of either federal land or waters.
Speaker 2 (27:06):
So it is a significant amount, right, And let's take
a quick break. I'm sorry, we're just in a hard break.
When we come back, we're going to pick up federal
lands and offshore areas. You're listening to the Energy Mix
radio show. Will be right back, and we're back. You're
listening to the Energy Mix radio show. My guest today
is Ann Bradbury, CEO of American Expiration and Production Council AXPC,
(27:31):
and I'm sorry for having to cut you off when
you were talking about federal lands and offshore hardbreaks. Come,
let's get back on that topic. So you said, twenty
five percent of all of the energy produced in North
America is coming from federal lands, and administration was kind
of slow walking any drilling on federal lands. This is
(27:53):
what we covered on Shell magazine. In Shell Magazine when
we talked about the Willow Project because it is on
federal lands and it is taking years to try to
get through and they can't get the necessary permitting. It's
a great article. I highly recommend our listeners to go
and look up show magazine the Willow Project. But let's
go back to the federal lands and offshore. So we
need it. Obviously, twenty five percent of the energy being
(28:17):
produced is coming from these two areas, and it had
been hindered. Please get back on the topic of so
what is the soution here?
Speaker 3 (28:26):
Yeah? So first so so yeah, so federal lands and
water is really essential to domestic energy production. So first
we need to go back to regular and robust federal leasing.
You know, it takes you know, once once an area
is least for development, it still takes years to then
you know, get to the stage of production. So the
(28:49):
best analogy I have is this would be like, you know,
a top college football team not doing any recruiting, right,
like you have to be thinking about that production and
that you know, talent if you well, and where it's
coming from in the next several years. And so you know,
we essentially haven't done any recruiting on federal lands, and
so we need to go back to a robust leasing program,
(29:10):
which is also required by law. Secondly, once you have
a lease, you still need a permit to drill, and
in some areas, in particularly New Mexico, it can take
a year or more to get an approved APD, and
just across the state line in Texas, as many of
(29:31):
your listeners will know, it's really a matter of days
that get you know, you know, they take to approve
an APD. There's an enormous amount of time and work
and thought that goes into this, and a year is
just a pretty you know, unacceptable amount of time. So
once we get back to federal leasing, we also need
to think about permitting and ensuring that those are happening
(29:52):
at a much quicker clip and a much more predictable
clip as well, so that companies can can plan their
operation rations in the way that they do.
Speaker 1 (30:04):
Well.
Speaker 2 (30:04):
You know, we've been talking a lot about the changes
that are going to occur here in North America for
the energy sector, and of course your your remembers will
be affected as well. But what is your role, I
don't know what is your stance? Excuse me on how
you think the United States' role will play on global
energy markets now with this new administration versus the Biden administration,
(30:28):
because we've had a lot of changes. When the Bido
administration was in office, Uh, we had a new war
pop up, which was of course the invasion of Ukraine.
There's just been a lot of changes under President Biden.
How do you see Trump's leadership role changing the global
energy markets.
Speaker 3 (30:48):
That's a great question. And so first, I think it's
important to remember that the United States has really only
been exporting oil and natural gas for around eight years
give or take. You know, we had to, you know,
by law, lift the ban on exporting crude oil, which
happened about eight years ago, and we were planning to
(31:08):
import natural gas up until you know, the shale revolution,
when we realized, gosh, you know, we have way more
than we can ever use here in America. So let's
turn some of these import terminals into export terminals and
build some more. And because of that, art oil and
national gas boat to you know, hundreds of countries around
the globe and play an incredibly important role in geopolitical stability,
(31:33):
especially at a time where there is a lot of
instability in energy producing areas of the world, like Russia
and like the Middle East. So America's energy leadership more
important than ever Secondly, when you look at it from
a climate perspective, of American oil and gas is among
the cleanest energy produced anywhere in the world, and US
(31:55):
LERG has a critical role to play in sort of
global climate efforts as it displaces higher emitting forms of energy.
So we saw us LERG play critical role in Europe
as Europe tried to wean itself off of Russian gas,
(32:16):
and you know, the US energy industry really came to
the rescue of Europe. But let's also not overlook the
fact that it is much more clean burning than Russian
gas or then you know, higher emitting sources of energy
that would be used as an alternative if US energy
wasn't available.
Speaker 2 (32:34):
You know, it's interesting, you're you know, as we're talking
about global energy markets and how it affects different parts
of the world. And one of the shows last week
that I was interviewing actually the editor in chief of
Show magazine Robert and I, Robert Rapier. I asked him,
you know, do you believe that Trump and under these
(32:54):
selections that he has and the agencies that he's putting
in place, the these individuals, will they have that conversation
with him that maybe the United States of America should
be really taking a lead role in how we're going
to shape climate change with these other countries. And the
discussion came back about China and how China really needs
(33:19):
to be moving in the right direction. And Trump is
usually the person if somebody in the energy sector really
helps him understand it's in all of our best interests
to start trying to talk to these other countries and
we're talking about global change. Do you think there's any
chance that Trump takes that position. I know this is
a hypothetical, but I am hoping that he steps up
(33:42):
and says it's time for me to go and talk
to some of these other countries and see how we
can help them make the change too, because we're all
in this together.
Speaker 3 (33:50):
Yeah. So, I think I think President Trump, from his
experience in office and those around him, understands at a minimum,
US energy is a hugely important strategic geopolitical tool and
that our energy exports makes the world more stable and
(34:11):
a safer place, and they also help, you know, support
American jobs. And so I think that that is might
be the first lens through which he looks at it.
But I do think that that is you know, hopefully
pretty well understood.
Speaker 2 (34:29):
You said that and put that together very well, because
I really couldn't put it in the thought knowing, just thinking, Man,
it would be great if the Trump administration really took
this on and looked at it and said, we could
really step up since we don't like a lot. If
he doesn't like a lot of the policies that are
going on with the G twenty and Paris climbing to port,
all these things he finds problematic, but let's find a solution.
(34:52):
If it's not that, maybe potentially, let's just keep talking
this through and let's take a quick break. As I
promised my listeners that we were going to talk about
energy reform, and we're also going to talk about the
Inflation Reduction Act when we return from break. You're listening
to the Energy Mixed Radio show, and we'll be right back.
Speaker 7 (35:11):
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Speaker 2 (36:12):
We're back. You're listening to the Energy Mix radio show.
My guest Todays and Bradbury, the CEO of American Exploration
and Production Counts better known as AXPC, and thank you
for sticking around to the questions that I think most
people are asking right about now, especially if you're in
the energy sector. Set this up for our listeners. The
(36:32):
Inflation Reduction Act better known as AIRA, passed in the
Biden administration. Do you think now with the Trump administration
being in office in twenty twenty five in January that
there is going to be an attempt to either pull
back some of that funding and a lot of inside
(36:53):
a lot that was going on inside of Yeah, that's
not even right. A lot of things that were in
the Inflation Reduction or other alternative energy such as hydrogen
was a big winner. So can you tell, first of
all our listeners just remind them the Inflation Reduction Act,
what were the things that were in there that you
all feel could be it's some of your operators potentially
(37:15):
going away.
Speaker 3 (37:17):
Yeah, So you pointed out the Inflation Reduction Act pass
with unified Democrat support and under the Biden administration, and
there were a lot of concerns from industry. It had.
It was a massive bill with a lot of different
policies in there. But there were a lot of energy
policies as well. One of the things that we have
(37:37):
been most concerned about was the creation of the methane
tax or the National Gas Tax, which was part of
the ira.
Speaker 1 (37:47):
IT.
Speaker 3 (37:47):
You had a lot of green subsidies, EV subsidies that
we've heard a lot about as well. And now that
there is both a Trump administration but also Republican control
in the House and Senate, that of legislation is under
a lot of scrutiny.
Speaker 2 (38:04):
M So what do you what are you hearing of
the ones that are probably most vulnerable. Do you feel
comfortable telling us that some of these areas besides what
you said about the methane but there was also a
lot of money in therefore new types of energy such
as I keep talking about hydrogen, but there was a
lot of money in there for hydrogen and hydrogen. There's
a lot of projects that are potentially being announced. How
(38:25):
does that?
Speaker 3 (38:26):
How does that work? If they feel less It's a
great question, you know from what we're hearing, you know,
from Speaker Johnson and from a lot of folks in Congress,
they are again looking at it with a great deal
of scrutiny and taking a scalpel approach to it. So
looking at it provision by provision to see, you know,
what what in here actually has merit and what in
(38:47):
here needs you know, or should be repealed. One of
the things that we are working on is the methane tax,
which we you know, think not only was you know,
problematic in it's inception and conceptually, but also in its
implementation was flawed as well when we saw the rules
from EPA, So that certainly one of the things that
(39:09):
could get repealed. On the other hand, you mentioned, you know, hydrogen,
there's the forty five V tax credit for carbon capture sequestration,
there's the forty five Q tax credit. Those enjoy some
bipartisan support, and I would expect probably won't get repealed,
and so those would likely remain. So it's really going
to be provisioned by provision that they look at it
(39:31):
to decide, you know, what they know believe and have
the votes to repeal, but what you know has enough
support to remain.
Speaker 2 (39:39):
And whatever didn't get funded is probably very very vulnerable
at this point.
Speaker 3 (39:43):
If it hasn't been fun yet, it definitely has vulnerabilities
for sure.
Speaker 2 (39:48):
Yes, let's talk about permitting reform, and please tell us
most people don't understand why energy reform is so important.
We talked earlier in the show, how these product I
don't care which energy project you're talking about. It takes
years to get through the process. And as you mentioned,
there's permitting, there's FURK, there's tons of federal I mean,
(40:10):
the Endangered Species Acts, water over in America, drilling operators
deal with so much regulation that the average person can't
even imagine or understand what that's like. So imagine you
start a project in nineteen fifty and it doesn't even
get through until nineteen sixty five, fifteen years later, maybe twenty.
I'm not saying goes that long, but these have been
(40:32):
some of these cases that it's taken that long to
really get all the way through. How can you conduct
business in that climate, in that environment? So tell us
what the problem is for the energy sector with us
not having an energy reform and most importantly, what do
you think the chances are that we can get it
through Congress to look at some real energy reform, so
policies aren't flipping back and forth as we've talked about
(40:53):
through this whole show.
Speaker 3 (40:55):
Yeah. So, I would say one of the biggest problems
and why we need permitting reform is the weaponization of
some of our bedrock environmental rules. So NIPA, for example,
is a law that's been on the books for many,
many decades. It's a well intentioned law to try to
bring some environmental coordination to major projects, but it has
(41:17):
been absolutely abused, particularly by environmental groups. And third, party
organizations which use it to do projects every step of
the way. As you mentioned, a lot of these major
projects need not one permit, but hundreds of different types
of permits, and when you can sue on all of them,
and when activist judges sort of, you know, look outside
(41:40):
the remit of what the agency is to say, oh, well,
you know, you also need to look at this. You
know they've they looked at you know, what they need
to look at. But you know, the goalposts continue to move.
That's a huge problem. And it's not just a huge
problem for oil and gas. It's becoming a problem for
all energy sources. And that's why there's been a movement
(42:00):
and a pretty significant conversation in Washington lately about permitting
reform for all energy sources because the same things that
make it difficult to build a pipeline these days also
make it really difficult to build a solar farm. And
so you're seeing all forms of energy come together to
(42:21):
talk about, you know, while we still again support you know,
very you know, robust environmental laws, let's make sure these
laws aren't abused in a way that makes it impossible
to build anything anymore. We have you know, a grid
a power grid that is aging we have you know,
in certain parts of the country, it is nearly impossible
(42:43):
to get new pipelines built, and so we need to
be able to meet growing domestic demand for energy. To
be able to re meet the world's demand for energy,
we have to be able to build energy infrastructure, and
permitting reform is critical to that.
Speaker 2 (43:01):
You know, hit you said it perfectly, and this is
what the average consumer doesn't understand. We know that the
senses are showing we're going to need more energy as
the population grows globally, we don't even you know, and
we're shutting down projects. Countries are looking to other countries
(43:21):
that like Russia and Iran that really you probably don't
want them in some kind of a meaningful, powerful place.
So it's just so much to consider when you talk
about having poor energy policies. Here, for the United States
are strong energy policies, and I just kind of wish
that more people understood. Well, heck, that's why we've been
on the radio for eight years, is we're trying to
(43:42):
explain it a matter of national security for us that
we do have strong domestic policy absolutely so that energy
reform is absolutely important, and that is all the time
that we have. I hate to leave on kind of
a note that is like, you know, a little scary,
but we really need to start thinking about those strong
(44:04):
energy policies for the future, along with looking at climate
change and how do we do all these things. Thank
you for coming. I'll give you the last word you
want to leave anything with what's important for our listeners
to pay attention to.
Speaker 3 (44:17):
I would just say it's been a real pleasure talking
to you today. We hit on a lot of important topics.
You know, keep an eye on what's happening in Washington
over the next two to four years. I think it's
going to be there's going to be a lot of
really interesting, exciting and impactful things happening. And write your
member of Congress and make your voice heard, you know,
as these things are happening because they want to hear
from you. And you know, the industry is stronger when
(44:40):
you know we speak as a unified voice. So just
really encourage your engagement and involvement in all of the
things moving forward.
Speaker 2 (44:47):
Thank you very much for joining me on the Energy
Mix Radio show and brand Berry.
Speaker 3 (44:52):
Thanks Kim.
Speaker 1 (44:53):
The Energy Mix Radio Show is where we explore topics
that affect us all in the oil and gas industry.
Every week, our host will interview the movers and shakers
in this fast paced industry. You'll hear from industry experts,
elected officials, and many more on the Energy Mix radio
show
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