MSCI, U.S. Chamber Ask President To Expand Domestic Energy Production
The Metals Service Center Institute (MSCI) joined the U.S. Chamber of Commerce and other organizations last week to send a letter to U.S. President Joe Biden asking him to take several steps to increase domestic energy production.
The letter, which is available here, argues, “Climate change is a serious challenge requiring action, but pursuing climate progress and energy security are not mutually exclusive.”
The letter advises that the country “must both increase domestic production of oil and natural gas and accelerate the energy transition” to bring relief to U.S. businesses and households and boost confidence for investors. The letter also notes, “Russian oil is among the dirtiest in the world, so displacing it with cleaner, less carbon intensive U.S. production would bring obvious environmental benefits.”
Specifically, MSCI, the Chamber, and the more than 200 other signatories asked the president to:
- End the ban on new oil and natural gas exploration on federal lands and waters;
- Restore cancelled lease sales; and
- Adopt a five-year plan for oil and gas development that allows the United States to maximize offshore potential.