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CONSOL Energy President Nicholas Deiuliis on the impact of government regulations on the energy sector.
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The price of oil back over 100 dollars a barrel -- new focus on our country's failure to -- -- develop an energy policy.
Now to problem that American oil companies have been grappling with every day joining us now is the president of one of them.
Console energies -- that could dilute the earliest.
He's right now the -- energy conference in Pittsburgh next welcome to this show.
-- -- Nick and woods and a lot of a lot of this energy -- -- and his big time on all sides alternative energy natural gas the Keystone Pipeline.
But the bottom line is that we're back -- a hundred dollars a barrel gasoline is gonna start moving up through rural soon of people wonder does the industry or does the government have a solution for this.
Well we need -- a solution and when you look at energy security and energy policy issues.
One thing is clear not just within this nation of the world over we need fossil fuels we need natural gas we need -- And when you look at the supply side specific to the Marcellus Shale and Utica shale.
We've got an abundant opportunity for natural resources and specifically oil natural gas.
It's at a cost second to none and it's proven from a geological stand point so we think we've got the answer.
Let's talk -- about some of the act regulations the EPA is trying to put on your industry the coal industry the gas industry we know it's something that's holding back not EPA -- -- environmental regulations holding back.
This Keystone Pipeline do you think the EPA is having a negative impact in an energy production is it necessary.
And what do you say out there to critics.
Well we think is necessary is fair -- reasonable regulation and oversight every one's four.
A great environment great access to water parents that are we all -- that we -- trying to get.
And what we're seeing today is something very different.
And what we're seeing today is an outright attack on the fossil fuel industry whether it's coal or natural gas.
And that oversight or some of those potential regulations -- talk of it.
Is a complete -- from the reasonable and balanced regulation that that you would want to see from reasonable and balanced energy policy.
You see on the coal supply side you see on a cold generation side -- -- -- increasingly on the natural gas production side as well.
Mecca yesterday there's a nice turnaround and and most of the stock senior sector as bill of was answered the Nat gas bills introduced into the senate earlier today.
We have Boone Pickens on our network I want to take a listen to what he said that I want to follow up.
You had to bail later this year security in the senate.
By.
Chambliss.
And Menendez.
Borer and read.
In the senate yesterday that as a pay for it.
That is no subsidy for anybody.
So that's the -- you wanna pass that will incentivized.
Natural gas to be used for transportation field.
You know -- just foundation is saying this is indeed -- subsidy and the big question now live from what we can't have -- -- lenders in a world and certainly no one can see why we should subsidize your industry is well also the big question is.
Ten year industry -- can't we have bunds compressed natural gas and commercial vehicles maybe even regular cars without the help of government assistance.
When you look at the issue of of subsidies whether it's it's tax incentives or other forms of subsidies.
It's important to note that when you look at fossil fuels whether it's natural gas coal or oil.
Vs renewables wind solar etc.
it's disproportionate.
Fossil fuels are 75%.
Or so the total energy generation in this country.
They get less than 15% of the energy subsidies.
Renewables are about eleven or 12% of total energy production in this nation they get over seventy plus percent of the subsidies -- right off the bat.
There's not what I would call a reasonable level playing field when it comes to support for different forms of energy -- -- -- power generation.
Can we go it alone and look at these shale production -- natural gas production.
Oil coal -- -- without any subsidies I think the answer to that is yes the concern of course is that we lose that support.
And the energy security benefits it would come from it -- the same time having people choose winners and losers.
From a a policy standpoint where others retained.
And other subsidies and get an unfair advantage in the market.
Well I'm glad you say yes because I think that's going to be the reality going forward thanks so much that the -- -- president of the solar energy we appreciate it.
Thank you.
