GOP senator outlines proposal for ‘Energy Operation Warp Speed’

Sen. Bill Cassidy on Wednesday unveiled an energy policy proposal he equated to the Trump administration’s “Operation Warp Speed” vaccine development program to address soaring energy prices. 

The Louisiana Republican’s proposal included streamlining the permitting process for energy development at agencies such as the Environmental Protection Agency, similar to the regulatory streamlining put in place to rapidly develop the COVID-19 vaccine over 2020.

It would also incorporate a streamlined process for advanced nuclear permits and finalize a 5-year plan for future oil and natural gas development.

Cassidy also proposed to eliminate regulatory barriers for technology that reduces emissions and create a strict timeline for feedback and approval of permits and handling of complaints.

Responding to the fact that less than 10 percent of U.S. oil drilling is on federal lands, Cassidy replied saying “energy is very susceptible to margins. So a little bit of extra margin drives down cost pretty quickly, and a little bit of a short margin.”

“So when they say ‘oh, it’s just a little bit on federal lands,’ that’s the margin that makes the difference,” he added, referring to the Biden administration.

Cassidy told reporters that he “absolutely” saw a place for renewable energy in the solution but pointed out that such technology is not ready for full-scale rapid deployment.

“We’re seeking common ground with those who are concerned about climate, absolutely. We’ve also spoken to Europeans that have seen a large-scale rapid deployment of solar energy on the African North Shore, that that could free up natural gas. They’re currently using for domestic use in kind of antiquated natural gas plants. And you could ship that by pipeline to Europe,” he said.

Cassidy also presented the proposal outline as beneficial with regard to emissions, saying it would remove regulatory obstacles to renewable development and speed up the permitting process for installing emissions-lowering technology.

Republicans have sharply criticized the Biden administration amid record-high gas prices, blaming administration policies such as its freeze on oil and gas leasing on federal land.

After a federal judge blocked the freeze, the U.S. resumed leasing but appealed the ruling. Energy prices have skyrocketed in most of the world even before Russia’s invasion of Ukraine, due in large part to a sharp drop in demand during the COVID pandemic, followed by a rebound in demand but a supply shortfall.