CARMI, Ill. (WEHT) – Gas and energy prices could skyrocket under new legislation. That’s according to oil and gas experts.
President Joe Biden’s executive order issued Wednesday is aimed at pausing new oil and gas leasing on public land to fight climate change.
Even though this ban mostly affects land out west, experts predict we feel the effects here at home. Seth Whitehead, executive director of the Illinois Petroleum Resources Board said the technology behind renewable energy isn’t equipped to fully sustain our country.
“Oil and gas is 70 percent of our energy supply. It’s projected to be 70 percent of our energy supply 20 years from now. So, we are going to need oil and gas and it’sjust best to produce as much here as we can,” he said.
Illinois produces an average of nine million barrels of crude oil a year, supplying thousands of jobs locally.