President Biden Scraps Offshore Oil Auctions & Sales in Alaska and Gulf of Mexico

[YoursTruly]

One might think he's learned his lesson by now, to stay out of the gas/oil industries hair. Apparently, the oil companies weren't doing anything on these leases. It's the bust cycle so everyone is on lay off now. But even if the oil companies aren't trying to find oil/gas, why even bother ending the leases?
Biden is a moron. And the oil companies are going to make us suffer for it.
Getting hit on two fronts.
This will give them an excuse to lower production and increase the stock prices.

Biden administration cancels Alaska oil and gas lease sale​

The Biden administration has canceled one of the most high-profile oil and gas lease opportunities pending before the Interior Department. The decision, which halts the potential to drill for oil in over 1 million acres in the Cook Inlet in Alaska, comes at a challenging political moment, when gas prices are hitting painful new highs.

In a statement shared first with CBS News, the Department of the Interior cited a "lack of industry interest in leasing in the area" for the decision to "not move forward" with the Cook Inlet lease sale. The department also halted two leases under consideration for the Gulf of Mexico region because of "conflicting court rulings that impacted work on these proposed lease sales."

Federal law requires the Department of the Interior to stick to a five-year leasing plan for auctioning offshore leases. The administration had until the end of the current five-year plan — set to expire at the end of next month — to complete these lease sales.

 

[1srelluc]

Dow Jones, S&P 500 Falters; Disney Stock Dips On Missed Earnings​

On Thursday, the Dow Jones Industrial Average is down by 300 points as investors continue the broad sell-off and investors continue to digest more red-hot inflation data. Prices remain elevated in April, signaling more aggressive inflation control methods by the Federal Reserve.

https://www.nasdaq.com/articles/sto...-falters-disney-stock-dips-on-missed-earnings

 

[daveman]

Can't wait to hear from the Useful Idiots how this is Putin's fault.

 

[toobfreak]

Biden is messing with the oil companies again.​

One might think he's learned his lesson by now,

Oh no. I would NEVER think that Biden has ever learned his lesson!

Biden is a moron. The decision, which halts the potential to drill for oil in over 1 million acres in the Cook Inlet in Alaska, comes at a challenging political moment, when gas prices are hitting painful new highs.

No argument there. But I don't believe in accidents. People who make accidents sometimes err on the RIGHT side of things by simple random chance but Biden hasn't done a single right thing since in office.

 

[surada]

One might think he's learned his lesson by now, to stay out of the gas/oil industries hair. Apparently, the oil companies weren't doing anything on these leases. It's the bust cycle so everyone is on lay off now. But even if the oil companies aren't trying to find oil/gas, why even bother ending the leases?
Biden is a moron. And the oil companies are going to make us suffer for it.
Getting hit on two fronts.
This will give them an excuse to lower production and increase the stock prices.

Biden administration cancels Alaska oil and gas lease sale​

The Biden administration has canceled one of the most high-profile oil and gas lease opportunities pending before the Interior Department. The decision, which halts the potential to drill for oil in over 1 million acres in the Cook Inlet in Alaska, comes at a challenging political moment, when gas prices are hitting painful new highs.

In a statement shared first with CBS News, the Department of the Interior cited a "lack of industry interest in leasing in the area" for the decision to "not move forward" with the Cook Inlet lease sale. The department also halted two leases under consideration for the Gulf of Mexico region because of "conflicting court rulings that impacted work on these proposed lease sales."

Federal law requires the Department of the Interior to stick to a five-year leasing plan for auctioning offshore leases. The administration had until the end of the current five-year plan — set to expire at the end of next month — to complete these lease sales.

You must be an oil company exec to know so much based on such vague information.

 

[Nostra]

Can't wait to hear from the Useful Idiots how this is Putin's fault.

Or…..ORANGE MAN BAD!

 

[Nostra]

You must be an oil company exec to know so much based on such vague information.

Tell us how these decisions help the US with the price of oil.

 

[healthmyths]

One might think he's learned his lesson by now, to stay out of the gas/oil industries hair. Apparently, the oil companies weren't doing anything on these leases. It's the bust cycle so everyone is on lay off now. But even if the oil companies aren't trying to find oil/gas, why even bother ending the leases?
Biden is a moron. And the oil companies are going to make us suffer for it.
Getting hit on two fronts.
This will give them an excuse to lower production and increase the stock prices.

Biden administration cancels Alaska oil and gas lease sale​

The Biden administration has canceled one of the most high-profile oil and gas lease opportunities pending before the Interior Department. The decision, which halts the potential to drill for oil in over 1 million acres in the Cook Inlet in Alaska, comes at a challenging political moment, when gas prices are hitting painful new highs.

In a statement shared first with CBS News, the Department of the Interior cited a "lack of industry interest in leasing in the area" for the decision to "not move forward" with the Cook Inlet lease sale. The department also halted two leases under consideration for the Gulf of Mexico region because of "conflicting court rulings that impacted work on these proposed lease sales."

Federal law requires the Department of the Interior to stick to a five-year leasing plan for auctioning offshore leases. The administration had until the end of the current five-year plan — set to expire at the end of next month — to complete these lease sales.

And this is the reality!
Crude oil production in Alaska averaged 448,000 barrels per day (b/d) in 2020,
the lowest level of production since 1976

Oil production in Alaska reaches lowest level in more than 40 years

www.eia.gov

The Alaska offshore is estimated to offer an average (mean) potential for undiscovered, conventionally recoverable oil of 24 billion barrels, with a 5-percent chance of oil resources exceeding 34 billion barrels.

1995 Assessment Data For Oil And Gas Potential Of Alaska Federal Offshore | Bureau of Ocean Energy Management

www.boem.gov

Think about! Over 24 billion barrels and Biden has cancelled!
Biden administration cancels 3 major offshore oil lease sales
Why it matters: The move that all but ends the likelihood of the U.S. government
selling new drilling leases in coastal waters in 2022 comes as gas prices hit all-time highs and after President Biden spoke of supplying European nations with fuel to ease dependence on Russian energy following the invasion of Ukraine, per the Washington Post.

Biden administration cancels 3 major offshore oil lease sales in Gulf of Mexico and Alaska

Green groups hailed the move, energy firms accused the administration of discussing the need for more supply only to restrict it.

www.axios.com

B

 

[excalibur]

Or…..ORANGE MAN BAD!

The mook, aka Joe Biden, is now floating a new turd, that when he assumed office we were on the verge of a depression. Hmmm?

• Third-quarter 2020 GDP +33.4%

• Fourth-quarter 2020 GDP +6.9%

• First-quarter 2021 GDP +6.4%

Sure sounds like depression was right around the corner, eh.

Biden and his "adults" aren't even good at lying.

 

[Batcat]

How is one president totally destroying the US?

Pull your pants up. Stop mooning people. Take a couple of days to look around you at how Joe Biden is busy destroying our nation.

 

[LordBrownTrout]

Can't wait to hear from the Useful Idiots how this is Putin's fault.

Don't worry, they'll be blaming the housing crash on putin next.

 

[excalibur]

The doddering idiot is doing it again. He screws America yet again.

...

Steve Milloy, a former Trump-Pence EPA transition member and founder of JunkScience.com, traced these lease cancelations back to President Biden in remarks to FOX Business Wednesday.

"In Alaska, the problem was that the greens scared off virtually everyone," Milloy said. "It's expensive to explore and drill, and the greens made it pretty clear, they were going to make it even more difficult."

When former President Trump opened Alaska's Arctic National Wildlife Refuge for drilling, the lease sale attracted only three bidders, including the state of Alaska itself. Environmental activists have opposed ANWR drilling for decades, and Milloy suggested that pressure from climate activists scared oil companies away. That sale also took place in early 2021, amid the COVID-19 economic recession and when Biden – who had campaigned on restricting the oil industry – was about to become president.

"I blame Biden for all lack of production. He has scared away investment," Milloy told FOX Business. "I don't trust him in court defending leasing," he added, suggesting that the president will find "any excuse to not drill. They even tried to use the social cost of carbon decision to stop leasing."

"Unfortunately, this is becoming a pattern - the administration talks about the need for more supply and acts to restrict it," Frank Macchiarola, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute, told FOX Business in a statement Thursday. "As geopolitical volatility and global energy prices continue to rise, we again urge the administration to end the uncertainty and immediately act on a new five-year program for federal offshore leasing."

...​

Biden admin cancels massive oil and gas lease sale amid record-high gas prices

The Biden administration canceled one of the most high-profile oil and gas lease sales pending before the Department of the Interior Wednesday, as Americans face record-high prices at the pump, according to AAA.

www.foxbusiness.com

 

[occupied]

It's pretty weird how all the remaining oil reserves in this country are on public land.

 

[YoursTruly]

And this is the reality!
Crude oil production in Alaska averaged 448,000 barrels per day (b/d) in 2020,
the lowest level of production since 1976

Oil production in Alaska reaches lowest level in more than 40 years

www.eia.gov

The Alaska offshore is estimated to offer an average (mean) potential for undiscovered, conventionally recoverable oil of 24 billion barrels, with a 5-percent chance of oil resources exceeding 34 billion barrels.

1995 Assessment Data For Oil And Gas Potential Of Alaska Federal Offshore | Bureau of Ocean Energy Management

www.boem.gov

Think about! Over 24 billion barrels and Biden has cancelled!
Biden administration cancels 3 major offshore oil lease sales
Why it matters: The move that all but ends the likelihood of the U.S. government
selling new drilling leases in coastal waters in 2022 comes as gas prices hit all-time highs and after President Biden spoke of supplying European nations with fuel to ease dependence on Russian energy following the invasion of Ukraine, per the Washington Post.

Biden administration cancels 3 major offshore oil lease sales in Gulf of Mexico and Alaska

Green groups hailed the move, energy firms accused the administration of discussing the need for more supply only to restrict it.

www.axios.com

B

Make no mistake about this. Biden shutting down the oil lease doesn't reduce the existing oil production. Because these are leases that don't have a drilling rig on them. Most of them don't even the geological surveys to even know where exactly is a good spot to drill.
Biden isn't slowing down the production of existing wells. So Biden hasn't cancelled any oil now. And honestly, it might take the oil companies another 5 years to even send geologist to those leases.
But none the less, Biden needs to keep his nose out of the oil/gas business. He's a retarded idiot if he thinks people that make $1 million bonuses are going to take orders from someone who makes about $500K in salary.

The oil & gas business is none of his business.

 

[Harpy Eagle]

The doddering idiot is doing it again. He screws America yet again.

This same area has been put up for lease in 2007, 2008 and 2011, and 2015 and no company has ever wanted it, they still do not.

This is much ado about nothing

 

[johngaltshrugged]

But I thought it was all Putin's fault? Or greedy oil companies?
Funny how lefties never take into account actions & mere words from their side when defending diaper man & progressive policies.
They sic the greenies on an industry & make BS regulations to the point where it's too risky to invest the capital it takes to bring products to market

 

[YoursTruly]

The mook, aka Joe Biden, is now floating a new turd, that when he assumed office we were on the verge of a depression. Hmmm?

• Third-quarter 2020 GDP +33.4%

• Fourth-quarter 2020 GDP +6.9%

• First-quarter 2021 GDP +6.4%

Sure sounds like depression was right around the corner, eh.

Biden and his "adults" aren't even good at lying.

The red flood is 6 months away. If the GOP wants to, they could make the stretch for impeachment, just on the border issue alone. But I don't think we'll have to. If we can get some actual fiscal conservatives elected, and get rid of some of those CINO's (conservative in name only), we might be able to force Biden into some decent decision making.
It worked when Newt was House speaker during Clinton.

 

[excalibur]

Biden administration canceling Gulf of Mexico oil and gas lease sales

“Unfortunately, this is becoming a pattern — the administration talks about the need for more supply and acts to restrict it,’’ said Frank Macchiarola.

www.al.com

 

[healthmyths]

Make no mistake about this. Biden shutting down the oil lease doesn't reduce the existing oil production. Because these are leases that don't have a drilling rig on them. Most of them don't even the geological surveys to even know where exactly is a good spot to drill.
Biden isn't slowing down the production of existing wells. So Biden hasn't cancelled any oil now. And honestly, it might take the oil companies another 5 years to even send geologist to those leases.
But none the less, Biden needs to keep his nose out of the oil/gas business. He's a retarded idiot if he thinks people that make $1 million bonuses are going to take orders from someone who makes about $500K in salary.

The oil & gas business is none of his business.

No he isn't shutting down current production. Oil companies' planners though can use ANY excuses to RAISE prices and
very simple to point out these facts:
Biden administration cancels 3 major offshore oil lease sales
Why it matters: The move that all but ends the likelihood of the U.S. government
selling new drilling leases in coastal waters in 2022 comes as gas prices hit all-time highs and after President Biden spoke of supplying European nations with fuel to ease dependence on Russian energy following the invasion of Ukraine, per the Washington Post.

Biden administration cancels 3 major offshore oil lease sales in Gulf of Mexico and Alaska

Green groups hailed the move, energy firms accused the administration of discussing the need for more supply only to restrict it.

www.axios.com

So consequently they raise their prices of current oil, refineries raise prices because oil producers raised their prices, and therefore gas stations HAVE to raise their prices... EVEN though production hasn't been affected YET!
But the planners are looking at the future. Biden wants to eliminate fossil fuels. He has said so. And these lease cancellations are the beginning so again the planners are saying ..."let's get ours while we can!"!!!

 

[Moonglow]

The doddering idiot is doing it again. He screws America yet again.

...​

​

Steve Milloy, a former Trump-Pence EPA transition member and founder of JunkScience.com, traced these lease cancelations back to President Biden in remarks to FOX Business Wednesday.​

​

"In Alaska, the problem was that the greens scared off virtually everyone," Milloy said. "It's expensive to explore and drill, and the greens made it pretty clear, they were going to make it even more difficult."​

​

When former President Trump opened Alaska's Arctic National Wildlife Refuge for drilling, the lease sale attracted only three bidders, including the state of Alaska itself. Environmental activists have opposed ANWR drilling for decades, and Milloy suggested that pressure from climate activists scared oil companies away. That sale also took place in early 2021, amid the COVID-19 economic recession and when Biden – who had campaigned on restricting the oil industry – was about to become president.​

​

"I blame Biden for all lack of production. He has scared away investment," Milloy told FOX Business. "I don't trust him in court defending leasing," he added, suggesting that the president will find "any excuse to not drill. They even tried to use the social cost of carbon decision to stop leasing."​

​

"Unfortunately, this is becoming a pattern - the administration talks about the need for more supply and acts to restrict it," Frank Macchiarola, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute, told FOX Business in a statement Thursday. "As geopolitical volatility and global energy prices continue to rise, we again urge the administration to end the uncertainty and immediately act on a new five-year program for federal offshore leasing."​

​

...​

Biden admin cancels massive oil and gas lease sale amid record-high gas prices

The Biden administration canceled one of the most high-profile oil and gas lease sales pending before the Department of the Interior Wednesday, as Americans face record-high prices at the pump, according to AAA.

www.foxbusiness.com

You never read the article or you would know why..