Concerned American
Diamond Member
There it is--you finally came out and admitted it. You're a commie.Oil prices are always sensitive. The lack of drilling for new fields alone is going to lock us into higher prices in the future. The irony is that people will end up burning anything to survive for themselves and business and manufacturing and that in itself may make more pollution. You hate Putin and he according to you controlled Trump. From the expectation of Progs gaining power to now the Russians oil worth has gone from 4 trillion to 6.5 trillion. It seems Beijing Joe is more the friend.Across the USA, only about 9% of oil and gas production occurs on federal land (its much higher in federal waters). But New Mexico and Wyoming have the highest fraction of federal land in their oil and gas properties, and their budget is especially sensitive to oil and gas revenue.
How much oil/gas produced in one year?
U.S. oil production reached 12.0 million barrels per day (b/d) in December 2018 and 12.8 million b/d in December 2019
9% of 12.0 million barrels is over 1 million barrels a day.
Biden's moratorium on leasing federal lands and waters for oil and gas drilling is expected to have âno effectsâ until 2022, the Energy Information Administration (EIA) said this week.
Biden federal leasing pause wonât impact energy production this year, agency says
President Bidenâs temporary moratorium on leasing federal lands and waters for oil and gas drilling is expected to have âno effectsâ until 2022, the Energy Information Administration (EIA) said thiâŚthehill.com
Maybe Biden and his idiots ought to explain this then:
De Haan told âMornings with Maria" that âthe limitations on new drilling could eventually become an issue.â
President Bidenâs energy actions have included temporarily suspending the issuance of oil and gas permits on federal lands and waters and the cancelation of the Keystone XL oil pipeline project in a series of orders aimed at combating climate change.
De Haan also pointed to Biden's âmassive infrastructure planâ and noted the concern of âhow to pay for itâ could impact the price at the pump.
So folks if you were a gasoline buyer and you saw that the supply was going to be diminished due to Biden's cutting exploration onBiden's energy plan contributing to gas price increases: GasBuddy analyst
GasBuddy analyst Patrick De Haan said consumers could see a national average of $3 per gallon this year.www.foxbusiness.com
Federal land that currently provides 9% of all oil/gas, would you logically conclude that the wholesale price of gas would be increasing and therefore... you'd be raising the retail price accordingly?
And if the supply is reduced by Biden's dumb ass moves, where will the gas buyer get increasing demand for gas? Foreign.
Remember "Barack Obama said he wants the U.S. to become one of Brazilâs âbest customersâ
Now Biden is fulfilling Obama's desire by cutting back USA production. How strategically stupid!Obama Tells Rousseff U.S. to Be Among Brazilâs âBest Customersâ
President Barack Obama said he wants the U.S. to become one of Brazilâs âbest customersâ when recent oil discoveries come online and pledged to work with his counterpart, Dilma Rousseff, to deepen trade ties with Latin Americaâs biggest economy.www.bloomberg.com
We have glut of oil on the market. I am surprised that this level of ignorance about oil production persists.
There is plenty of oil and gas. The trick after a year of NO DEMAND is to get the PPB high enough that domestic producers won't go out of business... unless you want to nationalize our oil industry.