Biden claimed that U.S. oil producers have "plenty of opportunities" to drill domestically. Oil execs call him a liar

[Ray From Cleveland]

So it's all about 'proposed regulations' NOT 'actually imposed regulations' that are raising prices.

There are ALREADY many leases and permit not being used.
If the oil companies REALLY wanted to drill, there are already available leases.

You are making it say that BIDEN has limited/stopped the places they can drill.
Granting more leases would just give more NEW options, when in reality there are already options available.

Biden halts oil, gas leases amid legal fight on climate cost

The Biden administration is delaying decisions on new federal oil and gas drilling and other energy-related actions.

apnews.com

 

[surada]

nope it’s a cold hard reality. BP certainly bares most if it, but xiden failed bigly on his response

They aren't BP executives.

 

[Winco]

Biden halts oil, gas leases amid legal fight on climate cost

The Biden administration is delaying decisions on new federal oil and gas drilling and other energy-related actions.

apnews.com

Biden hasn't cancelled existing leases.
He talked about halting NEW leases.

Oil Companies can still drill on existing leases.
Why are oil companies choosing NOT to expand drilling on the current unused leases? Huh Ray?
Why do we need NEW leases when there is already plenty of unused current leases.

 

[Winco]

Biden halts oil, gas leases amid legal fight on climate cost

The Biden administration is delaying decisions on new federal oil and gas drilling and other energy-related actions.

apnews.com

Despite you quoting biden about NEW leases,
Are there unused current leases Ray From Cleveland ?

 

[Ray From Cleveland]

Biden hasn't cancelled existing leases.
He talked about halting NEW leases.

Oil Companies can still drill on existing leases.
Why are oil companies choosing NOT to expand drilling on the current unused leases? Huh Ray?
Why do we need NEW leases when there is already plenty of unused current leases.

There is a difference between drilling leases and exploration leases. The leases talked about are not drilling leases. A lot of money goes into the exploration process because they really don't know what's down there. It's not like looking down a well and seeing water at the bottom. Oh, there is oil and gas, but the question that needs to be answered is if there is enough to invest the millions to extract it and still make a profit.

And again, red tape is a huge player. You have to face facts that this is an anti-energy administration. They made that evident during their primary run, Dementia made that evident the day he took office and stopped the Keystone, he made it evident when our largest gasoline pipeline got hacked by Russians and Dementia said it's a private matter and none of governments business.

So now the oil companies do the research needed to determine their investment strategy. They spend the millions to find that yes, this particular patch of land does have enough resources to make the drilling investment. Now Biden (or likely one of his bureaucracies) doesn't allow the drilling to take place. A lot of money down the drain, so why risk it?

Psaki has made the claim about “unused” federal leases before. It has become a line the White House pivots to when pressed to explain why it isn’t doing more to support American oil and gas production – with soaring demand putting upward pressure on prices and with much of Europe at the mercy of its top energy provider, Russia. Key facts about federal leases:

• The law already requires companies to either produce oil and/or gas on leases or return the leases to the government – the so-called “use it or lose it” provision – generally in the first 10 years.
• When a company acquires a lease, it makes a significant financial investment at the beginning of the lease in the form of a non-refundable bonus bid and pays additional rent until and unless it begins producing.
• For federal onshore, the Mineral Leasing Act prevents any one company from locking up unproductive excessive federal acreage.
• Developing a lease takes years and substantial effort to determine whether the underlying geology holds commercial quantities of oil and/or gas. The lengthy process to develop them from a lease often is extended by administrative and legal challenges at every step along the way.

The Red Herring of Unused Leases

Let’s address two claims heard about American natural gas and oil production amid the ongoing Russia-Ukraine crisis. The first, by some members of the Biden administration, including White House Press Secretary Jen Psaki on Thursday, is that American oil and natural gas producers are sitting on...

www.api.org

 

[struth]

They aren't BP executives.

nope they were the federal govt executives, charged with enforcing federal law…including FEMA, the national guard, etc they failed

 

[candycorn]

Meanwhile back in reality, during the Blob's last sale of drilling rights on public lands, there were 3 bidders for most of the leases.

 

[surada]

nope they were the federal govt executives, charged with enforcing federal law…including FEMA, the national guard, etc they failed

BP deliberately farmed out their safety requirements to different companies to avoid accountability before the fact.. it was about greed with speed.

 

[Foxfyre]

I like this comment: "He (Biden) has an 'America last' energy policy."

MSN

www.msn.com

Even if oil companies could increase production on the drastically reduced area they are allowed to produce it why should they? They can't do it for free and exploration takes mega $$$, time, manpower, equipment, and requires some time before any profit will be seen from the investment. The often irrational environmental restrictions and requirements on refineries mean that no significant refineries or increase in refining capacity has happened in the USA since the Ford Administration in 1976.

Biden has taken millions of acres of land off the table for oil exploration, shut down supply lines, reversed many of the relaxed regulation and incentive the Trump administration used to promote production. Further Biden has declared war on all fossil fuel industries with repeated warnings that they will be forced out of business. That is pretty poor incentive for oil companies to put out the effort to renovate, expand, grow, increase capacities.

 

[struth]

BP deliberately farmed out their safety requirements to different companies to avoid accountability before the fact.. it was about greed with speed.

The Admin response was a total failure...https://www.epw.senate.gov/public/index.cfm/press-releases-all?ID=74270ca0-802a-23ad-4120-1318d6a685ea&Issue_id=

NEW SENATE REPORT: FAILURE OF LEADERSHIP: PRESIDENT OBAMA AND THE FLAWED FEDERAL RESPONSE TO THE BP DISASTER

 

[Likkmee]

I like this comment: "He (Biden) has an 'America last' energy policy."

MSN

www.msn.com

Venzo oil workers make $15 a week. US earn $15 every half hour.
Do some math

 

[task0778]

You cannot tell everybody you will end the fossil fuel industry and then bitch when they aren't producing enough oil.

 

[DigitalDrifter]

Even if oil companies could increase production on the drastically reduced area they are allowed to produce it why should they? They can't do it for free and exploration takes mega $$$, time, manpower, equipment, and requires some time before any profit will be seen from the investment. The often irrational environmental restrictions and requirements on refineries mean that no significant refineries or increase in refining capacity has happened in the USA since the Ford Administration in 1976.

Biden has taken millions of acres of land off the table for oil exploration, shut down supply lines, reversed many of the relaxed regulation and incentive the Trump administration used to promote production. Further Biden has declared war on all fossil fuel industries with repeated warnings that they will be forced out of business. That is pretty poor incentive for oil companies to put out the effort to renovate, expand, grow, increase capacities.

Well exactly. Why would any oil producer want to invest in their future, when they know an entire political party wants to kill their industry.

 

[task0778]

Well exactly. Why would any oil producer want to invest in their future, when they know an entire political party wants to kill their industry.

And not just the producers but also the investors. When you know that the President makes no bones about ending the fossil fuel industry, and institutes policies that make the domestic production of oil more difficult, more expensive, more time-consuming, and more open to litigation into the teeth of the significant inflation of oil and gas prices, how are oil companies going to do anything else but hunker down and wait for a more advantageous business environment?

Are those rising prices all his fault? Not on my opinion, no. But rather than taking steps to encourage investments in oil production he is actively discouraging it and is not shy about saying so on one hand while bitching about oil producers creating more oil and gas. How is it in any way more environmentally sound to import Venezuelan oil that is far dirtier than US oil to refine, over our own resources? The democrats talk about jobs all the time, but are they not eliminating so many well-paying jobs with their war on fossil fuel?

 

[Foxfyre]

BP deliberately farmed out their safety requirements to different companies to avoid accountability before the fact.. it was about greed with speed.

BP spent about $62 BILLION to deal with the Deepwater Horizon oil spill in the Gulf. That's hardly avoiding accountablility. In the final analysis, BP was assigned 67% of the liability, Transocean (who leased the rig to BP) 30%, Halliburton (who poured the cement) 3%. Pretty much held unaccountable were Obama era government regulators/inspectors with competing interests, i.e. promoting economic development while protecting the public safety. They provided essentially no oversight. There is still considerable debate as to whether collusion or negligence on their part played a significant role in that disaster.

There must be a happy medium between non government regulation/oversight and the draconian rules and regulations intended to mostly strangle the fossil fuel industries. Donald Trump shot for that happy medium with excellent results. Biden has not.

 

[BlindBoo]

BP spent about $62 BILLION to deal with the Deepwater Horizon oil spill in the Gulf. That's hardly avoiding accountablility. In the final analysis, BP was assigned 67% of the liability, Transocean (who leased the rig to BP) 30%, Halliburton (who poured the cement) 3%. Pretty much held unaccountable were Obama era government regulators/inspectors with competing interests, i.e. promoting economic development while protecting the public safety. They provided essentially no oversight. There is still considerable debate as to whether collusion or negligence on their part played a significant role in that disaster.

There must be a happy medium between non government regulation/oversight and the draconian rules and regulations intended to mostly strangle the fossil fuel industries. Donald Trump shot for that happy medium with excellent results. Biden has not.

The expansion that ended in 2020 began under Obama after the 2008 campaign where both McCain and McObama were in a pissing contest over who wanted to drill more.

The Horizon disaster halted this leasing plan however:

"The Administration's strategy calls for: developing oil and gas resources in new areas, such as the Eastern Gulf of Mexico, more than 125 miles from Florida's coast; increasing oil and gas exploration in frontier areas, such as the Arctic Ocean and the Mid and South Atlantic Ocean; and protecting ocean areas that are simply too special to drill, such as Alaska's Bristol Bay."

Secretary Salazar Announces Comprehensive Strategy for Offshore Oil and Gas Development and Exploration

ANDREWS AIR FORCE BASE, MD – Secretary of the Interior Ken Salazar today announced that, as part of a comprehensive strategy for strengthening the nation's energy security and reducing America's dependence on foreign oil, the Obama Administration will expand oil and gas development and...

www.doi.gov

 

[Foxfyre]

The expansion that ended in 2020 began under Obama after the 2008 campaign where both McCain and McObama were in a pissing contest over who wanted to drill more.

The Horizon disaster halted this leasing plan however:

"The Administration's strategy calls for: developing oil and gas resources in new areas, such as the Eastern Gulf of Mexico, more than 125 miles from Florida's coast; increasing oil and gas exploration in frontier areas, such as the Arctic Ocean and the Mid and South Atlantic Ocean; and protecting ocean areas that are simply too special to drill, such as Alaska's Bristol Bay."

Secretary Salazar Announces Comprehensive Strategy for Offshore Oil and Gas Development and Exploration

ANDREWS AIR FORCE BASE, MD – Secretary of the Interior Ken Salazar today announced that, as part of a comprehensive strategy for strengthening the nation's energy security and reducing America's dependence on foreign oil, the Obama Administration will expand oil and gas development and...

www.doi.gov

Well I'm pretty sure Biden and this administration is oblivious to any strategy proposed in 2010.