Biden imposes a 60 day ban on drilling permits on federal lands and waters

[Moonglow]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

US Oil Rig Count
267.00 for Wk of Dec 31 2020


The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

Rig count is a very good indicator.. When Obama took office the rig count went higher than it had been in 40 years for one reason.. The ppb went to $100

The price of gas declined in 2016 which causes wells to be capped and less drilling of new ones.

U.S.: annual gas prices 2023 | Statista

In 2023, customers at U.S.

www.statista.com

 

[surada]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

Not at 53 dollars a barrel. Our lift costs are the highest in the world,

Breakeven pricing in GoM deepwater is ~30 $/bbl

That sounds right.. I was thinking $29.. but its been while since I looked. Most of the 3000 wells in the Gulf are pretty shallow.. What are you calling deep water?

 

[Moonglow]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

US Oil Rig Count
267.00 for Wk of Dec 31 2020


The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

America is a growing country- and our economy has been growing. Shouldn't our oil capacity be growing as well?

The Caravans are on the way, we can expect millions of new Illegals coming quickly, and they will all be driving old gas guzzling cars.

Not during a pandemic with 50 year highs in unemployment.

 

[Vel]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

What families, this ban is on issuing anymore permits those already issued can still be used..

Families of service companies mainly. They don't have deep pockets. They will furlough their employees. It's already happened before back in 2010.

But there will be a trickle down affect on all businesses in the region.

If you have ever worked in the petroleum industry you know it is a feast or famine type of operation it depends on the price of crude. Right now there is an oil glut and that will lay folks off also, not a lack of more permits for exploration.

Dec 21, 2018,08:52am EST
America's Oil And Gas Reserves Double With Massive New Permian Discovery

America's Oil And Gas Reserves Double With Massive New Permian Discovery

The United States Geological Survey just identified the world's largest unconventional oil and gas potential buried within the Permian basin, containing over 46 billion barrels of oil and 280 trillion cubic feet of natural gas.

www.forbes.com

Ooh.. The excuse making begins. Those job losses will be caused by Biden and the bad policies he champions. Nice job leftists. How many more people do you think you can add to the welfare rolls in the first 6 months of this illegitimate farce?

There are plenty of jobs out there try getting one.

I'm fortunate enough not to need to do that however, after a few weeks of Beijing Biden in the White House there will be far fewer jobs available. We were at 2.3% unemployment in my county before Biden's Chinese virus came. Do you really think the demented fool you placed in office can get an economy to produce those results?

 

[Moonglow]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

What families, this ban is on issuing anymore permits those already issued can still be used..

Families of service companies mainly. They don't have deep pockets. They will furlough their employees. It's already happened before back in 2010.

But there will be a trickle down affect on all businesses in the region.

If you have ever worked in the petroleum industry you know it is a feast or famine type of operation it depends on the price of crude. Right now there is an oil glut and that will lay folks off also, not a lack of more permits for exploration.

Dec 21, 2018,08:52am EST
America's Oil And Gas Reserves Double With Massive New Permian Discovery

America's Oil And Gas Reserves Double With Massive New Permian Discovery

The United States Geological Survey just identified the world's largest unconventional oil and gas potential buried within the Permian basin, containing over 46 billion barrels of oil and 280 trillion cubic feet of natural gas.

www.forbes.com

Ooh.. The excuse making begins. Those job losses will be caused by Biden and the bad policies he champions. Nice job leftists. How many more people do you think you can add to the welfare rolls in the first 6 months of this illegitimate farce?

There are plenty of jobs out there try getting one.

I'm fortunate enough not to need to do that however, after a few weeks of Beijing Biden in the White House there will be far fewer jobs available. We were at 2.3% unemployment in my county before Biden's Chinese virus came. Do you really think the demented fool you placed in office can get an economy to produce those results?

Trump didn't help either he had the highest unemployment since 1929. What in the hell do you expect right now?

 

[surada]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

What does that have to do with anything? Are you arguing there will be no negative consequences to Biden's TEMPORARY ban on drilling permits on federal lands and waters?

Nobody really want Federal Oil leases and they usually sit idle.. There are more rules and safety regs on Federal Lands.

 

[ding]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

Not at 53 dollars a barrel. Our lift costs are the highest in the world,

Breakeven pricing in GoM deepwater is ~30 $/bbl

That sounds right.. I was thinking $29.. but its been while since I looked. Most of the 3000 wells in the Gulf are pretty shallow.. What are you calling deep water?

Shale oil break even pricing depends on whether one is in the sweet spot of the field or on the fringes. Some break evens are low say in the $30 to $40 range and others are high ($65 range). Those guys have to be cost conscious to make a profit. Those wells decline rapidly.

 

[percysunshine]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

So, you are going back to getting your oil from Saudi Arabia, Russia and other enemies of America?

Why would we? We have a surplus, without having to do any of that drilling, and other forms of energy right now are more economical.

Sleepy Joe has also cut down on some of America's sources of oil, in the ANWR, the Keystone Pipeline, fracking on federal lands, etc. Sure, we may have a surplus now, but that's no guarantee. Further, surpluses can be sold abroad to both our friends and foes, undercutting the market for Iran and Venezuela and other suspect terror states.

There's been little interest in ANWR in the current energy economy. Why should we sell surpluses? Makes more sense to keep it underground until and IF we ever need it. Given the expansion of other energy sources that are less costly, we may never need to drill there, so why rush it ruin a pristine wilderness?

Rolling back ANWR is no big deal. Putting Americans out of work along the Gulf coast to solve a problem that doesn't exist and wouldn't solve it if it did exist is. Especially since this is just being done for optics.

Thats dems trying to destroy the economy in Texas and other southern states.

How they have the Permian basin to draw from.

For how long?

The USGS estimates that over 46 billion barrels of oil, 280 trillion cubic feet of gas, and 20 billion barrels of natural gas liquids are trapped in these low-permeability shale formations. To better understand just how staggering these numbers are, think about this: at the end of 2017, total U.S. proven reserves of crude oil hovered around 40 billion barrels. For natural gas, figures stood around 465 trillion cubic feet (tcf). The new upward revision of Permian resources represents a more than 100% and 65% increase in U.S. oil and gas reserves, respectively, if they can be extracted economically.

America's Oil And Gas Reserves Double With Massive New Permian Discovery

The United States Geological Survey just identified the world's largest unconventional oil and gas potential buried within the Permian basin, containing over 46 billion barrels of oil and 280 trillion cubic feet of natural gas.

www.forbes.com

The USGS is like the post office.

Those aren't recoverable reserve numbers. Those are original oil and gas in place. Recoveries are quite low in shale.

I know exactly what the numbers are. The USGS numbers are broad brush guesses because they do not have all the private data necessary to evaluate the petroleum systems.

They are actually good ball park estimates of oil in place based upon statisics (i.e. other basins) and estimates of areal extent and the thickness of the hydrocarbon bearing intervals.

The geochemical data is usually private. Federal leases have more data available.

 

[ding]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

What does that have to do with anything? Are you arguing there will be no negative consequences to Biden's TEMPORARY ban on drilling permits on federal lands and waters?

Nobody really want Federal Oil leases and they usually sit idle.. There are more rules and safety regs on Federal Lands.

I don't know any operator who doesn't care if he loses a lease. The leases themselves have clauses about cessation of production and the steps that must be taken to not lose a lease. Most leases are held by production and are not at risk of being lost. I was an oil and gas engineer for 36 years. I just retired three weeks ago. I know what I am talking about.

 

[surada]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

Not at 53 dollars a barrel. Our lift costs are the highest in the world,

Breakeven pricing in GoM deepwater is ~30 $/bbl

That sounds right.. I was thinking $29.. but its been while since I looked. Most of the 3000 wells in the Gulf are pretty shallow.. What are you calling deep water?

Shale oil break even pricing depends on whether one is in the sweet spot of the field or on the fringes. Some break evens are low say in the $30 to $40 range and others are high ($65 range). Those guys have to be cost conscious to make a profit. Those wells decline rapidly.

I know.. That's why when the ppb is low those jobs are at risk.

 

[ding]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

So, you are going back to getting your oil from Saudi Arabia, Russia and other enemies of America?

Why would we? We have a surplus, without having to do any of that drilling, and other forms of energy right now are more economical.

Sleepy Joe has also cut down on some of America's sources of oil, in the ANWR, the Keystone Pipeline, fracking on federal lands, etc. Sure, we may have a surplus now, but that's no guarantee. Further, surpluses can be sold abroad to both our friends and foes, undercutting the market for Iran and Venezuela and other suspect terror states.

There's been little interest in ANWR in the current energy economy. Why should we sell surpluses? Makes more sense to keep it underground until and IF we ever need it. Given the expansion of other energy sources that are less costly, we may never need to drill there, so why rush it ruin a pristine wilderness?

Rolling back ANWR is no big deal. Putting Americans out of work along the Gulf coast to solve a problem that doesn't exist and wouldn't solve it if it did exist is. Especially since this is just being done for optics.

Thats dems trying to destroy the economy in Texas and other southern states.

How they have the Permian basin to draw from.

For how long?

The USGS estimates that over 46 billion barrels of oil, 280 trillion cubic feet of gas, and 20 billion barrels of natural gas liquids are trapped in these low-permeability shale formations. To better understand just how staggering these numbers are, think about this: at the end of 2017, total U.S. proven reserves of crude oil hovered around 40 billion barrels. For natural gas, figures stood around 465 trillion cubic feet (tcf). The new upward revision of Permian resources represents a more than 100% and 65% increase in U.S. oil and gas reserves, respectively, if they can be extracted economically.

America's Oil And Gas Reserves Double With Massive New Permian Discovery

The United States Geological Survey just identified the world's largest unconventional oil and gas potential buried within the Permian basin, containing over 46 billion barrels of oil and 280 trillion cubic feet of natural gas.

www.forbes.com

The USGS is like the post office.

Those aren't recoverable reserve numbers. Those are original oil and gas in place. Recoveries are quite low in shale.

I know exactly what the numbers are. The USGS numbers are broad brush guesses because they do not have all the private data necessary to evaluate the petroleum systems.

They are actually good ball park estimates of oil in place based upon statisics (i.e. other basins) and estimates of areal extent and the thickness of the hydrocarbon bearing intervals.

The geochemical data is usually private. Federal leases have more data available.

Yeah, but their estimates don't rely on that. It's more about seismic data and offset well log data. And on top of that they make a scientific guess as to what still might be discovered which is based upon statistical information from other basins.

 

[surada]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

What does that have to do with anything? Are you arguing there will be no negative consequences to Biden's TEMPORARY ban on drilling permits on federal lands and waters?

Nobody really want Federal Oil leases and they usually sit idle.. There are more rules and safety regs on Federal Lands.

I don't know any operator who doesn't care if he loses a lease. The leases themselves have clauses about cessation of production and the steps that must be taken to not lose a lease. Most leases are held by production and are not at risk of being lost. I was an oil and gas engineer for 36 years. I just retired three weeks ago. I know what I am talking about.

There were thousands of unused oil leases on Federal Lands when Dubya was president.

Cool.. Did you drill on Federal Lands much?

You work Stateside?

 

[C_Clayton_Jones]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

And appropriately so, given how reckless and irresponsible the previous administration.

 

[ding]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

What does that have to do with anything? Are you arguing there will be no negative consequences to Biden's TEMPORARY ban on drilling permits on federal lands and waters?

Nobody really want Federal Oil leases and they usually sit idle.. There are more rules and safety regs on Federal Lands.

I don't know any operator who doesn't care if he loses a lease. The leases themselves have clauses about cessation of production and the steps that must be taken to not lose a lease. Most leases are held by production and are not at risk of being lost. I was an oil and gas engineer for 36 years. I just retired three weeks ago. I know what I am talking about.

There were thousands of unused oil leases on Federal Lands when Dubya was president.

Cool.. Did you drill on Federal Lands much?

You work Stateside?

I've worked Mid-Continent (fee land), San Juan Basin (BLM - Federal Land) and GoM DW (BSEE - Federal Water). Gainesville, Midland, Houston and traveled around the world for special projects.

 

[surada]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

What does that have to do with anything? Are you arguing there will be no negative consequences to Biden's TEMPORARY ban on drilling permits on federal lands and waters?

Nobody really want Federal Oil leases and they usually sit idle.. There are more rules and safety regs on Federal Lands.

I don't know any operator who doesn't care if he loses a lease. The leases themselves have clauses about cessation of production and the steps that must be taken to not lose a lease. Most leases are held by production and are not at risk of being lost. I was an oil and gas engineer for 36 years. I just retired three weeks ago. I know what I am talking about.

There were thousands of unused oil leases on Federal Lands when Dubya was president.

Cool.. Did you drill on Federal Lands much?

You work Stateside?

I've worked Mid-Continent (fee land), San Juan Basin (BLM - Federal Land) and GoM DW (BSEE - Federal Water). Gainesville, Midland, Houston and traveled around the world for special projects.

You know Ghawar?

 

[ding]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

What does that have to do with anything? Are you arguing there will be no negative consequences to Biden's TEMPORARY ban on drilling permits on federal lands and waters?

Nobody really want Federal Oil leases and they usually sit idle.. There are more rules and safety regs on Federal Lands.

I don't know any operator who doesn't care if he loses a lease. The leases themselves have clauses about cessation of production and the steps that must be taken to not lose a lease. Most leases are held by production and are not at risk of being lost. I was an oil and gas engineer for 36 years. I just retired three weeks ago. I know what I am talking about.

There were thousands of unused oil leases on Federal Lands when Dubya was president.

Cool.. Did you drill on Federal Lands much?

You work Stateside?

I've worked Mid-Continent (fee land), San Juan Basin (BLM - Federal Land) and GoM DW (BSEE - Federal Water). Gainesville, Midland, Houston and traveled around the world for special projects.

You know Ghawar?

No. I've never worked ME. World class reservoirs though.

 

[surada]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

And appropriately so, given how reckless and irresponsible the previous administration.

Trump didn't know anything and he wasn't interested. .He just saw dollar signs.. forgetting everything else.

 

[ding]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

And appropriately so, given how reckless and irresponsible the previous administration.

Not sure fuckery justifies fuckery, but feel free to give the hall pass because he's your guy.

 

[surada]

Too bad it's just a political grandstanding ploy to satiate his constituents. The finding will be that a permanent ban on drilling would require congressional approval and keeping the companies that hold the leases whole. So it really won't accomplish anything more than pulling the wool over the eyes of his constituents. Too bad for the American families that will be negatively affected by this action.

Biden administration pauses federal drilling program in climate push

U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

www.reuters.com

There's no reason to drill on Federal Lands or in national parks when there's a glut of oil on the market and the ppb is so low.

People drill for one reason and one reason only; to make a profit. And they will continue drilling until it is no longer profitable. So it is really up to them what they do with their money. Obviously, they believe they are making money in today's market.

The US Oil Rig Count measures the number of oil rigs functioning in the United States. This indicator is important to track because it can give an idea of how much oil production is occuring. Historically, US Oil Rigs peaked in late 2014. The total number of oil rigs reached as high as 1609 before being cut to just 325 within 2 years.

US Oil Rig Count is at a current level of 267.00, up from 264.00 last week and down from 677.00 one year ago. This is a change of 1.14% from last week and -60.56% from one year ago.

US Oil Rig Count

In depth view into US Oil Rig Count including historical data from 1987, charts and stats.

ycharts.com

.

What does that have to do with anything? Are you arguing there will be no negative consequences to Biden's TEMPORARY ban on drilling permits on federal lands and waters?

Nobody really want Federal Oil leases and they usually sit idle.. There are more rules and safety regs on Federal Lands.

I don't know any operator who doesn't care if he loses a lease. The leases themselves have clauses about cessation of production and the steps that must be taken to not lose a lease. Most leases are held by production and are not at risk of being lost. I was an oil and gas engineer for 36 years. I just retired three weeks ago. I know what I am talking about.

There were thousands of unused oil leases on Federal Lands when Dubya was president.

Cool.. Did you drill on Federal Lands much?

You work Stateside?

I've worked Mid-Continent (fee land), San Juan Basin (BLM - Federal Land) and GoM DW (BSEE - Federal Water). Gainesville, Midland, Houston and traveled around the world for special projects.

You know Ghawar?

No. I've never worked ME. World class reservoirs though.

Mostly in Arabia for us , but also Kuwait and Libya. not me.. my family.

 

[ding]

And the pulling of wool over the eyes begins.