Biden says Americans will pay high gas prices for as long as it takes

Biden has cut off-shore drilling.....and that's not considered federal land.
Leases and drill permits are two different things.
Oil and mining severance taxes are collected by states.Also...the taxes and intangible costs of setting up a well for drilling are going up.
But saying that the federal government has 9000 open leases that aren't being used doesn't mean what it sounds like.
If an oil producer had a lease with the federal government in the past and the well on that lease isn't producing....they won't renew the lease. Biden simply renewed leases on spent wells, or non-producing wells to make it look like he isn't cutting off the supply.
Since the topic being discussed is the prices we are paying at the pump, granting leases for offshore drilling is irrelevant because after those leases are issued , it will take about 3 years to bring an offshore drilling platform online. In some cases it has taken as much as 5 years.

Biden announced a 5 year offshore drilling plan on July 1. The draft of plan has not been complete so details are not available.

For years drilling on federal lands has been slow, not because of delays in leases and permits but because after exploration, the potential profit from the wells are not high enough to justify the cost. On most federal land offered for lease, the cost of oil would have be about $90 to be profitable. This is not due to the cost the wells but cost of infrastructure needed for storage and transport of the product.

What taxes are going up oil? There is no federal tax but there is a 15% depletion allowance plus intangible drilling costs deduction available on income tax. That is in addition to a long list of other cost deductions that most companies use. State taxes are pretty reasonable. .09% in Oklahoma, 4.6% in Texas plus there are deductions.

The bottom line is that it is not the administration that limits drilling but rather the potential profits vs the cost. There is huge untapped reserve of oil both on land and offshore. The limiting factor is the cost of getting it out of the ground, transporting it and selling at a price that is profitable.
 
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I used the national average because I was showing changes in oil prices.
The price has gone up much more in several blue states.
So dropping the price 50 cents isn't helping much.
CA is charging almost as much as they charge in Germany.....which is why so few Germans have their own car. Most German women never bothered getting a driver's license.
States like CA are being reckless because they don't have the public transit system in place to get people to work.
When I lived in Germany I didn't need a car because I could get just about anywhere without one.
And because of all of the car break-ins in big cities...people are trying to find other ways of getting to work.
 
Since the topic being discussed is the prices we are paying at the pump, granting leases for offshore drilling is irrelevant because after those leases are issued , it will take about 3 years to bring an offshore drill platform online. In some cases it has taken as much as much as 5 years.

Biden announced a 5 year offshore drilling plan on July 1. The draft of plan has not been complete so details are not available.

For years drilling on federal lands has been slow, not because of delays in leases and permits but because after exploration, the potential profit from the wells are not high enough to justify the cost. On most federal land offered for lease, the cost of oil would have be about $90 to be profitable. This not due to the cost the wells but cost of infrastructure needed for storage and transport of the product.

What taxes are going up oil? There is no federal tax but there is a 15% depletion allowance plus intangible drilling costs deduction available on income tax. That is in addition to a long list of other cost deductions that most companies use. State taxes are pretty reasonable. .09% in Oklahoma, 4.6% Texas plus there are deductions.

The bottom line is that it is not the administration that limits drilling but rather the potential profits vs the cost. There is huge untapped reserves of oil both on land and offshore. The limiting factor is the cost of getting out the ground and selling at a price that is profitable.
Exactly. Biden has made it less profitable.
 
The price has gone up much more in several blue states.
So dropping the price 50 cents isn't helping much.
CA is charging almost as much as they charge in Germany.....which is why so few Germans have their own car. Most German women never bothered getting a driver's license.
States like CA are being reckless because they don't have the public transit system in place to get people to work.
When I lived in Germany I didn't need a car because I could get just about anywhere without one.
And because of all of the car break-ins in big cities...people are trying to find other ways of getting to work.
In Europe, public transportation in and to major cities have been well established for over a hundred years. Thanks to auto makers who convinced Americans that they needed two cars in every garage and owed themselves a trip to see American in their new Chevrolet, Congress was convicted to build an Interstate highway system that eventually cost over 500 billion dollars and today it estimated that we need to spend and equal amount on upgrades. The bottom line is that we will never have a national rapid transit system and neither will most large cities. That opportunity is long gone.
 
In Europe, public transportation in and to major cities have been well established for over a hundred years. Thanks to auto makers who convinced Americans that they needed two cars in every garage and owed themselves a trip to see American in their new Chevrolet, Congress was convicted to build an Interstate highway system that eventually cost over 500 billion dollars and today it estimated that we need to spend and equal amount on upgrades. The bottom line is that we will never have a national rapid transit system and neither will most large cities. That opportunity is long gone.
Have you ever lived in Europe?

If the USA was as crowded as Europe we would have cities that stretch from one coast to the other. But because we have so much open space....a car is a rational option. The problem is big cities.
If they didn't let people drive their cars in the city and instead used mass-transit....this wouldn't be a problem.
But because of crime...mass-transit isn't a viable option.
 
Have you ever lived in Europe?

If the USA was as crowded as Europe we would have cities that stretch from one coast to the other. But because we have so much open space....a car is a rational option. The problem is big cities.
If they didn't let people drive their cars in the city and instead used mass-transit....this wouldn't be a problem.
But because of crime...mass-transit isn't a viable option.
I'm beginning to believe cars are no longer a viable option in the cities. In Seattle area, it can take an hour and half to get to work in a car. We are adding a lot of mass transit but it will take 10 to 15 years more to see it completed. Parking in downtown Seattle is $10 to $25/hr and in surrounding cities parking is going up rapidly.
 
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I'm begin believe cars a not longer a viable in the cities.
Maybe walking in formation is the only option left.

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That is not what is happening. Only about 15% of oil produced in US comes from federal leases. Most of the new wells going down are on privately owned land. The decision to produce more oil lies not with administration but oil companies who have increased drilling by 60% over last 12 months.

Last month, Biden urged the nation's largest oil companies to increase production to help reduce the burden of gas prices. He also stated his long term commitment to lower our dependence on fossil fuels but not by driving prices higher.

So. His record on attacking oil sucks. Reason they dont like Federal leases is because of people like Biden in office. Spend money and the fed backs out and screws them
 
So. His record on attacking oil sucks. Reason they dont like Federal leases is because of people like Biden in office. Spend money and the fed backs out and screws them
Biden like all presidents understand that the nation needs oil. This is why he recently announced a 5 year plan for offshore drilling. Like most presidents, Biden understands that we have to get off fossil fuels. Although we would like to see that happen sooner rather later, the truth is it has to be a slow gradual process driven by the market, not Washington. There will never be a consensus in Washington to eliminate fossil fuels. We will just adapt to ever increasing problems caused by climate change.

IMHO, we will never seriously reduce our demand for fossil fuel until there is too few us to matter.
 
Biden like all presidents understand that the nation needs oil. This is why he recently announced a 5 year plan for offshore drilling. Like most presidents, Biden understands that we have to get off fossil fuels. Although we would like to see that happen sooner rather later, the truth is it has to be a slow gradual process driven by the market, not Washington. There will never be a consensus in Washington to eliminate fossil fuels. We will just adapt to ever increasing problems caused by climate change.

IMHO, we will never seriously reduce our demand for fossil fuel until there is too few us to matter.
Actions speak louder than words. His actions have limited oil production to oppose the green money making machine. Then he lies and says im trying for more oil drilling as states sue him to drill.

Secondly we are the Saudi Arabia of Natural gas and still have large quantities of coal. Fossil fuels is far from gone here. You are just an excuse maker for Biden.
 

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