Biden to resume federal oil and gas development under stricter rules as ‘social cost of carbon’ is battled in court

[1srelluc]

The Biden administration late Friday said it would resume plans for oil and gas development on federal lands after another court maneuver — this one in its favor. It’s the latest in a series of stops and starts for this portion of the president’s cleaner energy and climate-change agenda.

Interior, at least temporarily, will place the social value at around $51 per ton of greenhouse gases emitted, the Obama-era value that Biden had matched. It is far higher than the roughly $10 a ton imposed by the Trump administration, early last year.

Biden to resume federal oil and gas development under stricter rules as ‘social cost of carbon’ is battled in court

Good lord, just when you thought Tater and his band-o-turds could not get anymore retarded.

I'm sure oil company heads will be all over that 5X impact fee increase.

The dem's polling must be horrible for them to even consider it.

 

[beautress]

The Biden administration late Friday said it would resume plans for oil and gas development on federal lands after another court maneuver — this one in its favor. It’s the latest in a series of stops and starts for this portion of the president’s cleaner energy and climate-change agenda.

Interior, at least temporarily, will place the social value at around $51 per ton of greenhouse gases emitted, the Obama-era value that Biden had matched. It is far higher than the roughly $10 a ton imposed by the Trump administration, early last year.

Biden to resume federal oil and gas development under stricter rules as ‘social cost of carbon’ is battled in court

Good lord, just when you thought Tater and his band-o-turds could not get anymore retarded.

I'm sure oil company heads will be all over that 5X impact fee increase.

The dem's polling must be horrible for them to even consider it.

I think they should bring horseback transportation around again. Grass is processed into energy quietly inside the horse and what comes out of the muffler is good for the garden. Small towns would benefit.

 

[toobfreak]

The dem's polling must be horrible for them to even consider it.

Democrats realize that another 6 months with Joe Bedpan and there won't be any democrat party left to save.

"Vote for us and we'll produce more oil to lower gas costs-- -- -- until AFTER the election."

 

[task0778]

At a time like this Biden is going to make it harder and more expensive to drill for oil and gas. All that blaming the oil companies is bullshit, he told us all along he was going to end the fossil fuel industry and he is doing exactly that. And he doesn't give a flyin' fuck how much that hurts the economy, especially to lower income people and small businesses who are trying to make ends meet.

November 2024 cannot come too soon to get rid of that SOB, assuming he doesn't resign first.

 

[White 6]

The Biden administration late Friday said it would resume plans for oil and gas development on federal lands after another court maneuver — this one in its favor. It’s the latest in a series of stops and starts for this portion of the president’s cleaner energy and climate-change agenda.

Interior, at least temporarily, will place the social value at around $51 per ton of greenhouse gases emitted, the Obama-era value that Biden had matched. It is far higher than the roughly $10 a ton imposed by the Trump administration, early last year.

Biden to resume federal oil and gas development under stricter rules as ‘social cost of carbon’ is battled in court

Good lord, just when you thought Tater and his band-o-turds could not get anymore retarded.

I'm sure oil company heads will be all over that 5X impact fee increase.

The dem's polling must be horrible for them to even consider it.

So, during the Trump administration 7%-8% were drilled on Federal land leases in the country, with 92% to 93% not on federal land leases. How much difference is this going to make? Anybody got a guess?

 

[Toddsterpatriot]

So, during the Trump administration 7%-8% were drilled on Federal land leases in the country, with 92% to 93% not on federal land leases. How much difference is this going to make? Anybody got a guess?

Hurting oil and gas is ok, as long as you don't hurt it too much...........

 

[IamZ]

Gas will continue to get high until Democrats say out loud they’re OK with gas going forward or else banks are not going to invest.

 

[White 6]

Hurting oil and gas is ok, as long as you don't hurt it too much...........

Oil and gas has pretty well taken care of itself up to now. Don't expect me to feel sorry for them, with current return on investment across that industry going through the roof. They are doing fine, no matter your political argument.

 

[justoffal]

At a time like this Biden is going to make it harder and more expensive to drill for oil and gas. All that blaming the oil companies is bullshit, he told us all along he was going to end the fossil fuel industry and he is doing exactly that. And he doesn't give a flyin' fuck how much that hurts the economy, especially to lower income people and small businesses who are trying to make ends meet.

November 2024 cannot come too soon to get rid of that SOB, assuming he doesn't resign first.

He's just creating a slush fund.

 

[Toddsterpatriot]

Oil and gas has pretty well taken care of itself up to now. Don't expect me to feel sorry for them, with current return on investment across that industry going through the roof. They are doing fine, no matter your political argument.

They haven't been able to choke off financing yet.
Too bad about Sarah Bloom Raskin.

 

[surada]

The Biden administration late Friday said it would resume plans for oil and gas development on federal lands after another court maneuver — this one in its favor. It’s the latest in a series of stops and starts for this portion of the president’s cleaner energy and climate-change agenda.

Interior, at least temporarily, will place the social value at around $51 per ton of greenhouse gases emitted, the Obama-era value that Biden had matched. It is far higher than the roughly $10 a ton imposed by the Trump administration, early last year.

Biden to resume federal oil and gas development under stricter rules as ‘social cost of carbon’ is battled in court

Good lord, just when you thought Tater and his band-o-turds could not get anymore retarded.

I'm sure oil company heads will be all over that 5X impact fee increase.

The dem's polling must be horrible for them to even consider it.

The Saudis have 4% production emissions, the US has 11.6 production emissions and Venezuela has 20% production emissions.

 

[surada]

Gas will continue to get high until Democrats say out loud they’re OK with gas going forward or else banks are not going to invest.

US natural gas is doing well.

 

[task0778]

They haven't been able to choke off financing yet.

Biden and the democrats are working on that though. That is the point for this social cost of carbon thing, to scare investors away from fossil fuels, which increases the risk. I think it's fair to say that there are a number of factors behind the higher gas prices and the political war on oil/gas by the democrats is one of them.

 

[Viktor]

Gas will continue to get high until Democrats say out loud they’re OK with gas going forward or else banks are not going to invest.

Don't forget who Uncle Jojo works for and who bribes him-Russia, China and Iran.

 

[task0778]

Don't forget who Uncle Jojo works for and who bribes him-Russia, China and Iran.

And the greenies own him too.

 

[White 6]

They haven't been able to choke off financing yet.
Too bad about Sarah Bloom Raskin.

Hard to choke off financing with the current return on investment.
She ran afoul of the climate of the other Joe.

 

[Toddsterpatriot]

Hard to choke off financing with the current return on investment.
She ran afoul of the climate of the other Joe.

Hard to choke off financing with the current return on investment.

Why do you feel that?
Just have the Fed say you can't make the loan, it boosts your CO2 rating too high.

She ran afoul of the climate of the other Joe.

It's almost like he didn't want her choking off financing.

 

[White 6]

Hard to choke off financing with the current return on investment.

Why do you feel that?
Just have the Fed say you can't make the loan, it boosts your CO2 rating too high.

She ran afoul of the climate of the other Joe.

It's almost like he didn't want her choking off financing.

Oil out of the ground was worth $35.00/barrel and there was plenty of finance available. Price of exploration has not risen more than maybe 10%, but oil out of the ground is now somewhere about $100.00/barrel. When your return on investment is almost triple, with only slightly higher costs, the best investment around is a hole in the ground.

 

[Toddsterpatriot]

When your return on investment is almost triple, with only slightly higher costs, the best investment around is a hole in the ground.

When the government prohibits banks from lending to fossil fuel companies, banks won't care what the rate of return could be.

 

[White 6]

When the government prohibits banks from lending to fossil fuel companies, banks won't care what the rate of return could be.

They have not. I don't see them ever doing so. I figure a lot of drilling finance is with small consortium LLCs/limited partnerships, but don't really know. Trust me. There is money around for a hole in the ground.