How many of you Biden supporters that said the ban on Oil exploration by Biden didn't have an affect on prices???

[healthmyths]

Nice rebuttal. Dumbass

So why haven't you answered my "REBUTTAL"???
Winston wrote..."Where the hell did you get 24 billion barrels from, out of your ass?"

Please read...(if you can as the above source is from the below source!)...
Source: Bureau of Ocean Energy Management
The Alaska offshore is estimated to offer an average (mean) potential for undiscovered, conventionally recoverable oil of 24 billion barrels, with a 5-percent chance of oil resources exceeding 34 billion barrels. Gas potential averages 126 trillion cubic feet, with a 5-percent chance of gas resources exceeding 230 trillion cubic feet.

SOURCE: Assessment Data For Oil And Gas Potential Of Alaska Federal Offshore | Bureau of Ocean Energy Management

BOEM is the U.S. Department of the Interior, Bureau of Ocean Energy Management

 

[Winston]

So why haven't you answered my "REBUTTAL"???
Winston wrote..."Where the hell did you get 24 billion barrels from, out of your ass?"

Please read...(if you can as the above source is from the below source!)...
Source: Bureau of Ocean Energy Management
The Alaska offshore is estimated to offer an average (mean) potential for undiscovered, conventionally recoverable oil of 24 billion barrels, with a 5-percent chance of oil resources exceeding 34 billion barrels. Gas potential averages 126 trillion cubic feet, with a 5-percent chance of gas resources exceeding 230 trillion cubic feet.

SOURCE: Assessment Data For Oil And Gas Potential Of Alaska Federal Offshore | Bureau of Ocean Energy Management

BOEM is the U.S. Department of the Interior, Bureau of Ocean Energy Management

Because I am busy playing whack a damn dumbass. "Potential" means next to nothing. "Unexplored" means they haven't even done geographical surveys to verify of the possibility. Pretty sure there is also a 5% chance that they won't find diddly squat shit. Which is one of the reasons many oil companies haven't even bothered to put in bids on available permits.

Take Trump's auction of the very lands you are talking about in has last few weeks in office. The Republicans and the government, you know, the same people that are claiming that "potential" 24 billion barrels, claimed the auction would net 900 million dollars. No major oil companies showed up, and they managed to rake in a whomping 14 million dollars. Not even two percent of what they were looking for, since you like percentages so well.

Trump auction of oil leases in Arctic refuge attracts barely any bidders

Coastal plain was up for sale as part of the Trump administration’s plan to pay for Republicans’ tax cuts with oil revenue

www.theguardian.com

 

[LeftofLeft]

Joe Biden and Kamala Harris made it clear when they ran that it was time to reign in the oil companies. Gas was under $3.00. They took over and passed executive orders against the oil industry. Liberals supported it. Today, gas is kissing $5.00 per gallon and while liberals love that, they don’t like the masses being upset at high gas prices.

 

[healthmyths]

Because I am busy playing whack a damn dumbass. "Potential" means next to nothing. "Unexplored" means they haven't even done geographical surveys to verify of the possibility. Pretty sure there is also a 5% chance that they won't find diddly squat shit. Which is one of the reasons many oil companies haven't even bothered to put in bids on available permits.

Take Trump's auction of the very lands you are talking about in has last few weeks in office. The Republicans and the government, you know, the same people that are claiming that "potential" 24 billion barrels, claimed the auction would net 900 million dollars. No major oil companies showed up, and they managed to rake in a whomping 14 million dollars. Not even two percent of what they were looking for, since you like percentages so well.

Trump auction of oil leases in Arctic refuge attracts barely any bidders

Coastal plain was up for sale as part of the Trump administration’s plan to pay for Republicans’ tax cuts with oil revenue

www.theguardian.com

The majority of oil reserves in Alaska will stay locked in the ground if temporary bans on federal leasing activity introduced by the Biden administration become permanent, according to an analysis.

Of the US state’s estimated 23.3 billion barrels of recoverable oil and condensates, around 72% of the resource may never see the light of day, posing a challenge to Alaska’s oil-dependent finances.

However, the effect of any policies to permanently put the region off limits to new drilling would be unlikely to affect near-term output, with the impact only to be felt sometime after 2030.

During his first week in office, US President Joe Biden made a series of interventions in the country’s oil industry, in a dual attempt to dismantle some of the hallmark policies of his predecessor and kick-start a low-carbon national energy strategy that will chart a course to net-zero emissions by mid-century.

He signed executive orders banning new lease sales in the Arctic National Wildlife Refuge (ANWR) in north-east Alaska – a previously protected region opened up to the industry in one of former president Trump’s final energy initiatives – as well as issuing a temporary pause on new oil and gas leasing across federal lands and waters.

More than 70% of Alaska's oil reserves could be left untouched if lease suspensions made permanent

A pause on new US federal drilling leases introduced by President Biden leaves oil reserves in Alaska uniquely exposed if made permanent.

www.nsenergybusiness.com

Why do you continue to support Biden's efforts to destroy the oil/gas industry?

 

[Winston]

The majority of oil reserves in Alaska will stay locked in the ground if temporary bans on federal leasing activity introduced by the Biden administration become permanent, according to an analysis.

Of the US state’s estimated 23.3 billion barrels of recoverable oil and condensates, around 72% of the resource may never see the light of day, posing a challenge to Alaska’s oil-dependent finances.

However, the effect of any policies to permanently put the region off limits to new drilling would be unlikely to affect near-term output, with the impact only to be felt sometime after 2030.

During his first week in office, US President Joe Biden made a series of interventions in the country’s oil industry, in a dual attempt to dismantle some of the hallmark policies of his predecessor and kick-start a low-carbon national energy strategy that will chart a course to net-zero emissions by mid-century.

He signed executive orders banning new lease sales in the Arctic National Wildlife Refuge (ANWR) in north-east Alaska – a previously protected region opened up to the industry in one of former president Trump’s final energy initiatives – as well as issuing a temporary pause on new oil and gas leasing across federal lands and waters.

More than 70% of Alaska's oil reserves could be left untouched if lease suspensions made permanent

A pause on new US federal drilling leases introduced by President Biden leaves oil reserves in Alaska uniquely exposed if made permanent.

www.nsenergybusiness.com

Why do you continue to support Biden's efforts to destroy the oil/gas industry?

*sigh*

Let's start with the first sentence in your linked article,

http://www.facebook.com/sharer.php?...com/features/alaska-oil-reserves-leasing-ban/
The US state is uniquely exposed to a full-time ban on oil and gas leasing across federal lands and waters, although any impact on production would not be realised until after 2030

"Uniquely exposed"--so, that ban hasn't happened yet, it might happen, it probably won't, But "uniquely exposed" sounds so ominous. Combine that with "impact on production would not be realised until after 2030". Using "realised" as a past participle here, as if something would be completed by 2030, combined with "uniquely exposed" camouflaging nothing but conjecture and you got quite a start to the article. Simpletons like yourself could never see past that slick piece of writing.

"Of the states estimated", who estimated it? Because I have to say,

signed executive orders banning new lease sales in the Arctic National Wildlife Refuge (ANWR) in north-east Alaska – a previously protected region opened up to the industry in one of former president Trump’s final energy initiatives

Oh, you mean he banned new lease sales in the very same area that Trump's much spun auction only took in 14 million dollars, not the 900 million dollars expected. With not a single major oil producer participating it appears some professionals have a much lower "estimate". I mean let's say you got two vintage corvettes, you estimate their value at $90,000 each. You put one up for auction, no reserve, and it sells for $1400. You going to put up the other one right away? I mean think for a moment. Put this shit together.

However, Rystad notes that any permanent ban would only begin to have a real effect on Alaska’s oil production after 2030, with any impact during the final years of this decade to be “negligible”, limited to just a handful of thousand barrels.

ARE you flippin kidding me. All these threads, various font sizes, literally screaming and yelling, 24 % number thrown around that was old, and stale, and at least 40% off the real percentage of oil coming from public lands. 24 billion barrels of oil, which is just an estimate from someone, not sure who, obviously no engineering scientist with the major oil companies. All over the negligible amount of a handful of thousands barrels between now and 2030. WTF. 95 million barrels of oil consumed PER DAY, and a few handful of thousands of barrels over the course of the next eight years. Oh shit, this is getting comical. Even if oil demand remained constant for the entire eight years. 277 BILLION with a B, and a few "handful of thousands", hell, not even a hundred thousand, a "handful of thousands". Do the math, plug it in your calculator, figure the percentage inflating the number to a whole one hundred thousand, LMAO--when you do the number comes back in scientific notation because of all the zeros in front.

 

[healthmyths]

*sigh*

Let's start with the first sentence in your linked article,

http://www.facebook.com/sharer.php?u=https://www.nsenergybusiness.com/features/alaska-oil-reserves-leasing-ban/
The US state is uniquely exposed to a full-time ban on oil and gas leasing across federal lands and waters, although any impact on production would not be realised until after 2030

"Uniquely exposed"--so, that ban hasn't happened yet, it might happen, it probably won't, But "uniquely exposed" sounds so ominous. Combine that with "impact on production would not be realised until after 2030". Using "realised" as a past participle here, as if something would be completed by 2030, combined with "uniquely exposed" camouflaging nothing but conjecture and you got quite a start to the article. Simpletons like yourself could never see past that slick piece of writing.

"Of the states estimated", who estimated it? Because I have to say,

signed executive orders banning new lease sales in the Arctic National Wildlife Refuge (ANWR) in north-east Alaska – a previously protected region opened up to the industry in one of former president Trump’s final energy initiatives

Oh, you mean he banned new lease sales in the very same area that Trump's much spun auction only took in 14 million dollars, not the 900 million dollars expected. With not a single major oil producer participating it appears some professionals have a much lower "estimate". I mean let's say you got two vintage corvettes, you estimate their value at $90,000 each. You put one up for auction, no reserve, and it sells for $1400. You going to put up the other one right away? I mean think for a moment. Put this shit together.

However, Rystad notes that any permanent ban would only begin to have a real effect on Alaska’s oil production after 2030, with any impact during the final years of this decade to be “negligible”, limited to just a handful of thousand barrels.

ARE you flippin kidding me. All these threads, various font sizes, literally screaming and yelling, 24 % number thrown around that was old, and stale, and at least 40% off the real percentage of oil coming from public lands. 24 billion barrels of oil, which is just an estimate from someone, not sure who, obviously no engineering scientist with the major oil companies. All over the negligible amount of a handful of thousands barrels between now and 2030. WTF. 95 million barrels of oil consumed PER DAY, and a few handful of thousands of barrels over the course of the next eight years. Oh shit, this is getting comical. Even if oil demand remained constant for the entire eight years. 277 BILLION with a B, and a few "handful of thousands", hell, not even a hundred thousand, a "handful of thousands". Do the math, plug it in your calculator, figure the percentage inflating the number to a whole one hundred thousand, LMAO--when you do the number comes back in scientific notation because of all the zeros in front.

Again... who the hell are you? I provide links to my statements? YOU ? Nothing. And you use the word "scientific"?
Means crap if you don't substantiate... you in simple terms.. DON'T "provide sources" of your comments.
Your defense of Biden though really shows your ignorance.
So the brilliant people like you advising Biden tell him Go beg OPEC to produce more oil while at the same time
say "oh by the way we're creating an anti-OPEC bill that will affect you negatively"!

Right!!! And you defend this guy?
OPEC faces pressure to boost production as Biden, Draghi discuss forming 'anti-OPEC'

OPEC

News and analysis related to Organization of the Petroleum Exporting Countries, or OPEC

www.cnbc.com

OPEC Sends Out Stern Warning​

OPEC is seeing what has been going on within the United States, and it is anything but impressed. UAE’s Energy Minister Suhail al-Mazrouei said on Tuesday that OPEC was being unfairly targeted over the energy crisis. He said, “If you hinder that system, you need to watch what you’re asking for because having a chaotic market you would see… a 200 percent or 300 percent increase in the prices that the world cannot handle.”

Biden rubs the OPEC the wrong way, and now UAE is preparing to launch an oil strike on the US

All arms of the U.S. government are coming together to rub Saudi Arabia and other Gulf countries the wrong way. The United States is picking up a completely avoidable and unnecessary fight with the Organization of Petroleum Exporting Countries or the OPEC. OPEC is an organization that controls...

tfiglobalnews.com

Biden Sets Million-Barrel-a-Day Oil Release to Tame Prices​

Bloomberg - Are you a robot?

www.bloomberg.com

 

[Winston]

Again... who the hell are you? I provide links to my statements? YOU ? Nothing. And you use the word "scientific"?
Means crap if you don't substantiate... you in simple terms.. DON'T "provide sources" of your comments.
Your defense of Biden though really shows your ignorance.
So the brilliant people like you advising Biden tell him Go beg OPEC to produce more oil while at the same time
say "oh by the way we're creating an anti-OPEC bill that will affect you negatively"!

Right!!! And you defend this guy?
OPEC faces pressure to boost production as Biden, Draghi discuss forming 'anti-OPEC'

OPEC

News and analysis related to Organization of the Petroleum Exporting Countries, or OPEC

www.cnbc.com

OPEC Sends Out Stern Warning​

OPEC is seeing what has been going on within the United States, and it is anything but impressed. UAE’s Energy Minister Suhail al-Mazrouei said on Tuesday that OPEC was being unfairly targeted over the energy crisis. He said, “If you hinder that system, you need to watch what you’re asking for because having a chaotic market you would see… a 200 percent or 300 percent increase in the prices that the world cannot handle.”

Biden rubs the OPEC the wrong way, and now UAE is preparing to launch an oil strike on the US

All arms of the U.S. government are coming together to rub Saudi Arabia and other Gulf countries the wrong way. The United States is picking up a completely avoidable and unnecessary fight with the Organization of Petroleum Exporting Countries or the OPEC. OPEC is an organization that controls...

tfiglobalnews.com

Biden Sets Million-Barrel-a-Day Oil Release to Tame Prices​

Bloomberg - Are you a robot?

www.bloomberg.com

STFU you stupid shit. Every thing in my last post CAME FROM YOUR SOURCE. Did you not read it.

More than 70% of Alaska's oil reserves could be left untouched if lease suspensions made permanent

A pause on new US federal drilling leases introduced by President Biden leaves oil reserves in Alaska uniquely exposed if made permanent.

www.nsenergybusiness.com

However, Rystad notes that any permanent ban would only begin to have a real effect on Alaska’s oil production after 2030, with any impact during the final years of this decade to be “negligible”, limited to just a handful of thousand barrels.

All this pissing and moaning over a few handfuls of thousands of barrels over the course of the next eight years. PER YOUR SOURCE. As if that has had any impact on price whatsoever. I have documented a couple of things, but you probably no more read my links than you read your own. For instance, that two million barrels a day of Russian production has been removed from the market. TWO MILLION, PER DAY. Handful of hundred thousand over eight years. Are you not realizing how flippin stupid you are?

24% of oil production from public lands. The source for that, four years old. I posted a current CRS report showing it is now 15%, and has been declining for years, including during the Trump administration. You claim 24 billion barrels of "potential" oil, from unexplored areas, yet your own source cut that down to 16 billion, so about two weeks worth of demand over the next eight years. Hello? And the area Biden closed off from selling permits is the same area Trump auctioned off in the final weeks of his presidency reaping 14 million dollars instead of the expected 900 million. And yes, I documented that as well, hence the Corvette analogy. And yep, I reckon your stupid ass would sell your second Corvette right away

 

[LeftofLeft]

World wide oil supply went down because producing wells were shut down due to lack of demand and
Trump negotiating production cuts from OPEC and US oil producers, not because of the pause on new leases on federal land. When demand came roaring back the producing nations were not able to increase production as fast as they shut it off because they have to re-drill most of the wells, not because of Biden's pause on new lease sales on federal lands.

If demand went down and production, why all of the actions taken by Biden and team as soon as they took office?

 

[healthmyths]

STFU you stupid shit. Every thing in my last post CAME FROM YOUR SOURCE. Did you not read it.

More than 70% of Alaska's oil reserves could be left untouched if lease suspensions made permanent

A pause on new US federal drilling leases introduced by President Biden leaves oil reserves in Alaska uniquely exposed if made permanent.

www.nsenergybusiness.com

However, Rystad notes that any permanent ban would only begin to have a real effect on Alaska’s oil production after 2030, with any impact during the final years of this decade to be “negligible”, limited to just a handful of thousand barrels.

All this pissing and moaning over a few handfuls of thousands of barrels over the course of the next eight years. PER YOUR SOURCE. As if that has had any impact on price whatsoever. I have documented a couple of things, but you probably no more read my links than you read your own. For instance, that two million barrels a day of Russian production has been removed from the market. TWO MILLION, PER DAY. Handful of hundred thousand over eight years. Are you not realizing how flippin stupid you are?

24% of oil production from public lands. The source for that, four years old. I posted a current CRS report showing it is now 15%, and has been declining for years, including during the Trump administration. You claim 24 billion barrels of "potential" oil, from unexplored areas, yet your own source cut that down to 16 billion, so about two weeks worth of demand over the next eight years. Hello? And the area Biden closed off from selling permits is the same area Trump auctioned off in the final weeks of his presidency reaping 14 million dollars instead of the expected 900 million. And yes, I documented that as well, hence the Corvette analogy. And yep, I reckon your stupid ass would sell your second Corvette right away

U.S. Imports from Russia of Crude Oil and Petroleum Products (Thousand Barrels)
Oil USA imported from Russia since 2017...
U.S. Imports from Russia of Crude Oil and Petroleum Products (Thousand Barrels)/Month...

 

[Winston]

U.S. Imports from Russia of Crude Oil and Petroleum Products (Thousand Barrels)
Oil USA imported from Russia since 2017...
U.S. Imports from Russia of Crude Oil and Petroleum Products (Thousand Barrels)/Month...
View attachment 645464

Good God Almighty dude. We have done been down this road before, you even admitted you were wrong. The two million barrels, as I stated, is a loss of production. That comes off the world market. I don't give diddly shit how much the USA has imported from Russia, well, at least when it comes to oil. Now, gasoline, that is another story entirely.

The United States imported more gasoline and other refined petroleum products from Russia than any other country in 2021.

Russia Is United States’ Top Source Of Imported Gas, Refined Petroleum

The United States imported more gasoline and other refined petroleum products from Russia than any other country in 2021.

www.forbes.com

So, we imported gasoline, more from Russia than anywhere else in the world, even Canada. Of course, Canada is too damn smart to refine that nasty ass shit in her territory. But check this out,

U.S. Exports of Distillate Fuel Oil (Thousand Barrels per Day)

That is our diesel exports. WTF? Import gasoline, export diesel? How retarded, and check out the interactive graph. When did we export more diesel than every before. Under the Trumpster. America first my damn ass.

 

[Ame®icano]

That is our diesel exports. WTF? Import gasoline, export diesel? How retarded, and check out the interactive graph. When did we export more diesel than every before. Under the Trumpster. America first my damn ass.

The US uses only 2/3 of diesel we produce, and most of it is used by transportation. The remaining 1/3 is sold to countries that uses more diesel than we are. While in the US, only 5% of personal vehicles are diesel, in EU that number is around 50%. It has nothing to do with Trump, diesel is fuel that is much more popular, and cheaper (less taxed) in EU.

 

[Winston]

The US uses only 2/3 of diesel we produce, and most of it is used by transportation. The remaining 1/3 is sold to countries that uses more diesel than we are. While in the US, only 5% of personal vehicles are diesel, in EU that number is around 50%. It has nothing to do with Trump, diesel is fuel that is much more popular, and cheaper (less taxed) in EU.

No, the problem is that refineries have increased their capacity to refine oil into diesel while reducing the capacity to refine gasoline, and all for export. In fact, a huge part of it was in anticipation of the completion of the Keystone pipeline. The reality is that refining oil into diesel is cheaper than gasoline. So, we have less gasoline and more diesel. The price of gasoline goes up because of lower supply, and the price of diesel goes up because the supply is exported out of the American market. Profit for oil refined into diesel is over $70 a month.

 

[healthmyths]

No, the problem is that refineries have increased their capacity to refine oil into diesel while reducing the capacity to refine gasoline, and all for export. In fact, a huge part of it was in anticipation of the completion of the Keystone pipeline. The reality is that refining oil into diesel is cheaper than gasoline. So, we have less gasoline and more diesel. The price of gasoline goes up because of lower supply, and the price of diesel goes up because the supply is exported out of the American market. Profit for oil refined into diesel is over $70 a month.

What di you mean when you wrote ? "Profit for oil refined into diesel is over $70 a month."

Diesel fuel an average of about 122 million gallons per day​

Use of diesel - U.S. Energy Information Administration (EIA)

Use of diesel fuel in diesel engines in trucks for transporting goods, and in construction, farming, and mining equipment, and by the military.

www.eia.gov

Average price per gallon of diesel... $5.22 or AAA Gas Prices
So if diesel gross revenue per month $19.105 Billion is profit of $70 per month?

 

[Winston]

What di you mean when you wrote ? "Profit for oil refined into diesel is over $70 a month."

Diesel fuel an average of about 122 million gallons per day​

Use of diesel - U.S. Energy Information Administration (EIA)

Use of diesel fuel in diesel engines in trucks for transporting goods, and in construction, farming, and mining equipment, and by the military.

www.eia.gov

Average price per gallon of diesel... $5.22 or AAA Gas Prices
So if diesel gross revenue per month $19.105 Billion is profit of $70 per month?

I meant $70 a barrel.

 

[candycorn]

I and several others here have posted that Biden's ban on oil exploration done the 7th day he was in office was a direct impact on gas prices rising have been proven RIGHT by Biden!!!
Just to recall...
Biden STOPPED On January 27, 2021 the Oil And Gas Leasing On Public Lands And Waters ,

Biden Hits 'Pause' On Oil And Gas Leasing On Public Lands And Waters

The move is one of his more controversial campaign promises, and industry groups say they will sue. But it won't have much immediate impact on driving down climate-warming emissions.

www.npr.org

on land that provides 24% of domestic gas production, FACT: 24% of our national oil production comes from Federal lands. Oil from federal lands tops 1B barrels as Trump eases rules
Gas prices on 1/25/21... $2.392 Gas prices as of 5/2/22 $4.182 or a $1.79 increase in 14 months or nearly 75% INCREASE !
But NOW...
even Biden agrees that federal leases are necessary to lower gas prices!!!!
Biden administration to resume leasing for oil and gas drilling on federal lands
The move comes as President Joe Biden seeks new ways to help lower gas prices.

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.nbcnews.com

So those of you that criticized those of us that pointed the direct relationship to banning exploration on land that produced 24% of oil/gas would raise prices.... Joe agrees with us.... so what about you?
View attachment 642378

There was a sale of leases right before Biden took office. There were 3 bidders.

 

[bripat9643]

I meant $70 a barrel.

So most of the barrel is pure profit?

I hardly think so.

 

[Winston]

So most of the barrel is pure profit?

I hardly think so.

"As such, the East Coast of the U.S. has been hit especially hard, resulting in diesel prices above $6.00 per gallon in that area, well over the equivalent of $250 per barrel.

The problem on the East Coast is refining capacity, not so much the supply of oil," he says. "East Coast capacity has been cut in half from 1.6 million barrels per day to 800,000 barrels per day over the past 10 years as half of the refineries in the east have shuttered.

"When the profit margin on producing diesel is over $70 per barrel, every refining company in the US will be doing all they can to produce as much as they can," says Meyer. One bright spot may be that after a cold spring, heating oil demand will obviously diminish quickly in the summer months."

https://www.agweb.com/news/business/taxes-and-finance/diesel-prices-just-hit-new-record-high-heres-why-diesel-shortage#:~:text=%22When%20the%20profit%20margin%20on%20producing%20diesel%20is,will%20obviously%20diminish%20quickly%20in%20the%20summer%20months.%22

 

[healthmyths]

I meant $70 a barrel.

Ok... I understand. So that is $70/barrel/month to a refinery?

 

[Big Bend Texas]

I and several others here have posted that Biden's ban on oil exploration done the 7th day he was in office was a direct impact on gas prices rising have been proven RIGHT by Biden!!!
Just to recall...
Biden STOPPED On January 27, 2021 the Oil And Gas Leasing On Public Lands And Waters ,

Biden Hits 'Pause' On Oil And Gas Leasing On Public Lands And Waters

The move is one of his more controversial campaign promises, and industry groups say they will sue. But it won't have much immediate impact on driving down climate-warming emissions.

www.npr.org

on land that provides 24% of domestic gas production, FACT: 24% of our national oil production comes from Federal lands. Oil from federal lands tops 1B barrels as Trump eases rules
Gas prices on 1/25/21... $2.392 Gas prices as of 5/2/22 $4.182 or a $1.79 increase in 14 months or nearly 75% INCREASE !
But NOW...
even Biden agrees that federal leases are necessary to lower gas prices!!!!
Biden administration to resume leasing for oil and gas drilling on federal lands
The move comes as President Joe Biden seeks new ways to help lower gas prices.

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.nbcnews.com

So those of you that criticized those of us that pointed the direct relationship to banning exploration on land that produced 24% of oil/gas would raise prices.... Joe agrees with us.... so what about you?
View attachment 642378

Get ready for even more, they cancelled a major lease sale today.

Biden admin cancels massive oil and gas lease sale amid record-high gas prices

The Biden administration canceled one of the most high-profile oil and gas lease sales pending before the Department of the Interior Wednesday, as Americans face record-high prices at the pump, according to AAA.

www.foxbusiness.com

These are some of the highest producing most profitable oil deposits in the world.

 

[Big Bend Texas]

Ok... I understand. So that is $70/barrel/month to a refinery?

Per day depending on price fluctuations.

Some of us have been pointing out we needed more refining capacity for decades but it always falls on deaf ears and the Fed's won't do a damned thing to make it any easier to build them.

From concept to production of the first gallon of fuel it takes 20 years or more to build a new refinery because of state and federal regulations.

The last new refinery in the US was built in Wyoming, a very energy friendly state 15 years ago.