Yeah. Elections have consequences, and Biden had to give the progressives something, and this issue WILL cost the dems in the 20 Senate and House elections. Progressives have short memories.Doesn't really matter since it's not like oil under potential new federal land leases is just going away because the federal lease wasn't granted, the oil will still be there, and the leases will still be available for development if the market demand is there for it, in other words new leases *could* replace old ones that are taped out on a proven reserves vs. proven reserves basis (barrel for barrel) so as to maintain a constant volume of proven reserves that are actively being extracted.Leases do not last forever. They slowly produce less and eventually stop producing. So yes, if you freeze leases, then as Health correctly said EVENTUALLY they will run dry. Biden would never end the "temporary" pause.The freeze has no impact upon how much natl gas is being produced. In fact we produce MORE natl gas now than in Nov of 2020.The pause for review on new leases did not cause a drop in production on federal lands.
Saudi Arabia accounts for less than 10 % of our petroleum imports.
You and the girls in the Democrat locker room are just poking each other away and giggling like crazy.
The point is that when they suspend new leases, that means the 25% is frozen and as Heath said will "eventually" be eliminated. I'm not like you, I actually read his OP.
And we both know Biden would never have approved the end of the "pause" in leases. Stop lying
Whether we return to pre-pandemic production .... we'll see.
Personally I'd rather not see any pause. I agree that there may be future cost increases, but there aren't now. And the best guess is that the increase in 21 will still leave elec prices lower than pre-pandemic.
STEO
www.eia.gov
The thread is a case of premature ejaculation.
My concern is allowing the Federal Government to directly manipulate potential production by withholding new leases solely for political purposes without regards to the needs of the economy THAT is dangerous since central planners invariably end up disconnecting supply and demand causing either shortages or over-supply.
And yes, it's at least theoretically possible that potus would increase leasing in an effort to gain a short term energy price reduction.
Yes, Biden had to give the progressives something. So we are sending money to despotic dictators to drill oil there and put it in boats and sail it across the ocean for the environment because we aren't on the same earth as despotic dictators or the oceans they have to sail it across so it's good for the environment!
And to lunatic leftists, sending money out of the country is so much better than keeping it here because racism somehow
Most of the oil we import comes from Canada, Mexico and Venezeula.. And, most of that is heavy, sour crude. You are not well informed.. What the hell does the oil supply hve to do with racism?