Oil companies right now have 9,000 leases they can drill on. Why are they not drilling?

[HandleTheTruth]

Fact-checking Biden’s claim that there are 9,000 unused oil drilling permits

Fact-checking President Joe Biden’s claim that there are 9,000 unused oil drilling permits. That's mostly true.

www.statesman.com

Seems they want to slow supply with demand going up that mean Cha ching. More record prices.

So why sit on these leases and not drill.

Oh yeah they have billions of reason not to.

 

[candycorn]

Fact-checking Biden’s claim that there are 9,000 unused oil drilling permits

Fact-checking President Joe Biden’s claim that there are 9,000 unused oil drilling permits. That's mostly true.

www.statesman.com

Seems they want to slow supply with demand going up that mean Cha ching. More record prices.

So why sit on these leases and not drill.

Oh yeah they have billions of reason not to.

They don't have enough crews for one thing.

I'm not putting it at the feet of the crackdown on illegal immigrants but that certainly didn't help. Also, having a lease on the books is not an indication of it being, to borrow an Obama term..."shovel ready".

I'm sure the profit motive has something to do with it. But it's not a simple money grab.

 

[Penelope]

Fact-checking Biden’s claim that there are 9,000 unused oil drilling permits

Fact-checking President Joe Biden’s claim that there are 9,000 unused oil drilling permits. That's mostly true.

www.statesman.com

Seems they want to slow supply with demand going up that mean Cha ching. More record prices.

So why sit on these leases and not drill.

Oh yeah they have billions of reason not to.

The republicans want it high, so they can resort to that fact during the midterms along with the crime and the border, inflation is top.

 

[kyzr]

1. Leases does not mean you can drill, you also need "permits". Greens take companies to court to stop getting permits. Biden's admin is on the greens side in court. That's why drilling is less.

2. You not only need to drill, you also need pipelines. Biden won't allow new pipelines.

3. Biden is a pedo and a liar.

 

[kyzr]

The republicans want it high, so they can resort to that fact during the midterms along with the crime and the border, inflation is top.

So you approve of Biden shutting down the KeystoneXL pipeline, and reducing Canada's oil output by about 500,000 bbls/day? The fact is that democrats want gas high to get everyone into Teslas.

 

[Penelope]

So you approve of Biden shutting down the KeystoneXL pipeline, and reducing Canada's oil output by about 500,000 bbls/day? The fact is that democrats want gas high to get everyone into Teslas.

Yes I do, and I can't afford a Tesla's. Canada does depend on the Keystone Pipeline.

 

[Smokin' OP]

So you approve of Biden shutting down the KeystoneXL pipeline,

A pipeline that was only 10% complete?
A pipeline that didn't have a gallon of oil flowing though it's pipeline?

and reducing Canada's oil output by about 500,000 bbls/day?

Even if Biden could control CANADA'S oil production/output, your wrong.

June 8 2022
Canadian oil production is set to hit a record 5.87 million barrels per day on average in 2022, its highest level ever, according to the International Energy Agency.

As oil prices improve, Canadian producers have targeted modest production improvements for next year.

'Modest"? That's because they like the price.

The fact is that democrats want gas high to get everyone into Teslas.

FOX "facts".

 

[Penelope]

So you approve of Biden shutting down the KeystoneXL pipeline, and reducing Canada's oil output by about 500,000 bbls/day? The fact is that democrats want gas high to get everyone into Teslas.

Yet many experts agree that moving ahead with the pipeline wouldn't have prevented U.S. gas prices from climbing to a record high. Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible."

When TC Energy announced in March 2020 that it was resuming construction of the Keystone XL pipeline, they estimated that it would “enter service in 2023.” By this projection, if construction resumed tomorrow, Keystone wouldn’t be online until 2025. When Biden revoked the permit on January 20, 2021, TC Energy completed just over 90 miles of a pipeline supposed to extend across 1,200 miles. Considering this construction history and the inevitable lawsuits the pipeline would have faced again, completion in three years might be wishful thinking.

Reviving the Keystone XL Pipeline Is Economically Pointless

It will be too little and too late to help alleviate oil prices.

www.peoplespolicyproject.org

 

[Penelope]

1. Leases does not mean you can drill, you also need "permits". Greens take companies to court to stop getting permits. Biden's admin is on the greens side in court. That's why drilling is less.

2. You not only need to drill, you also need pipelines. Biden won't allow new pipelines.

3. Biden is a pedo and a liar.

You have any proof that Biden is pedophile and a liar.

 

[Mac1958]

Oh yeah they have billions of reason not to.

Yep. Zero (0) incentive to do so.

The cult doesn't understand that.

 

[Jets]

Companies do what is most profitable…

 

[Maxdeath]

I have posted this many times before.
A lease does not guarantee oil is anywhere near there.
Some of those leases are in areas that can not be reached.
Some of the leases are in areas owned by farmers and ranchers that do not want oil companies on their land and do not own the mineral rights.
Some of those leases are in the middle of areas where leases are not given out and the simple matter is oil is unaware that it has to stay within the lease.
So while it is nice to pretend that every lease is a major oil producing area they are not.

 

[JohnDB]

So you approve of Biden shutting down the KeystoneXL pipeline, and reducing Canada's oil output by about 500,000 bbls/day? The fact is that democrats want gas high to get everyone into Teslas.

The Democrats do because the hedge fund Blackrock (which owns major amounts of stock in Railroad) wants oil by rail and for people to buy EVs....which they also are heavily invested in.

 

[Maxdeath]

Yes I do, and I can't afford a Tesla's. Canada does depend on the Keystone Pipeline.

Actually that oil will still be shipped. It just will be shipped using locomotives and semi trucks. Both of which is more costly and higher polluters. But low pollution was never the idea. It was all about feelings

 

[Mac1958]

Fact-checking Biden’s claim that there are 9,000 unused oil drilling permits

Fact-checking President Joe Biden’s claim that there are 9,000 unused oil drilling permits. That's mostly true.

www.statesman.com

Seems they want to slow supply with demand going up that mean Cha ching. More record prices.

So why sit on these leases and not drill.

Oh yeah they have billions of reason not to.

Exxon stock since the price increases:

 

[JohnDB]

Yet many experts agree that moving ahead with the pipeline wouldn't have prevented U.S. gas prices from climbing to a record high. Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible."

When TC Energy announced in March 2020 that it was resuming construction of the Keystone XL pipeline, they estimated that it would “enter service in 2023.” By this projection, if construction resumed tomorrow, Keystone wouldn’t be online until 2025. When Biden revoked the permit on January 20, 2021, TC Energy completed just over 90 miles of a pipeline supposed to extend across 1,200 miles. Considering this construction history and the inevitable lawsuits the pipeline would have faced again, completion in three years might be wishful thinking.

Reviving the Keystone XL Pipeline Is Economically Pointless

It will be too little and too late to help alleviate oil prices.

www.peoplespolicyproject.org

The bitumen that will be pumped through that pipeline is not a highly utilized product. Too much Sulphur. The only customer is in China that uses it.
The railroad likes hauling it though....and jamming up the ports....

 

[rightwinger]

Fact-checking Biden’s claim that there are 9,000 unused oil drilling permits

Fact-checking President Joe Biden’s claim that there are 9,000 unused oil drilling permits. That's mostly true.

www.statesman.com

Seems they want to slow supply with demand going up that mean Cha ching. More record prices.

So why sit on these leases and not drill.

Oh yeah they have billions of reason not to.

Yet, Republicans claim they need more leases on Federal land to bring down gas prices

 

[johngaltshrugged]

 

[rightwinger]

View attachment 656916

Biden is 100 percent right

Look what our reliance on fossil fuels is buying us

 

[kyzr]

A pipeline that was only 10% complete?
A pipeline that didn't have a gallon of oil flowing though it's pipeline?
Even if Biden could control CANADA'S oil production/output, your wrong.
June 8 2022
Canadian oil production is set to hit a record 5.87 million barrels per day on average in 2022, its highest level ever, according to the International Energy Agency.
As oil prices improve, Canadian producers have targeted modest production improvements for next year.
'Modest"? That's because they like the price.
FOX "facts".

1. The pipeline would have been finished by the end of 2022 adding 500,000 bpd of Canadian oil.
2. The US oil production fell under Biden from 13m bpd under Trump to 11.5m bpd under Xiden

Could the Keystone XL pipeline help lower U.S. gas prices?

As prices at the pump surge, GOP leaders see the suspended oil pipeline as a solution. But the answer isn't so simple.

finance.yahoo.com

Could the Keystone XL pipeline help lower U.S. gas prices?

As prices at the pump surge, GOP leaders see the suspended oil pipeline as a solution. But the answer isn't so simple.

www.cbsnews.com