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

[jknowgood]

Now tell us how German dependence on Russian oil is working out for them

Trump warned them about that and they laughed at him. Liberals are ignorant beings.

 

[Anathema]

Look what our reliance on fossil fuels is buying us

Only because we’ve decided to end the use of fossil fuels BEFORE we had a replacement energy source in place to provide for our needs.

We could discuss the benefits of removing fossil fuel sources if/when we had a replacement source of energy readily available.

We don’t. THAT’S the problem. Until we do have that replacement energy source in place, we cannot afford to get rid of fossil fuels.

 

[pknopp]

Only because we’ve decided to end the use of fossil fuels BEFORE we had a replacement energy source in place to provide for our needs.

We could discuss the benefits of removing fossil fuel sources if/when we had a replacement source of energy readily available.

We don’t. THAT’S the problem. Until we do have that replacement energy source in place, we cannot afford to get rid of fossil fuels.

Sadly the two parties aren't interested in doing what is the right thing to do. I've noted that the only person I've seen mention the right thing is Joe Manchin. He noted how we should continue to invest research into alternative energies while making sure the current needs are being met.

Pretty much common sense but that is pretty lacking today. A compromise would not be a tough thing but the two parties are no longer interested in that. They only want to divide.

 

[Lesh]

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.

Not only are they not drilling, they are not expanding refineries.

In fact they are closing one in Texas.

Why not...they're making record profits

 

[Lesh]

Only because we’ve decided to end the use of fossil fuels BEFORE we had a replacement energy source in place to provide for our needs.

What a stupid thing to say.

The cost of a total duplication before the switch would be extreme.

Do you think they went from horse and buggy to cars all in one big jump?

 

[kyzr]

Nor should they.
As I said, I've stated for a long time that once the Fed stops pumping the markets they will go after oil. It's easy pickings. Call it a coincidence if you wish but it is what is happening.

Not sure what you mean "the markets will go after oil"....you mean buy oil stocks?

 

[pknopp]

Not sure what you mean "the markets will go after oil"....you mean buy oil stocks?

I pretty much meant what I said. Yes they are buying stocks (which is NOT the same as buying oil) but they are going after oil to get what they want.

 

[JohnDB]

I'd rather tell you how dumb it was for Germany to decommission their nuclear powerplants.
Again, don't whine about it, tell Germany what they should be using to power their economy______________
(hint: renewables aren't working)

View attachment 656939

Germany shuts down half of its 6 remaining nuclear plants

Germany has shut down half of the six nuclear plants it still has in operation

abcnews.go.com

Some in Germany have called for the decision on ending the use of nuclear power to be reconsidered because the power plants already in operation produce relatively little carbon dioxide. Advocates of atomic energy argue that it can help Germany meet its climate targets for reducing greenhouse gas emissions.

The problem with nuclear power is the lifespan of the reactors and the resulting brown site that will be unusable for anything afterwards.
The cost of uranium fuel rods is also problematic as much of the uranium mining and processing was happening in Ukraine. (Yeah...it's a dirty process on every front)

So the companies responsible for the nuclear power are looking to escape responsibility for the resulting brown site they are leaving behind. Many of these reactors are nearing the end of their lifespan.

 

[JohnDB]

Only because we’ve decided to end the use of fossil fuels BEFORE we had a replacement energy source in place to provide for our needs.

We could discuss the benefits of removing fossil fuel sources if/when we had a replacement source of energy readily available.

We don’t. THAT’S the problem. Until we do have that replacement energy source in place, we cannot afford to get rid of fossil fuels.

We do. We actually can get super efficient with our use of petroleum products using fuel cell technology and ethanol and clean coal technology which uses yellow coal that is illegal to burn. (And a renewable resource)

 

[Anathema]

What a stupid thing to say.

The cost of a total duplication before the switch would be extreme.

Do you think they went from horse and buggy to cars all in one big jump

I work in the electric utility industry. We cannot continue taking currently operational generation sources offline before there is a guaranteed 100%+ replacement source already online. To do so would create issues far worse than the brownouts people are seeing around the country. We don’t need to have the entire grid reenergized before we start taking things offline, but we do need to be able to replace whatever we’re taking offline.

Likewise, we cannot remove the most common sources of fuel for transportation and home heating before we have a system in place to replace those supplies with something else.

 

[JohnDB]

The main reason why we are in an energy crisis is because of market manipulation by large hedge funds.

Biden? He is a manipulated idiot and not a manipulator himself....well except for very young girls.

 

[Cellblock2429]

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 why do democrats want high gas and inflation? If what you said is true, why aren't democrats lowering gas and inflation at least until the midterms are over so they can win?

 

[pknopp]

I work in the electric utility industry. We cannot continue taking currently operational generation sources offline before there is a guaranteed 100%+ replacement source already online. To do so would create issues far worse than the brownouts people are seeing around the country. We don’t need to have the entire grid reenergized before we start taking things offline, but we do need to be able to replace whatever we’re taking offline.

Likewise, we cannot remove the most common sources of fuel for transportation and home heating before we have a system in place to replace those supplies with something else.

But we also need to continue research and development into new energy sources.

 

[Anathema]

But we also need to continue research and development into new energy sources

I’m not saying we don’t. I’m just saying we can’t turn off the spigot of what we already have before we have the infrastructure and capability to replace it with something else, at a comparable cost.

 

[pknopp]

I’m not saying we don’t. I’m just saying we can’t turn off the spigot of what we already have before we have the infrastructure and capability to replace it with something else, at a comparable cost.

Sadly the two parties are mostly only interested in one or the other. IMO anyone that continues to support the two parties are doing the same.

 

[JohnDB]

But we also need to continue research and development into new energy sources.

We have plenty of energy resources...and technology to produce plenty of CHEAP energy....

But the issue is hedge fund market manipulation.

Currently the only central fuels are petroleum and natural gas. (Both mined hydrocarbons)

We can utilize yellow coal (mined and renewable sources are available) and ethanol (weather dependent) to easily supplement while making fuel efficiency much much greater than ever before.

But it requires time and resources that goes against current hedge fund wishes.

 

[Coyote]

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.

It isn’t that clear cut (which is why the right’s whining about how we should be selling even more leases to boost production is a wash). Leases are bought on speculation, they can’t be sure there is any productive oil or that is in sufficient quantity to be worth the cost of extracting. In addition it could be so difficult to extract the cost might end up more than potential profit at this time.

Anyway why SHOULD they increase production when they are making record profits with the status quo? JMO

 

[pknopp]

We have plenty of energy resources...and technology to produce plenty of CHEAP energy....

But the issue is hedge fund market manipulation.

If you read all my posts you will see where I state that is the major problem.

Currently the only central fuels are petroleum and natural gas. (Both mined hydrocarbons)

We can utilize yellow coal (mined and renewable sources are available) and ethanol (weather dependent) to easily supplement while making fuel efficiency much much greater than ever before.

But it requires time and resources that goes against current hedge fund wishes.

Hedge funds care less what energy we use as long as they can make record profits every year.

 

[Lesh]

I’m not saying we don’t. I’m just saying we can’t turn off the spigot of what we already have before we have the infrastructure and capability to replace it with something else, at a comparable cost.

And we're not doing that

 

[JohnDB]

If you read all my posts you will see where I state that is the major problem.




Hedge funds care less what energy we use as long as they can make record profits every year.

No....wrong. Blackrock bought Union Pacific and then told them to stop hauling so much fuel for the largest distributors of diesel and gasoline. Union Pacific has done so and threatened sanctions if Flying J did not comply.

Blackrock is also heavily invested in EV stocks (which sell better when oil prices are high) and real estate.

They are chief among the market manipulators at the moment. They have told Biden what to do....like shutting down Keystone pipeline so they could haul the bitumen.