Why Oil companies aren't drilling more

[candycorn]

Biden shut down the drilling by cancelling the drilling permits and the usual over-regulation and red tape we get with Democrats.

So there is no oil drilling going on in the US?

 

[Moonglow]

That's awesome!!!

Which Biden policy gets the credit?

Biden doesn't control the oil industry.

 

[badger2]

The US wants European disintegration, including POSPOTUS and his sleeP-up. Putin's take on aspects of energy, showing :

2022 Ap 13 Putin: Sanktsii protiv Rossii vyzvali nebyvalyi krisis i inflatsiiu na Zapad
Putin: Sanctions Against Russia Caused An Unprecedented Crisis and Inflation to the West

Путин: санкции против России вызвали небывалый кризис и инфляцию на Западе

Решение европейских и американских политиков ввести новые антироссийские ограничения привело к небывалому кризису на Западе, заявил Владимир Путин на совещании... РИА Новости, 13.04.2022

ria.ru

'...."Otkaz riada zapadnykh stran ot normal'nogo sotrudnichestva, v tom chisle ot rossiiskikh energoresursov - ot chasti kkhotia by iz ikh, uzhe udaril po millionam evropeitsev, sprovotsiroval nastoiashchii energeticheskii krisis, otrazhaetsia, kstati govoeria, i na SShA.
The Refusal of a number of Western countries from normal cooperation, including from Russian energy resources - from at least in part some of them, has already hit millions of Europeans, provoked a real energy crisis, and is by the way, reflected in the United States." '

 

[Lesh]

The US wants European disintegration, including POSPOTUS and his sleeP-up. Putin's take on aspects of energy, showing :

2022 Ap 13 Putin: Sanktsii protiv Rossii vyzvali nebyvalyi krisis i inflatsiiu na Zapad
Putin: Sanctions Against Russia Caused An Unprecedented Crisis and Inflation to the West

Путин: санкции против России вызвали небывалый кризис и инфляцию на Западе

Решение европейских и американских политиков ввести новые антироссийские ограничения привело к небывалому кризису на Западе, заявил Владимир Путин на совещании... РИА Новости, 13.04.2022

ria.ru

'...."Otkaz riada zapadnykh stran ot normal'nogo sotrudnichestva, v tom chisle ot rossiiskikh energoresursov - ot chasti kkhotia by iz ikh, uzhe udaril po millionam evropeitsev, sprovotsiroval nastoiashchii energeticheskii krisis, otrazhaetsia, kstati govoeria, i na SShA.
The Refusal of a number of Western countries from normal cooperation, including from Russian energy resources - from at least in part some of them, has already hit millions of Europeans, provoked a real energy crisis, and is by the way, reflected in the United States." '

Badger of course is a Russian sock puppet...so there's that

 

[badger2]

Badger of course is a Russian sock puppet...so there's that

Basic knowledge-envy from an IQ that hovers around 80.

2022 Ap 14 Putin: West's Attempt to Push Out Russian Energy Companies Will Impact Global Economy

Putin: West's Attempts to Push Out Russian Energy Companies Will Impact Global Economy

Following the start of Russia's special military operation in Ukraine several European countries, as well as the US, have called on other states to boycott Russian energy resources to punish Moscow. However, the notion is opposed by...

sputniknews.com

 

[badger2]

Putin now makes it more clear why POSPOTUS and his POS son wanted the resources of the Yuzivka gas field, which is (under [italics]) the Donbas battlefield.

 

[Toddsterpatriot]

Biden doesn't control the oil industry.

He certainly doesn't help it.

 

[task0778]

"Capital discipline" is just another way of saying putting a leash on capitalism's intimate relationship to the schizophrenic process, where it constantly sets, then repels, its own limits.

LOL, don't know what that means. Essentially capital discipline is about not making bad investments that are too risky. I don't see that as schizophrenic.

 

[surada]

Biden shut down the drilling by cancelling the drilling permits and the usual over-regulation and red tape we get with Democrats.

Nope.

 

[Lesh]

Basic knowledge-envy from an IQ that hovers around 80.

2022 Ap 14 Putin: West's Attempt to Push Out Russian Energy Companies Will Impact Global Economy

Putin: West's Attempts to Push Out Russian Energy Companies Will Impact Global Economy

Following the start of Russia's special military operation in Ukraine several European countries, as well as the US, have called on other states to boycott Russian energy resources to punish Moscow. However, the notion is opposed by...

sputniknews.com

Anything to protect Putin huh?

 

[bendog]

The latest quarterly survey put out by the Federal Reserve Bank of Dallas shows that most executives are reticent about ramping up drilling because of pressure from investors and lenders, not from government regulations. That said, in anonymous comment sections of the survey, the executives laid into Biden and other officials for getting in the industry’s way.
.
.
When asked why they aren’t raising production more, 59% of respondents said it was because investors are pressuring them to maintain capital discipline. Another 11% said it was because of the environmental social and governance movement, 8% said it was because of trouble accessing financing and 6% said it was because of government regulations. Another 15% marked “other,” which included things like “personnel shortages, limited availability of equipment, and supply-chain issues.”

“The industry is facing serious supply issues for the materials needed to grow production,” wrote one production executive in the comments section.

In addition, the Fed asked producers what price of West Texas Intermediate oil it would take for them to get back into “growth mode.” For 41%, they said they needed prices to be $80 to $99 a barrel, a level that WTI has already surpassed. But the second-most respondents—29%—said the price didn’t matter. That implies that they are sticking to their production plans no matter what, a departure from past oil booms.

Even if other factors are causing slow growth, several executives said in the comments section of the survey that political pressure—from the federal or state government—was hurting the industry.

“In the first quarter of 2021, I divested all properties in the state of Colorado due to the unbelievably hostile and increasingly aggressive regulatory environment driven by anti-fossil-fuel ideology,” said one oil producer. “The administration has no clue about the oil-and-gas industry,” an oil services executive said.

Texas Survey Shows Why Oil Producers Aren't Drilling More

Some 59% of the energy firms that responded said investors were pressuring them to maintain capital discipline.

www.barrons.com

The Biden Administration has made no secret of their desire to put the Oil & Gas industry out of business, and they have not been shy about doing whatever they can to make it more difficult to produce more oil and LNG. Even now, the Biden would rather buy foreign oil from people who are less constrained by environmental concerns and also release oil reserves that are supposed to be only for national emergencies.

I can't view the Barron's link. But for a nonpartisan look, here's the actual Dallas Fed Res report

Oil and Gas Activity Jumps; Costs Escalate, Supply-Chain Delays Worsen

Activity in the oil and gas sector expanded at a robust pace in second quarter 2022, according to oil and gas executives responding to the Dallas Fed Energy Survey.

www.dallasfed.org

It sort of shows improved exploration figures, but what I thought was interesting was the range of predictions for future oil prices. As the Motley Fool link below notes THAT is the key for whether people will sink their money and businesses into drilling.

Why Nobody Wants to "Drill, Baby, Drill"

Gasoline prices are high for consumers, but why don't oil companies want to drill for more oil? There's a good reason.

www.yahoo.com

That's not to give a like for Biden. I've said before his admin is at best schizophrenic about carbon, and that's why imo Manchin doesn't trust them. Neither do I. Why would anyone oppose pipelines for LNG from the Bakken fields? And now with Russia, they're crying.

But producers had uuuuuge losses in 2000, and the outlook for gasoline is at best uncertain. I've bought my last internal combustion car. I'm a bit curious as to where all this electricity will come from.

There's more in play than simple politics and saying 'oh if the president would just get out ot the way.' Gas prices went up way faster than anyone predicted, and I don't think many people saw the inflation coming although Biden cold have funded soc sec, medicare, and obamacare and even given people tax credits for child care ..... and getting fuking jobs, but that's OT.

 

[bendog]

Nope.

yeah the Biden Admin seems ... uncertain. But that's not the story on oil exploration. And people seem to not notice that gasoline refineries pretty much maxed out.

 

[Moonglow]

I can't view the Barron's link. But for a nonpartisan look, here's the actual Dallas Fed Res report

Oil and Gas Activity Jumps; Costs Escalate, Supply-Chain Delays Worsen

Activity in the oil and gas sector expanded at a robust pace in second quarter 2022, according to oil and gas executives responding to the Dallas Fed Energy Survey.

www.dallasfed.org

It sort of shows improved exploration figures, but what I thought was interesting was the range of predictions for future oil prices. As the Motley Fool link below notes THAT is the key for whether people will sink their money and businesses into drilling.

Why Nobody Wants to "Drill, Baby, Drill"

Gasoline prices are high for consumers, but why don't oil companies want to drill for more oil? There's a good reason.

www.yahoo.com

That's not to give a like for Biden. I've said before his admin is at best schizophrenic about carbon, and that's why imo Manchin doesn't trust them. Neither do I. Why would anyone oppose pipelines for LNG from the Bakken fields? And now with Russia, they're crying.

But producers had uuuuuge losses in 2000, and the outlook for gasoline is at best uncertain. I've bought my last internal combustion car. I'm a bit curious as to where all this electricity will come from.

There's more in play than simple politics and saying 'oh if the president would just get out ot the way.' Gas prices went up way faster than anyone predicted, and I don't think many people saw the inflation coming although Biden cold have funded soc sec, medicare, and obamacare and even given people tax credits for child care ..... and getting fuking jobs, but that's OT.

Washington-based U.S. District Court Judge James Boasberg in 2020 found that the government had violated a law called the National Environmental Policy Act and threw out the approval. Boasberg ordered a more detailed "environmental impact statement," which was the decision the pipeline operator was challenging.

Dakota Access pipeline suffers US Supreme Court setback - Reuters​

https://www.reuters.com › business › energy › us-supreme...

 

[surada]

yeah the Biden Admin seems ... uncertain. But that's not the story on oil exploration. And people seem to not notice that gasoline refineries pretty much maxed out.

There are several underused refineries in the Midwest.

 

[Resnic]

The latest quarterly survey put out by the Federal Reserve Bank of Dallas shows that most executives are reticent about ramping up drilling because of pressure from investors and lenders, not from government regulations. That said, in anonymous comment sections of the survey, the executives laid into Biden and other officials for getting in the industry’s way.
.
.
When asked why they aren’t raising production more, 59% of respondents said it was because investors are pressuring them to maintain capital discipline. Another 11% said it was because of the environmental social and governance movement, 8% said it was because of trouble accessing financing and 6% said it was because of government regulations. Another 15% marked “other,” which included things like “personnel shortages, limited availability of equipment, and supply-chain issues.”

“The industry is facing serious supply issues for the materials needed to grow production,” wrote one production executive in the comments section.

In addition, the Fed asked producers what price of West Texas Intermediate oil it would take for them to get back into “growth mode.” For 41%, they said they needed prices to be $80 to $99 a barrel, a level that WTI has already surpassed. But the second-most respondents—29%—said the price didn’t matter. That implies that they are sticking to their production plans no matter what, a departure from past oil booms.

Even if other factors are causing slow growth, several executives said in the comments section of the survey that political pressure—from the federal or state government—was hurting the industry.

“In the first quarter of 2021, I divested all properties in the state of Colorado due to the unbelievably hostile and increasingly aggressive regulatory environment driven by anti-fossil-fuel ideology,” said one oil producer. “The administration has no clue about the oil-and-gas industry,” an oil services executive said.

Texas Survey Shows Why Oil Producers Aren't Drilling More

Some 59% of the energy firms that responded said investors were pressuring them to maintain capital discipline.

www.barrons.com

The Biden Administration has made no secret of their desire to put the Oil & Gas industry out of business, and they have not been shy about doing whatever they can to make it more difficult to produce more oil and LNG. Even now, the Biden would rather buy foreign oil from people who are less constrained by environmental concerns and also release oil reserves that are supposed to be only for national emergencies.

As far as being pressured by investors you can thank esg scores for that. They are a very real thing and are directly influencing our country on every level. They use it in China in every day people's lives, here is still hiding behind the scenes.

Here are 2 videos of people explaining what a esg score is, how it works, and how it's effecting American people's lives. I post this because it's not well known so most people would ignore me talking about them.



This one takes a minute or two for him to get into it.

 

[surada]

Yes, but that only happens every so often.

Oil output in Permian to rise in August to highest on record -EIA

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 78,000 barrels per day (bpd) to a record 5.445 million bpd in August, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday.

www.reuters.com

 

[bendog]

There are several underused refineries in the Midwest.

I just don't see how "drilling more wells" will really impact the price of gasoline.

U.S. Refinery Utilization and Capacity

www.eia.gov

Now if the price of oil would drop, then sure. But there are factors more important that affect oil than Biden

 

[initforme]

Most everyone supports more oil production but they do not support shipping it off our shores when the american people need it. More more oil leaving our shores makes zero sense.

 

[Toddsterpatriot]

I just don't see how "drilling more wells" will really impact the price of gasoline.

U.S. Refinery Utilization and Capacity

www.eia.gov

Now if the price of oil would drop, then sure. But there are factors more important that affect oil than Biden

I just don't see how "drilling more wells" will really impact the price of gasoline.

Can't drill our way to lower prices?

 

[Toddsterpatriot]

Most everyone supports more oil production but they do not support shipping it off our shores when the american people need it. More more oil leaving our shores makes zero sense.

Most everyone supports more oil production

Except Biden......and half the dems in congress.