Will Biden's moratorium on new oil and gas leases on federal lands cause gas prices to increase?

[surada]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

 

[surada]

Well, we got our answer....yes Biden's policies have caused gas prices to skyrocket.....hurting the poor and middle class Americans the most....and driving up the cost of products and services...thanks Xiden....making China great again..

That is soooooooooo ignorant. There has been NO DEMAND wordwide during covid.

 

[struth]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

 

[struth]

Well, we got our answer....yes Biden's policies have caused gas prices to skyrocket.....hurting the poor and middle class Americans the most....and driving up the cost of products and services...thanks Xiden....making China great again..

That is soooooooooo ignorant. There has been NO DEMAND wordwide during covid.

There is demand now, if there was no demand prices would be dropping not going up.

 

[surada]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

If the ppb doesn't increase you put domestic producers out of business. Oil companies have to make a profit unless you want to nationalize them and take the socialist route on energy prices.

 

[struth]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

If the ppb doesn't increase you put domestic producers out of business. Oil companies have to make a profit unless you want to nationalize them and take the socialist route on energy prices.

Right, they have to raise their prices to stay in business because of Biden's policies...that's what we have been saying

 

[surada]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

If the ppb doesn't increase you put domestic producers out of business. Oil companies have to make a profit unless you want to nationalize them and take the socialist route on energy prices.

Right, they have to raise their prices to stay in business because of Biden's policies...that's what we have been saying

LOLOL.. Nope.. The US has the highest lift costs in the world. Domestic producers need $60 to stay in the game. WTI and Brent are always a dollar more per barrel than OPEC. Biden has done NOTHING that impacts US production. This is political hysteria not facing reality. If you want cheap gasoline embrace socialism and nationalize Exxon, Chevron, Phillips Conoco etc. Me? I'll stick with capitalism.

 

[struth]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

If the ppb doesn't increase you put domestic producers out of business. Oil companies have to make a profit unless you want to nationalize them and take the socialist route on energy prices.

Right, they have to raise their prices to stay in business because of Biden's policies...that's what we have been saying

LOLOL.. Nope.. The US has the highest lift costs in the world. Domestic producers need $60 to stay in the game. WTI and Brent are always a dollar more per barrel than OPEC. Biden has done NOTHING that impacts US production. This is political hysteria not facing reality. If you want cheap gasoline embrace socialism and nationalize Exxon, Chevron, Phillips Conoco etc. Me? I'll stick with capitalism.

slowing product, equals higher prices.....thanks to Xiden

 

[surada]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

If the ppb doesn't increase you put domestic producers out of business. Oil companies have to make a profit unless you want to nationalize them and take the socialist route on energy prices.

Right, they have to raise their prices to stay in business because of Biden's policies...that's what we have been saying

LOLOL.. Nope.. The US has the highest lift costs in the world. Domestic producers need $60 to stay in the game. WTI and Brent are always a dollar more per barrel than OPEC. Biden has done NOTHING that impacts US production. This is political hysteria not facing reality. If you want cheap gasoline embrace socialism and nationalize Exxon, Chevron, Phillips Conoco etc. Me? I'll stick with capitalism.

slowing product, equals higher prices.....thanks to Xiden

LOLOL.. Increased demand raises prices , you idiot.

Can you read a chart?

WTI Crude Oil Prices - 10 Year Daily Chart

Interactive chart showing the daily closing price for West Texas Intermediate (NYMEX) Crude Oil over the last 10 years. The prices shown are in U.S. dollars.

www.macrotrends.net

 

[Claudette]

Good news for you righties.. the economy is about to take off under a a Democrat again and there will be some price inflation. You can go back to ignoring economic growth, stock growth, and deficit reduction under Biden in years 2-4 and focus on gas moving off practically a 10 year low.

Boy are you dreaming. Once Biden's EO's and green shit kick in we will be lucky to dodge the Second Great Depression. Nothing he's done has helped America or Americans.

Those that voted for his stupid ass will be regretting it. New Mexico already does. They went for Biden and he promptly dumped over 11,000 in the unemployed line. I'd bet thousands more will get there as well.

After four years of the Biden/Harris shit show I'd bet a Dem couldn't get elected to ride the back of a garbage truck.

 

[surada]

Good news for you righties.. the economy is about to take off under a a Democrat again and there will be some price inflation. You can go back to ignoring economic growth, stock growth, and deficit reduction under Biden in years 2-4 and focus on gas moving off practically a 10 year low.

Boy are you dreaming. Once Biden's EO's and green shit kick in we will be lucky to dodge the Second Great Depression. Nothing he's done has helped America or Americans.

Those that voted for his stupid ass will be regretting it. New Mexico already does. They went for Biden and he promptly dumped over 11,000 in the unemployed line. I'd bet thousands more will get there as well.

After four years of the Biden/Harris shit show I'd bet a Dem couldn't get elected to ride the back of a garbage truck.

LOLOL.. More Trumpie hysteria.. Who are these 11,000?

 

[healthmyths]

Good news for you righties.. the economy is about to take off under a a Democrat again and there will be some price inflation. You can go back to ignoring economic growth, stock growth, and deficit reduction under Biden in years 2-4 and focus on gas moving off practically a 10 year low.

Boy are you dreaming. Once Biden's EO's and green shit kick in we will be lucky to dodge the Second Great Depression. Nothing he's done has helped America or Americans.

Those that voted for his stupid ass will be regretting it. New Mexico already does. They went for Biden and he promptly dumped over 11,000 in the unemployed line. I'd bet thousands more will get there as well.

After four years of the Biden/Harris shit show I'd bet a Dem couldn't get elected to ride the back of a garbage truck.

As far as Biden's affect on the economy I agree 100% BUT until the MSM becomes the objective observers that don't present the
news biased towards the Dems. Without offending the "freedom of the press"... we need more counterbalance from the news, i.e. more intelligent, educated and INFORMED public.

 

[Nostra]

What's with this weird lie that gas prises are "rising"?

Gas prices are lowering. Gas was nearly $3.75 in Texas in 2008.

EDIT: for reference, I filled up earlier this week and it's $2.49/ga right now.

Boy are you stupid. In 2008 some folks were paying $5.00 gallon. That was Obama's great economy.

The price of gas has been way down and two months ago I paid $1.50 for gas. Today its almost $3 a gallon.

LOLOL.. The price per barrel was HIGH on the world market in 2008 that's why exploration and drilling increased so dramatically. Do you understand the realities here. See Sept 2008 on the chart below.
You shoulda stayed gone.

Oil production on Federal property dropped under Barry Hussien.

Overall oil production soared IN SPITE of Barry, not because of Barry. He had nothing to do with it, and actively worked against it, Stupid.

Oil, gas production on federal land tanked under Obama

Another piece of President Barack Obama’s energy legacy: Oil and natural gas activity on federal lands tanked under his administration even as production on private property increased.

www.washingtontimes.com

 

[Nostra]

Seriously no fucking clue on this thread how Global gas prices are set...

Do some of the idiots on this thread know that US sell Gas aboard and will continue to sell it aboard if they get better prices...

This is called a global market... There is a global price for gas....

And Biden giving or restricting Federal land has minimal effect..

ALL ABOARD!!!!

 

[healthmyths]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

If the ppb doesn't increase you put domestic producers out of business. Oil companies have to make a profit unless you want to nationalize them and take the socialist route on energy prices.

Right, they have to raise their prices to stay in business because of Biden's policies...that's what we have been saying

LOLOL.. Nope.. The US has the highest lift costs in the world. Domestic producers need $60 to stay in the game. WTI and Brent are always a dollar more per barrel than OPEC. Biden has done NOTHING that impacts US production. This is political hysteria not facing reality. If you want cheap gasoline embrace socialism and nationalize Exxon, Chevron, Phillips Conoco etc. Me? I'll stick with capitalism.

Says YOU! " Biden has done NOTHING that impacts US production." Where is your proof since YOU never share links validating you dumb ass personal and subjective opinion! LOOK at the FACTS dummy!
A)About a quarter (25%) of U.S. oil and an eighth of the nation's natural gas is produced on federal lands.
Supporting link: U.S. oil and natural gas production to fall in 2021, then rise in 2022 - Today in Energy - U.S. Energy Information Administration (EIA)
B) Who signed executive orders regarding Federal leases for oil/gas exploration?
While existing oil and gas wells can continue to operate, such a move would put oil companies on federal lands and in the Gulf of Mexico on a ticking clock and eventually reduce U.S. oil ...'
Support link: Biden suspends federal oil and gas leasing for 60 days

 

[healthmyths]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Sorry don't believe you! Where is your links, your substantiation?
YOU ARE GUESSING!!! Get me a link that I can go to and verify you are right but until then...that is JUST your personal uninformed opinion! FACTS not guesses! Where's the "science"????

 

[healthmyths]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

"About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data"

bolding/size mine

Cool you have learned how to play with fonts. Perhaps you can learn to make your own sentences with your own thoughts or information at the rate you are going.....

YOU should talk! Where are your links for your personal guesses? People like you complain regarding COVID "use the science" well
in simpler terms, why can't you provide the data, or links to your personal, subjective comments? Lazy?

 

[Admiral Rockwell Tory]

What's with this weird lie that gas prises are "rising"?

Gas prices are lowering. Gas was nearly $3.75 in Texas in 2008.

EDIT: for reference, I filled up earlier this week and it's $2.49/ga right now.

Yes, it's about $2.49 here too. However, that's up from the $1.69 it was when Biden was sworn in.

 

[struth]

Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average

AAA Gas Prices

If the rate continues at even half or 15% per month a year from now? At least $11/gal...(close to what Obama wanted..equal to Europe).

Tue January 26, 2021
President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans. The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.

Biden to halt new oil and gas leases on federal lands Wednesday | CNN Politics

President Joe Biden is set to order a moratorium on new oil and gas leases on federal lands on Wednesday, according to a person familiar with his plans.

www.cnn.com

Killing more Texas jobs," Brady said in a Jan. 22 tweet. "After killing #KeystoneXL pipeline, #Biden suspends new oil/gas leasing on fed lands/water. If permanent, 120,000 TX jobs lost. 120,000 MORE jobless. Pssst... aren't you supposed to CREATE jobs?"

Biden’s move will have a disproportionate effect on states with large swaths of federal lands used for oil and gas activity. New Mexico, for instance, has 24 million acres of federal land, or about 32% of the state’s total land mass; Wyoming has 29 million federally owned acres, or about 47% of the state.

Fact-check: Will Biden’s drilling ban on federal leases 'kill' 120,000 Texas jobs?

U.S. Rep. Kevin Brady, R-Texas, expressed concern over how Biden's ban on federal land leasing would impact jobs in Texas’ oil and gas sector.

www.statesman.com

Oil from federal lands tops 1B barrels as Trump eases rules

Oil from federal lands tops 1B barrels as Trump eases rules

BILLINGS, Mont. (AP) — Oil production from U.S.- managed lands and waters topped a record 1 billion barrels last year, federal officials said Tuesday, as technological advances helped drive development in new areas and the Trump administration eases rules on the industry. The production figure...

apnews.com

About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data

I can't imagine the current rise in prices has much to do with it. There is a lot of lead time between getting permits and actual production.

The oil majors really don't want to drill on Federal lands. The regulations have always been ornerous.. even back during the Bush presidency..

So what does this represent?
About a quarter of U.S. oil and an eighth of the nation's natural gas is produced on federal lands. In Colorado, the Bureau of Land Management had leased 2.5 million acres to oiland gas companies through 2019, according to federal data
If they don't want to then why how does 25% of US oil come from federal lands?

About half of leases on federal land never get developed. They don't even get test wells. Lot of speculation in the oil and natural gas lease field.

Yep.. Is it half? I knew it was counted in thousands of leases.

" Oil and gas production was occurring on less than half of the more than 26 million acres of land already under a federal lease by the end of fiscal 2019, according to the most recent federal Bureau of Land Management data, which doesn’t include millions of acres leased in the Trump administration’s final year. " Oil, Gas Industry Stockpiled Drilling Leases Before Biden ‘Pause’

Good article.

"President Joe Biden imposed what he described as a “pause” on federal oil and gas leasing on Wednesday as part of his climate policy—while allowing millions of acres of existing leases to remain unaffected. Nevertheless, industry representatives and elected officials in the West lambasted the move, saying it’ll deprive Western states of much-needed income for basic state services.

But the industry’s “huge inventory” of undeveloped existing leases and drilling permits are evidence that the oil and gas industry anticipated a “pause” in leasing long ago, said John Leshy, a law professor at the University of California, Hastings and former Interior solicitor in the Clinton administration.

That “makes the ‘sky is falling’ rhetoric from the industry and its allies a bit over the top,” Leshy said Thursday. “Especially since many of the Trump-era lease offerings attracted no bids, or only minimum bids.”

There is no clue as to win the "pause" is going to be lifted, those they have to dip into their savings....when someone has to deep into their savings, they are often very conservative on how it's used, in the case of a business that drives up prices.

If the ppb doesn't increase you put domestic producers out of business. Oil companies have to make a profit unless you want to nationalize them and take the socialist route on energy prices.

Right, they have to raise their prices to stay in business because of Biden's policies...that's what we have been saying

LOLOL.. Nope.. The US has the highest lift costs in the world. Domestic producers need $60 to stay in the game. WTI and Brent are always a dollar more per barrel than OPEC. Biden has done NOTHING that impacts US production. This is political hysteria not facing reality. If you want cheap gasoline embrace socialism and nationalize Exxon, Chevron, Phillips Conoco etc. Me? I'll stick with capitalism.

slowing product, equals higher prices.....thanks to Xiden

LOLOL.. Increased demand raises prices , you idiot.

Can you read a chart?

WTI Crude Oil Prices - 10 Year Daily Chart

Interactive chart showing the daily closing price for West Texas Intermediate (NYMEX) Crude Oil over the last 10 years. The prices shown are in U.S. dollars.

www.macrotrends.net

True, and there is more demand when there is less of a supply....keep up

 

[Claudette]

Good news for you righties.. the economy is about to take off under a a Democrat again and there will be some price inflation. You can go back to ignoring economic growth, stock growth, and deficit reduction under Biden in years 2-4 and focus on gas moving off practically a 10 year low.

Boy are you dreaming. Once Biden's EO's and green shit kick in we will be lucky to dodge the Second Great Depression. Nothing he's done has helped America or Americans.

Those that voted for his stupid ass will be regretting it. New Mexico already does. They went for Biden and he promptly dumped over 11,000 in the unemployed line. I'd bet thousands more will get there as well.

After four years of the Biden/Harris shit show I'd bet a Dem couldn't get elected to ride the back of a garbage truck.

As far as Biden's affect on the economy I agree 100% BUT until the MSM becomes the objective observers that don't present the
news biased towards the Dems. Without offending the "freedom of the press"... we need more counterbalance from the news, i.e. more intelligent, educated and INFORMED public.

I agree. Biden is the MSM new royalty. They sure aren't reporting what he's actually doing. If they did no one would vote Dem again.