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

surada

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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
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.

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.

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

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?

True, and there is more demand when there is less of a supply....keep up
LOLOL.. There's plenty of supply.. Have you ever heard of just in time inventory?

Storing oil above ground is a losing proposition.. Actually, its the height of stupidity. OPEC, Russia, Brent are all holding production down to keep the price viable.

You still haven't grasped the basics. .Just try to remember that the oil business is a business.
 
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surada

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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.
Anyone that understands the oil business or supply and demand knows what Biden is doing.
 
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healthmyths

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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..
If you have a clue, why don't you show us the links as to how global gas prices are set?
Here let me show you how easy it is.
First of all I've searched for US sell gas aboard and there were no results.
Primarily though because it is cheaper to export oil which some dummies here..(hhmmm) is used to refine "oil" into
gasoline...not gas which is a product of it's own but called correctly..natural gas, which is extracted from the ground.
As the below points out "oil/natural gas is exported true to these countries:
The top five destination countries of U.S. total gross petroleum exports, export volume, and share of total petroleum exports in 2019 were
  • Mexico—1.19 MMb/d—14%
  • Canada—1.04 MMb/d—12%
  • Japan—0.58 MMb/d—7%
  • South Korea—0.56 MMb/d—7%
  • Brazil—0.47 MMb/d—6%

So please tell me where "gasoline" is part of that export?
So again idiots without evidently accessing the internet don't seem to know this:
"Because of logistical, regulatory, and quality considerations, exporting some petroleum is the most economical way to meet the market's needs."
Again some "idiots" can't or are too ignorant to do some very little required time research...i.e. see above
CowboyTed
 

struth

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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
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.

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.

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

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?

True, and there is more demand when there is less of a supply....keep up
LOLOL.. There's plenty of supply.. Have you ever heard of just in time inventory?

Storing oil above ground is a losing proposition.. Actually, its the height of stupidity. OPEC, Russia, Brent are all holding production down to keep the price viable.

You still haven't grasped the basics. .Just try to remember that the oil business is a business.
Yes, they certainly have saved a lot, but the opportunites to renew the savings, has been paused.
 

Dekster

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I've become lost in the billion stacked posts, but just want to say a couple things. First, yes our "lift" costs are higher but that is because we are not sitting on the giant easy to get to oil reserves these OPEC nations are. Second , JIT inventory systems are good for businesses, but it is a fair weather model. We would not see the abrupt price changes we do if we had more slack built into our inventory system than we currently have. There was a point last year when a few companies' prices went negative---they had to pay someone to take the oil from them--because of the lack of demand and lack of storage. We missed a big opportunity to put a lot of oil in the tanks for pennies on the dollar.
 
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healthmyths

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I've become lost in the billion stacked posts, but just want to say a couple things. First, yes our "lift" costs are higher but that is because we are not sitting on the giant easy to get to oil reserves these OPEC nations are. Second , JIT inventory systems are good for businesses, but it is a fair weather model. We would not see the abrupt price changes we do if we had more slack built into our inventory system than we currently have. There was a point last year when a few companies' prices went negative---they had to pay someone to take the oil from them--because of the lack of demand and lack of storage. We missed a big opportunity to put a lot of oil in the tanks for pennies on the dollar.
But as far as this fact from the government Energy Information Administration state:
About a quarter (25%) 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
U.S. oil and natural gas production to fall in 2021, then rise in 2022 - Today in Energy - U.S. Energy Information Administration (EIA)
And that being a FACT... what would be the affect of Biden's moratorium on signing oil/gas exploration on federal land have on gas prices? If 25% comes from federal land, and now that's being banned...obviously non-federal land has to pick up the slack on future exploration/production. All of which adds to the cost of gas at the pump.
 

Nostra

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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.
Anyone that understands the oil business or supply and demand knows what Biden is doing.
Sez the clown who tried to give Barry Hussein credit for oil production increasing. :laughing0301:
 

surada

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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.
Anyone that understands the oil business or supply and demand knows what Biden is doing.
Sez the clown who tried to give Barry Hussein credit for oil production increasing. :laughing0301:
You're a liar.. I didn't give him credit at all. Oil production took off because the ppb was high and the oilmen borrowed money for new rigs, exploration and drilling to get in the game. They say "Make money while the sun shines".
 

AZrailwhale

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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.
In PA, it was 2.27/ga when Biden took over. I just hit $3.00. It is going up all over the country. Your little anecdotal post, which is probably a lie, doesn't mean squat.
I'm not lying. Gas was astronomical in the late 00's. Anyone older than like 25 would remember this.
Gas was less than thirty cents a gallon when I started driving in the early seventies. Gas prices decades ago have no relevance to today's prices. Biden's policies are driving up gas prices due to speculation just like they always do under democratic administrations. Speculators listen to what politicians say and that controls what they bids for oil futures.
 
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Claudette

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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.
In PA, it was 2.27/ga when Biden took over. I just hit $3.00. It is going up all over the country. Your little anecdotal post, which is probably a lie, doesn't mean squat.
I'm not lying. Gas was astronomical in the late 00's. Anyone older than like 25 would remember this.
Gas was less than thirty cents a gallon when I started driving in the early seventies. Gas prices decades ago have no relevance to today's prices. Biden's policies are driving up gas prices due to speculation just like they always do under democratic administrations. Speculators listen to what politicians say and that controls what they bids for oil futures.
Yup. When I was a kid gas was 19 cents a gallon. All the gas stations used to have little gas wars where they sold their gas for a few pennies less.

Then the fake oil shortage came around and in 2008 gas went for 4-5 dollars a gallon.

Here lately its been pretty good. Two months ago I paid 1.50 per gallon and now with Biden doing a way with drilling on Fed land and his hard on for fracking, gas is up to almost 3 dollars a gallon.

Speculators will drive that price up. Hope everyone is ready for expensive gas.
 

Nostra

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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.
Anyone that understands the oil business or supply and demand knows what Biden is doing.
Sez the clown who tried to give Barry Hussein credit for oil production increasing. :laughing0301:
You're a liar.. I didn't give him credit at all. Oil production took off because the ppb was high and the oilmen borrowed money for new rigs, exploration and drilling to get in the game. They say "Make money while the sun shines".
Hey stupid, you posted this:

1614967532270.png
 
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healthmyths

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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.
Attached are the policies and statements made when Biden was VP under Obama. Nothing has changed.
This about Biden's moratorium on Federal land leases for oil/gas exploration when you read Obama's statement to Brazil! Remember Obama's statement on Keystone pipeline.
Remember Obama saying he favored higher gas prices.
Then remember Obama being ok with 1,400 companies going bankrupt, 450,000 employees out of work and $100 Billion a year in Fed/State/local taxes wiped out. All of these are Biden's objectives also!
ObamaAntiBusiness.png
 

Claudette

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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.
Attached are the policies and statements made when Biden was VP under Obama. Nothing has changed.
This about Biden's moratorium on Federal land leases for oil/gas exploration when you read Obama's statement to Brazil! Remember Obama's statement on Keystone pipeline.
Remember Obama saying he favored higher gas prices.
Then remember Obama being ok with 1,400 companies going bankrupt, 450,000 employees out of work and $100 Billion a year in Fed/State/local taxes wiped out. All of these are Biden's objectives also!
View attachment 464472
Yup. Sound like a country killer to me.
 

Oldestyle

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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.
Gee, FFrench...what was it before Joe Biden was elected? Gas here in Florida is up about 50 cents a gallon since the election. Gas prices normally rise during the summer months. I'm predicting a $3 a gallon price before the 4th of July.
 

Dekster

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I've become lost in the billion stacked posts, but just want to say a couple things. First, yes our "lift" costs are higher but that is because we are not sitting on the giant easy to get to oil reserves these OPEC nations are. Second , JIT inventory systems are good for businesses, but it is a fair weather model. We would not see the abrupt price changes we do if we had more slack built into our inventory system than we currently have. There was a point last year when a few companies' prices went negative---they had to pay someone to take the oil from them--because of the lack of demand and lack of storage. We missed a big opportunity to put a lot of oil in the tanks for pennies on the dollar.
But as far as this fact from the government Energy Information Administration state:
About a quarter (25%) 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
U.S. oil and natural gas production to fall in 2021, then rise in 2022 - Today in Energy - U.S. Energy Information Administration (EIA)
And that being a FACT... what would be the affect of Biden's moratorium on signing oil/gas exploration on federal land have on gas prices? If 25% comes from federal land, and now that's being banned...obviously non-federal land has to pick up the slack on future exploration/production. All of which adds to the cost of gas at the pump.
None of that has anything to do with the post of mine you quoted which discussed lift costs and JIT inventory models only.

As for your non-sequitur position, I personally have not argued that this temporary ban affects oil supply in any way and I doubt it would as he will be POTUS for a blink of an eye before he is compost in relation to our oil supply and Joe's "pause" will be gone even faster.
 

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