Biden Gaslights Oil Companies While Weakening Readiness

[Borgia_dude]

@Ben_Natuf

no, i don’t. there are 5000 leases with permits pending. what could be produced from them if blm would get off the stick and approve the permits? there are at least 2000 in litigation also.

brandon could do something about the 5000. he hasn’t. he just keeps going on about the leases they aren’t drilling on without acknowledging that until blm approves the permits, they can’t

There is no delay in approving permits for The Permian (Texas). I know you guys are sick of me harping on this but it is important. The reason we achieved energy independence is due to unconventional oil assets and the undisputed king of unconventionals is The Permian basin. Luckily for us, most of The Permian is on private land, where Biden could not stop drilling.

So while you guys are falling for smokescreens like ANWR, which almost all oil companies aren’t really interested in, or Keystone (which wouldn’t really change actual production), the real potential to lift production is in Texas. There are no permit impediments in Texas.

You guys are focusing on the nearly irrelevant oil areas and ignoring the important one.

And as I have said numerous times, nothing is stopping oil companies from hiring more rigs in Texas except:

1. Capital discipline - they have become very risk averse and investment dried up because for years they did not provide a good ROI to their investors. Now they are sticking to planned 2022 budgets in order to demonstrate capital discipline to their investors. There are other factors that I would throw into this bucket as well but I won’t belabor them now.

2. Labor shortage - lots of people have left the industry during the downturn and have no interest in coming back. There was a great downsizing by Oil&Gas in 2020 where many people were let go or retired. Now, in a hot jobs market, it is attrition as better opportunities lie elsewhere. My group has lost people to Amazon and Microsoft just in the last two months. On the rig, ex-righands got other jobs in the downturn and have little interest in rejoining an industry they have lost faith in, especially while other lucrative opportunities exist.

3. Steel shortage - every well requires miles of casing and tubing.

4. Sand shortage - you wouldn’t frac a well without sand to hold open the frac.

Note what isn’t on the list…permitting because permits are pretty easy to get in Texas. If you don’t believe me about #1-#4 above, what do you think is stopping O&G companies operating in the Permian from increasing rig count?

[fallenturtle]

@Rodeo

@fallenturtle

Focus focus focus… we’re talking about oil.

Context…your boy sucks at his job.

My boy is 6 and doesn’t have a job.

[fallenturtle]

@Rodeo

@fallenturtle

How does that help us now?

Absolutely predictable response. Seems like nothing from you leftists ever actually helps does it. That was the point of my post.

Clueless Joe representing you people is great at breaking things…terrible at fixing things. “How does that help us now?” Should be inscribed on the tombstone of this abysmal presidency.

Do try to focus.

Yes yes, I get it, you don’t like Biden and how he’s running things.

You don’t think prices will drop when the Russia/Ukraine conflict ends and global production ramps back up to pre-covid levels?

[Bigjohn]

And what have the energy companies done well I can tell you they have throttled back domestic production in their fields by the combined amount of oil being released from the strategic reserve. Some minor mom and pop operators in the shale play have opened the taps but the majors not so much.

[Borgia_dude]

@Bigjohn

And what have the energy companies done well I can tell you they have throttled back domestic production in their fields by the combined amount of oil being released from the strategic reserve. Some minor mom and pop operators in the shale play have opened the taps but the majors not so much.

True. Majors are holding back purposely.

[Bigjohn]

Stock holder pressure

[WuWei]

Permits

[WuWei]

@PurpnGold

@Ben_Natuf

already did

5000 being held up by permits, thousands more in litigation.

lie about somebody else

What about the leases they have fully ready to drill, that they aren’t drilling yet?

You still haven’t addressed why that is…

Permits and leases are two different things.

[PeterGriffin]

@Ben_Natuf

maybe the bureau of land management should approve more permits

Drilling permits spiked then plunged under Biden - E&E News by POLITICO

leases are only the first step

Since we’re all about “hOnESt dIsCuSsiOn” you’re pointing to federal leases, which Biden did pause to go back and fix all the regulations Trump waived, namely how long you can flare off, spill remediation and benzene capture. At any point in time a very small number of oil and gas wells are drilled in Fed land no matter who is President.

Now, in the interest of discussion, post up some of those articles you skipped over looking for this one that show the Biden admin issuing land permits at 30+% of a faster clip then his predecessor and the largest lease sale in history in the Gulf of Mexico.

[Ben_Natuf]

your permit claim is false. permits rose at first when biden came in, under trump’s rules. they have since plunged. and leases are the first step. with more than 7000 permits applied for and waiting for, why would they currently apply for new ones? there aren’t rigs available to drill on all the permits they’ve applied for now

[Camp]

[conan]

LOL at libs…this thread didn’t age very well for em.

[Ben_Natuf]

And now he will tap the reserve yet again bringing it dangerously low with no plan to refill when there is absolutely no reason to while lying about leases, blaming their lies on Trump and continuing to slow walk permits.

[WuWei]

Here too

Biden admin quietly admits White House's 9,000 unused oil permits talking...

[Bosun]

The One Horse Dog Face Pony Soldier also known as Potatoe Joe gaslights reality.

[Bosun]

Buden is undefendable to any reality based person. This One Horse Dog Face Pony Soldier Clown Show is down right embarrassing.

[Camp]