Biden Considering Easing Sanctions on Venezuela To Get More of Their Oil; No Plans to Ease Sanctions on US Oil Industry

[Obejoekenobe]

Big Oil isn't going to pay the cost for drilling more oil to bring it down when they can get YOU to pay 4-5$ a gal at the pumps.

And they can drill anytime they want.

There's no sanctions on Big Oil to drill.

They have 9,000 outstanding permits to drill and can do so at anytime!

They could've been drilling the day after Biden took office!

They could've been drilling to help bring down the costs of fuel AND lower inflation!

Nobody is stopping them.

So why aren't they?

 

[Harpy Eagle]

Wasn't 2019 higher than 2020 consumption----

of course 2019 was higher than 2020 consumption....

16% isn't going to get us anywhere..

It will get us where we need to go if we keep growing it. 16% in a year is a faster pace than the 3 Pre-COVID years under Trump.

 

[martybegan]

Big Oil isn't going to pay the cost for drilling more oil to bring it down when they can get YOU to pay 4-5$ a gal at the pumps.

And they can drill anytime they want.

There's no sanctions on Big Oil to drill.

They have 9,000 outstanding permits to drill and can do so at anytime!

They could've been drilling the day after Biden took office!

They could've been drilling to help bring down the costs of fuel AND lower inflation!

Nobody is stopping them.

So why aren't they?

Because the uncertain future of said drilling investments due to government policies discouraging fossil fuel use, as well as banks not wanting to invest in exploration and exploitation due to either pressure from activists, or concerns about said stated government policies?

Why invest in an oil field with a possible 10 year investment return if you think the government will shut you down in 5, or increase your costs via regulation?

 

[BluesLegend]

There are no sanctions on US oil companies.

LMAO no just a Dem moratorium on Federal leases, jacked up royalties making existing leases economically unviable, jacked up ridiculous government regulations making increasing production unviable, canceled oil pipelines, outright bans on drilling in some of our most promising lands. You people LIE we get it, go ahead keep on lying it won't save you from angry voters this Nov.

 

[Mac-7]

LMAO no just a Dem moratorium on Federal leases, jacked up royalties making existing leases economically unviable, jacked up ridiculous government regulations making increasing production unviable, canceled oil pipelines, outright bans on drilling in some of our most promising lands. You people LIE we get it, go ahead keep on lying it won't save you from angry voters this Nov.

Biden is a senile old fool who is being push around by radical greenies

 

[Mac-7]

of course 2019 was higher than 2020 consumption....


It will get us where we need to go if we keep growing it. 16% in a year is a faster pace than the 3 Pre-COVID years under Trump.

Thats just demand recovery from the stupid democrat economic shutdown

 

[surada]

LMAO no just a Dem moratorium on Federal leases, jacked up royalties making existing leases economically unviable, jacked up ridiculous government regulations making increasing production unviable, canceled oil pipelines, outright bans on drilling in some of our most promising lands. You people LIE we get it, go ahead keep on lying it won't save you from angry voters this Nov.

There's no moratorium on oil leases, no cancelled pipeline that would benefit the US and no bans on drilling. Rex tillerson called Trump a fucking moron. You too?

 

[surada]

Thats just demand recovery from the stupid democrat economic shutdown

Market demand has also increased.

 

[BluesLegend]

Biden is a senile old fool who is being push around by radical greenies

Dems are suffering the consequences of pandering to the radical oil hating left. I love watching voters scream at their stupid Dem party.

 

[BluesLegend]

There's no moratorium on oil leases, no cancelled pipeline that would benefit the US and no bans on drilling. Rex tillerson called Trump a fucking moron. You too?

Get lost liar, it's been litigated in court you moron.

 

[BluesLegend]

What Dem will publicly state that Biden is pro oil?

 

[maybelooking]

The red headed whore stands at the podium and tells us that U.S. oil production is the same as it was under Trump.

If thats the case, then why the need to go to other countries and beg for more production?

Liberals are clueless fucking morons. Even those like Golfing Gator that falsely claim to be "independent"

 

[Resnic]

Or...........we just go back to producing fuel sources in America like we did 2 years ago and save a whole lot of hassle and money and put a lot of people to work in one fell swoop.

All he has to do is pick up a pen and those problems go away by reversing his decision to undo everything trump did.

 

[Mac-7]

Market demand has also increased.

Ok

 

[Obejoekenobe]

Because the uncertain future of said drilling investments due to government policies discouraging fossil fuel use, as well as banks not wanting to invest in exploration and exploitation due to either pressure from activists, or concerns about said stated government policies?

Why invest in an oil field with a possible 10 year investment return if you think the government will shut you down in 5, or increase your costs via regulation?

Who's discouraging fossil fuel use in the time of war bringing high energy prices?

 

[martybegan]

Who's discouraging fossil fuel use in the time of war bringing high energy prices?

It's not about use, it's about production, both current and future. And reducing both in the name of climate politics.

 

[Mac-7]

of course 2019 was higher than 2020 consumption....


It will get us where we need to go if we keep growing it. 16% in a year is a faster pace than the 3 Pre-COVID years under Trump.

Instead of sucking up to venezuala biden should mend fences broken by democrats in congress who wanted to hang the saudi prince for murder

now old joe needs Saudi good will

Biden will have to humble himself and eat crow one way or another

and it makes sense to choose saudi arabia instead of venezuala

which means he will probably do the opposi

 

[Care4all]

Because the uncertain future of said drilling investments due to government policies discouraging fossil fuel use, as well as banks not wanting to invest in exploration and exploitation due to either pressure from activists, or concerns about said stated government policies?

Why invest in an oil field with a possible 10 year investment return if you think the government will shut you down in 5, or increase your costs via regulation?

The govt is not shutting down operating oil leases from what I've read...?

The govt is preventing or limiting new leases on certain federal land and National Parks, no?

There are 9000 or so signed existing oil leases with the federal govt, that have not been exercised....no exploration attempts... that they could do.

I don't believe there is the fear of investing only to 5 years later being shut down..

I think many leases are around a minimum of 25 years....thats why they are sitting on so many, they have time on their side, for exploration and development was my understanding of it?? Is that wrong?

I think keeping oil prices high, is good for them....the war of course is adding to
The rising prices which have been there for nearly a year... this benefits the stock holders, including themselves personally and also the company.....is more likely imho.

 

[martybegan]

The govt is not shutting down operating oil leases from what I've read...?

The govt is preventing or limiting new leases on certain federal land and National Parks, no?

There are 9000 or so signed existing oil leases with the federal govt, that have not been exercised....no exploration attempts... that they could do.

I don't believe there is the fear of investing only to 5 years later being shut down..

I think many leases are around a minimum of 25 years....thats why they are sitting on so many, they have time on their side, for exploration and development was my understanding of it?? Is that wrong?

I think keeping oil prices high, is good for them....the war of course is adding to
The rising prices which have been there for nearly a year... this benefits the stock holders, including themselves personally and also the company.....is more likely imho.

what are the quality of the existing leases vs. the ones being denied?

9000 shit leases is basically 9000 worthless pieces of land.

Democrats have made it a goal to shut down as much production as possible, "for the future". In that situation why would anyone risk capital on exploration or exploitation on anything but the most lucrative potential wellsites?

 

[Doc7505]

So, you agree Trump was responsible for the 20% cut of US oil production in 2020?

If you live in California, the price of one gallon of Regular gas is now $6.999/gallon. In December 2020 the highest price of gasoline was $2.95/gallon in California.
Don't tell us that it's Trump's fault.