Oil companies right now have 9,000 leases they can drill on. Why are they not drilling?

[DigitalDrifter]

Here's the kind of shit Dimocrats are working to do. You wonder why profits are so high? A third-grader can see it, when you have a political party that wants to destroy an industry, then obviously that industry is going to push for as high a price that they can get away with, for the remainder of time they'll be in business.

FINANCE

Democratic bill would force Fed to defund fossil fuels​

BY SYLVAN LANE - 09/15/21 3:05 PM ET



https://pressley.house.gov/sites/pressley.house.gov/files/Fossil Free Finance Act Bill Text.pdf

 

[Lesh]

So the minimum wage should be eliminated.

Minimum wage increases won't "double wages" retard

 

[DudleySmith]

Utter bullshit

View attachment 657230

So you might see a line there in Red...

The pipeline was first refused because Environmental Protection Agency (EPA) advised it would not:

• lower petrol prices
• create long-term jobs
• affect energy dependence

So it is one big piece of a Red Herring to rival up the Red Base on bullshit... When you got nothing this is what you do...

And the Peanut Gallery can easily see how much closer to tidewater the pipeline would been if they ran it over their own land.

 

[Maxdeath]

Nobody is bidding on ineccessable land.

And yet those are some of the leases put up. They do not have to bid on them and no one is saying they are. But, and here is where the big part of all of it lies, the claim is so many leases are put out. It does not say how many are being bid on. It does not say how many have known oil. It does not say any of that.

 

[percysunshine]

Fact-checking Biden’s claim that there are 9,000 unused oil drilling permits

Fact-checking President Joe Biden’s claim that there are 9,000 unused oil drilling permits. That's mostly true.

www.statesman.com

Seems they want to slow supply with demand going up that mean Cha ching. More record prices.

So why sit on these leases and not drill.

Oh yeah they have billions of reason not to.

Oil companies are still afraid of transgender car drivers.

 

[pknopp]

And yet those are some of the leases put up.

No they aren't.

 

[Maxdeath]

No they aren't.

And you base this on your extensive knowledge of the oil and gas industry correct?

 

[pknopp]

And you base this on your extensive knowledge of the oil and gas industry correct?

Common sense.

 

[Flash]

“No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill. Period.”

— Joe Biden, 2020pic.twitter.com/X5tcDOPtT8

 

[Maxdeath]

Common sense.

Well that certainly leaves it up for grabs. Since I know a lot more about the subject then you do I think you should just go sit in the corner

 

[busybee01]

They don't have enough crews for one thing.

I'm not putting it at the feet of the crackdown on illegal immigrants but that certainly didn't help. Also, having a lease on the books is not an indication of it being, to borrow an Obama term..."shovel ready".

I'm sure the profit motive has something to do with it. But it's not a simple money grab.

Yes it is a money grab. Oil executives have admitted that shareholders are the reason they are not increasing oil drilling.

 

[candycorn]

Yes it is a money grab. Oil executives have admitted that shareholders are the reason they are not increasing oil drilling.

Doubtful.

Retail gasoline isn't a huge money maker for the oil companies in general. Jet fuel is much more lucrative. So if you want to argue that the brass is deciding to allocate more petroleum for jet fuel than retail gasoline...you're probably right. Just like a brewery will make more Bud Light than Bud Select or whatever...you make what sells.

For oil refiners, now is the summer of distillate content

Refiners are planning to spend the summer increasing jet fuel and diesel production instead of gasoline, traders and analysts said, favoring what have historically been the least profitable parts of the barrel instead of the most profitable.

www.reuters.com

 

[lennypartiv]

Seems they want to slow supply with demand going up that mean Cha ching. More record prices.

Don't American companies have the right to make a profit?

 

[Lesh]

The oil companies are shutting down refineries

 

[Nostra]

The oil companies are shutting down refineries

They are? Why?

Please bring links.

 

[Big Bend Texas]

Without them the economy would flip out.


What do you think doubling wages would do to inflation?

That's the same justification for shipping our manufacturing jobs overseas.

 

[Rigby5]

Biden is 100 percent right

Look what our reliance on fossil fuels is buying us

So what else is there?
We took out nuclear, and wind and solar are too inconsistent.

 

[Big Bend Texas]

Biden is 100 percent right

Look what our reliance on fossil fuels is buying us

3 years of the best economy we'd had in decades during Trump's term until Covid hit.

 

[Big Bend Texas]

/----/ So why do democrats want high gas and inflation? If what you said is true, why aren't democrats lowering gas and inflation at least until the midterms are over so they can win?

Because they are owned by the Squad and their followers.

Biden promised to end fossil fuels to get elected.

 

[bigrebnc1775]

The republicans want it high, so they can resort to that fact during the midterms along with the crime and the border, inflation is top.

Biden wants high gas prices to make green energy look cheap.