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

[Nova78]

Green renewable energy is our future

Do you enjoy paying $5 a gallon for gas?

No, but Biden is jacking off about it, he loves it.

 

[rightwinger]

Just because it is a lease does not mean there is oil there. I cost millions just to find it.
Why would oil companies invest in more drilling when shit for brains wants to shut them all down?
Biden says he would transition out of the oil industry by eliminating subsidies for oil companies, which would lead to catastrophic job losses for American workers.
President Joe Biden’s pick for a top banking regulatory position said “we want” oil and gas companies to go bankrupt.

Why should we subsidize billion dollar oil companies?

 

[rightwinger]

No, but Biden is jacking off about it, he loves it.

Big Oil is jacking off over record gas prices too

 

[Kondor3]

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.

How many of those leases represent...

1. land where exploration may be conducted?

2. land where drill-worthy oil reserves are known to exist below ground?

Or are leases only granted AFTER the land has been proven to contain drill-worthy oil reserves?

-----------

The answers here would inform a great many folks' opinions on the subject.

-----------

Translation:

* just because you have a lease giving you permission to drill does not mean that it is worth drilling on that particular land

* if many or most of those leases are merely exploration -caliber prospects then that's a far cry from having a drill-worthy oil pocket below ground

* if a lot of those leases are not drill-worthy then that 9,000 Leases number doesn't mean very much after all

"Asking for a friend"

 

[LeftofLeft]

Those "parasites from Mexico" pick your vegetables, package your meat, tend to your landscaping, and do a lot of the construction...

JS

Any Mexican that wants to come to the US legitimately

How does that punish big oil?
Telling them that fossil fuels have a limited future?
They should already know that

If Oil Companies don’t adapt, they will become the next coal

You ignored the core part of my argument as to why and how oil companies are at a minimum, not being helped by the Biden-Harris administration.

I am not a defender of the Oil companies. I am a defender of a strong economy. Pushing policy that has a negative impact on the price of oil in the absence of a viable alternative to oil hurts the economy.

Accelerate viable alternatives to oil through investment and incentives. Try and incentivize the oil industry into becoming alternative energy partners. Twenty years ago, telecom companies were afraid to embrace voice over IP communications because they did not want to hurt their long distance minutes revenue streams. Viable alternatives pushed them to embrace alternatives.

 

[rightwinger]

Any Mexican that wants to come to the US legitimately

You ignored the core part of my argument as to why and how oil companies are at a minimum, not being helped by the Biden-Harris administration.

I am not a defender of the Oil companies. I am a defender of a strong economy. Pushing policy that has a negative impact on the price of oil in the absence of a viable alternative to oil hurts the economy.

Accelerate viable alternatives to oil through investment and incentives. Try and incentivize the oil industry into becoming alternative energy partners. Twenty years ago, telecom companies were afraid to embrace voice over IP communications because they did not want to hurt their long distance minutes revenue streams. Viable alternatives pushed them to embrace alternatives.

If ever there was a time to dump Big Oil
Today is that time

 

[kyzr]

Yeah, that's it. As 9,000+ drilling leases go unused.
My goodness, you people. This is why I don't bother. Your arrogant ignorance is depressing.

Yeah, okay, pull those leases, that will fix things.
Democrats simply do not understand the energy business.
Democrats have a policy agenda that is incompatible with cheap energy.
This will not end well.

 

[kyzr]

He is trying
One political party keeps blocking it

What is Biden doing to bring more energy that Republicans are blocking? I call bullshit.
Biden's "war on energy" is why we're in this mess to begin with.
So how will Biden lower gas prices...I'm waiting...and Republicans are blocking...

 

[kyzr]

If ever there was a time to dump Big Oil
Today is that time

..and do what exactly?

 

[kyzr]

Big Oil is jacking off over record gas prices too

Thanks to Xiden's "war on energy"...

 

[whitehall]

Is there still a faction of society so loyal to Brandon that they think high gas prices are the fault of oil companies? You gotta be kidding.

 

[Nova78]

If ever there was a time to dump Big Oil
Today is that time

yea, along with this Country, The economy would collapse in a matter of weeks. You would be eating tree bark for dinner.

 

[DudleySmith]

The big companies have been explaining why they aren't drilling for almost a year now. Geez people, read the real news once in a while; they aren't keeping it a secret.

 

[DudleySmith]

Is there still a faction of society so loyal to Brandon that they think high gas prices are the fault of oil companies? You gotta be kidding.

lol big oil companies have been saying why they aren't re-investing in drilling for a long time now; profits are through the roof and they don't need to, they're paying their profits out in dividends.

 

[berg80]

No, but Biden is jacking off about it, he loves it.

So..........you think Biden is happy about what is arguably the number one cause of inflation? Even though, hat in hand, he has gone to US and international oil producers asking them to produce more, released oil from the SPR, and has not initiated any material impediments to US producers oil output. You think he is trying to sabotage his own agenda by making inflation the #1 issue going in to the midterms? Your comment, that's referred to as gaslighting.

 

[berg80]

The big companies have been explaining why they aren't drilling for almost a year now. Geez people, read the real news once in a while; they aren't keeping it a secret.

Problem is, what they are reading is propaganda pretending to be news.

 

[DudleySmith]

1. The pipeline would have been finished by the end of 2022 adding 500,000 bpd of Canadian oil.
2. The US oil production fell under Biden from 13m bpd under Trump to 11.5m bpd under Xiden

Could the Keystone XL pipeline help lower U.S. gas prices?

As prices at the pump surge, GOP leaders see the suspended oil pipeline as a solution. But the answer isn't so simple.

finance.yahoo.com

Could the Keystone XL pipeline help lower U.S. gas prices?

As prices at the pump surge, GOP leaders see the suspended oil pipeline as a solution. But the answer isn't so simple.

www.cbsnews.com

Rubbish. it wouldn't add a single drop to production, and that sludge from Canada isn't used to produce much fuel anyway, the yields are too small.

 

[JohnDB]

So according to you, (with not one shred of proof by the way) hedge fund managers are telling railroads to create chaos? Talk about "conspiracy theories"! First of all where is your PROOF? Secondly exactly how does a hedge fund manager
ORDER... tell railroads (by the way who do they tell?) to "create chaos"... just curious what kind of chaos can a train create at the ports? Please provide links etc. to share your "proof" of this conspiracy theory.

There's a video running around showing the CEO of Flying J testifying before congress (and providing evidence) concerning exactly what I have related.
A simple DDG or Google search ought to pop it right up.
It's pretty much an easy search.

 

[JohnDB]

All very true. But what are the options? Fusion is a mirage. No fossil due to CO2. Renewables are unreliable.
US Nuke plants are aging. We need a lot more power to charge EVs, so what do we do?

Personally, I believe that we need to use a variety of energy sources....and begin to be more efficient in a collaborative fashion instead of adversarial fashion.

Engineers love to figure things out...let them. They can have large SUVs obtain a reliable 50mpg (21km per liter) but because of the adversarial relationship carmakers have with the government agencies it isn't going to happen. Currently they are attacking oil companies like ExxonMobil and etc....they just provide a demanded product.

 

[Nova78]

So..........you think Biden is happy about what is arguably the number one cause of inflation? Even though, hat in hand, he has gone to US and international oil producers asking them to produce more, released oil from the SPR, and has not initiated any material impediments to US producers oil output. You think he is trying to sabotage his own agenda by making inflation the #1 issue going in to the midterms? Your comment, that's referred to as gaslighting.

Yours is referred to as trolling, now go cut your lawn with your wimpy electric lawn mower.