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

[healthmyths]

"We" are not doing that (the people/government)

Private companies are doing that where it is happening

So Biden is either lying or telling the truth in the following 3 statements:
"I want you to look into my eyes, I guarantee We Are Going To Get Rid of Fossil Fuels”

And wants to throw oil executives into jail... “we should put them in jail” when talking about fossil fuel executives.

Joe Biden on fossil fuel executives: 'We should put them in jail!'

Joe Biden said Sunday that fossil fuel executives should be jailed - but failed to mention that his son was on the board of a Ukrainian natural gas firm.

www.dailymail.co.uk

The royalty rate for new leases will increase to 18.75% from 12.5%. That's a 50% jump and marks the first increase to royalties for the federal government since they were imposed in the 1920s.

Biden increases oil royalty rate and scales back lease sales on federal lands

The U.S. government will sharply boost royalty rates for companies as federal officials weigh efforts to fight climate change against pressure to bring down high gasoline prices.

www.npr.org

So oil company workers can look at 3 statements and actions by Biden and wonder what their future is and therefore why should they work any more?
1) He wants to throw them in jail.
2) He wants to rid oil/coal, i.e. fossil fuels. Put them out of business. Make them unemployed.
3) He raises the cost of finding oil on Federal lands as well as halting the leasing of federal lands.

What would you do if your industry was told it was going to be obsolete, people put in jail and the cost is going up?

 

[Maxdeath]

This is nothing new
Jimmy Carter advocated getting off of Fossil Fuels 45 years ago

Meanwhile, it has been Drill Baby, Drill ever since

Biden wants us to move away from dependence on Fossil Fuels. Long overdue

Eliminate the power of Russia and the Saudi thugs

And yet there is no plan in place and none even in the future of how to replace it. Seems someone should at least have some plan about how to replace fossil fuels before we actually try to do that. Or would that be planning ahead and just to much of a thought proces?

 

[LeftofLeft]

The demand for Electric is there
Just hard to fill all the orders

What demand? Is Electric going to fly planes? Can it run cars without people frying themselves? Cars are already expensive…. Are electric cars lower or do they at least have a lower cost of ownership? Oh yea, oil helps generate electricity and is used in wind generators.

 

[kyzr]

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.

You're either a liar or stupid.
The KeystoneXL would have been complete the end of 2022 and would add 500,000 bpd of oil, that is a FACT.
So "pedo Joe" would rather buy oil from Venezuela or the ME or Russia than Canada?
Not even counting the reduced US production. I'd call pedo Joe's "war on US energy" criminal.

 

[kyzr]

You need refining capacity which, at the moment is down 5 refineries. You can drill till hell freezes over, but not enough refineries, not enough gas.
Just wait until a hurricane shuts some of whats left down.Think it's bad now?

What shut those refineries down, Joe's over-regulation?

 

[healthmyths]

And yet there is no plan in place and none even in the future of how to replace it. Seems someone should at least have some plan about how to replace fossil fuels before we actually try to do that. Or would that be planning ahead and just to much of a thought proces?

When you have a president who stupidly tells a black radio personality..

Biden: If You Don't Vote for Me, 'You Ain't Black'​

 

[Lesh]

What shut those refineries down, Joe's over-regulation?

nope

Corporate profit motive

 

[DigitalDrifter]

Here's the kind of rhetoric we continue to hear from Dimocrats:

"Biden’s initial nominee for Controller of the Currency, Marxist-trained Saule Omarova, is on record saying, “Here what I’m thinking about is primarily coal industry and oil and gas industry. A lot of the smaller players in that industry are going to probably go bankrupt in short order, at least we want them to go bankrupt if we want to tackle climate change.”

 

[DigitalDrifter]

Sarah Bloom Raskin, Biden’s first nominee as the Federal Reserve’s vice chair for supervision, called for restricting financing for the oil and gas industry. Translation: Don’t let free markets decide what people want; the federal government knows best.

U.S. Chamber issues rare warning on Fed nominee Raskin, citing oil, gas views​

WASHINGTON (Reuters) -The U.S. Chamber of Commerce on Thursday sent an unprecedented letter to lawmakers raising concerns about Sarah Bloom Raskin, President Joe Biden's nominee as the Federal Reserve's vice chair for supervision, and her calls for federal regulators to transition financing away from the fossil fuel industry.

The U.S. industry lobby group urged leaders of the Senate Banking Committee to question Raskin about those statements and her criticism of the Fed for allowing oil and gas companies to access emergency pandemic funds, among other issues.

U.S. Chamber issues rare warning on Fed nominee Raskin, citing oil, gas views

WASHINGTON (Reuters) -The U.S. Chamber of Commerce on Thursday sent an unprecedented letter to lawmakers raising concerns about Sarah Bloom Raskin, President Joe Biden's nominee as the Federal Reserve's vice chair for supervision, and her calls for federal regulators to transition financing away...

finance.yahoo.com

 

[DigitalDrifter]

In May, Interior Secretary Debra Haaland, whose department administers oil and gas leases, repeatedly refused to say that gas prices are too high. Wyoming Sen. John Barrasso asked her point blank: “Do you believe that gas prices are too high?” The obvious answer was: “Yes, senator, of course they are.” But instead, Haaland avoided answering the question. When Barrasso asked again, “It sounds you’re unwilling to say that gas prices are too high,” she still refused to say they were.

 

[DigitalDrifter]

Biden himself let the cat out of the bag. At a Tokyo news conference, he admitted, “Here’s the situation, when it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels.” Translation: Higher gas prices will force drivers to “transition” to electric cars.

 

[Lesh]

Yea...anyone you don't like is a Marxist,,,or a pedo...or a groomer...or whatever the insult of the moment is

 

[JimH52]

Oil companies look at the trend in the automobile industry and see the threat of going full out fossil fuel. By the time some of these well begin producing...electric autos could be going strong.

 

[DigitalDrifter]

In 2018, the U.S. was the world’s largest oil producer and a net exporter of oil and gas, reducing the world’s dependence on Saudi Arabia and Russia. Domestic oil production’s importance is all too clear today with Russian oil sanctioned and Saudi Arabia wavering between the Russians and us.

Having shrunken our oil and gas industry, it’s pitiful now to see Biden offering to eliminate sanctions on Marxist Venezuela’s oil and allow Chevron to return to that country to resume oil production to make up for what he’s shuttered in the U.S.

Oil companies in this country can see the handwriting on the wall. Drilling new wells requires a lot of upfront money that will take years to pay back. Company executives are understandably reluctant to launch new ventures amid today’s poisonous anti-fossil fuel environment in Washington. Revenue from today’s high oil prices that could be invested in future production is instead being returned to shareholders.

 

[Lesh]

In 2018, the U.S. was the world’s largest oil producer and a net exporter of oil and gas,

Having shrunken our oil and gas industry,

We produce MORE oil and gas now than we did in 2018

But you're right. Oil companies are reluctant to invest in producing more since they are already making record profits

 

[DigitalDrifter]

We produce MORE oil and gas now than we did in 2018

But you're right. Oil companies are reluctant to invest in producing more since they are already making record profits

And as long as the left around the world continues this constant chant to kill fossil fuels, oil companies will be encouraged to grow their profits as high as they can knowing they have a finite time to operate.

 

[kyzr]

nope

Corporate profit motive

We have 18m bpd of refinery capacity, and are producing 11.5m bpd of oil. Refining capacity is not a problem.

Refinery closures decreased U.S. refinery capacity during 2020

www.eia.gov

At the beginning of 2021, 129 refineries were either operating or idle in the United States (excluding U.S. territories), down from 135 operable refineries listed at the beginning of 2020. The additional refinery closures in the 2021 Refinery Capacity Report largely reflect the impact of responses to COVID-19 on the U.S. refining sector.

 

[kyzr]

We produce MORE oil and gas now than we did in 2018
But you're right. Oil companies are reluctant to invest in producing more since they are already making record profits

Technically correct, but the US hit 13m bpd in 2020, and now we're stuck at 11.5m bpd.

 

[Lesh]

Technically correct, but the US hit 13m bpd in 2020, and now we're stuck at 11.5m bpd.

View attachment 657138

And why is that?

Because the oil industry has decided that they can make a lot of money with less investment.

Simple as that

 

[Delldude]

What shut those refineries down, Joe's over-regulation?

Actually Obama's.....they always thought it wasn't cool we had cheap gas while the Euro's wre paying $5 +, then.