🧑‍🤝‍🧑 / 🏡 As a side note (RE: The Chinese balloon.)

[ElephantStomp]

Come on gas companies, spend billions drilling for new gushers when we only need you for 10 more years! Come on oil companies, why not invest in all those new leases, the administration says. After President Biden took the hand of the elementary school girl and said, “I want you to look at my eyes. I guarantee you. I guarantee you. We’re going to end fossil fuel”.

In intimate moment, Biden vows to 'end fossil fuel'

Joe Biden is looking voters in the eye and promising to "end fossil fuel." The leading Democratic presidential candidate made the comment Friday after a New Hampshire environmental activist challenged him for accepting donations from the co-founder of liquified natural gas firm.

apnews.com

From 2019……

 

[PurlJam]

I agree with you & the Republican Party is about energy independence and all that, but the previous President went and begged OPEC

Dont care what the previous President did. We should never beg any other country for shit when it comes to energy....no matter who's the POTUS.

 

[Rsedge72]

This admin has allowed more leases in the first two years than the previous admin, so to say this admin is nixing and cutting production is just simply wrong. A simple google search shows that

No it’s not wrong, the leases they allow are not really feasible. Do your homework man. Now to be honest, my son (along with most all in the industry) are making more money now than they did under trump. There profits are through the roof right now.

 

[It Takes Eleven]

This admin has allowed more leases in the first two years than the previous admin, so to say this admin is nixing and cutting production is just simply wrong. A simple google search shows that

That is absolutely incorrect.

 

[rick4bama]

Chinese have a new spy balloon

 

[Rolltide24]

From 2019……

Exactly. He’s been saying it for several years. That’s my point…

 

[It Takes Eleven]

No it’s not wrong, the leases they allow are not really feasible. Do your homework man. Now to be honest, my son (along with most all in the industry) are making more money now than they did under trump. There profits are through the roof right now.

Scarcity and volatility, in many industries, are friends to profits. From a long-term perspective, looking at what they are doing with those profits (returning to shareholders vs. expanding) says more about management and the board's outlook.

 

[Rolltide24]

From 2019……

A little more info and some facts from a simple Google search. Article from June, 2022 when he’d been in office 17 months. Aligns to his promise that he’ll get us off of fossil fuels. Gives oil
companies the warm and fuzzies to go spend billions drilling for new oil, or dump a pile of cash into R&D for something the leader of the free world says he’s going to eliminate demand for. They have to watch out for their shareholders.

To date, Biden is the only president in modern history not to have held a single oil and gas lease sale on federal lands despite clear direction from Congress to do so quarterly.

While the Department of Interior is being forced by court order to hold a lease sale this quarter, it increased fees by 50% and decreased the amount of available acreage for drilling by 80%—even as it cuts fees and red tape for renewable “green” energy production.

Timelines to approve permits to drill on already leased land ballooned from the Trump administration’s best average of 108 days in 2019 to 182 days under the Biden administration, and scores of permits are now being held up by litigation initiated by extreme environmental groups allied with the White House.

Offshore, the Biden administration has not completed a single lease sale. In contrast, Trump held eight in his single term and former President Barack Obama held 29 lease sales in his two terms.

Biden’s Radical, Anti-Fossil Fuel Energy Policy Costs Americans Dearly

There’s a popular genre of fiction books and TV programs that explore what the world might have been like if history had taken a different twist. What if Julius Caesar never crossed the Rubicon? What if Napoleon won at Waterloo? What if the Allies lost the Great War? And what might gasoline...

www.heritage.org

One of many articles and sources that reported on this…

 

[TerryP]

He paused new leases, oil companies already have a backlog of more than 9,000 approved permits that they are not yet using.

With how many APD's approved? Less than half. The American Petroleum Institute have called this line a red herring, a smoke screen by the administration, trying to shade policies that have "hamstrung the industry." (sic.)

If the US was a net exporter, but now has to beg OPEC for imports, common sense tells everyone the supply in the states is not what it used to be.

What I find crazy is the defense of the POTUS using this line when he's promised to eliminate fossil fuels but at the same time he's pointing a finger telling companies to invest in something he's killing. It makes no sense.

 

[TerryP]

I liked this description on MTG:

She's your drunk wife at a Christmas dinner, with your boss, yelling, "he Dwserves a raisw, hw w.irKs hArd for tgid cp,pan.y"

 

[ElephantStomp]

No it’s not wrong, the leases they allow are not really feasible. Do your homework man. Now to be honest, my son (along with most all in the industry) are making more money now than they did under trump. There profits are through the roof right now.

Their profits are through the roof, but Biden is killing production

 

[ElephantStomp]

That is absolutely incorrect.

Then I’d suggest taking that up with Google

 

[ElephantStomp]

With how many APD's approved? Less than half. The American Petroleum Institute have called this line a red herring, a smoke screen by the administration, trying to shade policies that have "hamstrung the industry." (sic.)

If the US was a net exporter, but now has to beg OPEC for imports, common sense tells everyone the supply in the states is not what it used to be.

What I find crazy is the defense of the POTUS using this line when he's promised to eliminate fossil fuels but at the same time he's pointing a finger telling companies to invest in something he's killing. It makes no sense.

Trump is the only one that went to beg OPEC….so…supply was bad under him?

I don’t have to defend the President about this, O&G companies made record profits…they don’t have to invest, but if they don’t then they’re the reason for prices the way they are.

The American Petroleum Institute thinks what a democratic President is doing is a “smoke screen” I’m shocked they think this I tell you just shocked.

As for “killing” the industry me, you, and everybody damn well knows he isn’t going to kill it, but there should be moves for less fossil fuels at some point

 

[ElephantStomp]

That is absolutely incorrect.

Biden granted more oil and gas drilling permits than Trump in his first 2 years in office

Data from the Bureau of Land Management shows that President Biden approved more oil and gas drilling permits in his first two years in office than former President Donald Trump.

news.yahoo.com

 

[TerryP]

Trump is the only one that went to beg OPEC….so…supply was bad under him?

I don’t have to defend the President about this, O&G companies made record profits…they don’t have to invest, but if they don’t then they’re the reason for prices the way they are.

The American Petroleum Institute thinks what a democratic President is doing is a “smoke screen” I’m shocked they think this I tell you just shocked.

As for “killing” the industry me, you, and everybody damn well knows he isn’t going to kill it, but there should be moves for less fossil fuels at some point

Biden was begging OPEC not to cut oil production in the last year...to the point of asking them to delay a decision until after the midterms. (That's got the interest of the American people in mind...don't mess with gas prices until the mid terms are over. )

He already killed the Keystone pipeline. He's already killed new lease sales. I didn't think I had to explain supply and demand, but I'm thinking the futures market may be in order.

Less supply equals higher prices. Biden and his policies have us where we are today. No. You don't have to defend him but I see you're more than willing to ignite a smoke screen. Like every other market in every facet of business, less supply means higher prices and more profit.

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On a lighter note...

His comment about "we won't be off of fossil fuels for 10 years" had me laughing. I agree with him with an addendum...or 20 years, or 30.

"Here's something we have an abundance of, as a country, but we need to move away from using this country's natural resources." That should elicit a laugh or two...

 

[TerryP]

Biden granted more oil and gas drilling permits than Trump in his first 2 years in office

Data from the Bureau of Land Management shows that President Biden approved more oil and gas drilling permits in his first two years in office than former President Donald Trump.

news.yahoo.com

Which, as mentioned earlier ... the permits, over half of them, have yet to be approved. That's why I added this to the context.

With how many APD's approved? Less than half.

 

[Rsedge72]

Their profits are through the roof, but Biden is killing production

Scarcity = $$$$$

 

[ElephantStomp]

Biden was begging OPEC not to cut oil production in the last year...to the point of asking them to delay a decision until after the midterms. (That's got the interest of the American people in mind...don't mess with gas prices until the mid terms are over. )

He already killed the Keystone pipeline. He's already killed new lease sales. I didn't think I had to explain supply and demand, but I'm thinking the futures market may be in order.

Less supply equals higher prices. Biden and his policies have us where we are today. No. You don't have to defend him but I see you're more than willing to ignite a smoke screen. Like every other market in every facet of business, less supply means higher prices and more profit.

---

---

On a lighter note...

His comment about "we won't be off of fossil fuels for 10 years" had me laughing. I agree with him with an addendum...or 20 years, or 30.

"Here's something we have an abundance of, as a country, but we need to move away from using this country's natural resources." That should elicit a laugh or two...

So Biden bad Repubs good. . Again I’ll revert back to my comment the other day “no matter what he does or says the right will say bullshit”….I’ll never look to a party that elected Cruella Greene, Gaetz, or Boebert (she might be the dumbest person to ever get elected) for intelligence.

“We have an abundance of natural resources”, so let’s destroy the planet and drill baby drill and not even remotely maybe just maybe look into other energy resources….great idea

 

[ElephantStomp]

Scarcity = $$$$$

LOL that’s actually funny

 

[Rsedge72]

So Biden bad Repubs good. . Again I’ll revert back to my comment the other day “no matter what he does or says the right will say bullshit”….I’ll never look to a party that elected Cruella Greene, Gaetz, or Boebert (she might be the dumbest person to ever get elected) for intelligence.

“We have an abundance of natural resources”, so let’s destroy the planet and drill baby drill and not even remotely maybe just maybe look into other energy resources….great idea

I submit Maxine waters