$5 a gallon

This thread is about the high price of gas thanks to Senile Biden and the Libtards war on fossil fuel. Please stay on topic Originally Posted by berryberry

Why do you only correct the posters who disagree with you?

The Biden admin has reduced govt oil leasing to a trickle, an unprecedented slowdown, a ⁦@WSJ⁩ analysis has found

Once a go-to asset for presidents eager to boost US energy supplies, many now see the federal oil & gas program as a climate liability

WASHINGTON—The Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II, according to a Wall Street Journal analysis.

President Biden’s Interior Department leased 126,228 acres for drilling through Aug. 20, his first 19 months in office, the analysis found. No other president since Richard Nixon in 1969-70 leased out fewer than 4.4 million acres at this stage in his first term.

Harry Truman was the last president to lease out fewer acres—65,658—in 1945-46, when offshore drilling was just beginning and the federal government didn’t yet control the deep-water leases that have made up the largest part of the federal oil-and-gas program in modern times.


https://www.wsj.com/articles/federal...en-11662230816

That's because oil companies are not gonna lease more drilling rights if the value of oil goes down. The Administration doesn't set oil prices, it's a global commodity. If the value of a commodity goes down, there is a lesser interest in producing more of it. Economics 101.

The dead horse beating is absurd here.

... What do you think Trump will do about drilling
when He is back on come 2025?

#### Salty

That's because oil companies are not gonna lease more drilling rights if the value of oil goes down. The Administration doesn't set oil prices, it's a global commodity. If the value of a commodity goes down, there is a lesser interest in producing more of it. Economics 101.

The dead horse beating is absurd here. Originally Posted by eyecu2

Why do you continue to lie?

Look at the numbers and chart in the article over the last 60 years. Under every economic condition and no matter the price of oil, oil companies leased drilling rights at very high levels.

Senile Biden - 126,228 acres

The next 2 lowest :

Lyndon Johnson 1,790,000 acres
Richard Nixon 1,870,000 acres

And shoot - compare it to these libtards in the same time frame

Clinton - 9,690,000 acres
Obama - 7,250,000 acres

The disparity is huge. The numbers are there for all to see over a 60+ year period.

So again why do you continue to lie?

Why do you continue to defend this corrupt fascist Senile Biden regime?

Something must’ve shook the market. Gas jumped .30 overnight where I get it, which is the cheapest place around. It’s strange, not sure if it’s a volume thing or what, but they (a Sunoco) were at 3.39 for a few weeks with the other places (sheetz and getgo), just blocks away, we’re 3.99.

Why do you continue to lie?

Look at the numbers and chart in the article over the last 60 years. Under every economic condition and no matter the price of oil, oil companies leased drilling rights at very high levels.

Senile Biden - 126,228 acres

The next 2 lowest :

Lyndon Johnson 1,790,000 acres
Richard Nixon 1,870,000 acres

And shoot - compare it to these libtards in the same time frame

Clinton - 9,690,000 acres
Obama - 7,250,000 acres

The disparity is huge. The numbers are there for all to see over a 60+ year period.

So again why do you continue to lie?

Why do you continue to defend this corrupt fascist Senile Biden regime? Originally Posted by berryberry

You fail to mention that over 40 percent of oil drillers went out of business prior to the pandemic when there was a sharp contraction in oil and gas prices. And that also meant that many oil wells were capped off or shut in. Oil drillers and producers are MUCH more fiscally responsible now as they are required to be by shareholders. While there is a small amount of blame to limited leases on public land, there are still almost 9000 that are not being used.

Why?

Well it takes both time and money to produce a well, Marcellus and Utica wells will cost 8-10 million minimum and wells in Texas have shown less good production in recent years. Also some states don't allow it like NY. The fact is many workers left the industry and the snap back of production is not going to occur as quickly during uncertain pricing of oil. Most economists think 100 brrl oil is about the norm but we've seen it all over the place. Most oil companies are likely going to sit on the sidelines till things stabilize a little further, not to mention, the biggest cost of producing a well these days is trucking water. How that relates to this discussion is that if you don't have a well that's already produced and can pull the water from that Old Well to put in a new well, now you have to go out and find new sources of water and we're talking a shit ton of water. You asserting that I am lying is bunch of bullshit, but I guess it fits your narrative of bashing anybody other than repturds.

... Biden gonna start the Keystone Pipeline any time soon?
Time to get back to finishing it.

#### Salty

You fail to mention that over 40 percent of oil drillers went out of business prior to the pandemic when there was a sharp contraction in oil and gas prices. And that also meant that many oil wells were capped off or shut in. Oil drillers and producers are MUCH more fiscally responsible now as they are required to be by shareholders. While there is a small amount of blame to limited leases on public land, there are still almost 9000 that are not being used. Originally Posted by eyecu2

Again, why do you lie about this? Look at the numbers and chart in the article over the last 60 years. The oil patch has ALWAYS had boom / bust cycles. There have always been times when some companies went out of business and others acquired weaker competitors. Under every economic condition oil companies leased drilling rights at very high levels.

Let me repeat this

Senile Biden - 126,228 acres

That is around 93% LOWER than the next 2 lowest:

Lyndon Johnson 1,790,000 acres
Richard Nixon 1,870,000 acres

And that is around 98% to 99% LOWER than the next 2 lowest:

Clinton - 9,690,000 acres
Obama - 7,250,000 acres

NO ONE can dispute that he disparity is huge. What Senile Biden has done with leasing oil and gas rights is dangerous and borderline criminal.

So again, why do you lie and make excuses for this

With Senile Biden's war on US Energy as evidenced by his refusing to issue new leases, OPEC gives Senile Biden the big Fuck You

BREAKING: 52 days after Senile Biden traveled to Saudi Arabia, the kingdom has led OPEC+ into cutting oil production: quotas will be reduced by 100,000 barrels per day and further reductions remain on the table.

... Surely makes you wonder just who's idea THAT was.
Don't it?

### Salty

B dubs didn't take any economic classes but seems to believe the "bigly educated" talking script of right wing media. Hopefully they give a T shirt out as a consolation prize for chirping false claims of how the economy and gas commodity prices work And what drives them. (They Just need to know your size.)


Or perhaps you can predict the actual value of oil per barrel or gas costs per gallon in the next 60 days, since you're parroting of these detailed information of land leases, relate to the cost of a commodity?

B dubs didn't take any economic classes but seems to believe the "bigly educated" talking script of right wing media. Hopefully they give a T shirt out as a consolation prize for chirping false claims of how the economy and gas commodity prices work And what drives them. (They Just need to know your size.)


Or perhaps you can predict the actual value of oil per barrel or gas costs per gallon in the next 60 days, since you're parroting of these detailed information of land leases, relate to the cost of a commodity? Originally Posted by eyecu2

So in Eyecu2's world, stating ACTUAL FACTS about leasing activity of oil and gas leases over the past 60 years is "false claims" and "some right wing media script"

Unreal.

it is laughable to watch libtards twist themselves in knots trying to defend this corrupt administration. It is laughable to watch them lie when they lose arguments and then try to change the subject.

The FACT remains that the Senile Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II, according to a Wall Street Journal analysis.

President Biden’s Interior Department leased 126,228 acres for drilling through Aug. 20, his first 19 months in office, the analysis found. No other president since Richard Nixon in 1969-70 leased out fewer than 4.4 million acres at this stage in his first term.


And I did not need all the economic, business and finance classes I took to tell me that this will have a devastating impact on the US economy in the future as well as a negative impact on the price of energy in the long term

So while you supposedly took " all the economics and business classes"....you still come up short. Your blaming a administration because private sector money isn't being used to produce wells is ludicrous. The government doesn't dictate where private money gets invested And there is a glut of leases still un-used. But...Falling gas prices could land under $3 in some states

https://www.axios.com/2022/09/05/gas...edium=news_tab

How can that be BX2? How in the world of your "expert" knowledge be any way that gas and oil is going down without there being an increase in supply directly... You know, that whole energy independent under Trump ruse?
( We've always been an importer of oil for many reasons but seems Repubes only focus on a net number vs.the reason that we import oil.

It's just a lie to people that we need more production from domestic oil when the value of that oil has been consistently going down.

Tell us all how you account for that and please use some economics terminology that you gathered from all those classes! Lol

So while you supposedly took " all the economics and business classes"....you still come up short. Your blaming a administration because private sector money isn't being used to produce wells is ludicrous. The government doesn't dictate where private money gets invested Originally Posted by eyecu2

Show me EXACTLY where I said this. Come on I will wait.

Because all I posted was an article pointing out the fact that the Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II. I didn't talk about drilling wells or the price of oil - I posted FACTS about new leases being issued.

An article / facts that you dismissed saying

That's because oil companies are not gonna lease more drilling rights if the value of oil goes down. Originally Posted by eyecu2

which you well know is an outright lie

I proved that in several subsequent posts but I guess since you are having trouble grasping that, maybe this graph will help



This is NOT because the oil companies don't want to lease more drilling rights like you falsely claim. It is because the Senile Biden admin has refused to lease hardly any. Throughout history, oil companies leased new drilling rights no matter the economy, no matter if the oil patch was in a boom cycle or bust cycle. Nope - the only thing that changed here is this corrupt Senile Biden regime has refused to lease new drilling rights.

Why do you continue to lie about this?