Bidenomics at the Gas Pump

Okee dokee, I'm not interested in doing 22 pages, thanks for the heads up. It's crazy how MAGA has no faith in American capitalism and free enterprise, companies are in business to make money and they'll find the best way to make it. MAGA seems to believe that capitalism doesn't work, as Trump would say, sad.

  Enjoy this -  WHY BIDEN’S OIL DRILLING PERMITS SURGE IS NOT WHAT IT SEEMS --https://www.energyindepth.org/why-bidens-oil-drilling-permits-surge-is-not-what-it-seems/

Perfect info David, thank you, tom was asking what happens when the current wells run dry, this article shows it's an ongoing process. I would assume a company like Exxon and others have factored all of this into their long-term business strategy. I think this shows tom's argument might not be accurate. Thanks David!

Quote from the article, "The Biden administration’s pace of oil and gas leasing isn’t just slow – it’s the slowest in half a century."

"While the decline in lease sales has not yet caused acute domestic supply issues, it will inevitably affect future production and supply, potentially exacerbating shortages and price surges. "

Seems like this quote would indicate that it's not affecting current pricing?

By the way, since you like to question my sources, this is from the EnergyInDepth, A project of the Independent Petroleum Association of America

    Your question of "not affecting current pricing" is the reaction that those who can't see the forest for the trees have. The quote you quote from my post illustrates what I have been saying.about the brain dead Biden's administration handling of America's gas and oil.. You have gotten  comfortable with the current situation while ignoring the effect that the current actions will have in the future and the fact that someone else down the line will end up paying for the blind neglegance of those who play the fiddle while America burns.

More fun facts

The Biden administration’s pace of oil and gas leasing isn’t just slow – it’s the slowest in half a century. A Wall Street Journal analysis of federal acres leased for oil and gas production over the past 50 years revealed that the Biden administration leased a historic low of 0.13 million acres during its first 19 months compared to the 4.4 million acres auctioned for lease during the first year and a half of the Trump presidency.

While the decline in lease sales has not yet caused acute domestic supply issues, it will inevitably affect future production and supply, potentially exacerbating shortages and price surges. This trend not only threatens energy security but also blocks future revenue to federal, state, and local treasuries.  E&E News

Tom plays his favorite game of cherry picking a date range and ignoring the dates that prove he's full of it.

When Biden came into office there were 9000 empty wells on Federal Lands that were being left unattended by the oil companies.   He told them to use those before he would start signing new leases.   You can see Tom's BS narrative about that fact in the aforementioned thread I linked to.

Biden just approved one of the biggest drilling projects in recent history. 

https://www.politifact.com/article/2023/apr/13/joe-biden-has-approved-more-oil-drilling-why-and-d/

And that kinda makes the whole "Biden wont let us drill" story a bunch of sour grapes by the insurrectionist sympathizers.

But its all moot anyway.   The whole "Federal Lands" argument is in of itself a bunch of BS.    Less than 10% of the UNited States onshore  oil drilling takes place on Federal Lands....so the idea that its front and center of our production is a fairy tale.   Thats why it only is told on the same media network that just got sued 3/4 billion dollars for lying.

But I guess Republicans need something beyond "Joe Biden is old" to run on.    

The biden gang likes to play both ends & hopes nobody notices; like he did the other day with Israel.  He makes a speech that he supports Israel & the next day he cuts off the Congressional approved weapons.

See earlier post how he cuts drilling.  He has approved less acres for drilling than any other president.  He has blocked offshore drilling

https://www.msn.com/en-us/money/markets/biden-admin-blocks-off-millions-of-acres-from-oil-gas-leasing-after-settling-with-eco-groups/ar-AA1fJtbq

https://www.cnn.com/2024/04/19/climate/alaska-drilling-ban-biden-climate/index.html

On his first day in office Wednesday, Biden signed over 90 executive orders that underscored his different approach — rejoining the Paris Climate Accord, revoking approval of the Keystone XL oil pipeline from Canada and telling agencies to immediately review dozens of Trump-era rules on science, the environment and public health.

When Biden came into office there were 9000 empty wells

pj is wrong as usual.  These were not wells but permits & having 9,000 permits is not unusual there are reasons why they aren't drilling.

They have 9,000 permits to drill now,” Biden said of the oil and gas industry. “They could be drilling right now, yesterday, last week,

The above statement shows how clueless biden & liberals are.  You just don't put a stick in the ground and oil pops out. Here is what is needed to be done.

 Companies have to contract rigs to drill the wells, and build a sufficient inventory of permits before rigs are contracted.  Environmental studies have to be done and then there are the lawsuits. and there might not be enough oil to profitably drill a spokesperson for the Independent Petroleum Association of America, a trade group that represents oil and natural gas producers. "Producers also have to put a drilling plan together, secure rights of way and work with state and private landowners," Pett said

Environmental studies have to be done and environmental lawsuits to fight & in the end there might not be enough oil to proifitably drill.

And then there was this quote.

Biden denied the donor’s association to the fossil fuel industry before calling the young woman “kiddo” and taking her hand. He said, “I want you to look at my eyes. I guarantee you. I guarantee you. We’re going to end fossil fuel.”

I found this article from Forbes very interesting.  https://www.forbes.com/sites/bryceerickson1/2024/04/01/oil--gas-roadblocks-prices-production-and-people-holding-sway/?sh=2ed3fb0725e4

But I guess Republicans need something beyond "Joe Biden is old" to run on.

Here are his approval numbers on the key issues from RCP.  Age isn't a factor on this

Economy -39%

Foreign policy -35%

Immigration -33%

Inflation -34%

Crime -39%

Israel/Palestine War -32%

Ukraine -40%