Energy independence

I can't give you an article, but my buddy who was an executive in the business for 40 years has told me about it.  You can deny it, but it happens. It happened for years under Obama.

You tell me why there is limited drilling during high oil prices.  Just chance?

Because those two things go hand in hand.   I would think you know that since you always flaunt your industry credentials on this board.  I'm beginning to wonder.

More drilling means lower oil prices.   I want that.   You want that.  Why would a shareholder of Chevron want that?   The only thing worse than having oil prices plummet because of excess supply is having them plummet because of an oil-induced recession.   The latter is the only thing that will motivate them to drill more.

Oh -  and I didnt have to ask a friend in the oil industry to confirm that premise.  I linked to the oil excutives and analysts themselves who sated as much.  

So your old retired buddy, who sits in a bar and grouses all day to amuse himself, says something about government regulation of drilling permits that is simply his opinion and you can't verify to be factual?

Don't you realize that big corporations that rely on extractive industries griping about government regulation and blaming it for all ills is as old as time? Thank God those businesses are regulated. If not, we'd be a virtually uninhabitable, polluted wasteland.

And to answer your question, surely you at least dimly understand that drilling is done because of a lack of supply and planned months, if not years in advance? You yourself have said that the fossil fuel companies can't immediately ramp up production. The current high oil prices are very recent. Any drilling being done now was planned for in the middle of last year.

Duh.

 The reality of the Drilling Permit bullshit  ---https://fb.watch/bGHRllYqB9/

I'm not an expect on oil and gas, but I do know more than most.

Why would Chevron drill which would increase supply and contribute to lower oil and gas prices?  With that frame of mind, why don't you just ask why any company ever drills?  Why does any company ever increase production.  They do so to maintain market share, just as any company does when they expand production.

It's interesting that you bring up Chevron.  I have a Chevron pension (and an Ashland Oil pension), and I want them to drill, drill, drill.

Here's an oil executive (beginning at the 1:40 mark) telling Biden to get out of the way.  https://www.youtube.com/watch?v=cuNbyCu5GQ4

I was watching Fox yesterday, and they had a Colorado based oil man on TV.  He flat out came out and said that Biden and friends are obstructing drilling.  He also addressed the administration's comments about drilling on already available leases, claiming that this argument is a farce.  I'll continue to search to find a copy of this video.

Biden and friends have been slow walking drilling projects.  It's a fact.  They have not changed the procedures, but nitpicking on every proposed drilling project.  They delay answers on proposals.  They have been obstructing.

I'm not an expect on oil and gas, but I do know more than most.

Why would Chevron drill which would increase supply and contribute to lower oil and gas prices?  With that frame of mind, why don't you just ask why any company ever drills?  Why does any company ever increase production.  They do so to maintain market share, just as any company does when they expand production.

It's interesting that you bring up Chevron.  I have a Chevron pension (and an Ashland Oil pension), and I want them to drill, drill, drill.

Here's an oil executive (beginning at the 1:40 mark) telling Biden to get out of the way.  https://www.youtube.com/watch?v=cuNbyCu5GQ4

I was watching Fox yesterday, and they had a Colorado based oil man on TV.  He flat out came out and said that Biden and friends are obstructing drilling.  He also addressed the administration's comments about drilling on already available leases, claiming that this argument is a farce.  I'll continue to search to find a copy of this video.

Biden and friends have been slow walking drilling projects.  It's a fact.  They have not changed the procedures, but instead nitpicking on every proposed drilling project.  They delay answers on proposals and they obstruct at every turn.

Complete bunk.    And again you're referencing incidents that somehow you cant point to.   

OPEC isnt drilling more either.   And for the same reasons I stated and linked to.    Are you going to tell me Joe Biden and his evil team of regulators are stopping them from drilling more too?

Fracking opened up drilling like never before 10 years before COVID.   the oil companies drilled themselves into bankruptcy as the over abundance of supply sank oil prices to $20/barrel.    You seem to think they're itching to go back to that money losing business model instead of the over-the-top profits they're raking in now.

The ceo's and shareholders dont agree with you.

My buddy, was as recently as 2021 was involved in meetings with government officials discussing an ultra-deepwater Gulf of Mexico project.  He has been involved in many such meetings the past 20 years as was a high level engineering project manager.

Pete is not a bar buddy (although we drink like fish when together), but a friend and room mate from college.  We stood up in each others weddings.  While he lives in Houston and I live in Indy, we do about four weekend trips together each year.......Vegas, for example.  I talk with Pete about 5 times a week.  He's my best friend, and I've heard from him how things change in his business under different administrations.  He complained the most during the Obama years about regulators strangling oil and gas development projects.

If you watch the video that David posted yesterday, the South Dakota governor addresses this very issue, because he knows what's happening.  It's not the regulations that's the problem, but instead a policy to stall and stop drilling.

There are about 4500 unfinished wells in the US as we speak, and these could be completed quickly, if only Biden and friends would get the fuck out of the way.  South Dakota's governor agrees with me.

$20 barrell was in 2020 during the pandemic recession. Prior to that it was in 2002, long before fracking. 

NYS is an example of govt interference as it has banned fracking, even though fracking is allowed in nearby PA. 

Biden's puppetmasters made it clear in 2020 that they were against fossil fuels & were intent on ending it & depending on the instant magic of solar/wind. So nobody should be suprised. 

Here we go again - You keep trying to turn the discussion to new wells and new projects that dont exist yet.     

The gulf well and new land in SOuth Dakota have nothing to do with the undercapacity they are drilling at their existing installations that they are purposfully drilling less from.   

So lets conclude it this way.  I posted articles from executives and analysts that explain why they aren't drilling from their existing wells.....and you had a conversation with a buddy.    Our readers can decide for themselves which is a more credible source.