Read this:
Biden’s Republican critics are wrong about U.S. gas production, experts say
Some Republicans, attacking President *****, say that increasing U.S. production of fossil fuels would liberate Europe from its dependence on Russian gas. But experts say ***** hasn’t scaled back energy production and that Europe’s path to energy independence lies away from fossil fuels.www.yahoo.com
It’s information. Believe what you want. But it is true that oil companies have always had at least a decades worth of undrilled permits on federal lands. The Department of Interior that tracks oil/gas leases shows that there are currently leases issued on 26 million acres of federal department of Interior lands. This doesn’t even account for permits on US Forest Service lands. A short term moratorium has zero effect on oil and gas production. Also consider that most oil and gas production occurs on state and private lands.
The statistics show that you are wrong. Oil and gas declined in 2008 due to the recession, then steadily climbed until Covid reduced demand in 2020. It is climbing this year, but not quite at the level that was happening immediately pre-Covid. There is too much emphasis on what individual presidents can do with oil production. This is more controlled by supply and demand market factors than government. Consider that 80% of oil and gas is produced on state and private lands, not federal. And it has always been this way.
It’s information. Believe what you want. But it is true that oil companies have always had at least a decades worth of undrilled permits on federal lands. The Department of Interior that tracks oil/gas leases shows that there are currently leases issued on 26 million acres of federal department of Interior lands. This doesn’t even account for permits on US Forest Service lands. A short term moratorium has zero effect on oil and gas production. Also consider that most oil and gas production occurs on state and private lands.
Few power companies are just relying on renewables; but they are shutting down or converting old obsolete coal plants to natural gas. Most power companies are pretty smart (except ERCOT in Texas) about their electric generation strategies and no doubt know a little bit more than you and I about this.
“Climbing” is a bit too mild of a term.
Agree about the prices. My comment about climbing was related to production. We are getting screwed because US oil is exported to the highest bidder and subject to worldwide pricing. It was better before we exported oil and prices were more driven by US market factors. Thank the 2018 Congress for authorization of exports.
