and joe stolen , takes another one in the.........HA ha!!!
Posted on 09/05/2021 8:18:00 AM PDT by Libloather
Aug 31 (Reuters) - The Biden administration announced plans on Tuesday to open millions of acres for oil and gas exploration as the White House sought to comply with a court order requiring it to resume lease auctions.
The move, which includes some 80 million acres of water in the Gulf of Mexico along with potentially hundreds of thousands more onshore, represents a setback for Democratic President Joe Biden's plans to fight climate change, which included a campaign vow to end new federal oil and gas leasing.
Biden paused drilling auctions after taking office in January pending an analysis of their impacts on the environment and value to taxpayers. That review is ongoing, officials have said.
In June, however, a federal judge in Louisiana ordered a resumption of auctions, saying the government was required by law to offer acreage to the oil and gas industry.
The U.S. Interior Department on Tuesday said it would offer almost all available, unleased blocks in a more than 90 million acre area in the Gulf of Mexico. The sale could ultimately result in production of up to 1.1 billion barrels of crude oil and 4.4 trillion cubic feet of natural gas, according to a sale document posted online.
The sale is roughly the same size as offshore sales held by the Trump administration, which downplayed the threats from global warming and sought to maximize domestic fossil fuel production.
(Excerpt) Read more at reuters.com ...
Drill, Biden drill!
Is Biden gonna hore Rick Perry?
If not, Joe will eff it up royally.
When you kill a previous Presidential EO, you have to have a “substantial” reason.
Yay! Maybe now the price of gas won’t shoot up 36 cents a gallon in a 26 hour period like it did here last Tuesday...
“They were ordered to by the Federal Courts. They not doing anything ,they are being forced to do it.”
Thanks for pointing that out.
At first I thought a bit of sanity had infected the handlers of the Sock Puppet.
Biden feeling heat from all directions confused goes to basement with pudding up.
Thank you for that. I've never understood why gasoline, diesel, natural gas fluctuate so much. Like most laymen, I always figure the cost was set by how much is readily available on the world market. What is the reasoning behind futures contracts and who controls it?
Remember how George H. W. Bush said “Read my lips, no new taxes”? Remember how the demo congress forced him to raise taxes, and then beat him up about it in the next election?
If the Repubs had a spine, they would do the same to Biden. “You said X, you did Y”. They could probably fill an entire 30 second spot with just the lies.
Deep State’s energy policy isn’t any more about the planet’s health than its CoupFlu policy is about public health.
I have one word for enviroweenies still drinking Deep State’s koolaid: SUCKERS!!!!
It’s Democrat President Joe Biden’ not Democratic President Joe Biden.
Bwa! Ha! Ha!
File under, "only Nixon could go to China."
Drill. This is not a drill.
I say agan this not a drill...
Wait—Sorry
It is a drill!
“What is the reasoning behind futures contracts and who controls it?”
You’re welcome. The futures market is used by sellers and buyers of oil to set futures prices paid for many products. It isn’t just oil, the futures market sets futures prices for gold, silver, corn, hogs, cattle, coffee, rubber, you name it. Traders try to guess ahead about supply/demand to make money. People within the various industries use futures to hedge against possible price shocks from events like hurricanes for example. Is a rancher worried that the price of cattle will go down before his have grown enough to sell? The rancher buys the right to sell at a fixed price in the future. It’s an insurance play, give up some possible upside to insure against possible large downward movement in the price of your preferred commodity.
The same thing can be done with the S+P 500 and individual stocks as well. Search for “covered calls” to see how it works to lower risk in stocks.
People think prices jump around a lot, but without futures contracts prices would jump around much more violently.
“Oil futures contracts are simple in theory. They continue the time-honored practice of certain participants in the market selling risk to others who gladly buy it in the hopes of making money. To wit, buyers and sellers establish a price that oil (or soybeans, or gold) will trade at not today, but on some coming date.”
.
Gosh, hope I'm not being bitten by Biteme banal bullcrap. No, it was not difficult to come up with all those b words. I put on my "Make America Grovel Again" cap and out they flowed.
You got it right!
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