Posted on 01/11/2024 9:56:15 AM PST by dennisw
Biden administration is 'sowing the seeds for the next energy crisis' by blocking oil and gas leases despite wars in Mideast and Europe threatening energy flows, top US trade group warns
White House under pressure to halt oil and gas leases over global warming fears
The Biden administration is 'sowing the seeds for the next energy crisis' by restricting America's oil and gas sector even as wars in the Middle East and Europe threaten supply shocks, the head of a top trade group has warned.
Mike Sommers, president of the American Petroleum Institute (API), issued a stark warning that the White House was dragging its feet on allowing energy firms to drill on federal lands, threatening the economy and jobs.
The US oil and gas industry is booming, but the Biden administration is under pressure from climate activists to block oil and gas projects that scientists say raise global temperatures and cause more storms, floods, droughts, and wildfires.
'Washington is on the cusp of spoiling the American energy advantage, undermining it with short-sighted policies and hostility toward US oil and natural gas,' Sommers told the API's annual meeting in Washington, DC, on Wednesday.
US oil production broke records last year, and it's on track to surge to a new high of 13.21 million barrels per day this year, says a forecast from the government's Energy Information Administration.
Still, Sommers warns, those were gains set in place by previous administrations that could be undone by the Biden administration's restrictions on hydrocarbons and the transition to wind, solar and other renewables.
(Excerpt) Read more at dailymail.co.uk ...
People need to wake up and start seeing what this democrat administration is doing to our country!!!!!!!!!!
Propaganda.
Most leases are not drilled because 3D seismic has made clear there is nothing to be found there.
The world needs to wrap its mind around some truths:
1) It doesn’t matter if oil is biotic or abiotic. It only exists in certain places over 100 yrs of study have made clear. Empty wells are plugged and abandoned for a reason. If you knew it was going to refill, you would not plug it.
2) Shale happened because interest rates went to zero. Not high price or low price. Interest rates.
3) Shale oil is not the same as conventional oil. It has different % constituents of diesel and kerosene.
4) There is no law of the universe that says America will always have enough.
If there’s no usable oil to be found in those lands, then why do the Dims block drilling there?
Because the WEF told them to block it and all other possible “fossil fuel” production
You have to understand nuance.
Drillers want to drill. They get paid to drill. They would somewhat like to find oil there, but they aren’t the ones who declare it to be there. That is a different batch of people examining data and cores.
That company mildly, only mildly, wants there to be oil there. If there is oil there, they may get a contract to drill production wells (different from exploratory), but maybe not. The leaseholder likely will fund his own production wells.
Alaska is the prime example. Independents run around screaming about government impediments to drilling, but mostly they are complaining that government HAS permitted drilling — and there is known to be nothing there.
Guys here on FR don’t really know how shale oil production works.
You drill a hole where you know there is oil and up it comes, at maybe 1,500 barrels/day. That flow won’t take long to pay for the drilling expense, but that flow isn’t going to maintain. At the end of year 1, you are down to 750 barrels/day. The next year 500 bpd. Then 350. Etc. The well starts dying the first day it produces.
It does not refill. Abiotic oil doesn’t replace it. If flows until it is below production costs and then you pour concrete down the hole and plug it so no one falls in.
To make that oil field grow you move 1/2 mile away and drill another hole (these bend to horizontal at dept, be aware). That hole flows 1500 bpd on day 1, too. But it then starts dying. Just like well number 1. To get that field to grow, you have to drill frantically to overcome the sum of declines in the wells already drilled.
This worked with interest rates at 0. You borrowed the money to drill. And paid nothing for it. These horizontal wells die vertically, on the production graph. The flow gets big and then it falls sharply, vertically, on the graph.
Contrast with conventional oil like in Saudi Arabia. They have wells that have flowed 1000s of barrels/day for 50 years. Because they aren’t fracturing rock to get it to flow.
Some of us are awake & we realize what seems to be going on. However, the average person has little to say about it. Those Republicans ( and moderate Democrats) in the House & Senate are the ones who need to wake up to what is being done.
Because they the show is being run by dimwits and they hate anything oil unless they are getting money from oil. ANWAR is a big area that Trump had finally got opened up but Biden quickly got it shut back down. That is on Federal Land I believe. Heck I think most of Alaska is Federal Land
Democrats are totally incompetent at government they think it’s a dictatorship when they run it
Just wait until the local gas stations close and start disappearing, due to no deliveries from the refiners; it’s coming sooner than most people will realize.
BKMRK.
Democrats are totally incompetent at government they think it’s a dictatorship when they run it.
When they run it, it IS a dictatorship !
Election results is what it will take to wake them up......
Never underestimate how Joe can f**k things up tune is never going to go away it’s a major part of history.
Obama was right
Right. Oil and Gas rely on continuous exploration and drilling. That’s how we increased production last year despite Biden, as O&G companies exercised options obtained under Trump. But when those run out, O&G production will begin to suffer. Supply can very well shrink, with bad effects on the domestic economy. It is quite likely that the Biden regime is well aware of this, which means it is intentional.
I’m glad you brought out the fact of wells rapidly diminishing in productivity right from the start. That is why, to maintain supply, constant drilling to replace fading wells is essential. A 3-4 year stoppage in drilling will surface sooner or later in unnecessary economic dislocation.
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