Posted on 08/16/2024 3:31:19 PM PDT by E. Pluribus Unum
As he campaigned for president in 2020, Joe Biden made a bold promise at a New Hampshire town hall, adding repetition for emphasis: “No more drilling on federal lands. Period. Period. Period. Period.”
The Biden administration has now outpaced the Trump administration in approving permits for drilling on public lands, and the United States is producing more oil than any country ever has. The unplanned fossil fuel boom reflects an uncomfortable truth for Biden and Vice President Kamala Harris: It is difficult for any president to stop the spigot of U.S. oil production, a leading driver of both the economy and climate change.
“If you were to show someone who came from Mars the line of U.S. oil and gas production over the last 15 years, they probably would not be able to tell whether a Republican or Democrat was in the White House,” said Jason Bordoff, founding director of the Center on Global Energy Policy at Columbia University.
Oil drilling continues to be a core issue in Donald Trump’s quest to retake the White House. Trump and his supporters argue that Biden and Harris have waged “a war on energy.” The former president has pledged to “drill, baby, drill” and to restore America’s “energy dominance.”
America's crude oil output has increased under Democratic and Republican administrations
U.S. crude oil production, in million barrels per day
(Excerpt) Read more at washingtonpost.com ...
Don’t forget-what is it in Alaska?
Wrong.
The USA has the ability to refine heavy crude more efficiently than most countries.
Go to eia.gov to see our import numbers and how many millions of barrels per day (BPD) we export of refined products and crude.
Don’t know how the graph is showing steadily increasing oil production. Not in Alaska it isn’t. The throughput of the Alaska Pipeline is down to a trickle compared to what it was in the times of Reagan..thanks to the democrats.
We were up until last year. We are an exporter of 40 gravity-ish crudes from plays like the Eagle Ford Shale because we don’t have enough refining capacity for those light crudes. Our refineries are set up for lower gravity Permian-type crudes, Venezuelan heavy, etc.
I’m sure the Alaska pipeline more than paid for itself. Caribou population really grew. It was warm at the pipeline so it made them amorous after the enviro-nuts claimed they’d be decimated.
Can the pipeline be running full force again?
2. They need the money!
So why is it $78.37/bbl? It doesn’t cost $78.37/bbl to pump it out of the ground and transport it to the refinery and refine it.
Shirley, you jest.
And to think, in 1978 we all were worried about where our next gallon of gas would come from. We were figuring how to make our own fuel. Alcohol? Wood gas? self generated hydrogen? One man even converted his pickup truck to a two cylinder diesel tractor engine. Worked well but slow!
Then we voted in Republicans and the gas began to flow again.
Interesting I heard from Roughnecks in several states. With the Arab oil embargo and the increase of oil prices, oil from OLD WELLS had to be sold at the OLD PRICE. New wells were allowed to sell at the new price. So the oil companies shut down the old wells, drilled new wells right next to them and could then get the new price for oil.
C’mon, man. No one does that. An old well is marginal by its very nature. You would never pay out your investment on the drilling of a new well.
Its what the market will bear. People are willing to buy and sell it at that price, at the moment. That’s how it works.
It costs some people (Saudis, Kuwaitis, etc.) MUCH less to produce it than it does Americans, who have to use, for the most part, much more expensive means to do so.
Because Trump is no longer in office. And, oil and gas isn't like turning on a light switch. All those exploration, drilling, and support contractors who went bankrupt when the Biden regime pulled the plug are no longer there. You can't just "turn it back on." It will take years to restart the industry to the level it was before Biden took over. My East Texas county was peppered with oil and gas contractors. They are just empty buildings and equipment yards today.
Election draws nigh and democrats think we are stupid enough not to be able to discern the difference in 2 dollar Trump gas and 4 plus dollar biteme in the ass gas.
East Texas/North Louisiana is primarily a gas basin. No one can make money at $2.25 per MCFG. Haynesville Shale drillers are stuck with long-term drilling and fracing contracts because they erroneously thought that gas would hit $4.
This author doesn’t have the right facts.
Could it be that we are exporting most of what is drilled/fracked? Nah, the Democratic/Communists wouldn't be so sly.
Ping
We import heavy crude oil and export diesel and other petroleum distillates. This is good for our trade surplus.
Our refineries can process more oil than we have here.
So, the refineries buy oil at $75/barrel.
They refine it into something and sell it back to someone else for $250/barrel.
Well drillers from Wyoming to Texas told me different. New wells were drilled by old wells.
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