While that statement may or may not be technically correct, nonetheless, it's a huge lie by omission. It's intentionally misleading and marketed toward a gullible and ignorant segment of the population and also ruinous to our economic and strategic security.
So Jen, exactly which leases are the “oil companies are not tapping into”?
- Are you so ignorant that you think an “oil lease” has oil & gas just because it’s an “oil lease”?
- Are you so dumb that you think we can just “tap into it” because it’s an “oil lease”?
Yes, those were rhetorical questions…
Oil leases are, in fact, the mineral rights to geographical tracts of land/seafloor. They don’t have oil because the government designates them as “oil leases.”
Facts and figures at the above link. Please read the whole thing before you post.
Off topic posts will be deleted.
Warren
Republicans Probe Putin’s Alleged Effort To ‘Undermine American Energy Security’ By Funding US Green Groups
ReplyDeleteI deleted all of Thought Criminals comments because I'm tired of his BS.
DeleteRead little Warren's link and agree with it thoroughly without question or you're not invited to his circle jerk. Remember, oil companies hate making money and that mean ol' Biden is forcing them to.
DeleteI didn't ask you to agree with it, I asked you to read it, which seems beyond the level of your comprehension skills or your reading ability.
DeleteDon't like it, tuff shit, I don't care.
This is your last comment on one of posts and I'll delete any other comments you make -on one of "my" posts- whenever I get around to them. The other administrators may do whatever they wish.
So who owns those oil leases, and are all the owners "fully capitalized" enough to exploit them? How many are in states with fracking bans/moratoriums? And as Warren said, how many are useless tracts of ocean bottom in deep water where every foot of "exploratory" well drilled costs $1m a foot to explore?
ReplyDeleteEnquiring minds wish to know.
DeleteNew York banned massive hydraulic fracturing by executive order in 2012. Vermont, which has no known frackable gas reserves, banned fracking preventatively in May 2012. In March 2017, Maryland became the first state in the US with proven gas reserves to pass a law banning fracking.....
DeleteOregon has temporarily banned fracking.
@ TC
DeleteYou didn't read the article or you wouldn't be spouting BS or maybe you would just be spouting BS anyway.
The one about being an imbecile and drunk blogging.
DeleteJust admit you didn't read the article and put the bottle down.
So you're saying you didn't read the article and that you're drunk again, right?
DeleteHere's a hint, it's much easier to read if you aren't drunk. It's a attention span thing.
Here's a hint dimwit, read the article then dispute it.
DeleteYou can't be bothered to read it, I can't be bothered to argue with someone that doesn't know what's in it.
Keep it up and I'll just start deleting all your comments just like I did the last two.
I don't get offended by drunks but if you read the article you would know what was in it.
DeleteYou're not funny, you're just annoying and a waste of my time until you READ THE ARTICLE.
If you had read the article you would find the answers to your questions.
You can't be bothered, I can't be bothered.
No you didn't. You "might" have read the first paragraph.
DeleteIf you had read the article you would know instead of guessing. For one thing, you don't know the difference between a "lease" and a "permit" or how long it takes to get one.
DeleteYou got caught in your BS with your pants down and can't admit you lied. Not my problem, it's yours.
“I Guarantee You We’re Going To End Fossil Fuel”
ReplyDeleteOFF TOPIC COMMENTS WILL BE DELETED
ReplyDeleteWhy the bid to destroy the fossil fuel industry when past predictions of doom have been completely wrong?
ReplyDeleteOil independent 10 minutes before dems take over. Begging for oil 10 minutes after. This is simple. This is happening because it is what they want to happen.
ReplyDeleteA good article for those who want to skip the meme's and bumper stickers.
ReplyDeletehttps://www.forbes.com/sites/rrapier/2022/03/08/surprise-the-us-is-still-energy-independent/?sh=1d90f88830b6
^^DESPITE Biden's best effort^^
DeleteIf we learned nothing under Trump, it was that the amount of effort required by a President to change the direction of the Deep State Bureaucracy is far more than the effort required of a sea captain of an ULCC oil tanker to affect a stop by the dropping of anchors, putting engines into Full/Crash Astern, and bringing the vessel to a dead stop.
...for that order has to pass through thousands of management layers and committees before implementation can even begin to have an effect.
Delete...and they kinda haveta "want to".
DeleteIT's NOT JUST OIL, it's mining too.
DeleteThen, there's this.
DeleteDemocrats Block GOP Bill That Would Restart Keystone XL, Federal Oil Lease Program
Costs of a gallon of Gasoline:
Deletefrom: the U.S. Energy Information Administration
The taxes and other fees on retail gasoline and diesel fuel, in cents per gallon, as of July 1, 2021
Gasoline Diesel
Federal 18.40 24.40
Average of total state taxes 30.63 32.29
Federal taxes include excises taxes of 18.3 cents per gallon on gasoline and 24.3 cents per gallon on diesel fuel, and a Leaking Underground Storage Tank fee of 0.1 cents per gallon on both fuels. State taxes include rates of general application including, but not limited to, excise taxes, environmental taxes, special taxes, and inspection fees, but they exclude state taxes based on gross or net receipts. State taxes do not include county and local taxes.
Via google:
the markup (or “margin”) on a gallon of gas is about 15 cents per gallon (gross profit before expenses). Factoring in expenses, which include rent, utilities, freight, labor and credit card fees, a retailer is left with about 2 cents per gallon in profit.
Via CNN 2008 oil was around $110 a barrel (45 gal.):
Transportation: Getting the gas from refineries to service stations via trucks or pipelines - and the cost of storing it in large tanks - eats up another 23 to 26 cents per gallon.
Refining: About 24 cents a gallon goes to refining companies like Valero (VLO, Fortune 500), Sunoco (SUN, Fortune 500) or Frontier (FTO, Fortune 500) that specialize in turning crude oil into gas. Some companies like ExxonMobil (XOM, Fortune 500), Chevron (CVX, Fortune 500) and ConocoPhillips (COP, Fortune 500) also have refining operations.
Profits for refiners have been squeezed lately because the price they pay for oil has risen so much faster than the price they can sell the gas for. This helps explain why Big Oil companies -like Exxon, which actually buys more crude oil than it produces - haven't seen their profits rise as much as the price of oil.
Crude oil: This is the most expensive part of a gallon of gas. Of every gallon of gas $2.07 from every gallon of gas goes to producers of crude like Chevron (CVX, Fortune 500), BP (BP), and smaller outfits like Anadarko (APC, Fortune 500) and Marathon (MRO, Fortune 500), or national oil companies controlled by countries like Saudi Arabia, Mexico or Venezuela.
"It's difficult to generalize; there's a whole spectrum of costs," said Ron Planting, an economist with the American Petroleum Institute, an industry trade group.
They can range from $1 a barrel to produce crude in Saudi Arabia to over $70 a barrel to find, develop and pump oil in the deep water Gulf of Mexico or off the coast of Algeria, said Ann-Louise Hittle, an oil analyst with the energy consultants Wood Mackenzie.
EIA estimates it costs U.S. oil companies an average of about $24 a barrel to find, develop and produce oil worldwide, but that doesn't include costs like transportation, administration, or income taxes - which can be substantial. While Exxon made $40 billion in 2007, a 60% increase from 2004, it paid $100 billion in taxes and royalties.
The price of a barrel of oil is controlled by the market through speculation.
I do not understand why Jen Psaki is delivery such incendiary remarks. Biden is and the whole administration is ruining us.
ReplyDelete*delivering
ReplyDeleteThe Democrat campaign strategy is simple: blame Putin. Bonus, many Republicans have made some very stupid comments regarding Russia and Putin, so tying the GOP to Russia is an easy job.
ReplyDeleteThe Russian invasion of Ukraine is indeed causing global inflation. We will end up seeing food riots in the third world.
Of course, it is all Putin's fault, so who can argue against that?
Unfortunately, this very real tragedy will end up masking Democrat and competence and biden's fumbling and bumbling.
The simpler they can keep the "narrative", the easier to maintain their destructive policies.
DeleteWell it seems to me the Dems are corrupt and where are the Republican voices...so far and few in between. Makes me think they now are just as culpable.
DeleteJust as culpable or just as corrupt.
Delete:)
ReplyDeleteCI brings the big gun to the discussion and no one comments on it. The reflexive response to our higher gas prices is to blame Pres Biden and decry that the US has to import oil and is therefore, not energy independent.
ReplyDeleteExcept in 2020 for the first time in over 50 years, we became net exporters of energy and continued that trend in 2021.
The USA is energy independent, pure and simple.
Why are conservatives not trumpeting that reality?
The price of gas didn't go up? Who knew?
DeleteWhy aren't liberals trumpeting the beginning of WWIII?
DeleteGREAT JOB, Global Neoliberalism!
Why did the price of gas go up? It wasn't Biden... it was the RUSSIANS!
DeleteWE are ENERGY INDEPENDENT. HooRAY!
DeleteAll the neoliberal globalists want now is regime change in Russia and China....
Delete...or a collapsed US dollar. I'm not sure which the "easier" goal is at present.
He did once "Bring down the Bank of England" after all. Is the US dollar next?
DeleteThink he's "shorting" US Treasuries, or going "long"?
DeleteWhat do the hedge funds say?
DeleteThe ticker says that 68% of clients are "Net Long" on the Euro over the Dollar.
Delete72% are "Net Long" on Gold.
Delete77% are "Net Long" on the British Pound and Japanese Yen.
DeleteI'd say the world doesn't have much confidence in the US$ at this point.
It may be time to usher in a new world reserve currency.
DeleteOnly 53% are "net long" on US Crude Oil.
DeleteBefore or after Biden forces stay at home government workers and contractors back into commuter traffic?
Delete...and I thought you hated price controls and tariffs.
DeleteExport tariffs it is...
Delete@ Dave Miller:
Delete"The USA is energy independent, pure and simple."
No, pure and simple is the fact we are importing oil. We wouldn't be importing oil if we were "energy independent". There for, saying we are energy independent is an oxymoron
Warren, we are net energy exporters, since 2020, for the first time in our history. That means, by definition, that we export more than we import. The simple fact is that countries use different grades of petroleum, different energy products, etc and import and export to balance that out.
DeleteCI, TC and I have all cited the numbers included in the Guardian article which match the numbers from eia.gov
Can you provide any links or sites that refute the government numbers that have existed across two administrations?
@ Dave Miller: "we are net energy exporters"
DeleteThank you, President Trump!
https://www.eia.gov/todayinenergy/detail.php?id=51338
Simple logic, Dave. If we are importing oil for our own needs, we are not -by definition- energy independent. We were a Net exporter of oil and no longer are.
ReplyDelete"In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020, according to the US Energy Information Administration (EIA).Feb 20, 2022"
ReplyDelete^ Note the date.
Delete+++
Delete"Facts and figures at the above link. Please read the whole thing before you post."
ReplyDeleteI'll cut it extra short as I made it as far as "The Brandon maladministration".
RJW,
DeleteSo you made the conscious decision to remain uninformed?
"The Brandon maladministration" lead to the conscious decision of how credible the information was likely to be.
DeleteRonald, I have a similar rule of thumb, so I don't criticize you for that. I'm sure you rejected all essays hurling similar insults at President Trump, right? or were those OK?
DeleteDon't even answer. You're not the only one...
It's pretty clear: Leases do not equal oil underneath, nor a green light to extract and ship out, as he points out.
DeleteMore info:
https://kslnewsradio.com/1965311/drill-baby-drill-theres-more-to-oil-and-gas-leases-says-insider/
https://www.yahoo.com/now/biden-administration-misusing-facts-oil-203140624.html
Also, as TC has screamed out thousands of times, the tar sand oil is not high quality. Granted.
DeleteThere are various grades of crude oil, and different grades get slotted into a specific category of production. Some goes to gasoline, some goes to plastics.
So, lower grade petroleum going into the market adds to the aggregate and frees up higher grades to be used in other production.
By far, Biden's stupidest and most venal, politically-motivated move was releasing oil from the strategic petroleum reserve.
DeleteHow stupid and short-sighted. We could end up facing a real global oil shock (and food shock).
Little sugar high hits like that (that ended up falling flat) for some short-term political gain is unconscionable.
Basically, cracking crude into it's components is a distillation process with each component refined into the products we use the most. The ones we use the most are the lighter components through further distillation, additives and refinement.
DeleteEvery barrel contains "some" of the components in greater or lesser amounts.
The amounts of these end products can be shifted around, slightly, but not much, percentage wise.
The lightest are the most volatile and the heavy almost inert -say LPG at one end and road patch at the other-.
That was from memory so...
Lets assume one could get past the red tape. We are dealing with a staggering
ReplyDeleteamount of ignorance. Electricity doesnt come from the tooth fairy. Renewables are just not reliable and should always have more conventional backups.
It’s impossible to have an adult conversation about energy without understanding that greens are typically repackaged communists.
I also fail to see how a party that is controlled by elites in Big Tech, Big Media and Big Education can masquerade as a working class party. Hillary Clinton sees a gathering of Truckers as deplorables but Bill sees voters. This obnoxious elitist drift started under Obama and has gotten worse.
"It’s impossible to have an adult conversation about energy without understanding that greens are typically repackaged communists."
DeleteI remember Rush warning us of that back in the 90's.
And you're right. The left is losing it. They are now a coastal 'elite' party. A true workers' strike would leave them sobbing in their own pathetic helplessness.
Beak,
DeleteUp votes for that comment.
Wait till Europe refuses all gas from Russia. Our heating bills will skyrocket. There are barely enough LNG ships to supply Germany.
ReplyDeleteBiden Oil Embargo, of US Oil
ReplyDeleteAnother sign of how absurd the energy commentariat has gotten. We've been reading for years about how renewable energy is now cheaper than fossile fuels. You even read that nonsense in respectable outlets like Forbes.
How do we know all that blather is just hopium-fueled balderdash?
If it were true, money-making utilities would be rushing to it.
For a dose of reality, go yahoogle Germany energiewende.
Vice President giggles needs to stop hitting the bong before important public appearances...
ReplyDeleteKamala Harris laughs in response to a question on Ukraine; Slammed online for 'insensitivity'
Her chronic inappropriate laughter isn't funny.
SF,
DeleteShe was chosen because she is female and has brown skin -- and is far to the Left, too, of course.
She is an international embarrassment now. Sheesh.
Our diversity hire Vice President embarrassed someone?
DeleteIt's almost as if your breaking Washington DC's unwritten rule of speaking no evil of any beneficiary of affirmative action.
It's right next to the unwritten rule, about not mentioning a Congressman's family member's windfalls or the legitimacy of a particular voting system once its' been "certified", or that the only thing you can expect from our justice system is the appearance of process...
...so tune in next week for more "unwritten rules" for our new Reality TV Show, "The Congress". It's got its' own channel now... called C-SPAN.
Deleteps- And when we want to actually hear or see your opinions in writing, we'll give you them.
Somebody call CIA central casting. The Ukraine needs a new President!
Delete...and while you at it, start auditioning some new members of The Squad from the Justice Democrats Talent Agency!
Deletebad link, above.
DeleteLOVE that graphic. Summarizes the whole story. Z pointed out elsewhere from friends who work in this industry that yes, yes, they have a lease but getting a permit for a ROAD to access the site is sometimes impossible.
ReplyDeleteBAYSIDER