9000 unused leases on Federal land.

[Into the Night]

As of Dec 31, 2021 there were 9,173 approved permits to drill.
8,658 were on Federal lands
515 on Indian lands.

https://www.blm.gov/sites/blm.gov/files/docs/2022-02/FY 2022 APD Status Report December.pdf

From Oct 1- Dec 31, the Biden administration processed 710 of 842 applications and approved 682 of those. So they are approving 96% of processed applications for permits to drill.

In New Mexico there are currently 4,509 approved permits to drill that have not yet been used.

A lease is not a permit.

 

[Into the Night]

The reason they don't drill on those lands is because doing so will increase the supply and reduce the price per barrel, thus reducing their profits.

Who are 'they'?

It's not in an oil company's interest to start a new well because of the effect the increased supply will have on the price per barrel, which will reduce the oil company's revenue and profits.

So no sale is better than...what?

The exact same thing happened with natural gas and the result was 400 natural gas company bankruptcies to the tune of more than $100B from 2015-2020.

Not what causes bankruptcy, dumbass.

 

[cancel2 2022]

You dont.

You're a sore loser, Jarod.

 

[cancel2 2022]

Of course they do.....If they can lease, raise financing, explore, find, drill, transport, and sell their oil. Biden is dragging his feet on leasing and issuing permits which is having a chilling effect at finding investors.

Why do you bother with Lousy Vermin, she's certifiably insane?

 

[Into the Night]

Exactly!

My old partner was a geologist undergrad while in Med school he supported his family by putting together small oil leases to sell to oil producers who in turn sell shares to investors. I invested in some of his deals because I knew they were a particularly good chance of striking oil. The wells are in the Texas Permian basin. Rising oil prices are good for me but very bad for America. Trust me if oil companies could make money buy simple drilling on a Federal lease then they would be drilling tomorrow. I remember one well I bought 3% of took 8 months to get a rig on the site. That one was a dry hole

Sucks. Well...you tried. That's a hell of a lot more than these idiots ever have done!

 

[ExpressLane]

Why do you bother with Lousy Vermin, she's certifiably insane?

I love exposing her idiocy to everyone.

 

[Into the Night]

Oil was $50/barrel because OPEC increased the supply in 2015.

The price per barrel in 2014 was about $96, which then dropped to about $52 in 2015, and then dropped again to $46 in 2016.

All thanks to OPEC production increases.

That resulted in tanking 42 US oil companies in 2015, and 58 US oil companies in 2016.

Increasing domestic production will not have anything more than a nominal and temporary impact on the price per barrel because we only control 2% of the world's global oil reserves while OPEC controls 80% of them.

You fucking idiots never seem capable of understanding that, and I think it's because your family tree looks like a stump.

OPEC doesn't control 80% of the world's oil. You are making up numbers again.

 

[Into the Night]

Your evidence of them going elsewhere is what? If they were going elsewhere to drill why is the international production not up by a larger percentage than US production? If all those rigs went elsewhere then why is the current rig count in the US 65% higher https://rigcount.bakerhughes.com/na-rig-count


This story is about drilling problems in India in 2006. It has nothing to do with drilling on Federal lands in 2022.


This story is about projected drilling shortages in 2012 in the Mideast. It has nothing to do with drilling on Federal lands in 2022.


The highest rig count in 2 years and yet you want to argue they don't have enough rigs because they went elsewhere? It seems you didn't read any of the articles you posted.

Not having enough rigs does not equate to not having permits which is the false claim that is being made here. If there are 9,173 permits to drill and only 663 rigs, is the problem that there are not enough permits? or the actual problem that there aren't enough rigs even though we have more rigs than any time in the last 2 years?

A lease is not a permit, dumbass.

 

[Into the Night]

I can read. This is what you said:



Either you are too stupid to know what a permit to drill is or you are now moving the goalposts because you know your original claim was false on several counts.
1. False when you claimed it was 9,000 leases since it's actually 9,000 permits.
2. False when you claimed the government is dragging their feet on permits to drill since there are currently over 9,000 permits to drill approved and the Federal government is approving almost all of them within 90 days.

Fallacy fallacy. Pivot fallacy. False equivalence fallacy.

 

[Into the Night]

Where's your link, or did you pick this number out of your hat??????????????

What number?

 

[Into the Night]

Look it up, its a proposed fourth addition that was proposed and killed, Keystone I, the addition Keystone II and the addition III area all three up and running.

Pivot fallacy.

 

[Into the Night]

I did not say a proposed shorter or faster route was built, your reading comprehension is terrible. Your useful idiots believe it was built then shutdown and that gas prices went up overnight because of Biden.

Not overnight. It took a few months. But Biden is responsible.

 

[Into the Night]

No need. It's a strawman. It's complete and utter nonsense. Oil companies have been avoiding Fed leases for decades because they have to actually abide by common sense guidelines.

140 days is too long to wait to get a permit? American oil companies have been refusing to drill in order to drive prices up.

Strawman. Nonsense. So you are now free to STFU, after you tell us why regulations are not needed in the industry.

Nope. They can't drill.

 

[Into the Night]

Much as it pains me to agree with Jarhead but he's mostly right. The map explains!

The XL pipeline is not completed. It will provide an important terminal in Montana.

 

[Into the Night]

you intentionally tried to substitute the old slower route for the blocked new, faster route.......I expect you did it because you were ignorant of the fact they weren't the same thing, but maybe it was an intentional attempt to deceive.....perhaps you can make it clear which it was......

The slower route also does not serve Montana, what will become an important terminal for oil. That terminal will serve Idaho, Montana, Wyoming, and west Dakota sources.

 

[Into the Night]

Wrong the fourth extension of the Keystone pipeline would have taken Canadian crude to American refineries for later export. It was a boondoggle for refineries and Russians.

The XL pipeline does not go through Russia.

 

[Into the Night]

No...banks lowering lending standards.

Not about lending, dumbass.

 

[Into the Night]

Exactly...they saw what happened to natural gas from 2015-2020 and have pulled back on new wells and production because of the hit to the price per barrel.

Hallucination.

 

[Into the Night]

Different lenders.

Not about lending.

 

[Into the Night]

What was bullshit that I said?

Is a lease the same thing as a permit?
Are there 9,173 permits approved for drilling on Federal and Native lands as of Dec 31, 2021?

Gosh, you managed to find an expert that doesn't know the difference between a lease and an approved permit. Great expert you have there.

Here is my evidence of over 9,000 approved permits
https://www.blm.gov/sites/blm.gov/files/docs/2022-02/FY 2022 APD Status Report December.pdf

A lease is not a permit.