Biden administration cancels oil and gas lease sales in Alaska, Gulf of Mexico The In

floridafan said:
Like most everything else, you have no idea what you are talking about. That was an easy question.
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ig·no·ra·mus
/ˌiɡnəˈrāməs/
noun
• 1.an ignorant or stupid person:

Projection
Projection is the process of displacing one’s feelings onto a different person, animal, or object. The term is most commonly used to describe defensive projection—attributing one’s own unacceptable urges to another. For example, if someone continuously bullies and ridicules a peer about his insecurities, the bully might be projecting his own struggle with self-esteem onto the other person.
 
Earl said:
Biden administration cancels oil and gas lease sales in Alaska, Gulf of Mexico
The Interior Department will not move forward with planned oil and gas lease sales in the Gulf of Mexico and Alaska’s Cook Inlet, it announced Wednesday night.


https://sports.yahoo.com/energy-environment-biden-administration-cancels-224145916.html
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You are aware that the U.S. is the seventh leading exporter of oil in the world? Even if they opened up drilling in your backyard it doesn’t mean that that oil is going to stay in the U.S.
 
archives said:
You are aware that the U.S. is the seventh leading exporter of oil in the world? Even if they opened up drilling in your backyard it doesn’t mean that that oil is going to stay in the U.S.
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liar
noun
li·ar | \ ˈlī(-ə)r \
: a person who tells lies
has a reputation as a liar

ig·no·ra·mus
/ˌiɡnəˈrāməs/
noun
• 1.an ignorant or stupid person:

The United States remained a net crude oil importer in 2021, importing about 6.11 million b/d of crude oil and exporting about 2.90 million b/d. However, some of the crude oil that the U.S. imports is refined by U.S. refineries into petroleum products—such as gasoline, heating oil, diesel fuel, and jet fuel—that the U.S. exports. Also, some of imported petroleum may be stored and subsequently exported.
 
floridafan said:
Does that have any effect on todays oil prices? There must be a logical reason, but we cant know since your link doesn't work
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To a limited extent, yes it does. Expectations of increased oil production in the future can drive down speculation prices in the futures market today just as expectations of less drilling and oil in the future can drive them up.
 
T. A. Gardner said:
To a limited extent, yes it does. Expectations of increased oil production in the future can drive down speculation prices in the futures market today just as expectations of less drilling and oil in the future can drive them up.
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gobbledegook. We are speaking of a good number of years from now, not one or two. You know NOTHING of the futures market, just more hot air.
 
floridafan said:
gobbledegook. We are speaking of a good number of years from now, not one or two. You know NOTHING of the futures market, just more hot air.
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No, that's how it works. I get offers on my percentage in royalities from wells in Texas (had a uncle who owned a large ranch outside Gonzales TX) and get offers based on future expected production from companies like this one all the time:

https://sansabaroyalty.com/

Their engineers will produce an expected output from a well for the next 10 to 20 years and base their offer on that.
 
floridafan said:
Like most everything else, you have no idea what you are talking about. That was an easy question.
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Perhaps, was an easy question?......still seems rather obscure from here?........let's try again.....do you think the fact the government isn't issuing permits to drill on leases has a negative impact on the lease market?......
 
T. A. Gardner said:
To a limited extent, yes it does. Expectations of increased oil production in the future can drive down speculation prices in the futures market today just as expectations of less drilling and oil in the future can drive them up.
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Right. Which is why American oil companies were refusing to increase production. No different than OPEC
 
$4.59 a gallon this morning


s-l500.jpg
 
Biden Administration Restricts Lending for Overseas Fossil ...
https://www.sierraclub.org › sierra › biden-administrati...
Aug 19, 2021 — The US Department of Treasury's new rules restricts oil and coal financing, but leaves the door open for gas projects.


"Earlier this week, the Biden administration announced that it would end overseas financing of new oil and coal projects through multilateral development banks such as the Word Bank, a policy move aimed at shifting global capital away from fossil fuels at a time when the climate crisis is deepening. While the policy does allow for the continued financing of some overseas gas projects, it is likely to accelerate the transition to renewable energy by cutting off the investment pipeline for the least necessary fossil fuel projects.

The United States plays an influential role in multilateral development banks (also known as MDBs) as well as regional development banks such as the African Development Bank, the Inter-American Development Bank, and the Asian Development Bank. As the largest shareholder in these institutions, the United States holds major sway over their lending policies."
 
"Getting lenders to choke off money to fossil fuel companies is the next needed move for the industry to address the material risks that the coal, oil and gas industry faces," says Leslie Samuelrich, president at investment advisory firm Green Century Capital Management."
 
Edward B. Harmon: Biden working to destroy fossil fuel industry
https://www.gainesville.com › story › opinion › 2022/03/24
Mar 24, 2022 — Blame high gas prices on Biden's efforts to destroy fossil fuel ... been completed it would now be supplying about 830,000 barrels of oil a ...
 
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