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Joe Biden


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52 minutes ago, St1ck said:

Q2: How will this affect U.S. oil and gas production?

A2: Federal land accounts for about 24 percent of oil and gas production in the United States, mainly in the offshore Gulf of Mexico. But since companies with existing leases will not be affected, the near-term impact on exploration and production as well as royalties to states will be limited. With more than 26 million onshore acres and 12 million offshore acres already under lease, there is a deep inventory of exploration opportunities. Companies may have secured more onshore and offshore permits in recent lease sales in anticipation of a policy change by the Biden administration. A more permanent leasing ban would have a significant impact, although visible offshore production declines may not materialize for up to 10 years,

Also:

Federal judge reverses Biden's ban on new oil and gas leases for federal lands and waters, dealing blow to climate change activists - CBS News
https://www.cbsnews.com/news/biden-ban-new-oil-gas-leases-federal-lands-waters-judge-reverses/

 

 

 

If his first actions didn’t limit supply and increase prices , why did he reverse part of the ban to lower prices? why did he only do 1/5th of the available land? He also significantly raised the fees so the customers could absorb those prices. Also, The Russian invasion wasn’t a surprise. A leader has to understand that a likely invasion would limit world supplies thus now is likely not the time to cut production. 

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15 minutes ago, Kotchman said:

If his first actions didn’t limit supply and increase prices , why did he reverse part of the ban to lower prices? why did he only do 1/5th of the available land? He also significantly raised the fees so the customers could absorb those prices. Also, The Russian invasion wasn’t a surprise. A leader has to understand that a likely invasion would limit world supplies thus now is likely not the time to cut production. 

Short answer to my original question is: no. 

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