3 ms·
This isn't true. If you can prove me wrong I'd be happy to read about why. It sounds like we're talking about leases. talking about future production, the Bid
by dillondoyle 5y ago
This isn't true. If you can prove me wrong I'd be happy to read about why.
It sounds like we're talking about leases.
talking about future production, the Biden admin allowed more federal lands leasing in their first year than trump did. [1]
They paused new leases at the start but they're back. They are trying to get more money from lease sales but idk where that's at.
And with high covid prices the admin asked companies to increase production back to pre covid levels faster.
Total us production isn't back to pre covid levels yet [2], but all the reporting I've raid says it's because of covid, manic swings in demand and pricing, share price volatility, pressure to reign in spending, and push for renewables [3]
Personally, we do need to get strict with leases. This transition period is going to be painful hard to balance such long term assets (like decades to build and get roi from new large oil development) with a transition that we need to happen as fast as possible.
Going to hurt but could hurt less if we can spend the few T needed to beef up renewables, get new cars on road, replace electric stoves, etc.
[1] https://biologicaldiversity.org/w/news/press-releases/new-data-biden-slays-trumps-first-year-drilling-permitting-by-34-2022-01-21/ https://biologicaldiversity.org/w/news/press-releases/new-da...
[2] https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=M...
[3] https://www.cnn.com/2021/11/10/energy/oil-gas-prices-joe-biden/index.html https://www.cnn.com/2021/11/10/energy/oil-gas-prices-joe-bid...