re: Federal Government Cancels Offshore Drilling Sales in Alaska and Gulf of Mexico

Either Trump or Putin caused this. We know it wasn’t this administration.

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First off I am pretty sure that none of these new leases would affect gas prices one way or another for years as I am sure that it will take that long to tap the sources and put in the infrastructure to get it to the refinery.

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The bigger problem is that the Biden administration canceled leases 15 months ago when they first took office - barely a week after inauguration; citing concerns over the global warming crisis.

Im curious how another lease sale would take place when that judge canceled the ones we already sold in November. Wouldn't he just block these too?

Apparently that block was appealed on Feb 9th by the API but nothing has happened since

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Most of you in this thread don't understand how big of a crisis global warming really is to mankind.

It's so much more important than affordable energy, food, and housing. If you don't agree then you are a selfish racist.


Here's the thing. You can argue the why of things all you want, but there is literally no doubt that things ARE changing. They always have, but in the past people couldn't predict the coming disaster so they just got wiped out when it hit. We will either be prepared or not, but if you don't think a changing climate doesn't severely affect energy costs, affordable housing, and especially food and water, then you really haven't been paying attention.

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Oh, it's you again. So you're just a Troll on the board, now doubling down on another trolls post... you got me with your first stupid Troll post. This one would have never gotten me. First one was a 7/10, this one is like a 1/10.

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They are running this show like they aren't at all concerned about re-election.

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The "big guy" isn't running again.

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That's not the point of the statement. DEMS are acting like they are not afraid of the voters. Is that more clear?

Here's a bit more clear. As long as DEMS believe they can control the vote count and can stuff ballots, they have no reason to fear the voters and can act to destroy the country without any concern that they'll be voted out and everything they did gets reversed.

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That's not the point of the statement. DEMS are acting like they are not afraid of the voters. Is that more clear?

Here's a bit more clear. As long as DEMS believe they can control the vote count and can stuff ballots, they have no reason to fear the voters and can act to destroy the country without any concern that they'll be voted out and everything they did gets reversed.

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Equally as likely/scary is that dems see the crash coming and wanna be out of office when it happens so they can deflect blame

You guy do realize these are not drilling in Jed’s backyard

Assuming there is a prospect on the land which you already identified ( takes a few years to map it once.. remap with more data.. put on budget.. make the lead cut.. get money from management.. Then we get the lease… map it again.. get approval to drill… usually cost hundreds of millions of dollars and a few years.. so lots of years have passed…

The we have a discovery ( 15 percent chance of that) then we make a plan to develop.. so to get to this point we spent years and years and millions and millions ..

Took 12 years after we drilled and discovered ram to get it online

1985 - Ram Powell Oil And Gas Field discovered
1997 - Production started

Alaska pretty intense also.. pretty harsh environment.. and oil companies have been passing on Alaska and GOM leases for years.. risk versus reward… thus the unconventional plays became the preferred targets…

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yea i dont see how anyone can logically believe that drilling less wont influence price.

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I think most people who can look at this objectively and have knowledge of the industry realize two things:
1. The lease sale cancellations/lawsuits/etc. probably haven’t impacted our oil supply much (if at all) yet.
2. It’s still incredibly irresponsible over the long term and it’s just setting us up for things to get worse.

Realistically, there’s a pretty long period of time between lease and first oil. This is particularly true offshore - companies have some amount of data (seismic etc.) to support the lease investment, but they still have to drill exploratory wells to prove reserves. Once they prove reserves they still have to do more exploratory drilling to get a good model of the reservoir. Then they have to do the financial analysis to justify development of the field and make an investment decision. Then they have to do the engineering design - both in terms of well planning (the reservoir engineering aspect) and design of the infrastructure.

That engineering design could take months if there’s an existing platform close enough to just add a new subsea tieback. In practice, blocks with any potential near existing platforms are probably already leased anyway. So if a new production platform is required, you’re talking about years of design work. Then they have to actually build the platform (which also takes years), drill production wells, and commission everything. And even when you finally get to first oil, you’re probably still several years away from peak production.

Deepwater O&G projects have a long lead time, and because of the 10+ year horizon there is a ton of scrutiny before anything actually happens. These projects often go on hold and restart several times before actually getting built because of changes in market outlook. Nobody wants to spend billions of dollars on a new facility and then immediately hit another 2014-level downturn.

So yeah, Biden’s slow walk of the lease sales probably isn’t impacting the price of gas right now. That being said, these policies could cripple us in the future. O&G companies actually have money to spend on deepwater exploration right now but that exploration is limited to existing leases until the administration either lifts the moratorium or it gets overturned in court. It’s not hard to see how kicking this can down the road can create problems for us in the future.

Well said and 100% factual and true.

And that Psaki bitch is no longer there to tell us He didn't do it!!!". If she was, she would stand up there, lying her arse of.