re: Montana O&G Industry Restarts Dormant Oil Wells Amid Biden's Gas Price Explosion

WTI Crude Oil (Nymex) USD/bbl. 109.33
Brent Crude (ICE) USD/bbl. 112.67

We drill and run or economics on the price of a barrel of crude oil or mcf of natural gas…

Not what you pay for the gasoline you put in your vehicle .. what taxes they pay for on their gasoline in California or Brazil makes no difference to the economics determining if if will be spudding a well.

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At what point does drilling for fossil fuels cost-effectively thus generating significant income for an individual State, become a State’s-right issue? Especially when the federal epa is blowing political smoke up asses?

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That is a good question, and I don't know all the back history and any court challenges to the EPA's authority, but it seems that stuff has been taken out of the individual states' hands a long time ago, and unfortunately, it seems in some instances is negatively affecting the right of some of these states to make income.

Now from the perspective of Federal Lands where the Federal Government (Dept. of Interior) is able to impose its will and approve or deny lease sales, drill permits, infrastructure ROWs, etc., even if the states told the oil & gas companies to "go for it", I doubt you'd see industry outright deciding to trespass on Federal Lands. That's a property rights issue, and in those instances, the Feds own the property.

We'll see how the API lawsuit and other such suits for new leases pans out. That's the way industry is going to fight those restrictions.

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But we have been as recently as two years ago completely energy independent. What changed?

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What changed is we had a pandemic and oil and gas prices dropped to near zero. When that happened ALL oil companies stopped spending on E&P. Supplies will always drop unless E&P is actively pursued, therefore SUPPLIES DROPPED.

I keep telling you idiots that Biden had almost nothing to do with the shortfall, just as Trump had almost nothing to do with the surplus. It was the free market booming on the discovery of fracking horizontal wells, then the free market responding to the shock of the pandemic. Now the free market is responding to the shortfall, and in one year we will have a surplus EVEN THOUGH BIDEN IS A DICK!

I realize this is doing no good. You will continue to force fit the facts to your ideological narrative, but there it is. Biden is definitely pursuing policies that will depress oil and gas production, but the negative effects are still about two years away.

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I keep telling you idiots that Biden had almost nothing to do with the shortfall

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Slow down there, no need to use the rhetoric of a child.

So you are saying that there is absolutely nothing that Biden has done that has an impact on the price of oil/gas? Does this also mean that his policies have no impact on the prices of other things? Such as the price of food, and other items? We are currently seeing inflation at record levels, why is that?

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Im definitely no fan of Biden, but i thought gas prices were sky high all over the world, not just in America ? Please correct me if im wrong .

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It was, but simple minds need simple explanations and just blaming whatever president is in office works (except for Trump. If Trump was still in office they would blame something else. For some reason Trump gets a pass).

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It was, but simple minds need simple explanations and just blaming whatever president is in office works (except for Trump. If Trump was still in office they would blame something else. For some reason Trump gets a pass).

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By every measurable statistic, the economy of the United States was the best in recorded history during trump’s presidency. More jobs available than people to fill them. Actual wage growth. Benefiting all races. So tell me, does trump deserve credit for that?

It’s well known that shale needs $80/gal to operate. And shale is a terrible thing for our beautiful country. I’m usually pro-drilling, but shale is a different beast. Most oil drilling is deep and has little effect on the surface. Shale is the opposite - it’s extremely shallow and destroys the surface of the land. It’s extremely low volume in any one spot, so the harvesting is constantly moving. Shale fields are known as such because after shale is taken, the remaining is absolute worthless and altered permanently. Anyone that’s not knowledgeable about shale should read up on it or watch some videos. It’s an incredibly inefficient and destructive process

well Thank god you're here to remind us what a charlatan he is

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By every measurable statistic, the economy of the United States was the best in recorded history during trump’s presidency. More jobs available than people to fill them. Actual wage growth. Benefiting all races. So tell me, does trump deserve credit for that?

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He walked into a record breaking economy. The stock market and oil production were the highest in recorded history when he took office. He oversaw the highest spending and accumulation of debt in the history of the USA, even after the 2008 crash. I'm not even talking about politics, just business.