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Posted on 5/22/25 at 7:47 am to Riverside
quote:
and has allowed drilling to resume in public lands
Drilling had stopped on public lands?
Posted on 5/22/25 at 7:49 am to prplngldtigr
Gas prices will decrease, but shipping and delivery costs will increase as usual.
Posted on 5/22/25 at 7:51 am to Thecoz
quote:
Curious as to what specific actions Trump has done that resulted in an “increase in oil production and decrease in crude oil price “
Nothing at home has really materialized yet to increase domestic production. In fact, we’re currently a tad lower than the end of 2024, however, we’ve been a tad higher Feb-April this year than Feb-April 2024.
President Trump can probably be credited with pressuring the Saudis to increase production on there end, so that world supply is higher.
Posted on 5/22/25 at 8:06 am to ragincajun03
Or push back to non opec countries for over producing and cutting into their market share… and to lower product price to drive small us operators out of business.. to regain market share from us operators … and slow down us companies from drilling their inventories of already proven undeveloped leases targets ..
Same story every few years.. global economics win..
Same story every few years.. global economics win..
Posted on 5/22/25 at 8:39 am to Thecoz
quote:
“It kills them to report anything that could be taken as a positive for Trump.”
Curious as to what specific actions Trump has done that resulted in an “increase in oil production and decrease in crude oil price “
Well, the cause of lower or higher gas prices is like the female orgasm, there is much speculation and mystery. Truly, part of the equation in gas prices is actual speculation. Other reported current causes are lower crude oil prices and lower gas consumption.
The cause of the lower prices is still part mystery, but as I said, gas prices could be taken as a positive for Trump whether any moves he has made has substantially contributed to that or not. People generally see a new President come into office, gas prices go down, and they associate that good news with something the president has done to help the issue (whether that's accurate or not). Just like how a lot of people blamed Biden for high gas prices.
Posted on 5/22/25 at 8:42 am to FriedEggBowL
quote:
No reason for on-road diesel to be as expensive as it is. It's the easiest thing to refine. And until diesel comes down, grocery prices aren't coming down.
This is what I don't understand. Why isn't the EPA going after the bullshite ultra low Sulphur processing that makes Road diesel so high? It's the #1 move that would tank inflation.
Posted on 5/22/25 at 8:49 am to Thecoz
quote:
So opening leases in gulf has not impacted either criteria..and in general it will take ten years from discovery to first production for those ultra deep water discoveries.
Biden literally signed (with the auto pen) an EO banning all O&G exploration in the Gulf.
So all those rigs are there courtesy of Trump.
Posted on 5/22/25 at 8:51 am to ragincajun03
quote:
Drilling had stopped on public lands?
But for a temporary injunction entered by the Western District, yes, it would have.
Posted on 5/22/25 at 8:59 am to Riverside
quote:
But for a temporary injunction entered by the Western District, yes, it would have.
I can tell you that from 2021-2025, there was never a legit concern amongst industry folks in the know that we were going to have to cease all D&C operations on Fed Lands in the Permian.
Yes, there were suits from NGOs trying to stop operations and trying to stop the BLM from issuing permits, but business continued as usual in reality.
Now…the Biden Dept of Interior did try to add additional red tape, and we saw approval timeframes for new Fed permits in the Permian region increase from about 8-12 months to about 18 or so, but approvals were still taking place.
Posted on 5/22/25 at 9:06 am to ragincajun03
If you trust the SC 100%, then your industry folks aren’t real bright. If Harris wins, those regulations were staying and the court cases may have been overturned. The nationwide injunction from Monroe certainly would have, as well. There are not many “public lands” open for drilling in the Monroe division’s jurisdiction to begin with.
Posted on 5/22/25 at 9:06 am to Riverside
quote:
Biden literally signed (with the auto pen) an EO banning all O&G exploration in the Gulf.
The EO did not include the entire Gulf of America.
quote:
Specifically, Biden’s executive action will ban new oil and gas leasing across 625 million acres of ocean along the entire East Coast, the eastern Gulf of Mexico, the coasts of Washington, Oregon and California, and portions of Alaska’s Northern Bering Sea.
Biden’s order would not affect the central and western parts of the Gulf of Mexico, where most US offshore drilling takes place.
LINK
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