re: Uncle Joe removes more gas and oil capacity from America

LINKhow’s this one?
LINK Or this one? I can put up 1000 links and they all say the same thing!

Look, it's simple.

If we aren't buying lots of foreign oil, how the hell are Joe and the rest of the criminals in DC supposed to get kickbacks and bribes from foreign countries?

Think about our politicians. They aren't stupid. They're just counting on half of the country being fools. It's a good bet.

Drilling rigs actively drilling oil wells.

Anyone in Louisiana and Texas should understand the importance of rig count. Still 1/3 of what it was in early 2014 before the price collapsed to below $80 per barrel and many, if not most indie oil companies were forced into bankruptcy.

Rig count is up over 150 active drilling rigs from a year ago, and it is all due to price of a barrel of oil, nothing more and nothing less.

Oil is rebounding as demand is predicted to outstrip supply for the first time in 5 years.
Demand is also predicted to exceed the amount that it was before the pandemic Began.

That has to be be heartbreaking for the environmentalists

You should expect that he is going to throw a wrench into the oil and gas business. That's what democrats do when they are elected. If a republican manages to get elected again and the senate and house flip GOP then the ANWR will be opened again.

Curious...
What state are your west friends in
Federal parks??? Which ones ??

One last comment...there are small operators that make a living “busting units” ...they find small tracts of minerals in known areas and lease them and drop a well in (feds require set feet from edge of lease to place the well...sorta recall 220 feet...???... if your friend can find a unit buster and the offset distance keeps him in the known production he may still be able to capture his resources(and others based on what some of these guys do)

quote:

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If no oil company wants to drill because his part of the unit is not enough resource then it is just economics

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These days operators are wanting to drill 1.5 to 2.5 mile laterals. If he's only got say...a 320 rectangle, then that's only half a mile lateral at the most.

There has been a pause on new federal lease sales, so maybe the Fed tract adjacent to him that the operator of his mineral lease needs just isn't able to bid and acquire right now.

That does suck; however, the pausing of lease sales AT THIS TIME is not going to cause a shortage of production and a huge runup in oil prices and gasoline prices. There in more than enough already leased lands and permitted or soon to be permitted wells to drive the price per barrel down to $20 for the time being if operators wanted to piss away capital. That's just not going to happen.

How if that pause carries on for multiple years and there is a hard halt on new permits and ROWs through Fed Lands, then that could definitely lead to a shortage of inventory and production. Permian, Powder River and DJ all contain a pretty significant percentage of Fed lands.

The world is going to use x amount of oil tomorrow and for the foreseeable future. These stupid arse motherfrickers want to “put the cart in front of the horse” so fast with the green energy…and it’s not even close to being able to handle it. Running of a cliff yelling I can fly!!!!