Pres Biden must think that we're all stupid and haven't been living in this (self inflicted) disaster that he created in regards to oil. No sir, we choose to live in reality and not in your delusions. During the final Presidential debate you pledged - not only to tax and end subsidies to one of America’s leading industries, but to preside over its demise! As people go to the gas pump, I hope they remember your words.
The impact of your pledge and policies to upend the oil industry is coming to fruition. However, now, you,“ Pres” Biden are attempting to blame everyone - Putin and major oil companies, and everything except yourself. You also promised not to give no new leases for drilling on federal lands.
Nowadays you attempt to blame the oil companies for not drilling on existing leases. Pres Sec Jen Psaki keeps saying that oil prices are going up because oil companies aren't drilling on the roughly 9100 existing leases. YES, technically there are ~9100 oil leases that are not being explored. However, that statement is not grounded in a reality that will solve the problem.
Here are some things that those of us living in reality consider:
- How many of those 9100 leases are off-shore? Additionally, it's unknown if there's oil in those leases.
- The 2020 oil bust is still fresh on Oil Execs minds; the early days of the pandemic drove oil briefly to negative pricing, resulting in a spate of bankruptcies across the industry.
- The anti fossil fuel tone set early in the Administration EOs;1400 & 13990
- YOUR climate plan that includes goals to transition from fossil fuels to clean energy, cut emissions from electric power to zero by 2035. Who in their right mind would make a capital expenditure into new wells?
- Keystone, that thing YOU shutdown. Less we forget here was the purpose of Keystone - "The idea was to take our high grade condensates and oils from Texas and pump them up to Canada, and then mix it with their tar sand oil. Then bring it back down to Houston and you'd have a product that our refiners could use and process," [said Taylor].
- Shortage of workers: is the oil industry immune from shortage of workers?
- Equipment shortage: oil companies are having trouble sourcing some of the equipment they would need to ramp up production, including pipes and specialized sand used in fracking to extract shale oil.
So your (Biden) solution after strangling our in house resources and slapping our oil partner to the North, Canada, in the face is to ask countries NOT friendly to the USA such as Venezuela and Iran to increase oil production. Go figure – a government solution to a government created problem.
Has anyone informed the President of the following facts.
- International Markets/Inventories determine the price of a barrel of oil. Imagine if only we had remained energy independent, a net exporter.
- Oil companies don't own the gas stations; they are independently owned.
- If he, his administration, is that worried about the price consumers pay at the pump they could work to lower the federal tax on gasoline. [limit it to year or so]
Until things get resolved we wont be fooled or distracted we all know when we go to the pump that it's BIDEN'S OIL PRICES