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1. Her persistent parroting of White House/DNC talking points claiming that unexplored past leases indicate that new leases are not needed/unimportant. When much of the problem is Biden has done just about everything he can to make sure permits are not issued on past leases.
2. The bogus claim that producers are not drilling to make up for past loses. That's simply not what is happening if team Biden provided some reasonable assurance that the .gov would not cut the industry off at the knees all the bigs would be exploring like crazy to make up for those past losses given current high prices. What they can't do is absorb even more losses drilling right now only to be screwed over by Biden next year or whenever prices soften.
1. Her persistent parroting of White House/DNC talking points claiming that unexplored past leases indicate that new leases are not needed/unimportant. When much of the problem is Biden has done just about everything he can to make sure permits are not issued on past leases.
2. The bogus claim that producers are not drilling to make up for past loses. That's simply not what is happening if team Biden provided some reasonable assurance that the .gov would not cut the industry off at the knees all the bigs would be exploring like crazy to make up for those past losses given current high prices. What they can't do is absorb even more losses drilling right now only to be screwed over by Biden next year or whenever prices soften.
#1 - is irrelevant to the question asked.
#2 - Stands in opposition to the public quotes of more than one oil executive.
From a year ago:
...“Years ago they drilled like crazy and made no money,” Lipow said. “This time around they need to show returns to inventors and they’re increasing their dividends” instead of sending more rigs to the oil fields...
#2 - Stands in opposition to the public quotes of more than one oil executive.
From a year ago:
...“Years ago they drilled like crazy and made no money,” Lipow said. “This time around they need to show returns to inventors and they’re increasing their dividends” instead of sending more rigs to the oil fields...
Biden has blamed the Oil Companies, fuel transporters, Trump, Saudi Arabia, Putin, and gas station owners for high gas prices. His administration has told people that they need to spend 50K on a new EV to avoid high gas prices.
And NOW he says we need more oil production...
Here is what he doesn't get. Oil companies have no incentives to increase production. As he has stated on many occasions that he will put them out of business. Right now I am sure the Oil industry will give him the same treatment the Saudis did with a big fat Single(and very specific) finger.
If he wants oil companies to increase production. Stop enacting legislation, creating Executive Orders, and making statements that are intended to shut down their industry.
Well, for a change the idiot's right; we must in order to maintain our standard of living during global economic re-alignment.
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