Biden Cancels Alaska Oil/Gas Leases

[Luvnit2]

How will this help our struggling economy and high gas and oil Prices?

https://www.foxnews.com/politics/biden-admin-axe-alaska-oil-gas-leases-backed-state-lawmakers-native-americans
Biden admin abruptly axes Alaska oil and gas leases backed by state lawmakers, Native Americans
Alaska state agency to challenge federal action in court, conduct discovery of top Biden admin officials


The Biden administration canceled several oil and gas leases issued in early 2021 to an Alaskan state economic development agency, it announced Wednesday.

The Department of the Interior (DOI) rescinded the seven 10-year leases — spanning 365,775 acres in the Arctic National Wildlife Refuge (ANWR) — held by the Alaska Industrial Development and Export Authority (AIDEA) and supported by a wide range of stakeholders, including lawmakers and Native Alaskans. The leases were issued by the Trump administration in one of its final actions.
"Having just spent more than a month home in communities across our state, there is palpable anger and frustration among Alaskans about the Biden administration’s unrelenting assault on our economy and our ability to lawfully access our lands," Sen. Dan Sullivan, R-Alaska, told Fox News Digital in a statement Wednesday.

"This war on Alaska is devastating for not only Alaska but also the energy security of the nation," Sullivan said. "This unlawful cancelation of AIDEA’s ANWR leases today now brings us to 55 executive orders and actions specifically targeting Alaska since President Biden assumed office."

Sullivan added that the Biden administration's actions targeting energy production in his state would have a chilling effect on future investment.

[Arturo Bandini]

Good ! At least one man of 70 years who cares about the world he will leave to the kids.

[Mike M (the other one)]

(09-06-2023, 05:31 PM)Arturo Bandini Wrote: Good ! At least one man of 70 years who cares about the world he will leave to the kids.

Who cares if they are poor right? Probably couldn't afford the electric bills anyways

[*Nately120*]

(09-06-2023, 06:36 PM)Mike M (the other one) Wrote: Who cares if they are poor right? Probably couldn't afford the electric bills anyways

Being poor will teach them to work hard and make their own way in the world.  Not all of us are deadset on handing our kids the world on a silver platter.

[Arturo Bandini]

(09-06-2023, 06:44 PM)Nately120 Wrote: Being poor will teach them to work hard and make their own way in the world.  Not all of us are deadset on handing our kids the world on a silver platter.

Exactly. 

When you are poor, it is frakking useless to play the victim and claim anything against you was rigged. Noone listens.

You go to work. You find solutions not excuses.

[*Synric*]

(09-06-2023, 06:44 PM)Nately120 Wrote: Being poor will teach them to work hard and make their own way in the world.  Not all of us are deadset on handing our kids the world on a silver platter.

If that was the case there would be no poor people. Parents teach work ethics being poor doesn't teach you anything except maybe how to light your cigarette with a toaster and a peice of raw spaghetti.

[Arturo Bandini]

Suddenly same people who are totally opposed to student loan forgiveness want the youth to be wealthy ..

It's hard to follow to be honest.

[*Synric*]

(09-06-2023, 08:46 PM)Arturo Bandini Wrote: Suddenly same people who are totally opposed to student loan forgiveness want the youth to be wealthy ..

It's hard to follow to be honest.

Lol how is me saying being poor does not teaching work ethic also saying I'm opposed to student loan forgiveness? There are generations of poor people that have zero work ethics and plenty of well to do families that children go on to be a success. Work ethics are taught by the parents by being hard working it has nothing to do with how much money they make.

[NATI BENGALS]

I used to be all about using up other countries natural resources before using up our own. And I still prefer that concept.

We are producing oil at a record pace. Without needing to dig up this wildlife refuge in Alaska.

I wonder what would happen to the price of gas in this country is we hadn’t almost doubled our oil exports since 2015?

[BigPapaKain]

(09-06-2023, 09:09 PM)NATI BENGALS Wrote: I used to be all about using up other countries natural resources before using up our own. And I still prefer that concept.

We are producing oil at a record pace. Without needing to dig up this  wildlife refuge in Alaska.

I wonder what would happen to the price of gas in this country is we hadn’t almost doubled our oil exports since 2015?

Probably next to nothing since America doesn't control the price of oil or gasoline.

[basballguy]

lots of comments, none of them with substance....everyone seems to be about doing fly by zingers.

What's the actual impact of this cancellation?  Had AIDEA actually even begun excavating oil?  Have jobs been created yet?

Alaska doesn't exactly have the greatest economy....the job market is pretty thin and the cost of living is a tad bit ridiculous considering the wages don't line up.  Though I doubt many of these jobs would've been filled by local talent.  

This is one of those things that's probably good for the environment but awful for the local communities that would've benefited from it.  

From AIDEA's website (it's mission):  

Quote:To promote, develop, and advance economic growth and diversification in Alaska by providing various means of financing and investment.

So now what?  Will leases be issued in different areas?  I know about nothing on this.  

This project was going to add ~750 jobs to an area that that has a population of maybe 15k across a 10-20M square miles?  And (in theory) provide relief to the cost of oil domestically?  

It'd be nice to know what the plan is going forward other than (we must save the ice and 6 penguins in this sparsely populated area of the world!)  

[NATI BENGALS]

(09-06-2023, 09:52 PM)BigPapaKain Wrote: Probably next to nothing since America doesn't control the price of oil or gasoline.

No, but supply and demand does.

If we are exporting oil. That means less supply here. And less supply means higher prices. At least that’s how I picture it.

OPEC+ cut production to keep prices high. I’d imagine because we have become the largest oil producer and other countries have also increased their production.

[KillerGoose]

(09-06-2023, 10:04 PM)basballguy Wrote: lots of comments, none of them with substance....everyone seems to be about doing fly by zingers.

What's the actual impact of this cancellation?  Had AIDEA actually even begun excavating oil?  Have jobs been created yet?

Alaska doesn't exactly have the greatest economy....the job market is pretty thin and the cost of living is a tad bit ridiculous considering the wages don't line up.  Though I doubt many of these jobs would've been filled by local talent.  

This is one of those things that's probably good for the environment but awful for the local communities that would've benefited from it.  

From AIDEA's website (it's mission):  





So now what?  Will leases be issued in different areas?  I know about nothing on this.  

This project was going to add ~750 jobs to an area that that has a population of maybe 15k across a 10-20M square miles?  And (in theory) provide relief to the cost of oil domestically?  

It'd be nice to know what the plan is going forward other than (we must save the ice and 6 penguins in this sparsely populated area of the world!)  

It won't have any affect on the economy. There hasn't been any drilling or excavation on these leases and it likely would have been years, close to a decade, before anything came of this. Also, the Biden administration approved a very large drilling project in this area back in March, called the Willow Project. That is likely on the same timeline, several years/perhaps a decade before that oil reaches the market, but it will generate 1000+ jobs and produce 150k-200k BBL of oil per day. I think the effect of this is going to be minimal in the coming years, personally. Stewy would be the resident expert on this, though, and perhaps he would have a different opinion. 

[Mike M (the other one)]

(09-06-2023, 11:16 PM)KillerGoose Wrote: It won't have any affect on the economy. There hasn't been any drilling or excavation on these leases and it likely would have been years, close to a decade, before anything came of this. Also, the Biden administration approved a very large drilling project in this area back in March, called the Willow Project. That is likely on the same timeline, several years/perhaps a decade before that oil reaches the market, but it will generate 1000+ jobs and produce 150k-200k BBL of oil per day. I think the effect of this is going to be minimal in the coming years, personally. Stewy would be the resident expert on this, though, and perhaps he would have a different opinion. 

Biden didn't want to green light the Willow project either. 
Trump authorized that back in 2020 for 5 oil pads, Biden reduced it to 3. 
He couldn't kill it completely because the Fed would have been hit with some heavy fines and legal action from ConocoPhillips.

[BigPapaKain]

(09-06-2023, 11:08 PM)NATI BENGALS Wrote: No, but supply and demand does.

If we are exporting oil. That means less supply here. And less supply means higher prices. At least that’s how I picture it.

OPEC+ cut production to keep prices high. I’d imagine because we have become the largest oil producer and other countries have also increased their production.

If we're exporting it and OPEC is cutting production despite having more than enough oil so they can inflate prices, than my point stands.

Fwiw, I'm simply saying that greedy people would have been just as greedy whether America is the largest exporter of crude or not. The cost of a barrel may go down, but that doesn't do anything for the poor sods on the ground like us if nobody is refining it - or - refining it at a lower pace to keep demand high. 

[KillerGoose]

(09-07-2023, 01:20 AM)Mike M (the other one) Wrote: Biden didn't want to green light the Willow project either. 
Trump authorized that back in 2020 for 5 oil pads, Biden reduced it to 3. 
He couldn't kill it completely because the Fed would have been hit with some heavy fines and legal action from ConocoPhillips.

Yes, to be clear I wasn't saying that as a way of saying "Go Biden!". I was just pointing out that the project had been approved and was in the same general area. 

[Mike M (the other one)]

(09-07-2023, 10:16 AM)KillerGoose Wrote: Yes, to be clear I wasn't saying that as a way of saying "Go Biden!". I was just pointing out that the project had been approved and was in the same general area. 

He's banking on Environmentalist groups to keep them tied up in litigation.

[HarleyDog]

(09-06-2023, 09:52 PM)BigPapaKain Wrote: Probably next to nothing since America doesn't control the price of oil or gasoline.

Not entirely true. America has an effect on prices. Our demand and our production are not ignored.

[Luvnit2]

https://www.foxnews.com/politics/manchin-torch-biden-banning-oil-drilling-across-millions-acres-assault-economy

Looks like liberals are not happy with Biden decision.

Manchin, others torch Biden for banning oil drilling across millions of acres: 'assault on our economy'
'Today’s decision rewards our adversaries and hurts American families,' says GOP Sen John Barrasso

"I can’t explain to the American people why we would willingly become more dependent on foreign oil imports, eliminate good paying American jobs and drive up the cost of our electric bills and gas prices across the country," Sen. Joe Manchin, D-W.Va., said. "This is yet another example of this administration caving to the radical left with no regard for clear direction from Congress or American energy security."

"Let’s be clear — this is another attempt to use executive action to circumvent a law to accomplish what this administration does not have the votes to achieve in Congress," he added. "Canceling valid leases, removing acreage from future sales, and attempting to reduce production in Alaska while taking steps to allow Iran and Venezuela to produce more oil — with fewer environmental regulations — makes no sense and is frankly embarrassing."

According to AIDEA, the non-wilderness section of the ANWR where its leases are located contains approximately 7.6 billion barrels of recoverable oil and 7 trillion cubic feet of natural gas. The agency said a large share of economic development and jobs supported across Alaska’s indigenous and rural North Slope communities are related to oil and gas development.

Taxes on oil and gas activities in Alaska also provide key funding for communities statewide and for government services, schools, housing, health care and emergency services.

[LSUfaninTN]

(09-06-2023, 05:31 PM)Arturo Bandini Wrote: Good ! At least one man of 70 years who cares about the world he will leave to the kids.

Yeah… shutting down oil in the US is going to save the world. Let’s decimate the economy so that Russia and China can work their way up… I can’t wait for my grand kids to grow up in a world run by the Chinese. Between AI, interest rates, the US dollar crumbling, prices going up on everything, I don’t even want to know what kids are going to be faced with in 70 years. Why make life even harder than it already is for the future generations who won’t be able to afford anything anyway in this mythical paradise you think will come up because we use a few hundred thousand barrels of oil less a day. Oil is one of, if not THE primary reason this country has the status it has. His kids are going to be the ones sneaking across the border to Mexico if we castrate ourselves by going green.

Unless we go nuclear, there is no other way but oil. You can’t store wind or solar, and it’s not dependable even if you could, so it will always be backed up with natural gas on the west coast and coal on the east coast. Good luck getting China, India, and Russia, who contribute half of the world’s carbon emissions, to listen to Greta Thunberg.