Oil

[NATI BENGALS]

(03-03-2022, 09:18 PM)Stewy Wrote: I don't think anyone is lying, but I think the CNBC article author completely F'd the numbers, which were quoted correctly by the oilprice.com article.  What the CNBC article quoted made no statistical sense.  Comparing 1st year to 1st year and the same total percent over the same time makes INFINITELY more sense that the CNBC article that compared permits per month to Trumps total over 3 years.  I'll say the CNBC person just didn't know what they were talking about, but flailing away trying to sensationalize and make themselves sound smart.

Now....issuing drilling permits is not really a sign of the POTUS supporting or not supporting the industry.  It is a sign of increasing and stabilized oil prices, rig count and opportunities.  i can elaborate on this if you like, but basically trumps first year of 2017 was 2 years after the oil price crash.  1/3 of hte industry had been laid off, drilling budgets had been slashed by 50% industry wide, Oil Shales which made so much money at 100$, were losing money at 40$.  Companies were going bankrupt

The POTUS can issue temporary pauses on drilling "Like Obama during the Macondo incident", but federal law prohibits the POTUS from stopping all drilling and all leasing.  Again there can be pauses like now for permitting and lease sales, but they HAVE to come back, by federal law.  POTUS will drag their feet as much as possible of course saying they need to sort out some mess and get their ducks in a row, but leasing will return on federal lands and waters.

As for the drilling permit issue, the following is the best explanation I've seen for it.  Essentially Biden issuing more permits is less about catering to O&G but the fact that he dragged his feet early, but only allowing a 10 person committee in Washington examine and issue permits, which built up a huge backlog.  It was then turned back over to BoLM (Bureau of Land Management), which normally does the job.  The accelerated permitting because of the backlog and basically didn't stop, which lead to more approvals during the first year of Biden's Administration.  As the article says, there weren't more drilling permits submitted, just extra taken out of the back log as the BLm increased the efficiency of doing their job.

https://www.woodmac.com/news/opinion/the-us-government-speeds-up-drilling-permit-approvals/

So aside from the POTUS trying to be a pain in the ass in early 2021 by doing approvals in Washington, when the BLM was allowed to do their damn job, they accelerated approvals.  The funny thing is Biden caught hell for all the extra drilling permits, when all it was a backlog clean up.  He really has some shitty advisors.

So.....no one lied to you, but you read an article by someone who didn't know what they were writing about, screwed up some statistics and likely wouldn't have understood them if they had gotten it right.

Yes Biden is screwing with the industry as much as possible.
Yes NEW drilling permit applications have been down.
Yes more permits were approved during Biden's first year, but it was backlog clean up, not support of the industry.

What is important to realize is that the management of the BLM and Department of Interior changes with each administration, but the employees themselves are long term govt employees.  They support the industry, as it gives them jobs.  Thus it would not surprise me at all, if they purposely unloaded the backlog to thumb their noses at the POTUS.  Damn funny if you ask me considering Biden paid the political price for being a dick.

Couple things.

You said Trump took over 2 years after an oil price crash. And from the way it was written you are using that as an excuse to acknowledge Biden had more drilling permits issued than Trump in his first year.

Ok what about the oil price crash of 2020? Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat
https://www.eia.gov/todayinenergy/detail.php?id=46336
From my understanding that did plenty of damage to the oil industry on top of other natural disasters that hurt refining right before Biden took over. And prices crashed harder in that scenario than the one you give trump a pass for.

A year is a year. And a total is a total. If i make $60,000 annually I make less than if I make $100,000 annually. No matter how you put it. Trump never even had a BLM leader approved by the senate, I know he had some acting clown who wanted to sell the land. He also moved the headquarters out of DC resulting in a massive loss of workers. Either way Biden approved more drilling permits in his first year than trump did.

You say Biden is screwing with the industry? The entire direction of the country was to reduce our dependence on fossil fuels. I seem to remember a former POTUS inserting an Exxon executive as secretary of state and rolling back environmental regulations and moving us backwards. It's been acknowledged earlier in this thread that we can do renewables and greatly reduce our dependence on fossil fuels. That will never happen when one administration tries to advance our country forward and do what we all know is possible and another comes in and slams it in reverse. As far as I'm concerned our dependence on fossil fuels will continue as long as we have administrations come in and steer us directly towards fossil fuels. 


How many drilling permit applications is the Biden administration responsible for? I'd imagine zero. They come from industry I assume? So how is that a knock on Biden?

[Stewy]

(03-03-2022, 10:29 PM)NATI BENGALS Wrote: Couple things.

You said Trump took over 2 years after an oil price crash. And from the way it was written you are using that as an excuse to acknowledge Biden had more drilling permits issued than Trump in his first year.

Ok what about the oil price crash of 2020? Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat
https://www.eia.gov/todayinenergy/detail.php?id=46336
From my understanding that did plenty of damage to the oil industry on top of other natural disasters that hurt refining right before Biden took over. And prices crashed harder in that scenario than the one you give trump a pass for.

A year is a year. And a total is a total. If i make $60,000 annually I make less than if I make $100,000 annually. No matter how you put it. Trump never even had a BLM leader approved by the senate, I know he had some acting clown who wanted to sell the land. He also moved the headquarters out of DC resulting in a massive loss of workers. Either way Biden approved more drilling permits in his first year than trump did.

You say Biden is screwing with the industry? The entire direction of the country was to reduce our dependence on fossil fuels. I seem to remember a former POTUS inserting an Exxon executive as secretary of state and rolling back environmental regulations and moving us backwards. It's been acknowledged earlier in this thread that we can do renewables and greatly reduce our dependence on fossil fuels. That will never happen when one administration tries to advance our country forward and do what we all know is possible and another comes in and slams it in reverse. As far as I'm concerned our dependence on fossil fuels will continue as long as we have administrations come in and steer us directly towards fossil fuels. 


How many drilling permit applications is the Biden administration responsible for? I'd imagine zero. They come from industry I assume? So how is that a knock on Biden?

Firstly you are being far more defensive than my responses demand.

Secondly and I'm going to put this out there on the table....I hate Trump.  I think he is a criminal a misogynist, a hypocrite, a liar and thief and an all around criminal.  He is an embarrassment to the country.  I did NOT vote for Trump either time, but I did vote for Biden, because Trump is an insane narcissist.  Also I am a register Republican that is switching parties because the repub's have lost their way.  i do not vote for someone for my own gain.  I vote for what's best for the country and Trump needed to go, even if electing Biden has damaged my industry in the US.  I am attacking Biden for what he deserves being attacked about and pointing out his ignorance and hypocrisy, which has nothing to do with him being a Democrat and certainly nothing to do with Trump.

Thirdly, you highlighted one part of that paragraph and either didn't read or ignored the rest because your answer was in the very next sentence.  Let's read the whole thing, shall we?

Quote: i can elaborate on this if you like, but basically trumps first year of 2017 was 2 years after the oil price crash.  1/3 of hte industry had been laid off, drilling budgets had been slashed by 50% industry wide, Oil Shales which made so much money at 100$, were losing money at 40$.  Companies were going bankrupt

The stability of the industry matters.  And keep in mind in a following paragraph AND in the Woodmac article I linked, it clearly explained that the 35% growth was backlog acceleration, and in fact the number of NEW permits submitted had been less.  So Biden is basically taking a political beating for something he didn't do or deserve, because no one writing the articles got the actual facts straight except WoodMac.  And from looking through google, the POTUS never corrected the mis-information, which tells me.....ignorance.

2020 was not a crash.  it was a spike brought upon by statistical anomaly.  It literally lasted 1-2 days.  It might as well have not even happened.  It was flat considering before and after as you say, which means it was a spike, not a trend.  People, especially the press love to make a big deal out of it, but it was essentially nothing but a statistical blip.  Weird, but nothing.

Biden did nothing with permits.  The BLM did their jobs.  Period.  Neither Biden nor Trump are responsible for approving permits...they can take the responsibility, but that's just stupid.  Non-partisan lifelong govt employees do that job issues the permits unless the POTUS is interfering, which it did as long as it could before they were about to get sued for violating federal law, then they sent it back to the BLM.  Try to make Biden the hero if it makes you feel better, but I've proven that he had nothing to do with the higher numbers other than a rubber stamp applied by someone else.

Spin it however you like and float your rhetoric, but the facts aren't swayed.  The infrastructure, the auto industry, the power generation capacity and the energy producers (renewable and not) cannot flip a switch for Biden.  Changing the country and the world will require a plan, which leads to gentle transition, not abrupt change.  If anyone thinks differently then they just don't know jack.  Learn lessons from UK's big mistake or ignore them if you please.

To your last point which seems to be a repeat of a previous one....as I said before, which i guess you missed, I acknowledge that Biden isn't responsible for the drilling permits.  he did mess with the process by having 10 people without knowledge of the process approve them in DC for a couple months.  But companies do not submit permits to him.  So what?  Just because it is clearly not his fault doesn't mean i can't be amused he's taking an unjustified political beating for it.  If he and his advisors actually knew jack shyt about the O&G industry, they could have issued a statement which corrected the mis-information in the press, but they did not because they're ignorant.  If they would work with the industry instead of treating it like the enemy, then it would be better for the country as a whole.

FYI - in another version of story time, I'll share that Trump did more to damage the O&G industry during his tenure as POTUS than Biden could imagine.  

And BTW, I'm done responding to you.  You seem to want to make this about Biden vs. Trump, like every other thread in this forum, and I have no interest in that.  Feel free to respond, but I'm done with you.

[Bengalzona]

(03-03-2022, 11:50 PM)Stewy Wrote: You seem to want to make this about Biden vs. Trump, like every other thread in this forum, and I have no interest in that. 

Amen, brother.

The election was two years ago. And no one is beyond criticism.

[Stewy]

I want to say thank you for all the kind words, here in the thread and the little kudos when given rep.  It's all very appreciated and has made the time I've put into the posts rewarding.  

Thank you again.

[NATI BENGALS]

(03-03-2022, 05:51 PM)Sociopathicsteelerfan Wrote: Biden created this mess, and now he refuses to own it.

(03-03-2022, 11:50 PM)Stewy Wrote: Firstly you are being far more defensive than my responses demand.

Sorry coming across as defensive. Widely accepted misinformation is something I’m not fond of.

The thread started with the GOP got their way in 2015 and we began exporting oil produced here. Proceeded to you acknowledging the number of drilling permits approved was higher in 2021 than 2016 2017 and 2018.

But for the next 8 months I will have to listen to people parroting lies about Biden destroying our energy independence and how he is solely responsible for high gas prices. Which guess what, ends up getting the guy elected again who you say you will one day tell me how he did more damage to the industry Biden could imagine. It’s incredibly frustrating.

[Sociopathicsteelerfan]

(03-04-2022, 11:16 AM)NATI BENGALS Wrote: Sorry coming across as defensive. Widely accepted misinformation is something I’m not fond of.

The thread started with the GOP got their way in 2015 and we began exporting oil produced here. Proceeded to you acknowledging the number of drilling permits approved was higher in 2021 than 2016 2017 and 2018.

But for the next 8 months I will have to listen to people parroting lies about Biden destroying our energy independence and how he is solely responsible for high gas prices. Which guess what, ends up getting the guy elected again who you say you will one day tell me how he did more damage to the industry Biden could imagine. It’s incredibly frustrating.

Sometimes we find the truth unpalatable, it doesn't stop it from being the truth.  I don't think you fully understand what Stewy said in this thread, but I will leave you with a couple of questions that, if you choose to respond, I would like you to answer.

Is US oil production down under Biden?

and

Why did Biden recently release oil from the reserves and beg the Saudi's to pump more oil?

[Stewy]

(03-04-2022, 11:16 AM)NATI BENGALS Wrote: #1 - Sorry coming across as defensive. Widely accepted misinformation is something I’m not fond of.

#2 - The thread started with the GOP got their way in 2015 and we began exporting oil produced here. Proceeded to you acknowledging the number of drilling permits approved was higher in 2021 than 2016 2017 and 2018.

#3 - But for the next 8 months I will have to listen to people parroting lies about Biden destroying our energy independence and how he is solely responsible for high gas prices. Which guess what, ends up getting the guy elected again who you say you will one day tell me how he did more damage to the industry Biden could imagine. It’s incredibly frustrating.

Ok so I decided to respond.

#1 - No worries.  Don't blame you.  Politics are hell.

#2 - Sure the permits were higher in 2021 - fact.  NEW permits were down - fact.  There was a 5,000 permit back log that the BLM decided to accelerate - fact.  Biden gets blamed for being hypocritical, when the BLM was just doing their job (fact) and it had nothing (likely) to do with him - opinion.  It's frustrating for you to know the truth and Biden is still getting slammed (right?).  I understand, but I'm just giving information.  I am not responsible for the ignorance of Biden and his advisors to the facts of the situation, which if they educated themselves they could easily clear up with two graphs and two sentences.   *shrugs*  At least you're now better informed than the POTUS.

#3 - That's politics.  But you're assuming these prices are here to stay, and I wouldn't if I were you.  I hope you and everyone else have gotten an appreciation for the volatility of the market and the entirely separate short term (spikes - non permanent changes) and long term (sustained ramps and crashes which reset baseline prices) influences.  But the reality is that the POTUS always gets blamed for high prices, regardless of party, Dem's just much more because of the nature of their political goals and directions.  But just to be clear......the high oil prices are NOT Biden's fault, and there is nothing he can do about it.  Period.  But he's going to get blamed because your common voter is an ignorant twit who knows less about the O&G industry than my cat.....and I don't even have a cat.

Lastly....I wouldn't worry about Trump in 2024.  He's going to be buried (politically) or in jail (highly likely).  Imagine this during the 2024 primaries.....images of Putin smiling and standing over dead Ukrainian children, bombed out schools, hospitals, old folks homes, bridges, parks, etc and with every image is Trump being flashed on saying "He's a genius"  "He's a great man".....over and over....every channel in every state.  It's coming if he runs and it will destroy him if he isn't buried already.  The Repub's are going to win the white house though as things stand now.

Anyway....  /cheers!

[NATI BENGALS]

(03-04-2022, 12:52 PM)Sociopathicsteelerfan Wrote: Sometimes we find the truth unpalatable, it doesn't stop it from being the truth.  I don't think you fully understand what Stewy said in this thread, but I will leave you with a couple of questions that, if you choose to respond, I would like you to answer.

Is US oil production down under Biden?

and

Why did Biden recently release oil from the reserves and beg the Saudi's to pump more oil?

Yes.

and

Oil prices are hammering Americans.

[Sociopathicsteelerfan]

(03-04-2022, 07:58 PM)NATI BENGALS Wrote: Yes.

and

Oil prices are hammering Americans.

First off, I very much appreciate your answering the questions instead of dodging as many do, so major credit to you.  Secondly, your own answers should tell you why anyone would blame Biden for at least a significant share of the reason for the rise in gas prices.  As Stewy rightfully points out, the POTUS has limited ability to affect gas prices in the short term, the vagaries of the market being what they are.  Given that the price of oil, like every commodity, is also driven by speculation, the actions by Biden, again as described by Stewy, are going to drive prices up.  If you're a speculator and looking to make a profit you adhere to the common sense maxim of buy low and sell high.  When a POTUS deliberately inhibits future production, again as Stewy perfectly illustrated, they are inevitably going to drive up prices as people attempt to buy low so they can sell high.

Biden is doing the right thing in regards to Russia, and the rise in prices brought on by the conflict cannot, largely, be laid at his doorstep.  That being said, much of the rest of the rise, both prior to the war and subsequent, has Biden's fingerprints all over it, for reasons already illustrated.  Whether that helps Trump or not is irrelevant to the fact that it's true.

[Stewy]

Relevant to a previous part of our discussion where I mentioned UK F'd up this winter by shutting down all coal power plants with no contingency if their renewables cannot be sustained.....which they didn't as they had a wind drought for months, and had to revert again to coal. Well the House of Lords today put out a report that "The UK has No credible Plan for it's Energy Transition". All the UK govt has done is to make 2035 and 2050 commitments with no plan.....so their solution was.....to tax the people.....still with no plan.

https://oilprice.com/Latest-Energy-News/World-News/The-UK-Has-No-Credible-Plan-for-Its-Energy-Transition-Report.html

I'm for carbon neutral. I'm for the environment. I am for the energy transition because it HAS to come, but GD it you can't wave a wand and make it happen. You have to have a plan, and it needs to be a TRUE transition, not a leap off a cliff with no knowledge of a safety net underneath.

Anyway.....thought I'd share.

[NATI BENGALS]

(03-04-2022, 08:27 PM)Sociopathicsteelerfan Wrote: First off, I very much appreciate your answering the questions instead of dodging as many do, so major credit to you.  Secondly, your own answers should tell you why anyone would blame Biden for at least a significant share of the reason for the rise in gas prices.  As Stewy rightfully points out, the POTUS has limited ability to affect gas prices in the short term, the vagaries of the market being what they are.  Given that the price of oil, like every commodity, is also driven by speculation, the actions by Biden, again as described by Stewy, are going to drive prices up.  If you're a speculator and looking to make a profit you adhere to the common sense maxim of buy low and sell high.  When a POTUS deliberately inhibits future production, again as Stewy perfectly illustrated, they are inevitably going to drive up prices as people attempt to buy low so they can sell high.

Biden is doing the right thing in regards to Russia, and the rise in prices brought on by the conflict cannot, largely, be laid at his doorstep.  That being said, much of the rest of the rise, both prior to the war and subsequent, has Biden's fingerprints all over it, for reasons already illustrated.  Whether that helps Trump or not is irrelevant to the fact that it's true.

Where are you getting this from?

[NATI BENGALS]

Another thing other than all the wells Biden personally capped which could contribute to higher oil prices and less oil production is activist investors. Capitalism.

https://www.cnbc.com/2021/05/26/engine-no-1-gets-at-least-2-candidates-elected-to-exxons-board-in-win-for-the-activist.html

https://www.cnbc.com/2021/10/28/shell-vs-activist-dan-loeb-is-bigger-for-big-oil-than-exxon-board-war.html

A pandemic, the great resignation, and the fact oil prices turned negative for the first time in history in 2020 probably has something to do with why oil companies are not producing more oil. But the more logical approach is to say Biden is solely responsible I watched him cap a well by my house.

[Stewy]

(03-04-2022, 08:50 PM)NATI BENGALS Wrote: Where are you getting this from?

https://biologicaldiversity.org/w/news/press-releases/biden-administration-cancels-offshore-oil-lease-sale-in-gulf-of-mexico-2021-02-12/

[NATI BENGALS]

(03-04-2022, 08:59 PM)Stewy Wrote: https://biologicaldiversity.org/w/news/press-releases/biden-administration-cancels-offshore-oil-lease-sale-in-gulf-of-mexico-2021-02-12/

From the one you linked "The Trump administration held eight offshore lease sales during its term, including six in the Gulf of Mexico of more than 75 million acres each — the largest oil lease sales in U.S. history. Of the nearly 517 million acres offered to the oil industry during those sales, the industry leased only about 4.6 million acres, mostly in the Gulf." If I came in and took over after a guy who bankrupts a bunch of businesses. I would want to review any sales I could. I mean Tillerson was an oil executive and the other guy...

https://www.cnbc.com/2021/11/17/us-holds-oil-and-gas-lease-sale-in-gulf-of-mexico-after-cop26.html

[Stewy]

(03-04-2022, 08:59 PM)NATI BENGALS Wrote: Another thing other than all the wells Biden personally capped which could contribute to higher oil prices and less oil production is activist investors. Capitalism.

https://www.cnbc.com/2021/05/26/engine-no-1-gets-at-least-2-candidates-elected-to-exxons-board-in-win-for-the-activist.html

https://www.cnbc.com/2021/10/28/shell-vs-activist-dan-loeb-is-bigger-for-big-oil-than-exxon-board-war.html

A pandemic, the great resignation, and the fact oil prices turned negative for the first time in history in 2020 probably has something to do with why oil companies are not producing more oil. But the more logical approach is to say Biden is solely responsible I watched him cap a well by my house.

Well I did mention in my post above

Quote: 1/3 of the industry had been laid off, drilling budgets had been slashed by 50% industry wide, Oil Shales which made so much money at 100$, were losing money at 40$.  Companies were going bankrupt

Oil companies are in the business of making money, through providing energy.  When things are bad, investment drops, plans are paused, belts are tightened, etc.  I am sure you are not advocating that companies should run at a loss?  

And I say again the negative spike was NOTHING.  It did not hurt the oil companies, it hurt a few speculators.  You really need to step back from the ledge on that negative spike.  It's obsessing you, when it was meaningless.

I'm not responding to the Biden stuff as i do not blame him for the current higher oil prices.  Five years from now when we're dealing with 200$ oil, then I will blame his current actions.

[Sociopathicsteelerfan]

(03-04-2022, 08:50 PM)NATI BENGALS Wrote: Where are you getting this from?

From reading what Stewy actually posted, among other sources.

(03-04-2022, 08:59 PM)Stewy Wrote: https://biologicaldiversity.org/w/news/press-releases/biden-administration-cancels-offshore-oil-lease-sale-in-gulf-of-mexico-2021-02-12/

And this as well.

[Stewy]

(03-04-2022, 09:06 PM)NATI BENGALS Wrote: https://www.cnbc.com/2021/11/17/us-holds-oil-and-gas-lease-sale-in-gulf-of-mexico-after-cop26.html

What's your point?  I didn't say he canceled all lease sales.  You asked for elaboration and I proved evidence.  The fact that a lease sale was held was not because Biden allowed it, it was because the Gulf Coast States sued the administration and a Federal Judge forced it.  

https://www.reuters.com/business/energy/us-says-taking-steps-restart-oil-gas-leasing-2021-08-25/
Note:  This was ordered by a Federal Judge.  Biden was acting in bad faith by postponing lease sales indefinitely for "environmental studies", then not engaging with the industry to tighten regulations, and change rules.  He essentially postponed and walked away under the guise of "need to study".  His Dpt of Interior has shown no progress, and shown no documents and proposed no new regulations.  It was just pause and forget it, which is why they lost their case in Federal court.

You really need to stop arguing with me.  I can out link you, and provide links from credible sources not massive liberal bias sites like CNBC that provide partial information to provoke the lemming masses.

[NATI BENGALS]

(03-04-2022, 09:07 PM)Stewy Wrote: Well I did mention in my post above
Oil companies are in the business of making money, through providing energy.  When things are bad, investment drops, plans are paused, belts are tightened, etc.  I am sure you are not advocating that companies should run at a loss?  

And I say again the negative spike was NOTHING.  It did not hurt the oil companies, it hurt a few speculators.  You really need to step back from the ledge on that negative spike.  It's obsessing you, when it was meaningless.

I'm not responding to the Biden stuff as i do not blame him for the current higher oil prices.  Five years from now when we're dealing with 200$ oil, then I will blame his current actions.

The earnings statements of a lot of the major oil companies disagree about 2020. A lot of financial analyst stuff I have read says it was a real spook for oil companies juggling pandemic uncertainty and it led to a decrease in companies spending capital to increase production.

https://www.reuters.com/article/us-usa-oil-exxon-chevron-graphic/exxon-chevron-take-a-slow-walk-on-the-path-to-u-s-shale-recovery-idUSKBN2BL0G8

"We essentially hit a pause button," said Chevron Chief Financial Officer Pierre Breber. "When the world was oversupplied we didn't see the virtue in putting more capital to add barrels."

"Chevron will increase Permian spending from $2 billion now to pre-Covid levels of $4 billion annually “over the course of the next several years,” Breber said, but the company will not increase drilling in the Permian this year. It is currently running about five rigs in the Permian with two completion crews, down from just under 20 a year ago."

[NATI BENGALS]

(03-04-2022, 09:14 PM)Stewy Wrote: What's your point?  I didn't say he canceled all lease sales.  You asked for elaboration and I proved evidence.  The fact that a lease sale was held was not because Biden allowed it, it was because the Gulf Coast States sued the administration and a Federal Judge forced it.  

https://www.reuters.com/business/energy/us-says-taking-steps-restart-oil-gas-leasing-2021-08-25/
Note:  This was ordered by a Federal Judge.  Biden was acting in bad faith by postponing lease sales indefinitely for "environmental studies", then not engaging with the industry to tighten regulations, and change rules.  He essentially postponed and walked away under the guise of "need to study".  His Dpt of Interior has shown no progress, and shown no documents and proposed no new regulations.  It was just pause and forget it, which is why they lost their case in Federal court.

You really need to stop arguing with me.  I can out link you, and provide links from credible sources not massive liberal bias sites like CNBC that provide partial information to provoke the lemming masses.

Yea it got paused again too.
https://www.cnbc.com/2022/02/24/biden-administration-pausing-new-oil-and-gas-leases-amid-legal-battle-.html

If we are not even producing what we can from where we were before the pandemic. I have a hard time being mad about reviewing risks of offshore drilling.

And I wouldn't call CNBC a liberal bias site. Maybe a investor misinformation producer.
https://adfontesmedia.com/interactive-media-bias-chart/?utm_source=HomePage_IMBC_Video_Clip&utm_medium=OnWebSite_Link_and_Button

[GMDino]

I was reading yesterday that many of the permits that have been allowed are not be used.  I'm sure there is a myriad of reasons for that.

Also saw a chart saying we aren't even close to the highest prices adjusted for inflation.