03-03-2022, 10:29 PM
(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?
