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The Oil and Gas president back at it again


BOHICA

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Can’t really think of a president that has been more oil and gas friendly as the current guy.  

More and more oil leases available.  But will they drill it or will the private company’s just sit on it like they do with the thousand upon thousands of leases they don’t drill on.

https://www.federalregister.gov/documents/2022/11/29/2022-25794/cook-inlet-planning-area-outer-continental-shelf-oil-and-gas-lease-sale-258

In compliance with the Inflation Reduction Act of 2022 (IRA), the Bureau of Ocean Energy Management (BOEM) today announced it will offer approximately 958,202 acres off Alaska’s southcentral coast in a lease sale scheduled for Dec. 30, 2022. The IRA directed BOEM to hold the sale by Dec. 31, 2022.

 

On Friday, December 30, 2022, the Bureau of Ocean Energy Management (BOEM) will open and publicly announce bids received for blocks offered in the Cook Inlet Planning Area Outer Continental Shelf (OCS) Oil and Gas Lease Sale 258 (Cook Inlet Sale 258), in accordance with the provisions of the Outer Continental Shelf Lands Act (OCSLA), as amended, and its implementing regulations

 

 

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  • Gold Member
1 hour ago, BOHICA said:

Can’t really think of a president that has been more oil and gas friendly as the current guy.  

More and more oil leases available.  But will they drill it or will the private company’s just sit on it like they do with the thousand upon thousands of leases they don’t drill on.

https://www.federalregister.gov/documents/2022/11/29/2022-25794/cook-inlet-planning-area-outer-continental-shelf-oil-and-gas-lease-sale-258

In compliance with the Inflation Reduction Act of 2022 (IRA), the Bureau of Ocean Energy Management (BOEM) today announced it will offer approximately 958,202 acres off Alaska’s southcentral coast in a lease sale scheduled for Dec. 30, 2022. The IRA directed BOEM to hold the sale by Dec. 31, 2022.

 

On Friday, December 30, 2022, the Bureau of Ocean Energy Management (BOEM) will open and publicly announce bids received for blocks offered in the Cook Inlet Planning Area Outer Continental Shelf (OCS) Oil and Gas Lease Sale 258 (Cook Inlet Sale 258), in accordance with the provisions of the Outer Continental Shelf Lands Act (OCSLA), as amended, and its implementing regulations

 

 

Dem's are good at disguising their big oil interests... 

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1 hour ago, BOHICA said:

Can’t really think of a president that has been more oil and gas friendly as the current guy.  

More and more oil leases available.  But will they drill it or will the private company’s just sit on it like they do with the thousand upon thousands of leases they don’t drill on.

https://www.federalregister.gov/documents/2022/11/29/2022-25794/cook-inlet-planning-area-outer-continental-shelf-oil-and-gas-lease-sale-258

In compliance with the Inflation Reduction Act of 2022 (IRA), the Bureau of Ocean Energy Management (BOEM) today announced it will offer approximately 958,202 acres off Alaska’s southcentral coast in a lease sale scheduled for Dec. 30, 2022. The IRA directed BOEM to hold the sale by Dec. 31, 2022.

 

On Friday, December 30, 2022, the Bureau of Ocean Energy Management (BOEM) will open and publicly announce bids received for blocks offered in the Cook Inlet Planning Area Outer Continental Shelf (OCS) Oil and Gas Lease Sale 258 (Cook Inlet Sale 258), in accordance with the provisions of the Outer Continental Shelf Lands Act (OCSLA), as amended, and its implementing regulations

 

 

Directly from pro green website.  Basically the lease sale can go thru but they can stop drilling/extraction thru environmental concerns.    BTW this was insisted by Joe Manchin as a concession to the IRA...the dem party didn't want it.

I love how people think they get the lease and snap their fingers and they are pulling oil out of the ground.  

 

While the IRA does require three offshore lease sales to be held, Interior has the responsibility and the discretion to make the right choices here: It should, for example, decide that any leases be conditioned with measures that protect people and wildlife and that limit greenhouse gases emitted from the resulting industrial activity.

Electrek’s Take

It would be better to have no more oil and gas lease sales, but we feel the Cook Inlet sale is not one to get seriously worried about. Earlier in the year, there was very little interest.

A lot of fossil fuel lease sales are procedural, and this may also be the case for Cook Inlet. The oil companies are sitting on roughly half of unused US public leases, and they’re not drilling due to lack of access to financing and supply chain shortages. We don’t see either of those things changing anytime soon. 

Edited by Highmark
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Oil companies are sitting on gobs of unused and undrilled leases.  Oil just waiting to be extracted if they just spent a some of their record profits on developing these leases they are already permitted to use.

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14 minutes ago, Art Vandelay said:

We need more refining capacity more than additional oil generation. Companies aren't going to invest in long term production when the govt couldn't be more clear about its intentions.

THIS directly leads to:

 

21 minutes ago, BOHICA said:

Oil companies are sitting on gobs of unused and undrilled leases.  Oil just waiting to be extracted if they just spent a some of their record profits on developing these leases they are already permitted to use.

THIS.

It's not really difficult to figure out.  The shift has been put in place, and until other investments come to fruition, you will get leases sitting, and profits of current leases soaring.

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3 minutes ago, Mag6240 said:

THIS directly leads to:

 

THIS.

It's not really difficult to figure out.  The shift has been put in place, and until other investments come to fruition, you will get leases sitting, and profits of current leases soaring.

Profits and keeping them at record levels is a priority for businesses…. They definitely don’t consider public well being into their decisions.

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