By on June 2, 2021

On Tuesday, the Biden administration announced it would be suspending oil and gas leases issued in Alaska’s Arctic National Wildlife Refuge during the last days of the Trump administration. Bent on maintaining the United State’s energy independence, Donald Trump had moved to expand fossil fuel development in ways that would have been at odds with predecessor Barack Obama. But today’s White House represents a return to form, with an interest in supplanting traditional energy concerns with what it believes will be greener alternatives.

It’s bad news for the Alaskan state government, which had hoped to devote a subset of the region to rebuilding its oil industry by taking advantage of its vast reserves. But environmentalists and a subset of tribal representatives have praised the decision to prohibit development on protected lands. We expect consumers will have conflicting opinions, based largely upon how much they’re willing to pay at the pump

White House National Climate Advisor Gina McCarthy said Joe Biden had signaled his gratitude for “the prompt action by the Department of the Interior,” adding that the Trump administration’s policies might have spoiled the natural beauty of Alaska.

While the decision does indeed help to maintain the refuge, there are lingering questions about whether this is truly what’s best for the environment. There have been criticisms that restricting drilling and banning refineries on the West Coast has resulted in an increase in tanker traffic moving across the Pacific. Tankers have been cited as one of the worst contributors to air pollution, with marine shipping estimated to represent a third of all trade-related emissions. Many have argued that it would be more economical and ecologically friendly (from a global perspective) to move fuel via pipelines and localize refining and drilling wherever possible.

But nothing is set in stone just yet. The leases have been stalled and are awaiting an environmental review. Although the Biden administration isn’t just planning on assessing the probable pollution risks, it also wants to explore what it considered “legal deficiencies” represented in the Trump administration’s previous environmental analysis — which it believes were done in haste.

Truth be told, the leases kind of mimic the stringent emission regulations issued by Obama in his final days in office. Many argued that they were designed to make the Trump deregulation policy as difficult to enact as possible and were issued in haste. The leases kind of mirror that in reverse, with their similarly coming shortly before a change in leadership they knew would be attempting to end pipelines and drilling.

Eleven tracts were auctioned off in total, covering an estimated 550,000 acres in the North Slope Borough. The area has a population of fewer than 10,000 living in a zone that’s almost 100,000 square miles. That makes it larger than most states with a populace that’s eclipsed by one modestly sized town. Alaska had hoped the leases would bring in more jobs to its northernmost region and is heavily reliant on the oil industry already. But the planned development site would have overlapped with about a fourth of the Arctic National Wildlife Refuge that borders Canada.

One of the biggest concerns is that there’s effectively no infrastructure within the region, requiring the construction of roads and pipelines to help maintain the drilling sites. While the Alaskan government said those projects would yield even more jobs, environmentalists expressed concerns that this also ran the risk of harming the local wildlife. Local communities, including Iñupiat groups, expressed mixed feelings. Despite many native leaders saying they were fearful of harming the natural environment, most of the small towns in the region are accessible exclusively by air travel. Some locals felt adding infrastructure would result in more amenities and opportunities.

The Alaska Industrial Development and Export Authority said it was disappointed by the decision to suspend the leases, many of which were already subject to lawsuits by various environmental and indigenous groups (e.g. the Gwich’in Steering Committee and Alaska Wilderness League). Alaskan Gov. Mike Dunleavy likewise expressed his dismay, citing that the region had been opened up for development in 2017.

“Our leases for oil and gas are valid and cannot be taken away by the federal government,” Dunleavy stated. “I oppose this assault on Alaska’s economy and will use every means necessary to undo this egregious federal overreach.”

Meanwhile, the Biden administration has continued to signal it wants to restrict traditional energy concerns — particularly if they’re thinking about operating on public lands. That has included executive orders ending any new leasing on federally owned land (or water), which has dissolved about a fourth of the nation’s oil sourcing. But it has more expansive goals to eliminate carbon emissions wherever possible and transition the United States’ economy toward something it believes will be more sustainable.

[Image: Evgenii Mitroshin/Shutterstock]

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76 Comments on “Gas War: Biden Suspends Oil Drilling Leases in Alaska...”


  • avatar
    28-Cars-Later

    Eh, sounds like low hanging fruit for the D.C. junta [who hates you].

    • 0 avatar
      Ol Shel

      That’s the laziest right wing trope I’ve heard in a long time, right up there with ‘Dems are Satanists who eat babies’.

      You seem to have a lot of hate inside you. Have you ever thought that it’s that hatred that draws you to the negativity and demonization on the right?

      (You should)

      • 0 avatar
        28-Cars-Later

        No, just the Clintons and their pals.

        Try to have something intelligent or witty to say next time.

        • 0 avatar
          dal20402

          It’s time for a new right-wing scapegoat. Hillary can’t even get the president to answer her calls, so she’s hardly part of any “junta.” Maybe AOC? The right does seem to be making some effort to set her up as the next villain of choice (I think mostly because they’re all fascinated by her).

      • 0 avatar
        6250Claimer

        “You seem to have a lot of hate inside you”. Projection.

      • 0 avatar
        teddyc73

        @Ol Shel Is that kind of like the unending vile hatred the left spews towards Trump, his supporters, Christians, Conservatives, straight White men, and Republicans? Just curious.

      • 0 avatar
        don1967

        “That’s the laziest right wing trope I’ve heard in a long time, right up there with ‘Dems are Satanists who eat babies’.”

        Talk about tired tropes. A leftist who (a) relies on strawman comparisons to “prove” that other people are intellectually lazy and (b) doesn’t see the irony.

      • 0 avatar
        Southerner

        Dear Old Sheldon,
        Democrats don’t eat babies, and no one has said so. Democrats kill babies, on purpose, then they sell the parts.

    • 0 avatar
      Luke42

      @28-cars-later:
      “Eh, sounds like low hanging fruit for the D.C. junta [who hates you].”

      Sounds more like Biden is saving American oil for the endgame of the oil-age to me.

      Wouldn’t you rather buy-and-burn everyone else’s oil first, and then have America’s oil ready to go once it becomes a decisive strategic advantage?

      Hopefully EVs will make this kind of thinking unnecessary. But that hasn’t happened yet.

      Plan for likely future scenarios, rather than try to revive the past.

      • 0 avatar
        28-Cars-Later

        I implore you to study Western foreign policy about 1970 to now, in it you will find oil to be a key part of continued US power. Oil is also what enables modern levels of food production and global commerce, a serious end to the “oil age” means a return to a hybrid of the 19th Century (if this happened rapidly we’d be lucky to survive it without a nuclear exchange). That is a real future scenario in an oil emergency.

        I’m not exactly sure what the twenty year agenda is but we will likely see a rise in EV market share as overall automobile production declines. The declines will be engineered through avenues such as the “chip shortage” but overall automobile prices of any propulsion will remain high. They have already hinted at WEF ideas of re-feudalization (“you’ll own nothing and be happy”) but I believe in part this is being done as demand destruction possibly to front run an oil production peak (which if true is actually necessary). Either that or they just don’t want you to have affordable energy access in the new dystopia.

        • 0 avatar
          Luke42

          Reducing demand for oil increases our economic efficiency.

          I don’t have much to say about your attempts to create a sinister-sounding narrative for the damage caused by income-inequality. Remember that “the left” cares a lot about decreasing income-inequality, so that we can prevent what you call “refeudalization”. If you’re concerned about these type of issues, you might want to look into what the Bernie Bros are really saying. But, hey, you’re entitled to dislike whoever you dislike — so if you want to dislike the people who are trying to prevent “refeudalization” for your own reasons, that’s your call. [shrug]

          • 0 avatar
            28-Cars-Later

            The irony is they’ve convinced you they are different when its uniparty policy to enact re-feudalization. In fact they are speeding it up, which is what the Great Decade of Incredible Coincidences is in part about.

            I know where the uniparty stands based on action, where have the neo Bolsheviks been on these?

            -Deficit spending in general.
            -Huge pork in the recent Coronavirus bills, much for foreign nations.
            -Petrodollar recycling (and foreign money laundering) into real estate assets.
            -Illegal immigration for cheap labor and lower housing availability.
            -Epidemic of cheap Chinese Fentanyl suddenly flooding the street in recent years.
            -Housing NIMBYism.
            -Claims 20-25% of all new housing construction cost being permit and local corruption issues.

            On a personal note, in Phoenix I encountered a woman in her early 60s who literally cried when I asked about her home. Something to the effect of she didn’t get her name on the title when it was purchased with another older woman (aunt maybe?) and Phoenix well is in the midst of a housing supernova. For some reason I gave her my cell number but explained I wasn’t from there and couldn’t really help much. She called after I returned and asked my advice on a mobile home she claimed she found for 30K, to which I replied call a mortgage broker and see if you could somehow qualify because of income, age, first time buyer etc.

            I bring this up because it angers me actual American citizens in their 60s are on the verge of homelessness while LEGAL immigrants are given FREE SFH homes and vouchers for NEW FREE cars (at least prior to 2020, yes I personally know this is occurring). Catholic Charites among others for reasons I cannot understand has been enabling this for at least the last 15 years, prior to that is was the Bosnians in the 90s to 00s (a Bosnian non-citizen driving illegally hit me from behind in 2000 in a new Ford Aspire).

            The Nepalese have been living several families to their FREE houses, and I was told when their cousins arrived and got their FREE house the earlier arrivals sold theirs pocketing six figures and all moved into the newest one – clever way to game capital gains if true.

            At least two of them were operating an old tow truck and drove around stealing vehicles (they tried to steal my mother’s neighbor’s 90s Oldsmobile). When Zone 3 police finally found them, they suddenly didn’t speak much English and claimed they were towing cars they thought were abandoned – I am not kidding. They were charged but I never found out what happened after, my guess is nothing and they were quietly told to knock it off.

            So come get your free sh!t Nepalese, but early 60s lady in Phoenix was facing the street.

            Defend this Bernie Bros.

            https://nextpittsburgh.com/features/pittsburghs-bhutanese-community-finds-home-carrick/

          • 0 avatar
            stuki

            “Remember that “the left” cares a lot about decreasing income-inequality”

            To the extent they even do, doing so is a pretty pointless exercise unless they also have at least some rudimentary idea of how to go about achieving it. Which they obviously don’t, as the past 50 years have clearly demonstrated (even to those clueless enough to fantasize economics is some sort of empirical “science.”)

          • 0 avatar
            285exp

            They’ll decrease income inequality by making us all poor.

  • avatar
    Kendahl

    We don’t need to pump oil in North America. It’s sufficient merely to have the capability to do so at an economical price. That sets a limit on what foreign producers dare charge before domestic producers can compete with them. Banning fracking and cancelling drilling leases takes the pressure off foreign producers.

    • 0 avatar
      MyNameisGroot

      …and while the first Iranian oil in decades was imported into the US (plus Venezuela), gas from Russia into the EU, pipelines are cancelled (causing increased and more hazardous transport by rail), punitive measures are made against oil-producing states and China builds a coal-fired plant a day and drills worldwide (often in high-risk situations) with carte blanche and no comments/coverage. Spot a pattern?

    • 0 avatar
      bullnuke

      “Banning fracking and cancelling drilling leases takes the pressure off foreign producers.”, which is likely why this was done. Gotta get that 10%…

  • avatar
    redapple

    Resident Bidet Policy.
    Do the reverse of what ever Trump did.
    American 180 like Dennis Miller used to say.

    • 0 avatar
      Lou_BC

      Ummm…that was the one term cheeto’s modus operandi, undo all that Obama did. He failed.

      • 0 avatar
        teddyc73

        @ Lou_BC Actually he succeeded and very successfully. The country was roaring after the 8 year Obama mess. But hey, who needs a roaring country when we can have a man with dementia.

        • 0 avatar
          Luke42

          @teddyc73:
          “The country was roaring after the 8 year Obama mess.”

          Uhh, did you actually live through 2020?

          The USA was in an economic crisis at the end of the Trump era, just like it was at the end of the GWB era. The next guy has had to clean up the mess each time.

          I think I see a pattern here.

          • 0 avatar
            28-Cars-Later

            There is a perception the economy improved later 2017-early 2020. I’m not sure that’s true, but I would argue that period -even if equal or less to 2012-2016- was a better economic period March 2020 to present. I will also predict it will remain so till at least Q3 of this year when we will begin to see see if the Biden Shortages are abated (fingers crossed not sarc).

            “The USA was in an economic crisis at the end of the Trump era”

            The US has been in an extended economic crisis since Fall 2008.

          • 0 avatar
            phreshone

            Dude… record low unemployment in early 2020 before the China Flu was unleashed…

            Manufacturing was returning… and manufacturing jobs, average american jobs, don’t return without a strong energy policy…

          • 0 avatar
            Southerner

            Hey Luke:
            “Uhh, did you actually live through 2020?” Uh, did YOU actually live through 2020? Recollect anything happening to tank the economy, maybe? Gee, that was sooo long ago.

        • 0 avatar
          Lou_BC

          “The country was roaring after the 8 year Obama mess”

          I take it that you don’t comprehend economics. The USA and most countries economies where on and upward trajectory since the recession of 2008. That fell apart under the cheeto-in-chief. There’s a reason that he was a one shot wonder and it ain’t election fraud.

    • 0 avatar

      “Do the reverse of what ever Trump did.”

      Trump in White House went to toilet occasionally. How can you reverse that?

  • avatar
    slavuta

    Funny, I just read this

    “LONDON (Reuters) -Climate activists who scored big wins against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.

    Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco, Abu Dhabi National Oil Co, and Russia’s Gazprom and Rosneft. “

  • avatar
    28-Cars-Later

    “White House National Climate Advisor Gina McCarthy said Joe Biden had signaled his gratitude for “the prompt action by the Department of the Interior,” adding that the Trump administration’s policies might have spoiled the natural beauty of Alaska.”

    A place he’s never been too, never will go, and not sure where or what it is exactly.

    Good work D.C. junta, fight over the ANWR thing that’s been going back and forth for over twenty years; not as if there are real problems.

  • avatar
    Oberkanone

    Energy independence is critical for security and economy of our nation. We are not close to ending petroleum fueled transport aircraft, tanks, fighter jets, transport ships, etc..
    Biden administration is pandering to political interests of environmental activists.

    • 0 avatar
      28-Cars-Later

      Who don’t matter because from a voting standpoint they already own those votes. The pinkos were prevented from Feeling the Bern twice now and I’d wager at least 2/3rds still came out for Skeletor. Why bother pandering?

    • 0 avatar
      Lou_BC

      @Oberkanone – it makes more sense to burn their fuel 1st. If one’s enemies run out of fuel, they can’t be very effective in a war.

  • avatar
    APaGttH

    This is basically non-news and I wrote about this years ago for TTAC on this (and other oil & gas industry topics).

    The oil industry isn’t very interested in Arctic drilling. Melting permafrost, a shorter and shorter ice road season, and the fact that, beyond some huge global event, oil will never break $100 a barrel as a “new normal,” the industry doesn’t have much interest in drilling in Alaska anymore.

    • 0 avatar
      28-Cars-Later

      “oil will never break $100 a barrel as a “new normal,””

      Something like 25% of all US FRN dollars ever created were printed last year but $100/bbl oil is unpossible?

      • 0 avatar
        Luke42

        “Something like 25% of all US FRN dollars ever created were printed last year but $100/bbl oil is unpossible?”

        Remember that the value of a currency is determined by supply and demand — just like anything else that’s traded in markets.

        You are only thinking about the supply side of dollars.

        Nobody talks about what happens on the demand side.

        The US is controlling the money supply, but the value of the dollar hasn’t changed much. That implies that the DEMAND for dollars has changed.

        For instance, if a foreign country pegs their currency to the dollar, the demand for dollars must go up. So, we have to create more money to avoid deflation. (A deflationary spiral is what did a lot of the damage during The Great Depression.)

        The fact that nobody’s talking about the demand for dollars shows that the people who say “printing press go brrrrr” don’t seem to think enough about this topic to even acknowledge that the demand side of the supply & demand for dollars exists.

        If you insist on being scared of inflation, you’ve at least got to convince your audience that the demand for US Dollars worldwide is mostly unchanged.

        [facepalm]

  • avatar
    APaGttH

    This is basically non-news and I wrote about this years ago for TTAC on this (and other oil & gas industry topics).

    The oil industry isn’t very interested in Arctic drilling. Melting permafrost, a shorter and shorter ice road season, and the fact that, beyond some huge global event, oil will never break $100 a barrel as a “new normal,” the industry doesn’t have much interest in drilling in Alaska anymore.

  • avatar
    Dave M.

    I’m glad someone is responsive to the long-held concerns of the many indigenous communities most impacted by the leases. About time.

  • avatar
    Imagefont

    It’s a lot cheaper to drill in Texas and that’s has definitely slacked off – I know from personal experience. Even drilling in the Dakotas is unattractive until the price gets a lot higher – everything just costs more. And Alaska is far worse.
    Understand this: drilling in Alaska does not make oil cheaper. It’s only going to occur when the price of a barrel is much, much higher and it becomes economical.

  • avatar

    As much as I despise Bidon in this case I agree with his decision. Oil is valuable nonrenewable resource and it is a crime to burn it in ICEs when you can buy Tesla and use renewable energy. We have to conserve oil on our territory for future generations and think long term not just satisfy our immediate needs today. Regarding Russia and Arab countries – that is all they can export. Note that China does not have oil and it forces them to develop into 1st world power.

    • 0 avatar
      Lou_BC

      Tactically, it makes sense to save domestic oil for military use.

      • 0 avatar

        It is called strategic reserve. And not only oil. Guess why Japan started war with US? Even most stupid Japanese generals knew that war is unwinnable. Therefore Japanese were desperate. Why German did not take Moscow?

        • 0 avatar
          slavuta

          “Regarding Russia and Arab countries – that is all they can export. Note that China does not have oil and it forces them to develop into 1st world power…. Why German did not take Moscow?..”

          1. This is true. This is Russia’s problem. Their biggest export is Petroleum products. But the problem is not as big when you consider that less than 20% of (total-federal and regional) budget depends on oil. But as they develop other areas of economy, this goes away. For the Arabs, not so much

          2. China actively puts online coal firing plant right now. + nuclear. And probably gas.

          3. Germans did not take Moscow for several reasons – their attack ran out of steam, Soviets brought reinforcements from Siberia, Germans spread themselves thin, they created impossible supply lines, Soviets secretly moved units from Leningrad front to Moscow, Germans were not ready for such long campaign and have not equip with winter gear, German fine lubricants froze solid, all their equipment was rendered useless. They couldn’t even properly bomb Moscow. Moscow was hardly bombed because Soviets had built fake buildings and Germans did not have right maps. At night, important areas were blacked our and fake ones were lighted, most bombs fall in some fields around Moscow.

          4. I don’t see to much problem drilling. Of course, they need to build an access road, etc. But if they would plant some trees after they are done. Another issue is that these oil workers will start go hunting…

          • 0 avatar
            Dave M.

            Slavuta – Good analysis of the Russian front. It amazes me that for all their engineering and planning acumen, Germany was totally and inadequately prepared for the final step or a drawn-out battle.

        • 0 avatar
          mikey

          “Why Germany not take Moscow”

          Russia used their oldest and most effective weapon ..Trying to get a 1940’s era Diesel to start at -25 F can get a bit frustrating.

      • 0 avatar
        28-Cars-Later

        I agree, wish they would just come out and say that.

      • 0 avatar
        285exp

        All we need is for the military to get a few years notice of when they’ll need that oil so they can start drilling again.

    • 0 avatar
      teddyc73

      How exactly do you know that oil is nonrenewable? We still haven’t run out. “Buy Tesla”? Yeah, that’s the solution. To funny. I love knowing that me driving a pickup is considered a crime. Our nation runs on oil. That is a fact. Being independent of other nations benefits all Americans. That is a fact. Biden is a buffoon and illegitimate. That is a fact.

      • 0 avatar
        Luke42

        “How exactly do you know that oil is nonrenewable?”

        Oh, oil *is* renewable.

        Just not on a human timescale.

        You just have to wait several million years for today’s algae & plankton to be subsumed into the earth and stew under pressure.

        Petroleum geology (and the related science) is pretty well understood — by anyone who cares to learn.

  • avatar
    Lou_BC

    Looks like Posky is tying himself in knots trying to make this sound like first nations are for oil drilling.

    “a subset of tribal representatives have praised the decision”

    “Some locals felt adding infrastructure would result in more amenities and opportunities”

    It sounds like the “subset” is the small group in favour of drilling.

  • avatar
    Art Vandelay

    Well, Biden said he would do all this. This is what people voted for so when gas goes up (more) and they have to take the bus I’ll expect no grumbling. People can rest comfortably in that hard plastic sheet knowing thier guy won.

    As for me, I bought AMC at 17…Todays profit taking buys much gas.

    • 0 avatar
      28-Cars-Later

      Congratulations. I made a small amount in the Reddit PNDs back in Jan but stayed out since. I’m an expert at buying calls and then selling after a 50% pullback but still profiting somewhat because I bought low enough :D

      • 0 avatar
        Art Vandelay

        A family member talked me into it. I bought some time ago and have been way down for months. Ironically the family member got out while we were still down. I looked at it like gambling at the time, which it was.

    • 0 avatar
      teddyc73

      Actually we didn’t vote for this. We allowed the corruption of Democrat governors to give us this.

      • 0 avatar
        Dave M.

        Tell us more.

        • 0 avatar
          Lou_BC

          @Dave M.

          “There is a fifth dimension, beyond that which is known to man. It is a dimension as vast as space and as timeless as infinity. It is the middle ground between light and shadow, between science and superstition, and it lies between the pit of man’s fears and the summit of his knowledge.”

          Yes, it’s the right-wing zone….

          • 0 avatar
            28-Cars-Later

            Do do do do, do do do do, do do do do…

          • 0 avatar
            ToolGuy

            “You’re moving into a land of both shadow and substance, of things and ideas. You’ve just crossed over into… the Twilight Zone.”

            • Up above, 28-Cars-Later said:
            “They have already hinted at WEF ideas of re-feudalization (“you’ll own nothing and be happy”)”

            • Ford Motor Company CEO Jim Farley just said (May 2021):
            “And the way we disrupt ourselves is to go to a per-mile or per-day type of model where people don’t own, but they rent.”

            https://www.theverge.com/2021/5/20/22444294/ford-f150-lightning-pickup-truck-jim-farley-interview

            [He must have meant something else.]

  • avatar
    EBFlex

    It’s really incredible how our racist, homophobic, and Alzheimer’s riddled illegitimate president has damaged this country in shiv a short time.

    Prices for everything are up considerably, we are being attacked left and right, he has an illegitimate Vice President that was put in charge of the border crisis and hasn’t said a word about it in over 70 days, etc.

    It’s like he’s paying back China for something. This country does not need to be anyone’s pawn…but yet with him in office we are chinas pawn. And this ban on drilling (in an area literally nobody goes to and is just wasted space) furthers that.

    Since it’s been shown that masks don’t work (anyone with an IQ above 10 knew that but, you know, we were told to tRuSt ThE ScIeNcE, you have to wonder if that was also a way of helping China (certainly pushing the fake wet market theory was).

  • avatar
    teddyc73

    Yeah, bend to the far left environmentalist wackos. Sure. Who needs energy independence? Something that benefits ALL Americans. Nah, don’t need that. It only helps the economy and is good for the country. Let’s be at the mercy of foreign countries. The dementia patient in the White house and his puppet masters know what’s best. Some of you people actually voted for this buffoon.

  • avatar
    Old Scold

    I like cars. I like technology that improves cars. I like this planet and would like for it to be habitable for my great grandchildren to drive cars. Can we keep to these subjects please rather slandering politicians, doing what they were elected to do.

  • avatar
    ponchoman49

    Brilliant. Exactly what was needed after a major pandemic, lost lives, jobs and careers and an economy sinking like the Titanic. It isn’t just the fuel prices that are soaring up. It’s everything around us and the low to middle income every day folks are being hit yet again. I’m for cleaner air, which we now have some of the cleanest in over 100 years, and conservation but the way the left handles it is very troubling killing jobs and livelihoods with it!

  • avatar
    Jeff S

    Well if you want to make EVs more attractive and you want to do something about climate change then restrict the supply of oil thus increasing the price of gasoline and diesel. Really don’t have a problem with paying more for fuel especially if it gives people an incentive to buy cleaner more efficient vehicle. You have a right to buy whatever vehicle you want but you are not entitled to cheap gas. The Alaskan oil is more expensive to drill for due to the permafrost and the weather. I don’t agree with eliminating fracking or other recovery methods that yield more oil and gas from existing wells–it is important to extract more oil and gas from existing wells but better safer methods of fracking should continue to be developed. It is also less expensive to use recovery methods on existing wells versus drilling for new. Drilling in Texas, Louisiana, and Mississippi is much more cost effective than drilling in Alaska. Even offshore drilling is more efficient yielding greater amounts of oil and gas.

    We should have enough domestic production for our defense and import some oil but not import much that we become dependent on it. Nothing wrong with saving some of our oil reserves for future generations. Many of the oil and gas leases on publicly owned land is at a lease rate below what is standard. The royalties should at least be at an average rate and should go back into the Treasury for drilling on Federally owned lands which is one way we as taxpayers have subsidized the oil and gas industry. I do not hate the oil and gas industry that I had worked in and own stock in but I don’t believe we should subsidize them with below market royalties.

  • avatar
    Master Baiter

    The worst thing for business is to have regulations like this changing every time the party occupying the white house changes. Congress should do its job and legislate compromise solutions that can be stable over the long run.

  • avatar
    Superdessucke

    This what the country voted for. Those who don’t like it need to vote in sufficient numbers next time instead of engaging in other pursuits. Sheesh.

  • avatar
    Jeff S

    Agree Master Baiter Congress needs to do its job and yes there needs to be a compromise solution that brings stability in the long run.

  • avatar
    Ol Shel

    The last Republican I spoke to said that Biden would outlaw all business and implant us all with microchips.

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