Putin Biden Ukraine Negotiations

bbsam

Moderator
Staff member
Of course they've acquired leases. You have to before exploring that land for oil. Doesn't mean it's viable for oil drilling. Here's something to consider. The state of Texas has over 4 trillion square feet of land. Just a comparison. Those millions of acres of leases in the U.S. are a small part of what's out there.
But they haven’t even explored all the leases they have!! It’s literally a nonissue as it relates to the price of oil today.
 

bbsam

Moderator
Staff member
Yeah that’s it…..😂
So silly.

Consider it this way. UPS is running at 85% capacity. A global pandemic hits and suddenly UPS is at 109% capacity.

Mayor of Smallville, Idaho sends an email to UPS executives in Atlanta informing them that the city council voted and UPS will not be given permission to build on the west end of town.

And the response is? The response is, who cares? First planning for expansion into new buildings isn’t a six month project. If UPS planned to build in Smallville to begin with, there are always backup plans and contingency routing that is considered long before Smallville even elected the mayor.

It’s the same with oil companies. Exploring what they have takes years. What happens in Washington really doesn’t affect the day to day happenings. Shale mining closes down when the price of oil doesn’t support the operations. And why shouldn’t it? Why go to investors and say that dividends are down because getting the oil from shale is too expensive? Shut it down and reopen when prices go up.

It’s just business. Nothing the Biden administration has done has slowed oil production or even made it more expensive or difficult. It’s a political sideshow that partisans find convenient to stoke the voting fires but business leaders shrug their shoulders at. Why? Because they own Washington. In the end, they’ll get what they want. For the time being, there’s really no reason to complain because the money is flowing and thats really why they’re in business.
 
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TearsInRain

IE boogeyman
Consider it this way. UPS is running at 85% capacity. A global pandemic hits and suddenly UPS is at 109% capacity.
Mayor of Smallville, Idaho sends an email to UPS executives in Atlanta informing them that the city council voted and UPS will not be given permission to build on the west end of town.
And the response is? The response is, who cares? First planning for expansion into new buildings isn’t a six month project. If UPS planned to build in Smallville to begin with, there are always backup plans and contingency routing that is considered long before Smallville even elected the mayor.
your analogy is trash because UPS goes into this stuff with little to no contingency plans anymore

you should have seen the absolute internal cluster :censored2: that was last November when a dozen leases and expansions got cancelled due to failed inspections or just a total inability to even hire to a skeleton plan

there aren't enough IE to actually make and maintain them since the 2012 transformation so it just......doesn't happen at all...
 

vantexan

Well-Known Member
I own Master Limited Partnerships in 2 petroleum pipeline and storage companies. They are not common or preferred stock positions. They are partnership interests. I am not an employee. I do not work for either company....So you tell me.....Am I or am I not a stakeholder?
Yes you are. But you said a shareholder is the same as a stakeholder. But by your own description you aren't a shareholder.
 

vantexan

Well-Known Member
But they haven’t even explored all the leases they have!! It’s literally a nonissue as it relates to the price of oil today.
They aren't being allowed to explore those leases. That's the issue. Federal land, which is absolutely enormous out West, has been shut down.
 

vantexan

Well-Known Member
Number of drilling permits approved during the first year of the Trump administration..... 2600
Number of drilling permits approved during the first year of the Biden administration.... 3500
According to a November 2021 US Department of the Interior study US taxpayers are not being compensated fairly for oil and gas being extracted due to being paid percentage royalty rates that are lower than that being paid to states for gas and oil being extracted from state owned lands.
On 1/27/22 a federal judge struck down a federal 80 million acre Gulf of Mexico drilling lease approved by the Biden administration due to it's lack of a sufficiently thorough environmental impact study.

Right now there are more than 7000 federal on and off shore drilling permits that remain unclaimed. Sure there might be some oil under them but the sheer costs involved in getting it up and out to a market is another matter altogether.
Apparently you haven't noticed that the Biden administration has ended all exploration AND drilling on Federal land. We can talk all day about what could've been done but it's not happening now.
 

Overpaid Union Thug

Well-Known Member
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