So Biden shut down work on the Keystone Pipeline. Drilling on Federal land was also removed.

[TUMe]

But wait, now we are buying Russian oil for as much as $4 a gallon, roughly twice what it was costing in most states. Oil from Russia causes global warming if American oil does. In many states it cost more, but there aren't a large number of electric cars. When your fuels go up, it is nice to know the money is going to Russian industry. It is not just gasoline that is rising in price, Natural gas is up, LPG prices are up, diesel is up, most "electric trains" in this part of the country are really diesel fired, Jet Fuel is up. When you use these fuels, you are helping Russia rebuild the Soviet Union one country at a time. Ukraine is just the first.

 

[astonmartin708]

But wait, now we are buying Russian oil for as much as $4 a gallon, roughly twice what it was costing in most states. Oil from Russia causes global warming if American oil does. In many states it cost more, but there aren't a large number of electric cars. When your fuels go up, it is nice to know the money is going to Russian industry. It is not just gasoline that is rising in price, Natural gas is up, LPG prices are up, diesel is up, most "electric trains" in this part of the country are really diesel fired, Jet Fuel is up. When you use these fuels, you are helping Russia rebuild the Soviet Union one country at a time. Ukraine is just the first.

Which federal land has drilling been stopped on?

 

[lawpoke87]

Available lands aren’t the issue it’s investment in the same. I assume part of Biden’s plan with his assault on our O&G industry was the rhetoric would greatly reduce those willing to invest in what is now a very uncertain future. When the federal government goes after an industry the money people tend to take notice. Don’t see any solution at this point without a 180 being done by the Biden Admin. Something which isn’t happening. High O&G prices serves the purpose they were intended to serve. Most of us foresaw the result….dependence on foreign sources as US supply drops more than demand. See Europe .

 

[astonmartin708]

Available lands aren’t the issue it’s investment in the same. I assume part of Biden’s plan with his assault on our O&G industry was the rhetoric would greatly reduce those willing to invest in what is now a very uncertain future. When the federal government goes after an industry the money people tend to take notice. Don’t see any solution at this point without a 180 being done by the Biden Admin. Something which isn’t happening. High O&G prices serves the purpose they were intended to serve. Most of us foresaw the result….dependence on foreign sources as US supply drops more than demand. See Europe .

I think the investors see the commitment that auto manufacturers and utilities have made to reliable electric vehicles and are moving away from Gas investments proactively. Oil will never go away, but it will shrink. Much like Fax machines.

 

[lawpoke87]

I think the investors see the commitment that auto manufacturers and utilities have made to reliable electric vehicles and are moving away from Gas investments proactively. Oil will never go away, but it will shrink. Much like Fax machines.

Until Biden’s assault on the industry, investment has followed prices and demand as it relates to supply. This is no longer the case. Demand is growing. Investment is not. The external force is an federal anti O&G environment. Which was the goal. It worked

 

[TUMe]

Which federal land has drilling been stopped on?

I stand corrected, Biden promised to end new drilling on Federal Land, but this, like other promises from Biden, did not happen. In fact he has allowed increases especially in NM, WY, MT, CO, and UT. I am sorry for falling into the trap of believing his promises.

 

[TU 1978]

This whole thread is hilariously flawed, along with the original premise.

 

[astonmartin708]

Until Biden’s assault on the industry, investment has followed prices and demand as it relates to supply. This is no longer the case. Demand is growing. Investment is not. The external force is an federal anti O&G environment. Which was the goal. It worked

You also have to think that all of those same investors were burned by the industry multiple times. Biden isn't preventing investment. He is promoting investment elsewhere though.

 

[astonmartin708]

I stand corrected, Biden promised to end new drilling on Federal Land, but this, like other promises from Biden, did not happen. In fact he has allowed increases especially in NM, WY, MT, CO, and UT. I am sorry for falling into the trap of believing his promises.

A politician not doing everything he says he will do? Color me shocked. Listen of everything they say and believe the other half.

 

[lawpoke87]

You also have to think that all of those same investors were burned by the industry multiple times. Biden isn't preventing investment. He is promoting investment elsewhere though.

…and there lies part of the problem. We’re going to need to see a significant increase in investment over the next 12 months to prevent an energy shortage as demand exceeds supply. Unfortunately, I don’t see Biden pissing his green friends off and promoting investment capital to O&G drilling. Oil over $100 a barrel in 2022 will obviously result in more inflationary pressure and pain for many consumers who are seeing their buying power shrink. Hoping for the best. Watching the stock market over the next few months as support levels are tested. Many ominous signs on the near horizon.

 

[Gmoney4WW]

Nobody's mentioning OPEC holding back on the increase in supply that they will release, and it's effect on prices !n an inflationary atmosphere.

That has more effect on cost than our investment, or lack thereof. It's never been complete energy independence for the US. (No matter how much we do or don't invest. ) We are still fairly energy independent as far as supply goes, but not energy independent enough to control prices as much as we would like.

 

[astonmartin708]

Nobody's mentioning OPEC holding back on the increase in supply that they will release, and it's effect on prices !n an inflationary atmosphere.

That has more effect on cost than our investment, or lack thereof. It's never been complete energy independence for the US. (No matter how much we do or don't invest. ) We are still fairly energy independent as far as supply goes, but not energy independent enough to control prices as much as we would like.

OPEC is trying to be careful to maintain their market shares and prop up the high price environment while still selling as much as they can. It’s a balancing act.