Where is Rex when you need him?

pacecar02 said:

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I wish the execs would bark back and forgo this polite BS

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Guess we won't see Musk called to testify about anything then. Pretty sure he'd spit fire.

I get being respectful, but gross displays of stupidity that surpasses the ability to claim ignorance from "leaders" does not deserve civility.

Did any of the oil execs say "ESG"? Financial institutions and private equity doesn't want to fund private companies to drill more and public companies dont want to tarnish their "green" image they have spent the past few years building.

Who wants to bet that big ESG fans are also crazy long gas/oil?

https://freebeacon.com/politics/how-dems-helped-spike-gas-prices/


In late October, for example, the House Oversight and Reform Committee called in the CEOs of Exxon, BP, Shell, and Chevron to explain what steps they are taking to produce less oil and gas, with Rep. Hank Johnson (D., Ga.) alleging that "the world can't wait" any longer. At the time, gas prices were hovering around a 10-year high.

JSKolache said:

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Where is Rex when you need him?

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Probably pandering to China somewhere.

I would like to hear from our oil and gas F-16 people on this.

https://www.wsj.com/articles/an-oil-leasing-fig-leaf-federal-land-court-order-new-drilling-permits-climate-policy-11650209050?mod=opinion_lead_pos2

Quote:

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An Oil Leasing Fig Leaf
The Biden Interior Department does the bare minimum to comply with a court order to allow lease sales on federal land.
By The Editorial BoardFollow April 17, 2022 4:20 pm ET

In case you missed the Good Friday news dump, the Biden Administration plans to restart oil and gas leasing on federal lands this week. Or so its press release claims. The Administration as usual is restricting oil and gas development while pretending that's not what it's doing.

During his first week in office, President Biden ordered the Interior Department to halt oil and gas lease sales on federal lands. Federal judge Terry Doughty last June ruled the ban violated the Mineral Leasing Act, which requires the government to hold quarterly lease sales "for each State where eligible lands are available." The judge ordered Interior to resume leasing......

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WolfCall said:

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I would like to hear from our oil and gas F-16 people on this.

https://www.wsj.com/articles/an-oil-leasing-fig-leaf-federal-land-court-order-new-drilling-permits-climate-policy-11650209050?mod=opinion_lead_pos2

Quote:

---

An Oil Leasing Fig Leaf
The Biden Interior Department does the bare minimum to comply with a court order to allow lease sales on federal land.
By The Editorial BoardFollow April 17, 2022 4:20 pm ET

In case you missed the Good Friday news dump, the Biden Administration plans to restart oil and gas leasing on federal lands this week. Or so its press release claims. The Administration as usual is restricting oil and gas development while pretending that's not what it's doing.

During his first week in office, President Biden ordered the Interior Department to halt oil and gas lease sales on federal lands. Federal judge Terry Doughty last June ruled the ban violated the Mineral Leasing Act, which requires the government to hold quarterly lease sales "for each State where eligible lands are available." The judge ordered Interior to resume leasing......

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Yes the Biden administration is beginning limited leasing on Federal lands but they have drastically changed the leading terms. They upped the cost of the leases but increased the royalty the Federal gov will accept.

So new Federal leases are going to cost approximately 50% more but the oil companies get to keep less of the oil produced. Hopefully nobody takes these new terms because if they do, those will be the same terms when the price collapses again.

The O&G execs are merely part of the theater. If not, you would hear them explaining basic economics and how stupid liberals are. But the fact that they simply take part in this charade without ever really getting to the core of the issue is all I need to know. The entire world is upside down and crony capitalists (not free market capitalism) paired up with radical leftist economic terrorists are purposely sabotaging America while the citizens watch this theater thinking someone there actually cares about the country. Get real.

*U.S. Natural Gas Prices Climb 3.7% to 14-Year-High $7.569, Up 103% Year-to-Date

— *Walter Bloomberg (@DeItaone) April 18, 2022

FJB.

Speaking of props, it was Obama himself who promised that energy prices under his plans would necessarily skyrocket.