Energy prices in America are going to get much worse than we’ve ever imagined

[NationalMatch]

Last week, Joe Biden canceled all drilling in Alaska on federal land. Separate from the fact that no president should have that kind of power over the American economy and lifestyle, he paired it with another executive order that will make fuel more expensive than Americans have ever imagined.

Joe Biden promised during his basement campaign for the presidency that he was going to “end fossil fuel”:

Energy prices in America are going to get much worse than we’ve ever imagined

Last week, Joe Biden canceled all drilling in Alaska on federal land. Separate from the fact that no president should have that kind of power over the American economy and lifestyle, he paired it with another executive order that will make fuel more ...

www.americanthinker.com

 

[caliberbob]

Usually they don’t do this during election season. That’s what I find scary

 

[CHenry]

LMAO!
Simma down twister, America isnt going there.

 

[HoLeChit]

Those leases weren’t being purchased by companies. They’ve been available for purchase since the day trump left office, it was his last thing he did. Biden did the equivalent of taking an unsold house off the market.

 

[1shott]

No matter the details no on can deny the attack on fossil fuels in this country by the biden administration.

We have the resources to be oil independent as well as a exporter, yet here we are at the mercy of opec yet again.

China is building close ties with saudi, building one of the worlds largest refineries there.

If anyone cant see that and the threat to this countries security that goes along with it, then I dont know what to say.

Saudi Aramco to invest billions in Chinese petrochemicals

RIYADH, Saudi Arabia (AP) — Saudi Arabia's state-owned oil giant Aramco will invest billions of dollars in China's downstream petrochemicals industry, including the construction of a new refinery, the company said in deals announced Sunday and Monday.

apnews.com

Saudi Aramco plans $10 billion China oil refinery complex for 2026

The project in Liaoning province's city of Panjin, expected to cost $10 billion, will be Aramco's second major refining-petrochemical investment in China.

economictimes.indiatimes.com

 

[RickN]

Those leases weren’t being purchased by companies. They’ve been available for purchase since the day trump left office, it was his last thing he did. Biden did the equivalent of taking an unsold house off the market.

From my understanding he canceled some purchased leases, took other lands off the block and the lands that had not been leased yet were because no lease auctions have happened since he took office. He did not cancel all drilling on fed land in AK.

 

[1shott]

Usually they don’t do this during election season. That’s what I find scary

Well after 2020, it was proven that "elections" do not matter. If anyone thinks that the democrats, socialists and communists in power now are just going to give it up in 2024, is fooling themselves.

They will rig the election, post false ballots just like last time, courts will rule in their favor and its done.

 

[HoLeChit]

From my understanding he canceled some purchased leases, took other lands off the block and the lands that had not been leased yet were because no lease auctions have happened since he took office. He did not cancel all drilling on fed land in AK.

Sounds about right. Either way, didn’t change much, if anything.

With the logistical cost of getting Alaskan oil to the lower 48 and refined anyways, especially with keystone getting shut down, I’m willing to bet it would have raised prices anyways.

Like most news these days, it’s all just much ado about nothing.

 

[HoLeChit]

This helps put things into perspective.

Alaska: Biden to suspend Trump Arctic drilling leases

The president will suspend oil and gas leases in Alaska's Arctic National Wildlife Refuge.

www.bbc.com

Also, in 2019, the north slope was producing approximately 500,000 barrels per day. Most of which was refined and used in Alaska. So it would have little to no effect on continental US prices, reserves, or life. A very small portion gets sent to the “mainland”.

In comparison, the Permian Basin was producing 4,000,000 barrels per day, with much lower costs. Also, I at least know that between 2017-2019 we were fracking a lot more wells down there than we needed. So there’s a lot of wells that were drilled and fracked, then capped, waiting to be uncapped, cleaned out, and put into production.

 

[RickN]

This helps put things into perspective.

Alaska: Biden to suspend Trump Arctic drilling leases

The president will suspend oil and gas leases in Alaska's Arctic National Wildlife Refuge.

www.bbc.com

Also, in 2019, the north slope was producing approximately 500,000 barrels per day. Most of which was refined and used in Alaska. So it would have little to no effect on continental US prices, reserves, or life. A very small portion gets sent to the “mainland”.

In comparison, the Permian Basin was producing 4,000,000 barrels per day, with much lower costs. Also, I at least know that between 2017-2019 we were fracking a lot more wells down there than we needed. So there’s a lot of wells that were drilled and fracked, then capped, waiting to be uncapped, cleaned out, and put into production.

Actually the drilling in AK does help the rest of the country a lot. Means we are not shipping oil and gas up there. So it does increase our supply in the lower 48.

Really what Biden did is going to hurt us, just not as bad as if he had canceled all AK drilling. It is a stupid move on his part and even some Democrat are saying so and turning against him. Enough so that I doubt Biden is the their 2024 nominee.