(03-24-2022 10:55 AM)OptimisticOwl Wrote:  When I signed my O&G lease, it took months before they could schedule a rig to drill the first of what eventually became three wells. So it is not something that can be geared up quickly. Rigs have left the US since Biden signed his executive orders. It may take years to get them back. Same with crews and all the other links in the support chain. So it not as if the oil executives can decide to resume full drilling next Tuesday. Drilling greenlit today will not be putting oil into pipelines next month - especially if those pipelines don't exist.

My wells were eventually pulled and plugged, due to diminishing returns. Those returns can diminish because of low prices, increasing expenses and/or falling production. The Biden Administration has made it a goal to increase expenses. Biden will be Prez three more years. Do the math. Oil producers are.

As for the 9,000 leases, they are not not all primo - maybe none are. They are just the leftovers from Biden pulling thousands of others, many of which were primo.

Certainly the Biden Admin is not 100% responsible for gas prices, but neither are they 0% responsible, as they are claiming. The things that could be done, should be done, they are not doing, for political purposes, not economic.