Biden suspends oil and gas drilling on Federal Lands for 60 days for review.

[Boat + 1,323]

On 1/22/2021 at 1:51 PM, Roch said:

Biden Operatives need to throw the "Squad" a few bones to placate them.  This is the first.  

What's second ? Student loans ? Universal Healthcare ? 

I read a couple of articles that suggested funding Social Security through 2100 might be his big ticket item. How? Raising taxes on the 🤑 rich.

Edited January 24, 2021 by Boat

[Boat + 1,323]

The Dems are wrong about drilling on land in Alaska or the Artic. That’s smarter than drilling around populated areas. In fact no well within 1/2 mile of a house or business be allowed. 
Think we like oil and gas but we don’t like to kill or endanger people. Seems like a logical compromise.

[Roch + 537]

On 1/23/2021 at 2:40 PM, El Nikko said:

Well for once in my life I'm going to be a little selfish because we don't drill up there, if there's going to be any silver lining then this so far seems to help TX drillers a little. Not celebrating it I think these people are insane and demonic, they just shutdown the Keystone Pipeline and destroyed a load of jobs but luckily we don't drill anything up in Dakota either anymore....we used to, I must have been responsible for the wellbore placement of well over a hundred wells in the Bakken and they were great and challenging wells to drill.

I hope people who are in unions look a little deeper into them though, because this is quite sad.

 

U.S. unions are pissed off at Biden.  

Biden says replace the Keystone lost jobs with Green Energy jobs. 

Not equivalent.

Plus, where do you think all the solar panels are built now and will be built in the future.  

Correct, China.

I would pass legislation that in order to take advantage of Tax Credits, Federal Grants , etc for building a solar electric facility or buying an electric vehicle the solar panels or EV must be built in the U.S. .  (Not just assembled from imported parts). 

I would phase it in over 5 years. I would start immediately with a % lower credit/grant for foreign solar/EV products and decrease the  allowed foreign solar/EV each year until 100% must be built in U.S. built or zero credits. 

This will give U.S. manufacturers time to buildout mfg. 

Why should the U.S. working taxpayer subsidize China's and Germany Renewable and Electric Vehicle industry.  

China and Germany can sell all they want in the U.S.  

Just don't use U.S.  tax credits  to compete against U.S. manufacturers and employee your citizens.

Or manufacture solar panels and EVs in the United States ( including parts) 

Think of the jobs created : buildings, mfg equipment, maintenance, financing , supply chain, shipping etc , etc ,. etc.  The actual mfg jobs at the plants is minor when compared to the supporting jobs.  

Edited January 24, 2021 by Roch

[Purk + 2]

On 1/21/2021 at 11:17 PM, Hamish said:

Just wait....carbon taxes are next.

It’s all ready happened in Canada. It’s outrageous, we’re taxed to death.

Trudeau has implemented Carbon Pricing and Clean Fuel Standards.

never uses the word TAX , like we’re idiots !

 

[Gerry Maddoux + 3,627]

I think this is going to blow up in their faces. Every paradigm shift--especially a sea change as massive as switching from fossil fuel to wind, solar, hydrogen--requires a reasonable transition period. During that time, it is traditional to embrace the new while paying homage to the old. 

Everyone is following the California Plan, which is intent on funneling energy harvested from wind and solar into lithium-ion storage, while at the same time decommissioning perfectly reliable natural gas utility plants. They are, in effect, trying to choke the life out of anything that smacks of fossil fuels while subsidizing renewables. 

To make a shift like that puts millions of people out of a job, requires untold amounts of rare earth minerals, taking a massive risk with peoples' lives. If the 2021 summer is anything like last year's, California is going to see even more pain and very possibly--at some point--a massive mortality event. For example, California has for years preached clean energy and a "low carbon footprint" while buying electricity from Wyoming on the exchange. That Wyoming electricity comes from the Powder River coal mines--they made the utility plant much larger than the state needed for the sole purpose of selling to . . . California. This last summer, Gov. Newsom frantically called the governor of Wyoming for more juice, only to find that Wyoming needed it for its own use. Same for Nevada. Thus, the rolling brownouts. And this occurred when NG-fired utility plants were actually functioning . . . at least in some places.  

Mr. Biden shows every inclination of squeezing U.S. fossil fuels out of business. At the same time, he has blocked the Keystone Pipeline, probably forever. The Indian Tribes are threatening to block coal trains that traverse Reservation Land, even though there is a paid right-of-way. If fracking is banned on federal lands, we're going to need that heavy oil from Canada, mixed in with the light sweet shale oil from the Bakken/Williston. The situation that is rapidly building and taking form puts us at the mercy of the Saudis and OPEC . . . not a good place to be. Especially at a time when Mr. Biden calls the KSA a "pariah state." The prince takes things like that personally and he is going to screw us good given half the opportunity.

The climate change fabulists say we're looking down the barrel of an existential crisis. I think we will look down the barrel at an existential crisis from a military standpoint if we become energy-insecure: Prince Mohammed bin Salmon has already shown a willingness to sell at a discounted price to China, and that was in the most treacherous throes of the Great Pandemic. I am at the point where I think it's going to take something like an earth-shaking threat to put this back into perspective. I'm not pulling for a catastrophe, but I am aware that they seem to happen when those afflicted are most vulnerable.  

[Dan Clemmensen + 1,011]

4 hours ago, Roch said:

From IEA study May 2018 based on 2027 data and mindset.  Very dated.  Need to double or triple theses numbers.  

Can't teach an old dog new tricks.  People believe what they want to believe.  Tesla just finished Chinese factory.  Building their German factory.  Rivian shipping their EV SUVs and Pickups second half of this year.  The "OLD" mfg are scrambling.  They tried replacing the ICE engine with an electric motor and modified the drive train. That's not an EV.  Look at RIVIAN's quad electric motors architecture.  The amount of software code in their vehicles is amazing.  The "Old" auto mfg will take years to catch up.  But they will between 2023 to 2025 or go out of business.  Do or die.

ARTICLE FROM CNBC (MAY 2018)

Electric vehicles will grow from 3 million to 125 million by 2030, International Energy Agency forecasts

Just playing with the numbers: if we assume that nearly all the EVs built after 2017 will still be on the road in 2030, then we need to build an average of (125-3)/12  EV/yr in the 12-year period 2019-2030: call it 10 million/yr average. Assuming linear growth, that implies about 6 million/yr in 2025. I would call this ludicrously conservative from the perspective of today. Growth will not be linear, but more likely a compounding, like most other new technologies.

[Ward Smith + 6,615]

2 hours ago, Dan Clemmensen said:

Just playing with the numbers: if we assume that nearly all the EVs built after 2017 will still be on the road in 2030, then we need to build an average of (125-3)/12  EV/yr in the 12-year period 2019-2030: call it 10 million/yr average. Assuming linear growth, that implies about 6 million/yr in 2025. I would call this ludicrously conservative from the perspective of today. Growth will not be linear, but more likely a compounding, like most other new technologies.

Dan, these vehicles aren't computer chips. Tesla's growth was hurt in the beginning because he couldn't source enough batteries, hence he bought the battery factory. Then he had two headaches, running the auto plant and Running the battery plant.

[El Nikko + 2,145]

14 hours ago, Dan Clemmensen said:

Prices are set when a buyer and a seller agree on the price. I do not understand why anyone thinks Tesla or Amazon shares have the price they do, but clearly someone does. Same is true for bitcoin or the value of a US dollar or any other currency. Basically, the value of each of these things is a shared fantasy.

Did you notice all the money printing that happened in 2020....well now you know why

[Rob Kramer + 696]

45 minutes ago, El Nikko said:

Did you notice all the money printing that happened in 2020....well now you know why

If you compair sales or profits (losses) to others it still doesn't make sense.  Most business is valuated based on growth and profit. Growth here is not the issue but profitable is an issue. So till its proven its a belief.  I personally don't invest in anything that is earning less than 10% of enterprise value. My stonks right now are about 25% and up based on 60$ oil. 19%@ 50$. And double every 25$ so 85$ oil is 50% return (2yr payback or a Share price of 5x more @10%  repayment ) 

Edited January 24, 2021 by Rob Kramer
Typo

[Rob Kramer + 696]

4 hours ago, Dan Clemmensen said:

Just playing with the numbers: if we assume that nearly all the EVs built after 2017 will still be on the road in 2030, then we need to build an average of (125-3)/12  EV/yr in the 12-year period 2019-2030: call it 10 million/yr average. Assuming linear growth, that implies about 6 million/yr in 2025. I would call this ludicrously conservative from the perspective of today. Growth will not be linear, but more likely a compounding, like most other new technologies.

From 2006-2018 yearly global car sales grew 2 million cars per year so 2022-2025 is 6M extra cars so zero ICE displaced. Not everyone wants to accept this. Adapt or die? Like make zero profit per car like Tesla or keep pumping out profitable units like VW Toyota and Honda. Then when batteries are cheap use them at low research costs. You don't need to be Exon or BP or shell to profit in oil you don't need to sell EV to make profits in auto sales. But you do need to sell them in 1st world places to avoid sin tax and to stop paying the competition.  

So global oil demand was rising 1M b/d yoy.  Vs 2M global car sales. If you attribute all this to the cars like some do with EV sales effecting demand.  Thats 80L/day for every vehicle 365 days a year. ... something tells me it wasn't the auto sales that effected demand. 

An idea of a car lasting 11years so thats 7L a day x11 previous years auto sales growth = 77L/d also means an 11yr retirement date and oil demand therefor unchanged for 11 years. And again only on the total ICE sales difference that may be zero for the next 6 years .

Edited January 24, 2021 by Rob Kramer
Added

[El Nikko + 2,145]

16 minutes ago, Rob Kramer said:

If you compair sales or profits (losses) to others it still doesn't make sense.  Most business is valuated based on growth and profit. Growth here is not the issue but profitable is an issue. So till its proven its a belief.  I personally don't invest in anything that is earning less than 10% of enterprise value. My stonks right now are about 25% and up based on 60$ oil. 19%@ 50$. And double every 25$ so 85$ oil is 50% return (2yr payback or a Share price of 5x more @10%  repayment ) 

Yes I do agree it doesn't make any sense but we seem to be living in clown world.

I would love to hear any explanation as to why markets have soared in a year where they should have crashed. 

Personally (but I have thought this for quite a few years and it still hasn't happened) I thought we should have seen a major correction after the huge drop in March like the UK indices have done, they're basically inline with our GDP down 12% or so.

Devaluation of the dollar?

Cheap easy to borrow money due to printing pumping up stocks?

Capitol fight from other countries?

Stupidity and euphoria (we've seen that before)?

In a sane world this should have crashed through the floor but I get the impression every time the Fed announces more stimulus it adds a second (third/forth etc) wind to the markets. 

I don't have a good feeling about any of this.

 

[Roch + 537]

.

Edited January 25, 2021 by Roch

[Rob Kramer + 696]

1 hour ago, El Nikko said:

Yes I do agree it doesn't make any sense but we seem to be living in clown world.

I would love to hear any explanation as to why markets have soared in a year where they should have crashed. 

Personally (but I have thought this for quite a few years and it still hasn't happened) I thought we should have seen a major correction after the huge drop in March like the UK indices have done, they're basically inline with our GDP down 12% or so.

Devaluation of the dollar?

Cheap easy to borrow money due to printing pumping up stocks?

Capitol fight from other countries?

Stupidity and euphoria (we've seen that before)?

In a sane world this should have crashed through the floor but I get the impression every time the Fed announces more stimulus it adds a second (third/forth etc) wind to the markets. 

I don't have a good feeling about any of this.

 

All the above. Plus most companies can't fail. Free money to keep the system afloat. At the tax payers expense. So poorly run companies essentially are always the biggest winner as they receive the most help and their bottom line is changed the most. I had a list of companies on the edge of bankruptcy in a watch list now they get 30M in 0% loans 90% building rent covered and 65% of wages and can layoff as many as they want (plus their service companies can get the same thing and lower prices).... but their day will come (not that I'm rooting for it but its not fair for overpaid big wigs + lying companies [over promis under deliver] to be aided while profitable companies and their shareholders not be rewarded fairly by hard earned interest via fair competition + outperformance) 

[Dan Warnick + 6,100]

Without comment, except to say you guys have already said it before.

Republican Senator: Canceling Keystone XL Means Oil Goes to China, Other Countries, or Less Safe Rail

Republican Senator: Canceling Keystone XL Means Oil Goes to China, Other Countries, or Less Safe Rail

BY IVAN PENTCHOUKOV

 

January 24, 2021 Updated: January 24, 2021

biggersmaller 

Print

Sen. Mike Rounds (R-S.D.) criticized President Joe Biden’s revocation of the permit for the Keystone XL pipeline, saying the oil that would have traveled through the pipeline will go to China or another country or be shipped to the United States by rail, which Rounds said is less safe.

“Look, they’re going to pump the oil, and it’s going to go someplace. It’s too valuable not to, and we still need the oil. So, it’s either going to be shipped to other countries, including China, which has not the same type of environmental regulations that we have when it comes to the processing of that oil, or it could come back down into the United States to the specific locations where they actually know how to process it, to actually do that crude oil,” Rounds told Fox News in an interview aired on Jan. 23.

“This was the most efficient way to do it. It’s still going to get moved, but now they’re probably going to have to go to rail cars, and when you go to rail cars, it’s not as safe. And so, this was simply the most efficient way to move about 830,000 barrels of crude oil per day, that now will probably go either by rail or it’ll go to another country.”

Rounds said the decision will divert a lot of the oil onto rail cars, displacing grain shipments from his state. He also lamented the loss of 10,000 future jobs, including 2,000 Americans who were on the job when Biden signed the executive order gutting the project.

Keystone XL is the fourth phase of construction of the Keystone pipeline, which adds a branch connecting terminals in Hardisty, Alberta, and Steele City, Nebraska, through a shorter route using a larger diameter pipe.

It has drawn attention since environmentalists singled out the project as a symbol of the fight against fossil fuels and for natural preservation. After President Barack Obama temporarily delayed the project in 2015, President Donald Trump issued a presidential permit in 2017 to allow the project to go forward.

Biden revoked Trump’s order on Jan. 20.

TC Energy Corp. is planning to eliminate more than 1,000 construction jobs related to the halt of the pipeline expansion project. According to the Association of Oil Pipe Lines’ CEO Andy Black, the move is tantamount to “killing 10,000 jobs and taking $2.2 billion in payroll out of workers’ pockets [and] is not what Americans need or want right now.”

[Dan Warnick + 6,100]

And another from an unexpected group: the Ute Indian Tribe.

‘Your Order Is a Direct Attack’: Utah Tribe Seeks Exemption From Biden Drilling Pause

‘Your Order Is a Direct Attack’: Utah Tribe Seeks Exemption From Biden Drilling Pause

BY JACK PHILLIPS

 

January 24, 2021 Updated: January 24, 2021

biggersmaller 

Print

A Native American tribe called on the Biden administration to “immediately amend” a White House executive order “to provide an exception for energy permits and approvals on Indian lands.”

“The Ute Indian Tribe and other energy-producing tribes rely on energy development to fund our governments and provide services to our members,” the Ute Indian Tribe said in a letter to Acting Secretary of the Interior Scott de la Vega last week. “Your order is a direct attack on our economy, sovereignty, and our right to self-determination. Indian lands are not federal public lands.

“Any action on our lands and interests can only be taken after effective tribal consultation.”

One of Biden’s orders requires the agency to “conduct a review of the monument boundaries and conditions of the Grand Staircase-Escalante, Bears Ears, Northeast Canyons, and Seamounts Marine National Monuments” and will be done “in consultation with other agencies and Tribal governments, to determine whether restoration of the monument boundaries and conditions would be appropriate,” according to a statement from the Interior Department on Jan. 21,

The Epoch Times has reached out to the agency for comment.

The Ute tribal lands produce about 45,000 barrels of crude oil per day in the Uintah Basin, along with about 900 million cubic feet per day of natural gas, according to a document the tribe filed with the Bureau of Indian Affairs in 2017, Reuters reported.

The tribe added that the order was issued “in violation [of] our government-to-government relationship,” as well as of previous federal directives about coordinating with Native American tribal governments.

The Jan. 20 executive order suspended the authority of Interior Department offices to issue new fossil fuel permits and leases—a move that could be a first step in delivering on Biden’s campaign promise to ban all new federal drilling permits.

“The Order does not impact existing ongoing operations under valid leases and does not preclude the issuance of leases, permits, and other authorizations by those specified. In addition, any actions necessary in the event of an incident that might pose a threat to human health, welfare, or safety will continue,” the Interior Department said in the statement.

Other Native American tribes—including the Mandan, Hidatsa, and Arikara Nation in North Dakota—are also big producers of oil and gas and might push back against the order.

Some GOP lawmakers, meanwhile, said the move to suspend oil and natural gas drilling will imperil tens of thousands of American jobs and raise energy prices for U.S. families.

Reuters contributed to this report.

[Roch + 537]

On 1/22/2021 at 10:45 AM, Gerry Maddoux said:

May be his way "out of the box" as a great # of leases were permitted during the several months leading up to the election--probably enough to last those companies through a four-year moratorium. 

Goldman says Biden plan bullish for oil.  They may be two years early. If then ? 

DON'T FORGET TO READ THE FINE PRINT

We don't have to wait for Kamala to STOP ALL  DRILLING ON FEDERAL LANDS. 

Biden Exec Order will only allow 2 more years drilling and production on already leased Federal Lands . Then it stops.

This will increase shale production from these leased properties ( you say 24% of U.S. production ) for those two years. That will be a lot of oil.  It will wreak havoc on oil prices. 

Production will at least double . Probably more.  

Senator Murkowski (R-AK) will have some explaining to do to her donors.  She's going to miss The Donald. 

I say Biden's Executive Order , but we all know he's not capable of devising such a plan

IT'S BRILLIANT

1.  AOC and Anti-Fracking crowd ecstatic they stopped all fracking on Federal Lands.

2.  U.S. production skyrockets for two years which will keep gasoline prices low for two years , thru the 2022 Midterm elections.  

3.  Actual shale employment will now go up for at least two years.

Win - Win for the new Totalitarian Administration.

Edited January 26, 2021 by Roch

[Rob Kramer + 696]

2 hours ago, Roch said:

Goldman says Biden plan bullish for oil.  They may be two years early. If then ? 

DON'T FORGET TO READ THE FINE PRINT

We don't have to wait for Kamala to STOP ALL  DRILLING ON FEDERAL LANDS. 

Biden Exec Order will only allow 2 more years drilling and production on already leased Federal Lands . Then it stops.

This will increase shale production from these leased properties ( you say 24% of U.S. production ) for those two years. That will be a lot of oil.  It will wreak havoc on oil prices. 

Production will at least double . Probably more.  

Senator Murkowski (R-AK) will have some explaining to do to her donors.  She's going to miss The Donald. 

I say Biden's Executive Order , but we all know he's not capable of devising such a plan

IT'S BRILLIANT

1.  AOC and Anti-Fracking crowd ecstatic they stopped all fracking on Federal Lands.

2.  U.S. production skyrockets for two years which will keep gasoline prices low for two years , thru the 2022 Midterm elections.  

3.  Win - Win for the new Totalitarian Administration.

It moves production doesnt add new production. They can move drill and frac rigs they can't afford more rigs. So yes the production in that area will rise to get their $ worth but at the expense of another area (that they can hold). And depending on what area has higher production rates is if there's any growth or how the decline will look after the 2 yrs.

We will see. your short at today's price? I think its a floor. (Again with covid who knows but I really can't see more than 3$ falling off the price) for every bear there is a bull :).

[Roch + 537]

10 hours ago, Rob Kramer said:

It moves production doesnt add new production. They can move drill and frac rigs they can't afford more rigs. So yes the production in that area will rise to get their $ worth but at the expense of another area (that they can hold). And depending on what area has higher production rates is if there's any growth or how the decline will look after the 2 yrs.

We will see. your short at today's price? I think its a floor. (Again with covid who knows but I really can't see more than 3$ falling off the price) for every bear there is a bull :).

Disagree.  

The production increase will be substantial.

It will put pressure on ALL shale producers.  

Balkan oil will be less competitive for two years.

Anyone telling you what oil prices will be in two years is full of it.  It's a wild ass guess.  Too many moving parts.  Too many cross currents.

The only hope for $80 , $90 , $100 oil is major Middle East conflict.  Not some Saudi false flag gimmick.

Looks like Lockdowns could come back due to South Africa covid Mutation.

Also, new Mutation discovered in Japan.  Not much info yet but they are concerned.  

If GM figure of 24% of U.S. production is from Federal leased land I could see about 2 mm bbls/day added.   

That 2 mm added to all the plans from OPEC members to increase production, plus Guyana , plus Suriname , plus Brazil , plus Iran , plus Libya , etc , etc 

Tough for anyone to predict prices going out more than a few months .  If I had to guess I think it ranges between high forty's to upper $50's .

When Pandemic is over there will be a surge in pent-up  travel demand, thus increase in oil price.  But for how long.

You have to wonder , is that the surge we have seen since the vaccines were announced Nov 9th a built in surge anticipating end of pandemic , thus no future surge ?

? 

 

Edited January 26, 2021 by Roch

[Gerry Maddoux + 3,627]

^

I think you're being too pessimistic about the oil business and too optimistic about the renewables. I agree that EV's and solar/wind are coming on strong. However, I would stress that the exploration deficit is likely more dramatic than people realize. Saudi Arabia is using more and more seawater to waterflood their reservoir, and the salinity is only 10% of the intrinsic salinity of the reservoir--which is causing ongoing damage. Libya has trouble with sustained production. Iran and KSA (and maybe Israel) are almost certainly going to tangle. Guyana is big but man there's a lot of gas to get rid of. Suriname is very likely the same way. 

Natural gas is going to be the chokepoint for oil production in this decade. Indiscriminate venting and flaring will be stopped soon. With massive amounts of NG coming out of the shale basins, as well as Guyana and Suriname, not to mention Russia, Australia and others, the world is going to be awash with LNG. 

This will also be the decade of electricity: it will be king, what with all the new EV's that need charging. I can see a world of solar and wind producing electricity, but it's going to mean a massive number of units and that takes time. Someday there will be a solar cloud event of disastrous proportions. Nothing is free in this old world, and nothing is certain either.

[Rob Kramer + 696]

5 hours ago, Roch said:

Disagree.  

The production increase will be substantial.

It will put pressure on ALL shale producers.  

Balkan oil will be less competitive for two years.

Anyone telling you what oil prices will be in two years is full of it.  It's a wild ass guess.  Too many moving parts.  Too many cross currents.

The only hope for $80 , $90 , $100 oil is major Middle East conflict.  Not some Saudi false flag gimmick.

Looks like Lockdowns could come back due to South Africa covid Mutation.

Also, new Mutation discovered in Japan.  Not much info yet but they are concerned.  

If GM figure of 24% of U.S. production is from Federal leased land I could see about 2 mm bbls/day added.   

That 2 mm added to all the plans from OPEC members to increase production, plus Guyana , plus Suriname , plus Brazil , plus Iran , plus Libya , etc , etc 

Tough for anyone to predict prices going out more than a few months .  If I had to guess I think it ranges between high forty's to upper $50's .

When Pandemic is over there will be a surge in pent-up  travel demand, thus increase in oil price.  But for how long. But you have to wonder , is that the surge we have seen since the vaccines were announced ? 

 

You said short oil then said high forties to upper 50s ... if your talking wti (i said i was talking brent) then your quoting my 3$ less than this morning is a floor (and thats fine I guess we just have a different opinion on what is good or bad for oil price) -short term

... I just don't think your price prediction is as bearish as your talk is.  high 40 $ oil is no threat anyone is concerned with. Mid 30s would be scary for them but they have hedged at high 40s. 

And I am aware 2year out prices are imagined until they happen but if you have an opinion at least express it. Something is going to be the price so lay a foundation for your beliefs of what that is. I'm saying shale flat 1yr .growth 700k barrels next year or more with high prices. Global  flat to low growth, opec at small withholding of production.and prices of 70+ and a spike at some point around 2022 year end. -medium term

No EV oil demand loss . At least for 11 years from 2018 levels. So 2030 ish. At 100M b/d with 70$ average price now to then or more (but 10 years is quite the far prediction).-long term.

Edited January 25, 2021 by Rob Kramer
Added onto it sorry if its too long

[Eyes Wide Open + 3,554]

10 hours ago, Dan Warnick said:

And another from an unexpected group: the Ute Indian Tribe.

‘Your Order Is a Direct Attack’: Utah Tribe Seeks Exemption From Biden Drilling Pause

‘Your Order Is a Direct Attack’: Utah Tribe Seeks Exemption From Biden Drilling Pause

BY JACK PHILLIPS

 

January 24, 2021 Updated: January 24, 2021

biggersmaller 

Print

A Native American tribe called on the Biden administration to “immediately amend” a White House executive order “to provide an exception for energy permits and approvals on Indian lands.”

“The Ute Indian Tribe and other energy-producing tribes rely on energy development to fund our governments and provide services to our members,” the Ute Indian Tribe said in a letter to Acting Secretary of the Interior Scott de la Vega last week. “Your order is a direct attack on our economy, sovereignty, and our right to self-determination. Indian lands are not federal public lands.

“Any action on our lands and interests can only be taken after effective tribal consultation.”

One of Biden’s orders requires the agency to “conduct a review of the monument boundaries and conditions of the Grand Staircase-Escalante, Bears Ears, Northeast Canyons, and Seamounts Marine National Monuments” and will be done “in consultation with other agencies and Tribal governments, to determine whether restoration of the monument boundaries and conditions would be appropriate,” according to a statement from the Interior Department on Jan. 21,

The Epoch Times has reached out to the agency for comment.

The Ute tribal lands produce about 45,000 barrels of crude oil per day in the Uintah Basin, along with about 900 million cubic feet per day of natural gas, according to a document the tribe filed with the Bureau of Indian Affairs in 2017, Reuters reported.

The tribe added that the order was issued “in violation [of] our government-to-government relationship,” as well as of previous federal directives about coordinating with Native American tribal governments.

The Jan. 20 executive order suspended the authority of Interior Department offices to issue new fossil fuel permits and leases—a move that could be a first step in delivering on Biden’s campaign promise to ban all new federal drilling permits.

“The Order does not impact existing ongoing operations under valid leases and does not preclude the issuance of leases, permits, and other authorizations by those specified. In addition, any actions necessary in the event of an incident that might pose a threat to human health, welfare, or safety will continue,” the Interior Department said in the statement.

Other Native American tribes—including the Mandan, Hidatsa, and Arikara Nation in North Dakota—are also big producers of oil and gas and might push back against the order.

Some GOP lawmakers, meanwhile, said the move to suspend oil and natural gas drilling will imperil tens of thousands of American jobs and raise energy prices for U.S. families.

Reuters contributed to this report.

A little note here: US law is not enforceable on tribal reservation land. The feds have absolutely no standing what so ever. Now with that being said if anyone believes Native American's are not capitalists, assuming that would be foolish, the fed will compensate them for there losses behind the scene's they always do.

Edited January 25, 2021 by Eyes Wide Open

[Gerry Maddoux + 3,627]

Poor Biden has no idea what he is doing. 

It is painful to watch this guy.

I can only imagine what it will be like when he hits eighty in a couple of years.

[Rob Kramer + 696]

57 minutes ago, Gerry Maddoux said:

Poor Biden has no idea what he is doing. 

It is painful to watch this guy.

I can only imagine what it will be like when he hits eighty in a couple of years.

https://mobile.reuters.com/article/amp/idUSL4N2K0395?__twitter_impression=true

Link is to HESS oil 41% capex on Guyana expects 2021 less production than 2020. What is exon saying about 2021 oil production?

"Hess forecast net production to average about 310,000 barrels of oil equivalent per day (boepd) in 2021, excluding Libya, compared with 2020 estimate of 325,000 boepd."

add - exxon in its investor day (mar 3rd this year) 2020 had 30-35B capex . Now says 16-19B capex. 2021 ... not growth story. Can't find expected decline or growth tho.

Edited January 25, 2021 by Rob Kramer
Added quote

[Dan Warnick + 6,100]

22 minutes ago, Gerry Maddoux said:

Poor Biden has no idea what he is doing. 

It is painful to watch this guy.

I can only imagine what it will be like when he hits eighty in a couple of years.

It is painful to watch.  I am not being facetious or biased in this feeling.  One simply cannot ignore the feeling that he is being used.  Some would call it elder abuse.  His decline has seemed rather rapid.  Remember just a short 5-6 years ago?  Still seemed to be keeping it all together.  But one cannot watch him talking and think his brain is still processing the details.  Certainly not the details needed to run an office in a major corporation, let alone the Government of the United States.

I get that he may have made the cognitive decision to step up and help his party, or even that he has been led to believe that his country needs him one last time.  But his family and friends, if they actually care about the guy, should tell him in no uncertain terms that they can find someone else, that they will get along without him putting himself through this.  That he should "come on home and leave everything to us now.  You've done your part, and it was enough."

[El Nikko + 2,145]

44 minutes ago, Dan Warnick said:

It is painful to watch.  I am not being facetious or biased in this feeling.  One simply cannot ignore the feeling that he is being used.  Some would call it elder abuse.  His decline has seemed rather rapid.  Remember just a short 5-6 years ago?  Still seemed to be keeping it all together.  But one cannot watch him talking and think his brain is still processing the details.  Certainly not the details needed to run an office in a major corporation, let alone the Government of the United States.

I get that he may have made the cognitive decision to step up and help his party, or even that he has been led to believe that his country needs him one last time.  But his family and friends, if they actually care about the guy, should tell him in no uncertain terms that they can find someone else, that they will get along without him putting himself through this.  That he should "come on home and leave everything to us now.  You've done your part, and it was enough."

I also actually feel sorry for him. I listened to some stuff he said years or decades ago and he was a very smart man.

And democrats back then were far more 'right wing' than modern GOP or UK Conservative party.

It real makes you think