Team Biden = Clueless when it comes to energy

Team Biden = Clueless when it comes to energy

Postby dan_s » Wed Nov 24, 2021 12:36 pm

President Biden said today that he must tap into the nation’s strategic petroleum reserves to cut gasoline prices ahead of the holidays. Speaking at the White House before leaving to spend the holiday in Nantucket, Mass., Biden said the gasoline price spikes in the U.S., which are now averaging more than $3.40/gallon across the country, are not because of his policies. He said the market has been slow to meet the intense demand "because oil-producing companies and large companies have not ramped up production quick enough.” < It is NEVER the fault of Team Biden. I'm surprised they didn't blame it on Trump.

Even the media knows Biden's "Energy Plan" is stupid.

Oil prices rise despite release of reserves: Here’s why.
The Biden administration announced Tuesday the US will release 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) in hopes of lowering the cost of gasoline as drivers face the highest prices in years. The White House said the release will be taken in parallel with other major energy consuming nations including China, India, Japan, Republic of Korea and the UK. Biden’s announcement goes against domestic oil producers, with the Independent Petroleum Association of America denouncing opening the SPR in this instance as a way to "manipulate" the market.

The SPR currently has more than 600 million barrels stored, which is a decrease of 50 million from last summer, which was released in accordance to enacted legislation, Andrew Lipow, President of Lipow Oil Associates told

“The 50 million barrels release is divided into two parts: there is an exchange of 32 million barrels and a sale of 18 million barrels,” he explained.

The exchange is a loan of crude oil, Lipow said, adding the crude oil must be received between January and April of next year, and paid back sometime between 2022 and 2024. “For example, the way the programme works is if you receive one barrel of oil in January of 2022, you might have to return 1.2 barrels in December 2023 because oil is worth much more in January of next year than it is in December of 2023. So, this part of the release does not get more oil out of the ground, it just moves supply into the near term,” he said. < MY TAKE: This will push oil over $100/bbl by the end of June, 2022 and crush the Democrats in the midterm elections.

Energy Secretary Granholm (a political hack) points finger at industry: When asked why the U.S. hasn’t returned to its pre-pandemic oil production levels, Granholm pointed to oil companies’ reluctance to spend on new output.

“Oil production is lagging behind as the economy roars back to life after the shutdown,” she said. “[Companies] have not rehired. They have not turned on the rigs. They have not taken advantage of the permits that they have on the land that they have,” Granholm added.
Dan Steffens
Energy Prospectus Group
Posts: 27309
Joined: Fri Apr 23, 2010 8:22 am

Re: Team Biden = Clueless when it comes to energy

Postby Fraser921 » Wed Nov 24, 2021 1:41 pm

What good is the oil if you can't move it?

Ferc is getting religion in this case:

The Federal Energy Regulatory Commission (FERC) is (surprisingly, under the current regime) sticking up for its decision made during the Trump administration to allow Equitrans’ 303-mile Mountain Valley Pipeline (MVP) from West Virginia into Virginia to continue working on completion of the 92% done project. A coalition of Big Green groups has repeatedly, viciously challenged and tried to block completion of the pipeline, more than doubling costs for the project due to court delays. On Friday, FERC filed a defense of its orders from late last year to allow MVP to restart construction on all but a very few locations still being litigated (primarily a small section through Jefferson National Forest).

But waffling in this case ie. a completed operating pipe. No not their fault:

With permission from FERC during the golden Trump years, Spire built the Spire STL pipeline–a 65-mile pipeline that connects to and flows Marcellus/Utica gas from the Rockies Express (REX) pipeline to residents and businesses in the St. Louis, Missouri area. The pipeline went online in late 2019

The radicals at the Environmental Defense Fund (EDF) thought it would be fun to see if they could attack the Spire STL pipeline by telling a court that FERC should never have OK’d it in the first place. In June of this year, three far-left Democrat judges on the U.S. Court of Appeals for the D.C. Circuit sided with EDF and overturned the certificate FERC issued for building Spire STL, meaning the pipeline must now shut down unless FERC steps in to intercede

and this one:

FERC Chairman Richard “Dick” Glick pontificated that so-called global warming considerations must be made when evaluating new pipeline projects. He has used that excuse for years to vote against every single new pipeline project brought before him.

I wonder who is funding these anti groups?

Russia has been fighting to regain its top-dog position ever since. Yesterday Gazprom issued a propaganda press release (below) that directly attacks the U.S. shale industry and our LNG exports, trying to paint our natgas exports as “dirty”–the exact word they use.

This would be funny if not so serious. Russia doesn’t have environmental standards. They don’t give a hoot about protecting the environment in their drilling for natural gas. They trash Arctic wildlife refuges. They trash locations in their own country. Yet they have the audacity to call our highest-in-the-world environmental standards for extracting natural gas via shale “dirty” and are attempting to convince the world to avoid importing our LNG. Laughable–and angering.
Last edited by Fraser921 on Wed Nov 24, 2021 1:49 pm, edited 2 times in total.
Posts: 635
Joined: Mon Mar 22, 2021 11:48 am

Re: Team Biden = Clueless when it comes to energy

Postby mikelp » Wed Nov 24, 2021 1:43 pm

Energy Secretary Granholm is clueless, has no idea how much oil the U.S. consumes daily,
she's about as qualified as the other Cabinet members on the Biden clown bus
Posts: 139
Joined: Thu Jun 12, 2014 10:15 am

Return to The View from Houston

Who is online

Users browsing this forum: No registered users and 12 guests