Is this what you are refering to? This is what was announced on Oct 6. Reading through the document we will not see any sales until next year March and September of 2023. Gulf of Mexico OCS Oil and Gas Lease Sales 259 and 261 This Draft Supplemental Environmental Impact Statement (EIS) re-analyzes a Federal action, i.e., a Gulf of Mexico (GOM) Outer Continental Shelf (OCS) lease sale. This document is expected to be used to inform the lease sale processes for GOM Oil and Gas Lease Sales 259 and 261, which BOEM is required to hold by the end of March and September 2023, respectively as directed in the Inflation Reduction Act of 2022 (Pub. L. No. 117-169, enacted Aug. 16, 2022). This Supplemental EIS tiers from and updates the Gulf of Mexico OCS Oil and Gas Lease Sales: 2017-2022; Gulf of Mexico Lease Sales 249, 250, 251, 252, 253, 254, 256, 257, 259, and 261; Final Multisale Environmental Impact Statement (2017-2022 GOM Multisale EIS) and Gulf of Mexico OCS Lease Sale: Final Supplemental Environmental Impact Statement 2018 (2018 GOM Supplemental EIS), and it incorporates by reference all of the relevant material in the 2017-2022 GOM Multisale EIS and 2018 GOM Supplemental EIS. Gulf of Mexico Lease Sales 259 and 261 Supplemental Environmental Impact Statement This Draft Supplemental EIS analyzes the potential impacts of the proposed actions on the marine, coastal, and human environments. It is important to note that this Draft Supplemental EIS was prepared using the best information that was publicly available at the time the document was prepared. This Supplemental EIS’s analysis focuses on identifying and disclosing the baseline conditions and potential environmental effects of oil and natural gas leasing, exploration, development, and production in the Gulf of Mexico (GOM). This Supplemental EIS will also inform the lease sale processes for GOM oil and gas Lease Sales 259 and 261, which BOEM is required to hold by the end of March and September 2023, respectively, as directed in the Inflation Reduction Act of 2022 (Public Law 117-169, enacted August 16, 2022). While BOEM has no discretion on whether to hold these lease sales, BOEM is preparing this Supplemental EIS to follow its normal leasing process to the fullest extent possible.
Excellent thread and Intel Brief from the Soufan Center on the Karish fields in the Eastern Mediterranean about what appears to be a negotiated resolution, which is heartening, even if I wish there wasn’t more drilling generally. But presuming Hezbollah doesn’t blow it up, nice to see a negotiated resolution
Should US taxpayers fund higher seawalls in TX to protect oil refineries fro storm surge? Including the countries largest refinery controlled by SA? Oil industry wants government to build seawall to protect refineries from climate change effects
Release the restriction? Why would Oil Companies spend money to lower profit margins? It’s a cash cow for them right now.
Well no sales until March 2023 so at this point we have no idea what oil companies will do. It's a wait and see situation because they cannot do anythig at this point.
What the US needs is more refining capacity. Whether that means expanding the existing ones or building a new one, I don't know.
Low oil prices are bad for their business. By the numbers: Oil industry awash in permits, leases while pushing for more drilling - Center for Western Priorities
chinese covid outbreaks and recession fears are pushing oil down for the second day in a row Oil falls on fears of global recession, China COVID flare-up | Reuters LONDON, Oct 11 (Reuters) - Oil prices fell about 2% on Tuesday, extending the previous session's almost 2% decline, as recession fears and a flare-up in COVID-19 cases in China raised concerns over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation remains a continuing problem. Brent crude was down $1.63, or 1.7%, to $94.56 a barrel by 1335 GMT. U.S. West Texas Intermediate crude dropped $1.82, or 2%, to $89.31.
Cobalt Mining So this dirty land destroying project can power 2.8 million cars. What happens when those batteries die? Can you imagine how dirty the Chinese projects are?
My understanding is the main issue are access and egress routes for oil that would need to be built. In the grand scheme of things it's not just Federal regulations oil companies need to abide by as State regulations are also involved. Given the mood of the times you also have to fight the environmentalists as well as the climate activists. The shutdown of the Keystone XL pipeline and the call to shutdown existing oil pipe lines (Michigan) doesn't give oil companies any reason to expect new ventures will proceed any better. The fact is we need the oil but we also tie the hands of the oil companies in knots. As I recall when the Alaska pipeline was built it took an act of congress to get the right of way for the pipeline. As for the document that is referenced that is for off shore drilling in Gulf of Mexico only as I understand it. Of course transport for any oil would have to be built as well as platforms for drilling. While this may alleviate some of the issues concerning egress routes pipes still need to be laid to an onshore facility. And this will not be opened for bidding on leases until Mar 2023. When it come the Federal lands you're not going to get this type of commitment from the current congress, the Biden administration or the State. given these facts why would any oil company want to take on drilling and exploration for oil fields? S.2950 — 94th Congress (1975-1976) Alaskan Natural Gas Pipeline Authorization Act - Expresses the intent of Congress that the Alaskan natural gas pipeline be constructed promptly, without further administrative or judicial delay or impediment. Declares that the most efficient and economical method available for the transportation of Alaskan natural gas is a pipeline system from northern Alaska, across Canada, to the lower forty-eight States. Directs the Federal Power Commission to issue all necessary permits and authorizations in order to expedite the construction and operation of such pipeline within 60 days of the date of enactment of this Act. Grants the holders of such permits the powers of eminent domain under the Natural Gas Act. Directs the Secretary of the Interior and other appropriate Federal officials to issue all necessary permits and to take appropriate action within 60 days to expedite the enforcement of all rights-of-way related to the construction and operation of such pipeline. Requires compliance with requirements of the Mineral Leasing Act of 1920 relating to rights-of-way for pipelines through Federal lands. Exempts such pipeline from requirements concerning (1) environmental protection, (2) technical and financial capacity of applicants, (3) public hearings, (4) licensing requirements for crude oil under the Export Administration Act of 1969, and (5) furnishing of specified information and reports. U.S. Regulation of Oil and Gas Operations States regulate the operation of oil pipelines, as well as the construction and operation of natural gas gathering lines (small pipelines that move gas from the well to a processing facility or transmission line).28,29 The federal Department of Transportation (DOT)’s Pipeline and Hazardous Materials Safety Administration regulates the operation of natural gas pipelines that provide long-distance transmission and local customer distribution,30 as well as underground natural gas storage.31 The EPA regulates air emissions from refineries and fuel distribution systems, including pipelines, trucks, and fuel dispensing facilities or service stations.32 The Federal Energy Regulatory Commission (FERC)33 regulates the transportation of oil through interstate oil pipelines but does not oversee pipeline operations. FERC also reviews applications for the construction and operation of natural gas pipelines and liquefied natural gas (LNG) export and import terminals to certify their compliance with safety and environmental laws.
Cobalt isn't being used much anymore. Most of the new chemistries are cobalt free. Old batteries will be recycled.
Said it before. Although it was the correct policy at the time it's also the reason the price of petroleum including gas at the pump skyrocketed in 2021 and the first half of 2022.
Just a reminder, technology is not stagnant. Battery power: five innovations for cleaner, greener electric vehicles https://scitechdaily.com/cleaner-greener-batteries-smashing-the-limits-of-power-storage/ ‘Smarter, cleaner, safer, and longer-lasting’ EV battery technology sees US$10.5m investment - Electric & Hybrid Vehicle Technology International Inside Clean Energy: Solid-State Batteries for EVs Make a Leap Toward Mass Production - Inside Climate News
I will agree that we need a better national pipeline policy. The interstate highway system would seem to make for great corridors for pipelines and the lease revenue could be used to help with road maintenance costs. The keystone xl is an outlier though as it mostly moved sour canadian oil to the coast for export as the refineries have retooled to process the light sweet coming from GOM and fracking and are not in a position to process all that thick sour crude from Canada I will disagree that this is the reason that exploratory drilling is not occurring on projects that would move the needle with respect to production. Fracked wells producing 2000 barrels per day don't move the needle as the great majority of them are just replacing diminished production from older wells; only GOM development will move the needle much and the capital costs are too intensive without some sort of certainty with respect to the longer-term price. Change the rules to allow the SPR to contract for that oil at a fixed price over an extended number of years and then the financing will show up to develop those capital intensive projects.
Gas and oil have low elasticity of demand with regard to pricing. If you're an oil company CEO and it costs you $50 per barrel of oil produced, there is no incentive to spend billions in capital to lower your profit margins.
