Biden energy policy is in decent shape

[Tigbitties38]

There is lots of misinformation about our energy state. Read the entire article to see how much bullshit is out there.

From the link.

* The U.S. already provides more gas to the EU than Russia did at its peak, and now the EU buys 80% less from Russia than they did before Russia’s attack on Ukraine.

* Federal leases under Biden far exceed those under Trump—with
3,557 permits for oil and gas drilling on public lands in Biden’s first year, far outpacing the Trump Administration’s first year total of 2,658, with record numbers of unused leases. That’s the case even though all federal leases combined account for less than 20% of all U.S. oil and gas production.

Many more facts in article.


https://fortune.com/2022/10/21/biden...isinformation/

[Levianon17]

Originally Posted by Tigbitties38

There is lots of misinformation about our energy state. Read the entire article to see how much bullshit is out there.

From the link.

* The U.S. already provides more gas to the EU than Russia did at its peak, and now the EU buys 80% less from Russia than they did before Russia’s attack on Ukraine.

* Federal leases under Biden far exceed those under Trump—with
3,557 permits for oil and gas drilling on public lands in Biden’s first year, far outpacing the Trump Administration’s first year total of 2,658, with record numbers of unused leases. That’s the case even though all federal leases combined account for less than 20% of all U.S. oil and gas production.

Many more facts in article.


https://fortune.com/2022/10/21/biden...isinformation/

Big Whoop my Electric and Gas Bill haven't changed. It seems Biden benefits other countries more than this one.

[Tiny]

Don't believe everything you read Tigbitties.

Originally Posted by Tigbitties38

There is lots of misinformation about our energy state. Read the entire article to see how much bullshit is out there.

From the link.

* The U.S. already provides more gas to the EU than Russia did at its peak...

This is baloney. Total U.S. gas exports to all countries, including sizeable volumes to China, India, South Korea, and Japan, are running about 3.6 TCF (trillion cubic feet) per year:

https://www.eia.gov/dnav/ng/ng_move_expc_s1_m.htm

At its peak in 2018, Russian exports to Europe were 7.1 TCF (201 billion cubic meters):

https://www.reuters.com/business/ene...pe-2022-02-17/

Originally Posted by Tigbitties38

* Federal leases under Biden far exceed those under Trump—with
3,557 permits for oil and gas drilling on public lands in Biden’s first year, far outpacing the Trump Administration’s first year total of 2,658, with record numbers of unused leases. That’s the case even though all federal leases combined account for less than 20% of all U.S. oil and gas production.

Many more facts in article.

https://fortune.com/2022/10/21/biden...isinformation/

The statement that new federal leases under Biden far exceed those under Trump is almost certainly untrue. During the first 19 months of his administration, through July or August of last year, the interior department had issued only 126,228 acres of leases. During the first 19 months of the Trump administration, 4.4 million acres of leases were issued. Going back to Kennedy, previously the least number of acres issued during the first 19 months of an administration were 1.79 million, under President Johnson.

https://www.wsj.com/articles/federal...en-11662230816

Now part of the deal with Joe Manchin, to get the Inflation Reduction Act passed, was that the government would have to auction off more oil and gas leases. And, as discussed below, Biden appears to have seen the light -- kneecapping oil and gas companies can be a political liability when gasoline prices are high. So maybe we'll see significant lease acreage offered going forward. But it's hard to say. It's looking like the White House is already reneging on other commitments to Manchin.

Now, I don't question that 3,557 drilling permits were issued. Biden campaigned on issuing no more drilling permits on federal leases, and suspended their issuance during the early part of his term. There were court challenges, to the suspension of issuance of new drilling permits and new oil and gas leases. Also perhaps the Biden administration realized this would be a political football at such time as gasoline prices increased.

In any event, when the Biden administration resumed issuing drilling permits, oil companies started stockpiling them. They didn't know when or if the administration would suspend issuance of permits again. With the permits, they'd still be able to drill, until the permits ran out or expired. That's why you see the big number, not because Biden's a friend of the oil industry.

Biden's campaign promises to stop issuing drilling permits on federal leases, stop issuing new federal oil and gas leases, and set us on the course to net "0" carbon in the not too distant future, have definitely reduced capital spending in the oilfield. And the threats of two other top contenders for the Democratic presidential nomination in 2020 (Elizabeth Warren and Bernie Sanders) to ban fracking as soon as they took office didn't help either. The risks of sinking a ton of money into oil and gas investment and ending up with stranded assets have increased considerably since the Trump and Obama presidencies.

[Ripmany]

What about the engery?

[Tigbitties38]

I don't believe everything I read.

Do you believe the below information? It comes from the source you used.

PS There were multiple bullets in the article. If you would have read the article you would have seen the peak they were talking about was in Feb. when they invaded.

From the previous link.

* They underestimated the speed of liquified natural gas (LNG) to backfill for Russian gas to the EU (the U.S. now sells more gas to the EU than Russia did at its peak in February). Fully 86% of Russian gas went to the EU but the EU didn’t need it as much as Putin needed to sell it to them.

U.S. liquefied natural gas exports to Europe increased during the first 4 months of 2022

During the first four months of 2022, the United States exported 74% of its liquefied natural gas (LNG) to Europe, compared with an annual average of 34% last year, according to our recently released Natural Gas Monthly and EIA estimates for April 2022. In 2020 and 2021, Asia had been the main destination for U.S. LNG exports, accounting for almost half of the total exports.

U.S. LNG exports averaged 11.5 billion cubic feet per day (Bcf/d) during the first four months of 2022, an 18% increase compared with the 2021 annual average. The increase in U.S. LNG exports was driven by additional export capacity at Sabine Pass (Train 6) and Calcasieu Pass (first five blocks) that came online this year and by high LNG demand, particularly in Europe.

Since December 2021, the European Union (EU) and the United Kingdom have been importing record-high levels of LNG, primarily because of low natural gas storage inventories. High spot natural gas prices at the European trading hubs incentivized global LNG market participants with destination flexibility in their contracts to deliver more LNG supplies to Europe. Additional LNG imports in Europe and a mild winter offset lower natural gas pipeline imports from Russia.

The United States became the largest LNG supplier to the EU and United Kingdom in 2021, accounting for 26% of total imports. In the first four months of 2022, LNG imports from the United States to the EU and the United Kingdom have more than tripled, compared with 2021, averaging 7.3 Bcf/d and accounting for 49% of total imports, according to data from CEDIGAZ. LNG imports from Russia and Qatar accounted for 14% each (2.1 Bcf/d).

During the first four months of 2022, U.S. LNG exports to Asia declined by 51%, averaging 2.3 Bcf/d compared with 4.6 Bcf/d (annual average) in 2021. China and South Korea were top destinations for U.S. LNG exports in 2021. This year, however, China received only six LNG cargoes from the United States in January–April 2022 (0.2 Bcf/d, compared with 1.2 Bcf/d in 2021) because pandemic-related lockdown measures, as well as a mild winter and high LNG spot prices, reduced demand for spot LNG imports. U.S. LNG exports to South Korea and Japan also declined by 0.6 Bcf/d and 0.5 Bcf/d, respectively.

https://www.eia.gov/todayinenergy/detail.php?id=52659



Russia’s natural gas pipeline exports to Europe decline to almost 40-year lows

Russia’s natural gas exports by pipeline to the European Union (EU) and the United Kingdom (UK) declined by almost 40% during the first seven months of 2022 compared with the same period in 2021 and by almost 50% compared with the previous five-year (2017–21) average, according to data from Refinitiv Eikon. In mid-July 2022, exports declined to 1.2 billion cubic feet per day (Bcf/d), the lowest level in nearly 40 years. Between 2016 and 2020, Russia had accounted for about one-third of the EU’s and the UK’s supply of natural gas via pipeline, according to Eurostat.


https://www.eia.gov/todayinenergy/detail.php?id=53379

Originally Posted by Tiny

Don't believe everything you read Tigbitties.



This is baloney. Total U.S. gas exports to all countries, including sizeable volumes to China, India, South Korea, and Japan, are running about 3.6 TCF (trillion cubic feet) per year:

https://www.eia.gov/dnav/ng/ng_move_expc_s1_m.htm

At its peak in 2018, Russian exports to Europe were 7.1 TCF (201 billion cubic meters):

https://www.reuters.com/business/ene...pe-2022-02-17/




The statement that new federal leases under Biden far exceed those under Trump is almost certainly untrue. During the first 19 months of his administration, through July or August of last year, the interior department had issued only 126,228 acres of leases. During the first 19 months of the Trump administration, 4.4 million acres of leases were issued. Going back to Kennedy, previously the least number of acres issued during the first 19 months of an administration were 1.79 million, under President Johnson.

https://www.wsj.com/articles/federal...en-11662230816

Now part of the deal with Joe Manchin, to get the Inflation Reduction Act passed, was that the government would have to auction off more oil and gas leases. And, as discussed below, Biden appears to have seen the light -- kneecapping oil and gas companies can be a political liability when gasoline prices are high. So maybe we'll see significant lease acreage offered going forward. But it's hard to say. It's looking like the White House is already reneging on other commitments to Manchin.

Now, I don't question that 3,557 drilling permits were issued. Biden campaigned on issuing no more drilling permits on federal leases, and suspended their issuance during the early part of his term. There were court challenges, to the suspension of issuance of new drilling permits and new oil and gas leases. Also perhaps the Biden administration realized this would be a political football at such time as gasoline prices increased.

In any event, when the Biden administration resumed issuing drilling permits, oil companies started stockpiling them. They didn't know when or if the administration would suspend issuance of permits again. With the permits, they'd still be able to drill, until the permits ran out or expired. That's why you see the big number, not because Biden's a friend of the oil industry.

Biden's campaign promises to stop issuing drilling permits on federal leases, stop issuing new federal oil and gas leases, and set us on the course to net "0" carbon in the not too distant future, have definitely reduced capital spending in the oilfield. And the threats of two other top contenders for the Democratic presidential nomination in 2020 (Elizabeth Warren and Bernie Sanders) to ban fracking as soon as they took office didn't help either. The risks of sinking a ton of money into oil and gas investment and ending up with stranded assets have increased considerably since the Trump and Obama presidencies.

[Ripmany]

Originally Posted by Ripmany

What about the engery?

Sorry I try to edit. What about engery storage we need to double it that why oil went negative under trump if we can store 500 days vs 50 days tops. It would be lot less hassle.

[matchingmole]

Originally Posted by Ripmany

What about the engery?

The engery will took care of itself...beans not being a faktour

[Tiny]

Originally Posted by Tigbitties38

I don't believe everything I read.

Do you believe the below information? It comes from the source you used.

Yes, the info you quoted from the EIA web site sounds reasonable. What I have a problem with is this, the text in bold, from the Fortune article. To anyone who knows more than a little about Russian gas and LNG, and I do, it's ridiculous:

Originally Posted by Tigbitties38

* They underestimated the speed of liquified natural gas (LNG) to backfill for Russian gas to the EU (the U.S. now sells more gas to the EU than Russia did at its peak in February). Fully 86% of Russian gas went to the EU but the EU didn’t need it as much as Putin needed to sell it to them.

The two gentlemen who wrote the Fortune Article may have Yale pedigrees but they don't know what they're talking about.

Going back to the EIA data I linked to earlier, total U.S. exports to the EU in November, 2022 were 6.6 BCFPD (billion cubic feet per day), or 198 BCF for the month.

https://www.eia.gov/dnav/ng/xls/NG_MOVE_EXPC_S1_M.xls

From the Nordstream Network, average physical flow through Nordstream 1 in February, 2022 averaged 1.72 billion kWh/day, or 5.86 BCFPD.

https://www.nord-stream.info/

I don't have data for other Russian pipelines for February, 2022 specifically, but from a year end J P Morgan report, the EU was importing about 9 BCFPD from other pipelines from Russia (Yamal, Turkstream, Ukraine) in the last part of 2021, or a total of around 15 BCFPD including Nordstream 1. I don't expect the number was greatly different in February, 2022.

In any event, without a doubt, the USA has never sold more natural gas to the EU than Russia did in February, 2022, and probably never will. Furthermore, Russian exports to the EU did not peak in February 2022.

I'm tired of pulling numbers, but the statement that 86% of Russian natural gas went to Europe is also ridiculous, if they mean 86% of Russian gas production. Russia consumes more natural gas domestically than it exports.

So, how exactly how would the Democratic Party save us from a plight like Europe? Well, if Bernie Sanders or Elizabeth Warren had been elected president in 2020, and followed through on their pledges to ban fracking, and had not been stopped by the courts, we'd be in the same shape as Europe -- dependent on places like Qatar and Australia for natural gas imports. And we'd be a big net oil importer again.

Like I said, Biden promised to stop issuing drilling permits on federal leases, and stop issuing federal oil and gas leases:

https://www.washingtonpost.com/clima...ange-drilling/

He reneged on that pledge, initially because of court rulings. What would happen if he and future Democratic administrations make good on that? Well, 25% of U.S. oil production is from federal leases but only 12% of gas production. HOWEVER, in the longer term, production from the Appalachian Basin and Haynesville, which supply a large % of our total gas production, will decline, like it did in the Barnett Shale. And natural gas production from acreage in the Green River Basin and other western basins, which are mainly under federal lands, will increase. If federal lands and the federal offshore are off limits though because of Democratic Party restrictions on drilling and leasing, then we're potentially back in the same situation as Europe.

And how's all this good for the climate? What are we going to do for base load electricity when natural gas prices are through the roof, and when we're not building new nuclear plants? Well, I guess we burn more coal, which emits more carbon than natural gas.

FYI, the Henry Hub natural gas price in the USA is $2.50 per MMBTU (million BTU). The price in Europe of LNG is $15.80/MMBTU, and that's before regassification cost. We're blessed to have low gas and electricity prices. We shouldn't let ideologues like Warren, Sanders, and, perhaps previously, Biden screw that up.

Your posts here usually have basis in fact, which is why you don't get picked on that much. You're wrong on this one, I suspect because you're in the position of defending something you don't really believe, that is, perhaps you don't believe in climate as a religion.

[eccieuser9500]

Originally Posted by Tiny

Yes, the info you quoted from the EIA web site sounds reasonable. What I have a problem with is this, the text in bold, from the Fortune article. To anyone who knows more than a little about Russian gas and LNG, and I do, it's ridiculous:



The two gentlemen who wrote the Fortune Article may have Yale pedigrees but they don't know what they're talking about.

You tell 'em, Tiny.

[Tiny]

Hey eccieuser, we probably shouldn’t be discussing this in Tigbitties’ thread, but I think we’d still be Hunter/gatherers if we followed Professor Wolff’s advice. Using his analogy, capitalism is part of what causes people to shake the apple tree instead of climbing it. Most of the surpluses or profits or free cash flow or whatever you want to call it are reinvested in human endeavors, in ways that benefit us all. If they’re reinvested by the private sector, or for that matter partly by responsible state and local governments through taxation and sensible spending, they do us a lot more good than if they’re syphoned off by a wasteful and inefficient federal government.

[ILUVSHEMALES]

Originally Posted by Levianon17

Big Whoop my Electric and Gas Bill haven't changed. It seems Biden benefits other countries more than this one.

Well. My Gas bill jumped 40% and my Electric Bill 28%.
YES, you can see the cost per KwH and the CCF has raised by that amount respectively. Do you pay the bills in your household?
I mean, do you open the bill and look at what you are paying for?

This is common knowledge that the cost of Energy has skyrocketed under the Biden Administration.

[eccieuser9500]

Originally Posted by Tiny

Hey eccieuser, we probably shouldn’t be discussing this in Tigbitties’ thread, but I think we’d still be Hunter/gatherers if we followed Professor Wolff’s advice. Using his analogy, capitalism is part of what causes people to shake the apple tree instead of climbing it. Most of the surpluses or profits or free cash flow or whatever you want to call it are reinvested in human endeavors, in ways that benefit us all. If they’re reinvested by the private sector, or for that matter partly by responsible state and local governments through taxation and sensible spending, they do us a lot more good than if they’re syphoned off by a wasteful and inefficient federal government.

This is where I adamantly disagree with you. Business thinks for itself.

It's the government spending, versus private sector spending. Waste in one form or way or another.

[nevergaveitathought]

if someone, or a group of some ones, had an intention to weaken america, to take the country down more than several rungs on the prosperity staircase and to enfeeble us militarily

given the strengths of the american constitution barring the way

one prong in the multi-pronged spear of destruction would be an energy policy just like what biden's has been, to include the repeated statistical half truths or, at times, unsupported statements meant to cloak the truth from the american people while the frog slowly comes to a boil

[Tiny]

Originally Posted by Tiny

In any event, without a doubt, the USA has never sold more natural gas to the EU than Russia did in February, 2022, and probably never will.

I ran across this graph this evening,

https://www.iea.org/data-and-statist...2019-july-2022

Russian gas flows really took a dive in January, 2022. Russia still sold more gas to the EU in February, 2022 than the USA did. However, I must reluctantly admit that the USA probably will at some point sell more gas to the EU than Russia did in February, 2022, if it has not already. The USA actually outsold Russia in January, 2022.

LustyLad brought this to my attention in a PM, probably so as not to publicly humiliate me. Well, what can I say. It hurts having to fess up to a poster who goes by the name Tigbitties. (No offense Tigbitties, your intellect is more impressive than your handle.)

However this does not change the fact that the Fortune article is B.S., and Biden's energy policy has been deeply flawed.