Biden blocks drilling permits on public lands

[Big Abraham]

He's doing the absolute bare minimum, but nevertheless a critical step in the right direction

[OSR stands with Israel]

Drilling new oil wells and gas rigs is going to be uneconomical within a couple of decades anyway. Why fight this fight, Republicans?

Their genuine answer, even if not always spoken out loud?

"Maybe, but you know how much money I can make in the next 20 to 30 years doing this?"

For millions of people that is a valid concern , so stop pretending like it’s only oil executives from energy policies republicans support

[Badger]

Drilling new oil wells and gas rigs is going to be uneconomical within a couple of decades anyway. Why fight this fight, Republicans? Technology has already guaranteed you'll lose. Promoting oil and gas is like subsidizing typewriter manufacturers in 1980: They may not be completely obsolete yet, but the writing is already on the wall.

There's an argument that it's uneconomical now. Renewable energy is plummeting in costs every year while coal mines and oil plants are shuttering all over the world.

There's an argument at least regarding oil and natural gas that the current lack of economy in production isn't as much do to a glut in Supply, but rather a bottleneck in refining and production. The "cracking" natural gas plants popping in locations like Western Pennsylvania are changing this somewhat. With the theory still holds that gas and oil would become a lot more valuable if there was greater Refinery capacity permitting it to be produced on the market. It might be cheaper on the market, but it would spur demand for production there by raising the value.

[ProudModerate2]

https://thehill.com/policy/energy-environment/535224-bidens-interior-dept-temporary-blocks-drilling-on-public-lands

Ugh this isn’t good and I truly wish the GOP when they had a trifecta passed comprehensive energy policy into law rather than spend 9 months trying to repeal Obamacare  

For someone who wants to get America back to work, he sure is making too many job killing decisions.

As expected, even post Trump, Republican climate change denial is alive and well.

You can oppose this while believing climate change is real change

I'm sure you believe in climate change, you just don't seem to be very interested in stopping it.

Exactly.
If someone "believes" in it, then they believe that it is very serious. That there is limited time to slow or stop it. We must take actions NOW to mitigate the damages that are coming.

[Tintrlvr]

Drilling new oil wells and gas rigs is going to be uneconomical within a couple of decades anyway. Why fight this fight, Republicans?

Their genuine answer, even if not always spoken out loud?

"Maybe, but you know how much money I can make in the next 20 to 30 years doing this?"

Maybe. But you need your rig to operate for a pretty long time before it actually becomes profitable for the investment. Definitely most existing rigs are still profitable, and maybe some new ones are profitable for a little while longer, but exploration and new drilling has been mostly a money-loser in recent years. I actually represent a fair number of companies that invest in oil and gas (mainly gas; oil is in much bigger immediate trouble), and none of them have been doing well lately (meaning the last six years; none of them really ever recovered fully from the crisis in 2015). It's true that there are issues other than purely competition from renewables and renewable energy mandates, but it's increasingly hazy if the investment will line up to solve those issues, either. Battery technology isn't quite there to *completely* eliminate oil and gas, but oil and gas are not the growth industry they once were: New investment will be chasing smaller and smaller returns, and, eventually, a shrinking pie.

At some point soon, everyone in the industry is going to realize the party years are never coming back, and that will dry up the lobby money really fast - no point in lobbying to drill in protected lands if you can't make money off it anyway. The smart ones have already called the coal executives for advice on how to manage a declining business in the coming decades. Or are just retiring.

[Co-Chair Bagel23]

bleh

[Progressive Pessimist]

This should be common sense, but that is desperately what this country needs right now and I am grateful that we're already off to a good and quick start of restoring that value in our Executive Branch.

[Hammy]

He's doing the absolute bare minimum, but nevertheless a critical step in the right direction

Big step considering he's been in office for less than 48 hours. He's already done far more for the environment than I expected him to.

[It’s so Joever]

Probably for the better.

[ultraviolet]

He's doing the absolute bare minimum, but nevertheless a critical step in the right direction

Nothing will ever be enough, will it? It’s literally been one day

[Antonio the Sixth]

Good decision.

If you believe in climate change but oppose these very minor steps to try to combat it, you're actually worse than a denier. Because you acknowledge that something terrible is happening and yet you actively oppose efforts to prevent it.

[Badger]

Drilling new oil wells and gas rigs is going to be uneconomical within a couple of decades anyway. Why fight this fight, Republicans?

Their genuine answer, even if not always spoken out loud?

"Maybe, but you know how much money I can make in the next 20 to 30 years doing this?"

Maybe. But you need your rig to operate for a pretty long time before it actually becomes profitable for the investment. Definitely most existing rigs are still profitable, and maybe some new ones are profitable for a little while longer, but exploration and new drilling has been mostly a money-loser in recent years. I actually represent a fair number of companies that invest in oil and gas (mainly gas; oil is in much bigger immediate trouble), and none of them have been doing well lately (meaning the last six years; none of them really ever recovered fully from the crisis in 2015). It's true that there are issues other than purely competition from renewables and renewable energy mandates, but it's increasingly hazy if the investment will line up to solve those issues, either. Battery technology isn't quite there to *completely* eliminate oil and gas, but oil and gas are not the growth industry they once were: New investment will be chasing smaller and smaller returns, and, eventually, a shrinking pie.

At some point soon, everyone in the industry is going to realize the party years are never coming back, and that will dry up the lobby money really fast - no point in lobbying to drill in protected lands if you can't make money off it anyway. The smart ones have already called the coal executives for advice on how to manage a declining business in the coming decades. Or are just retiring.

My father is both a Heritage Foundation donator and has a long business history in both gas/oil production and taxes. His views on environmental regulation are retrograde to put it nicely. I'm wondering how many people in the industry you've come across seem to genuinely believe that, even if these long-term trends are a thing, they stubbornly insist that the REAL obstacle towards profitability is getting the damn feds and EPA off their back?