Biden to ban fracking

[J411]

One thing of note, it does make the distinction "on federal land." There is very little federal land east of the Mississippi. I'm very familiar with PA and I'm pretty certain that the vast majority of those areas where there are wells are not on federal land.

edit: just looked it up.



If you look at the map posted above and compare with this one, it looks like only a handful of wells are in that area. I'm not saying he won't expand the ban later, but the sky isn't falling just yet either.

[aal04]

Elections have consequences

Trump DID win PA by a lot. Fracking was the win card for that area

But alas, the election officials dodgied everything. I feel sorry for the people. not for the vegan climate activist lefties running the election

[gachase21]

ban new fracking on federal land

So we can keep going at it in our barely tapped current fields? Our already permitted not tapped yet federal? And any private we want?

Not sure this is such a bad thing.

-it can always be reversed later
-it helps keep our current petroleum industry propped up

There are plenty of existing oil fields and wells untapped, or not even close to tapped potential.

Every spike drops these operations have to shut down, and go under- then have to re tool to get back up and running again.

There is a bottom line price point where it isn’t worth American companies producing oil on these fields.


It’s why Russia and Saudi’s played that BS gamesmanship late last February and early March spiking supply to be a nail in the coffin of many US operations. (Saudi’s actually tried to be on our side for just a bit there)

Same reason why opec was flooding the market a when fracking took off- holding to nip it in the bud by making it not cost/benefit worthy.

If we stay at a constant balance point we can keep more US operations going - and make it worth tapping more existing US Wells, as well as private land ones.

This will actually help keep more American jobs stable , as well as prices stable.


Keystone? I never was a fan. I think republicans overplayed that, and got stuck with it as an issue they had to continue with because the were invested into the short sighted popularity of it.

I do think it’s kinda chitty to stop it now they it’s already underway- that’s not a good way to maintain relationships either. But I don’t think it will be near or mid term bad for us.

As well I think we will net more American jobs and wealth out of it.



Circa 2014 post....

Well, no ****, he will not sign Keystone. Not even remotely surprising, there's plenty of grassroots opposition to it after the BP spill.

There are other bills he will sign.

We don't need that Canadian maple syrup pipelined here anyways. We have enough reserves here to tap into untouched still, and enough other avenues for job creation.

He already plans on using that as a bargaining chip to get some things he wants. The GOP has oversold its need and value for campaigning, and now is obligated to attempt to push it through.

This will cost them uneeded negotiation concessions.

I made an audio clip in a post where I was responding to a dooms day gold exchanging charlatan’s video back in June of 2019 that describes this a little bit.

I’ll hit there 2 videos with a voice respond - I’m having problems typing tonight


Reminder half my tongue and face are paralyzed so stuff can sound weird

https://www.speakpipe.com/msg/s/1329...l7pia5nu97mj86


For whatever reason you have to hit pause and play again to hear it loud enough
Link I referenced in the audio clip

https://www.investopedia.com/article...sury-bonds.asp

It’s starts somewhere later in the clip.

[gachase21]

-


I have mixed feeling about fracking. Hate to see the intentional pollution and essentially waste of water. Iffy about reported earthquakes. But then I don't care to be dependent on the Saudis.

The Saudis were prob happy with keystone - as well as more open access to new sites federal land.

This kept it not cost worth for our internal industry to fully function and expand in existing permits.

The were not happy with our emerging fracking and other reserves being tapped.

Those things kept us at bay.


This will likely result in more energy independence for us.

[katya422]

When you’re unemployed, gas is $5 per gallon, your taxes have been raised, and your broke ass is complaining that you don’t have a job, you don’t get to say anything. Be careful what you wish for.

The US economy has been driven into a ditch and our government has been bingeing on debt.



Getting out is going to suck, kind of like cutting for summer after going too hard over the holidays.

Except in this US case it is more like trying to recover from super morbid obesity.

To retire the debt the government needs increased income (taxes). To fight inflation and stagnation due to our diluted currency and ridiculous wealth inequality the Fed needs something to soak up cash AND rebalance wealth.

All of us poor people (barring the multi-millionaires and up) will feel the pain of higher energy costs as an increase there feeds into the entire system of goods and services and raises prices across the board.

The people at the very bottom can only go so low. This means you really must increase wages at the bottom or else increase the population of homeless/government dependents.

Increasing energy and labor costs for the mega corporations helps pull some of that excessive capital they are hoarding back into circulation in the broader economy.

On net the poorest 30 percent may do a tiny bit better, or at least not much worse than now. Full time work at $15 an hour = $31,200 a year.



The people in the middle get screwed by higher taxes and higher costs for goods and services. Their best hope is to own real estate and stock in functional profitable companies.

The people at the tippity top? They are fine. Things are so out of balance those at the very top could lose half what they have and still leave the rest of us in the dust.

We have a new oligarchy. They may not command a defined geographic area. They may not be called kings, queens, dukes, etc., but they do exist. There are five known centibillionaires now, and assuredly a good number of multi-billionaires.

https://www.npr.org/2020/12/10/94462...27quZHUT_HlJ3Q

- the debt needs to be reduced/retired via repayment of debt, most likely with inflated/devalued dollars

- money needs to circulate through the economy like blood needs to circulate through the body; extreme wealth inequality matters because it is a sign that circulation has been cut off and some part of the social body is in danger of rotting

I think this is the less painful scenario- the current system is patched up and continues rolling somehow. Alternatives look to be a globalist controlled reset or potentially an uncontrolled collapse and an organic replacement with a new system of some type.

The first seems like a road toward totalitarianism and the second could take us through a valley of suffering and an increase in deaths, but may preserve some islands of relative freedom and potentially lead to the emergence of a new economic system that can function in a sustainable static state that isn't dependent on constant growth.

[engj]

- environmentalists happy because ban/progress
- existing operators happy because they need oil prices higher and this also shuts out new competitors

Am I the only one that recalls reading about oil prices being so low US and Canadian operations were getting reamed?

https://thenarwhal.ca/albertas-recor...-the-province/

Seems like it could be supportive of current producers.

Just FYI if you know nothing about a topic you don't have to comment.