The Biden administration said oil and gas companies would be able to drill in just three new areas in the Gulf of Mexico between 2024 and 2029, the smallest number of lease sales offered since the federal drilling program began decades ago.
Limiting drilling will lead to even higher gas prices and force the country to increase oil imports from countries with lax environmental standards.
This restrictive offshore leasing program is the latest tactic in a coordinated strategy to reduce energy production, ultimately weakening America's energy dominance, limiting consumers' access to affordable, reliable energy and compromising our ability to lead on the global stage.
Limiting leases won't have an immediate effect on gas prices because it takes years to produce gas after the purchase of an oil lease. But energy analysts do agree that restrictions could have an effect in the long term.
It also increases GHG output because that dirty fuel has to be brought in by ship.
Quote from: Oerdin on September 30, 2023, 02:47:44 PMIt also I creases GHF output because that dirty fuel has to be brought in by ship.
Precisely.
ecent progress bringing inflation down stalled in September, offering the latest sign that the path to fully extinguishing price pressures could be bumpy.
The consumer-price index rose at a 0.4% pace in September from the prior month and 3.7% from a year earlier, the Labor Department said Thursday. The monthly gain represents a cooling from August's 0.6% increase, which was driven by higher energy prices. The 12-month rate was the same as in August.
Gas has dropped here about 80 cents in the last two weeks as it usually does when summer is ending. Haven't noticed much of anything else going down in price though.
Quote from: Oliver the Second on October 12, 2023, 10:42:50 PMGas has dropped here about 80 cents in the last two weeks as it usually does when summer is ending. Haven't noticed much of anything else going down in price though.
Rents are soaring everywhere.