That doesn't work for Alaska. 95% of the oil Alaska produces does go to the lower-48. 2% stays in Alaska, while 1.5% goes to Taiwan and 1% goes to Japan, and 0.5% goes to South Korea. However, due to the lack of demand in the lower-48, the coal that Alaska exports goes primarily to China.
WASHINGTON— New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration’s first-year total of 2,658
Consider the source. It is obviously Fake News.
Now, new data from the Bureau of Land Management shows that, despite industry fear mongering, oil companies have nearly 10,000 approved, but unused public lands drilling permits, an all-time high in recent memory
You are talking about permits that were issued that contain no oil. So that is yet another lie by leftist filth, as expected.
The only thing fake is the right wing filth outrage.
It is also outside the constitutional authority of Congress. Unless you nationalize the oil and gas industry, which the Supreme Court has already shot down as unconstitutional, then Congress cannot dictate how a product produced by the private sector may be sold. We do not live in a totalitarian fascist state, as much as you leftists might desire it.
oppose this well intended approach
That was something that always puzzled me. New York City is one of Alaska's biggest oil consumers, but we have to ship it from Valdez, AK via the Panama Canal to New York City. How could that be cheaper than buying oil directly from Mexico? Most of Alaskan oil is off-loaded on the west coast, but a substantial amount does make it to the Gulf of Mexico ports and ports on the east coast. I can understand off-loading in the Gulf of Mexico ports, because they are closer to where all the major refineries are located, but I don't understand how Alaskan oil could be cheaper on the east coast than from other non-US sources.
Not sure you are grasping the concept that oil is sold at world market prices regardless of from whence it originates
Yes, they are either have no oil or gas at all, or the amount they do have would be too expensive to produce. The oil companies have no idea what is under the land they lease, until after they have leased the land and drilled to discover what is available. Sometimes it pays off, but most of the time it doesn't.
I know a water witch with a better record than that...
Those market prices include the cost of shipping. Given that the price of oil per barrel in Alaska is almost identical to the price of oil per barrel in Mexico, it has to be cheaper for New York City to buy its oil from Mexico rather than Alaska. So why New York City is one of Alaska's biggest oil consumers defies logical explanation. It must be one of those insane leftist ideas.
I said New York City, not State, and yes. Entire supertankers are shipped from Valdez, AK, to NYC, NY via the Panama Canal. Which makes no logical sense.
Yea, and is there a reason someone applies for a permit or lease for a dry hole?
I don't know that to be true but if so it must because it is cheaper. However I find it a stretch to believe that NYC is buying most of its refined oil from Mexico. However, given that is your claim I have no reason to disbelieve you but a factual source would be helpful
So you are America first unless it hurts your energy company friends. And there are permits out there not being used because why pump more oil when the price is so high for what you have to sell. Sell less, make more, to me it is called prive gauging. Take away the permits if they do not use them and give them to someone who will. You want more oil and lower gas prices, then do something about it.
Oil companies have a pretty good idea what parcels of land have oil on them before they even bid on a lease
Actually, I support profit first. Since it is the product of the oil companies, they are entitled to make as much money for their product as the market will bear.