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Why is the US oil industry sitting on a stockpile of unused drilling license?

Is the chart an honest depiction of the royalty rates in federal, state and private lands?
I don’t know and don’t care. For reasons I already explained it contains no real meaningful information on its own.

It may be true, but why does it matter? What point are you trying to make with it?
 
It really seems pointless to explain things to you. I detect no honest intention on your part to become better educated and informed.

Haven't you learned by now that they believe what they want to believe

They ignore anything that challenges that belief.

They just keep repeating illogical jiberish
 
Haven't you learned by now that they believe what they want to believe

They ignore anything that challenges that belief.

They just keep repeating illogical jiberish
I’m guessing they unquestionably repost things they get off partisan websites posted by partisan operatives who don’t even understand themselves what they are looking at. If you ever want to lose confidence in America wait for the day journalists and politicians start talking about something you understand.

That said, this is true on both sides. Many on the right have been cherry-picking and making sweeping claims based on data they don’t quite understand with respect to oil and gas of late as well.
 
It really seems pointless to explain things to you. I detect no honest intention on your part to become better educated and informed.
it's you who is being dishonest. it's just a chart with the rates.
 
Haven't you learned by now that they believe what they want to believe

They ignore anything that challenges that belief.

They just keep repeating illogical jiberish

Are royalty rates set at 12.5% on federal lands and have been for over ONE HUNDRED YEARS? This is not a belief, its a fact..
 
it's you who is being dishonest. it's just a chart with the rates.

Are royalty rates set at 12.5% on federal lands and have been for over ONE HUNDRED YEARS? This is not a belief, its a fact..

So, then exactly what is the point here?

Why are we talking about this?

What causes someone to gleefully rush to the internet with these facts as if they have struck some great blow for truth and justice with them?

What important points are you drawing from these data that an unsophisticated energy industry cretin like myself can’t see?
 
Production depends on lots of factors. Leases, permit, exploration, drilling, shipping, refining. Cutting oil leases and slowing the issuing of permits to actually drill are what is harming the production at the current time. That is added in to the promise by Biden to kill the industry. Why would they spend money to invest in more drilling on the short term to help Joe when they know he will repay them with more restrictions as soon as this problem is over? Joe caused this, the oil companies don't want to bail him out and you can't blame them.
so the oil companies have NO where else they can drill for oil it is ONLY on Federal lands?
ONLY 1.8% of the state of TX is Federal land and 1.8% of OK is federal lands
they are two of the largest oil producing states
Have a nice day
 
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