D
Deleted member 21794
Guest
What improvement?
Awful jobs numbers come out
- Thread starter Bugsy McGurk
- Start date
Nostra
Governor
Lies.
In September 2016:
Chevron is boosting its spending on unconventional plays, mostly in the Permian, and could double its outlays in the Permian to $3 billion by 2020, depending on the price of crude, said Brendan Warn, an analyst at BMO Capital Markets, in a note released Monday.
As opposed to "Chevron WILL boost it's spending".
D
Deleted member 21794
Guest
Yes, I saw that. You already provided another link that shows they doubled their portfolio from 2017 to 2019.
Oh but let's play along. Starting when?
and that helps you make your case that the Sept 2018 flare decision was key to their production increase how?
Nostra
Governor
Oil an gas production went down under Obama on any land he had any say in..........public land.
All increases were on private leases that Obama had nothing to do with.
Oops!
This was from July 2016.
Big oil giant Chevron (NYSE:CVX) has a long history in the Permian, having already produced 5 billion barrels of oil. That said, its best days appear to lie ahead. As one of the basin's largest acreage holders, Chevron controls an estimated 9.3 billion barrels of oil equivalent resources. The company is just starting to ramp up horizontal drilling in the region, which could fuel 20% to 35% annual production growth through 2020 depending on oil prices, boosting its Permian output to a range of 250,000-350,000 BOE/d. Meanwhile, there's plenty of growth beyond that, with Chevron believing it has the resources to eventually get its output up to 700,000 BOE/d within a decade.
https://www.fool.com/investing/2016/07/16/the-5-companies-dominating-the-permian-basin.aspx
Be specific...what did Hoover do to cause unemployment to climb to 25% and what did FDR do to cut it to 10% by 1939?
D
Deleted member 21794
Guest
Man, you're really getting desperate! But yes, I gladly acknowledge that Chevron chose to start ramping up operations in the Permian Basin as Obama's exit loomed closer and closer. I gladly acknowledge Obama signing the reversal of the export ban was a factor. I gladly acknowledge they doubled their Permian Basin portfolio in the two years following Obama's departure from the White House.
Is there anything else I can do for you?
Funny thing....@thinker is saying Chevron increased their production in the Permian basin and credited the Trump rule change on flaring in Sept 2018. The first problem is that the increase in production started well before that change and the second thing is the change was only related to production on federal land.
Care to get together with him and get your stories straight?
Nostra
Governor
I don't need to "get together" with anyone.
My post is 100% accurate. Your dodge is noted.
1. They actually increased their production in the basin mostly by buying other companies, not by drilling new wells.
2. The flaring rule was on production on federal land. @Nostra says oil production on federal land went down while Obama was in charge.
3. Their expansion in the basin was going on back to 2010.
Your major surgery on the facts in an attempt to make Trump look better or Obama look worse is comedic at best.
The Permian Basin is federal land. Production has been increasing every year...even while Obama was in charge.
Nostra
Governor
It did. But nobody expects you to be up to speed on the facts.
Nostra
Governor
What a complete lie.
Here is a map of the Permian basin...
Here is a link to a map of federal land in Texas:
https://nationalmap.gov/small_scale/printable/images/pdf/fedlands/TX.pdf
Not even close.
A couple of points....you're inability to actually establish cause and effect has now returned to your claim to be able to read minds. You said production increased because Trump did away with limits on flaring. That was in September of 2018. Now that you've been confronted with the fact that their increase in production is largely due to acquisitions and slant drilling technology improvements going back to 2016, which all certainly started in the planning stages back in 2015...so you're fall back position is that in 2015 they knew that Trump would be president and throw out the flare limits in 2018...or that Hillary would take over and she could be bribed.....
Yeah, there is something you can do....find a f*cking fact to back up this bullshit.
By now you may have already read about the fact that an oil and gas leasing auction conducted by the Bureau of Land Management (BLM) in Southeast New Mexico late last week grossed almost a billion dollars, coming in at $967 million. As the Albuquerque Journal noted, that sum more than tripled the total dollars bid on all federal onshore lease auctions held during the entirety of 2017, and more than doubled the previous record year of 2008.What a complete lie.
Here is a map of the Permian basin...
Here is a link to a map of federal land in Texas:
https://nationalmap.gov/small_scale/printable/images/pdf/fedlands/TX.pdf
Not even close.
So, why did that happen and where does all that money go once it is collected? Those are great questions and it is important that they be put into proper context.
First, it happened because the federal lands being leased were smack in one of the richest areas of the booming Permian Basin. Most media reports associate the vast region we call the Permian Basin with West Texas, which, to be fair, is where the vast majority of it sits. But it is a lesser-known reality that a pretty sizable and extremely minerals-rich portion of it lies beneath Lea and Eddy Counties in Southeast New Mexico, a region that, like West Texas, has produced oil and natural gas from conventional formations for more than a century.
https://www.forbes.com/sites/davidblackmon/2018/09/10/the-rest-of-the-story-on-new-mexicos-record-permian-basin-lease-auction/#459bcc60786d
If you are correct and the Permian is not federal land then Trump's change to the flaring rule would not apply and @The Thinker was wrong.What a complete lie.
Here is a map of the Permian basin...
Here is a link to a map of federal land in Texas:
https://nationalmap.gov/small_scale/printable/images/pdf/fedlands/TX.pdf
Not even close.
In any case, you have yet to provide any evidence that oil production declined on federal land from 2009 to 2017.
Nostra
Governor
I guess I will have to educate the ignorant once again.................
(CNSNews.com) – Oil and gas leases on federal lands are down 17 percent from 2009, when President Obama took office, through 2015, according to data from the Bureau of Land Management (BLM).
In 2009, at the beginning of the Obama administration, there were 53,431 oil and gas leases in effect covering 45,364,991 acres of federal land.
But by 2015, the total number of leases had dropped to 44,213 leases on 32,193,369 acres.
The decrease has been occurring gradually since the late 1980’s, according to the BLM. In 1988, there were 80,570 oil and gas leases, 82 percent more than in 2015.
https://www.cnsnews.com/news/article/joe-setyon/leases-oil-gas-federal-lands-down-17-under-obama
However, the number of oil and gas leases being issued per year under Obama declined by an even larger rate.
In 2015, just 852 leases were issued, down by more than 1,000 percent from 9,234 in 1988 - and less than half of the 2,072 leases issued in 2009.
Nostra
Governor
More facts on Obama's legacy..............
Obama's energy legacy: Oil, natural gas production on federal lands tanked
DENVER | Another piece of President Obama’s energy legacy: Oil and natural gas production on federal lands tanked under his tenure even as private activity increased.
From 2008 to 2016, major indicators of federal onshore and natural gas operations declined, including the number of leases, acres leased, permits approved and wells being drilled, according to the Western Energy Alliance in Denver.
The energy advocacy group used figures released Wednesday from the Bureau of Land Management for fiscal year 2016 to finalize its report.
“Who needs the Keep-It-in-the-Ground movement when you have the federal government doing the job itself,” said Alliance President Kathleen Sgamma. “Every major indicator of oil and natural gas activity on federal lands is down.”
Rep. Rob Bishop, Utah Republican and House Natural Resources Committee chairman, said Wednesday that production on federally managed lands “was all but impossible under the Obama administration,” citing bureaucratic red tape and fewer leases offered.
The FY2016 figures reflect “the lowest amount of leased acreage for the years statistically available, since 1988,” with leased acreage during the eight-year period falling by 20 million, the committee said.
“These numbers reflect steadfast efforts by the Obama administration to squelch responsible energy development,” Mr. Bishop said.
Ms. Sgamma referred to the “keep-it-in-the-ground” mantra of the environmental movement, which has pushed in recent years to block oil, natural gas and coal operations on public lands in the name of reducing greenhouse gases.
Production of natural gas on federal lands actually declined by 15 percent on federal land during the years of the Obama administration, while production on private lands increased during the same period by 66 percent.
Ms. Sgamma. “We look forward to working with Interior Secretary [Ryan] Zinke to realize President Trump’s vision of encouraging American energy development and job creation.”
The Republican-controlled Congress has taken aim at the Obama administration’s energy regulations, including the BLM’s venting-and-flaring rule, which was announced by former Interior Secretary Sally Jewell a week after the November election.
This rule to prevent waste of our nation’s natural gas supplies is good government, plain and simple,” said Ms. Jewell in a Nov. 15 statement. “We are proving that we can cut harmful methane emissions that contribute to climate change, while putting in place standards that make good economic sense for the nation.”
The House passed a disapproval motion Feb. 3 to overturn the rule, which is now before the Senate.
“This God-awful rule is aimed right at North Dakota in an effort to destroy the Bakken,” said Rep. Kevin Cramer, North Dakota Republican, in a statement. “The rule does nothing to help the environment, plus states and the EPA already have authority over flaring and venting.”
The price of natural gas fell during the Obama administration, causing an industry contraction, but “if natural gas prices alone explained the drop on federal lands, then private lands would have a similar drop,” said Ms. Sgamma.
“They obviously have not. The drop of natural gas production on public lands can be attributed primarily to the additional red tape and bureaucratic delays from the federal government,” she said
https://www.washingtontimes.com/news/2017/mar/15/oil-gas-production-federal-land-tanked-under-obama/
Obama's energy legacy: Oil, natural gas production on federal lands tanked
DENVER | Another piece of President Obama’s energy legacy: Oil and natural gas production on federal lands tanked under his tenure even as private activity increased.
From 2008 to 2016, major indicators of federal onshore and natural gas operations declined, including the number of leases, acres leased, permits approved and wells being drilled, according to the Western Energy Alliance in Denver.
The energy advocacy group used figures released Wednesday from the Bureau of Land Management for fiscal year 2016 to finalize its report.
“Who needs the Keep-It-in-the-Ground movement when you have the federal government doing the job itself,” said Alliance President Kathleen Sgamma. “Every major indicator of oil and natural gas activity on federal lands is down.”
Rep. Rob Bishop, Utah Republican and House Natural Resources Committee chairman, said Wednesday that production on federally managed lands “was all but impossible under the Obama administration,” citing bureaucratic red tape and fewer leases offered.
The FY2016 figures reflect “the lowest amount of leased acreage for the years statistically available, since 1988,” with leased acreage during the eight-year period falling by 20 million, the committee said.
“These numbers reflect steadfast efforts by the Obama administration to squelch responsible energy development,” Mr. Bishop said.
Ms. Sgamma referred to the “keep-it-in-the-ground” mantra of the environmental movement, which has pushed in recent years to block oil, natural gas and coal operations on public lands in the name of reducing greenhouse gases.
Production of natural gas on federal lands actually declined by 15 percent on federal land during the years of the Obama administration, while production on private lands increased during the same period by 66 percent.
Ms. Sgamma. “We look forward to working with Interior Secretary [Ryan] Zinke to realize President Trump’s vision of encouraging American energy development and job creation.”
The Republican-controlled Congress has taken aim at the Obama administration’s energy regulations, including the BLM’s venting-and-flaring rule, which was announced by former Interior Secretary Sally Jewell a week after the November election.
This rule to prevent waste of our nation’s natural gas supplies is good government, plain and simple,” said Ms. Jewell in a Nov. 15 statement. “We are proving that we can cut harmful methane emissions that contribute to climate change, while putting in place standards that make good economic sense for the nation.”
The House passed a disapproval motion Feb. 3 to overturn the rule, which is now before the Senate.
“This God-awful rule is aimed right at North Dakota in an effort to destroy the Bakken,” said Rep. Kevin Cramer, North Dakota Republican, in a statement. “The rule does nothing to help the environment, plus states and the EPA already have authority over flaring and venting.”
The price of natural gas fell during the Obama administration, causing an industry contraction, but “if natural gas prices alone explained the drop on federal lands, then private lands would have a similar drop,” said Ms. Sgamma.
“They obviously have not. The drop of natural gas production on public lands can be attributed primarily to the additional red tape and bureaucratic delays from the federal government,” she said
https://www.washingtontimes.com/news/2017/mar/15/oil-gas-production-federal-land-tanked-under-obama/
