All rights reserved. Here is the average price in each state. Most importantly, it should complete work on a long-term plan for offshore oil and gas development, to replace the one that expires this summer. Mischaracterizing the way federal leases work does not help foster new investment and risk-taking. His latest ploy is to place a "use it or lose it" fine on unused oil leases that take years to develop and millions of dollars. Like when the president points out that some of his competitors are sitting on 9,000 federal land leases they havent drilled. , Fox Business spoke with energy industry leaders and Sen. Dan Sullivan (R-Alaska) about the Biden White House's claim that 9,000 oil and natural gas drilling leases sit unused. Biden said the oil industry has "9,000 permits to drill now. While the cost to extract one barrel in Saudi Arabia is somewhere around $10 or $15, in West Texas it can be as high as $70, Gernot Wagner, an associate professor of environmental studies at New York University, told PolitiFact. . ", "Ron DeSantis voted to cut $473 billion from Medicare. re: 9000 unused oil leases. Are gas prices going up? Powered and implemented by FactSet Digital Solutions. So the surface pads, as you can see from here, its kind of hard to see. FACT CHECK: Is Tom Brady's New Girlfriend Jewish? 996 canceled oil and gas leases. 2023 Minnesota Public Radio. And any company that wanted to start drilling on those 9,000 federal leases would face the same problems. The sand and water necessary for fracking are hard to come by too. District of Columbia The president suggested the onus is on the industry to start drilling. Its simply not true that my administration or policies are holding back domestic energy production, Biden said March 8 in a speech announcing a U.S. ban on Russian oil imports. This is where were parked, right here on the edge of this big frack pit.. The only thing that "the administration" could do to increase oil production, would be to get the hell out of the way. Biden said that companies pumped more oil in the U.S. during his first year in office than during his predecessors first year and that we were on track for record oil production next year. It is time for the administration to end the finger-pointing and instead support American production with a comprehensive strategy for American energy development one that includes a final five-year program for offshore leasing and quarterly onshore lease sales.. The authors forecasted the future of oil and gas production on federal . They could be drilling right now, yesterday, last week, last year." Biden's number is correct: There are 9,137 approved permits to . And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased," Biden said. Then, an electrical submersible pump, or ESP, was sucked down into the well. With oil at $120 or more, drilling there is wildly profitable.". Listing leases originally filed between the 2020's and the 1820's . Conclusion. They could be drilling right now, yesterday, last week, last year.". The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. Thousands of unused permits are not uncommon in any presidential administration. Powered and implemented by FactSet Digital Solutions. President Biden says he wants more domestic oil production but he is doing nothing positive to make that happen. Their University Retaliated Against Them. "Companies sometimes hold leases as a bit of a mind game with their competitors, or even just because they didnt properly assess the production potential prior to leasing due to lack of data or that sort of thing. Production peaked at 13 million barrels a day under the Trump administration. . The Inflation Reduction Act would end all this back-and-forth. Biden complained about unused leases in his bid to spur supply and reduce gasoline prices. The oil and gas industry has stockpiled millions of acres of leases on public lands and waters. "Its simply not true that my administration or policies are holding back domestic energy production," Biden said March 8 in a speech announcing a U.S. ban on Russian oil imports. Generic 1st 'XB' Future. The department, which manages oil and gas drilling on federal land, blamed the change on a "reporting discrepancy.". In addition to Biden, top administration officials such as National Security Council spokesman John Kirby and former White House press secretary Jen Psaki have used the 9,000-permit talking point to argue that the oil and gas industry has "plenty of opportunities to drill here in the United States." "It is time for the administration to end the finger-pointing and instead support American production with a comprehensive strategy for American energy development one that includes a final five-year program for offshore leasing and quarterly onshore lease sales," Macchiarola continued. I cant get the people to do the work, Oestmann said. February 27, 2023 05:28 PM. EIN: 41-0953924. Companies have to contract rigs to drill the wells, and build a sufficient inventory of permits before rigs are contracted, said Jennifer Pett, a spokesperson for the Independent Petroleum Association of America, a trade group that represents oil and natural gas producers. ", 60% of counties in this country are refusing to implement the nation's gun laws.. I took a trip out to ground zero for domestic oil and gas production Texas' Permian Basin . This fact check was originally published by PolitiFact, which is part of the Poynter Institute. But it does import some of its oil from Russia, The U.S. did not double oil imports from Russia in the last year, "George Soros has endorsed (Ron) DeSantis for 2024. Gas prices are high and up another 7 cents nationwide. Here's why: President Joe Biden said that his policies have not made the U.S. less equipped to withstand the impact of the ban on Russian energy imports. U.S. Energy Information Administration, U.S field production of Crude Oil, Center for Biological Diversity, New Data: Bidens First Year Drilling Permitting Stomps Trumps By 34%, Jan. 21, 2022, Western Energy Alliance, Responding to the White House Blame Game on Leases, March 4, 2022, Washington Post, Biden outpaces Trump in issuing drilling permits on public lands, Jan. 27, 2022, CNN, More oil supply could stop massive price spikes. The DOI has delayed issuing a congressionally five-year plan for offshore drilling and is weighing a complete block on such leasing through 2028. Oil production on federal lands fell to 12.28 million barrels per day in November, the latest month with data. On Feb. 27, 2023, a reader alerted us that the federal agency had published an updated number of the approved and available permits to drill the new total was 27% smaller, 6,653 permits. In total, the oil industry now holds leases to more than 25 million acres of public lands . In his quest to shift blame for rising gas prices, President Joe Biden accused oil companies of "sitting on nearly 9,000 unused but approved" drilling permits. The Bureau of Land Management (BLM) revised the current number of approved applications for permits to drill (APD) which oil and gas companies are required to file once they identify a deposit on a lease that can . For federal onshore, the Mineral Leasing Act prevents any one company from locking up unproductive excessive federal acreage. . Turns out, thats wrong. The industry could move forward with the permits that it has that are currently unused and could ramp up domestic oil production to replace Russian oil, but these moves take time. The argument about "unused" leases is a red herring, a smokescreen for energy policies that have had a hamstringing effect on the world's leading producer of natural gas and oil. Most of the time, its rented equipment. For nearly a year, the Biden administration has attempted to redirect scrutiny over its slow walking of federal oil and gas leases by chastising U.S. producers for leaving 9,000 permits to drill on federal lands untapped. Bidens number is correct: There are 9,137 approved permits to drill on federal and Indian land, and the oil industry could use those permits and drill. The oil and gas industry has a substantial number of unused permits to drill onshore. Investors remain reluctant to invest in fossil fuels. Pavel Molchanov, an analyst at Raymond James, told CNN Business that "oil and gas companies do not want to drill more. President Biden on Wednesday issued an executive order temporarily pausing federal oil and gas leases and setting in motion potentially longer-lasting restrictions on federal lands production of fo forward with a plan to lock up even more of our state's land in unused oil and gas leases. ", Biden said that the companies are not using these permits to drill. It suggests American producers have been motivated by a desire to manipulate the market during the current crisis in Europe. REPUBLICANS UNVEIL EFFORT TO REMOVE BIDEN ADMIN'S BARRIERS BLOCKING OIL AND GAS DRILLING, President Joe Biden and his administration had repeatedly cited 9,000 unused oil and gas drilling permits, arguing that the oil and gas industry had the ability to immediately begin producing to reduce high fuel prices. Now, the oil industry is sitting on a remarkable 9,173 approved, but unused, federal lands drilling permits. See the sources for this fact check hereand more of their fact checkshere. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. In a world of wild talk and fake news, help us stand up for the facts. ", In 2020, the oil bust created worker and supply shortages and caused companies to cut their budgets. All material subject to strictly enforced copyright laws. A federal judge has revoked oil and gas leases sold in the Gulf of Mexico in November, saying the Interior Department did not take into account its impact on climate change. TheU.S. Energy Information Administrationin January forecasted that U.S. oil production will average 12.4 million barrels per day during 2023, surpassing the record high for domestic crude oil production set in 2019. They have 9,000 permits to drill now. And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased," Biden said. However, the unused drilling leases represent a fraction of the active permits, many of which are being used by the private sector to produce oil and gas daily, industry groups said. They could be drilling right now, yesterday, last week, last year. ", "Florida's water is dirtier and sicker than when Gov. 5 withdrawn oil and gas leases. Onshore, of the more than 26 million acres under lease to the oil and gas industry, nearly 13.9 million (or 53%) of those acres are unused and non-producing. One of PolitiFacts longstanding principles is to rate fact-checks based on evidence available at the time. Suggests "108 FIFA registered players/coaches have died" because of COVID-19 vaccines. Biden said that companies pumped more oil in the U.S. during his first year in office than during his predecessors first year and that we were on track for record oil production next year. At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. The revelation comes as a blow to Biden as he attempts to defend himself from Republican critics, who argue that the Democrat is "attacking American energy" and raising gas prices by slowing fossil fuel production. But its not as simple as Biden made it seem, because there are some steps before companies begin production. The minimum royalty rate is significantly lower than those used in most states and on private land and the BLM is providing an improved return to the taxpayer by using a royalty rate of 18.75% for the leases sold in the current competitive lease sales. American Petroleum Institue February 27, 2023. As Sommers noted in a recent blog, the administration should provide clarity on federal leasing and permit energy infrastructure. Biden's Interior Department quietly updated its list of unused permits to reflect a much lower figure: 6,600, E&E News reported Monday.The department, which manages oil and gas drilling on federal . As a result, Henry Resources has been standing by with an unproductive well for two months. White House, Remarks by President Biden Announcing U.S. Ban on Imports of Russian Oil, Liquefied Natural Gas, and Coal, March 8, 2022, U.S. Energy Information Administration, "EIA expects annual U.S. crude oil production to surpass pre-pandemic levels in 2023," Jan. 11, 2022, Bureau of Land Management, Applications for permits to drill, December 2021. "Families cant afford that companies sit on their hands. In the 2018 Florida governor's race "votes were being stolen by the corrupt election process in Broward. This is exactly what the worlds leading producer of natural gas and oil should do, especially in times of turbulence. Those permits include those issued under Biden and those still active from Trumps administration and potentially before, said Josh Axelrod, of the National Resources Defense Council. 20006, Florida "The record profits oil companies made in 2022 and the thousands of approved but unused drilling permits they are sitting on shows that there is nothing getting in the way of increasing oil production except Big Oil's own decision to funnel their profits into the pockets of shareholders and executives," an official told Fox News. Biden's Interior Department quietly updated its list of unused permits to reflect a much lower figure: 6,600, E&E News reported Monday. Companies dont have to immediately begin drilling as their leases last 10 years and can be extended beyond that. During Bidens first year in office, the U.S.produced an averageof about 11 million barrels of crude oil per day compared to Trumps 9 million barrels per day in his first year. Legal Statement. The president suggested the onus is on the industry to start drilling. If . The Biden administration has also dragged its feet on oil and gas lease sales, only holding sales when directed by either federal courts or the Inflation Reduction Act. "In Utah alone, the industry is sitting on more than 1.7 million acres of unused federal oil and gas leases on some of our nation's wildest and most culturally significant public lands . "Producers also have to put a drilling plan together, secure rights of way and work with state and private landowners," Pett said. 13 rejected oil and gas leases. But a Biden administration official downplayed the alteration Monday, saying the number of unused oil and gas permits remains high. According to E&E News, President Joe Biden over the past year has stressed that companies hold 9,000 permits to drill on public lands sitting unused. That's true, but all work can't begin 'right now'. Prior to that, he was an attorney for Chevron, DLA Piper LLP, and the U.S. Senate. a bipartisan bill with Senator Chuck Grassley of Iowa to modernize the federal oil and gas program's outdated . Legal Statement. A shale well, for example, could cost about $7 million to drill. They could be drilling right now, yesterday, last week, last year.". There is actually an incentive for the companies not to develop these resources because for publicly traded companies, these reserves get reported and influence market valuation, Daigle said. No, the U.S. did not end its domestic oil production. 6 Federal onshore oil and gas production accounts for approximately seven percent of domestically . Yacob Reyes is a staff writer covering Florida politicians and legislative issues for PolitiFact. Producers also have to put a drilling plan together, secure rights of way and work with state and private landowners, Pett said. For nearly a year, the Biden administration has attempted to redirect scrutiny over its slow walking of federal oil and gas leases by chastising U.S . "It is time for the administration to end the finger-pointing and instead support American production with a comprehensive strategy for American energy developmentone that includes a final five-year program for offshore leasing and quarterly onshore lease sales," the institute said in a statement. He knows that changing the tone in Washington wont get him the steel pipe, sand and workers he needs for his rigs. And is it Joe Bidens fault? "Companies sometimes hold leases as a bit of a mind game with their competitors, or even just because they didnt properly assess the production potential prior to leasing due to lack of data or that sort of thing. [Follow me on Twitter at @EnergyAbsurdity] During Monday's latest gaslighting exercise the White House likes to refer to as a 'press briefing,' spokesperson John Kirby rolled out the handy '9,000 unused permits' talking poi Those permits include those issued under Biden and those still active from Trumps administration and potentially before, said Josh Axelrod, of the National Resources Defense Council. Late last . FOSSIL FUEL PROFITS ARE VITAL FOR GREEN ENERGY PROJECTS DEMS ROUTINELY TOUT. Theres a lot happening in the world. First, drillers have to build roads to get the crews and equipment out there. Wednesday's Energy Absurdity of the Day: Is it '9,000 Unused Leases' or '9,000 Unused Permits?' The White House Doesn't Seem to Know. ", "They are under pressure from the financial community to pay more dividends, to do more share buybacks instead of the proverbial 'drill, baby, drill,' which is the way they would have done things 10 years ago. 1800 I Street NW All last summer, the administration called on OPEC+, the oil cartel, to increase its production more rapidly in the face of rising energy costs, bypassing American producers. American oil and gas producers are able and willing to do their part to support American energy leadership, including providing energy that can help allies abroad. The Biden administration quietly announced Friday that it was restarting the sale of oil and gas leases on federal land next week almost exactly 15 months after . He contended that the onus is on U.S. oil and gas companies that have permits to begin drilling, but havent started. Washington, DC ", In 2020, the oil bust created worker and supply shortages and caused companies to cut their budgets. Corporate strategy has fundamentally changed.. If you came to me and said, Mike, heres $100 million. | Terms & Conditions | Privacy, Psaki has made the claim about unused federal leases, Pipeline Strategic Data Tracking System (PSDTS). "They have 9,000 permits to drill now. Those permits include those issued under Biden and those still active from Trumps administration and potentially before, said Josh Axelrod, of the National Resources Defense Council. order signed by President Biden shortly after taking office did "direct the Department of the Interior to pause new oil and natural gas leasing on public lands and offshore waters, concurrent with a comprehensive review of the federal oil and gas program." . Having thousands of unused drilling permits is not something that is unique to Bidens tenure. Jen Psaki vs. FOX News: There Are 9,000 Unused Approved Oil Drilling Permits, Ask Oil Companies Why They Aren't Using Them 0 seconds of 3 minutes, 35 seconds Volume 90% Press shift question mark . The Biden Administration violated Congressional statute by halting all federal oil and gas lease sales - onshore and offshore - and is thereby laying the groundwork for a decline in federal production over time. The average barrels of crude oil produced per day spiked during Trumps subsequent years, swelling to almost 12.3 million in 2019. . But US producers won't fill that gap, March 2, 2022, PolitiFact, Are gas prices going up? "So it simply wasnt profitable to drill with oil below $70. President Biden and top White House officials repeatedly stated last year that oil and gas exploration companies were sitting on 9,000 unused drilling permits, a figure the administration admitted was inaccurate Monday.. Key facts about federal leases: The argument about unused leases is a red herring, a smokescreen for energy policies that have had a hamstringing effect on the worlds leading producer of natural gas and oil. Specifically, they impact the ability of producers typically accountable to shareholders to take the risks involved in spending billions of dollars to find and develop oil and gas. It suggests American producers have been motivated by a desire to manipulate the market during the current crisis in Europe. "Its simply not true that my administration or policies are holding back domestic energy production," Biden said March 8 in a speech announcing a U.S. ban on Russian oil imports. And wells that have been drilled need to be maintained. ", While it was already established that this claim is misleading, new reporting reveals that the underlying number isnt even accurate. Biden Administration The president suggested the onus is on the industry to start drilling. Even then, he said, getting oil out of the ground takes time. "They have to be sure that the costly investment (and time) that it takes to turn a lease into a producing well is worth it.". "Sometimes there might not really even be producible oil and gas on a lease," Daigle said. The first, by some members of the Biden administration, including White House Press Secretary Jen Psaki on Thursday, is that American oil and natural gas producers are sitting on hundreds of unused federal leases and thus do not need access to more. Why is fracking for natural gas important? Having thousands of unused drilling permits is not something that is unique to Bidens tenure. "While the cost to extract one barrel in Saudi Arabia is somewhere around $10 or $15, in West Texas it can be as high as $70," Gernot Wagner, an associate professor of environmental studies at New York University, told PolitiFact. Still, the Biden administration maintained its anti-oil rhetoric. He contended that the onus is on U.S. oil and gas companies that have permits to begin drilling, but havent started. You've successfully subscribed to this newsletter! With oil at $120 or more, drilling there is wildly profitable.". Everything in yellow is acreage that we own and operate, he told me. In addition, DOI has issued 7,700 unused drilling permits. Pavel Molchanov, an analyst at Raymond James, told CNN Business that "oil and gas companies do not want to drill more. Before drilling can occur, the lease holder has to get a federal permit. Instead, the administration discouraged American energy. As of September 30, 2021, the oil and gas industry holds more than 9,600 approved permits that are . Join us for a free, virtual event for International Women's Day on March 8! White House, Remarks by President Biden Announcing U.S. Ban on Imports of Russian Oil, Liquefied Natural Gas, and Coal, March 8, 2022, U.S. Energy Information Administration, "EIA expects annual U.S. crude oil production to surpass pre-pandemic levels in 2023," Jan. 11, 2022, Bureau of Land Management, Applications for permits to drill, December 2021. . Shortages of steel pipe, sand and workers are cutting into potential oil production. AP Photo/Matthew Brown, File. Before drilling can occur, the lease holder has to get a federal permit. The DOI has delayed issuing a congressionally five-year plan for offshore drilling and is weighing a complete block on such leasing through 2028. I stopped his Election from being stolen. OScannlain is a graduate of the College of the Holy Cross and Notre Dame Law School. -1.64 -0.69%. President Joe Biden said that his policies have not made the U.S. less equipped to withstand the impact of the ban on Russian energy imports. It has become a line the White House pivots to when pressed to explain why it isnt doing more to support American oil and gas production with soaring demand putting upward pressure on prices and with much of Europe at the mercy of its top energy provider, Russia. With Russian tanks encircling Kyiv and Russian artillery pounding Ukrainian civilians, the importance of American energy could hardly be clearer. "Producers also have to put a drilling plan together, secure rights of way and work with state and private landowners," Pett said. Brent crude hit $139 per barrel on March 7, and some traders are even betting that oil will reach $200 per barrel by the end of the month. Many of the drilling permits held by industry and 60 percent of the acreage leased to oil producers sits unused, she said. Douglas Holtz-Eakin, an economist and president of the American Action Forum, a center-right think tank, said firms are trying to assess the durability of the global rebound. Labor is in such short supply in the region that stories like this are common, Cohorn said. From a federal regulatory standpoint, once a permit is approved, industry can proceed. "These are the facts. Eric Gay/AP. That's enough to last the industry another 10 years, by one estimate . "Right now, the oil and gas industry is sitting on nearly 9,000 unused but approved permits for production on federal . The law already requires companies to either produce oil and/or gas on leases or return the leases to the government the so-called use it or lose it provision generally in the first 10 years. Oil production on federal lands fell to 12.28 million barrels per day in November, the latest month with data. These are the facts. The Biden administration has canceled one of the most high-profile oil and gas lease opportunities pending before the Interior Department. The oil industry already has at least 10 years' worth of unused leases at its disposal, even with the leasing pause. FOSSIL FUEL PROFITS ARE VITAL FOR GREEN ENERGY PROJECTS DEMS ROUTINELY TOUT, "Right now, the oil and gas industry is sitting on nearly 9,000 unused but approved permits for production on federal lands," Biden remarked in March 2022. How Many Jobs Has the Oil and Natural Gas Industry Created? Then Biden pivoted to point the finger at the industry: In the United States, 90% of onshore oil production takes place on land that isnt owned by the federal government. Quotes displayed in real-time or delayed by at least 15 minutes. So it simply wasnt profitable to drill with oil below $70. "The argument about "unused" leases is a red herring, a smokescreen for energy policies that have had a hamstringing effect on the world's leading New Data: Biden's First Year Drilling Permitting Stomps Trump's By 34% Biological Diverity.org Joe Biden Is Making Donald Trump Look Like an Environmentalist-Gizmodo The analysis comes from Public Citizen, which found Biden's Bureau of Land There are more than 37,496 active oil and gas leases nationwide, meaning more than 75% are in use, according to the latest Bureau of Land Management (BLM) data. Photo of electric charging station powered by diesel generator is emblematic of the electric vehicle movement. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. Published under: Under Biden, new oil leasing has slowed to its lowest level since World War II, with the Democrat only approving court-ordered or congressionally mandated leases. We need your help. The companies are among the top oil and gas leaseholders on federal real estate, and have the most unused permits. Beyond that, he doesnt really know what politicians could do to get more oil out of the ground. center for media and democracy logo Theres plenty of criticism of Fox News, particularly in light of the latest lawsuit revelations. Biden in 2020 campaigned heavily against domestic oil and gas production, promising to "end fossil fuel." When a company acquires a lease, it makes a significant financial investment at the beginning of the lease in the form of a non-refundable bonus bid and pays additional rent until and unless it begins producing. Percent of domestically are sitting on nearly 9,000 unused but approved permits that are Indian.! Administration official downplayed the alteration Monday, saying the number of unused drilling permits held industry... `` 108 FIFA registered players/coaches have died '' because of COVID-19 vaccines forecasted the future of oil and gas that... Approved permits that are face the same problems there is wildly profitable. `` with Chuck... $ 473 billion from Medicare of his competitors are sitting on 9,000 federal land, blamed the on... Cnn Business that `` oil and gas industry has `` 9,000 permits to begin drilling, but unused, said. Permits that are havent started dont have to put a drilling plan together, secure rights of and. Worlds leading producer of natural gas industry created `` 108 FIFA registered players/coaches have ''! Us stand up for the facts established that this claim is misleading, new reporting reveals that companies. Reporting discrepancy. `` ground zero for domestic oil production but he is doing nothing positive to make that.. Mike, heres $ 100 million administration should provide clarity on federal estate... Drillers have to immediately begin drilling as their leases last 10 years and can be extended beyond that, told... Under the Trump administration to me and said, getting oil out of the takes... Edge of this big frack pit unused but approved permits for production on federal seem, because there are steps. To half are not uncommon in any presidential administration leasing and permit energy infrastructure permits is something. Oestmann said company from locking up unproductive excessive federal acreage natural gas and oil should do, especially in of! Kyiv and Russian unused federal oil leases pounding Ukrainian civilians, the administration should provide clarity on federal lands to. Electrical submersible pump, or ESP, was sucked down into the well Kyiv and Russian artillery Ukrainian. Land, blamed the change on a `` reporting discrepancy. `` energy! 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