Market data provided by Factset. 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. U.S. liquified natural gas exports are critical for today and tomorrow, because access to trustworthy energy helps nations address multiple challenges. However, once the permit is approved, drilling doesnt start overnight. Were a company running two rigs. "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 . When the Biden Administration paused all new federal oil and gas leasing in January 2021, it was met with a swift and coordinated pushback from the industry and its allies. The head of the biggest U.S. oil lobby groups said the Biden administration is "misusing facts" when it claims the industry has more than 9,000 federal drilling permits on which it can drill . The EIN for the organization is 59-1630423. Pavel Molchanov, an analyst at Raymond James, told CNN Business that "oil and gas companies do not want to drill more. "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.". T he Interior Department revised down its estimate of the total number of unused federal drilling permits, which the Biden administration used much of last year as a . noted that the oil and natural gas industry, Why politicians have little sway over gas prices, To drill or not to drill, that is the question with oil at $80 a barrel, In West Texas, astronomers worry about growing oilfield light pollution, Texas oil and gas industry should temper its job-creation claims, report says, Fracking flourishes as era of net-zero carbon looms, Your donation today powers the independent journalism that you rely on, Confident in the economy or not, American consumers are going out, Why the U.S. wants more limits on Americans' private investment in Chinese firms, Ticktock, TikTok: Government agencies are on the clock to purge the app from all devices, Biden's student loan forgiveness plan goes before the Supreme Court. In total, the oil industry now holds leases to roughly 25 million acres of public lands an area approximately the size of Kentucky. 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 . But one year after announcing a halt to any new federal oil and gas leasing, Biden has outpaced Donald Trump in issuing drilling permits on public lands.After setting a record for the largest . 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. The number of "approved oil leases" (presumably Federal mineral leases) is not an answer to that question. 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, Feb. 28, 2022, PolitiFact, The U.S. did not double oil imports from Russia in the last year, Feb. 28, 2022, Email interview, Vedant Patel, White House spokesperson, March 8, 2022, Email interview, Melissa Schwartz, Department of Interior spokesperson, March 8, 2022, Email interview, Jennifer Pett, spokesperson for the Independent Petroleum Association of America, March 8, 2022, Email interview, Josh Axelrod, National Resources Defense Council senior advocate, March 8, 2022, Email interview, Hugh Daigle, associate professor at the University of Texas Hildebrand Department of Petroleum and Geosystems Engineering, March 9, 2022, Email interview, Gernot Wagner, associate professor of environmental studies at New York University, March 9, 2022, Email interview, Gary Yohe, professor of economics and environmental studies at Wesleyan University, March 9, 2022, This article originally appeared on Austin American-Statesman: PolitiFact: Biden right oil industry has over 9,000 permits to drill, 02-2503-2490. Whats the Difference Between Wastewater Disposal and Fracking? "Right now, the oil and gas industry is sitting on more than 12 million acres of non-producing Federal land with 9,000 unused but approved permits for drilling," the White House said in an April . 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. "They have 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. re: 9000 unused oil leases. Before drilling can occur, the lease holder has to get a federal permit. Biden has a point that the U.S. produced more during his first year than Trumps first year. The DOI has delayed issuing a congressionally five-year plan for offshore drilling and is weighing a complete block on such leasing through 2028. The DOI has delayed issuing a congressionally five-year plan for offshore drilling and is weighing a complete block on such leasing through 2028. Previously, he worked as a reporter for Axios, where he covered, Amy Sherman is a staff writer with PolitiFact based in South Florida. This is what we mean by American energy leadership: using abundant American energy as a positive influence that benefits Americas friends. He said that right now, even if he can get the upfront cash he needs to drill more wells, its unlikely he could make it happen. ", "By the way, one thing I want to say about the oil companies: They talk about how we have they have 9,000 permits to drill," he added months later. We should be honest about the facts.". Cohorn said subcontractors are so busy, they can only make it to wells like this every so often. They could be drilling right now, yesterday, last week, last year.". First, drillers have to build roads to get the crews and equipment out there. 236.31. The Biden campaign's crusade against fossil fuelswhich helped the Democrat appeal to young liberal votershas made many U.S. oil companies wary of investing in new drilling operations given the long-term political risk, the Washington Post reported last year. They could be drilling right now, yesterday, last week, last year. A drilling rig operated by Camino Natural Resources, LLC, in Calumet, Oklahoma. "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 Join us for a free, virtual event for International Women's Day on March 8! 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. Powered and implemented by FactSet Digital Solutions. Sometimes there might not really even be producible oil and gas on a lease, Daigle said. During Bidens first year in office, the U.S. produced an average of about 11 million barrels of crude oil per day compared to Trumps 9 million barrels per day in his first year. She added that oil and gas companies have been limiting costs and . forward with a plan to lock up even more of our state's land in unused oil and gas leases. "Theyre not drilling. 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. "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. Instead, the administration discouraged American energy. Of those 25 million acres, roughly half are sitting idle, meaning oil companies hold existing rights . District of Columbia Joe Biden 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. Companies dont have to immediately begin drilling as their leases last 10 years and can be extended beyond that. They have 9,000 permits to drill now. "In the United States, 90% of onshore oil production takes place on land that isn't owned by the federal government. Many of the drilling permits held by industry and 60 percent of the acreage leased to oil producers sits unused, she said. But it does import some of its oil from Russia, Feb. 28, 2022, PolitiFact, The U.S. did not double oil imports from Russia in the last year, Feb. 28, 2022, Email interview, Vedant Patel, White House spokesperson, March 8, 2022, Email interview, Melissa Schwartz, Department of Interior spokesperson, March 8, 2022, Email interview, Jennifer Pett, spokesperson for the Independent Petroleum Association of America, March 8, 2022, Email interview, Josh Axelrod, National Resources Defense Council senior advocate, March 8, 2022, Email interview, Hugh Daigle, associate professor at the University of Texas Hildebrand Department of Petroleum and Geosystems Engineering, March 9, 2022, Email interview, Gernot Wagner, associate professor of environmental studies at New York University, March 9, 2022, Email interview, Gary Yohe, professor of economics and environmental studies at Wesleyan University, March 9, 2022. They could be drilling right now, yesterday, last week, last year. They have 9,000 to drill onshore that are already approved., Biden said that the companies are not using these permits to drill. , The Biden administration quietly updated a federal database showing how many unused oil and gas drilling permits it has approved, reducing the number by more than 2,000.. So the surface pads, as you can see from here, its kind of hard to see. . As of September 30, 2021, the oil and gas industry holds more than 9,600 approved permits that are . 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. Before drilling can occur, the lease holder has to get a federal permit. ", "Ron DeSantis voted to cut $473 billion from Medicare. Then, Biden administration support for robust U.S. production might have helped deter Moscow from thinking that European nations dependent on Russian energy might do less to oppose Russia the aggressor. The BLM's current lease sales and NEPA process have included a 30-day scoping period, 30 . center for media and democracy logo "They have 9,000 permits to drill now. 5 withdrawn oil and gas leases. It took us all of probably three to four years to consolidate enough acreage to start drilling to begin with, he said. Legal Statement. Is that True? They could be drilling right now, yesterday . What are the Claims of Anti-Fracking Activists? Is Biden sharing all the facts here? FOSSIL FUEL PROFITS ARE VITAL FOR GREEN ENERGY PROJECTS DEMS ROUTINELY TOUT. Nearly three quarters of all active . 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. ", "Florida's water is dirtier and sicker than when Gov. But US producers won't fill that gap. Get the Poynter newsletter that's right for you. | Terms & Conditions | Privacy, Psaki has made the claim about unused federal leases, Pipeline Strategic Data Tracking System (PSDTS). This is false. 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. At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. But its not as simple as Biden made it seem, because there are some steps before companies begin production. Shortages of steel pipe, sand and workers are cutting into potential oil production. EIN: 41-0953924. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. St. Petersburg, FL I cant get the people to do the work, Oestmann said. They could be drilling right now, yesterday, last week, last year." Biden's number is correct: There are 9,137 approved permits to . Now, the oil industry is sitting on a remarkable 9,173 approved, but unused, federal lands drilling permits. "So it simply wasnt profitable to drill with oil below $70. 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 top five holders of unused leases on federal lands include EOG . The lengthy process to develop them from a lease often is extended by administrative and legal challenges at every step along the way. 5 relinquished oil and gas leases. A crew of roughnecks were on a platform sending metal pipes down the well to try to get it unclogged. I stopped his Election from being stolen. This is where were parked, right here on the edge of this big frack pit.. But a Biden administration official downplayed the alteration Monday, saying the number of unused oil and gas permits remains high. Then again, do Fox News viewers care? But its not as simple as Biden made it seem, because there are some steps before companies begin production. CEO of Alaska Oil & Gas Association Kara Moriarty joined "Fox & Friends First" to discuss the implications of canceling the project and why it would hurt the locals most. Fossil Fuels The moratorium will extend the duration of the . Thousands of unused permits are not uncommon in any presidential administration. "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 Oils own decision to funnel their profits into the pockets of shareholders and executives," the official told Fox News Digital. The U.S. Energy Information Administration in 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. The update we have now is what we are able to provide.". [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 The president suggested the onus is on the industry to start drilling. They exist. Biden Administration Gas prices later reached record highsin June 2022, the average price for a gallon of gas in the United States hit $5 for the first time ever. Listing leases originally filed between the 2020's and the 1820's . As Sommers noted in a recent blog, the administration should provide clarity on federal leasing and permit energy infrastructure. March 2, 2021, PolitiFact, No, the U.S. did not end its domestic oil production. Washington, DC They arent necessarily the same people who own the mineral rights. Alaska leaders demand Biden administration 'not kill' oil drilling project, West Virginia House approves pay raises for governor, other officials, West Virginia House passes bill to ban child marriage, Cruz, Roy demand answers from Garland on FBI allegedly secretly recording progressive anti-abortion group, Biden quotes Dr. Seuss after previously erasing beloved author from National Reading Day. But US producers won't fill that gap, March 2, 2022, PolitiFact, Are gas prices going up? For decades, the agency has prioritized oil and gas development over many other uses, allowing the industry to sink over 96,000 wells on public lands and accumulate millions of acres of unused leases. the Mineral Leasing Act. 13 rejected oil and gas leases. "So, I would suggest you ask the oil companies why they're not using those, if there's a desire to drill more. And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased," Biden said. "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. "There are 9,000 unused approved drilling permits," former White House Press Secretary Jen Psaki told reporters last March. That data showed that as of the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. 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. 6 Federal onshore oil and gas production accounts for approximately seven percent of domestically . Experts also suggested that drilling domestically is more costly than drilling overseas, which could further deter oil companies in the U.S. from upping production. It suggests American producers have been motivated by a desire to manipulate the market during the current crisis in Europe. And as recently as November, White House spokesperson John Kirby stated that there are "there are plenty of opportunities for oil and gas companies to drill here in the United States," citing the 9,000-permit figure. Hes the CEO of a company called Tall City Exploration III. 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. (AP Photo / Susan Walsh / File). Drilling He worked in the oil and gas industry for five years and now teaches petroleum engineering at the University of Texas at Austin. Before drilling can occur, the leaseholder has to get a federal permit. 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 be . Feb 2021 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2022 Feb 0 100 200 300 400 500 600 700. He knows that changing the tone in Washington wont get him the steel pipe, sand and workers he needs for his rigs. Those permits . The president suggested the onus is on the industry to start drilling. March 8, 2022 There are 9,000 unused oil and gas leases on Federal lands that the companies have not touched. Editors note, Feb. 28, 2023: This fact-check of President Joe Bidens statement in March 2022 was based on available data at the time from the Bureau of Land Management. What the administration is doing is theyre trying to do what they can, with what little leverage they have, to try to get oil and gasoline prices down.. 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. Now, the oil industry is sitting on a remarkable 9,173 approved, but unused, federal lands drilling permits. Psaki said 90% of leases are on public lands and that there are 9,000 unused drilling permits. A shale well, for example, could cost about $7 million to drill. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. Having thousands of unused drilling permits is not something that is unique to Bidens tenure. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. , 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 . 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. Official govt docs expose Michelle Obamas 14 year history as a man., "Woody Harrelsons 60 seconds in the middle of his monologue was cut out of the edits released after the show., BREAKING Trump preps Marines to stop presidential coup.. In addition, DOI has issued 7,700 unused drilling permits. 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. "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. "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. 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. Gas Prices 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. Biden in 2020 campaigned heavily against domestic oil and gas production, promising to "end fossil fuel." For federal onshore, the Mineral Leasing Act prevents any one company from locking up unproductive excessive federal acreage. "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. Does Fracking Cause Flaming Water Faucets? Now is the time for the administration to fully get behind American oil and natural gas. The Democrat went on to cancel the Keystone XL pipeline and implement a moratorium on new gas leases within days of taking office. 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. 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. The U.S. Energy Information Administration in 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. The exchange comes after an assertion she made last week that the energy industry "is literally . Biden has a point that the U.S. produced more during his first year than Trumps first year. The second, by some industry opponents, is that ramping up U.S. production will not help the Ukrainian people today. ", In 2020, the oil bust created worker and supply shortages and caused companies to cut their budgets. , 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. For perspective, Doug Ackerman, President of the New Mexico Oil and Gas Association, said it takes upwards of 12 months to get the 30-50 permits required to drill a single well during a House Natural Resources subcommittee hearing earlier this month. 25). The oil and gas industry has a substantial number of unused permits to drill onshore. 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. To be clear, Biden wasnt wrong about that number, but citing it as evidence that energy companies are sitting on their hands to keep prices high needs a bit more context. Mutual Fund and ETF data provided by Refinitiv Lipper. We should be honest about the facts.". "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.". Department of the Interior It sits about an hour outside Midland and its where Henrys crews are fracking for oil. At issue in particular was the administration's 60-day pause on new federal oil and gas leases, which several senators mischaracterized as a "ban". Before coming to API, Kevin served in the White House as Special Assistant to the President in two different roles, and as Deputy Solicitor for Energy & Minerals at the U.S. Department of the Interior. Our only agenda is to publish the truth so you can be an informed participant in democracy. 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 . Production peaked at 13 million barrels a day under the Trump administration. This material may not be published, broadcast, rewritten, American energy as a positive influence that benefits Americas friends nations address multiple challenges 's for! 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