Biden to Increase U.S. Oil Lease Fees 50% While Accusing ‘Big Oil’ of Anticompetitive Activities

The Biden-Harris administration issued a report Friday to increase the price of oil leasing fees on federal lands in the United States by 50 percent—even while accusing oil companies of artificially increasing prices through illegal and anticompetitive actions.

Despite record-high gasoline prices impacting American families across the country with winter around the corner, the Biden-Harris administration is recommending Congress hike the cost of oil leases on government lands from 12.50 percent to 18.75 percent.



https://www.breitbart.com/economy/2...-accusing-big-oil-anticompetitive-activities/

So this is guaranteed to make everything more expensive from here on out.

Gasoline, food, clothing,etc will see a spike in pricing much like we see with Bidenflation...and this will be permanent.

So enjoy 5 dollar a gallon gas like I'm paying here.

And enjoy the deleterious effect this will have on the American economy.

 

Things just keep getting worse for Brandon, Americans suffering and dying under him more and more by the day. Genuinely the worst president of our lifetime.

 

Its criminal what this guys handlers are doing.

 

I mean, there ya go. This isn't some supply-chain thing here - this is Robinette raising the cost of energy independent of what is going on worldwide. When even the NYT is saying hey, this is gonna raise prices - Geez, what is Slo-Mo Joe thinking? Is he TRYING to turn the entire country red?

Oh and in before "Faux RW outrage!"

 

*bumping* your own thread AFTER 6 HOURS (Because of *crickets*)?

Too Funny...

Anyway, on-topic, as to THIS Part (from the OP):

"this will be permanent.
So enjoy 5 dollar a gallon gas like I'm paying here."

^So, What?

It is a SMALL PRICE To Pay to rid America of a Mistakenly-Elected Imbecile (like Donald Trump)...
A little bit of "Collateral Damage" was inevitable...

So, at the end of the day, this "Inflation" is just Collateral Damage...
Worth every bit of the Trade-Off to get rid of that Orange Moron...

 

AJ can you show where I bumped my own thread?

Trump is gonna have to take out the trash...

 

The committee who runs the Oval Office have out done themselves with this one.

Hey libs, I’m asking again for the 20th time, what has Biden done for America and Americans?

 

To a degree, AJ is right - if the consumer anger over Robinette's boneheaded inflation crusade causes Congress to become completely controlled by the GOP - which it likely will as these prices won't go down for a long time - then yes, I suppose it will be worth it.

And when voters in 2024 remember which party did this, well - do the math.

"Biden will continue to cause collateral damage." Now THERE'S a campaign slogan for ya!

 

Nobody will forget who did this.

 

At least Robinette isn't the WORST one in the government right now:

 

Trump was a better president than Brandon by a considerable margin. Your hate of him is unjustified.

 

that is the thing. The folks who ran the Obama admin are more brazen this time around

We need to feel pity for Democrat voters because we do not want to believe that they actually voted for this. We need to believe that they are just ignorant to what harm is caused by Democrat votes.

 

Or it will make more land available for drilling. A lot of leases are bought as a cheap way to inflate the asset side of the contracting companies' balance sheets. It is why there are so many leases for lands with no plans whatsoever to put them into production. Hell, I've read a few stories of people who didn't even have a real company buying leases hoping to be able to sell them off at a profit.

 

The rate 12.50% has not changed since the Mineral Leasing Act set the oil/gas leases in 1920. Just some perspective.

 

You're talking about two separate things here. We already had a thread about Robinette opening up the Gulf of Mexico for leases HERE. Note that a couple of us there were amazed that Biden somehow managed to do the right thing for once, even though he probably didn't realize it and may not even remember he did so. This, though - he's just raising fees which will in turn be passed on to us in so many ways it's uncountable. And then blaming the oil companies for raising their fees? I think the word here is "chutzpah".

I dunno, common sense tells us that in the midst of a huge inflationary spiral you need to lower costs not raise them - but then again, common sense seems to be the least common of all senses to Robinette. I know we're gonna have someone here say "But it's a worldwide spiral!" but don't even try to tell me Slo-Mo Joe isn't throwing gasoline on the fire with this move - he's got many ways to either lower prices or lesser the severity of inflation. This is the opposite of trying to do that.

 

It’s our oil, why shouldn’t they pay more? Should we just make it free and hope that’ll get them to give it back to us cheaper?

 

This. It’s our oil. Should we give it away for free so they can sell it back to us at huge profits?

 

This isnt a good thing lmao.

Though I am not surprised you may think so.

So use it right now or give it away so others can have huge profits? The only 2 options? Thats dems for ya, its black and white with no middle ground. No other options ever lol.

 

so let's watch and see, if prices go up or down from here

 

Just remember, while you were struggling with high gas prices, oil companies were raking in the bucks

Biden is finally starting to reverse this trend Trump set in motion last year

 

Exxon Mobil Corporation today announced estimated third-quarter 2021 earnings of $6.8 billion

Wow I hope they’re gonna be ok!!!

 

As someone noted, 12.5% has been the price since 1920. An increase of 6.25 points is not going to cause the US to burn down, fall over and collapse into a swamp.

You would be experiencing the same amount of Demand-pull Inflation under Trump.

When you graduate high school, you can go to college and take economics courses which will help you understand the differences between Monetary Inflation (not happening now) and Demand-pull Inflation (happening in a big way) and Cost-push Inflation (rearing its ugly head) and Wage Inflation (not happening now.)

 

You can never be energy independent.

It's not the quantity of oil you produce, it's the quality of the oil you produce.

The US exported 264.3 Million barrels of finished motor gasoline in 2020.

I'm absolutely certain you have no clue why.

When you get to the 10th Grade, tell your high school counselor you wanna take chemistry.

Assuming your school isn't dominated by Liberals, you should learn about ppm (parts per Million) and you should conduct a Sulfur Reduction experiment in chemistry lab.

Once you do that, you'll understand how costly and time-consuming it is to reduce 54,600 ppm Sulfur to 10 ppm Sulfur to meet EPA Tier 3 Standards.

And then maybe, just maybe, you'll realize that paying $5-$7/gallon for gasoline because all you got is crappy high Sulfur oils in the US just isn't worth it and you're way better off importing oil from other countries.

Okay, then stop consuming. Demand-pull Inflation is caused by consumers, like you.

Those are earnings, not profits. I'm not surprised that you don't understand the difference.

 

Lol yah?
Exxon said Friday that its third-quarter profit was the highest in years as improving demand, higher commodity prices and streamlined operations boosted results

 

Now it's 18.75%.

And sure to raise costs for Americans.

You happy now?