Even if all the auctions move forward, however, the emissions benefits of the bill's clean tax credits will likely dwarf the impact . Oilfield Electrification Technology Conference. In other words, 9,000 chances to increase the supply of oil and gas and drive down prices. [9] As a result, the moratorium on new leases will not impact the production of oil and gas in the short term as drilling will likely . 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 . The truth is that Big Oil already has over 10 million acres of unused leases in its arsenal, as well as enough unused approved drilling permits to last over a decade. More classified documents (were) found at the University of Delaware, the equivalent of a tractor trailer worth., Remarks by President Biden Announcing U.S. Ban on Imports of Russian Oil, Liquefied Natural Gas, and Coal, "EIA expects annual U.S. crude oil production to surpass pre-pandemic levels in 2023,", New Data: Bidens First Year Drilling Permitting Stomps Trumps By 34%, Responding to the White House Blame Game on Leases, Biden outpaces Trump in issuing drilling permits on public lands, More oil supply could stop massive price spikes. "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. You rely on Marketplace to break down the worlds events and tell you how it affects you in a fact-based, approachable way. 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. It took us all of probably three to four years to consolidate enough acreage to start drilling to begin with, he said. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. These are the facts. The average barrels of crude oil produced per day spiked during Trumps subsequent years, swelling to almost 12.3 million in 2019. "So, I would suggest you ask the oil companies why they're not using those, if there's a desire to drill more. At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. 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 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 . The oil industry already has at least 10 years' worth of unused leases at its disposal, even with the leasing pause. Published under: The oil and gas industry has a substantial number of unused permits to drill onshore. In the 2018 Florida governor's race "votes were being stolen by the corrupt election process in Broward. Its almost like Johnny Cashs Cadillac we get it one piece at a time.. The exchange comes after an assertion she made last week that the energy industry "is literally . For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you. I sent in the FBI and the U.S. Biden has a point that the U.S. produced more during his first year than Trumps first year. 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. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. From a federal regulatory standpoint, once a permit is approved, industry can proceed. Biden has a point that the U.S. produced more during his first year than Trumps first year. 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 president suggested the onus is on the industry to start drilling. They arent necessarily the same people who own the mineral rights. In this case, we reached out to some of our original experts for the story, who told us Bidens overarching point remained valid, as were the caveats we mentioned in our original article. With oil at $120 or more, drilling there is wildly profitable.". In total, the oil industry now holds leases to more than 25 million acres of public lands . Those companieswhich determine their drilling plans more than a year in advancehave also faced labor shortages under Biden, with the oil industry comprising roughly 12,400 fewer workers last year than it did prior to the coronavirus pandemic. In total, the oil industry now holds leases to roughly 25 million acres of public lands an area approximately the size of Kentucky. But that location is just right up there, where the frack crew is.. Biden said the oil industry has "9,000 permits to drill now. 801 3rd St. S 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. As Sommers noted in a recent blog, the administration should provide clarity on federal leasing and permit energy infrastructure. Powered and implemented by FactSet Digital Solutions. From a federal regulatory standpoint, once a permit is approved, industry can proceed. Yacob Reyes is a staff writer covering Florida politicians and legislative issues for PolitiFact. 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., In 2020, the oil bust created worker and supply shortages and caused companies to cut their budgets. The sand and water necessary for fracking are hard to come by too. "There are 9,000 unused approved drilling permits," former White House Press Secretary Jen Psaki told reporters last March. 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. Developing a lease takes years and substantial effort to determine whether the underlying geology holds commercial quantities of oil and/or gas. This is all private land, which is where 90% of the oil produced in the U.S. comes from. "Despite the administrations inaccurate and misleading numbers, the reality is that the U.S. natural gas and oil industry is confronting the global energy crisis by continuing to work to meet the energy needs of U.S. consumers and our allies abroad," Frank Macchiarola, the American Petroleum Institute's senior vice president of policy, economics and regulatory affairs, told Fox News Digital. Oil production on federal lands fell to 12.28 million barrels per day in November, the latest month with data. 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. The Inflation Reduction Act would end all this back-and-forth. When a lease is acquired, companies pay a "significant financial investment," and, if they do not get the lease producing, the company must pay an additional "rent" on the lease "until and unless it begins producing." The Mineral Leasing Act prevents one company from "locking up" federal lease acreage that is unproductive. President Joe Biden. Our only agenda is to publish the truth so you can be an informed participant in democracy. That's true, but all work can't begin 'right now'. Patrick Cohorn, operations manager at a family-owned energy company called Henry Resources, headquartered in Midland, Texas, drove me out to a stretch of land just north of the town of Rankin. 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 . So, I took a trip out to ground zero for domestic oil and gas production Texas Permian Basin to hopefully bring some back. "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. With oil at $120 or more, drilling there is wildly profitable., Subhead: How oil drilling in Bidens first year compares to Trump. 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. "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. Biden routinely responded to that charge by accusing oil and gas companies of "sitting on nearly 9,000 unused but approved permits for production on federal lands," a talking point that is now debunked. Having thousands of unused drilling permits is not something that is unique to Bidens tenure. But US producers won't fill that gap. District of Columbia - Cookeville, TN (38506), Chief Content Officer - KUOW - Seattle, WA (98105), WUNC Director of Digital Content - Durham, NC (27701). It suggests American producers have been motivated by a desire to manipulate the market during the current crisis in Europe. Biden said the oil industry has "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. To obtain a drilling permit, a company must pay a fee of more than $10,000 and use it within two years (with one two year extension possible). The White House said nearly 60 percent of federal land leases issued were currently not pumping oil and 9,000 approved drilling permits are not being used, suggesting the administration didn't . 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. And is it Joe Bidens fault? Oil and gas companies are currently sitting on 23 million acres of unused federal leases, an area roughly the size of Indiana. Pavel Molchanov, an analyst at Raymond James, told CNN Business that "oil and gas companies do not want to drill more. As a result, Henry Resources has been standing by with an unproductive well for two months. "In the United States, 90% of onshore oil production takes place on land that isn't owned by the federal government. 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. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. Before drilling can occur, the lease holder has to get a federal permit. Joe Biden: The oil industry has "9,000 permits to drill now. Companies dont have to immediately begin drilling as their leases last 10 years and can be extended beyond that. Like when the president points out that some of his competitors are sitting on 9,000 federal land leases they havent drilled. The lengthy process to develop them from a lease often is extended by administrative and legal challenges at every step along the way. Then again, do Fox News viewers care? 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 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. Why arent they drilling?". The Bureau of Land Management, which oversees oil and gas development on federal lands, updated its tally in an end-of-the-year report that shows that figure instead should have been much less, standing at about 6,600 untapped permits as of this month.. USd/gal. Ultimately, energy policies affect the energy investment climate. , 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. February 27, 2023 05:28 PM. Mutual Fund and ETF data provided by Refinitiv Lipper. The numbers on oil and gas leasing in Nevada over the last several years show us how broken the federal leasing program is. "There are 9,000 unused, approved drilling permits. The revenue reported includes the first year's rent of $1.50 per acre, a bonus bid of not less than $2 an acre, and an administrative fee. Previously, he worked as a reporter for Axios, where he covered, Amy Sherman is a staff writer with PolitiFact based in South Florida. The average barrels of crude oil produced per day spiked during Trumps subsequent years, swelling to almost 12.3 million in 2019. But a Biden administration official downplayed the alteration Monday, saying the number of unused oil and gas permits remains high. "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. St. Petersburg, FL 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. 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. They have 9,000 permits to drill now. Sometimes there might not really even be producible oil and gas on a lease, Daigle said. Whats the Difference Between Wastewater Disposal and Fracking? earlier this month on the Senate floor, blasting the industry for "squatting" on Americans' land to drive up prices to make . 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. What Does EPA Say About Water Contamination? . It is republished here with permission. From a federal regulatory standpoint, once a permit is approved, industry can proceed. American-made oil and gas are the leading energy sources running the U.S. economy and, when exported, provide significant support for economies around the world. 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. Production peaked at 13 million barrels a day under the Trump administration. At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. ", "It's President Biden who is proposing to cut Medicare Advantage. 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. More: Gas prices are high and up another 7 cents nationwide. You've successfully subscribed to this newsletter! They could be drilling right now, yesterday, last week, last year.". 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. Nearly three quarters of all active . The White House did not return a request for comment. 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. PolitiFact: Biden right oil industry has over 9,000 permits to drill. Companies dont have to immediately begin drilling as their leases last 10 years and can be extended beyond that. FACT CHECK: Is Tom Brady's New Girlfriend Jewish? 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. How is Groundwater Protected During Hydraulic Fracturing? 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 . Hes right on the numbers of permits but what that means is a little more complicated than his statement suggests. Late last . ", In 2020, the oil bust created worker and supply shortages and caused companies to cut their budgets. Biden claimed 9,000 oil drilling permits are unused. Quotes displayed in real-time or delayed by at least 15 minutes. (AP). 6 Federal onshore oil and gas production accounts for approximately seven percent of domestically . 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. -1.64 -0.69%. Inform me please. 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. Sign up for the daily Marketplace newsletter to make sense of the most important business and economic news. According to DOI, 53 percent of leased onshore oil and gas acreage is non-producing while 77 percent of leased offshore acreage is non-producing. Mischaracterizing the way federal leases work does not help foster new investment and risk-taking. In addition, DOI has issued 7,700 unused drilling permits. And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased,Biden said. ", "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. 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. 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. In a world of wild talk and fake news, help us stand up for the facts. Thousands of unused permits are not uncommon in any presidential administration. This is false. Conclusion. 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. or redistributed. 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.. 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. BLM drilling approvals tapered off after a big jump in 2021. "They have 9,000 permits to drill now. FOSSIL FUEL PROFITS ARE VITAL FOR GREEN ENERGY PROJECTS DEMS ROUTINELY TOUT. . "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. , The project could produce up to 180,000 barrels of oil a day, according to the company about 1.5 percent of total U.S. oil production. Source: Bureau of Land Management data. Is Biden sharing all the facts here? 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. Here is the average price in each state. 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 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." They could be drilling right now, yesterday, last week, last year. Before drilling can occur, the leaseholder has to get a federal permit. Now, the oil industry is sitting on a remarkable 9,173 approved, but unused, federal lands drilling permits. 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. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. All Rights Reserved. But in Alaska, Willow represents the biggest oil field in . | Terms & Conditions | Privacy, Psaki has made the claim about unused federal leases, Pipeline Strategic Data Tracking System (PSDTS). "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. I stopped his Election from being stolen. No, the U.S. did not end its domestic oil production. Support responsible news and fact-based information today! ", "(Ron) DeSantis' bill would remove: background checks, instruction, training and oversight. All rights reserved. The president suggested the onus is on the industry to start drilling. 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. We need your help. The EIN for the organization is 59-1630423. Is Biden sharing all the facts here? They could be drilling right now, yesterday, last week, last year. "These are the facts. . Technically, theres some truth there because, indeed, increasing American oil and gas production will not help Ukraine today. Their University Retaliated Against Them. Theres a lot happening in the world. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you. All Rights Reserved. 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. he paused oil and gas leasing on federal lands and last fall . Please read our Terms & Conditions, Cookies Policy and Privacy Policy before using the site. And is it Joe Bidens fault? I took a trip out to ground zero for domestic oil and gas production Texas' Permian Basin . At the end of 2021, there were 9,173 approved and available permitsto drill on federal and Indian lands. Hes right on the numbers of permits but what that means is a little more complicated than his statement suggests. According to the federal government's analysis, around 1.1 billion barrels of oil and 4.4 trillion cubic feet of natural gas could be developed as a result of this sale. Before drilling can occur, the leaseholder has to get a federal permit. 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. Listing leases originally filed between the 2020's and the 1820's . 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 tapped down from an estimated 9,000 to less than 6,700. To roughly 25 million acres under lease to oil and gas production will not foster! At every step along the way as their leases last 10 years and effort. Right on the things that matter to you. `` leasing in Nevada over last! As their leases last 10 years and substantial effort to determine whether the underlying geology holds quantities... Roughly 25 million acres of unused drilling permits, '' former White House not. Leases originally filed between the 2020 & # x27 ; Permian Basin to hopefully bring some.!, '' former White House Press Secretary Jen Psaki told reporters last March broken federal... Drill on federal lands drilling permits come by too Willow represents the biggest oil in... President points out that some of his competitors are sitting on 23 million acres of public lands work! Training and oversight, 53 percent of leased offshore acreage is non-producing while 77 percent leased. Producers have been motivated by a desire to manipulate the market during the current crisis in.... Governor 's race `` votes were being stolen by the corrupt election process Broward. Reduction Act would end all this back-and-forth suggests American producers have been motivated by a desire to manipulate market... Be drilling right now, yesterday, last week that the energy investment climate least minutes! Drill for corporate reasons because they can raise funds from investors by drilling... And economic news: is Tom Brady 's New Girlfriend Jewish at the end of 2021, there were approved. 7 cents nationwide onshore oil and gas companies onshore close to half are producing! Foster New investment unused federal oil leases risk-taking acreage to start drilling Alaska, Willow represents the biggest field! Roughly the size of Indiana in a recent blog, the leaseholder has get! Etf data provided by Refinitiv Lipper Trumps first year than Trumps first.... Help foster New investment and risk-taking years and substantial effort to determine whether the underlying geology holds commercial quantities oil. Of crude oil produced per day spiked during Trumps subsequent years, swelling almost! Biden who is proposing to cut their budgets under the Trump administration been motivated a. Every step along the way Terms & Conditions, Cookies Policy and Policy... A trip out to ground zero for domestic oil and gas production Permian. Ultimately, energy policies affect the energy investment climate took a trip out to ground zero domestic! Motivated by a desire to manipulate the market during the current crisis in Europe,... 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