Perhaps the BEST B1G Forum anywhere, here at College Football Fan Site, CFB51!!!

Several people here seem to keep missing the "we (the US) are going to be pumping more oil next year than any other time in our history" part.

The federal government (as in, part of the Biden administration) prepares these forecasts.  The oil companies are not listening to the politicians speeches.  90% of that is just lip service to their constituents.  The oil companies are reading the forecasts and planning accordingly.  Cancelling the leases means that plans that they had for drilling for oil 5 years from now have to be changed to move to different locations.  Yeah, that's annoying, but it's the "planning" phase of a project.  Nobody was laid off because at this point, these are just lines on paper.

According to the Interior Secretary, there are 9000 other permits for drilling that are approved and are currently not being used. 

Planning as in forecasting. And being as the price of oil and hence it's byproducts (gas, diesel, etc) is determined through futures, you have just confirmed why those prices are rising. There is plenty of uncertainy in the market due to this administration. 

As for the permits, I believe you are wrong. There were 9000 approved leases, not permits. The leases were not being utilized due to the permiting process being brought to a craw by this administration. Without the permits, the leases are useless. 

Customer POV, flying has never been more crappy than during this calendar year in my opinion.   The bar is so low right now.

Agreed, peak Covid '20 was swell along with after 9/11

Probably extra jaded from my extra delay last night over 'equipment' issues.  Translation, 4 delta techs to remove a broken tray table as it is an 'egress' issue and we can't leave til it is resolved.  + 45 minutes on a plane wo A/C as we werent fired up yet.

And there should be more than that.

With the proven fields, we should be an exporter.

exactly

we should not be dependent on any other country for our energy needs

Planning as in forecasting. And being as the price of oil and hence it's byproducts (gas, diesel, etc) is determined through futures, you have just confirmed why those prices are rising. There is plenty of uncertainy in the market due to this administration.

As for the permits, I believe you are wrong. There were 9000 approved leases, not permits. The leases were not being utilized due to the permiting process being brought to a craw by this administration. Without the permits, the leases are useless.

Forecasting for NEXT year, not five years from now.  The price at the pump right now has extremely little to do with what the world is going to be looking like in five years.  As I said before, the oil companies are taking advantage of the situation.  Want proof?  Type "oil futures" (or any futures for that matter, even pork bellies...) into google and you will see they go out a year.  Not five.
Hell, Trump may be back in office in 3 and he'll reverse / retract every word that Biden and this administration uttered.  These oil companies have 100 projects on their board for where to drill.  Those plans are going to be updated every month based upon ongoing permits (as in, local ones, not federal), resource management, transportation, logistics, etc.

As for the second paragraph:
"Interior Secretary Deb Haaland said last month that the oil and gas industry is “set” with the amount of drilling permits at its disposal. She defended Biden administration actions to scale down federal leasing, saying that industry has about 9,000 permits that have been approved but are not being used.

"The industry is free to use these permits in a way they see fit. They just haven’t acted on those,” Haaland told a House committee last week."

Maybe the article I read was wrong or the Interior Secretary is lying, but she says permits.

All I know is we should be energy independent and we are not.

In your view, what specifically does that mean? And what would the primary benefits be?

How about a signal to the oil companies to pump more oil here, rather than beg OPEC for more?

Ending leases and cancelling pipelines are not good signals for the market. There is not much more to say on the topic.

It's a global market. Price isn't dictated based just on how much oil we produce. It's everyone- and it's production & exports. OPEC is the major market mover bc it exports over 60% of all the worlds oil exports. Saudis and Russia together alone export like 30% of the worlds oil. They are the major market movers. That's two freaking countries.

A President who can get the Saudis (and therefore OPEC) to play ball is much more important than any leases or pipelines. Last guy had the Saudis wrapped around his little finger. New guy is an incompetent senile moron who can't even get them to pick up his phone calls.