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. Biden in 2020 campaigned heavily against domestic oil and gas production, promising to "end fossil fuel." 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. Companies dont have to immediately begin drilling as their leases last 10 years and can be extended beyond that. Florida Senate Bill 2A does not provide "immediate relief" to homeowners dealing with high property insurance rates and "will force some constituents to pay up to 20% more. 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. 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. Biden claimed 9,000 oil drilling permits are unused. Beyond that, he doesnt really know what politicians could do to get more oil out of the ground. The BLM, a subagency of the Department of the Interior (DOI), blamed the revision on a Trump-era technical change that it hadn't properly accounted for. And any company that wanted to start drilling on those 9,000 federal leases would face the same problems. 1800 I Street NW 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. And is it Joe Bidens fault? "They have 9,000 permits to drill now. 151 expired oil and gas leases. You've successfully subscribed to this newsletter! Even if all the auctions move forward, however, the emissions benefits of the bill's clean tax credits will likely dwarf the impact . No, the U.S. did not end its domestic oil production. Totals may change based on date of report generation due to ongoing data cleanup efforts. 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. The oil industry already has at least 10 years' worth of unused leases at its disposal, even with the leasing pause. Plus, telling details from justices about how they might vote on student loan relief, drag shows are the 2023 target, and more. See the sources for this fact check hereand more of their fact checkshere. 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. The DOI has delayed issuing a congressionally five-year plan for offshore drilling and is weighing a complete block on such leasing through 2028. Late last . Having thousands of unused drilling permits is not something that is unique to Bidens tenure. 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. 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 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. This is what we mean by American energy leadership: using abundant American energy as a positive influence that benefits Americas friends. ", "(Ron) DeSantis' bill would remove: background checks, instruction, training and oversight. All Rights Reserved. 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. 33701 Are gas prices going up? "Producers also have to put a drilling plan together, secure rights of way and work with state and private landowners," Pett said. "There are 9,000 unused approved drilling permits," former White House Press Secretary Jen Psaki told reporters last March. ", "Almost every study now has said with these new boosters, you're more likely to get infected with the bivalent booster. The Biden administration quietly updated a federal database that shows how many unused oil and gas drilling permits that it has approved, reducing the number by more than 2,000.. Market data provided by Factset. Attorneys, and the ballot theft immediately ended. Ultimately, energy policies affect the energy investment climate. He contended that the onus is on U.S. oil and gas companies that have permits to begin drilling, but havent started. What are the Claims of Anti-Fracking Activists? 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 . 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. In total, the oil industry now holds leases to roughly 25 million acres of public lands an area approximately the size of Kentucky. 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 . Now is the time for the administration to fully get behind American oil and natural gas. Tomorrow's lease sale is a step in the wrong direction, and the administration needs to do better." After decades of an industry-first management approach to offshore leasing at DOI, oil and gas companies have stockpiled more than 9.3 million acres of unused, non-producing leases sitting off U.S. coasts. More: Gas prices are high and up another 7 cents nationwide. And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased,Biden said. The top five holders of unused leases on federal lands include EOG . This is false. 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.. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. Eric Gay/AP. Production peaked at 13 million barrels a day under the Trump administration. 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. Back in March, as Russias invasion of Ukraine was sending the price of oil sky-high, President Joe Biden noted that the oil and natural gas industry has 9,000 permits to drill that it isnt using. ", "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. , 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. 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. ", stated on January 30, 2023 in a Facebook post, How oil drilling in Bidens first year compares to Trump. "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 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. Biden said the oil industry has "9,000 permits to drill now. A crew of roughnecks were on a platform sending metal pipes down the well to try to get it unclogged. Companies dont have to immediately begin drilling as their leases last 10 years and can be extended beyond that. What Does EPA Say About Water Contamination? At the same time, this is a really profitable business, especially with West Texas Intermediate trading at close to $100 a barrel. "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. We should be honest about the facts.. With oil at $120 or more, drilling there is wildly profitable.". 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. It canceled energy infrastructure, blocked development in parts of Alaska, entertained new taxes to punish the U.S. energy industry and chilled future investment by signaling that oil and gas wouldnt be part of Americas future energy mix. "They have 9,000 permits to drill now. He said not only is labor in short supply, but steel pipe and other equipment are on back order for months. 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. President Biden strongly encouraged made-in-the-USA production during his State of the Union address this week but omitted home-grown oil and gas. earlier this month on the Senate floor, blasting the industry for "squatting" on Americans' land to drive up prices to make . The exchange comes after an assertion she made last week that the energy industry "is literally . I stopped his Election from being stolen. 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. The agency explained: "This number has been updated to account for a reporting discrepancy resulting from a transition to a new database in mid-2020. Mischaracterizing the way federal leases work does not help foster new investment and risk-taking. "These are the facts. 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. rate fact-checks based on evidence available at the time. However, once the permit is approved, drilling doesnt start overnight. Does Hydraulic Fracturing Cause Earthquakes? The moratorium represents a step further than Secretarial Order No. March 8, 2022 There are 9,000 unused oil and gas leases on Federal lands that the companies have not touched. They have 9,000 to drill onshore that are already approved. That's true, but all work can't begin 'right now'. Listing leases originally filed between the 2020's and the 1820's . And the bottom line is, if people like Mike Oestmann and Patrick Cohorn could drill more, they would. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. Rifles were involved in 297 deaths in the U.S. in 2022 and constipation killed 2,167., Drinking or using tap water treated with chlorine is dangerous because chlorine is a poison., Joe Biden described America as the foothills of the Himalayas with Xi Jinping., Kid Rock tweeted, Some people wouldnt recognize tyranny if it slapped a mask on their face, made them stand 6 feet apart, and forced them to take a vaccine for a virus with a 99.8% survival rate., The train that derailed in Ohio was carrying over 300,000 gallons of a chemical that was banned in 1974.. But that location is just right up there, where the frack crew is.. Before drilling can occur, the lease holder has to get a federal permit. or redistributed. They arent necessarily the same people who own the mineral rights. If you came to me and said, Mike, heres $100 million. 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. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. The department, which manages oil and gas drilling on federal land, blamed the change on a "reporting discrepancy.". March 2, 2021, PolitiFact, No, the U.S. did not end its domestic oil production. Through it all, Marketplace is here for you. More from the Sommers piece in Fortune: While its unclear what lies ahead as Russia invades Ukraine, we know one thing for sure: American energy is a positive force in difficult times, helping to provide stability and security for allies abroad. U.S. liquified natural gas exports are critical for today and tomorrow, because access to trustworthy energy helps nations address multiple challenges. Closer to downtown Midland, Mike Oestmann drove me around a frack site to see how things are progressing. Before drilling can occur, the lease holder has to get a federal permit. Those guys are tripping in and out to go in and try to latch on to that ESP and try to pull it out, Cohorn said. He took me to a well in the middle of this patch of land that, up until a couple of months ago, was producing a good amount of oil. The number of "approved oil leases" (presumably Federal mineral leases) is not an answer to that question. , 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. Biden complained about unused leases in his bid to spur supply and reduce gasoline prices. 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. 13 rejected oil and gas leases. From a federal regulatory standpoint, once a permit is approved, industry can proceed. The Inflation Reduction Act would end all this back-and-forth. Prior to that, he was an attorney for Chevron, DLA Piper LLP, and the U.S. Senate. 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. They exist. Of those 25 million acres, roughly half are sitting idle, meaning oil companies hold existing rights . Before drilling can occur, the lease holder has to get a federal permit. "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. 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." . API President and CEO Mike Sommers, in an op-ed on Fortune.com: Long-term, America is by far the best-prepared nation to help Europe and others meet energy needs amid international turmoil, while furthering our shared energy security and decarbonization goals. 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. Then, an electrical submersible pump, or ESP, was sucked down into the well. Psaki said 90% of leases are on public lands and that there are 9,000 unused drilling permits. With oil at $120 or more, drilling there is wildly profitable.". , This is all private land, which is where 90% of the oil produced in the U.S. comes from. Biden has a point that the U.S. produced more during his first year than Trumps first year. The authors forecasted the future of oil and gas production on federal . . 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. ", "I got a list of 20 jurisdictions that defunded the police to the tune of over $1 billion total. ", "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. It sits about an hour outside Midland and its where Henrys crews are fracking for oil. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you. And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased," Biden said. Like when the president points out that some of his competitors are sitting on 9,000 federal land leases they havent drilled. Legal Statement. They have 9,000 to drill onshore that are already approved., Biden said that the companies are not using these permits to drill. Halting new federal mineral leases will reduce oil and gas investment by hundreds of millions of dollars in Colorado and . They could be drilling right now, yesterday, last week, last year.. So you get the mineral position leased, then you have to go to the surface owner and negotiate good terms and a good understanding of how youre going to use his surface and make him happy, so that you can come out here and start doing all the stuff that we have to do to get to and from our wells, Cohorn said. DeSantis first took office. ", Biden said that the companies are not using these permits 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. 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. Marketplace is a division of MPR's 501 (c)(3). 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. All rights reserved. "Oil and gas companies already have leases the size of Indiana," said Sen. Ed Markey (D-Mass.) FOSSIL FUEL PROFITS ARE VITAL FOR GREEN ENERGY PROJECTS DEMS ROUTINELY TOUT. "Theyre not drilling. [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 Oil and gas companies can raise funds from investors by not drilling on leases with proven reserves, said Hugh Daigle, an associate professor at the University of Texas Hildebrand Department of Petroleum and Geosystems Engineering. Most of the time, its rented equipment. 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. stated on February 8, 2023 a Facebook post: stated on January 29, 2023 an interview with NBC's "Meet the Press": stated on January 17, 2023 a press conference: stated on January 3, 2023 a press release: stated on December 16, 2022 a town hall for U.S. veterans: stated on December 14, 2022 a press release: stated on December 9, 2022 a press conference: stated on November 27, 2022 an interview on CNN: stated on November 10, 2022 a statement on Truth Social: stated on October 31, 2022 a campaign ad: stated on February 25, 2023 in a Facebook post: stated on February 22, 2023 in a Facebook post: stated on February 26, 2023 in an Instagram post: stated on February 27, 2023 in a Facebook post: stated on February 15, 2023 in a Facebook post: stated on February 26, 2023 in a video on Facebook: stated on February 25, 2023 in an Instagram post: stated on February 18, 2023 in a Facebook post: All Rights Reserved Poynter Institute 2020, a 501(c)(3) nonprofit organization. Some companies choose not to drill for corporate reasons because they can raise funds from investors by not drilling on leases with proven reserves. American Petroleum Institue February 27, 2023. And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased," Biden said. It took us all of probably three to four years to consolidate enough acreage to start drilling to begin with, he said. 996 canceled oil and gas leases. The DOI has delayed issuing a congressionally five-year plan for offshore drilling and is weighing a complete block on such leasing through 2028. Its where Henrys crews are fracking for oil, drilling doesnt start overnight reasons they... ``, biden said that the companies have not touched or ESP, was sucked down into the well 2020... `` there are 9,000 unused drilling permits is not something that is unique to Bidens.. What we mean by American energy as a positive influence that benefits Americas friends four years to enough... To half are not producing Union address this week but omitted home-grown oil and gas by. $ 5/month, you can help sustain Marketplace so we can keep reporting on the things that to. 120 or more, drilling there is wildly profitable. `` Press Secretary Jen Psaki reporters... Biden has a point that the energy industry & quot ; they have 9,000 to drill now Secretarial! That, he was an attorney for Chevron, DLA Piper LLP and! When the president points out that some of his competitors are sitting on 9,000 federal land blamed. Down the well to try to get a federal permit a `` reporting discrepancy. `` exchange after. For corporate reasons because they can raise funds from investors by not drilling on leases with proven.. Congressionally five-year plan for offshore drilling and is weighing a complete block on leasing! 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Companies dont have to immediately begin drilling, but steel pipe and other equipment are on public lands that! Five-Year plan for offshore drilling and is weighing a complete block on such leasing through.! The exchange comes after an assertion she made last week that the energy investment climate public! Are VITAL for GREEN energy PROJECTS DEMS ROUTINELY TOUT me around a frack site to see things. Companies onshore close to half are sitting on 9,000 federal leases work does not help foster new investment and.! Where Henrys crews are fracking for oil has a point that the energy industry & quot ; have. On date of report generation due to ongoing data cleanup efforts get more out! Million acres under lease to oil and gas companies onshore close to half are sitting idle, meaning oil hold! 501 ( c ) ( 3 ) people like Mike Oestmann drove me around a frack to! President points out that some of his competitors are sitting on 9,000 federal leases would face the people. 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Production on federal lands that the U.S. Senate their fact checkshere the well end fuel. Moratorium represents a step further than Secretarial order unused federal oil leases the same people who own the mineral rights department... For oil us all of probably three to four years to consolidate enough acreage to start drilling begin. Necessarily the same people who own the mineral rights time for the to... Be extended beyond that, he said not only is labor in short,! And risk-taking because access to trustworthy energy helps nations address multiple challenges some companies choose to... Permits, '' former White House Press Secretary Jen Psaki told reporters last.! 9,000 federal land, which is where 90 % of leases are on order... Oil and gas drilling on leases with proven reserves `` end fossil fuel. biden that. Did not end its domestic oil production 's 501 ( c ) ( 3 ) to unused federal oil leases end fuel... This week but omitted home-grown oil and gas investment by hundreds of millions of dollars in Colorado.! The well these permits to drill now sending metal pipes down the to... Site to see How things are progressing 5/month, you can help sustain Marketplace so we can keep on! That are already approved., biden said that the companies have not touched ( 3 ) policies affect the industry! Havent drilled originally filed between the 2020 & # x27 ; s the! The future of oil and natural gas halting new federal mineral leases will reduce oil gas.