Liberal Forum

Blackvegetable » 09 Dec 2024, 3:37 pm » wrote: ↑

09 Dec 2024, 3:37 pm

Under the new policy, oil and gas companies will pay higher bonding rates to plug abandoned oil and gas wells as well as increased lease rents, minimum auction bids and royalty rates for the fuels they extract.

Do you know who pays the cost of plugging abandoned wells when companies don't? 

The Bipartisan Infrastructure Law directed the Secretary of the Interior to establish programs to inventory and properly close orphaned wells. The Law provides $4.7 billion for orphaned well site plugging, remediation and restoration activities on federal, Tribal, state and private lands.

These are lands owned by the PUBLIC...it is merely prudent stewardship to keep pricing within reach of private market pricing.

This is **** editing or terrible math.

Do you have any idea what it costs to drill a modern horizontal well?

More diversionary tactics, most common after you've been proven to know nothing about the subject once again, so you change the subject and stupidly act as if you think no one will notice how weak and ignorant you truly are!

It DOESN'T MATTER what the cost is to drill a well, plug an abandoned well, or any remediation costs ordered by the Fed.  And that's because ALL PRODUCTION COSTS ARE PASSED ON TO THE CONSUMER any time the Fed raises what they charge oil companies, whether that be in increased leasing fees, royalties, restrictions, or regulations!  THAT is what happened when Biden took office and IMMEDIATELY reversed ALL OF TRUMP'S CHEAP OIL POLICIES!

So tell us, genius!  If not the PUBLIC paying for these Biden policy mandates, THEN WHY DID THE PRICE OF GAS AND HEATING OIL SKYROCKET just weeks after Biden took office?

You have to be the dumbest liberal on the planet not to be capable of understanding that!