The Biden Administration is finalizing the next five-year offshore leasing program, which has been delayed by several months already, creating yet another uncertainty for the U.S. oil industry which has had to grapple with numerous mixed messages from Washington
The costs of renting offshore oil and gas rigs have more than doubled over the last two years, and could rise to $500,000 per day, oil company executives claimed on Wednesday
to do to make the investment and make our investors happy. and good news, everybody might be shocked that jamie diamond went to the white house to talk about energy. guess what, the investor community has a huge role in this. if i am biden, what i would be talking about right now is how to talk about long term policy stability for the oil and gas industry so that they can make the investments without stranding investments. so that we can actually achieve goals, set those climate goals, but give them a path forward for basic profitability in the future. if you do not do that, they will not make the investments. there is a lot of talk about eliminating intangible drilling costs. there s a lot of talk about that what has been on the tax books since the 1920s to encourage domestic production. when we look at all these things, what i m saying, people are going to be cynical because
now with the support of women, latinos, blacks, independents and fox news polling i wonder if that doesn t play part of a role in that how those people are feeling now. how we americans are feeling. the president s new budget targets fossil fuel industries always calls for the elimination of a number of tax breaks used by oil and gas companies such as detuck shuns for drilling costs and credit for certain wells. this comes as americans are paying record high prices at the pump and heating their homes. jackie. we re here at an energy company today. fox business is doing the energy independence summit. this company delivers home heating oil. you have seen the prices of that go up and prices at the pump grow up. what you see in the proposed budget is more of this administration s anti-energy, anti-fossil fuel push, right? we re dealing with a crisis right now overseas that helped send prices up.