next year. we ve seen that from, what we see their profit margins. guys, let s take a look then. we are talking about oil production and cancellations and delays under the president. look at what we are talking about. back in 2021, everybody knows all about keystone. do not forget and were, and in 2022 the hit keep on coming. canceling oil and gas, lease sales but has not been pretty if you want to develop a domestic supply. over on capitol hill they say this is all just so mind-boggling. head spinning. g.o.p. lawmakers say it is time stop the madness. it s been 20 months of misery and vexation, and ho homer simpn goes to washington. pick your issue.
prices? he has done nothing. we went through earlier the list of things he has not done. the strategic petroleum gambit is not reducing the price of oil although he is taking credit for it. all it is doing is making americans pay more for gas and oil later as he has to replenish it. we need the strategic petroleum reserve for actual emergencies, not just reelecting democrats. to get back to this point, there have been no offshore lease sales, right? since he has been an office for oil? no offshore leases at all? he has completely shut down leasing. they have been in court about this. they have not gotten it straight yet. they are not encouraging any sort of drilling despite the fact that they got joe manchin to agree to that inflation reduction act with the promise of more oil drilling. that is not happening. steve, great to see you.
yeah, he s done nothing. e we went through earlier the list of things he s not done and the strategic petroleum gambit that s notuc reducing the price of oiing thl although he s taking credit fori it. all it s doing is going to makse americans pay more for gas, for oil later as he has tohas to replenish. we need that strategic petroleum reserve for actual emergencies. we nnot just reelecting democrae le and jusctint to get back ts point, there have been no offshore lease sales, right, since he he s been in office for for oil, no offshore leases at all. he s he he has completely shut down leasing. they ve been in court aboutt abt this. t gott they have not gotten it straight yet, but they are notni encouraging any sort of drilling despite the fact that they got joe manchin to agreeret to that inflation reduction act with the promise of more oil iol drillingdrilling. but that s not happening now, lucy, and the football on that, steve , great to see.k.
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Here’s a roundup of the latest E&P headlines including a new Algerian project going onstream, a commercial gas find offshore Israel and regulatory updates from Australia, the U.S. and Norway from the past week in the upstream oil and gas industry.