Replies to post #6963 on GulfSlope Energy Inc (GSPE)

[spec machine]

Well, we’re coming up on a full moon so it’ll get even loonier

Venezuela can’t fill the gap from the OPEC cuts so with all other variables counted there’s a near certain upswing in crude prices ahead

SPR drained to the lowest level in decades

It all adds to the pressure building to reverse the war on fossil fuels

It’s coming

But when?

Hopefully, the probability of that reversal in policy will spur investment in a deal that includes GSPE

If it does, we’re in for a rocket ride :-)

spec

[smith199]

API Urges Department of the Interior to Support American Energy Security, Economic Strength with 5-Year (2023-2028) Offshore Program.

API’s submitted comments are available here: https://www.api.org/~/media/Files/News/2022/10/06/API-Comments-on-Proposed-Five-Year-Program

WASHINGTON, October 6, 2022 – The American Petroleum Institute (API) today submitted comments urging the Department of the Interior to open offshore acreage to safe and environmentally responsible American energy development. In the comments in response to the 2023-2028 National Outer Continental Shelf Oil and Gas Leasing Proposed Program and Draft Programmatic Environmental Impact Statement, API highlighted the importance of offshore leasing to U.S. economic strength and energy security and called on the Department of the Interior to uphold their statutory responsibility to take current and future energy needs into account by promptly issuing a final program that includes 11 lease sales.

Oil production from federal waters provides approximately 628 million barrels – or more than 15 percent – of total U.S. oil production. On June 30, 2022, as the current 5-year program expired, Interior put the U.S. in the unprecedented position of having a substantial gap between programs for the first time since this process began in the early 1980s. Without a 5-year program in place, no new offshore lease sales can be held outside of the three sales mandated by the Inflation Reduction Act, limiting domestic producers’ ability to meet future energy demand. According to an API poll from earlier this year, 9 in 10 Americans support the U.S. developing its own domestic sources of energy rather than relying on other regions of the world and 84 percent agree that producing natural gas and oil here in the U.S. helps make our country and allies more secure against actions by other countries such as Russia.

“The U.S. is now a global leader in both energy production and emissions reductions, thanks to the innovation and vitality of the U.S. oil and natural gas industry,” said Cole Ramsey, API vice president of upstream policy. “The ability of U.S. producers to provide more oil and natural gas supplies to the world market has also changed geopolitical dynamics for the better, resulting in greater energy security for the U.S. and its allies, in addition to global environmental benefits. Given the current global circumstances, rarely has a strong offshore leasing program been more essential to our energy security.”

In the comments, API expressed concern over the Proposed Program’s option to issue a final program with zero lease sales, which would jeopardize domestic production and weaken American energy security. According to a recent study conducted by API and the National Ocean Industries Association, a two-year lapse in federal offshore leasing could mean nearly 500,000 barrels per day less of production, cost nearly 60,000 American jobs and sacrifice billions in lost state and local revenues by 2040.

“The decisions made regarding future leasing will have short- and long-term implications for our nation’s energy and national security, prospects for job creation, and government revenue generation,” said Ramsey. “It is beyond time for a comprehensive energy policy that includes a robust offshore leasing program that ensures essential energy resources are made available; encourages investment opportunities and accelerates infrastructure development; and strengthens energy security, affordability, and reliability.”

API represents all segments of America’s natural gas and oil industry, which supports more than 11 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Our approximately 600 members produce, process and distribute the majority of the nation’s energy, and participate in API Energy Excellence®, which is accelerating environmental and safety progress by fostering new technologies and transparent reporting. API was formed in 1919 as a standards-setting organization and has developed more than 800 standards to enhance operational and environmental safety, efficiency and sustainability.

[smith199]

Confusing is the word I use to describe the country’s domestic energy policy as it stands today.

And it is evident that the current administration has no intent to change course, therefore we will crash on the rocks at full speed ahead.

This heading will result in the U.S. being grounded on the reef with the bottom ripped out, while all of us try to find a lifeboat before the ship gets broken up by the waves, and sinks to the bottom.

There are not many reasons to pursue a policy with the outcome conferred by this one. But one is coming in to focus. Can you see it now?

And the hipocrisy simply overwhelms any pretense of a serious solution. Venezuelan oil? Really?

Are we willing to punish lower and middle income Americans just to harass the oil companies? I would like to know.

Although we must read between the lines to find the true intent of this energy policy, the truth is evident to anyone willing to look. It is not even that hard to see. I admit, it is a little harder to believe.

More action is needed. But will we have to wait until the majority of the population abandons belief in the rhetoric of renewable energy before we can reverse the war on fossil fuels?

If these energy policies continue, we will be half the country we are now. Half the strength. Half the wealth.

Do we have the resilience and wherewithal to persevere and prevail? I suppose we must. We have no other choice. I speak neither Chinese nor Russian, lol.

The real question is will we have the time? Time may possibly be the commodity we run out of first.

But, right now, I must go howl at the moon. Want to join me?

One if by land, two if by sea. If by air, use all three.




Mrs. Smith