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Page added on August 20, 2020

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How Might Oil and Gas Fare Under a Biden Admin?

How Might Oil and Gas Fare Under a Biden Admin? thumbnail

Democratic Presidential nominee Joe Biden’s stance on the issue of hydraulic fracturing has been unclear. During a March 15 debate with then-rival U.S. Sen. Bernie Sanders of Vermont, Biden said that there would be “no new fracking” in his administration. In an interview with a Pittsburgh TV station the following month, however, Biden pledged not to “shut down this (natural gas) industry.” His campaign website also states that a Biden administration would ban “new oil and gas permitting on public lands and waters.”

Given the mixed messages Biden and his campaign have presented regarding oil and gas development, Rigzone caught up with an energy industry veteran for his insights on what the Biden camp’s proposals could mean for the industry – and how they might influence voters. Read on for a perspective from Bill Ebanks, Houston-based managing director in the energy practice of global consulting firm Alix Partners.

Rigzone: How might Biden’s stance on hydraulic fracturing resonate with voters, particularly in oil and gas-producing states?

Bill Ebanks: Vice President Biden has communicated what some might say are several conflicting positions over the past year on issues important to the domestic oil and gas industry, including hydraulic fracturing. With the recent release of Biden’s plan for “Climate Change and Environmental Justice,” he appears to be staking out an ambitious proposal to achieve 100-percent clean energy and reach net zero emissions by 2050, among other goals.

While there does not appear to be any specific mention of Biden’s stance on fracing in the document, he does mention several proposed initiatives that would likely impact the oil and gas industry, including:

  • Requiring aggressive methane pollution limits for new and existing oil and gas operations – likely impacting the practice of gas flaring as well as requiring additional monitoring of methane emissions from wells, facilities and pipeline infrastructure
  • Ending subsidies for fossil fuels – for oil and gas, the majority of the subsidies come in the form of tax deductions and incentives on royalty payment relief
  • Eliminating drilling in the Arctic National Wildlife Refuge (ANWR) – an area recently seeing an uptick in exploration activity
  • Banning new oil and gas permitting on public lands and modifying royalties to account for climate costs – potentially a very significant impact on the industry.

While hydraulic fracturing is not a common practice in the offshore area, it is necessary in many of the onshore basins – including on federal lands – to make new oil and gas development economic. By potentially banning new oil and gas permitting on public lands, he will in effect be banning hydraulic fracturing on federal lands since most often that practice is used at the time new wells are drilled.

In terms of popularity with voters, the majority of the federal onshore land producing oil and gas are in two states: Wyoming and Colorado. Voters in Republican-leaning Wyoming may not favor this policy while Democratic-leaning Colorado voters may be more supportive of the proposal. Other areas with onshore oil and gas on federal land may be similarly split along traditional lines, with Alaska and Utah likely leaning against a ban and California supporting it.

Rigzone: Unfavorable commodity prices have already stifled offshore development in recent years, during both the Obama and Trump administrations. What impact do you see Biden’s proposed ban on new permitting on public waters having on the industry?

Ebanks: A potential ban on oil and gas permitting in offshore waters could have a significant negative impact on the domestic oil and gas industry. Federal waters current provide approximately 15 percent of total U.S. oil production and five percent of all natural gas production and are an important contributor to the U.S. economy – with estimates of $3 billion a year going directly to the U.S. government from leasing and royalty payments and $30 billion a year injected into the U.S. economy from the spending associated with drilling and producing oil and gas.

Importantly, federal offshore lands are believed to hold billions of barrels of undiscovered oil and gas which the industry would like to pursue under the right economic environment. An offshore ban would likely not only impact existing offshore areas such as the Gulf of Mexico off the Texas and Louisiana coasts, but extend the moratorium in other prospective areas such as in federal waters off the Florida coast and along the Atlantic coast.

At a time when many oil and gas producers and service companies are struggling financially, a ban on offshore drilling in federal waters could add even further pressure to the industry and could result in many companies moving their activities to explore and produce oil and gas overseas. The U.S. is already one of the most highly regulated countries in the world in terms of emissions and environmental pollution controls. Shifting oil and gas development activity overseas to countries with less developed climate policies could, ironically, service to increase on the climate and environment.

RIGZONE



59 Comments on "How Might Oil and Gas Fare Under a Biden Admin?"

  1. Abraham van Helsing on Thu, 20th Aug 2020 8:40 am 

    More interesting question is how whites would fare under a Biden administration. Here a sneak preview:

    https://www.zerohedge.com/political/duke-prof-proposes-12-trillion-reparations-800k-eligible-black-household

    “Duke Prof Proposes $12 Trillion In Reparations… $800k Per Eligible Black Household”

    To be paid for by whitey. More reason to break up the country.

  2. yous guyes need to get into this panties thing u can be rich and generate passive income on Thu, 20th Aug 2020 8:58 am 

    u need the rite kind of panties to make profit
    sharon stone didnt have crotch panties on but its not ok to have no face panties on

    ask whitey supertard john mccaffe he had face panties on and he was arrested.

    so the differnce is that u need to have the right kind of panties and sell to ur buddies. u makes tons of money i know i did

    https://preview.tinyurl.com/y5myssry

  3. JuanP is a fucking lunatic on Thu, 20th Aug 2020 9:18 am 

    yous guyes need to get into this panties thing u can be rich and generate passive income on Thu, 20th Aug 2020 8:58 am

    u need the rite kind of panties to make profit
    sharon stone didnt have crotch panties on but its not ok to have no face panties on
    ask whitey supertard john mccaffe he had face panties on and he was arrested.
    so the differnce is that u need to have the right kind of panties and sell to ur buddies. u makes tons of money i know i did
    https://preview.tinyurl.com/y5myssry

  4. the board on Thu, 20th Aug 2020 9:20 am 

    Any ideas on getting rid of JuanP?

  5. Cloggie on Thu, 20th Aug 2020 9:47 am 

    I might be able to hack his computer

  6. Penury on Thu, 20th Aug 2020 9:54 am 

    Maybe is we lobby the owners we might get results

  7. Abraham van Helsing on Thu, 20th Aug 2020 10:10 am 

    Haha, Steve Bannon arrested for fraud!

    https://edition.cnn.com/2020/08/20/politics/bannon-build-the-wall-indictment/index.html

    “Steve Bannon, three others charged with fraud in border wall fundraising campaign“

    This idiot tried to organise the European Right, with ghe real quiet purpose to abolish the EU… and failed!

    Lock him up!

    EU populists don’t need Americans tor anything.

  8. JuanP on Thu, 20th Aug 2020 11:31 am 

    If I stop trolling and spamming can I stay

  9. REAL Green on Thu, 20th Aug 2020 11:40 am 

    Everybody no’s JuanP is us Davy.

    Were not foolin anybody.

  10. Duncan Idaho on Thu, 20th Aug 2020 12:07 pm 

    Like Trump in the U.S. and Bolsonaro in Brazil, the Philippine strongman’s utter failure to contain COVID-19 may kneecap his authoritarian ambitions–
    Hint:
    Could the Duterte Regime Be COVID-19’s Next Victim?
    https://zcomm.org/znetarticle/could-the-duterte-regime-be-covid-19s-next-victim-2/

  11. the board on Thu, 20th Aug 2020 1:37 pm 

    JuanP on Thu, 20th Aug 2020 11:40 am

    “Everybody no’s JuanP is us Rik. Were not foolin anybody.”

    This is what I have been telling you stupid. Everyone knows all socks are yours, so why do you play with socks?

  12. the board on Thu, 20th Aug 2020 1:43 pm 

    juanPPee, get down to your Home Depot and gets some plywood. You have a storm coming. FUCK FACE

    Double Trouble: Multiple Tropical Depressions Take Aim At US
    https://www.zerohedge.com/commodities/tropical-depression-13-forms-florida-crosshairs

    https://www.nhc.noaa.gov/storm_graphics/AT13/refresh/AL132020_5day_cone_no_line_and_wind+png/180613_5day_cone_no_line_and_wind.png

  13. More socks from the bored lunatic Davy on Thu, 20th Aug 2020 2:20 pm 

    JuanP is a fucking lunatic on Thu, 20th Aug 2020 9:18 am

    the board on Thu, 20th Aug 2020 1:37 pm

    the board on Thu, 20th Aug 2020 1:43 pm

  14. Duncan Idaho on Thu, 20th Aug 2020 3:07 pm 

    Steve Bannon and fraud?
    He is a Repug—
    Isn’t that a given?

  15. The Board on Thu, 20th Aug 2020 3:28 pm 

    Any ideas on getting rid of davy the bored lunatic?

  16. Duncan Idaho on Thu, 20th Aug 2020 3:36 pm 

    Ex-Republican says the ‘party has devolved into a cesspool of bigotry and mind-numbing conspiracies’
    https://www.alternet.org/2020/08/ex-republican-says-the-party-has-devolved-into-a-cesspool-of-bigotry-and-mind-numbing-conspiracies/
    Lets not put down cesspools– comparing them to repugs is kinda low

  17. the board on Thu, 20th Aug 2020 3:58 pm 

    JuanP on Thu, 20th Aug 2020 3:28 pm

    “Any ideas on getting rid of me the bored lunatic?”

    We are working on it fuck face. You might start by acting like an adult.

  18. JuanP on Thu, 20th Aug 2020 3:59 pm 

    Duncan, alternet is a fake news site. Try again with something more legit

  19. Abraham van Helsing on Thu, 20th Aug 2020 3:59 pm 

    Duncan’s America:

    https://www.infowars.com/new-york-city-is-a-shithole/

    “NEW YORK CITY IS A SHITHOLE“

    Over the past few months, people left NYC in the HUNDREDS OF THOUSANDS.

  20. REAL Green on Thu, 20th Aug 2020 4:47 pm 

    Fuck face is not adult talk Davy.

  21. REAL Green on Thu, 20th Aug 2020 4:51 pm 

    Zerohedge is a fake news site Davy. Alternet is legit.

  22. the board on Thu, 20th Aug 2020 4:54 pm 

    JuanP on Thu, 20th Aug 2020 4:47 pm

    “Fuck face is not adult talk Davy.”

    You are a fuck face juanPPee. Everyone know this.

  23. the board on Thu, 20th Aug 2020 4:55 pm 

    JuanP on Thu, 20th Aug 2020 4:51 pm

    “Zerohedge is a fake news site Davy. Alternet is legit.”

    juanPPee, then why do you post so many Zero Hedge articles? Stupid. Fuck Face.

  24. deport PPee on Thu, 20th Aug 2020 5:29 pm 

    juanPPee does not deserve to live in the US.

  25. Duncan Idaho on Thu, 20th Aug 2020 5:55 pm 

    Bloomberg Isn’t Delivering Promised General Election Spending. He’s Speaking At The DNC Anyway.
    https://www.huffpost.com/entry/bloomberg-isnt-delivering-promised-general-election-spending-hes-speaking-at-the-dnc-anyway_n_5f3e890bc5b609f4f675cb72
    Dims/Repugs sometimes it’s hard to tell.

  26. Davy on Thu, 20th Aug 2020 5:56 pm 

    “Should Snowden And Assange Pardon The US Government?”
    https://www.zerohedge.com/political/should-snowden-and-assange-pardon-us-government

    “Neither Snowden and Assange has done anything wrong – at least not in a moral sense. It is the U.S. government – and specifically the national-security state branch of the federal government – that has engaged in terrible wrongdoing – wrongdoing that Snowden and Assange revealed to the American people and the people of the world. A national-security state is a totalitarian form of governmental structure, one that empowers a government to engage, either secretly or openly, in dark-side, sordid policies and practices, such as torture, assassination, coups, murder, regime-change operations, invasions, bribery, kidnappings, indefinite detention, denial of due process, denial of trial by jury, and denial of speedy trial.”

    “The real question — one that unfortunately will not be discussed in the presidential race — is whether it’s time to end America’s 75-year experiment as a national-security state.”

  27. the board on Thu, 20th Aug 2020 5:58 pm 

    juanPPee, why do you post Zero Hedge articles and then whine about it? Fuck Face

    JuanP on Thu, 20th Aug 2020 5:56 pm

    “Should Snowden And Assange Pardon The US Government?”
    https://www.zerohedge.com/political/should-snowden-and-assange-pardon-us-government

  28. deport PPee on Thu, 20th Aug 2020 5:59 pm 

    juanPPee, please leave the US and go to China or Russia. We hate your guts here in the US. You are a skumbag piece of shit.

  29. Duncan Idaho on Thu, 20th Aug 2020 6:01 pm 

    “There’s no doubt that the arrest of the leaders of the We Build the Wall organization represents a huge embarrassment for the right. Included in those arrested so far is former Donald Trump campaign CEO Steve Bannon, and on the board of the organization are a whole host of key Republican figures ranging from perennial candidate Kris Kobach to mercenary renter Erik Prince.”

  30. Davy on Thu, 20th Aug 2020 6:03 pm 

    JuanP has helped tens of thousands of Americans deport PPee. He is an asset to our country. You are not.

    Get out. Looser.

  31. Davy on Thu, 20th Aug 2020 6:23 pm 

    Sorry for all my socks acting like Fuck-faces everyone. We, I, just cant help ourselves. We have anger mismanagement issues, you might have noticed.

    And, you fucked with the wrong asshole guys.

  32. Duncan Idaho on Thu, 20th Aug 2020 6:24 pm 

    More:
    “If Berman had left and allowed Barr to fill his position with Trump supporter Jay Clayton, a corporate attorney who has never prosecuted a case, at any level, in his life, it’s a very good bet that Steve Bannon and his co-conspirators would not have been arrested on Thursday. That alone seems to explain both Barr’s efforts and Trump’s tweet.”

  33. the board on Thu, 20th Aug 2020 6:31 pm 

    juanPPee, in your dream liar. You have no REAL life. Your life is one big fraud.

    JuanP on Thu, 20th Aug 2020 6:03 pm

    “JuanP has helped tens of thousands of Americans deport PPee. He is an asset to our country. You are not. Get out. Looser.”

  34. the board on Thu, 20th Aug 2020 6:33 pm 

    JuanP on Thu, 20th Aug 2020 6:23 pm

    “Sorry for all my socks acting like Fuck-faces everyone. We, I, just cant help ourselves. We have anger mismanagement issues, you might have noticed. And, you fucked with the wrong asshole guys.”

    juanPPee, I am glad you realize how big of a piece of shit you are. Honest is the first step to recovery of a piece of shit like you. BTW, have you been to Home Depot to get plywood. Fuck Face?

  35. Deport PPee on Thu, 20th Aug 2020 6:35 pm 

    juanPPee, please move to China and be a good communist. That is where you belong not here in the US defrauding Americans.

  36. the Board on Thu, 20th Aug 2020 6:39 pm 

    I am one big fraud juanPPee,

    Victory!!@!!!!!#@!@!

  37. REAL Green on Thu, 20th Aug 2020 6:43 pm 

    Were skwatting on stolen land Davy. We should move back to Europe where we belong. Were an invasive sub-species. The black folk can stay Cus we forced them into bein hear. JuanP is a REAL American. Were a Eurotard.

  38. deport PPee on Thu, 20th Aug 2020 6:50 pm 

    juanPPee, be gone piece of shit. Americans hate a China loving cunt like you

  39. the board on Thu, 20th Aug 2020 6:51 pm 

    JuanP on Thu, 20th Aug 2020 6:39 pm

    “I am one big fraud juanPPee, Victory!!@!!!!!#@!@!”

    You said it right juanPPee!

  40. the board on Thu, 20th Aug 2020 6:53 pm 

    juanPPee, have you got your plywood yet? Big storm is heading your way, Fuck Face.

  41. JuanP on Thu, 20th Aug 2020 7:00 pm 

    How about I ship you a sheet of plywood instead lunatic? If you cut it half, you would finally have roof over your outhouse, and still enough left over to put something of a roof on your cabin as well.

  42. PPee fan club on Thu, 20th Aug 2020 7:21 pm 

    juanPPee, you get on with your nightly stupidity. I will moderate and neuter your crap in the morning. Welcome to hell, cunt face.

  43. PPee fan club on Thu, 20th Aug 2020 7:25 pm 

    We loves us sum big PPee. That’s why were The PPee fan club.

    LOFDAO!!

  44. Duncan Idaho on Thu, 20th Aug 2020 7:39 pm 

    To be fair to Trump, 66.7% of his wives left him, 100% of his casinos have been bankrupted, 100% of his universities and charities were shut down, and over 50% of his other businesses have failed, so WH staff turnover at 43% means he is over-performing by his standards.

    And he has been bankrupt only 6 times–

  45. makati1 on Thu, 20th Aug 2020 7:41 pm 

    Juan, I love you. What other people think does not matter.

  46. Juan on Thu, 20th Aug 2020 7:48 pm 

    Thanks Davy!

    xxx-ooo

  47. Duncan Idaho on Thu, 20th Aug 2020 8:27 pm 

    The ‘We Build The Wall’ Huckster Is Accused of Duping Donors. Turns Out He Planned To Sell Their Data Too.
    https://www.thedailybeast.com/the-we-build-the-wall-huckster-is-accused-of-duping-donors-turns-out-he-planned-to-sell-their-data-too?ref=home?ref=home

    I’m sure the Fat Boy had a cabinet position for him.

  48. Duncan Idaho on Thu, 20th Aug 2020 8:31 pm 

    Florida Politicians give themselves a 250% raise during the COVID 19 pandemic
    https://www.dailykos.com/stories/2020/8/20/1971019/-Florida-Politicians-give-themselves-a-250-raise-during-the-COVID-19-pandemic
    More Fat Boy cabinet possibilities—

  49. Duncan Idaho on Thu, 20th Aug 2020 8:35 pm 

    “I don’t think Trump believes in Q any more than he believed in birtherism. He just sees a valuable scam and knows a bunch of vacuous marks when he sees them. There have always been fringies on the right. Now it is all that’s left of the Republican Party.

    As someone else memorably said, “everything Trump touches dies.” The GOP was very sick for a long time but Trump came along and gleefully pulled the plug.”

  50. Duncan Idaho on Thu, 20th Aug 2020 9:40 pm 

    To be honest, the Fat Boy does have some skills:

    https://pbs.twimg.com/card_img/1296430607556386817/vcHKojqm?format=jpg&name=small

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