The US Interior Department has approved more than 500 drilling permits on federal lands and waters since January, despite the Biden administration's halt to new lease sales. The agency has not said when it might resume leasing, other than canceling any sales through June.
Producer-state senators contend that this pause will turn into a permanent ban. Senator John Hoeven, Republican-North Dakota, made that case on yesterday's Capitol Crude podcast. We took a look at how the leasing review is actually impacting US oil production.
Ash Singh, S&P Global Platts manager of supply and production analytics, shares the latest outlook and gives his prediction for how leasing might resume. He also gets into the current economic climate for US drillers and how capital discipline is playing out in the early stages of pandemic recovery.
As August comes to a close, Washington, DC, is ramping up again with energy issues before the Federal Energy Regulatory Commission.
On the natural gas side, the commission could start answering longstanding questions about how it will evaluate pipelines and LNG facilities in the face of...
President Joe Biden took a strong stance against fossil fuels right away, essentially canceling the long-simmering Keystone XK Pipeline and implementing a moratorium on all new oil and gas lease sales on federal lands and waters.
Since then though, his administration has refused to oppose other...