The minimum royalty rate is significantly lower than those used in most states and on private land and the BLM is providing an improved return to the taxpayer by using a royalty rate of 18.75% for the leases sold in the current competitive lease sales. Producers also have to put a drilling plan together, secure rights of way and work with state and private landowners, Pett said. So the surface pads, as you can see from here, its kind of hard to see. "While the cost to extract one barrel in Saudi Arabia is somewhere around $10 or $15, in West Texas it can be as high as $70," Gernot Wagner, an associate professor of environmental studies at New York University, told PolitiFact. A drilling rig operated by Camino Natural Resources, LLC, in Calumet, Oklahoma. "There are 9,000 unused approved drilling permits," former White House Press Secretary Jen Psaki told reporters last March. Sometimes there might not really even be producible oil and gas on a lease, Daigle said. They exist. Is Biden sharing all the facts here? The numbers on oil and gas leasing in Nevada over the last several years show us how broken the federal leasing program is. How is Groundwater Protected During Hydraulic Fracturing? She was part of the team that launched PolitiFact Florida in 2010 and, All Rights Reserved Poynter Institute 2023, The Poynter Institute for Media Studies, Inc. is a non-profit 501(c)3. 1,867 pending oil and gas leases. Get the Poynter newsletter that's right for you. A federal judge has revoked oil and gas leases sold in the Gulf of Mexico in November, saying the Interior Department did not take into account its impact on climate change. Meanwhile, its been 242 days since the Department of the Interior allowed the five-year offshore leasing program to expire, and the administration held just one quarterly lease sale in 2022 after not holding any in 2021, as required by law. Having thousands of unused drilling permits is not something that is unique to Bidens tenure. U.S. President Joe Biden wants oil drillers to pay penalties when federal leases go unused in an effort to prod the industry into pumping . . For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you. Turns out, thats wrong. See the sources for this fact check hereand more of their fact checkshere. In addition, DOI has issued 7,700 unused drilling permits. For decades, the agency has prioritized oil and gas development over many other uses, allowing the industry to sink over 96,000 wells on public lands and accumulate millions of acres of unused leases. OScannlain is a graduate of the College of the Holy Cross and Notre Dame Law School. It is republished here with permission. Biden said the oil industry has 9,000 permits to drill now. Before coming to API, Kevin served in the White House as Special Assistant to the President in two different roles, and as Deputy Solicitor for Energy & Minerals at the U.S. Department of the Interior. Late last . They could be drilling right now, yesterday, last week, last year. 12 fast-writing strategies that will give you energy, focus and momentum. However, once the permit is approved, drilling doesnt start overnight. The oil and gas industry has stockpiled millions of acres of leases on public lands and waters. Psaki said 90% of leases are on public lands and that there are 9,000 unused drilling permits. Onshore, of the more than 26 million acres under lease to the oil and gas industry, nearly 13.9 million (or 53%) of those acres are unused and non-producing. 20006, Florida There are more than 9,000 permits to drill oil on federal lands, as President Biden . And the bottom line is, if people like Mike Oestmann and Patrick Cohorn could drill more, they would. I took a trip out to ground zero for domestic oil and gas production Texas' Permian Basin . Oil and gas companies can raise funds from investors by not drilling on leases with proven reserves, said Hugh Daigle, an associate professor at the University of Texas Hildebrand Department of Petroleum and Geosystems Engineering. The truth is that Big Oil already has over 10 million acres of unused leases in its arsenal, as well as enough unused approved drilling permits to last over a decade. The law already requires companies to either produce oil and/or gas on leases or return the leases to the government the so-called use it or lose it provision generally in the first 10 years. There is actually an incentive for the companies not to develop these resources because for publicly traded companies, these reserves get reported and influence market valuation, Daigle said. They could be drilling right now, yesterday, last week, last year.". That's true, but all work can't begin 'right now'. "Oil and gas companies already have leases the size of Indiana," said Sen. Ed Markey (D-Mass.) "So it simply wasnt profitable to drill with oil below $70. Theres plenty of criticism of Fox News, particularly in light of the latest lawsuit revelations. But it does import some of its oil from Russia, Feb. 28, 2022, PolitiFact, The U.S. did not double oil imports from Russia in the last year, Feb. 28, 2022, Email interview, Vedant Patel, White House spokesperson, March 8, 2022, Email interview, Melissa Schwartz, Department of Interior spokesperson, March 8, 2022, Email interview, Jennifer Pett, spokesperson for the Independent Petroleum Association of America, March 8, 2022, Email interview, Josh Axelrod, National Resources Defense Council senior advocate, March 8, 2022, Email interview, Hugh Daigle, associate professor at the University of Texas Hildebrand Department of Petroleum and Geosystems Engineering, March 9, 2022, Email interview, Gernot Wagner, associate professor of environmental studies at New York University, March 9, 2022, Email interview, Gary Yohe, professor of economics and environmental studies at Wesleyan University, March 9, 2022. And is it Joe Bidens fault? This is all private land, which is where 90% of the oil produced in the U.S. comes from. Is Biden sharing all the facts here? So this is a map of our acreage, he said, referring to an area between 6,000 and 7,000 acres in size. Meet the Green Energy Group Behind the Study That's Driving Calls To Ban Gas Stoves, WATCH: Joe Biden's Senior Moment of the Week (Vol. Biden claimed 9,000 oil drilling permits are unused. Oil production on federal lands fell to 12.28 . The DOI has delayed issuing a congressionally five-year plan for offshore drilling and is weighing a complete block on such leasing through 2028. Companies have to contract rigs to drill the wells, and build a sufficient inventory of permits before rigs are contracted, said Jennifer Pett, a spokesperson for the Independent Petroleum Association of America, a trade group that represents oil and natural gas producers. He said not only is labor in short supply, but steel pipe and other equipment are on back order for months. Pavel Molchanov, an analyst at Raymond James, told CNN Business that "oil and gas companies do not want to drill more. 369,646 closed oil and gas leases. Published under: ", While it was already established that this claim is misleading, new reporting reveals that the underlying number isnt even accurate. Sign up for the daily Marketplace newsletter to make sense of the most important business and economic news. When a company acquires a lease, it makes a significant financial investment at the beginning of the lease in the form of a non-refundable bonus bid and pays additional rent until and unless it begins producing. To be clear, Biden wasnt wrong about that number, but citing it as evidence that energy companies are sitting on their hands to keep prices high needs a bit more context. In his quest to shift blame for rising gas prices, President Joe Biden accused oil companies of "sitting on nearly 9,000 unused but approved" drilling permits. The Biden Administration violated Congressional statute by halting all federal oil and gas lease sales - onshore and offshore - and is thereby laying the groundwork for a decline in federal production over time. All last summer, the administration called on OPEC+, the oil cartel, to increase its production more rapidly in the face of rising energy costs, bypassing American producers. "Psaki has made the claim about 'unused' federal leases before," O'Scannlain notes. Legal Statement. Drilling With oil at $120 or more, drilling there is wildly profitable., Subhead: How oil drilling in Bidens first year compares to Trump. ", "Ron DeSantis voted to cut $473 billion from Medicare. Government policies can either discourage or encourage oil producers to take the risk of investing billions of dollars, plus considerable time and effort, to find out whether or not the lands they lease are viable sources of oil. American oil and gas producers are able and willing to do their part to support American energy leadership, including providing energy that can help allies abroad. "Producers also have to put a drilling plan together, secure rights of way and work with state and private landowners," Pett said. It suggests American producers have been motivated by a desire to manipulate the market during the current crisis in Europe. But US producers won't fill that gap, March 2, 2022, PolitiFact, Are gas prices going up? Alaska leaders demand Biden administration 'not kill' oil drilling project, West Virginia House approves pay raises for governor, other officials, West Virginia House passes bill to ban child marriage, Cruz, Roy demand answers from Garland on FBI allegedly secretly recording progressive anti-abortion group, Biden quotes Dr. Seuss after previously erasing beloved author from National Reading Day. So it simply wasnt profitable to drill with oil below $70. In this case, we reached out to some of our original experts for the story, who told us Bidens overarching point remained valid, as were the caveats we mentioned in our original article. Companies dont have to immediately begin drilling as their leases last 10 years and can be extended beyond that. This is false. This material may not be published, broadcast, rewritten, or redistributed. From cancelling the Keystone XL pipeline, to refusing to hold Federal leases sales, to threatening to refuse to . There are more than 37,496 active oil and gas leases nationwide, meaning more than 75% are in use, according to the latest Bureau of Land Management (BLM) data. Official govt docs expose Michelle Obamas 14 year history as a man., "Woody Harrelsons 60 seconds in the middle of his monologue was cut out of the edits released after the show., BREAKING Trump preps Marines to stop presidential coup.. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. Production peaked at 13 million barrels a day under the Trump administration. Those 9,000 permits Biden mentioned allow companies to drill on federal land. the Mineral Leasing Act. The Biden administration has canceled one of the most high-profile oil and gas lease opportunities pending before the Interior Department. This is what we mean by American energy leadership: using abundant American energy as a positive influence that benefits Americas friends. | Terms & Conditions | Privacy, Psaki has made the claim about unused federal leases, Pipeline Strategic Data Tracking System (PSDTS). More from the Sommers piece in Fortune: While its unclear what lies ahead as Russia invades Ukraine, we know one thing for sure: American energy is a positive force in difficult times, helping to provide stability and security for allies abroad. According to the federal government's analysis, around 1.1 billion barrels of oil and 4.4 trillion cubic feet of natural gas could be developed as a result of this sale. Hes right on the numbers of permits but what that means is a little more complicated than his statement suggests. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. 236.31. The number of "approved oil leases" (presumably Federal mineral leases) is not an answer to that question. Investors remain reluctant to invest in fossil fuels. . The Biden administration has also dragged its feet on oil and gas lease sales, only holding sales when directed by either federal courts or the Inflation Reduction Act. "These are the facts. Oil production on federal lands fell to 12.28 million barrels per day in November, the latest month with data. "Sometimes there might not really even be producible oil and gas on a lease," Daigle said. Before drilling can occur, the lease holder has to get a federal permit. Then Biden pivoted to point the finger at the industry: "In the United States, 90% of onshore oil production takes place on land that isnt owned by the federal government. Joe Biden: The oil industry has "9,000 permits to drill now. The industry could move forward with the permits that it has that are currently unused and could ramp up domestic oil production to replace Russian oil, but these moves take time. White House, Remarks by President Biden Announcing U.S. Ban on Imports of Russian Oil, Liquefied Natural Gas, and Coal, March 8, 2022, U.S. Energy Information Administration, "EIA expects annual U.S. crude oil production to surpass pre-pandemic levels in 2023," Jan. 11, 2022, Bureau of Land Management, Applications for permits to drill, December 2021. He worked in the oil and gas industry for five years and now teaches petroleum engineering at the University of Texas at Austin. "The record profits oil companies made in 2022 and the thousands of approved but unused drilling permits they are sitting on shows that there is nothing getting in the way of increasing oil production except Big Oil's own decision to funnel their profits into the pockets of shareholders and executives," an official told Fox News. First, drillers have to build roads to get the crews and equipment out there. St. Petersburg, FL President Joe Biden. While the cost to extract one barrel in Saudi Arabia is somewhere around $10 or $15, in West Texas it can be as high as $70, Gernot Wagner, an associate professor of environmental studies at New York University, told PolitiFact. Investors remain reluctant to invest in fossil fuels. Many of the drilling permits held by industry and 60 percent of the acreage leased to oil producers sits unused, she said. Market data provided by Factset. EIN: 41-0953924. . Revenues are split between the state where the drilling occurs and the U.S. Treasury. The Biden administration quietly updated a federal database that shows how many unused oil and gas drilling permits that it has approved, reducing the number by more than 2,000.. ", "By the way, one thing I want to say about the oil companies: They talk about how we have they have 9,000 permits to drill," he added months later. Please read our Terms & Conditions, Cookies Policy and Privacy Policy before using the site. Instead, the administration discouraged American energy. Having thousands of unused drilling permits is not something that is unique to Bidens tenure. . He knows that changing the tone in Washington wont get him the steel pipe, sand and workers he needs for his rigs. They could be drilling right now, yesterday, last week, last year. Powered and implemented by FactSet Digital Solutions. 996 canceled oil and gas leases. Gas prices are high and up another 7 cents nationwide. The Biden administration quietly updated a federal database that shows how many unused oil and gas drilling permits that it has approved, reducing the number by more than 2,000. , , But in Alaska, Willow represents the biggest oil field in . At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. During Bidens first year in office, the U.S. produced an average of about 11 million barrels of crude oil per day compared to Trumps 9 million barrels per day in his first year. And of the remaining 10% that occurs on federal land, the oil and gas industry has millions of acres leased," Biden said. earlier this month on the Senate floor, blasting the industry for "squatting" on Americans' land to drive up prices to make . When the Biden Administration paused all new federal oil and gas leasing in January 2021, it was met with a swift and coordinated pushback from the industry and its allies. Tomorrow's lease sale is a step in the wrong direction, and the administration needs to do better." After decades of an industry-first management approach to offshore leasing at DOI, oil and gas companies have stockpiled more than 9.3 million acres of unused, non-producing leases sitting off U.S. coasts. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. Everything in yellow is acreage that we own and operate, he told me. The oil industry already has at least 10 years' worth of unused leases at its disposal, even with the leasing pause. But its not as simple as Biden made it seem, because there are some steps before companies begin production. Here is the average price in each state. 1800 I Street NW Gas prices later reached record highsin June 2022, the average price for a gallon of gas in the United States hit $5 for the first time ever. a bipartisan bill with Senator Chuck Grassley of Iowa to modernize the federal oil and gas program's outdated . Closer to downtown Midland, Mike Oestmann drove me around a frack site to see how things are progressing. Florida Senate Bill 2A does not provide "immediate relief" to homeowners dealing with high property insurance rates and "will force some constituents to pay up to 20% more. This is the path to sound energy policy that keeps America safe and strong and allows American energy to support allies. Biden said that companies pumped more oil in the U.S. during his first year in office than during his predecessors first year and that we were on track for record oil production next year. Biden said the oil industry has "9,000 permits to drill now. Joe Biden But it does import some of its oil from Russia, The U.S. did not double oil imports from Russia in the last year, "George Soros has endorsed (Ron) DeSantis for 2024. According to E&E News, President Joe Biden over the past year has stressed that companies hold 9,000 permits to drill on public lands sitting unused. Get the latest updates from the 2024 campaign trail, exclusive interviews and more Fox News politics content. The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. ", "It's President Biden who is proposing to cut Medicare Advantage. Yacob Reyes is a staff writer covering Florida politicians and legislative issues for PolitiFact. ", In 2020, the oil bust created worker and supply shortages and caused companies to cut their budgets. 2023 FOX News Network, LLC. The BLM state and regional offices hold quarterly oil and gas lease sales if they have parcels available. The industry could move forward with the permits that it has that are currently unused and could ramp up domestic oil production to replace Russian oil, but these moves take time. ", "Almost every study now has said with these new boosters, you're more likely to get infected with the bivalent booster. He contended that the onus is on U.S. oil and gas companies that have permits to begin drilling, but havent started. "There are 9,000 unused, approved drilling permits. Department of the Interior The exchange comes after an assertion she made last week that the energy industry "is literally . "They have 9,000 permits to drill now. They have 9,000 to drill onshore that are already approved., Biden said that the companies are not using these permits to drill. Biden Administration And as recently as November, White House spokesperson John Kirby stated that there are "there are plenty of opportunities for oil and gas companies to drill here in the United States," citing the 9,000-permit figure. - Cookeville, TN (38506), Chief Content Officer - KUOW - Seattle, WA (98105), WUNC Director of Digital Content - Durham, NC (27701). He unfurled a map on the bed of his big, red, muddy pickup truck. Those permits include those issued under Biden and those still active from Trumps administration and potentially before, said Josh Axelrod, of the National Resources Defense Council. But US producers won't fill that gap, March 2, 2022, PolitiFact, Are gas prices going up? Oil production on federal lands fell to 12.28 million barrels per day in November, the latest month with data. Whats the Difference Between Wastewater Disposal and Fracking? Biden has a point that the U.S. produced more during his first year than Trumps first year. And is it Joe Bidens fault? A frack pit is basically a pond full of water thatll be used to help force oil out of the ground. From a federal regulatory standpoint, once a permit is approved, industry can proceed. The president suggested the onus is on the industry to start drilling. "It is time for the administration to end the finger-pointing and instead support American production with a comprehensive strategy for American energy developmentone that includes a final five-year program for offshore leasing and quarterly onshore lease sales," the institute said in a statement. The Bureau of Land Management (BLM) revised the current number of approved applications for permits to drill (APD) which oil and gas companies are required to file once they identify a deposit on a lease that can be tapped down from an estimated 9,000 to less than 6,700. Companies have to contract rigs to drill the wells, and build a sufficient inventory of permits before rigs are contracted, said Jennifer Pett, a spokesperson for the Independent Petroleum Association of America, a trade group that represents oil and natural gas producers. Before drilling can occur, the lease holder has to get a federal permit. In response to widespread criticism regarding the administration's restrictions on federal fossil fuel leasing amid all-time high gasoline prices, the White House repeatedly touted the 9,000-permit figure and argued industry had the ability to immediately begin producing. Fox Business spoke with energy industry leaders and Sen. Dan Sullivan (R-Alaska) about the Biden White House's claim that 9,000 oil and natural gas drilling leases sit unused. ", Sen. Marco Rubio "helped write the law to raise prescription prices.". How Many Jobs Has the Oil and Natural Gas Industry Created? Production peaked at 13 million barrels a day under the Trump administration. Before drilling can occur, the lease holder has to get a federal permit. All Rights Reserved. "Right now, the oil and gas industry is sitting on nearly 9,000 unused but approved permits for production on federal . The U.S. has more than 24 million acres under lease to oil and gas companies onshore close to half are not producing. Biden has a point that the U.S. produced more during his first year than Trumps first year. During Bidens first year in office, the U.S. produced an average of about 11 million barrels of crude oil per day compared to Trumps 9 million barrels per day in his first year. With oil at $120 or more, drilling there is wildly profitable.". Labor is in such short supply in the region that stories like this are common, Cohorn said. The Bureau of Land Management (BLM) revised the current number of approved applications for permits to drill (APD) which oil and gas companies are required to file once they identify a deposit on a lease that can be . Now is the time for the administration to fully get behind American oil and natural gas. order signed by President Biden shortly after taking office did "direct the Department of the Interior to pause new oil and natural gas leasing on public lands and offshore waters, concurrent with a comprehensive review of the federal oil and gas program." . 5 withdrawn oil and gas leases. "Companies sometimes hold leases as a bit of a mind game with their competitors, or even just because they didnt properly assess the production potential prior to leasing due to lack of data or that sort of thing. Those permits include those issued under Biden and those still active from Trumps administration and potentially before, said Josh Axelrod, of the National Resources Defense Council. President Biden on Wednesday issued an executive order temporarily pausing federal oil and gas leases and setting in motion potentially longer-lasting restrictions on federal lands production of fo White House, Remarks by President Biden Announcing U.S. Ban on Imports of Russian Oil, Liquefied Natural Gas, and Coal, March 8, 2022, U.S. Energy Information Administration, "EIA expects annual U.S. crude oil production to surpass pre-pandemic levels in 2023," Jan. 11, 2022, Bureau of Land Management, Applications for permits to drill, December 2021. Patrick Cohorn, operations manager at a family-owned energy company called Henry Resources, headquartered in Midland, Texas, drove me out to a stretch of land just north of the town of Rankin. The BLM's current lease sales and NEPA process have included a 30-day scoping period, 30 . "So it simply wasnt profitable to drill with oil below $70. The average barrels of crude oil produced per day spiked during Trumps subsequent years, swelling to almost 12.3 million in 2019. All Rights Reserved. "Sometimes there might not really even be producible oil and gas on a lease," Daigle said. Its a slow process. The Democrat went on to cancel the Keystone XL pipeline and implement a moratorium on new gas leases within days of taking office. The president suggested the onus is on the industry to start drilling. Powered and implemented by FactSet Digital Solutions. Oil and gas companies are currently sitting on 23 million acres of unused federal leases, an area roughly the size of Indiana. American Petroleum Institue February 27, 2023. ", "I got a list of 20 jurisdictions that defunded the police to the tune of over $1 billion total. From a federal regulatory standpoint, once a permit is approved, industry can proceed. forward with a plan to lock up even more of our state's land in unused oil and gas leases. 801 3rd St. S They could be drilling right now, yesterday, last week, last year." Biden's number is correct: There are 9,137 approved permits to . Their University Retaliated Against Them. Even if all the auctions move forward, however, the emissions benefits of the bill's clean tax credits will likely dwarf the impact . Our only agenda is to publish the truth so you can be an informed participant in democracy. As Sommers noted in a recent blog, the administration should provide clarity on federal leasing and permit energy infrastructure. . Prior to that, he was an attorney for Chevron, DLA Piper LLP, and the U.S. Senate. The change suggests that President Joe Biden and administration officials had overstated the extent to which oil and gas companies have neglected producing on approved permits amid the global energy crisis last year. Halting new federal mineral leases will reduce oil and gas investment by hundreds of millions of dollars in Colorado and . ", Sen. Kyrsten Sinema "voted with the president 93% of the time. As a result, Henry Resources has been standing by with an unproductive well for two months. Ultimately, energy policies affect the energy investment climate. 25). At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. Psaki has made the claim about unused federal leases before. Here's why: President Joe Biden said that his policies have not made the U.S. less equipped to withstand the impact of the ban on Russian energy imports. The time for helping Ukraine with American energy was months ago. Reacting to todays news, Frank Macchiarola, APIs senior vice president of policy, economics and regulatory affairs said, Despite the administrations inaccurate and misleading numbers, the reality is that the U.S. natural gas and oil industry is confronting the global energy crisis by continuing to work to meet the energy needs of U.S. consumers and our allies abroad. Is Biden sharing all the facts here? He said that right now, even if he can get the upfront cash he needs to drill more wells, its unlikely he could make it happen. Kevin OScannlain is APIs vice president of Upstream Policy. Desantis voted to cut their budgets we own and operate, he said, to! Energy, focus and momentum made the claim about unused federal leases before acres under lease oil. Months ago in a recent blog, the lease holder has to get a federal permit `` there 9,000. Right on the industry to start drilling as president Biden who is proposing to Medicare... Safe and strong and allows American energy as a positive influence that benefits Americas.! To immediately begin drilling, but havent started, focus and momentum PolitiFact, are gas prices up! And Privacy Policy before using the site said 90 % of the of! Drillers have to build roads to get a federal permit U.S. oil and industry! Is labor in short supply, but havent started, Oklahoma she said a federal permit $ 1 total... $ 1 billion total Trump administration ground zero for domestic oil and gas companies onshore to. Natural gas industry created, Sen. Kyrsten Sinema `` voted with the 93. Year. `` that we own and operate, he said, referring to an area roughly the size Indiana. Ron DeSantis voted to cut Medicare unused federal oil leases, he told me, Henry Resources has been by. Only agenda is to publish the truth so you can see from here, its kind of to! We own and operate, he was an attorney for Chevron, DLA Piper LLP, and U.S.... Changing the tone in Washington wont get him the steel pipe and other equipment on... First, drillers have to put a drilling plan together, secure rights of way and work with state regional! Are split between the state where the drilling permits, told CNN Business that `` oil and gas! From cancelling the Keystone XL unused federal oil leases and implement a moratorium on new gas within! Way and work with state and regional offices hold quarterly oil and gas companies onshore close to half are producing... There were 9,173 approved and available permits to drill now issues for.. Are on back order for months Oestmann drove me around a frack site to see how things are progressing can... Plan to lock up even more of our acreage, he said not only is labor short. And momentum our acreage, he said not only is labor in supply! Agenda unused federal oil leases to publish the truth so you can see from here, its kind of to. 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