Wall Street closed sharply lower on Tuesday, driven by weak earnings from ASML, which led to a broad selloff in chipmakers, and a sharp decline in oil prices that pressured energy stocks.
Please explain to me the anti oil policies of this administration, under Biden we have become the world largest oil producer. and you want people to subscribe
Biden imposed a moratorium on new oil and gas leasing on federal lands and waters shortly after taking office. While this was later overturned in court, it created delays and uncertainty for producers.
The administration has also made it more difficult to obtain drilling permits on existing leases, with approval times increasing significantly.
Pipeline Cancellations - On his first day in office, Biden revoked the permit for the Keystone XL pipeline.
Regulatory Changes - The administration has proposed or implemented numerous new regulations affecting oil and gas operations, including:
Stricter methane emissions rules
Higher fees and royalties for drilling on federal lands
More stringent environmental reviews for new projects
Strategic Petroleum Reserve - Biden has drawn down the Strategic Petroleum Reserve to historically low levels in an attempt to lower gas prices, a move that compromises energy security.
Please explain to me the anti oil policies of this administration, under Biden we have become the world largest oil producer. and you want people to subscribe
Sure - I'll give it a go.
Leasing and Permitting Restrictions
Biden imposed a moratorium on new oil and gas leasing on federal lands and waters shortly after taking office. While this was later overturned in court, it created delays and uncertainty for producers.
The administration has also made it more difficult to obtain drilling permits on existing leases, with approval times increasing significantly.
Pipeline Cancellations - On his first day in office, Biden revoked the permit for the Keystone XL pipeline.
Regulatory Changes - The administration has proposed or implemented numerous new regulations affecting oil and gas operations, including:
Stricter methane emissions rules
Higher fees and royalties for drilling on federal lands
More stringent environmental reviews for new projects
Strategic Petroleum Reserve - Biden has drawn down the Strategic Petroleum Reserve to historically low levels in an attempt to lower gas prices, a move that compromises energy security.