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Remember when this idiot said we couldn't drill our way to lower gas prices?
ramage wrote: Thank you for pointing out that the policies of the Trump administration lowered oil prices.
The suspension of the Keystone XL, which would have helped carry Canadian oil to U.S. refineries on the Gulf coast, means the U.S. will seek more crude oil from areas such as the Middle East rather than Canada. But it doesn’t affect U.S. production, said Stacey Morris, director of research at Alerian, which tracks energy and other investment markets..
A decades-long push to drill for oil in the Alaskan refuge ended in January with a lease sale in which half of the offered leases drew no bids — evidence that oil companies had little interest in drilling there. No current production was affected.
Biden’s Jan. 27 order paused new federal oil drilling leases on public lands or in offshore waters until a review on federal oil and gas leasing policy is done.
That order has no immediate effect on ongoing production either, and many producers have stockpiled permits in anticipation of regulations around activity on federal lands.