Federal Judge Stops Unelected Joe's attempt to dismantle the economy.

[reason10]

https://www.foxnews.com/politics/biden-handed-major-legal-defeat-attempt-restrict-oil-gas-drilling-gulf-of-mexico

Biden handed major legal defeat in attempt to restrict oil, gas drilling in Gulf of Mexico

A federal court struck down the Biden administration's last-minute restrictions on an upcoming offshore oil and gas lease sale in a ruling late Thursday evening.

Judge James Cain of the Western District of Louisiana granted a preliminary injunction request from plaintiffs — the State of Louisiana, industry association American Petroleum Institute (API) and oil companies Chevron and Shell — to block the Bureau of Ocean Energy Management's (BOEM) restrictions on Lease Sale 261. The lease sale spanning millions of acres across the Gulf of Mexico is slated for next week.

Cain ruled the federal government must proceed with the lease sale by Sept. 30 under its original conditions. As a result of a July settlement with environmental groups, BOEM removed about six million acres from the sale and imposed various restrictions on oil and gas vessels associated with the leases auctioned to protect the Rice’s whale species found in parts of the Gulf of Mexico.

 

Talking points:

1. This NAZI move would have caused the price of gasoline to go up 50 cents a gallon at the pump, INSTANTLY.

2. This would have been a cruel TAX ON THE POOR.

3. Thank LEGALLY ELECTED PRESIDENT TRUMP for appointing this brilliant jurist who just SAVED THE AMERICAN ECONOMY.

 

[Rebound]

It wouldn’t instantly raise gas prices because it would take years to extract this gas.  They don’t sign a lease and get gasoline flowing to pumps “instantly.”  
 

Where is it you live, since we’ve figured out that you don’t live in Florida? 

[CdnFox]

4 hours ago, Rebound said:

It wouldn’t instantly raise gas prices because it would take years to extract this gas.  They don’t sign a lease and get gasoline flowing to pumps “instantly.”  
 

Where is it you live, since we’ve figured out that you don’t live in Florida? 

Prices today do reflect expected availability tomorrow.  If the saudis announce a reduction in oil production today, gas often rises tomorrow. 

I have no idea how accurate the 50 cent number is but it woudln't surprise me if the effect (whatever it was) was felt pretty quickly or at least a substantial amount of it was.

[Rebound]

11 hours ago, CdnFox said:

Prices today do reflect expected availability tomorrow.  If the saudis announce a reduction in oil production today, gas often rises tomorrow. 

I have no idea how accurate the 50 cent number is but it woudln't surprise me if the effect (whatever it was) was felt pretty quickly or at least a substantial amount of it was.

Right… if you make shlt up and pretend it’s true. Besides the strategic reserve, oil can’t be stored more than about 30 days. Pipelines and refineries and tankers MOVE oil, they don’t store it.  So the availability of oil in a year has no effect on supply and demand today.  

[CdnFox]

3 hours ago, Rebound said:

Right… if you make shlt up and pretend it’s true.

I would never take that from you, it's your entire persona!

Quote

Besides the strategic reserve, oil can’t be stored more than about 30 days. Pipelines and refineries and tankers MOVE oil, they don’t store it.  So the availability of oil in a year has no effect on supply and demand today.  

Well of course it does. This isn't even a debate - go look at what happens to oil prices every time opec announces a cut etc. You're just embarrassing yourself, this is simple to verify common knowledge. Announcements in the change of oil begin to impact prices very quickly, well in advance of the actual supply change. Announcements of increased productivity also tend to lower prices almost immediately even tho it will be time before that oil gets to market.

10 seconds of googling is all it would have taken to prevent you looking  like an !diot.  seriously - do you LIKE looking like a fool?

[Nefarious Banana]

Joe's at it again . .