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Biden proposals to limit fracking are limited to federal
Posted on: May 4, 2021 at 17:16:39 CT
KC rules MU
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leases. Federal onshore production a small part of the overall US production. See figure 1 in attachment. Federal offshore wells are not typically fracked so those wells would not be impacted by any fracking ban and that's the greater part of production from federal leases in the US. I really doubt that we will see any higher oil prices due to the Biden presidency; some smaller companies with a high percentage of their production from federal leases might be impacted but that's all I would expect.
And note that fracking became what it is today under the democratic Obama administration. That's when US production really started to increase due to application of large multi-stage fracs. It did lower the oil price at the time as it flooded the market with US oil resulting in widespread oil company layoffs during 2015-2016.
https://fas.org/sgp/crs/misc/R46537.pdf
Edited by KC rules at 17:17:53 on 05/04/21
And note that fracking became what it is today under the democratic Obama administration. That's when US production really started to increase due to application of large multi-stage fracs. It did lower the oil price at the time as it flooded the market with US oil resulting in widespread oil company layoffs during 2015-2016.
https://fas.org/sgp/crs/misc/R46537.pdf
Edited by KC rules at 17:17:53 on 05/04/21
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Biden proposals to limit fracking are limited to federal - KC rules MU - 5/4 17:16:39