In short, granting permits from lease sales performed in the last administration is a trailing indicator of.. the last administration's activity.
The more important measure for the Biden administration's energy development policy was how many new lease sales were performed, and how many leases were effectively cancelled or otherwise put in limbo.
"Mixed messages from the administration – like canceling lease sales one minute and touting approved permits to drill the next – create uncertainty within the energy industry, hindering long-term investments and exacerbating challenges for the United States"
https://archive.is/9x1an
"The Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II, according to a Wall Street Journal analysis."
"The Mineral Leasing Act of 1920 requires onshore oil and gas leasing “at least quarterly.” While the Biden administration has been in office for six quarters, it has conducted auctions in just one of them. That happened in late June, after the administration came under increasing pressure to tame soaring gasoline prices at the pump in the wake of Russia’s invasion of Ukraine."
"Mr. Biden pledged to stop drilling on federal lands as a candidate, saying the nation needs to transition to clean energy. He softened his stance as oil prices soared following Russia’s invasion of Ukraine—calling for boosting oil supplies to ease runaway inflation—but he has nonetheless spurned a leasing program that for decades has been a go-to asset for presidents looking to raise U.S. energy production."
The Biden admin upped production over the course of his term, but that increase is only relative to the 2020 drop-off. It only returned to previous levels in late '23. It did very slightly surpass those levels into early '24: 13 MMbbl/d at pre-covid to 13.3. So 50% more permits resulted in a rounding error at its peak.
Much of that increase went to export. On top of that, Biden sold half of the strategic petroleum reserve.
The general point is that you can drill all you want, but sending it overseas doesn't help Americans. The best result is that we buy back gasoline at a margin that's tolerable, but that's not helping either price at the pump or overall energy costs.
There is a partisan disagreement on energy independence.
Overall, maybe. But the local price is certainly sensitive to production costs, depending on the derivative. Like a pipeline is much more efficient than lng in container.
He canceled pipelines and repeatedly refused to extend leases. Just because he "Approved" more, speaks to the business climate and pricing of oil. It'd be better to see how many his administration actively fought against for just the politics... Take the keystone oil pipeline... It was effectively finished and they canceled it... how wasteful.
