INFLATION--FED's cutting rates again...

[Mr. Deez]

Board of Governors, curriculum, Banco de México

Mexico's Central Bank Board (their Federal Reserve) is 60% Female, and consists of the following Members:

Governor:
- Victoria Rodriguez Ceja-- Female (we've seen her photo)
Deputy Governors:
- Irene Espinosa Cantellano -- Female
- Gerardo Esquivel Hernandez -- Male
- Jonathan Heath -- Male
- Galia Borja Gornez -- Female



And if this isn't "diverse" enough for you, perhaps they could find a transvestite in Tijuana or Nuevo Laredo to join their esteemed Board.

But have any of them ever been donkey show performers?

 

[Sangre Naranjada]

Board of Governors, curriculum, Banco de México

Mexico's Central Bank Board (their Federal Reserve) is 60% Female, and consists of the following Members:

Governor:
- Victoria Rodriguez Ceja-- Female (we've seen her photo)
Deputy Governors:
- Irene Espinosa Cantellano -- Female
- Gerardo Esquivel Hernandez -- Male
- Jonathan Heath -- Male
- Galia Borja Gornez -- Female



And if this isn't "diverse" enough for you, perhaps they could find a transvestite in Tijuana or Nuevo Laredo to join their esteemed Board.

That's not diverse. They are all Hispanic. Every single one of them. Some white libs need to become offended about this and protest.

 

[Chop]

That's not diverse. They are all Hispanic. Every single one of them. Some white libs need to become offended about this and protest.

Jonathan Heath might, or might not, be about as Hispanic as Beto O’ Rourke…?

Or maybe he’s a Mexican whose ancestors happen to come from someplace other than Spain—like Carlos Slim (formerly the richest man in the world, who is a Mexican of Lebanese ancestry)? Of course, since it’s an ethnicity, I would think there’s no bloodlines requirement anyway…

The point of it all is that the Mexican Fed seems to be doing a tad better than our Fed.
(and they’re much easier on the eyes )

 

[guy4321]

Get ready for your $100 family night at the movies. Oh wait, I think I may have actually had one of those…

MLB—games are fun in-person, but you’re gonna pay for it.

If horns lose five in a row like last year, tickets will be $10 a pop...

 

[Chop]

Rice is an expensive university to attend, but their football tickets were always really cheap.

 

[Mr. Deez]

We really suck at our jobs, but we're blacker and gayer than ever. That makes it all ok. Link.

 

[Horn6721]

I don't know whether to or or or just at AP

 

[Facing Addiction]

 

[Vol Horn 4 Life]

Get ready for your $100 family night at the movies. Oh wait, I think I may have actually had one of those…

MLB—games are fun in-person, but you’re gonna pay for it.

We're already there for a family of 4. $15 per ticket gets you in the door for $60. Add 4 drinks, two large popcorns and maybe a sweet or two and you're easily at $100. I won't go anymore unless its just with my wife during a matinee with little to no food.

 

[mb227]

We're already there for a family of 4. $15 per ticket gets you in the door for $60. Add 4 drinks, two large popcorns and maybe a sweet or two and you're easily at $100. I won't go anymore unless its just with my wife during a matinee with little to no food.

Local theatre was only five bucks online for a weekend matinee...but yeah, the drinks and popcorn or other concessions are the real money makers.

 

[Chop]

Local theatre was only five bucks online for a weekend matinee...but yeah, the drinks and popcorn or other concessions are the real money makers.

Yep.

I got to know a movie theatre manager. He said they’d often break even, or even lose $, on the movie tickets. But they roll in the dough at the concession stand. The profit margins on popcorn and drinks are obscene. Pushing 90%. Candy is also way up there. It’s like a carnival or circus. The rides, the elephant, or the freak show gets them in the door. But a captive audience at the concession stand with obscene profits is where the $ is made.

Got me thinking. They should sell funnel cakes and Fletcher’s corny dogs at the movie theatre.

 

[Sangre Naranjada]

It’s like a carnival or circus. The rides, the elephant, or the freak show gets them in the door. But a captive audience at the concession stand with obscene profits is where the $ is made.

Bucc-ees business model is the same. Low priced gas, clean bathrooms (and now, sheer reputation and momentum)...That draws the crowd. A crowd who happily spends $5.29 on a bag of Beaver Nuggets that maybe cost a buck to make.

 

[UTChE96]

This WSJ article is behind a pay wall but it illustrates the extreme hostility of the Biden administration towards increasing oil supply. Biden has approved 126,000 acres of federal leases for drilling compared to 7.25 million acres approved by Obama (first 19 months in office). That's less than 2% of what Obama approved! Absolutely insane given the current state of the economy and inflation. I cannot believe the Republicans are not hammering him on this.

Federal Oil Leases Slow to a Trickle Under Biden

WASHINGTON—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.

President Biden’s Interior Department leased 126,228 acres for drilling through Aug. 20, his first 19 months in office, the analysis found. No other president since Richard Nixon in 1969-70 leased out fewer than 4.4 million acres at this stage in his first term.

Harry Truman was the last president to lease out fewer acres—65,658—in 1945-46, when offshore drilling was just beginning and the federal government didn’t yet control the deep-water leases that have made up the largest part of the federal oil-and-gas program in modern times.

 

[Sangre Naranjada]

Does the WSJ article detail the insanely slow and expensive roadblocks the Biden admin throws at any application for drilling? Environmental studies out the *** are just for starters.

 

[UTChE96]

Here is the rest of the article:

WASHINGTON—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.

President Biden’s Interior Department leased 126,228 acres for drilling through Aug. 20, his first 19 months in office, the analysis found. No other president since Richard Nixon in 1969-70 leased out fewer than 4.4 million acres at this stage in his first term.

Harry Truman was the last president to lease out fewer acres—65,658—in 1945-46, when offshore drilling was just beginning and the federal government didn’t yet control the deep-water leases that have made up the largest part of the federal oil-and-gas program in modern times.

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 president said he was going to stop leasing. And he’s been remarkably successful,” said David Bernhardt, an energy lawyer and former Interior secretary in the Trump administration.

The program had already been in a long decline as oil-and-gas companies shied away from offshore drilling and federal lands amid the boom in fracking shale. Under Mr. Biden’s stewardship the decline has quickened, with leasing down 97% from the first 19 months of his predecessor Donald Trump’s term.

The Journal’s analysis, based on Bureau of Land Management and Bureau of Ocean Energy Management data, quantifies the slowdown in onshore and offshore leasing under Mr. Biden. It doesn’t include land leased in Alaska since the late 1990s, little of which fell into the periods analyzed.

The Interior Department, which oversees oil leases, said it issued a record high number of drilling permits for existing leases last year. Department spokeswoman Melissa Schwartz said industry trends have driven most U.S. production to private and state-owned lands, and that of the roughly 35 million acres now leased from the federal government, about 60% isn’t actively producing.

“There is no shortage of opportunity to produce oil from federal lands,” Ms. Schwartz said.

White House spokesman Abdullah Hasan said the administration is “making America a magnet for clean energy manufacturing investment, securing America’s clean energy future, and putting us on track to meet our climate goals” while still producing near-record amounts of oil.

Mr. Biden has said repeatedly that the U.S. needs to transition away from fossil fuels to reduce greenhouse-gas emissions that contribute to climate change.

“No more drilling on federal lands, no more drilling including offshore—no ability for the oil industry to continue to drill—period,” Mr. Biden said when he ran for office.

During his first week in office, Mr. Biden imposed an indefinite moratorium on new leases, and Interior required additional reviews on drilling permits for the next 60 days. Since then, the administration has tried only one offshore sale, which was invalidated by a court in January. It resumed onshore leasing this summer following a June 2021 ruling by a federal judge in Louisiana that the president’s moratorium was unlawful.

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.

Former presidents Jimmy Carter and Ronald Reagan boosted leasing to record highs in the 1970s and early ’80s in response to geopolitical oil crises. Mr. Reagan still holds the record, leasing nearly 48 million acres in his first 19 months, almost three times as much as any other president.

In 2009, the first year under former President Barack Obama, whom Mr. Biden served as vice president, Interior held 35 onshore oil- and gas-lease sales, according to a department release from 2010. In its first year, the Biden administration had none.

“Stepping up domestic production has been a priority of every president from Nixon right up through Obama and of course Trump,” said Daniel Yergin, the vice chairman of S&P Global and a noted oil-industry historian. “Whether Democrats or Republicans, presidents have wanted to embrace the idea of energy independence and production.”

The Inflation Reduction Act, signed into law by Mr. Biden on Aug. 16, requires the Interior Department to offer at least 2 million acres of federal land and 60 million offshore acres to oil and gas producers every year for the next decade. Those requirements must be met for an administration to permit some wind-power and solar-power development.

That still gives the Biden administration or others wiggle room if they want to stymie oil and gas, say lawyers and analysts. One tactic could be offering areas unappealing to the industry, they say. The administration could also simply forgo wind and solar development on federal territory.

The Interior Department said that it is committed to abiding by terms of the Inflation Reduction Act, “including direction regarding the federal oil and gas programs.”

Federal leases account for more than a quarter of all U.S. oil production. Crude production offshore and on federal lands hit a record high in 2021, according to Interior Department data that dates back through 2003.

So far, the drop-off in new leases hasn’t been a factor in the supply issues that helped send gasoline and other energy prices to historic highs earlier this year, since oil typically takes years to reach the market after federal leases are approved, analysts say.

Even so, new leases are needed to maintain supply later, potentially helpful in averting future shortages and price surges, energy industry leaders say.

“The leases are kind of our raw material,” said Stephen Green, who oversees exploration and production for Chevron Corp. in North America. “Chevron or the industry needs a predictable source of raw material.”

Mr. Biden entered office at a tumultuous time in the history of the federal oil-and-gas program, when development faces conflicting pressures from environmentalists and industry.

Environmentalists want Mr. Biden to fulfill his pledge to stop federal oil-and-gas leases to shift the country away from fossil fuels that create greenhouse-gas emissions.

Federal territory “seems to be the last place where we want accelerated oil and gas drilling,” said Andrew Wetzler, the chief program officer at the Natural Resources Defense Council, who commended the administration for its leasing slowdown. “It certainly is a dramatic change and it’s a very welcome one.”

Oil companies say Mr. Biden’s slowdown has gone too far. The sharp rise in energy prices has put pressure on Mr. Biden to take steps to boost oil output and bring oil prices down to tame inflation.

Within weeks of the Ukraine invasion and pump prices soaring to historic highs, the administration said on April 15 that it would restart the onshore leasing program but with a higher royalty rate charged to oil drillers.

After 17 months of no onshore lease sales, it held five June 29-30.

In all, the Interior Department has awarded 203 leases for oil and gas development during Mr. Biden’s first 19 months in office. Former presidents Trump and Obama each approved 10 times as many leases during the same period, the Journal’s analysis shows.

Going back further, the 203 leases under Mr. Biden amount to 3.2% of what presidents from Dwight Eisenhower to Mr. Trump awarded on average in the same span.

For offshore drilling, the Biden administration has yet to complete a sale.

It did hold one, on Nov. 17, offering 80 million acres in the Gulf of Mexico in a sale originally proposed by the Trump administration that would have been the largest offshore sale in U.S. history. It sold 1.7 million acres, but a federal judge invalidated the sale in January, ruling that the administration failed to do a proper environmental analysis.

The Biden administration declined to appeal the decision, letting the sale get canceled.

Write to Timothy Puko at [email protected] and Anthony DeBarros at [email protected]

 

[Sangre Naranjada]

Here is the rest of the article:

Thanks!

 

[mb227]

That article was a subject of discussion on CNBC Squawk Box this AM...they were interviewing Amos Hochstein, who just parroted the party line that there are plenty of leases out there and that the drillers are not clamoring for more access. The CNBC people weren't having it, pointing out that the next lowest total at this point came under Nixon and was something like 4.4M acres leased.

Hmmm...4.4M vs 162K. I know I only went to public school but that seems to be a giant difference. Especially when, as was pointed out, the HairSnifferInChief is releasing 1M bbl per day from the SPR.

It is clear that everyone in the swamp is all in on destroying this nation. But at least CNBC was willing to hold their feet to the fire...as well as some well placed eyerolls at the lies being told by Hochstein...

 

[Horn6721]

As Sangre pointed out the obstacles Demx have erected to drill guarantee it is not feasible to drill.

 

[Horn2RunAgain]

That article was a subject of discussion on CNBC Squawk Box this AM...they were interviewing Amos Hochstein, who just parroted the party line that there are plenty of leases out there and that the drillers are not clamoring for more access. The CNBC people weren't having it, pointing out that the next lowest total at this point came under Nixon and was something like 4.4M acres leased.

Hmmm...4.4M vs 162K. I know I only went to public school but that seems to be a giant difference. Especially when, as was pointed out, the HairSnifferInChief is releasing 1M bbl per day from the SPR.

It is clear that everyone in the swamp is all in on destroying this nation. But at least CNBC was willing to hold their feet to the fire...as well as some well placed eyerolls at the lies being told by Hochstein...

I watch cnbc almost every morning before I leave the house. All but Andrew are straight thinkers.. all the others are really turned off this administration . Started with the inflation is transitory nonsense. After that it's been gloves off.

Best thing on TV, hands down

 

[theiioftx]

They started with the lies you cannot call out specifically like “transitory” to inflation is now back to zero and nobody is walking across the border. Shameful.

 

[theiioftx]

White House new Press Secretary.

 

[UTChE96]

Its truly amazing how bold this administration is when it comes to telling transparent lies to the public.

 

[Horn6721]

UTChe
When there is no accountability or consequence they will keep lying
The amazing part to me is the Demx media. Why They don't care about our country is sad.
It can't all be Trump hate

 

[bystander]

UTChe
When there is no accountability or consequence they will keep lying
The amazing part to me is the Demx media. Why They don't care about our country is sad.
It can't all be Trump hate

The feeling that the media was heavily Liberal and that it affected their reporting definitely preceded Trump. Rush used to say he was equal time and he was saying it when I first started noticing him on the airwaves back in the 90's.

I think they consider Liberalism to be intellectually superior to any other form of political thought and they've become so attached to it as a form of self-image (a superiority complex) that they lie because they consider those who dissent to be ignorant deplorables who are beyond reach. So by any means necessary becomes their tool. It is necessary to get from where we are now to where they want us to be and they have no time for amending the Constitution or for Conservative SCOTUS Jurists to die on a Democratic Presidents watch.

 

[Horn6721]

But can't they see the damage to ordinary people?

 

[Monahorns]

This WSJ article is behind a pay wall but it illustrates the extreme hostility of the Biden administration towards increasing oil supply. Biden has approved 126,000 acres of federal leases for drilling compared to 7.25 million acres approved by Obama (first 19 months in office). That's less than 2% of what Obama approved! Absolutely insane given the current state of the economy and inflation. I cannot believe the Republicans are not hammering him on this.

It's probably Obama orchestrating what is going on now too. This type of logic won't be convincing to anyone on the Left. They won't feel a tad of internal conflict either. They did what they thought they could get a way with back then. They do what they know they can get away with, now.

 

[UTChE96]

It's probably Obama orchestrating what is going on now too. This type of logic won't be convincing to anyone on the Left. They won't feel a tad of internal conflict either. They did what they thought they could get a way with back then. They do what they know they can get away with, now.

I agree this is intentional by the Leftists. It would be more compelling for the moderate voters that are sick of paying $5 per gallon of gasoline. Republicans as usual have done a lousy job of messaging.

 

[Mr. Deez]

The base and representatives of the base are in charge. They like suppressing the supply of oil and gas, because it makes their green projects easier to financially justify. They may understand that the politics of expensive energy is bad, but they love the outcome. They may backpedal when politics demands it, but they won't reverse course.

 

[mb227]

Sounds like Truss is removing fracking limits (as well as engaging in the stupidity known as price caps).

While we know caps will fail miserably, perhaps SlowJoe will pay attention on the fracking issue.

 

[Chop]

Sounds like Truss is removing fracking limits (as well as engaging in the stupidity known as price caps).

While we know caps will fail miserably, perhaps SlowJoe will pay attention on the fracking issue.

Ha!

"Brent" will once again be more than a prep-school boys name...