Been out for a bit, but noticed that the 2023 data on BLM oil and gas leasing came out today. Biden is keeping it far lower than prior administrations. It's far easier to stop drilling by not leasing than through any kind of action once a lease is issued & a property right created.
Biden also made a killing selling off some of the strategic reserve and then restocking at a lower price. Apparently the treasury had a net $5bn gain on the exchange.
As a tactic it defanged the OPEC cartel and put the Fossil Fuel execs on notice.
What is the interaction between leasing and issuing permits? Once an area is leased do producers still have to apply for permits before poking holes? Is the permitting process straight-forward, i.e. check these boxes and you get a permit, or is their additional opportunity to stop permitting?