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Federal oil & gas leases

With Joe Biden forbidding fracking on new federal oil & gas leases, at first pass, these properties become worthless to the oil & gas industry. But this actually could be a gift to the oil and gas industry.

The leases are for ten years, during which time the oil & gas companies have to do something useful with the land in order to extend the leases. Without fracking, very few of these properties will make economic sense. But Joe Biden is gone as President in 4 years, if not sooner. With ten years on the leases, the lease holder can gamble that a new President, who doesn't ban fracking, will come to office during that time.

Since the leases, being virtually worthless without fracking, will cost almost nothing, oil & gas companies can buy them up as gambles, sort of like lottery tickets. And the leases with greater potential can be drilled as vertical wells in such ways as to allow for future modifications to horizontal fracking wells.

And when clumsy oaf Joe Biden and the Biden family international oil & gas oligarchs are finally pushed out of the way, the federal leasing properties can be properly developed into producing wells. The American public gets shafted, for receiving only pennies on the dollar for these oil & gas leases. The oil & gas companies save money, by gambling that these leases don't become worthless.

Unless Biden's anti-fracking dictate is overturned in court, this scenario will probably happen.

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