This will not have nearly as big an impact on oil production as it might appear.
Most new production is the result of tight (shale) oil drilling.
The major new fields to date have been east of the Rockies, where almost all land is private. That non-involvement of federal land is one of the attractions, but another is simply the geology involved.
The land west of the Rockies is simply much more complex geology, both above and below the surface, due to its more complex geological history tectonically. A lot less of the large horizontal shale beds that are more easily fracked than in the less complex geology of the East and Middle US. Water, a key factor, is also generally a lot less available in the West.
At present there is still a LOT of accessible private land available for drilling east of the Rockies, so it doesn’t seem likely that making federal or western land less available for drilling is going to slow things down much if at all.
It should also be noted that any gas/oil down there isn’t going anywhere. It will still be there in 100 years if we need it.
Not a fan of these proposed regulations. Just trying to keep some perspective on the issue.
yes, well said.
the bakken is primarly own by farmers