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Biden just said oil and gas companies are making profits with no new investments

Posted on 6/10/22 at 1:18 pm
Posted by DaBike
Member since Jan 2008
10479 posts
Posted on 6/10/22 at 1:18 pm
This administration lies and lies and lies. Oil and gas companies are investing 100s of millions in development. Some are even investing 100s of millions in carbon capture and other green initiatives.

You can’t believe anything this administration says. They will tell any lie to shift blame and make others the villain. It’s there approaches to everything. Someone has to be a victim, a hero and a villain. It’s how they continue to divide the country.
Posted by teke184
Zachary, LA
Member since Jan 2007
103434 posts
Posted on 6/10/22 at 1:20 pm to
OG isn’t putting money into new wells due to a combination of the leases they have being shite and the belief that this administration would frick them and cost them a ton of money if they did so.

Their best option is waiting out Biden until a new administration takes over.
Posted by Revelator
Member since Nov 2008
62057 posts
Posted on 6/10/22 at 1:20 pm to
quote:

Biden just said oil and gas companies are making profits with no new investments


Why would oil companies make huge investments in future endeavors while Biden is in office trying to kill the industry?
Posted by TigerFanatic99
South Bend, Indiana
Member since Jan 2007
35544 posts
Posted on 6/10/22 at 1:21 pm to
Apparently Exxon doesn't pay taxes either.
Posted by teke184
Zachary, LA
Member since Jan 2007
103434 posts
Posted on 6/10/22 at 1:21 pm to
“Oh, that’s different.”
Posted by GeauxTigerTM
Member since Sep 2006
30596 posts
Posted on 6/10/22 at 1:22 pm to
quote:

This administration lies and lies and lies.


We used to have this system in place where the national press, being protected by the First Amendment, would hold politicians accountable for lying to the American people and because of that outright lying was not done real often because there would be a price to pay for it when the press explained the lie to the people.

But since Legacy Media functions as the propaganda arm of the American Left, this obstacle is no longer there. Not only can Leftist politicians bold face lie, but they know that Legacy Media will echo the lie, and squelch any attempts by alternative media to get at the truth.
Posted by Townedrunkard
Member since Jan 2019
14590 posts
Posted on 6/10/22 at 1:29 pm to
quote:

Why would oil companies make huge investments in future endeavors while Biden is in office trying to kill the industry?


This mofo went on the record saying he wants to kill oil and gas in the debates and then wonders why they not investing more in oil and gas with their leases. What a complete fricking moron.
This post was edited on 6/10/22 at 1:30 pm
Posted by minister of truth
Somewhere new for 6-12 months
Member since May 2022
1884 posts
Posted on 6/10/22 at 1:29 pm to
duckspeak
Posted by NOLAGT
Over there
Member since Dec 2012
13971 posts
Posted on 6/10/22 at 1:46 pm to
quote:

Apparently Exxon doesn't pay taxes either.



And God is rich bitch (in my best Dave Chapel voice)
This post was edited on 6/10/22 at 1:52 pm
Posted by FortyCreek
Member since Mar 2016
80 posts
Posted on 6/10/22 at 2:01 pm to
Part of the nature of an authoritarian regime is that it must lie to conceal its failures. To admit failure is to admit weakness, and they cannot do that and still remain in power. This is why they blame anyone but themselves for every fricking thing they do.
Posted by DaBike
Member since Jan 2008
10479 posts
Posted on 6/10/22 at 3:10 pm to
quote:

OG isn’t putting money into new wells due to a combination of the leases they have being shite and the belief that this administration would frick them and cost them a ton of money if they did so.


The rig count is back to pre COVID levels. Those rigs are drilling new wells. What is different is that number would have been a lot higher with $100 plus per barrel oil. Companies are behaving differently because the not trusting the administration and the expectation from investors to be cash flow positive and not just drill to drill.
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