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Started By
Message
re: CNBC: Fed again approves 0.75-point hike in response to rapid inflation
Posted on 11/2/22 at 5:28 pm to Bronc
Posted on 11/2/22 at 5:28 pm to Bronc
quote:why you trying to come in here and ruin the sky screaming party from their respective teams corner. Have you not realized by now it’s not about objectivity, especially if it interrupts a good finger pointing battle.
It's just not the clean partisan causes/effects people are seeking.
2
Posted on 11/2/22 at 5:29 pm to Bronc
quote:
Remind me who was president in 2020 and started sending out checks and committed to rent moratoriums? Here, let me help you lol
Democratic congress was pushing for that you fricking moron. Trump was saying we need to get back to work. The democrats were saying they would impeach trump if he didn’t provide relief and they were basically buying votes by saying if you elect us we will keep passing stimulus bills.
God damn I can’t believe there are people in this country that think the current administration is doing a good job or even not doing anything to worsen the situation. You truly have to be a brainwashed lemming to believe that.
Posted on 11/2/22 at 5:30 pm to SuperSaint
quote:
Have you not realized by now it’s not about objectivity
We can be as objective as you want, but y’all usually run from factual arguments.
Posted on 11/2/22 at 5:31 pm to hubertcumberdale
quote:
The US is the current leading producer of crude oil, in the world.
This statistic is irrelevant. What is relevant is discussing what we know impacts domestic energy prices. Those things have all been brought up in this thread, but you don't want to have a discussion about them because you don't like the reality.
Another question for you...we all know that Biden said he was going to shut down the fossil fuel industry in our country. How do you feel about him putting in a bunch of executive orders to start to do that, and then going to our enemies (Saudi Arabia, Venezuela, etc) hat in hand begging them for more of their dirty oil?
I'd actually respect the fricking coot more if he said I'm shutting down fossil fuels and and it's going to be awful for everyone, but this is what you all within my party wanted, so we're going to really do it. But no, he's trying to get as much oil as we need, just not from US businesses...knowing full well the oil from those countries is worse for the environment (both because of how it's extracted and the need to then transport it). It's fricking mind boggling.
This post was edited on 11/2/22 at 5:32 pm
Posted on 11/2/22 at 5:33 pm to Bronc
quote:
Again, not sure you would be able to find sufficient supporting evidence to back this argument up
You want sufficient supporting evidence to prove that printing money causes inflation?
Posted on 11/2/22 at 5:33 pm to SEC. 593
quote:
Isn't US oil production basically at the same level it was prior to Covid?
peak production was right at the start of COVID at 13 mmbbl/d and is currently at 12 mmbbl/d. we are currently at late 2018/early 2019 production levels
Posted on 11/2/22 at 5:34 pm to hubertcumberdale
quote:
production is trending up
Production dropped dramatically during COVID, The Potato in chief said they were going to kill big oil, and it was sluggish in picking up to meet demand.
quote:
Biden could say to the industry: “‘I need your help,'” Ebell said. But so far, it’s been crickets, according to oil executives who’ve been willing to speak out.
Just last week, CEO Rick Muncrief of Devon Energy — a large driller worth around $40 billion — told Bloomberg that he’d be happy to talk to US officials about upping production. But there’s been no call. “I’m a little mystified that there hasn’t been some dialog,” he said. “It’s not been that long ago that we were asked to drill less, not more,” he said. “They need to be talking about what is it they would really like U.S. producers to do.”
That’s the kind of inaction that’s keeping prices high — up more than 40% since Russia invaded Ukraine and the war has worsened — and up nearly 90% over the past year when looking at the global Brent crude benchmark, which has risen as high as $123 a barrel in recent days when compared to its level of around $63 a year ago.
Its economics, not voodoo.
Posted on 11/2/22 at 5:35 pm to SuperSaint
quote:
why you trying to come in here and ruin the sky screaming party from their respective teams corner. Have you not realized by now it’s not about objectivity, especially if it interrupts a good finger pointing battle.
I didn't even vote for Trump. I am (was) a moderate and voted for the libertarian in 2020, whoever the frick it was. But I've seen more stupidity, incompetence, and illogical American damaging shite than I can handle. I'll be voting straight R ticket this election cycle...so I guess I now am a Republican. Anyone else who was a moderate before with at least two brain cells to rub together likely feels the same way I do.
This post was edited on 11/2/22 at 5:36 pm
Posted on 11/2/22 at 5:37 pm to member12
Time to invest in banks. They are sitting on mountains of cash that they are now lending out at high rates while also keeping their savings rates super low because they don't have to attract new money. Banks are going to be...
making bank
making bank
Posted on 11/2/22 at 5:37 pm to Chucktown_Badger
quote:
I didn't even vote for Trump. I am (was) a moderate and voted for the libertarian in 2020
I still wouldn't vote for him, but that doesn't mean biden is worth a damn. He's worse.
Posted on 11/2/22 at 5:38 pm to hubertcumberdale
The price of oil has a lot to do with speculation and futures contracts. If you think the price of oil will be going up in the future then speculators will drive the price up. When opec cuts production and the price goes up in a week you think that’s because there was an actual shortage of oil?
So when the president comes in with a stated policy of “ending fossil fuels, Jack”, making it harder to get leases for land, and ending pipeline deals in day 1 what type of message do you think that sends to the market and speculators?
This isn’t hard to figure out
So when the president comes in with a stated policy of “ending fossil fuels, Jack”, making it harder to get leases for land, and ending pipeline deals in day 1 what type of message do you think that sends to the market and speculators?
This isn’t hard to figure out
Posted on 11/2/22 at 5:39 pm to Chucktown_Badger
quote:
Another question for you...we all know that Biden said he was going to shut down the fossil fuel industry in our country. How do you feel about him putting in a bunch of executive orders to start to do that, and then going to our enemies (Saudi Arabia, Venezuela, etc) hat in hand begging them for more of their dirty oil?
Do you understand oil production is currently increasing and has been? Do you want them to go faster? Do you understand economics are involved in producing oil and private producers cant just flip a switch to increase production? How much faster do you think they should be increasing production?
Posted on 11/2/22 at 5:39 pm to RogerTheShrubber
quote:
quote:
Biden could say to the industry: “‘I need your help,'” Ebell said. But so far, it’s been crickets, according to oil executives who’ve been willing to speak out.
Just last week, CEO Rick Muncrief of Devon Energy — a large driller worth around $40 billion — told Bloomberg that he’d be happy to talk to US officials about upping production. But there’s been no call. “I’m a little mystified that there hasn’t been some dialog,” he said. “It’s not been that long ago that we were asked to drill less, not more,” he said. “They need to be talking about what is it they would really like U.S. producers to do.”
That’s the kind of inaction that’s keeping prices high — up more than 40% since Russia invaded Ukraine and the war has worsened — and up nearly 90% over the past year when looking at the global Brent crude benchmark, which has risen as high as $123 a barrel in recent days when compared to its level of around $63 a year ago.
Its economics, not voodoo.
Bingo...he's trying to find a bandaid by going to our enemies in the short term to get through this self-induced crisis, and once that's over it'll be back to shutting fossil fuels down. Think about it, how would his radical base react if he said, "we need to get our domestic production up...we're restarting keystone, investing in two refineries, opening ANWAR etc"? It'd be the end for him.
Posted on 11/2/22 at 5:40 pm to RogerTheShrubber
quote:
Production dropped dramatically during COVID, The Potato in chief said they were going to kill big oil, and it was sluggish in picking up to meet demand.
What should have been the slope of production increase with respect to time?
Posted on 11/2/22 at 5:42 pm to Ghost of Colby
It's more of a reminder of how indoctrinated a lot of you frickers are.
Posted on 11/2/22 at 5:42 pm to hubertcumberdale
“Joe Biden has nothing to do with high gas prices” - Hubert Cumberdale
you sound like a Hubert quote:
What should have been the slope of production increase with respect to time?
Hubert, What’s the slope of the graph above before and after Joe Biden became president?
I guess it’s all a coincidence
This post was edited on 11/2/22 at 5:43 pm
Posted on 11/2/22 at 5:42 pm to hubertcumberdale
quote:
Do you understand oil production is currently increasing and has been? Do you want them to go faster?
I know all of these things and you continuing to say them does not change the realities.
quote:
Do you understand economics are involved in producing oil and private producers cant just flip a switch to increase production? How much faster do you think they should be increasing production?
That's funny...you should listen to your president and his press secretary. They'll tell anyone who will listen...9,000 leases! They should be producing more! Never mind that number of leases is down significantly and they're throwing up all sorts of roadblocks in the permitting. And they also know it takes YEARS to go from a lease to having the permitting done, infrastructure built, and all the other shite that needs to happen before a drop of oil is produced. And the fact that a lease does not equal a plot with oil under it. But of course they won't acknowledge that.
shite, they want everyone to think that oil companies control the price of a gallon of gas
This post was edited on 11/2/22 at 5:45 pm
Posted on 11/2/22 at 5:43 pm to WaWaWeeWa
quote:
So when the president comes in with a stated policy of “ending fossil fuels, Jack”, making it harder to get leases for land, and ending pipeline deals in day 1 what type of message do you think that sends to the market and speculators?
This isn’t hard to figure out
Future prices are much lower than spot, so no, actually production (supply) is trending back to pre-pandemic levels, so one would expect prices to return to those levels given 2019 demand
This isnt hard to figure out
This post was edited on 11/2/22 at 5:44 pm
Posted on 11/2/22 at 5:44 pm to hubertcumberdale
quote:
No, actually production (supply) is trending back to pre-pandemic levels, so one would expect prices to return to those levels given 2019 demand
Oh ok so now your argument is based on what you expect to happen in the future? Got it
Posted on 11/2/22 at 5:44 pm to WaWaWeeWa
quote:
“Joe Biden has nothing to do with high gas prices” - Hubert Cumberdale
One key part of he economy is confidence. You lose long term viability threatening an entire industry.
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