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I'm a Republican that wants to vote for Trump but.........
Posted on 4/5/23 at 8:14 am
Posted on 4/5/23 at 8:14 am
In terms of the oil field, someone convince me.
during trumps term, it was the worst downturn in the oilfield's history. a ton of companies filed bankruptcy and some no longer exist because of it.
today....we are busier than we've ever been.
during trumps term, it was the worst downturn in the oilfield's history. a ton of companies filed bankruptcy and some no longer exist because of it.
today....we are busier than we've ever been.
24
Posted on 4/5/23 at 8:15 am to oldcharlie8
That boom will only last for so long. Once the dollar has no value, we are all screwed. I guess enjoy your money now, because there won’t be a country later. Your kids and grandkids are screwed, but enjoy the boom now.
Posted on 4/5/23 at 8:16 am to oldcharlie8
You have to make the decision based on more than your specific situation. Democrats historically are good for commodities
Posted on 4/5/23 at 8:18 am to oldcharlie8
quote:
during trumps term, it was the worst downturn in the oilfield's history. a ton of companies filed bankruptcy and some no longer exist because of it.
Hmmm I wonder what fricking what happened during Trump's term that could have had an impact on that
Posted on 4/5/23 at 8:20 am to oldcharlie8
Politicians are generally given too much credit and too much blame for the cyclical nature of the oilfield.
Vote for who you want to, but don’t tie it solely on the state of the oilfield.
Vote for who you want to, but don’t tie it solely on the state of the oilfield.
This post was edited on 4/5/23 at 8:26 am
Posted on 4/5/23 at 8:22 am to oldcharlie8
quote:
during trumps term, it was the worst downturn in the oilfield's history.
Due to the man made wu flu. I have been in the oil and gas industry for almost 2 decades. Trump is your guy. The left wants to shut us down.
Posted on 4/5/23 at 8:24 am to oldcharlie8
Yeah Dems love oil and fossil fuels. Huge proponents of the stuff.
Posted on 4/5/23 at 8:24 am to oldcharlie8
If you don't see the dichotomy that exists between Trump and all the others by now, I don't know what to tell you.
Posted on 4/5/23 at 8:25 am to oldcharlie8
quote:
it was the worst downturn in the oilfield's history
Seriously?
Gas prices back then allowed for more travel, increased shopping, leisure activities, etc. People now are just trying to keep up with the inflationary prices in their basics
Posted on 4/5/23 at 8:25 am to oldcharlie8
quote:
it was the worst downturn in the oilfield's history
Yet, pre-covid we were a net exporter of oil. Those oil fields must have been producing something then.
Posted on 4/5/23 at 8:32 am to oldcharlie8
quote:
In terms of the oil field, someone convince me.
quote:
today....we are busier than we've ever been.
So you want to vote for the admin that wants to turn California completely electric?
Posted on 4/5/23 at 8:34 am to oldcharlie8
Have you not noticed regime is trying to eliminate oil???
Have you missed that?
Prices are going up because it’s becoming more scarce
Once it’s gone you’re screwed in oil patch
But some can’t see their own future, only their present
Which one are you?
Have you missed that?
Prices are going up because it’s becoming more scarce
Once it’s gone you’re screwed in oil patch
But some can’t see their own future, only their present
Which one are you?
Posted on 4/5/23 at 8:38 am to oldcharlie8
The irony is we O&G baws do well down here in Texas, Louisiana, Oklahoma during Democrat administrations because Democrats put regulatory pressure on the O&G industry which leads to higher energy prices for the rest of the nation.
The problem is, you have to get your permits in hand under a friendly administration because an unfriendly administration like the Biden's issue O&G permits that are usually unprofitable. Once you have permits that are profitable under a friendly administration then you can hope to get an unfriendly administration in to block competition and increase your profits during an unfriendly administration as they raise energy prices through foreign and regulatory pressure to pursue green energy.
Another issue is friendly administrations like Trump will pursue policies with oil rich nations to produce more oil making it difficult for domestic production. It's great policy for 90% of the nation but bad policy specifically for domestic O&G production because of cheap energy policies.
With that said I work in O&G but in midstream. Midstream is not necessarily effected by price swings as much as upstream and downstream. Midstream just takes a percentage of the volume and/or mass of energy that passes from upstream to downstream. As long a people demand energy midstream will roll along.
The economic ups and down in midstream are low and shallow. Whereas the economic ups and downs especially for upstream are extreme. The majors like XOM and CVX hedge themselves between upstream and downstream. When they are not making much money upstream (E&P) they are usually see the highest margins downstream (refining). When the oil prices are high they are raking it in on the E&P side and the margins are a lot tighter on the refining side.
The problem is, you have to get your permits in hand under a friendly administration because an unfriendly administration like the Biden's issue O&G permits that are usually unprofitable. Once you have permits that are profitable under a friendly administration then you can hope to get an unfriendly administration in to block competition and increase your profits during an unfriendly administration as they raise energy prices through foreign and regulatory pressure to pursue green energy.
Another issue is friendly administrations like Trump will pursue policies with oil rich nations to produce more oil making it difficult for domestic production. It's great policy for 90% of the nation but bad policy specifically for domestic O&G production because of cheap energy policies.
With that said I work in O&G but in midstream. Midstream is not necessarily effected by price swings as much as upstream and downstream. Midstream just takes a percentage of the volume and/or mass of energy that passes from upstream to downstream. As long a people demand energy midstream will roll along.
The economic ups and down in midstream are low and shallow. Whereas the economic ups and downs especially for upstream are extreme. The majors like XOM and CVX hedge themselves between upstream and downstream. When they are not making much money upstream (E&P) they are usually see the highest margins downstream (refining). When the oil prices are high they are raking it in on the E&P side and the margins are a lot tighter on the refining side.
Posted on 4/5/23 at 8:38 am to oldcharlie8
You are a fricking idiot….worst downturn may have something to do with Covid perhaps?
Jesus, embarrassing to have you apart of the oilfield and you can’t recognize that.
Jesus, embarrassing to have you apart of the oilfield and you can’t recognize that.
Posted on 4/5/23 at 8:43 am to oldcharlie8
You want to vote for someone who wants to end your job? Drilling and prices go up and down, but if you give Biden et al power, you will be out of work and dreaming about the good old days under Trump.
Posted on 4/5/23 at 8:45 am to oldcharlie8
quote:
someone convince me.
60% of the men in my close and extended family are either field, pipeline or refinery workers.
100% of them voted for Trump and plan to do so again.
These guys have been plugged into the industry long term and understand the ebbs and flows of the petro dollar.
Typically the industry has been doing better (monetarily) during Democrat reign because dims want to basically sanction the ONG industry to try and hurt them. All this actually accomplishes is to cause oil/natural gas companies to temporarily halt future investments. When you're stockpiling your profits while waiting for a more friendly administration to take over as opposed to investing every red penny you possibly can into the future of your industry, it's easy to look at the profit margins and go "oh damn, we're killing it!" Even during the "bad times" for the industry, mt family are still making really good money. When times are "good", their employers are investing the profits into new ventures through exploratory drilling and other more modern methods.
Just look at it as dim policy forcing ONG industry leaders to "streamline", if you will, instead of broadening their ventures. They'll widen their scope once a pro-petroleum leader is upon the throne again. One big reason for the current success of the industry was Biden's unprecedented and deliberate shrinking of the SPR.
Both parties try to use the industry to their benefit. Only one party has outright claimed that they want to completely destroy the industry. If that alone isn't enough to give you reason to vote for Trump, then vote for Biden and the eventual end of fossil fuels.
Posted on 4/5/23 at 8:45 am to oldcharlie8
Anyone who works in oil & gas industry and does not vote for Trump is an IDIOT!
Posted on 4/5/23 at 8:52 am to oldcharlie8
The left are going all in on electric. That should be the only convincing an oilfield person needs.
Posted on 4/5/23 at 8:58 am to oldcharlie8
quote:
In terms of the oil field, someone convince me. during trumps term, it was the worst downturn in the oilfield's history. a ton of companies filed bankruptcy and some no longer exist because of it. today....we are busier than we've ever been.
It was because of Trump policies that the oil industry was decimated. He bragged in his speech last night that he achieved energy independence and Biden somehow let it disappear while the opposite is actually true.
At some point people have to realize the man just makes up stories.
But to think this boom won’t have a bust directly contradicts conventional wisdom. IMO gas prices have to propped up high enough to protect US companies from cheap oil flooding the market. Trump was unwilling to do that.
Posted on 4/5/23 at 9:03 am to oldcharlie8
quote:
I'm a Republican
BS. you've always defended democrats here in our past run-ins.
you are fooling nobody. liar.
obama fricked me when he was in and so has biden so far with his GREEN NEW DEAL BS. funny my worst times were under YOUR beloved democrats in O&G.
quote:
during trumps term
we were blowing and going. not sure WTF you were doing. do you have any clue what de-regulation does? DO you know he was the first to get ANWR open? before your boy biden closed it? Your boy biden and obama also shutdown keystone XL.
quote:
we are busier than we've ever been.
riiiiiiiiiiiight. complete and utter BS. just because you may be working right now like me on overseas projects does mean this is this aboom! LOL. delusional. your boy biden wants fossil fuels gone. and you vote for this shite.
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