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Message
re: Oil price chart: Dec 18 to today..
Posted on 2/19/21 at 9:06 pm to LSUAlum2001
Posted on 2/19/21 at 9:06 pm to LSUAlum2001
Nice cherry pick, go back to May and it was actually negative 35, did Trump cause that astronomical price rise or is oil a globally traded commodity and POTUS has very little effect on the price?
1
Posted on 2/19/21 at 9:12 pm to jcaz
No the jobs will go up where we are buying the oil. The only difference is when we buy oil overseas the politicians can cut themselves in on the deal, they can’t do that in Texas! We are ducking idiots to continue to keep sending our money to Washington!
Posted on 2/19/21 at 9:18 pm to cave canem
quote:
Nice cherry pick, go back to May and it was actually negative 35,
Cherry pick? So we are using anomalies as the norm now?
I bet you also believe GameStop stock is actually worth $500 per share.
Posted on 2/19/21 at 9:25 pm to COAUTiger
We routinely put pressure on Saudi Arabia to increase output to lower oil prices and they comply. We threatened countries with sanctions if they buy oil from Iran. It’s intentional stupidity to say the President cannot influence the price of oil on the international market.
Posted on 2/19/21 at 9:26 pm to COAUTiger
quote:
It does not care who is President of the United States.
quote:
And yes presidents can impact pricing on oil/gas
Posted on 2/19/21 at 10:22 pm to LSUAlum2001
Just simply explain the below in relation to your statement cause just recently the tRumpkins were all in for higher oil prices, now yall are crying for getting what you asked for, it boggles the mind.
quote:
Oil prices skyrocketed on Thursday after President Donald Trump told CNBC Saudis and Russia will ease pressure on oil, ending a price war that has contributed to crude’s massive plunge.
West Texas Intermediate crude futures surged 24.67% to settle at $25.32 per barrel, for its largest single-day percentage gain in history. Given WTI’s 59% decline this year a smaller gain, of course, now accounts for a much larger percentage move. International benchmark Brent crude jumped 17.8%, or $4.40, to trade at $29.14 per barrel.
Trump told CNBC’s Joe Kernen Thursday that he spoke to President Putin yesterday and Saudi Crown Prince Thursday and expects them to announce an oil production cut of 10 million barrels and could be up to 15 million.
The president later tweeted that a production cut would be “great for the oil & gas industry!” His comments came before a meeting with energy industry executives scheduled for Friday.
Posted on 2/19/21 at 11:28 pm to LSUAlum2001
We are lead by a bunch of earth worshiping, self aggrandizing zealots.
Posted on 2/19/21 at 11:34 pm to COAUTiger
quote:
The price of oil is set by international supply and demand. It does not care who is President of the United States.
Well if the President allows us to extract our own oil, massively increasing the global supply of oil, then the POTUS does impact the price of oil.
Posted on 2/20/21 at 5:36 am to COAUTiger
quote:
But US oil production costs more in general and needs a certain price level to use other oil supplies like fracking which costs more to pump.
The energy sector is not like consumer products, fixed costs are a much bigger factor, you cant just look at total cost (in consumer products variable costs make up the majority of the costing with energy its fixed).
Its the reason frackers kept producing even when, using your costing, they were losing money. They were still covering fixed costs (ie they could pay the bank note) so they kept producing.
Its also one of the reasons Trump allowed capital writeoffs in one year, thats a huge incentive to invest in the oil fields.
You are correct that Saudis can produce at a lower cost, and also right they MUST have a higher price to keep their overall economy solvent. If you view it in that regard, their "costs" are actually much higher than producers in other countries.
Posted on 2/20/21 at 8:04 am to COAUTiger
quote:
Prior to March 2021, oil reach a couple of lows with Obama and rose during Trump's presidency. Not giving credit to Obama nor blaming Trump. Just saying it doesn't care who is President.
So when oil was sky high and Trump got the King to send a millions of barrels to lower the cost, there is no credit due there?
Posted on 2/20/21 at 8:18 am to COAUTiger
[quote]The price of oil is set by international supply and demand. It does not care who is President of the United States. Prior to March 2021, oil reach a couple of lows with Obama and rose during Trump's presidency. Not giving credit to Obama nor blaming Trump. Just saying it doesn't care who is President.
[/quote]
So, you conclude that Trump's energy policy of upping our production has no affect on "international supply and demand?
Geez.
[/quote]
So, you conclude that Trump's energy policy of upping our production has no affect on "international supply and demand?
Geez.
Posted on 2/20/21 at 10:31 am to cave canem
quote:The "tRumpkins" are vastly superior to you, you dumbazz
Just simply explain the below in relation to your statement cause just recently the tRumpkins were all in for higher oil prices, now yall are crying for getting what you asked for, it boggles the mind.
Posted on 2/20/21 at 10:33 am to ForeverGator
quote:Lets just not call it a "tax" on the presidency!
Oh man, you’re throwing facts out there. People on this board will not like that. Prepare to be cursed at since people want to continue to live in their own fears and spread their fears to others.
Posted on 2/20/21 at 4:33 pm to trinidadtiger
Yep, you are right Trinidad. Some wells are easier/less expensive to extract while other well/sources are more expensive. And that's why US oil continues to pump even when the ppb is still low. Capping a well is a last resort and actually quite expensive.
As far as the Saudi's oil cost, you are correct. That's why I mentioned the article stating they want oil at $80.
It's extremely low costs to get it out of the ground but unseen costs are the financing of the government. I had typed both of these points earlier, but no one wants to read a wall of text. There are so many variables that go into the price, I try to keep it as simple as I can without losing the audience. Heck, it's obvious no one is really reading what I write anyway.
Addressing others - Look, if you think a president has a big affect on oil prices, then you must give Obama credit even more credit as oil was the lowest it has been in decades. (HE) got it lower than Bush, it went up and then (he) got it to go back down, even lower than Trump's non-Covid years. As most of you know, a President really determines the price of oil.
Threatened OPEC+ countries? You don't know what countries are part of OPEC+. If you think the Saudis' alone make set the price, then you are really out of touch.
As far as US oil on the market, do you really think OPEC+ does not anticipate this every time the set the quotas and price?? Their entire government is based on the oil industry. You think they have no idea how US oil will impact the price? Do you think it is one guy sitting in a room throwing a dart at a board? They set quotas to set the price. Not the other way around. We have caught them by surprise a few times, but you don't think they learn from that? You think they don't pay attention to US oil production?
Continue believing what you want. I am tired of explaining and having giving hard data to back my statements. All I see is insulting talk with no data to back it up. Instead of telling me I am wrong, please provide the data to back that up. I am always glad to learn. I was trying to have a cordial discussion, but it is obvious that is not possible. I tried to answer all questions with facts/data or industry explanation. But hey, yall know more than commodity traders. My friends only do this for a living, what the heck would they know?
And Honeybadger07, you have quite a foul mouth on you. Continue to not be open to learning new info as you know everything. Hope you clean up your mind from that type of though if your end goal is to kiss the hand of God. By the way, another way I can tell you aren't actually reading what I type, that "HUGE increase under Trump", that was petroleum, not oil which is the topic of this thread.
Have fun telling false info to your friends!
As far as the Saudi's oil cost, you are correct. That's why I mentioned the article stating they want oil at $80.
It's extremely low costs to get it out of the ground but unseen costs are the financing of the government. I had typed both of these points earlier, but no one wants to read a wall of text. There are so many variables that go into the price, I try to keep it as simple as I can without losing the audience. Heck, it's obvious no one is really reading what I write anyway.
Addressing others - Look, if you think a president has a big affect on oil prices, then you must give Obama credit even more credit as oil was the lowest it has been in decades. (HE) got it lower than Bush, it went up and then (he) got it to go back down, even lower than Trump's non-Covid years. As most of you know, a President really determines the price of oil.
Threatened OPEC+ countries? You don't know what countries are part of OPEC+. If you think the Saudis' alone make set the price, then you are really out of touch.
As far as US oil on the market, do you really think OPEC+ does not anticipate this every time the set the quotas and price?? Their entire government is based on the oil industry. You think they have no idea how US oil will impact the price? Do you think it is one guy sitting in a room throwing a dart at a board? They set quotas to set the price. Not the other way around. We have caught them by surprise a few times, but you don't think they learn from that? You think they don't pay attention to US oil production?
Continue believing what you want. I am tired of explaining and having giving hard data to back my statements. All I see is insulting talk with no data to back it up. Instead of telling me I am wrong, please provide the data to back that up. I am always glad to learn. I was trying to have a cordial discussion, but it is obvious that is not possible. I tried to answer all questions with facts/data or industry explanation. But hey, yall know more than commodity traders. My friends only do this for a living, what the heck would they know?
And Honeybadger07, you have quite a foul mouth on you. Continue to not be open to learning new info as you know everything. Hope you clean up your mind from that type of though if your end goal is to kiss the hand of God. By the way, another way I can tell you aren't actually reading what I type, that "HUGE increase under Trump", that was petroleum, not oil which is the topic of this thread.
Have fun telling false info to your friends!
This post was edited on 2/20/21 at 6:27 pm
Posted on 2/20/21 at 4:41 pm to COAUTiger
quote:
COAUTiger
I’m going to need you to stop making sense right now. This is TD, there’s no place for rational thought.
Posted on 2/20/21 at 4:55 pm to billjamin
billjamin! My man! Try to help these people out, if you can. I am exhausted and tired of it. I like to spread knowledge and have informative discussions, but here, it's no longer fun or worth it. I don't know how grade school teachers do it.
Posted on 2/20/21 at 4:56 pm to LSUAlum2001
$100 by this summer. This is ok if you invest in oil.
Posted on 2/20/21 at 5:09 pm to COAUTiger
quote:
billjamin! My man! Try to help these people out, if you can. I am exhausted and tired of it. I like to spread knowledge and have informative discussions, but here, it's no longer fun or worth it. I don't know how grade school teachers do it.
I’m with you. I’m too tired to do it. It’s been a long miserable week
Posted on 2/20/21 at 8:28 pm to COAUTiger
Presidents can have an impact on regulations which impact production which impacts the price of oil.
When Obama changed the Energy department, he made it harder to explore offshore. Fracking increased
Oh, end oil is traded on the markets so there’s a bit of fluff in the price. Back when it got to $125/barrel there was no economic reason for it. A lot of that price was speculation.
When Obama changed the Energy department, he made it harder to explore offshore. Fracking increased
Oh, end oil is traded on the markets so there’s a bit of fluff in the price. Back when it got to $125/barrel there was no economic reason for it. A lot of that price was speculation.
This post was edited on 2/21/21 at 7:59 am
Posted on 2/21/21 at 6:59 am to SlidellCajun
Interesting, why did prices plummet in 2015?
From cnn “ First, a surge in production from American shale producers has led to a massive glut of oil.”
Can’t believe posters supporting Obama for shale production...because as we all know both he and biden are all for that, right? Couldn’t be the threat of lower production from this administration helping assist the rise.
I get it you are in the oil industry and higher prefixes helps... but it also hurts our economy to benefit you. We see through that.
Finally, spend enough time with stataticIans and you learn early on they are FOS.
From cnn “ First, a surge in production from American shale producers has led to a massive glut of oil.”
Can’t believe posters supporting Obama for shale production...because as we all know both he and biden are all for that, right? Couldn’t be the threat of lower production from this administration helping assist the rise.
I get it you are in the oil industry and higher prefixes helps... but it also hurts our economy to benefit you. We see through that.
Finally, spend enough time with stataticIans and you learn early on they are FOS.
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