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re: Bloomberg Piece: The Real Reason Gas Is So Expensive? The US Needs More Refineries
Posted on 7/13/22 at 5:16 pm to dawgfan24348
Posted on 7/13/22 at 5:16 pm to dawgfan24348
quote:
Oil companies don’t need more refineries they have enough even the CEO of BP has admitted to that but it’s not what their share holders want. These oil companies have had a virtual monopoly over the industry for decades now and so many here are falling in line with whatever the oil companies say cause they can own the libs
this entire statement is not only a lie but has been proven false a dozen times over in the last few months. just stop.
maybe go on to the next candidate in the MSM talking points circle of blame for gas prices? Greedy Gas Stations? Putin’s Price Hike? “It’s a global problem”
This post was edited on 7/13/22 at 5:27 pm
1
Posted on 7/13/22 at 5:29 pm to Klark Kent
The best part is him talking about how people repeat whatever the oil companies say. This is coming from a guy who's every political comment looks like it comes straight from CNNs talking points list.
Then Oweo talking about Trump being a con man for probably the 50th time but voted for a guy who has been a politician for 50 years and jack shite to show for it.
Then Oweo talking about Trump being a con man for probably the 50th time but voted for a guy who has been a politician for 50 years and jack shite to show for it.
Posted on 7/13/22 at 6:04 pm to Deactived
who’s entire family is also corrupt as frick. ohh the irony with the wheeled one
Posted on 7/13/22 at 6:10 pm to Bout_Dat_Lyfe
quote:
Why is Bloomberg telling the truth for once? It's usually unadulterated propaganda from them...
Laying the ground work for Big Mike
Posted on 7/13/22 at 6:27 pm to Barbellthor
quote:
Biden's usefulness to the establishment is over. That's why.
this.
the main reason why controlled mass media is attacking Biden now is because they want some other Dem as POTUS next time.
Posted on 7/13/22 at 6:27 pm to SlimTigerSlap
quote:
Happened under two US Presidents at home and abroad, but puppets cry Biden. People + politics is a shameful mixture.
Which side of the political spectrum supported massive lockdowns and economic shutdowns and which opposed them?
Posted on 7/13/22 at 6:31 pm to dawgfan24348
quote:
Oil companies don’t need more refineries they have enough even the CEO of BP has admitted to that but it’s not what their share holders want
You mean the CEO of BP (British Petroleum), Bernard Looney?
You’re supporting your asinine take on the United States’ domestic refining supply on a man that lives in London and heads a foreign company?
The same guy that sat on the Russian state-owned energy giant (Rosneft) up until February?
You should probably do a little research before spouting MSM talking points, but I’m sure you won’t, Useful Idiot.
Posted on 7/13/22 at 6:42 pm to Scruffy
quote:
They didn’t even attempt to get out in front of any of this and actively demonized the petroleum industry politically, socially, and economically.
Bro. They Biden's Handlers literally sent out a tweet that was blaming the frickin gas stations! They don't even make money on selling gas. The entire administration is full of idiots who have no idea how dumb or tone deaf what they're saying/doing is.
Posted on 7/13/22 at 6:45 pm to ragincajun03
Capitalism bites sometimes. Sorry, Friedman.
When pandemics shut down chit and demand for companies’ goes to chit, it turns out companies contract to survive. So when demand fires back up post pandemics and supply lags because capex was not invested to produce to demand, prices go up.
Econ 201 for everyone!
When pandemics shut down chit and demand for companies’ goes to chit, it turns out companies contract to survive. So when demand fires back up post pandemics and supply lags because capex was not invested to produce to demand, prices go up.
Econ 201 for everyone!
Posted on 7/13/22 at 6:47 pm to Cheese Grits
quote:
Not exactly news. This has been known since the Great Depression days of the 1930's. While they claim 1977 as the last "new" refinery I think that was actually an upgrade of an existing facility and not technically "new".
Marathon Garyville was new in 1977. It was the last major greenfield refinery built. There have been many “upgrades to existing facilities” around the country since that time which have added significant amounts of capacity. As an example - Marathon Garyville’s capacity effectively doubled after completion of the GME project in 2009. GME was for all intents and purposes a new refinery, it was just built adjacent to the existing refinery in Marathon property.
Which is why the line about no new refineries since 1977, while interesting and technically true, is a bit misleading. Despite technically being old, most refineries have added capacity/units and effectively rebuilt existing units since their original startups.
The bigger issue is that since 2019-2020, major refinery projects have either been on hold, delayed, or capital tied up in renewable diesel projects.
quote:
I think the last true oil refinery in the USA was built before World War II. As crazy as this seems, it is the fault of both Democratic and Republican US presidents since for not holding the oil companies feet to the fire in all those years (some the best earnings years in US history).
Are you saying the best earning years in US refining history were from 1943-present? Not exactly going out on a limb there.
Posted on 7/13/22 at 6:48 pm to dawgfan24348
quote:
These oil companies have had a virtual monopoly over the industry for decades now and so many here are falling in line with whatever the oil companies say cause they can own the libs
I see you still have no idea what the word “monopoly” means.
In other news, cane farmers have a virtual monopoly on the sugar cane industry.
Posted on 7/13/22 at 6:49 pm to SuperSaint
quote:
truck nuts
It’s really not funny anymore
Posted on 7/13/22 at 6:52 pm to Antonio Moss
quote:
Which side of the political spectrum supported massive lockdowns and economic shutdowns and which opposed them?
Both sides. And I think you know this.
Posted on 7/13/22 at 6:58 pm to lostinbr
quote:
Are you saying the best earning years in US refining history were from 1943-present? Not exactly going out on a limb there.
I am guessing the most profitable time was when it was still a monopoly under a single firm and a single man. It started with Flagler who came up with squeezing the railroads on transportation (Seems he was basically shipping for free) but his junior partner Rockefeller would get the press and glory.
What I am saying is the economic might of the USA in the 50's, 60's, and 70's should have provided ample profits to build newer refineries even if it meant the US government forcing the upgrades. Just like we neglected our infrastructure for 50 years (and why China are becoming out overlord) is they have relatively new infrastructure with is a cost that must be taken to keep the spot as the lead dog on the sled.
Posted on 7/13/22 at 7:35 pm to Cheese Grits
quote:
What I am saying is the economic might of the USA in the 50's, 60's, and 70's should have provided ample profits to build newer refineries even if it meant the US government forcing the upgrades.
There was a shitload of investment in refining capacity during those years. US refining capacity increased from about 6 million barrels per day in 1949 to 18 million barrels per day in 1980. Today, we actually have less refining capacity than we did in 1980. This is largely because refineries were so overbuilt between the end of WW2 and 1980 that they were only running at like 60% utilization. When the US government dropped price controls on oil in 1981, the industry crashed - capacity dropped to 15.5 million barrels per day by 1986 and stayed flat until 1997. It’s been steadily increasing since then.
TL;DR - Most of today’s refining capacity was originally built out during the period you referenced.
This post was edited on 7/13/22 at 7:36 pm
Posted on 7/13/22 at 8:49 pm to Scruffy
quote:
But you did vote and voted for Biden.
Yes. And what Trump did after he lost the election (and you can believe what you want, but that election was no stolen. All of his bullshite claims were investigated by people who actually supported him.. Well, they used to support him, he pissed a lot of people off).
Can you look at all the evidence that has been collected and honestly say he truly deserves to be president again? If you think he gives a frick about this country then there is nothing I can say that will change your mind. Some people just have that charism that grabs people and pulls them in. He should have been a mega church preacher. He is a Joel Olsteen, he is Scientology. You will go down defending him and I have never seen a president have that sort of power over so many people.
And he was a shite bag before he ran for president (the first time.. in the 80s).
quote:
1987-1988: Trump considers a run for president, while simultaneously juggling large debts stemming from his purchase of the Taj Mahal casino.
quote:
2000: Trump enters the presidential race as a Reform Party candidate and receives more than 15,000 votes in the party's California primary.
And this dude's party history.
In 1987 he registers for the first time as a Republican, then in 99 he changed to Independent. In 2001 he changed to Democrat which he was for 8 years, changed to Republican for two years, then changed to "no party" then in 2012 he changed back to Republican.
The only reason he became Republican was because he did want to run for president and that was the party that appeared to have the easiest path at the time.. Looking 4 years ahead.
If he would have ran for Democrat he would have used the same tactics to appeal to all the people you hate. And that's the guy who is your hero.
Posted on 7/13/22 at 8:51 pm to OweO
That's a whole lot or words to say that you're broken, OweO.
Posted on 7/13/22 at 8:51 pm to Oilfieldbiology
quote:
By the time the next refinery comes on line, it will most likely be after the NEXT presidential term.
Weren’t there a couple that shut down fairly recently. It is my understanding that they could be up and running relatively quickly.
Posted on 7/13/22 at 8:52 pm to OweO
Chris, seriously bud. Your TDS is getting embarrassing at this point. Seek help.
Back on topic, your President has done nothing but publicly lash out at US O&G, sent inexperienced ESG staffers to meet with their CEO’s, and enacted dozens and dozens of policies and regulations directly or indirectly harming US O&G production. There is no denying that at this point. You voted for that.
Back on topic, your President has done nothing but publicly lash out at US O&G, sent inexperienced ESG staffers to meet with their CEO’s, and enacted dozens and dozens of policies and regulations directly or indirectly harming US O&G production. There is no denying that at this point. You voted for that.
This post was edited on 7/13/22 at 8:53 pm
Posted on 7/13/22 at 9:16 pm to Klark Kent
quote:
Back on topic, your President has done nothing but publicly lash out at US O&G, sent inexperienced ESG staffers to meet with their CEO’s, and enacted dozens and dozens of policies and regulations directly or indirectly harming US O&G production. There is no denying that at this point. You voted for that.
YOUR president tried to force his way to stay in power.. He used the proud boys and oat takers as his own militia. They were body guards for Rodger Stone. They had a lot of firepower in Virginia on January 6. Trump was willing to let his VP be killed just to keep himself in power. And as crazy as that sounds, there is evidence that proves it all. There are timelines put together by tweets and other social media post from people, by people who testified and through audio recording.
You can't even argue are claim its fake news. He did the most anti-democracy thing a president can do. He tried to keep himself in power at any cost. That's what I voted against.
Trump thrived on chaos. He knows that chaos causes people to pick sides and if he tells the majority what they want to hear they will stick to him like a magnet. That's what you voted for.
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