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re: Latest Updates: Russia-Ukraine Conflict
Posted on 7/1/22 at 1:48 pm to CitizenK
Posted on 7/1/22 at 1:48 pm to CitizenK
The very average American will believe what they choose to believe here. That's how we end up with a nation of neocons.
Funny how that used to be a pejorative, now people wear it proudly. its Europe's war, not ours.
This post was edited on 7/1/22 at 1:51 pm
0
Posted on 7/1/22 at 1:50 pm to CitizenK
BTW, that total amount produced included about 2 million BPD from stripper wells with only a few barrels per day production. They had to be shutdown in Spring of 2020 when all tank farms were full everywhere due extreme slowdown in refining. Most of those sanded up and not worth the expense to rework to get flowing again, so plugged and abandoned
Posted on 7/1/22 at 1:51 pm to SOSFAN
quote:
This might have held water had we not become the number 1 producer under Trump. Do you think our fields all of a sudden went dry? Open your eyes to reality
We were the number one producer in 2014 (and 2015 too), according to the BP report I posted elsewhere, but crude oil prices were still extremely high until June of 2014, when the price of crude dropped from $120 a barrel to a statistical low of $61 a barrel. Prices increased from there to $86 a barrel despite the increase in production in the US. What mediates oil prices then? I'm asking as I know nothing about oil markets and there seems to be something inelastic about them.
Posted on 7/1/22 at 1:55 pm to CitizenK
(no message)
This post was edited on 6/18/26 at 5:49 pm
Posted on 7/1/22 at 1:55 pm to SOSFAN
quote:
The shortages is due to shutting our country down unnecessarily for 2 years and giving thousands of dollars away for free
Having a president campaign on ending fossil fuel isn't good for anyone.
If people don't think this had an affect, they're idiots..
Evidently there's people in this thread who don't understand economics and why printing money to give to Ukraine at the present time is really stupid.
Posted on 7/1/22 at 1:57 pm to Scruffy
quote:
The conflict ends faster, we don’t send any more money, and we can focus on normalizing the world’s supply chains.
But is sending money to Ukraine related to normalizing supply chains at all? Prices and inflation were increasing before the Russian invasion. If the conflict ends faster, would supply chains somehow immediately recover?
The answer to COVID should have been to build state capacity for certain important needs such as healthcare-related goods as well as things like chip foundries, in my estimation, but I don't think we did that. Returning to the pre-COVID normal still didn't address some of the weaknesses of US industrial capacity, although it is good that Intel announced two new chip factories outside Columbus, Ohio.
Posted on 7/1/22 at 1:59 pm to OMLandshark
That chart isn't an estimate of reserves. It is about production. Those are two different things. Again, see this report. LINK
Posted on 7/1/22 at 1:59 pm to OMLandshark
quote:
And energy costs across the board have skyrocketed since the basement dummy took office.
I'm sure his war on fossil fuel has investors chomping at the bit.
Posted on 7/1/22 at 2:00 pm to OMLandshark
Not reserves, production and then 2 million BPD of stripper wells were lost forever after being shutdown due slowdown in 2020
How is 17 MPD of refining supplied by that production even with 2 million BPD being exported?
How is 17 MPD of refining supplied by that production even with 2 million BPD being exported?
Posted on 7/1/22 at 2:01 pm to SOSFAN
The world shutdown, except Sweden
Posted on 7/1/22 at 2:01 pm to CitizenK
quote:You should try reading the actual transcripts of Putin's speeches, rather than the NYT, BBC, WaPo, etc.. editorials. In the 2/21 speech he talks about pre-Bolshevik Russia in relation to Ukraine and its borders, and also quotes this book (Always with Honor - Pyotr Wrangel):
Putin's actual publicly stated goals of restoring Russia to the borders of the USSR
The author Wrangel was the leader of the anti-communist "White Army" against the "Red Army" after Czar Nicholas II abdicated the Russian throne. Putin is not a Bolshevik. But go ahead and keep on believing all the Yalies, Kennedy School, and other Ivy League foreign policy and media shite stains that have been using the same playbook since the 50's.
This post was edited on 7/1/22 at 2:04 pm
Posted on 7/1/22 at 2:05 pm to crazy4lsu
quote:
But is sending money to Ukraine related to normalizing supply chains at all?
Economically, its backwards.
It will further frick up supply chains because it increases demand for transportation and hardware.
This post was edited on 7/1/22 at 2:07 pm
Posted on 7/1/22 at 2:07 pm to RogerTheShrubber
quote:
I'm sure his war on fossil fuel has investors chomping at the bit.
But the energy prices to ultimate consumers has been elevated since May of 2020, but the trend of prices has been steadily increasing since 2012, when it was 9.84 to 2019, when it was 10.59. Those energy prices include two oil crashes, one in 2014 and one in 2020. Energy prices were under 11 for a period between March and May of 2021, but then started increasing again, possibly driven by summer demand. Prices were trending downward again in October of 2021 to the end of that year, but increased sharply in January from 11.1 to 11.3, and then 11.6 in the month of March.
The milieu of those energy prices is presidencies that had widely different approaches to energy. What's the explanation for consistent price increases the past decade?
Posted on 7/1/22 at 2:09 pm to crazy4lsu
quote:
But the energy prices to ultimate consumers has been elevated since May of 2020,
And still rising.
Biden has done nothing to alleviate the problem and his "war on fossil fuels" made it worse. I wouldn't invest long term in something that he's vowed to destroy.
I'm sure the war machine we just funded will not cause this to worsen one bit. Billions of dollars to push the supply chains that are already broken.
Social reformers make shitty leaders.
Posted on 7/1/22 at 2:10 pm to SOSFAN
some of you have absolutely no idea how governmental accounting and spending work...
Posted on 7/1/22 at 2:10 pm to RogerTheShrubber
quote:
Economically, its backwards.
It will further frick up supply chains because it increases demand for transportation and hardware.
So it further fricks up supply chains, but there is no guarantee that supply chains would be fixed if there was no US support of Ukraine at all? Why were prices for some aspects of logistics management increasing well before the war and COVID? LINK
Posted on 7/1/22 at 2:12 pm to RogerTheShrubber
quote:
And still rising.
Biden has done nothing to alleviate the problem and his "war on fossil fuels" made it worse. I wouldn't invest long term in something that he's vowed to destroy.
I'm sure the war machine we just funded will not cause this to worsen one bit. Billions of dollars to push the supply chains that are already broken.
Social reformers make shitty leaders.
Well none of that actually answers my question. Why has the ultimate price to consumers increased despite whatever approach the US takes to energy? Give me something substantive for once.
Posted on 7/1/22 at 2:13 pm to crazy4lsu
quote:
So it further fricks up supply chains, but there is no guarantee that supply chains would be fixed if there was no US support of Ukraine at all?
What the frick is wrong with you? Do you not understand that between two extremes you'll most likely find a hell of a lot of middle ground? Why further frick up something that's already fricked up? Do you realize that prolongs recovery? What part of "making it worse" do you not understand?
So, because you have no guarantee its Ok to further make the same mistakes again? Jesus Christ.
The last thing you do in economic distress is heat up things even more. that's as simple economics as you can get.
This post was edited on 7/1/22 at 2:15 pm
Posted on 7/1/22 at 2:15 pm to RogerTheShrubber
No disagreement about Biden but refinery closures were about business decisions, except for Shell which was forced by a lawsuit in Europe to cut refining capacity globally.
The truth is that refineries are money losers as often as they return a low single digit profit in percent profit. in 2020 they were epic losers globally.
The truth is that refineries are money losers as often as they return a low single digit profit in percent profit. in 2020 they were epic losers globally.
Posted on 7/1/22 at 2:17 pm to CitizenK
quote:
but refinery closures were about business decisions,
Biden has stated he wants to end fossil fuels. There's no way to claim that isn't impacting the situation.
When you beg others to produce while putting your own fields off limits, this is the shite you get.
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