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Started By
Message
re: Oil prices could rise as Saudi Arabia announces cuts of 500,000 barrels daily
Posted on 4/2/23 at 2:27 pm to LSUSUPERSTAR
Posted on 4/2/23 at 2:27 pm to LSUSUPERSTAR
quote:
Energy independent is way different than saying we didn't import any oil. You either know that and are trolling or you are an idiot for not knowing it.
Can you please explain it to me? I’d like to be informed.
Thank you in advance.
This post was edited on 4/2/23 at 2:28 pm
0
Posted on 4/2/23 at 2:51 pm to RLDSC FAN
Our nation voted for this shite. Thank the Biden Administration for buddying up to Iran and pissing off The Kingdom. Next up they swap their currency reserve….so get ready for some real inflation.
Posted on 4/2/23 at 2:55 pm to lake chuck fan
quote:
At this point, calling Saudi Arabia "allies" is stretching it. Biden has made sure of that, claiming to treat them as pariahs
They should be treated as pariahs.
Posted on 4/2/23 at 3:30 pm to LSUSUPERSTAR
quote:
Energy independent is way different than saying we didn't import any oil. You either know that and are trolling or you are an idiot for not knowing it. Both make you a loser.
What’s funny about this entire argument is that by the metric being touted in this thread (the same metric touted by the Trump admin in 2019), we are actually more energy independent than we were at any point during the Trump administration.
If that sounds ludicrous, it should - the idea of energy independence is largely a fallacy (at least as presented) to begin with. It’s just a measure of market share.
Meanwhile total energy imports are as low as they’ve ever been outside of the COVID shutdowns, and total fossil fuels production hit a new all time high in October.
Crude oil production, on a purely volumetric basis, is not quite back to pre-COVID levels. But crude oil imports are at all-time lows.
Two things can be true simultaneously:
1. The Biden administration is not a friend of the O&G industry.
2. The energy independence argument is silly, especially if you’re trying to compare energy independence today to the Trump administration. Energy independence (or lack thereof) affects US market share, but it doesn’t insulate us from global price swings.
This post was edited on 4/2/23 at 3:33 pm
Posted on 4/2/23 at 3:36 pm to lostinbr
quote:
Two things can be true simultaneously:
1. The Biden administration is not a friend of the O&G industry.
2. The energy independence argument is silly, especially if you’re trying to compare energy independence today to the Trump administration. Energy independence (or lack thereof) affects US market share, but it doesn’t insulate us from global price swings.
Bingo.
But this will unfortunately go over the head of quite a few posters.
Posted on 4/2/23 at 3:43 pm to RLDSC FAN
Remember when we blamed Saudi Arabia for 9/11 and continued to refer to them as allies?
Posted on 4/2/23 at 4:09 pm to lostinbr
quote:
Two things can be true simultaneously:
1. The Biden administration is not a friend of the O&G industry.
2. The energy independence argument is silly, especially if you’re trying to compare energy independence today to the Trump administration. Energy independence (or lack thereof) affects US market share, but it doesn’t insulate us from global price swings.
Yep.
Unfortunately your well-thought out and written post will go right over the heads of our resident smooth-brains here.
Posted on 4/2/23 at 4:15 pm to Deuces
quote:you right
It was nice when we were energy independent i
.... But what does that have to do with the price of tea in China?
Posted on 4/2/23 at 5:10 pm to SuperSaint
Three pages and nobody has pointed out the fact that this would be a cut of 0.5% of global oil production per day, which equates to a 1.5 cent increase in a $3 per gallon price of gas. So a nothingburger.
Posted on 4/2/23 at 5:18 pm to Diseasefreeforall
That’s not how supply and demand curves work. 
Posted on 4/2/23 at 5:30 pm to Diseasefreeforall
quote:
Three pages and nobody has pointed out the fact that this would be a cut of 0.5% of global oil production per day, which equates to a 1.5 cent increase in a $3 per gallon price of gas. So a nothingburger.
Posted on 4/2/23 at 5:33 pm to Diseasefreeforall
quote:
Three pages and nobody has pointed out the fact that this would be a cut of 0.5% of global oil production per day, which equates to a 1.5 cent increase in a $3 per gallon price of gas. So a nothingburger.
/Thread.
Posted on 4/2/23 at 5:48 pm to RLDSC FAN
“Build Back Better”
FJB.
FJB.
Posted on 4/2/23 at 5:52 pm to LSUSUPERSTAR
quote:
Energy independent is way different than saying we didn't import any oil.
It's like they don't understand that more oil was exported than total consumed. This is because oil is purchased on an open market so US refineries aren't beholden to running US produced oil first.
Sour crude refineries look to capitalize on cheaper crudes from other countries than what's typically produced in the GOM.
Posted on 4/2/23 at 5:55 pm to LunkerDawg
quote:
Unfortunately your well-thought out and written post will go right over the heads of our resident smooth-brains here.
quote:
Build Back Better”
FJB.
quote:
smooth-brain
quote:
LunkerDawg
Exhibit A.
Posted on 4/2/23 at 5:56 pm to lostinbr
quote:
What’s funny about this entire argument is that by the metric being touted in this thread (the same metric touted by the Trump admin in 2019), we are actually more energy independent than we were at any point during the Trump administration.
because of investments made during the trump admin
o&g companies are squeezing every drop out of the wells they have completed, re-investment in exploration has slowed due to WH policy changing and less capital available from banks. o&g companies are doing more with their cash and less reliance on debt
Posted on 4/2/23 at 5:57 pm to WaydownSouth
quote:
Would like to know democrats end goal. For everyone to own nothing and beg to the government for mercy?
Are you under the impression that the democratic party dictates what Saudis do? I have bad news for you. You're a moron.
Posted on 4/2/23 at 5:58 pm to Cuz413
quote:
It's like they don't understand that more oil was exported than total consumed. This is because oil is purchased on an open market so US refineries aren't beholden to running US produced oil first.
I was doing some work around LOOP and their capacity, etc.
Didn't realize they were running around 50% exports these days.
Posted on 4/2/23 at 5:59 pm to supatigah
quote:
because of investments made during the trump admin
So the low prices under Trump were because of Obama policies?
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