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re: Oil producers in a ‘dire situation’ and unable to ramp output, says Oxy CEO
Posted on 3/8/22 at 11:56 am to ragincajun03
Posted on 3/8/22 at 11:56 am to ragincajun03
Supply chain issues shouldn’t exist anymore. Mask mandates have been lifted. Get back to fricking work.
Feels like all this is a ploy to Jack up prices on everything. frick all the regular folks.
Gas $7 per gallon? Buy an electric car! What’s gonna happen when everyone gets home in the evening and plugs their Tesla in and overloads the power grid. Oh I guess we better fund the BBB bill so they can cram all the useless green initiatives down our throat
Feels like all this is a ploy to Jack up prices on everything. frick all the regular folks.
Gas $7 per gallon? Buy an electric car! What’s gonna happen when everyone gets home in the evening and plugs their Tesla in and overloads the power grid. Oh I guess we better fund the BBB bill so they can cram all the useless green initiatives down our throat
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Posted on 3/8/22 at 11:56 am to TBoy
quote:
opening new offshore land cannot possibly increase production any time soon. This is just a propaganda talking point.
Maybe not, but removing ESG activist investors from bank and private capital boards and allowing the banks to invest in and bank with O&G companies certainly would.
Posted on 3/8/22 at 11:57 am to TBoy
quote:
opening new offshore land cannot possibly increase production any time soon. This is just a propaganda talking point.
The US has had this policy for nearly a year. And it's absolutely creating a very bleak picture for the future of the consumer market.
Everything we've done to prepare for this point has been too little, too late.
We should have done more to reduce our oil consumption 10 years ago, but we didn't.
We should have done more to develop our domestic manufacturing footprint 10 years ago, but we didn't.
We just keep doubling down on stupid.
This post was edited on 3/8/22 at 12:07 pm
Posted on 3/8/22 at 11:59 am to Bunk Moreland
Rightfully so. You're wrong. This isn't about peak oil. Its about getting supplies for new wells.
I work for a drilling pipe supply company and to makeup for the shortfalls in domestic production you'd need 150-200 more rigs a month running. That equates to early 155k TONNES A MONTH of steel pipe that is needed for casing and tubing to get material out of the ground.
Then that same oil and gas has to come and be transported and refined.
Russia/Ukraine supplies about 70% of the world for pig iron which is used in the production of steel.
Steel is used for production casing and tubing to get oil and gas out of the ground. Its not as simple as drilling more. It takes months for steel to be made, coated, and shipped for use on a rig. You cannot turn a valve and simply make more oil.
I work for a drilling pipe supply company and to makeup for the shortfalls in domestic production you'd need 150-200 more rigs a month running. That equates to early 155k TONNES A MONTH of steel pipe that is needed for casing and tubing to get material out of the ground.
Then that same oil and gas has to come and be transported and refined.
Russia/Ukraine supplies about 70% of the world for pig iron which is used in the production of steel.
Steel is used for production casing and tubing to get oil and gas out of the ground. Its not as simple as drilling more. It takes months for steel to be made, coated, and shipped for use on a rig. You cannot turn a valve and simply make more oil.
This post was edited on 3/8/22 at 12:03 pm
Posted on 3/8/22 at 12:01 pm to TBoy
quote:
opening new offshore land cannot possibly increase production any time soon.
That's not the argument here. We are too short sighted and too glued to our anti-oil agenda that we are creating a major vulnerability to our country. Every energy related policy decision made by this admin over the past year is contributing towards sustained pain for Americans.
We absolutely need to lift the pause on federal leases and start opening up the gulf to more drilling.
Posted on 3/8/22 at 12:02 pm to bayoutiger225
You can say this all has to do with political turmoil, coming off of the pandemic, Biden won't open up drilling, etc., etc. My point is, most of the easily discovered, easily produced oil on this planet is gone. It's a case of running faster and faster just to stay in place. Are people going to invest in shale/sands that decline in production quickly with wild price swings like this? Why can't our Saudi friends come to the rescue? There were books written fifteen years ago about how the massive water cut in their fields prefigured their inability to ramp up production.
Posted on 3/8/22 at 12:03 pm to Geauxld Finger
quote:
Gas $7 per gallon? Buy an electric car! What’s gonna happen when everyone gets home in the evening and plugs their Tesla in and overloads the power grid. Oh I guess we better fund the BBB bill so they can cram all the useless green initiatives down our throat
If war in Europe doesn't get the White House to pause their march towards their brand of energy production, nothing will. We need a pragmatist in the White House and we have some jack arse that's bought and paid for by the most progressive left wing environmentalists in the country.
Posted on 3/8/22 at 12:03 pm to TBoy
quote:
quote:
Seems like everyone is pointing the finger at everyone else....except for the people who paused federal leases and are slow walking permits in the gulf.
opening new offshore land cannot possibly increase production any time soon. This is just a propaganda talking point.
Agreed, but it's important to remember the stupidity of this administration pausing it in the first place. It wouldn't be a huge difference, but it would be better than where we are now. He can't wave a magic wond to suddenly produce more oil, but he also shouldn't have waved a magic wond to pause future potential oil.
Posted on 3/8/22 at 12:05 pm to Bunk Moreland
People have been talking about peak oil since we discovered oil. A good book called Oil 101 goes into some history about. When older wells decline in production around the country or an economic downturn happens, technology and R&D has allowed for more recoverable oil and gas. IE fracking.
Even in todays market you are seeing companies buy up old acreage and refrac those once useless wells.
Even in todays market you are seeing companies buy up old acreage and refrac those once useless wells.
Posted on 3/8/22 at 12:08 pm to ragincajun03
quote:
when actually supply chains not only in our industry, but every industry in the world, is being impacted by the pandemic
quote:
pandemic
Agree, the stupidity pandemic is bad
Posted on 3/8/22 at 12:08 pm to Geauxld Finger
quote:
Supply chain issues shouldn’t exist anymore. Mask mandates have been lifted. Get back to fricking work.
You act like the worlds economy is a honda civic that can just move as fast as it wants.
It's a giant machine. It can be shut down a lot quicker than it can start back up.
Posted on 3/8/22 at 12:08 pm to Steadyhands
quote:
Agreed, but it's important to remember the stupidity of this administration pausing it in the first place. It wouldn't be a huge difference, but it would be better than where we are now. He can't wave a magic wond to suddenly produce more oil, but he also shouldn't have waved a magic wond to pause future potential oil.
Washington has to read the fricking room and know when their agenda has to be put on hold. Now is not the time to be married to a radical green energy policy.
Posted on 3/8/22 at 12:10 pm to Geauxld Finger
quote:It's pretty common for an EV to schedule charging during off-peak hours. And as backfeed chargers become common, plugging in your EV when you get home will actually ease the load on the grid, in addition to possibly making some cash via time-of-use arbitrage for those with varied billing.
Gas $7 per gallon? Buy an electric car! What’s gonna happen when everyone gets home in the evening and plugs their Tesla in and overloads the power grid
Throw in how long it will take for people to buy EV's in significant numbers and the "overloaded grid" concerns are way overblown.
Posted on 3/8/22 at 12:13 pm to dewster
quote:Or maybe it's the perfect time? If we are headed for some dark economic times, I can think of no better outcome than if we come out the other side with a more diverse and competitive energy market.
Now is not the time to be married to a radical green energy policy.
Posted on 3/8/22 at 12:15 pm to frequent flyer
quote:
Tell me what supply chain issues are impacting exploration specifically.
We can start with parts. Supply chain issues are real and not getting better and they affect every industry that relies on deliveries and materials.
Posted on 3/8/22 at 12:16 pm to TBoy
Aren’t you a big green new deal guy?
Posted on 3/8/22 at 12:16 pm to Geauxld Finger
quote:
Supply chain issues shouldn’t exist anymore. Mask mandates have been lifted. Get back to fricking work.
There's dumb and then there's really fricking dumb.
Posted on 3/8/22 at 12:19 pm to TBoy
Well maybe if they had granted them years ago instead of purposefully hindering oil production for personal gain then today would equal soon.
Posted on 3/8/22 at 12:21 pm to dewster
quote:
Seems like everyone is pointing the finger at everyone else....except for the people who paused federal leases and are slow walking permits in the gulf.
Dey just Biden dere time.
Posted on 3/8/22 at 12:24 pm to Geauxld Finger
Have you tried to buy anything in the last year?
Raw materials are a challenge.
There are few US steel manufacturing that still exist.
Go try and find any type of bulk rubber products. You know what needs rubber? Electrical wire.
If you need anything with a circuit board, good luck.
If we had factories ready to go right now, there are workers to fill the positions needed.
This is a problem that has been manifesting for quite some time. As a country we kept outsourcing everything to other countries for the cheapest version.
Fixing supply chain issues is going to take US companies in investing back in America and US consumers willing to spend more for American made.
Government officials peddling that electric vehicles are going to fix everything, better come up with a way to build the damm things. Not to mention charging them.
Raw materials are a challenge.
There are few US steel manufacturing that still exist.
Go try and find any type of bulk rubber products. You know what needs rubber? Electrical wire.
If you need anything with a circuit board, good luck.
If we had factories ready to go right now, there are workers to fill the positions needed.
This is a problem that has been manifesting for quite some time. As a country we kept outsourcing everything to other countries for the cheapest version.
Fixing supply chain issues is going to take US companies in investing back in America and US consumers willing to spend more for American made.
Government officials peddling that electric vehicles are going to fix everything, better come up with a way to build the damm things. Not to mention charging them.
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