re: why are we importing any oil ????

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The guy you replied to was just pointing out how the industry works. It amazes me how some people can be so blinded by politics that a simple statement about the nature of the oil & gas industry elicits this type of response.

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No he was repeating the lefts talking point that the president doesn't have any control over oil and gas prices. Which is a complete bullshite argument and one designed to deflect from a terrible policy of relying on oil from enemies who want to destroy us.

The president absolutely has the power to impact supply and therefore impact pricing. I don't know how this is even arguable but in lefty clown world I guess it's acceptable.

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Yet somehow the number of drilling rigs in operation in the US has nearly doubled since he took office

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How is this possible? Biden in fact has said he was shutting down drilling. I heard him say it several times and it's quoted all over. So is he a liar? Doesn't keep his promises? Weird.

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You sound like a miserable prick.

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I hate disingenuous people who repeat media fed lies to promote dangerous policy. If that makes me a miserable prick then so be it.

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No he was repeating the lefts talking point that the president doesn't have any control over oil and gas prices. Which is a complete bullshite argument and one designed to deflect from a terrible policy of relying on oil from enemies who want to destroy us.

The president absolutely has the power to impact supply and therefore impact pricing. I don't know how this is even arguable but in lefty clown world I guess it's acceptable.

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It’s not that the president has no power to influence US oil production. It’s that there are other factors that have orders of magnitude more impact. That’s not a political talking point. It’s a fact of the oil & gas industry. Anybody who remotely understands those markets will tell you that.

Case in point: we have a president who has vocally opposed the oil & gas industry, yet rig counts have only increased since he took office. It’s very likely that we will set a new all-time high for US crude oil production within the next few months.

US production doesn’t drive oil prices. Oil prices drive US production. For some reason it’s difficult for people to understand that, I guess because they just can’t grasp the stranglehold OPEC has on the global oil market, or the fact that US total market share doesn’t matter when it’s split up between 1000 companies who legally cannot collude to set production quotas/prices (unlike OPEC). I’d try to explain it again, but it’s pretty clear you aren’t interested in understanding it anyway.

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How is this possible? Biden in fact has said he was shutting down drilling. I heard him say it several times and it's quoted all over. So is he a liar? Doesn't keep his promises? Weird.

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Maybe because whatever changes he could make unilaterally simply didn’t affect drilling activity very much (which is kind of the point)?

Or maybe he’s full of shite and lacks the political capital to deal that kind of blow to the industry.. which, also, is kind of the point.

There was never a time we did not import oil.

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I thought that years ago we became energy independent and net exporter? Did this change ?

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Just because you are a net exporter doesn’t mean you don’t import oil.

We’ve been importing oil for decades upon decades. We’ve been importing oil from Russia since at least 1995.

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The week Biden took office he cancelled the Keystone and banned oil drilling in national lands. USSC ruled that his ban on new oil lease sales is unconstitutional but has still refused to do so.

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The Biden Administration has yet to ban drilling on Federal Lands. That is a fact. There is current drilling on Federal Lands now. Lots of it in the Permian.

Also, the United States Supreme Court has not ruled, at this time, on any of the offshore leasing cases. There were two district cases so far, one that API won, where the Administration then held a GOM lease sale, then after where the enviro NGOs sued Biden Admin and won, which “threw out” the lease sales.

Where do some of you people get your info? I agree Biden is a horrible leader and an idiot, but some of you seem to be just as uninformed as him.

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It’s not that the president has no power to influence US oil production. It’s that there are other factors that have orders of magnitude more impact. That’s not a political talking point. It’s a fact of the oil & gas industry. Anybody who remotely understands those markets will tell you that.

Case in point: we have a president who has vocally opposed the oil & gas industry, yet rig counts have only increased since he took office. It’s very likely that we will set a new all-time high for US crude oil production within the next few months.

US production doesn’t drive oil prices. Oil prices drive US production. For some reason it’s difficult for people to understand that, I guess because they just can’t grasp the stranglehold OPEC has on the global oil market, or the fact that US total market share doesn’t matter when it’s split up between 1000 companies who legally cannot collude to set production quotas/prices (unlike OPEC). I’d try to explain it again, but it’s pretty clear you aren’t interested in understanding it anyway.

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exactly this...

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No he was repeating the lefts talking point that the president doesn't have any control over oil and gas prices.

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No, having never heard the left talk about this, I was repeating what people I know in the oil industry have told me.

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I hate disingenuous people...

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I got chunks bigger than guys like you in my stool. You are the one being disingenuous because you're stuck on "democrat vs republican" just like the media wants you to be.

The US isn't now, nor has it ever been a net exporter of crude oil.

For the week ending November 30, 2018, the US became a net exporter of both crude oil and petroleum products combined for the first time. Since then until present, that has occurred 54 weeks.

The US imports different grades of crude than it produces.

Dude, everyone in the oil industry, from geologists to surveyors to inspectors to cargo representatives to operators to brokers, that I personally know are very conservative. I doubt they watch MSNBC.

I can drive down the highway and estimate how much oil is selling for just by looking at how many pump jacks are running. If oil is too low, they don't run. When oil is high enough, they start pumping. OPEC controls the prices, since they can extract a barrel of oil much cheaper than U.S. fracking. We adjust our production accordingly.

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Apart from your childish insult.

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I hate...

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Whatever you say, pal.