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re: Oil is at 90 dollars a Barrell now
Posted on 2/3/22 at 4:10 pm to TBoy
Posted on 2/3/22 at 4:10 pm to TBoy
quote:
The imbeciles, like you, scream that oil prices are too high and should be lower, and that somehow low per barrel oil prices is good for American production. You think American production of oil is free, that it magically jumps out of the ground and does not require a floor price to be viable.
It's pretty fricking comical watching the rampant inflation due to your boy while you sit here and lecture us about how right wingers are out of touch with how the economy works.
It's bizarre how some days you can be somewhat reasonable, then you have days like today where the dumb shite flows out of you like diarrhea
1
Posted on 2/3/22 at 4:17 pm to LNCHBOX
My work intersects with oil and gas daily. When oil is depressed, that segment of the economy shuts in. Under the current economic environment the oil and gas sector is seeing signs of life again.
But by all means, spew your bullshite about how Biden is destroying oil and gas because oil is at $90 a barrel, still well below where it was last time production was vibrant.
But by all means, spew your bullshite about how Biden is destroying oil and gas because oil is at $90 a barrel, still well below where it was last time production was vibrant.
Posted on 2/3/22 at 4:24 pm to TBoy
quote:
This is a sign of recovery.
Posted on 2/3/22 at 4:26 pm to TBoy
quote:
We are really only a net exporter when we can afford to produce it. Depressed oil prices force us to reduce domestic production and buy oil from other nations who can produce it more cheaply. That's why oil prices in this range and a little higher are absolutely necessary for American oil producers to do their thing.
This was discussed just two days ago on here or the OT in regards to "energy independence", which really should be more called "net export".
The US became a net exporter of oil in 2019, but then with the laying down of rigs and drop of prices in Q1 of 2020, we reverted back to a net importer during the Summer of 2020. Since that time, I think it’s kind of been back and forth.
One of the big aids in us becoming a net exporter was the fracking boom coupled with the Energy Bill of 2015 that a Republican-led Congress passed and then-President Obama signed. It allowed domestic producers to export crude overseas. Prior to that, only refined products like gasoline and diesel could be sold overseas.
The argument that we became a net exporter solely because of President Trump's policies is a fallacy. Trump's Department of the Interior merely just didn't jack the industry up with increased regulation.
However, the argument that we need "high" oil prices, like in the $80-100s, in order to be a net exporter is a fallacy as well. Throughout 2019, prices hovered around $55/bbl. as an average, and the smart E&P companies were making really good money then, especially those who learned their lesson from 2014-2015 and learned to consolidate and be more efficient with their capital.
This post was edited on 2/3/22 at 4:30 pm
Posted on 2/3/22 at 4:38 pm to Chazreinhold
Oh joy. I can’t wait for the California summer blend prices… we’re already sitting just under $5/gallon for premium at your Chevrons & Shells.
Thank God for Costco.
Thank God for Costco.
Posted on 2/3/22 at 4:47 pm to TBoy
quote:
$90 a barrel, still well below where it was last time production was vibrant.
That's not at all accurate.
Production was pretty damn vibrant in the Fall of 2019 at $55-65 range, just prior to the OPEC-Russia battle and COVID shutdowns.
I like graphs more than political talking points from either side of the partisans.
LINK
This post was edited on 2/3/22 at 4:50 pm
Posted on 2/3/22 at 5:00 pm to back9Tiger
quote:
And there really is only one reason for it, Biden policies and lack of investment in production
quote:
Despite lofty promises on environmental goals, President Biden has outpaced even President Trump in issuing new drilling permits on public land.
Biden in his first week in office had issued an executive order halting new leases for oil and gas drilling. But that order was struck down by U.S. District Judge Terry Doughty in Louisiana, and the administration has said its hands were tied and it had to continue issuing the leases.
Biden issued 3,557 permits for oil and gas drilling in his first year in office, 900 more than Trump in his first year, according to federal data compiled by the Center for Biological Diversity.
'Biden's runaway drilling approvals are a spectacular failure of climate leadership,' said the Center for Biological Diversity's Taylor McKinnon in a statement. 'Avoiding catastrophic climate change requires ending new fossil fuel extraction, but Biden is racing in the opposite direction.'
Legal challenges have 'made it impossible for us to stop many of these leases,' White House press secretary Jen Psaki said during a daily briefing on Thursday.
Permits are typically issued for leases that have already been sold, mostly under previous administrations.
LINK
While no doubt President Biden would love to shut down the industry and cancel permits on Federal Lands, currently it is inaccurate to state what you did above, as Federal APDs are flowing out of Dept. of Interior offices. His own Democrat Governors of NM and CO screamed mercy when he's proposed stopping oil & gas activities on Federal Lands. New Mexico and their Democrat leadership would be in charge of a bankrupt, dustbowl state if that were to happen.
This post was edited on 2/3/22 at 5:02 pm
Posted on 2/3/22 at 5:12 pm to TBoy
Whatever happened to your "peak oil" canard.
Posted on 2/3/22 at 5:17 pm to Auburn1968
quote:
Whatever happened to your "peak oil" canard.
I'm sorry, what are you talking about?
Posted on 2/3/22 at 5:30 pm to Chazreinhold
Higher price of oil and war drums beating? Its the uniparty policy for keeping the money flowing into the hands of the .5% They have lots of money to make back from the declines they took during Trumps term.
Posted on 2/3/22 at 5:31 pm to Chazreinhold
Biden and his eviro cronies are hoping for 120 plus....
And force people to buy golf carts!
It is their strategy, and it is working, unfortunately.
And force people to buy golf carts!
It is their strategy, and it is working, unfortunately.
Posted on 2/3/22 at 5:35 pm to Chazreinhold
I’m not complaining!! Lots of friends making money
Posted on 2/3/22 at 5:41 pm to whiskey over ice
Sadly solid gold is too soft to be functional.
Makes great frames for the mirrors though
Makes great frames for the mirrors though
Posted on 2/3/22 at 6:46 pm to LSUconvert
Is that why Biden ordered a record-setting 50 million barrels of oil released from the nation's Strategic Petroleum Reserve? Because we are exporting so much?
Under Biden we are importing more oil than we are exporting.... idiot
Under Biden we are importing more oil than we are exporting.... idiot
Posted on 2/3/22 at 6:48 pm to TBoy
Biden:
Stop drilling in the US.
Also Biden:
Hey OPEC, we need oil. Start drilling more.
Stop drilling in the US.
Also Biden:
Hey OPEC, we need oil. Start drilling more.
Posted on 2/3/22 at 7:35 pm to TBoy
quote:
Of course right wingers don't understand any of this and are cheering for a collapse of the US production industries.
Wha?? Have you not been on here??? The Obama judge blocked the leases in the gulf, mushbrain is canceling pipelines, this entire idiot administration is hostile to energy.
You Biden morons voted for this. There is zero blame on “right wingers”. It’s ALL you. 100%. Fullll stop. Own it.
Posted on 2/3/22 at 7:50 pm to TBoy
quote:
That's why oil prices in this range and a little higher are absolutely necessary for American oil producers to do their thing.
ya know how i know you do not work in O&G??
Posted on 2/3/22 at 8:12 pm to TBoy
They can’t produce Oil when the president is holding them back . So your saying we are going to produce more oil now? Since Biden took over gas prices have went up and production went down.
Posted on 2/3/22 at 8:15 pm to TBoy
quote:
That's why oil prices in this range and a little higher are absolutely necessary for American oil producers to do their thing.
Absolutely not. Companies learned how to be profitable at $50-$60/bbl following ‘14.
This post was edited on 2/3/22 at 8:16 pm
Posted on 2/3/22 at 8:26 pm to tjv305
quote:
Since Biden took over gas prices have went up and production went down.
Gasoline prices have gone up, but domestic production hasn’t been on a decline. Nov ‘21 production was our highest since April ‘20, the month where we say oil prices “go negative”.
LINK
And while I’m not a gambler, I’d be willing to bet, short of some idiotic Covid shutdown, 2022 production will be higher than 2021.
This post was edited on 2/3/22 at 8:33 pm
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