re: Trump releases plan to defeat inflation

As op say.. oil hits below 60 … rigs start stacking.. fwiw I responded to a different op in another thread earlier..

Put some effort in it so yall could see different views.

Drill baby drill is pt Barnum yanking your chain…

From my previous post…..
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Why was gas less than $2.00 a gallon when Trump was in office and now over $3.00”
in
2019…..we had over 950 rigs on average drilling in the US… in 2020 we had on average 250 rigs drilling in the us and yes gasoline pump prices dropped to 2 bucks.. so less rigs drilling but out of norm low pump prices..so when trump left office we had 250 rigs drilling … we now have around 650 rigs drilling…..

So why were pump prices low.. opec was losing market share and wanted to put small US operators out of business so they flooded the market.. it worked …so they then could cut back their production to make sure they were happy with their market share and price… ie profits….

For us resource plays to be profitable and invest capital oil needs to be above 50-60 dolllars.. for lots of legacy opec oil they make money when oil over a few dollars.. new discoveries are a little higher..

In 2020 the oil industry was in shambles and yall were cheering trump to get those saudis to back off on production and the price of oil back up…

Ok… why do we export so much oil and import.. well our refineries are fitted for a specific quality of oil.. oil coming out of ground varies.. we export oil that is out of specs for many USrefineries .. and have to import others that is within spec..


Again it is global economics not politics.. we had an offshore lease sale last years and feds opened up most of the gulf.. oil companies bought about very small percent available that they determined had potential.. we do no frac offshore so fracking regulations mean nothing.. it takes a minimum of ten years from discovery to first oil pumped in offshore.

We can frac on private land so regulations do not stop.. I do not want them fracking on a lot of fed land myself since a lot of it is parks … I like my tent a good distance from wellheads..

Cutting regulations and slowing/stopping illegal immigration will surely have an impact.

This MF here stands in opposition of every one of these items just because Trump totes it. Liberalism is truly a mental disorder.

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drill baby drill impacts that also.. please explain .. I responded to drill baby drill..

Lmao you can’t be serious. Do you honestly think prices of goods stayed the same price for 47 years???

Also that was the Period of Reconstruction. The economy grew massively and so did the population. It went from 30 million people to 95 million.

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This MF here stands in opposition of every one of these items just because Trump totes it. Liberalism is truly a mental disorder.

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Truth

Ya, in the famous words of Phineas Taylor Barnum " There is a sucker born every minute "

He was a Yankee politician before he became a huckster.

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And the energy sector is very strong right now So I don't see any drastic improvements by changing presidents Sorry if you're foolish enough to think that will happen

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Let’s look at it like this. Energy makes the world go around right. When we were energy independent or had a surplus our economy was booming. Less regulations and less taxes made for more investments in energy and other sectors of our economy. When you strangle both you cause a net negative of deficit in trade. The Chinese are masters in using our debt that (they hold the note on) they can manipulate via currency manipulation and interest. We are producing more and getting less for it. Meanwhile we are paying Chinese induced taxes on goods received. You want inflation to soar? Do what we have been doing. It is crazy and mind blowing what is happening.

And that's negated by more money in the hands of consumers increasing demand pull. It does nothing to combat inflation.