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Started By
Message
re: Yellen: Biden Not Responsible For High Gas Prices
Posted on 6/21/22 at 11:17 pm to Big Scrub TX
Posted on 6/21/22 at 11:17 pm to Big Scrub TX
Immediate impact lol
0
Posted on 6/21/22 at 11:22 pm to TigerAttorney
quote:What do you mean "that could be dry"? No reasonable acreage ever has dry holes anymore (outside of the random well here and there that has a technical frick up - like they drop the tools down the hole or whatever).
that could be dry and I make no profit from.
quote:How much spare production do you imagine the US has? You know there's an entire world out there, right?
His ignorant rhetoric against our energy sector is a major contributor to the mess we are in. And if the media wasn’t democrat propaganda the pressure would unbearable for him to at least be a leader.
Posted on 6/21/22 at 11:23 pm to TJG210
quote:The only one of those that is concrete and might make a difference at the margin is finding a way to get banks more back in the game - and institutional investors back into traditional energy.
1. Postpone renewable energy goals farther down the road to increase capex budgets/banks willingness to finance such projects
2. Green light pipelines
3. Cut down on regulatory hoops that are unnecessary he’s implemented
4. Conduct lease sales
Posted on 6/21/22 at 11:24 pm to TJG210
quote:All of that pales in comparison to their poor risk and balance sheet management during the frack boom.
The same one that has lost billions due to the governments idiotic shutdowns?
quote:What kind of wells are you talking about? I'm signing up wells monthly and having them go live in 1-3 months (depending on labor/equpiment).
Why invest in a capex project that may be 6-8yrs before payoff when these dummies want to crater the industry? He’s fricking said as much.
Posted on 6/21/22 at 11:25 pm to Big Scrub TX
quote:
No reasonable acreage ever has dry holes anymore (outside of the random well here and there that has a technical frick up - like they drop the tools down the hole or whatever).
Now I know you definitely have no fricking clue of what you’re talking about.
Posted on 6/21/22 at 11:27 pm to Big Scrub TX
quote:
What kind of wells are you talking about? I'm signing up wells monthly and having them go live in 1-3 months (depending on labor/equpiment).
Not talking about some piddly onshore well that’s for sure.
Posted on 6/21/22 at 11:47 pm to TJG210
we dont have an oil supply problem, we have an oil refining problem
US production is getting more sour by the day, causing bottlenecks at the refineries
biden’s policies and rhetoric made it easy for companies to close refineries instead of retrofitting them
US production is getting more sour by the day, causing bottlenecks at the refineries
biden’s policies and rhetoric made it easy for companies to close refineries instead of retrofitting them
This post was edited on 6/21/22 at 11:49 pm
Posted on 6/21/22 at 11:48 pm to Big Scrub TX
quote:
The only one of those that is concrete and might make a difference at the margin is finding a way to get banks more back in the game - and institutional investors back into traditional energy.
Might?
You even admitted it earlier in this thread: oil need investment capital and it had always needed investment capital. When the “leader” of the free world tells that world he’s going to end domestic oil, what the frick do you think people with investment capital do? Rush to invest it in an industry the federal government just declared war on? This is a return timetable measured in DECADES. Not months, not years, decades. So when the individual with the most influence over that return announces that he wants it to be zero, investors take their money elsewhere.
This isn’t that complicated. Is the situation aggravated by world events? Of course, but that’s nothing new. What’s new is a president telling an entire industry he’s gunning for them. What’s also new is retards pretending that announcement just didn’t have much of an impact.
Posted on 6/21/22 at 11:52 pm to Flats
truth 
Posted on 6/22/22 at 12:02 am to Auburn1968
Also Yellin “Inflation is transitory”
Posted on 6/22/22 at 12:25 am to TJG210
quote:Right back at you. Modern horizontals are much more akin to manufacturing and much less akin to wildcatting of old. I was with a very storied operator in West Texas a few months ago and I pressed them to list all the dry holes they had drilled over the past 25 years. Literally zero. It's just not a thing anymore unless you are in very peripheral territory with no offsets. And even then, the seismic and other analysis should be good enough to guarantee it's not dry.
Now I know you definitely have no fricking clue of what you’re talking about.
Posted on 6/22/22 at 12:31 am to Flats
quote:Nobody - and I mean literally nobody - thinks POTUS is going to do that or even has the power to do such. People on here like to pull for a civil war - well, telling Texas that there's no more drilling, even on private land, would be a surefire way to have one. It just ain't happening.
When the “leader” of the free world tells that world he’s going to end domestic oil,
quote:The smart ones are rushing to do as much as they can. Traditional energy right now is without question the best risk-adjusted investment in the entire market.
what the frick do you think people with investment capital do
quote:That's partially true. There's massive amounts of proven acreage yet to be drilled that can be flowing in the short to medium term.
This is a return timetable measured in DECADES.
quote:Again, that's simply nonsensical. No POTUS ever has that much influence over energy returns.
So when the individual with the most influence over that return
quote:It doesn't. The majority of the impact is from past industry misbehavior/incompetence and then the effects of the pandemic on supply and demand (of energy itself, labor and materials).
This isn’t that complicated. Is the situation aggravated by world events? Of course, but that’s nothing new. What’s new is a president telling an entire industry he’s gunning for them. What’s also new is retards pretending that announcement just didn’t have much of an impact.
You seem to be taking this as some defense of Biden. It isn't. He's a miserable shithead. The hypocrisy on the domestic pipeline vs Nordstream is absurd. The pretense that we'll be all EV by 2035 or whatever is ridiculous. But we could put Trump back in tomorrow with a congress that was 100% Trump people and the impact would just not be very much. Would oil maybe react down too $90? Sure, maybe.
The thing that's most likely to make prices go down materially is a severe recession that destroys demand. And I don't think anybody wants that either. I find the states way more to blame - just look at the crazy shite Inslee has been saying in WA.
Posted on 6/22/22 at 12:33 am to supatigah
quote:This I agree with way more. Refined products worldwide are increasingly defining the bottleneck. But even in this case, it's a world problem. Sure, it would be great if we had more retrofit refineries, but we can't make Germany do it.
we dont have an oil supply problem, we have an oil refining problem
US production is getting more sour by the day, causing bottlenecks at the refineries
biden’s policies and rhetoric made it easy for companies to close refineries instead of retrofitting them
Posted on 6/22/22 at 1:59 am to Big Scrub TX
quote:
Modern horizontals are much more akin to manufacturing and much less akin to wildcatting of old.
Again I’m not talking about some piddly small wells.
Posted on 6/22/22 at 2:02 am to Big Scrub TX
quote:
Again, that's simply nonsensical. No POTUS ever has that much influence over energy returns.
The number of banks lending for oil and gas has shrunk dramatically. Most of it being a combo of the esg nonsense and the democrats (Biden) desire to end fossil fuel production.
Posted on 6/22/22 at 4:11 pm to Speckhunter2012
quote:
No hijack meant but I will take the bait.
How does Sulfur form? How does magma and lava form? How does gold, silver, copper and iron form? Why are dinosaur and algae/sea plankton fossils found yet there is no oil there?
Reports are that some of the older wells produced more oil than expected and they are somehow finding new oil in these places? Hydrocarbons are naturally occurring elements. How is it they cannot be created naturally in the earths mantle as so many other elements are?
Asking a bunch of questions as if to make a point is what conspiracy theorists do.
It’s very widely accepted science that fossil fuels are created over long periods of time due to bio material being exposed to heat and pressure.
Is the earth still making it? Sure. But it’s like baking a cake that takes thousands/millions of years to cook. So we’re consuming it at a rate faster than it can be produced.
Oil is waaaaay different than the elemental metals you reference. Those are more finite and not formed on Earth.
This post was edited on 6/22/22 at 4:12 pm
Posted on 6/22/22 at 5:00 pm to mwade91383
quote:
Even if Biden got on his hands and knees for the O&G folks, they’re still selling whatever they produce at market price (and not just to us, to whoever is buying)
You know why Yellen et al have to keep saying this stuff?
Because everyone knows it's his/their fault.
Sorry, you can deflect and obfuscate all you want but the fact is democrats are taking the blame for the shite show we are in.
Democrats control everything currently and take the blame for nothing.
Keep telling yourself the garbage you are spewing it is helping nothing.
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