BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
- Thread starter Swanson
- Start date
Babagounj
Strength through joy
I'm confused by how Biden can guarantee Europe heating fuels should Russia cut off supplies.
He took the USA from being a fuel exporting country to being an importing one in less than one year.
Where will these promised new supplies be coming from ?
Our emergency fuel reserves ?
He took the USA from being a fuel exporting country to being an importing one in less than one year.
Where will these promised new supplies be coming from ?
Our emergency fuel reserves ?
UnionStrong
Sorry, but I don’t care anymore.
It’s the dismantling of America before your very eyes.
Pretty sure the Europeans know this too. Any saber rattling by Biden is just for show. In the end Ukraine is going to either be carved up or a new government beholden to Moscow will be installed. Or both.
Lineandinitial
Legio patria nostra
He’s assuming the world has dementia like he does and will forget every empty lie he’s told…
MAKAVELI
Well-Known Member
Ttku Wally.
U.S. oil production set to increase further in 2022, energy expert Dan Yergin says
U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies "running the show," said oil expert Daniel Yergin.
Just like all the money injected into the ports to fix the ship problems..have you looked at all the shops waiting to port still in California?Ttku Wally.
U.S. oil production set to increase further in 2022, energy expert Dan Yergin says
U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies "running the show," said oil expert Daniel Yergin.www.cnbc.com
MAKAVELI
Well-Known Member
Big problems don't get fixed overnight. All the experts have said the ports will take time to get caught up. Omicron has just piled on to that problem.
Wally
BrownCafe Innovator & King of Puns
Lol, first key point they list: OPEC is running the show. Biden is in charge and loves high energy prices.Ttku Wally.
U.S. oil production set to increase further in 2022, energy expert Dan Yergin says
U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies "running the show," said oil expert Daniel Yergin.
UnionStrong
Sorry, but I don’t care anymore.
Considering that the US consumes 18.9 million barrels a day, 900k isn’t much. 1 hr?Ttku Wally.
U.S. oil production set to increase further in 2022, energy expert Dan Yergin says
U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies "running the show," said oil expert Daniel Yergin.
BS article
Wally
BrownCafe Innovator & King of Puns
Biden’s renewable energy rush is making gas prices skyrocket
Biden and the Democrats’ plan to slowly suffocate the oil and gas industry will make all Americans worse off.
thehill.com
@MAKAVELI Looks like Wally is keeping up.Biden’s renewable energy rush is making gas prices skyrocket
Biden and the Democrats’ plan to slowly suffocate the oil and gas industry will make all Americans worse off.
Babagounj
Strength through joy
If Biden really wanted to help decrease fuel prices, he should be spending his time having the Jones Act abolished.
The Jones Act ( 1920 ) requires that only US ships move cargo between US Ports.
The US has no LNG ships, they are all foreign flagged vessels.
So cheap LNG on the Gulf Coast is not available to other parts of the US , instead they have to buy their supplies from the World Markets.
The Jones Act ( 1920 ) requires that only US ships move cargo between US Ports.
The US has no LNG ships, they are all foreign flagged vessels.
So cheap LNG on the Gulf Coast is not available to other parts of the US , instead they have to buy their supplies from the World Markets.
Wally
BrownCafe Innovator & King of Puns
Why no US LNG ships?? Must be no money in it?
zubenelgenubi
I'm a star
Scuttlebutt is that the administration is quietly easing restrictions on leases on federal lands to increase domestic production.
In 2021 the US Department of Energy issued 4881 onshore drilling permits compared to 4631 in 2020. US Department of Energy now has more than 9,000 approved on shore and off shore drilling permits there for the taking.
So why do they still sit there? Oil that isn't cheap to get at and the current price isn't high enough.
Scott Sheffield make something abundantly clear a few weeks ago on CNBC. He pointed to the fact that the industry has undergone 3 price collapses in the past 11 years with the worst being 2 years ago when crude oil went to NEGATIVE 35 bucks barrel . He went on to explain that these price collapses will never be allowed happen again . Their sole focus now is to restore and preserve stakeholder equity.
Problem with you free market capitalists is that you're all fair weather free market capitalists. As long as free market supply and demand forces are tipped in your favor, capitalism is the greatest thing in the world....but not so much when they don't and there's no guarantee that they will always be in your favor.
So why do they still sit there? Oil that isn't cheap to get at and the current price isn't high enough.
Scott Sheffield make something abundantly clear a few weeks ago on CNBC. He pointed to the fact that the industry has undergone 3 price collapses in the past 11 years with the worst being 2 years ago when crude oil went to NEGATIVE 35 bucks barrel . He went on to explain that these price collapses will never be allowed happen again . Their sole focus now is to restore and preserve stakeholder equity.
Problem with you free market capitalists is that you're all fair weather free market capitalists. As long as free market supply and demand forces are tipped in your favor, capitalism is the greatest thing in the world....but not so much when they don't and there's no guarantee that they will always be in your favor.
DELACROIX
In the Spirit of Honore' Daumier
“...
zubenelgenubi
I'm a star
Lol. Policy decisions mess up the free market, so clearly the free market is to blame. Smh.
Wrong. Nothing to do in this case with domestic policy. The industry has had enough with violent swings in oil prices. They have learned to discipline themselves in their own interest and the interest of their stakeholders. After drilling for oil for more than a hundred years the cheaply recovered oil is gone. What is there is costlier to get. Helps to explain the move to renewables with the hope that true energy independence can be attained without having to worry about whether an increasingly expensive hole drilled in the ground will yield .