BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
- Thread starter Swanson
- Start date
Read what Wally posted about how the Biden Administration is hamstringing the oil and gas industry by forcing banks to stop loaning to them. You can parade any jackass out to CYA Biden's butt but what's really going on is an off the rails administration trying to do to oil and gas what was done to coal so that we'll all drive electric cars and use solar panels. And here's a news flash, there's plenty of demand but not enough supply thanks to Joe Biden.
Baloney. Fracking has opened up a 200 year supply at present usage. And more technology will eventually allow even more from sources like shale.
MAKAVELI
Well-Known Member
Maybe with the Kardashians. Lol
How are those new tax proposals going to work for you? Happy to pay them?
MAKAVELI
Well-Known Member
I do just fine out here. You cuckservatives are the ones that have problems making it work out here. Lol
You haven't been hit with that new tax bill yet. Good luck!
MAKAVELI
Well-Known Member
There are many Californians that know ways around taxes or ways to make them work for you. Where there is a will there is a way.
Just like all the money injected into the ports to fix the ship problems..have you looked at all the shops waiting to portTtku 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
I hear the bacon is great...
MAKAVELI
Well-Known Member
It sure is. Daily staple for me.
Talking about Canadian shale? If you are ok with strip mining? Move there. Move to West Virginia where you're deal with the destruction . Shale might be cheap to strip mine but expensive to clean up which is why they wanted to send it to the states hoping that we can clean it up enough to burn.
Today a federal judge blocked the Biden administration's plan to begin issuing leases and permits that would open up another big portion of the Gulf of Mexico to oil drilling siding instead with an environmental group who sued to block it.
Why would you care? Why should anybody listen to what comes out of a guy who is out of the country but still expects take full advantage of all public services and social welfare programs in the future despite having not paid a cent in federal income taxes in years.
On January 15th 2022 I filed and PAYED my 2021 Q4 federal estimated income tax voucher. What did you PAY in that day? . And yet you have the audacity to demonize and condemn those who are or will soon will be receiving federal benefits....And you know something? Unlike you those people might have actually paid in something and some might have actually paid in more than you did and for a longer period of time.
The Biden Administration cannot ORDER banks to stop loaning money to oil drillers. It can try and sue to stop it but banks are perfectly capable of independently assessing the risk factors and decide independently if they are willing to back a drilling venture. How come the stock of PXD has doubled and DVN tripled in the past year?....Better supply management. Yes, the days of your cheap gas allowing you freedom to go wherever and whenever you please are coming to an end. So what do you want to do? What would you prefer? Bring back John D. Rockefeller and his Standard Oil monopoly?
DriveInDriveOut
Inordinately Right
You want a cookie, sweetheart?
Good luck!
Where have I demonized anyone? This is just nuts. And I started paying Federal taxes at 16, paid them all through my working years, into my retirement, but due to money being tight I haven't for three years. Not talking about a lot of money and eventually will get caught up. But not paying precluded me from getting stimulus checks.
But tell me, why is it whenever I point something out you go on a personal attack? Why is it you constantly make things up like demonizing people receiving benefits? Guess what, the deficit spending and money printing to pay for it is finally catching up with us. Maybe that's why you sound so shrill, your investments are getting hammered. Hope you have gotten out already or at least get out before it's too late.
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Yeah, I remember when Dems were trying to completely put 2008 on Bush but it came out about all the pressure Dodd and Frank had put on banks to lend to unqualified buyers. I bet there's all kinds of regulatory pressure the government can put on banks to make them play ball. And you know what? When a Republican wins in '24 we'll have cheaper gas although the inflation Biden has caused might keep it from getting down to Trump year prices. Everyone knows what Biden did in Afghanistan. There's video of illegal immigrants being transported by plane illegally around the country. That alone should be impeachable. And the economy is in deep kimchi. Your Democratic Green New Deal dreams are collapsing. Good luck whatever your pronoun is.
Dodd Frank was passed to clean up the mess created by Graham Leach Bliley. That fine piece of legislation crafted by Texas banker and senator Phil Graham which repealed Glass Steagall which separated merchant banks from investment banks. Well, that repeal allowed investment banks to use merchant bank deposits that being people like you and me and use our deposits on the merchant end to back stop potentially much more profitable but much higher risk investments made by the investment bank side. Well, we all saw what happened later. Dodd Frank restored a significant number of the provisions of Glass Steagall so that it doesn't happen again. Helps to explain why Graham resigned before finishing his term .
Now this AM Michael Wirth CEO of CVX was on CNBC spelling out his companies 3 objectives going forward.
1. Supply management
2. Capital and shareholder equity preservation
3.Carbon reduction.
Might help to explain why CVX stock has gone up 61% year over year. Oh, BTW CVX is raising it's dividend 6%
If you want to truly find out what's actually going on get off Fox News and get to something you can actually use like CNBC In fact CNBC is on at my house all day long. In your case that's not easy given you host country's critical shortage of the used car battery's you need to power your tent.
No, not talking about the Dodd Frank law. I'm talking about how Christopher Dodd and Barney Frank personally leaned on banks to make loans to unqualified individuals. This was discussed in detail by all the major newspapers, Washington Post, NY Times, USA Today, etc. It was the basis of the 2008 real estate collapse. Those mortgages were bundled into securities and derivatives were developed to play against them. For an explanation you might understand watch the movie "The Big Short." They weren't alone in this, a lot of players involved but as usual Dems tried to lay it all at the Republicans' feet. Christopher Dodd in particular acted on behalf of Countrywide Mortgage which was eventually convicted of mortgage fraud and was bought out by Bank of America. We're talking millions of unqualified mortgages that turned the market into a house of cards. Anyways it illustrates how Congressmen sitting on the right committees have a lot of power but it also illustrates that those same Congressmen are driven more by money than sound economic priciples.
Glass Steagall was repealed in 1999 essentially deregulating the entire banking industry . You're talking about events after 1999 that likely would not have happened had Glass Steagall had not been repealed.....BTW The Big Short is a MOVIE. A highly fictionalized movie only remotely based on the Great Recession. Dodd Frank reestablished many of GS regulations . Among them is the stress test for all banks with assets above 50 million ,separating merchant banks from investment banks and securities brokers had to become fiduciaries .
Again you aren't getting it. Has nothing to do with Dodd Frank. Has everything to do with after passing Dodd Frank those two were in a position of great power and used that power to PERSONALLY lean on banks to get them to loan to millions who were unqualified. That wasn't covered in "The Big Short" but was definitely covered by major papers who focused on who was responsible for the mess we found ourselves in. Lots of players but if any two stood out above all others it was Dodd and Frank. I remember watching when Bill O'Reilly had Frank on his show and ripped him a new one. I mean screamed at him. Yes you rip FOX all the time but you really don't know what you've missed and after watching the MSM cover for the corruption of the Clintons and Bidens you're missing a huge piece of what's going on in the world.