Gas Prices

[Babagounj]

Another bloodbath on wall street for the oil companies as the price of oil hits new lows and sits at 26 dollars a barrel 3 hours before the close.

After ripping off the American consumer for 8 years under BUSH, the oil companies are getting a giant payback by the world. With higher MPG cars and trucks, alternative energy and alternative energy vehicles ( as obama called for in 2009) the world has responded and the glut of oil continues to build.

Look at this chart, under GW BUSH, operating wells in the USA were kept at a minimum in order to keep prices skyhigh as BUSH told us the world was at "PEAK OIL" and all wells operating at 99.9% of capacity.

Under President Obama, starting in 2009, his "use it or lose it" executive order increased the number of producing wells in the USA and the build up of oil reserves began.

In 2015, take a look at how the oil companies are conspiring to SHUT DOWN WELLS and try to stave off the collapse of high oil prices.

Oil today is sitting where it should have been since Bill Clinton, and its clear how republican policies affect oil prices and screw consumers.

No matter what the USA oil companies are doing, the price of oil continues to plummet.

I could care less about the oil companies or what they claim they are losing. In reality, the only thing they are losing is the OUTRAGEOUS profits they have been reaping since BUSH took oil from 24 dollars a barrel to 150 dollars a barrel.

TOS.

But it's Bush's friend the Saudis who are driving this bust .
Could it all be a ploy to get Jeb in office ?

 

[Brownslave688]

Another bloodbath on wall street for the oil companies as the price of oil hits new lows and sits at 26 dollars a barrel 3 hours before the close.

After ripping off the American consumer for 8 years under BUSH, the oil companies are getting a giant payback by the world. With higher MPG cars and trucks, alternative energy and alternative energy vehicles ( as obama called for in 2009) the world has responded and the glut of oil continues to build.

Look at this chart, under GW BUSH, operating wells in the USA were kept at a minimum in order to keep prices skyhigh as BUSH told us the world was at "PEAK OIL" and all wells operating at 99.9% of capacity.

Under President Obama, starting in 2009, his "use it or lose it" executive order increased the number of producing wells in the USA and the build up of oil reserves began.

In 2015, take a look at how the oil companies are conspiring to SHUT DOWN WELLS and try to stave off the collapse of high oil prices.

Oil today is sitting where it should have been since Bill Clinton, and its clear how republican policies affect oil prices and screw consumers.

No matter what the USA oil companies are doing, the price of oil continues to plummet.

I could care less about the oil companies or what they claim they are losing. In reality, the only thing they are losing is the OUTRAGEOUS profits they have been reaping since BUSH took oil from 24 dollars a barrel to 150 dollars a barrel.

TOS.

You really have a hard time with the fact that this has NOTHING to do with Obama or US oil companies do you.

 

[Babagounj]

You really have a hard time with the fact that this has NOTHING to do with Obama or US oil companies do you.

TOS never let's facts spoil TOS' reality .

 

[MAKAVELI]

You really have a hard time with the fact that this has NOTHING to do with Obama or US oil companies do you.

So when Iran is able to export its oil due to the lifting of sanctions and drive the price even lower, it still has nothing to do with Obama? Or the fact that the US is producing the most oil in its history, under Obama, adding to the glut?

 

[Brownslave688]

So when Iran is able to export its oil due to the lifting of sanctions and drive the price even lower, it still has nothing to do with Obama? Or the fact that the US is producing the most oil in its history, under Obama, adding to the glut?

The first one sure forgot about Iran. Lets not even open that can of worms.


But us oil no. Even if we weren't producing more it wouldn't make much difference. We found a new way to get oil. That's why us production is up.

 

[MAKAVELI]

The first one sure forgot about Iran. Lets not even open that can of worms.


But us oil no. Even if we weren't producing more it wouldn't make much difference. We found a new way to get oil. That's why us production is up.

We found a way that is more expensive when demand is getting lower and lower. Oil is a dying commodity just face it the future of energy is not oil.

 

[Brownslave688]

If you want to give Obama credit for the low oil prices you also have to blame him for the stock market tanking...

 

[Brownslave688]

We found a way that is more expensive when demand is getting lower and lower.

Actually it's kind of a yoyo but overall demand is still trending up.


This is simply a supply issue.

 

[MAKAVELI]

If you want to give Obama credit for the low oil prices you also have to blame him for the stock market tanking...

That would mean you would have to give him credit for when it was at record levels.

 

[Brownslave688]

That would mean you would have to give him credit for when it was at record levels.

Explain that logic because one does not equal the other.

 

[MAKAVELI]

Explain that logic because one does not equal the other.

The logic is if you're going to blame him you also have to give him credit.

 

[Brownslave688]

The logic is if you're going to blame him you also have to give him credit.

You can only blame and give credit if both are directly related.


Oil and the stock market are intertwined at the moment. The stock market highers were not directly related to oil in the same way.


So no one does not equal the other.

 

[MAKAVELI]

You can only blame and give credit if both are directly related.


Oil and the stock market are intertwined at the moment. The stock market highers were not directly related to oil in the same way.


So no one does not equal the other.

I never stated that oil was the reason for the record highs but you have to give credit when the stock market is high if you're going to blame them when its low. Oil might be intertwined with the market at the moment but that's not the only reason for stock market dropping.

 

[Brownslave688]

I never stated that oil was the reason for the record highs but you have to give credit when the stock market is high if you're going to blame them when its low. Oil might be intertwined with the market at the moment but that's not the only reason for stock market dropping.

Personally I think we give presidents way too much credit for the economy wether good or bad. I think usually it takes about a decade after their presidency to actually look back and see how their policies effected us.


It's impossible to make claims in a real time view on that scale.

 

[The Other Side]

Why does the U.S.Navy still use bio-fuels for their ships ?
I don't buy their claim of breaking away from dependence on foreign oil .

I wouldnt worry about it, the government surely isnt going to ask a guy in his trailer park whether he believes it or not.

TOS.

 

[Brownslave688]

Why does the U.S.Navy still use bio-fuels for their ships ?
I don't buy their claim of breaking away from dependence on foreign oil .

Why is our fuel still 10% ethonal?

 

[oldngray]

Why is our fuel still 10% ethonal?

Because people are fighting to stop it from going to 15%.

 

[bbsam]

You really have a hard time with the fact that this has NOTHING to do with Obama or US oil companies do you.

Obama's foreign policy in the Middle East may have a lot to do with it.
It's being reshaped and it's ugly but exactly why did we insist on calling Saudi Arabia friends for so long? Israel and Saudi Arabia may just end up like Egypt and Israel--not best pals, but not seeking each other's destruction. That's playing a huge role in oil prices.

I heard a funny bit the other day. The American stock market has correctly predicted exacaly 9 of the last 5 recessions.

 

[Babagounj]

http://money.cnn.com/2016/02/11/investing/oil-prices-bankruptcies-spike/index.html
Bankruptcy filings are flying in the American oil patch.
At least 67 U.S. oil and natural gas companies filed for bankruptcy in 2015, according to consulting firm Gavin/Solmonese.

That represents a 379% spike from the previous year when oil prices were substantially higher.

With oil prices crashing further in recent weeks, five more energy gas producers succumbed to bankruptcy inthe first five weeks of this year, according to Houston law firm Haynes and Boone.

"It looks pretty bad. We fully anticipate it's only going to get worse," said Buddy Clark, a partner at Haynes and Boone and 33-year veteran in the energy finance space

 

[The Other Side]

http://money.cnn.com/2016/02/11/investing/oil-prices-bankruptcies-spike/index.html
Bankruptcy filings are flying in the American oil patch.
At least 67 U.S. oil and natural gas companies filed for bankruptcy in 2015, according to consulting firm Gavin/Solmonese.

That represents a 379% spike from the previous year when oil prices were substantially higher.

With oil prices crashing further in recent weeks, five more energy gas producers succumbed to bankruptcy in the first five weeks of this year, according to Houston law firm Haynes and Boone.

"It looks pretty bad. We fully anticipate it's only going to get worse," said Buddy Clark, a partner at Haynes and Boone and 33-year veteran in the energy finance space

WOOHOO!

Finally, payback for the 8 years of BUSH where they screwed the american consumer!

TOS.