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re: United States Oil Production by Month
Posted on 3/4/22 at 2:12 pm to Korkstand
Posted on 3/4/22 at 2:12 pm to Korkstand
quote:
And correct me if I'm wrong, but couldn't they boost production faster than they are, but they are taking their time mostly because they got burned last time with the "drill baby drill" approach?
Exactly. They are afraid to respond aggressively and meet demand because of Biden threats and history of saying he will put massive restrictions on the oil industry.
Anyone ignoring that is willfully ignorant
0
Posted on 3/4/22 at 2:24 pm to cubsfan5150
My bad. I'll correct. So the chart shows we are currently producing more now than anytime in history save for 18 months during the trump presidency.
November 2018-April 2020 we produced more per day than we are producing now.
So we are producing more now than we did for the majority of trump's presidency. And it's trending up.
November 2018-April 2020 we produced more per day than we are producing now.
So we are producing more now than we did for the majority of trump's presidency. And it's trending up.
Posted on 3/4/22 at 2:36 pm to JohnnyKilroy
quote:
My bad. I'll correct. So the chart shows we are currently producing more now than anytime in history save for 18 months during the trump presidency. November 2018-April 2020 we produced more per day than we are producing now. So we are producing more now than we did for the majority of trump's presidency. And it's trending up.
The progressive mind can’t be reasoned with. You have a mental disorder and you should seek help.
But do come back in 6 months when gas is $6-$7 a gallon so you can tell us how it’s all because Russia invaded Ukraine
Posted on 3/4/22 at 2:51 pm to WaWaWeeWa
quote:
The progressive mind can’t be reasoned with. You have a mental disorder and you should seek help.
Can you explain to me how 10,369,230 is 10% LESS than 10,310,250?
Maybe it's a mental disorder but I was under the impression that 10,369,230 is actually more than 10,310,250.
Posted on 3/4/22 at 2:59 pm to JohnnyKilroy
quote:
The progressive mind can’t be reasoned with. You have a mental disorder and you should seek help.
quote:
Can you explain to me how 10,369,230 is 10% LESS than 10,310,250?
Maybe it's a mental disorder but I was under the impression that 10,369,230 is actually more than 10,310,250.
lmfao this is gold
Posted on 3/4/22 at 3:07 pm to JohnnyKilroy
quote:
Can you explain to me how 10,369,230 is 10% LESS than 10,310,250? Maybe it's a mental disorder but I was under the impression that 10,369,230 is actually more than 10,310,250.
Where are you pulling these numbers from?
Posted on 3/4/22 at 3:10 pm to WaWaWeeWa
From the macrotrends link.
The average barrels os us crude produced per day under trump is 10,310,250. Under Biden it has been 10,369,230.
You claimed we produced 10% less now than we did under trump. You also claimed that we import 10% of our crude from Russia lmao.
The average barrels os us crude produced per day under trump is 10,310,250. Under Biden it has been 10,369,230.
You claimed we produced 10% less now than we did under trump. You also claimed that we import 10% of our crude from Russia lmao.
Posted on 3/4/22 at 3:22 pm to JohnnyKilroy
quote:
You also claimed that we import 10% of our crude from Russia lmao
His other point was incorrect but he's right about importing 10% from Russia yet we maybe looking at ban on Russian oil here in the not too distant future.
quote:
Oil prices continue to inch higher, with new reports that the White House is considering a ban on Russian crude oil.
quote:
On Thursday, the White House had tersely dismissed the idea of banning Russian crude oil imports, pointing out that doing so could cause oil and gasoline prices to rise even more than they already had.
quote:
On the other hand, White House Press Secretary Jen Psaki downplayed the role Russian crude oil plays in the United States, adding that it only makes up 10% of the total crude oil that the United States imports.
But by Friday, the White House’s take on banning Russian crude oil softened.
The Biden Administration is now said to be looking at what can be done immediately to make up for Russian crude oil, should they take that route, White House Council of Economic Advisors chair Cecilia Rouse said on Friday.
quote:
The United States imported 12.5 million barrels—or 405,000 bpd--of Russian crude oil and crude oil products in December, according to the Energy Information Administration’s latest monthly data. For straight Russian crude oil, the United States imported 90,000 bpd.
LINK
Posted on 3/4/22 at 3:28 pm to JohnnyKilroy
quote:
So according to these charts, the US is producing more oil now than anytime in history outside of 6 months during the trump presidency?
That's what it looks like. Seems that the pandemic drop is getting erased also.
Posted on 3/4/22 at 3:29 pm to BigBrod81
Psaki is wrong.
Russia made up about 3% of our crude imports in 2021
Russia made up about 3% of our crude imports in 2021
Posted on 3/4/22 at 4:32 pm to JohnnyKilroy
quote:
From the macrotrends link. The average barrels os us crude produced per day under trump is 10,310,250. Under Biden it has been 10,369,230.
You are playing games with numbers. Look at the chart below
But let’s just use your assumption that we are producing more oil right now than ever. Why is gas double what it was under trump?
I know the answer but I want to see what you say first
Posted on 3/4/22 at 4:35 pm to WaWaWeeWa
You are clueless about the oil and gas industry. Using your logic, Obama was the GOAT energy president as the shale revolution occurred during his time in office.
Posted on 3/4/22 at 4:42 pm to mattz1122
quote:
You are clueless about the oil and gas industry. Using your logic, Obama was the GOAT energy president as the shale revolution occurred during his time in office.
You are clueless about economics.
Oil and gas is just like any commodity.
The production charts only tell half the story. The idea that gas will be scarce in the future makes speculators want to lock in prices now, that drives up demand and increases prices
Biden’s hardline stance on oil and gas and green energy bullshite is directly responsible for that. He has stated many times he wants to ban drilling and he shut down keystone on day 1. It’s not just about the impacts on production. It’s the impacts on the perception of supply and demand.
Posted on 3/4/22 at 4:44 pm to WaWaWeeWa
Futures contracts are locked in literally months in advance.
It takes years to bring a new oil and gas lease on production.
Why don’t you break down the new regs for us that are constraining current production?
It takes years to bring a new oil and gas lease on production.
Why don’t you break down the new regs for us that are constraining current production?
This post was edited on 3/4/22 at 4:45 pm
Posted on 3/4/22 at 4:46 pm to WaWaWeeWa
quote:
You are playing games with numbers. Look at the chart below
Holy shite dude I added up the 48 months of production during Trump's term and divided by 48.
I then added up the 13 months of data we have for Biden's term and divided by 13.
How am I playing with the numbers?
Posted on 3/4/22 at 4:49 pm to mattz1122
quote:
Futures contracts are locked in literally months in advance.
I’m aware of that. The price of oil has been steadily increasing since Biden took office. I never claimed this problem started last week.
What’s your explanation? The economy isn’t even to pre pandemic levels, we still are missing millions of jobs, and we are producing just as much as we were under trump according to Johnny…. So why has gas doubled in price?
Posted on 3/4/22 at 4:51 pm to JohnnyKilroy
quote:
How am I playing with the numbers?
I’m not entertaining your psychopathy. Everyone can look at the graph and then at your numbers and make up their mind.
But why don’t you tell me why gas is double if production is the same like you say?
Posted on 3/4/22 at 4:53 pm to WaWaWeeWa
quote:
Everyone can look at the graph and then at your numbers and make up their mind.
The numbers come straight from the graph. Seriously tell me where I'm playing with the numbers
Posted on 3/4/22 at 4:56 pm to WaWaWeeWa
Supply. Both Western producers and OPEC aren’t producing like they were pre-2020. For public Western companies, there’s pressure from shareholders to forgo growth to increase dividends and pay down debt. The industry historically has done neither, and investors revolted. Companies need financing to grow production, so they listen to financiers. OPEC is still tight on the spigots given that they don’t completely trust the fundamentals after supply was bountiful for most of the last decade. Meanwhile, demand has grown continually since the beginning of the pandemic.
This post was edited on 3/4/22 at 5:06 pm
Posted on 3/4/22 at 5:01 pm to mattz1122
quote:
For public Western companies, there’s pressure from shareholders to forgo growth to increase dividends and pay down debt. The industry historically has done neither, and investors revolted. Companies need financing to grow production, so they listen to financiers.
This is something many people gloss over and driving a lot of the behavior we’re seeing right now. Access to capital for O&G is absolute shite right now and the CoC is higher than I’ve seen it in a long time.
This post was edited on 3/4/22 at 5:01 pm
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