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Started By
Message
re: Biden caused this Fuel Crisis. Period.
Posted on 3/8/22 at 2:58 pm to Chazreinhold
Posted on 3/8/22 at 2:58 pm to Chazreinhold
What better at to support the green energy initiative than to make gas eleventy dollars a barrel? Green too expensive? How about now?
Shady AF.
Shady AF.
1
Posted on 3/8/22 at 3:00 pm to Caraway Rye
quote:
If only it was $65 a barrel
No one would complain
Agreed but a lot of these oil fields are on private lands. They only start the pumps back up when crude goes significantly over their breakeven point(s).
It's not like the US Govt. has a damn thing to do with this other than the leases.
The lucrative leases are actually under water because the water pressure actually crushes the earths crust and they only have to drill through half as much bedrock to reach the fields.
Posted on 3/8/22 at 3:01 pm to touchdownjeebus
quote:
Green too expensive?
That's not entirely the problem. Green is mostly a net loss on energy at this point. The only one that really makes sense is hydroelectric and I don't see them building a lot of dams.
Posted on 3/8/22 at 3:01 pm to Chazreinhold
I’m just thankful the mean tweets have stopped!
This post was edited on 3/8/22 at 4:05 pm
Posted on 3/8/22 at 3:02 pm to 197603apf
quote:
Oil is profitable at $31-$33 bbl in the Permian.
Maybe for a handful of operators on excellent acreage, but the vast majority of wells and operators in the Permian float between 50-65 to break even.
Posted on 3/8/22 at 3:02 pm to hubertcumberdale
Remember, Obama tried to impose an all out Gulf moratorium after the BP spill and lost in court. His hands were kinda tied after that, but much of the rhetoric was centered around fracking at that point in time. This accounted for nearly all of the production growth during the Obama years. Lets not pretend Obama was friendly to fracking.
Posted on 3/8/22 at 3:03 pm to hubertcumberdale
quote:
Well ya see, in April 2020 oil was -$40/bbl and many operators shut in production. Who was president then? Did it even matter? What happened after 2010 in the Obama admin that started ramping production? Did it have anything to do with the Obama admin or hydraulic fracturing?
This is what I can tell you. Biden made it one of his top campaign promises to ban (or phase out) oil and gas drilling and fracking. It’s what he said. He said this while O&G had seen a sharp decrease in demand for many months and a very low price. You know what happened? Investment dried up.
His admin is still pushing electric cars to this day. They have been as open with us as possible about destroying the O&G industry. Again, they dated their intentions.
So let’s please stop with Obama this Trump that, Biden straight up said he would kill the industry, damn the consequences. The consequences were laid out for him, this isn’t a shock to those that we’re paying attention. And here we are. Still stuck with their dumbass line about buying electric vehicles, obviously not anticipating they would ever be holding the ball so quickly. No, he doesn’t get a fricking pass, he campaigned on this.
Posted on 3/8/22 at 3:03 pm to hubertcumberdale
quote:
Well ya see, in April 2020 oil was -$40/bbl and many operators shut in production. Who was president then? Did it even matter? What happened after 2010 in the Obama admin that started ramping production? Did it have anything to do with the Obama admin or hydraulic fracturing?
Don't be obtuse. You know damn well that production dropped in March 2020 due almost 100% to covid. We were under 9000 before Trump took office and peaked around 13K before Covid hit. Also 2012+ was to boom in fracking/shale that finally made it profitable to extract. Hardly Obama's doing in fact he tried to kill it before he left office and that is the dip you see in 2015-2017.
Posted on 3/8/22 at 3:04 pm to Vacherie Saint
quote:
Remember, Obama tried to impose an all out Gulf moratorium after the BP spill and lost in court. His hands were kinda tied after that, but much of the rhetoric was centered around fracking at that point in time. This accounted for nearly all of the production growth during the Obama years. Lets not pretend Obama was friendly to fracking.
I guess that is my point, the private sector has way more control over US oil production than the sitting president does
Posted on 3/8/22 at 3:07 pm to OceanMan
quote:
his is what I can tell you. Biden made it one of his top campaign promises to ban (or phase out) oil and gas drilling and fracking. It’s what he said. He said this while O&G had seen a sharp decrease in demand for many months and a very low price. You know what happened? Investment dried up.
Investment dried up bc oil and gas companies lied to investors for years about the profitability of shale wells post 2014 oil market meltdown and lost an absurd amount of money.
Posted on 3/8/22 at 3:07 pm to UAinSOUTHAL
Much of Bakken and Eagle Ford were discovered around the same time while Obama was getting into office right? Those are 2 of the biddest 3 shale pays in the US.
Posted on 3/8/22 at 3:09 pm to UAinSOUTHAL
quote:
Hardly Obama's doing in fact he tried to kill it before he left office and that is the dip you see in 2015-2017.
I am arguing that the president has little to do with US production, as production growth took off under Obama thanks to hydraulic fracturing.
Also, production dipped 2015-2017 due to the collapse of oil prices following the November 2014 OPEC meeting where decided to flood the world with oil
Posted on 3/8/22 at 3:11 pm to hubertcumberdale
Sure. But lets not act like policy doesnt matter. Obama tried to regulate fracking into extinction and the courts shot him down on that too. Its not like he didnt try to kill O&G on multiple levels. He just wasnt successful.
Policy makes a huge difference, and we are seeing a lot of that play out now. Would fuel be $2 per gallon if Trump were still in office? No. Would it be 4+$? No.
Policy makes a huge difference, and we are seeing a lot of that play out now. Would fuel be $2 per gallon if Trump were still in office? No. Would it be 4+$? No.
Posted on 3/8/22 at 3:14 pm to Chazreinhold
Let’s simply agree on what many America First patriots have determined over the past 5-6 years. There’s a significant portion of our society that’s so invested in their hopes for a Green Marxist Utopia they must reject sane and rational thought processes because it’s an impediment to their end goal.
Posted on 3/8/22 at 3:15 pm to Vacherie Saint
quote:
Policy makes a huge difference, and we are seeing a lot of that play out now. Would fuel be $2 per gallon if Trump were still in office? No. Would it be 4+$? No.
What specifically would Trump have been able to do by today that would have increased US oil production and reduced gasoline prices? Gasoline prices are high all over the world (the US has some of the cheapest gasoline prices in the world). I can understand Keystone XL, but that wasnt supposed to be finished until 2023 at the earliest estimation.
quote:
Country Last Previous Reference Unit
Indonesia 0.53 0.53 Feb/22 USD/Liter
Saudi Arabia 0.62 0.62 Feb/22 USD/Liter
Russia 0.65 0.66 Feb/22 USD/Liter
United States 0.87 0.87 Jan/22 USD/Liter
Argentina 0.92 0.86 Feb/22 USD/Liter
China 0.94 0.9 Jan/22 USD/Liter
Turkey 1.04 0.9 Jan/22 USD/Liter
Mexico 1.11 1 Feb/22 USD/Liter
Australia 1.19 1.15 Jan/22 USD/Liter
Brazil 1.27 1.24 Feb/22 USD/Liter
Canada 1.27 1.17 Feb/22 USD/Liter
India 1.27 1.27 Feb/22 USD/Liter
South Africa 1.31 1.26 Feb/22 USD/Liter
South Korea 1.46 1.37 Feb/22 USD/Liter
Japan 1.48 1.43 Jan/22 USD/Liter
Spain 1.85 1.75 Feb/22 USD/Liter
Switzerland 1.97 1.98 Jan/22 USD/Liter
Singapore 2 1.93 Feb/22 USD/Liter
United Kingdom 2.01 1.96 Feb/22 USD/Liter
France 2.1 2.02 Feb/22 USD/Liter
Germany 2.1 1.97 Feb/22 USD/Liter
Italy 2.23 2.12 Feb/22 USD/Liter
Netherlands 2.41 2.32 Feb/22 USD/Liter
Posted on 3/8/22 at 3:15 pm to hubertcumberdale
quote:
Investment dried up bc oil and gas companies lied to investors for years about the profitability of shale wells post 2014 oil market meltdown and lost an absurd amount of money.
The future president also said he would shut the damn industry down. You don’t believe that caused people to walk away from an industry that is in the tank
Again - he said he wanted the industry shut down in the US. The guy that’s the president now. Now nobody wants me to invest in a wildly volatile market.
I cannot see how anyone could absolve him from responsibility when. He accepted the blame when he accepted the consequences.
Posted on 3/8/22 at 3:17 pm to hubertcumberdale
quote:
I am arguing that the president has little to do with US production, as production growth took off under Obama thanks to hydraulic fracturing.
Fracking boomed in spite of Obama. Thats what he's trying to tell you. He tried to freeze gulf production and he tried to regulate fracking out of existence, and if not for courts, he'd have none of these results.
How can you even argue that the body that regulates environmental concerns, labor, public lands, public water, air quality, trade, and taxes can't impact O&G production? Thats a laughable assertion.
Posted on 3/8/22 at 3:18 pm to Chazreinhold
quote:
They operate at low prices and give Americans an extremely prosperous life
More blatant oil propaganda, they’re making record profits while you struggle.
The bootlicking of oil companies around here is incredible.
Posted on 3/8/22 at 3:18 pm to hubertcumberdale
quote:
What specifically would Trump have been able to do by today that would have increased US oil production and reduced gasoline prices?
Not tell the world that he was planning on crushing an already struggling industry. Encourage investment.
This isn’t as hard as you are making it
Posted on 3/8/22 at 3:19 pm to hubertcumberdale
You are starting with a logical fallacy. Production is FAR from the only component of pricing.
You arent debating in good faith. The folks here arent dumb enough to fall for it.
You arent debating in good faith. The folks here arent dumb enough to fall for it.
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