Bye Bye Oil Price

[Fort Fun Indiana]

By suspending oil and gas leases. Delaying permits, some for 7 years

No. Sorry. All of that doesn't even begin for several years. And it has no impact on production now or ten years from now, as thousands of approved permits already sit, unused.

You have been fooled by liars again.

 

[jc456]

How about an explanation how the Gubmint is costing the poster $600/month?

Fill up six times a month.

 

[jc456]

No. Sorry. All of that doesn't even begin for several years. And it has no impact on production now or ten years from now, as thousands of approved permits already sit, unused.

You have been fooled by liars again.

We disagree.

 

[The Irish Ram]

No. Sorry. All of that doesn't even begin for several years. And it has no impact on production now or ten years from now, as thousands of approved permits already sit, unused.

You have been fooled by liars again.

Trump cut regulations and loaded up our oil reserve. And many prospered:

WASHINGTON, D.C. – At the direction of the President of the United States, Donald J. Trump, the Department of Energy (DOE) will fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil.

Biden declared war on oil and has crippled our market which is WHY he's burning through our reserve. He is not filling it, he is depleting it. Because the f-ing world runs on oil, whether the greenies Biden is trying to pacify know it or not.

As reported by Forbes, “If you are a refiner forecasting billions in losses—and you require massive investments in order to keep your refinery operating safely and in compliance with the laws—you may very well make the decision to close down.”
Yet recently, the Environmental Protection Agency (EPA) has continued taking steps to enhance the regulatory burden on American refineries, which will make gas even more unaffordable for people. So Biden lied to you because he has been forced to open up the gulf to produce again.

Know how I know all of the above is true? I opened up my royalty check again this month.
Tell me about your contract with your oil company, Indi...

 

[YoursTruly]

Bullshit. Trump was attacked from both sides. That makes him most definitely NOT a RINO.

FFS, Ryan was Trumps puppet on a string, dude. As much as Ryan was a RINO, there came a point that even he couldn't keep up with all the spending Trump was wanting.
His healthcare plan was Obamacare on steroids. His Platinum Plan was socialism on steroids. He begged for more and more money for the NDAA and MASSIVE handouts to the MIC.

This is why you Trump supporters don't understand why & how Trump is a RINO. Because non of you nitwits even know what a RINO really is.

RINO vs CINO​

 

[Clipper]

By suspending oil and gas leases. Delaying permits, some for 7 years. Out of control EPA regulations on our refineries has caused nearly half of them to close.
The gas and oil companies have to pay for the land they lease from the owners. If they don't continue to produce, then when and if the government loosens the noose, they would have to pay the bonuses again to the property owners, and those puppies are massive. I'd love another one of those.
So, the companies are producing the minimum under their contracts with the owners. What they produced under Trump garnered royalty checks averaging $600 to $1,000 a month.
Under Biden = $37.00.
There ya go. That's how.

Biden's war on oil is putting us in a bad position. Using our reserve to compensate for it is worse. And now it's depleted to the point that the turnip has had to open up 80 million acres in the Gulf of Mexico to the gas companies.

So Biden opening up 80 million acres in the GOM to alleviate the shortage in the strategic reserve that you're mad about pisses you off why?

 

[Fort Fun Indiana]

Trump cut regulations and loaded up our oil reserve.

Right, because he is a shill trying to make rich friends. And the reserve has exactly jack shit to do with any of this.

As of this moment, us oil production is at record levels, as is their profit.

Everything g you said previously is just irrelevant or wrong. So you skip from thought to thought.

 

[YoursTruly]

By suspending oil and gas leases. Delaying permits, some for 7 years. Out of control EPA regulations on our refineries has caused nearly half of them to close.

Refineries were shut down because the demand was so low. That's the ONLY reason. And this has been verified by the oil companies themselves. We had too much refining capacity even before Covid.
And now that Mexico has finished their HUGE refinery, they no longer need refineries in Texas to do it for them.
When was the last time you seen gas station all across the city that said "No gas" because we didn't have enough refineries? It's been decades. The last time was during Reagan. Except when the pipeline going up the east coast was hacked and shut down.

The gas and oil companies have to pay for the land they lease from the owners. If they don't continue to produce, then when and if the government loosens the noose, they would have to pay the bonuses again to the property owners, and those puppies are massive. I'd love another one of those.

Private citizens sign their own contracts with oil companies, IF the land owner also owns the mineral rights. If production is down, say from lowering the pressure in the well (which is controlled by the oil companies at the disposal sight), then the land owner doesn't get squat, because 99.99999% of all lease contracts with oil companies are based on production amounts and percentages.

On federal lands it's about the same, but much more detailed.

So, the companies are producing the minimum under their contracts with the owners. What they produced under Trump garnered royalty checks averaging $600 to $1,000 a month.
Under Biden = $37.00.
There ya go. That's how.

Do you know how oil companies produce more or less oil? At a location, usually owned by the oil companies, they can pressurize an oil cavity. That cavity may have 50 wells in it. They can either pressurize the well to produce more. Or let the pressure subside itself though all the wells themselves.

So drilling more wells isn't near as important to production as keeping the right pressure in existing cavities.

All this talk about new wells, from someone who spent years in the business, just makes me think you people don't know anymore than what the news tells you.

Biden's war on oil is putting us in a bad position. Using our reserve to compensate for it is worse. And now it's depleted to the point that the turnip has had to open up 80 million acres in the Gulf of Mexico to the gas companies.

Biden didn't go to war with the oil companies. He only pretended to, so the oil companies had a patsy. Biden didn't close one lease or shut down one pipeline that had anything what so ever to do with current production. Or production within the next 5 years.
Those oil leases he shut down in the gulf, they weren't being used. And weren't going to used for at least 5 years. The oil demand was so low, there was no need for the oil companies to even perform geological studies on it. Which takes years.
Once Biden opened up the leases, environmental groups sued and had the leases shut down again. But lost a few months later. And now, after a couple of years are still not being used.

 

[Fort Fun Indiana]

Refineries were shut down because the demand was so low. That's the ONLY reason. And this has been verified by the oil companies themselves. We had too much refining capacity even before Covid.
And now that Mexico has finished their HUGE refinery, they no longer need refineries in Texas to do it for them.
When was the last time you seen gas station all across the city that said "No gas" because we didn't have enough refineries? It's been decades. The last time was during Reagan. Except when the pipeline going up the east coast was hacked and shut down.




Private citizens sign their own contracts with oil companies, IF the land owner also owns the mineral rights. If production is down, say from lowering the pressure in the well (which is controlled by the oil companies at the disposal sight), then the land owner doesn't get squat, because 99.99999% of all lease contracts with oil companies are based on production amounts and percentages.

On federal lands it's about the same, but much more detailed.


Do you know how oil companies produce more or less oil? At a location, usually owned by the oil companies, they can pressurize an oil cavity. That cavity may have 50 wells in it. They can either pressurize the well to produce more. Or let the pressure subside itself though all the wells themselves.

So drilling more wells isn't near as important to production as keeping the right pressure in existing cavities.

All this talk about new wells, from someone who spent years in the business, just makes me think you people don't know anymore than what the news tells you.


Biden didn't go to war with the oil companies. He only pretended to, so the oil companies had a patsy. Biden do close one lease or shut down one pipeline that had anything what so ever to do with current production. Or production within the next 5 years.
Those oil leases he shut down in the gulf, they weren't being used. And weren't going to used for at least 5 years. The oil demand was so low, there was no need for the oil companies to even perform geological studies on it. Which takes years.
Once Biden opened up the leases, environmental groups sued and had the leases shut down again. But lost. And now, after a couple of years are still not being used.

Great post.

And the only concern these companies have with these future leases is snatching them up for wat they think will be a lower price today than in the future.

So they have cranked up the propaganda to 11 in hopes of getting someone more favorable to this cash and land grab in the white house.

 

[YoursTruly]

So Biden opening up 80 million acres in the GOM to alleviate the shortage in the strategic reserve that you're mad about pisses you off why?

The big lie "Shortages."

All the oil companies have to do is pressurize the cavities and they have all the production they need for a decade, without drilling another well.

New wells are drilled so that the can take ownership of that location.

Cavities do run dry. So new wells are needed. But with the geological technology they have today, it's decades before a cavity can run dry because they can get real close on their estimations of how deep the oil is & how much oil is available at that location.

 

[Mac-7]

republicans would never abide by it

also running the government and deficits are more complicated than you realize, when the republicans blow up the economy like they do every single time they control the WH, that results in a tax revenue short fall and fall out and the possible need for stimulus like in 2008 when Bush signed trillions of relief and bail out bills etc

(then Obama inherited the Bush shit show blow up and bush deficit explosion)

The economy can withstand a little less government spending as you have already acknowledged

You just want to control the process snd lock conservatives out

 

[Mac-7]

And?

Trump appeased Pelosi. How TF is that not different than giving her everything she wanted?

She was speaker of the house with a democrat majority plus the silent support of anti trump repubs

 

[YoursTruly]

The economy can withstand a little less government spending as you have already acknowledged

You just want to control the process snd lock conservatives out

The damn democrats, in the 1970's were 100 times more fiscally conservatives than todays Republicans. Even just 20 years ago, Trumps idea's and what he believes today would've gotten him the DNC nomination.

How TF he's the leader of todays GOP is a god damn mystery to us actual conservatives.

Seriously, we're looking at people like Trump and McCarthy, like the moderate dems are looking at the radical progressives. Hoping they'll just shut TF up and disappear.

 

[YoursTruly]

She was speaker of the house with a democrat majority plus the silent support of anti trump repubs

The anti Trump repubs were the fiscal conservatives. And I don't care if Pelosi had a veto proof majority. Trump ran his campaign on fiscal conservatism. So there's no excuse for him to not veto everything that came down the pike that either increased the budget or national debt. Or was unconstitutional.

But Trump didn't do that. And when I say Trump appeased Pelosi, honestly I think he and Pelosi agreed on a lot more than they pretended to.
When it came to spending, they were bff's. Great shopping buddies.

 

[Mac-7]

The damn democrats, in the 1970's were 100 times more fiscally conservatives than todays Republicans. Even just 20 years ago, Trumps idea's and what he believes today would've gotten him the DNC nomination.

How TF he's the leader of todays GOP is a god damn mystery to us actual conservatives.

Seriously, we're looking at people like Trump and McCarthy, like the moderate dems are looking at the radical progressives. Hoping they'll just shut TF up and disappear.

You prefer who over trump?

 

[Fort Fun Indiana]

The damn democrats, in the 1970's were 100 times more fiscally conservatives than todays Republicans. Even just 20 years ago, Trumps idea's and what he believes today would've gotten him the DNC nomination.

How TF he's the leader of todays GOP is a god damn mystery to us actual conservatives.

Seriously, we're looking at people like Trump and McCarthy, like the moderate dems are looking at the radical progressives. Hoping they'll just shut TF up and disappear.

That's kind of convoluted and misleading

We were just willing to pay for stuff back then. Today's GOP, not so much.

 

[Clipper]

The damn democrats, in the 1970's were 100 times more fiscally conservatives than todays Republicans. Even just 20 years ago, Trumps idea's and what he believes today would've gotten him the DNC nomination.

How TF he's the leader of todays GOP is a god damn mystery to us actual conservatives.

Seriously, we're looking at people like Trump and McCarthy, like the moderate dems are looking at the radical progressives. Hoping they'll just shut TF up and disappear.

I disagree on one point. We need Trump to keep ranting & raving like a madman in the hope that the majority is paying enough attention so that his sorry ass can be tossed into the garbage heap of history where that asshole belongs.

He's done enough damage to this Country along witn his GOP spineless lackeys to last us a generation.

 

[YoursTruly]

I disagree on one point. We need Trump to keep ranting & raving like a madman in the hope that the majority is paying enough attention so that his sorry ass can be tossed into the garbage heap of history where that asshole belongs.

He's done enough damage to this Country along witn his GOP spineless lackeys to last us a generation.

Trumps not near as good as his supporters make him out to be. But he's not near as bad as the left makes him out to be.

 

[YoursTruly]

That's kind of convoluted and misleading

We were just willing to pay for stuff back then. Today's GOP, not so much.

Because the value of the dollar went a LOT further back then and it didn't cost near as much. Plus today, thanks to big government politicians like Trump & Pelosi, they're paying for crap that the 70's politicians wouldn't even dream of.

Gay parades in Progue? Gender studies in Pakistan?

 

[YoursTruly]

You prefer who over trump?

Any fiscal conservative. Chip Roy, Thomas Massie, Justin Amash, Mike Lee. Even Ron DeSantis. Although I'll admit, DeSantis's congressional record sucked RINO balls. But his executive record is way more right of center than Trumps.
I'm not looking for perfection on most issues. But when it comes to borrow & spending Fed. Res. money, it better be damn close to FC (fiscal conservatism), or it's a no go.
The border issue, abortion and all those other issue's, don't mean a damn thing when groceries go from $200 per month to $275. Or a new plain jane vehicle is $40,000. And American companies are forced to outsource just to stay in business.
Look at what the USD value has done to fast food. They're now building restaurants what have almost no employee's in them. Why? It's not because their employee's cost too much. It's because the value of the USD is so over inflated, that no one is going to work for poverty wages. And because so many manufacturing jobs have been outsourced, those employees in FF are not predominantly teen agers anymore. They're middle aged people.

If wages had kept up with inflation, those FF workers would be making 80% higher wages. Something like $30 per hour.

If the big spending politicians, like Trump, Obama and W (all the way back to Reagan) had been more conservative, and the fed kept the USD value in check (as they were supposed to), $10hr would still be a decent wage. FF workers would still be making $5hr. American manufacturers could afford to keep their jobs here. And open up many more.
Ford, Chrysler and GM could afford to have their water pumps, alternators and other things made here in the USA, instead of Mexico.