Crude Oil Prices Turn Lower on U.S. Drilling Activity

Apparently the illiteracy factor for both of y'all has entered the realm of the gargantuan.

Ever notice you spend most of your time posting "i didnt say that"?

I do notice that. It's a testament to the mendacity of shitposters like Fingerboy who thinks he can just make shit up and somehow the fact that he extracted a turd from his own ass and flung it on the internet magically makes it "real". I know everything I've ever posted and every point I've made so I know instantly when said shitbags are doing that. And that's why I immediately throw the challenge flag. Because I already know they can't pick it up.

QED above.

Notice how Fingerfuck equally dishonestly tries to change my gender. He thinks that makes a point too. That's another reason he's a fucking moron.

So where did you prove that refining capacity is "the limiting factor" with regard to the price of gasoline?
 
Im so old I remember when women were mocked for saying we can drill our way to lower gas prices.


Crude Oil Prices Turn Lower on U.S. Drilling Activity.

"You know we can't just drill our way to lower gas prices." Barrack Hussein Soweto Obama

In the Energy Debate between Palin and Obama...Obama Lost

Palin was right. We drilled our way to lower gas and oil prices.

Sorry, oil doesn't work like that and never did. The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean, particularly when the other rivers are controllable by entities that have an interest in how much their river empties in, especially when they act a a group to do so, which we call a 'cartel'. So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

Besides which (again) -- whatever oil is extracted/processed, is done not by "we" anyway but by oil companies, who do not constitute any kind of "we" unless you're a stockholder of that company. They operate for the interest of their own profits and stockholders --- not for the benefit of any particular country including whichever one they're based in. If it makes the most sense to send this batch to Sri Lanka then that's where your extra drilling goes. Period. Unless y'all want to nationalize the oil companies and go it alone, you can't change that.

Oil 101, simplified.
Cartels have never worked, and they never will. OPEC is the single most spectacular failure of a cartel. You see, when producers form a cartel, anyone who cheats reaps all the benefits while the other members get screwed. Hence, the minute they are formed, every member starts cheating. In the early days of the oil business American producers tried to form cartels over and over again. There was no law against it at the time, but they always fell apart.

Once AGAIN for the Illiterati --- I made no judgments on "cartels"; I simply described their role in how the international oil business works. Now you can either prove that wrong or you can clean all that jelly off your shirt and learn not to fuck with me.

Why did you bother to mention them if they have no affect on the price of oil? Clearly, you believed they do until I educated you otherwise. Apparently nothing you post has anything to do with the price of oil. Why are you even posting on this subject if that's the case?
 
So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

I could give a dozen cites. But one will do. I am not interested in teaching you. Just humiliating you.

OPEC Won't Cut Production to Stop Oil's Slump

Opec capitulated on Nov 27 2014 and opened the taps in response top American drilling. Where were you? Cutting and pasting from the internet on USMB? You are a waste of oxygen.

Inside OPEC room, Naimi declares price war on U.S. shale oil

Oil 101, simplified.

More like oil for simpletons...broke simpletons. Enjoy your social security.

You just demonstrated what I described, that OPEC reacts to supply and demand. That's what I just said.

Thanks for that, although I can see why you dishonestly cut that description out.
 
Notice how Fingerfuck equally dishonestly tries to change my gender. He thinks that makes a point too. That's another reason he's a fucking moron.

You act like a little bitch. How else is he supposed to take it? Now run along and get a masters degree in oil refining on google.

uh HUH. So you believe deliberately changing a poster's gender because you can't deal with the content of his point, is a valid argument do you.

Doesn't THAT speak volumes.
 
So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

I could give a dozen cites. But one will do. I am not interested in teaching you. Just humiliating you.

OPEC Won't Cut Production to Stop Oil's Slump

Opec capitulated on Nov 27 2014 and opened the taps in response top American drilling. Where were you? Cutting and pasting from the internet on USMB? You are a waste of oxygen.

Inside OPEC room, Naimi declares price war on U.S. shale oil

Oil 101, simplified.

More like oil for simpletons...broke simpletons. Enjoy your social security.

You just demonstrated what I described, that OPEC reacts to supply and demand. That's what I just said.

Thanks for that, although I can see why you dishonestly cut that description out.

You've been claiming that the price of gas isn't a function of the price of oil.

Who are you trying to kid?
 
So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

I could give a dozen cites. But one will do. I am not interested in teaching you. Just humiliating you.

OPEC Won't Cut Production to Stop Oil's Slump

Opec capitulated on Nov 27 2014 and opened the taps in response top American drilling. Where were you? Cutting and pasting from the internet on USMB? You are a waste of oxygen.

Inside OPEC room, Naimi declares price war on U.S. shale oil

Oil 101, simplified.

More like oil for simpletons...broke simpletons. Enjoy your social security.

You just demonstrated what I described, that OPEC reacts to supply and demand. That's what I just said.

Thanks for that, although I can see why you dishonestly cut that description out.

You've been claiming that the price of gas isn't a function of the price of oil.

Who are you trying to kid?

You're a fucking liar.

Once AGAIN --- quote me saying anything like that and prove me wrong.

You can't do it. It doesn't exist.

Ergo --- lying sack of shit.
 
Im so old I remember when women were mocked for saying we can drill our way to lower gas prices.


Crude Oil Prices Turn Lower on U.S. Drilling Activity.
You LIE!!!!!!!!!!!
ch.gaschart

Investing.com - Crude oil turned lower on Monday, pulling away from two-week highs as news of a rise in U.S. drilling added to concerns over output level and overshadowed upbeat global demand projections.

The U.S. West Texas Intermediate crude April contract was down 32 cents or about 0.51% at $62.09 a barrel by 04:40 a.m. ET (08:40 GMT), after hitting a two-week peak of $62.54 on Friday.

DERP!
 
Im so old I remember when women were mocked for saying we can drill our way to lower gas prices.


Crude Oil Prices Turn Lower on U.S. Drilling Activity.

"You know we can't just drill our way to lower gas prices." Barrack Hussein Soweto Obama

In the Energy Debate between Palin and Obama...Obama Lost

Palin was right. We drilled our way to lower gas and oil prices.

Sorry, oil doesn't work like that and never did. The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean, particularly when the other rivers are controllable by entities that have an interest in how much their river empties in, especially when they act a a group to do so, which we call a 'cartel'. So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

Besides which (again) -- whatever oil is extracted/processed, is done not by "we" anyway but by oil companies, who do not constitute any kind of "we" unless you're a stockholder of that company. They operate for the interest of their own profits and stockholders --- not for the benefit of any particular country including whichever one they're based in. If it makes the most sense to send this batch to Sri Lanka then that's where your extra drilling goes. Period. Unless y'all want to nationalize the oil companies and go it alone, you can't change that.

Oil 101, simplified.

The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean,

The US is now the swing producer, moron.

particularly when the other rivers are controllable by entities that have an interest in how much their river empties in

Yeah, Saudi Arabia tried to drive our producers under by increasing production.
Didn't work out too well for them.

So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

It's difficult to enforce cuts when everyone in your cartel cheats.
Especially when they don't produce anything else.

whatever oil is extracted/processed, is done not by "we" anyway but by oil companies,

More oil extracted, lower prices. "We" benefit.

Oil 101, simplified.

DERP!
 
Im so old I remember when women were mocked for saying we can drill our way to lower gas prices.


Crude Oil Prices Turn Lower on U.S. Drilling Activity.

"You know we can't just drill our way to lower gas prices." Barrack Hussein Soweto Obama

In the Energy Debate between Palin and Obama...Obama Lost

Palin was right. We drilled our way to lower gas and oil prices.

Sorry, oil doesn't work like that and never did. The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean, particularly when the other rivers are controllable by entities that have an interest in how much their river empties in, especially when they act a a group to do so, which we call a 'cartel'. So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

Besides which (again) -- whatever oil is extracted/processed, is done not by "we" anyway but by oil companies, who do not constitute any kind of "we" unless you're a stockholder of that company. They operate for the interest of their own profits and stockholders --- not for the benefit of any particular country including whichever one they're based in. If it makes the most sense to send this batch to Sri Lanka then that's where your extra drilling goes. Period. Unless y'all want to nationalize the oil companies and go it alone, you can't change that.

Oil 101, simplified.

The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean,

The US is now the swing producer, moron.

particularly when the other rivers are controllable by entities that have an interest in how much their river empties in

Yeah, Saudi Arabia tried to drive our producers under by increasing production.
Didn't work out too well for them.

So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

It's difficult to enforce cuts when everyone in your cartel cheats.
Especially when they don't produce anything else.

whatever oil is extracted/processed, is done not by "we" anyway but by oil companies,

More oil extracted, lower prices. "We" benefit.

Oil 101, simplified.

DERP!


I guess "derp" is Moronian for "I can't refute any of your points but I wanna see my name on the internets, yay me".
 
Im so old I remember when women were mocked for saying we can drill our way to lower gas prices.


Crude Oil Prices Turn Lower on U.S. Drilling Activity.

"You know we can't just drill our way to lower gas prices." Barrack Hussein Soweto Obama

In the Energy Debate between Palin and Obama...Obama Lost

Palin was right. We drilled our way to lower gas and oil prices.

Sorry, oil doesn't work like that and never did. The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean, particularly when the other rivers are controllable by entities that have an interest in how much their river empties in, especially when they act a a group to do so, which we call a 'cartel'. So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

Besides which (again) -- whatever oil is extracted/processed, is done not by "we" anyway but by oil companies, who do not constitute any kind of "we" unless you're a stockholder of that company. They operate for the interest of their own profits and stockholders --- not for the benefit of any particular country including whichever one they're based in. If it makes the most sense to send this batch to Sri Lanka then that's where your extra drilling goes. Period. Unless y'all want to nationalize the oil companies and go it alone, you can't change that.

Oil 101, simplified.

The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean,

The US is now the swing producer, moron.

particularly when the other rivers are controllable by entities that have an interest in how much their river empties in

Yeah, Saudi Arabia tried to drive our producers under by increasing production.
Didn't work out too well for them.

So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

It's difficult to enforce cuts when everyone in your cartel cheats.
Especially when they don't produce anything else.

whatever oil is extracted/processed, is done not by "we" anyway but by oil companies,

More oil extracted, lower prices. "We" benefit.

Oil 101, simplified.

DERP!


I guess "derp" is Moronian for "I can't refute any of your points but I wanna see my name on the internets, yay me".

Just pointing out your errors and your ignorance. Carry on.
 
Im so old I remember when women were mocked for saying we can drill our way to lower gas prices.


Crude Oil Prices Turn Lower on U.S. Drilling Activity.

"You know we can't just drill our way to lower gas prices." Barrack Hussein Soweto Obama

In the Energy Debate between Palin and Obama...Obama Lost

Palin was right. We drilled our way to lower gas and oil prices.

Sorry, oil doesn't work like that and never did. The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean, particularly when the other rivers are controllable by entities that have an interest in how much their river empties in, especially when they act a a group to do so, which we call a 'cartel'. So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

Besides which (again) -- whatever oil is extracted/processed, is done not by "we" anyway but by oil companies, who do not constitute any kind of "we" unless you're a stockholder of that company. They operate for the interest of their own profits and stockholders --- not for the benefit of any particular country including whichever one they're based in. If it makes the most sense to send this batch to Sri Lanka then that's where your extra drilling goes. Period. Unless y'all want to nationalize the oil companies and go it alone, you can't change that.

Oil 101, simplified.

The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean,

The US is now the swing producer, moron.

particularly when the other rivers are controllable by entities that have an interest in how much their river empties in

Yeah, Saudi Arabia tried to drive our producers under by increasing production.
Didn't work out too well for them.

So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

It's difficult to enforce cuts when everyone in your cartel cheats.
Especially when they don't produce anything else.

whatever oil is extracted/processed, is done not by "we" anyway but by oil companies,

More oil extracted, lower prices. "We" benefit.

Oil 101, simplified.

DERP!


I guess "derp" is Moronian for "I can't refute any of your points but I wanna see my name on the internets, yay me".

Just pointing out your errors and your ignorance. Carry on.

I just did. You missed it while you were gazing in your mirror.
 
"You know we can't just drill our way to lower gas prices." Barrack Hussein Soweto Obama

In the Energy Debate between Palin and Obama...Obama Lost

Palin was right. We drilled our way to lower gas and oil prices.

Sorry, oil doesn't work like that and never did. The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean, particularly when the other rivers are controllable by entities that have an interest in how much their river empties in, especially when they act a a group to do so, which we call a 'cartel'. So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

Besides which (again) -- whatever oil is extracted/processed, is done not by "we" anyway but by oil companies, who do not constitute any kind of "we" unless you're a stockholder of that company. They operate for the interest of their own profits and stockholders --- not for the benefit of any particular country including whichever one they're based in. If it makes the most sense to send this batch to Sri Lanka then that's where your extra drilling goes. Period. Unless y'all want to nationalize the oil companies and go it alone, you can't change that.

Oil 101, simplified.

The international oil market is like an ocean, fed by many rivers in many places. Increasing one of those rivers isn't going to lift that ocean,

The US is now the swing producer, moron.

particularly when the other rivers are controllable by entities that have an interest in how much their river empties in

Yeah, Saudi Arabia tried to drive our producers under by increasing production.
Didn't work out too well for them.

So you increase your river by ten units, the cartel decreases by the same ten units, and you're back where you started. That's why the cartel exists.

It's difficult to enforce cuts when everyone in your cartel cheats.
Especially when they don't produce anything else.

whatever oil is extracted/processed, is done not by "we" anyway but by oil companies,

More oil extracted, lower prices. "We" benefit.

Oil 101, simplified.

DERP!


I guess "derp" is Moronian for "I can't refute any of your points but I wanna see my name on the internets, yay me".

Just pointing out your errors and your ignorance. Carry on.

I just did. You missed it while you were gazing in your mirror.

Yes, you demonstrated your ignorance.
Glad to help.
 
Notice how Fingerfuck equally dishonestly tries to change my gender. He thinks that makes a point too. That's another reason he's a fucking moron.

You act like a little bitch. How else is he supposed to take it? Now run along and get a masters degree in oil refining on google.

uh HUH. So you believe deliberately changing a poster's gender because you can't deal with the content of his point, is a valid argument do you.

Doesn't THAT speak volumes.
Hilarious. A leftist whining about gender identification.
 
"Women" huh.

Anyone of any gender who claims "we can drill our way to lower gas prices" deserves the mockery, for they know nothing of what they babble. First of all "we" don't drill. Oil companies drill. And they do so where and when and to what extent, that it will profit themselves, and obviously lowering prices doesn't serve that, and just as obviously multinational megacorporations owe no allegiance to a national flag, but rather to their own shareholders.

Second, oil is an international fungible commodity, so those multinational oil companies that did the drilling and refining are going to then take it to that international market and sell it where it will be the most profitable. There is NO direct relationship between "what 'we' drill" and "what we pay at the pump". There never has been. Unless you want to nationalize the oil industry and go it alone, there never will be.
Hilarious claptrap.

America drilled our way to lower prices. And the worlds leading producer of oil.

And FYI, dumbass - many private citizens have oil wells.

Go hug a fracker. They saved you a lot of money.

Clearly you haven't a clue in the world about how the oil bidness works. Everything I posted in 3 IS how it works. Read it and learn something, or prove me wrong.

It's also instructive how quickly you abandoned the original bogus point and switched off to "natural gas".
America drilled her way to cheap oil.
America is now leads the world in oil.
Low income Americans can now afford to fill their cars with gas.
MAGA.
gas was just as low as during Oblama

MAGA...

I pay more now in both NY and NJ for gas than when President Obama was in office.

Damn, they're so stupid.

And that proves exactly what?
 
To get past all the BS in this thread.

Here's what I don't understand. The news says we are now exporting more oil than we are importing because we are pulling more out of the ground than ever before.

Right now, regular is about $2.72 to 2.78 (it was down around $2.50 for months) and word has it that it will soar in the months to come to over $3.50.

Why?

Shouldn't the Laws of Supply and Demand indicate that the more oil there is, the cheaper it should be?
 
To get past all the BS in this thread.

Here's what I don't understand. The news says we are now exporting more oil than we are importing because we are pulling more out of the ground than ever before.

Right now, regular is about $2.72 to 2.78 (it was down around $2.50 for months) and word has it that it will soar in the months to come to over $3.50.

Why?

Shouldn't the Laws of Supply and Demand indicate that the more oil there is, the cheaper it should be?

The news says we are now exporting more oil than we are importing

I don't think that's the case. Do you have a link?
 
To get past all the BS in this thread.

Here's what I don't understand. The news says we are now exporting more oil than we are importing because we are pulling more out of the ground than ever before.

Right now, regular is about $2.72 to 2.78 (it was down around $2.50 for months) and word has it that it will soar in the months to come to over $3.50.

Why?

Shouldn't the Laws of Supply and Demand indicate that the more oil there is, the cheaper it should be?

"Word has it?" You expect us to accept that as some kind of fact?
 
To get past all the BS in this thread.

Here's what I don't understand. The news says we are now exporting more oil than we are importing because we are pulling more out of the ground than ever before.

Right now, regular is about $2.72 to 2.78 (it was down around $2.50 for months) and word has it that it will soar in the months to come to over $3.50.

Why?

Shouldn't the Laws of Supply and Demand indicate that the more oil there is, the cheaper it should be?

The news says we are now exporting more oil than we are importing

I don't think that's the case. Do you have a link?

How much petroleum does the United States import and export?
In 2016, the United States imported approximately 10.1 million barrels per day (MMb/d) of petroleum from about 70 countries. Petroleum includes crude oil, natural gas plant liquids, liquefied refinery gases, refined petroleum products such as gasoline and diesel fuel, and biofuels including ethanol and biodiesel. About 78% of gross petroleum imports were crude oil.

In 2016, the United States exported about 5.2 MMb/d of petroleum to 101 countries. Most of the exports were petroleum products. The resulting net imports (imports minus exports) of petroleum were about 4.9 MMb/d.

The top five source countries of U.S. petroleum imports in 2016 were Canada, Saudi Arabia, Venezuela, Mexico, and Colombia.

From How much petroleum does the United States import and export? - FAQ - U.S. Energy Information Administration (EIA)

That was just a quick Google search.
 
To get past all the BS in this thread.

Here's what I don't understand. The news says we are now exporting more oil than we are importing because we are pulling more out of the ground than ever before.

Right now, regular is about $2.72 to 2.78 (it was down around $2.50 for months) and word has it that it will soar in the months to come to over $3.50.

Why?

Shouldn't the Laws of Supply and Demand indicate that the more oil there is, the cheaper it should be?

Simple laws of supply and demand would have that effect if we were talking about a closed system where both supply and demand are finite and controllable quantities. Oil doesn't work like that, unless you want to nationalize oil companies and keep the flow within our borders -- but that's not how it works because (a) oil is a fungible commodity on the international market, not just the US, and (b) the entities that drill, process, store and sell that oil are international megacorporations (oil companies) whose interest and allegiance is to their own profits and their own shareholders, not what's going on at the retail level in any of the countries they supply.

See also post 47.

So when your reports say "we" are importing or exporting X amount of oil, what they should be saying is "they" (the oil companies) are doing that. "We" don't have an influence on it.
 

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