Jen Psaki: “There are 9,000 approved oil leases that the oil companies are not tapping into currently”… Aeuhhh?

[eagle1462010]

They pulled this same shit during the reign of the Kenyan lawn jockey.

Most of those leases are in areas that are low probability sites, and/or tremendously expensive to extract the resources.

They are HABITUAL LIARS. Pzaki is a professional LIAR..........I keep waiting for fire to come from her eyes and horns to come out of her head.

 

[Devils_Advocate]

The oil that the U.S. extracts is dirty and needs much more refinement to process it into regular Petro for the common market.

So let understand even though a company hold a lease on a land and refuses to drill and produce is not the true issue here because the oil that will be extracted could cost so much to refine that unless you raise the price of gas then it is not worth for the company to do all that is needed to produce gasoline.

A company works on profit and the larger the profit the better.

I explained awhile back to someone what is done is what I call the rubber band effect where you stretch the bad so much then let it go back to almost it normal position, this can be allowed to the rise of cost and what is happening is the market is seeing the max it can go before they reduce to a lower level where they can still make a great profit…

 

[eagle1462010]

 

[eagle1462010]

The oil that the U.S. extracts is dirty and needs much more refinement to process it into regular Petro for the common market.

So let understand even though a company hold a lease on a land and refuses to drill and produce is not the true issue here because the oil that will be extracted could cost so much to refine that unless you raise the price of gas then it is not worth for the company to do all that is needed to produce gasoline.

A company works on profit and the larger the profit the better.

I explained awhile back to someone what is done is what I call the rubber band effect where you stretch the bad so much then let it go back to almost it normal position, this can be allowed to the rise of cost and what is happening is the market is seeing the max it can go before they reduce to a lower level where they can still make a great profit…

Oil supply is global. More production even if dirty oil still can be refined...

 

[Devils_Advocate]

Oil supply is global. More production even if dirty oil still can be refined.........Sweet Crude is still Crude.

The cost is higher to refine the oil and is usually shipped or was shipped to Europe to be refined into diesel while we imported from other parts of the world for our gas production.

If anyone would notice our import from Mexico has been down along with Venezuela, so that has something to do with it.

Oil is just not oil and the cost to drill, extract, and refine matters a lot!

 

[eagle1462010]

The cost is higher to refine the oil and is usually shipped or was shipped to Europe to be refined into diesel while we imported from other parts of the world for our gas production.

If anyone would notice our import from Mexico has been down along with Venezuela, so that has something to do with it.

Oil is just not oil and the cost to drill, extract, and refine matters a lot!

It all matters........And selling to Europe is just smart.........We sell Coke Dust all over because we can't use it here..........

Over all production lowers costs..............And when it was DRILL BABY DRILL TRUMP it made a YUGE DIFFERENCE...........Now we have Biden attacking fosssil fuels driving costs through the roof again..........PUTIN was laughing all the way to the bank..........

 

[WinterBorn]

Then explain why gasoline was so cheap under Trump, yet so high under Biden.

You have no logical explanation, except to blame it on everyone but Biden. It's not just one single pipeline, it's his entire energy policies that are a failure.

The oil companies are the ones setting the prices. Usually they claim a shortage of oil when they raise prices. This time they can't.

 

[Oddball]

The cost is higher to refine the oil and is usually shipped or was shipped to Europe to be refined into diesel while we imported from other parts of the world for our gas production.

If anyone would notice our import from Mexico has been down along with Venezuela, so that has something to do with it.

Oil is just not oil and the cost to drill, extract, and refine matters a lot!

Dirtier oil goes to diesel and heating oil, both integral to the economy....The least refined is used for seagoing ships.

More oil available for those means more cleaner crude available for gasoline.

 

[eagle1462010]

The oil companies are the ones setting the prices. Usually they claim a shortage of oil when they raise prices. This time they can't.

Croney Capitalism sets the prices...............Only the big dogs can be in the hunt........

The action of the lock downs beat down small companies who went into fracking............Negative oil DESTROYED THEM. Big oil loves high gas prices.......They will not increase prodcution.

The politicians have selected their favorite donors for REWARDS..........small Fracking companies need not apply.

WEF

 

[JGalt]

Croney Capitalism sets the prices...............Only the big dogs can be in the hunt........

The action of the lock downs beat down small companies who went into fracking............Negative oil DESTROYED THEM. Big oil loves high gas prices.......They will not increase prodcution.

The politicians have selected their favorite donors for REWARDS..........small Fracking companies need not apply.

WEF

So now there are 9,000 unused leases that may or may not have oil and gas in them. The big oil companies aren't going to waste their time and money speculating on them, which I can't say I blame them. They're not in business to lose money. And what small independent oil and gas companies are left, can't afford to drill on them, because inflation is so high, materials are scarce, and the environmental regulations are too strict.

Never would have happened under Trump. This can't be repeated enough.

 

[eagle1462010]

So now there are 9,000 unused leases that may or may not have oil and gas in them. The big oil companies aren't going to waste their time and money speculating on them, which I can't say I blame them. They're not in business to lose money. And what small independent oil and gas companies are left, can't afford to drill on them, because inflation is so high, materials are scarce, and the environmental regulations are too strict.

Never would have happened under Trump. This can't be repeated enough.

aka.....The left attacks oil and we get fucked. Sums it up properly.

 

[JGalt]

aka.....The left attacks oil and we get fucked. Sums it up properly.

If it's any consolation, those "81 million" are just as fucked as we are.

 

[eagle1462010]

If it's any consolation, they're just as fucked as we are.

Well there is always that.........Got some salt.........throw them some.

 

[marvin martian]

If it's any consolation, those "81 million" are just as fucked as we are.

Not the dead ones, though.

 

[Dekster]

Paying $10,000 dollars for a lease on a piece of property that might produce $2,000 in oil doesn't work.

Sure it does. Just not for what you think. The companies buy them so they can book the leases at an inflated value as an asset to keep their financials looking all pretty to would be investors.

 

[WinterBorn]

So now there are 9,000 unused leases that may or may not have oil and gas in them. The big oil companies aren't going to waste their time and money speculating on them, which I can't say I blame them. They're not in business to lose money. And what small independent oil and gas companies are left, can't afford to drill on them, because inflation is so high, materials are scarce, and the environmental regulations are too strict.

Never would have happened under Trump. This can't be repeated enough.

Big oil companies speculate on whether there is gas or oil all the time. It is what they do. Whatever losses are accrued are written off. And one decent oil strike pays for a hundred bad drillings.

 

[Oddball]

Big oil companies speculate on whether there is gas or oil all the time. It is what they do. Whatever losses are accrued are written off. And one decent oil strike pays for a hundred bad drillings.

Being able to write off the loss means that you had the resources on hand to lose in the first place....DUUUUUH!

Everyone gets squeezed when the only leases available are in high risk/low reward areas.

 

[JGalt]

Big oil companies speculate on whether there is gas or oil all the time. It is what they do. Whatever losses are accrued are written off. And one decent oil strike pays for a hundred bad drillings.

Big oil companies weren't the ones responsible for the oil and gas boom under Trump. Most of the fracking was being done by smaller independent companies, and on private land. Granted, big oil companies did see this as a potential profit making venture, so they started buying up those small companies. But by that time, we had so much oil and gas, that big companies were losing money.

That fact is, producing large amounts of oil and gas invariably drives the price down. Anyone who says we're currently producing more oil and gas than ever, is an idiot. Otherwise the price of oil wouldn't be almost $130 per barrel.

Now this is what a vibrant and successful energy sector looks like. Before we allowed you children to take control of the country...

 

[mudwhistle]

Domestic oil production is at or near all time highs. Oil companies have posted record profits.

But the high gas prices are the fault of Biden because he stopped construction of a pipeline that, if work had continued, would still not be completed?

Special kind of logic there.

That's not all Biden did. He signed stacks of documents that set all of this in motion.
Now we're in between a rock and a hard spot....thanks to his desire to throttle our energy industry in favor of Russia and China.
Now he's begging our enemies to cut us some slack so he can keep the nutcases in his party from destroying him in the press....which they could easily do. They have so much dirt on him waiting to be released.....so he can't do anything that pisses them off.

 

[mudwhistle]