An Inconvenient Truth

[DudleySmith]

I never agreed with using our reserves because as we both know it puts us in a dangerous situation just to try and tame a mid term election. Especially with a demented moron starting trouble with now two nuclear armed countries.

But that's the way oil is bought and sold and always has been. Believe it or not, the commodities market was created to stabilize prices. It may not work in our favor all the time, but the damage would be much worse if not in the market.

There is only one 'futures market', and and a handful of producers control it. Who else writes futures but producers? Nobody.

 

[DudleySmith]

Actually they don't. The market sets the price. Do you think farmers set the price for their products?

The market' is a small set of businesses who operate as a cartel. Your simplistic ideological fantasy rubbish doesn't have anything to do with real life .

 

[hadit]

The market' is a small set of businesses who operate as a cartel. Your simplistic ideological fantasy rubbish doesn't have anything to do with real life .

And which oil companies are in that cartel?

 

[Ray From Cleveland]

There is only one 'futures market', and and a handful of producers control it. Who else writes futures but producers? Nobody.

They can buy some contracts but not enough to change prices. Commodities investors are simple people like you and I. Regular folks just trying to make an investment for profit. Here is how it works:

You find ten barrels of crude oil in an old shed of a property you just bought. You have no actual use for them, so you put them on e-bay. You set the sell date and whatever people bid your oil for, that's what you sell it for no questions asked. As more people want to buy your oil, the price increases. That's how the market works.

So fuel prices are not set by companies, they are set by the tens of thousands of small time investors bidding oil up or down.

 

[CowboyTed]

No, it really doesn't work that way. All energy prices are set in the commodities markets. That is generally guided by supply and demand.

Global supply and demand

Biden did very little to effect global supply...

But Trump did...

Look, when did Oil actually started to increase 5 times? That would be first quarter 2020..

Biden just came in when it was 2.5 times its April Price($51)... It rose to double before the market and Biden managed to gain some control...


Well lets ask ourselves what happened in March - April 2020 to cause Oil price?

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal

www.reuters.com

OPEC and allies' oil production cut is Trump's 'biggest and most complex' deal ever: Dan Yergin

Yergin said there were two main factors driving the turnaround to the deal that just six weeks ago "would not have seemed possible."

www.cnbc.com

He even got US to agree to cuts to production:

Trump says US will cut oil production to secure global deal

President Trump said Friday the U.S. would reduce its oil production to move forward with a tentative deal limiting global output, part of an effort by the administration to address …

thehill.com

So the thing everyone is complaining about is: Why can't you fix Trump's fuck up quickly enough...

 

[CowboyTed]

And which oil companies are in that cartel?

OPEC+ is effectively a cartel...

They control the supply of Oil..

 

[Ray From Cleveland]

Global supply and demand

Biden did very little to effect global supply...

But Trump did...

Look, when did Oil actually started to increase 5 times? That would be first quarter 2020..

Biden just came in when it was 2.5 times its April Price($51)... It rose to double before the market and Biden managed to gain some control...


Well lets ask ourselves what happened in March - April 2020 to cause Oil price?

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal

www.reuters.com

OPEC and allies' oil production cut is Trump's 'biggest and most complex' deal ever: Dan Yergin

Yergin said there were two main factors driving the turnaround to the deal that just six weeks ago "would not have seemed possible."

www.cnbc.com

He even got US to agree to cuts to production:

Trump says US will cut oil production to secure global deal

President Trump said Friday the U.S. would reduce its oil production to move forward with a tentative deal limiting global output, part of an effort by the administration to address …

thehill.com

So the thing everyone is complaining about is: Why can't you fix Trump's fuck up quickly enough...

What Dementia did was place all kinds of new regulations and fees for oil companies drilling in the US. Oil and gasoline remained steady under Trump until Dementia announced he was closing the Keystone. Afterwards when our largest gasoline pipeline was hacked by the Russians, Dementia made a statement it's none of governments business; it's a private matter. Then he stopped new oil exploration and leases on public lands. Finally the Ukraine war.

Here Are 81 Biden Actions That Drove Gas Prices to Historic Highs

townhall.com

 

[JoeC]

The companies over-drilled gas wells, and wanted to steal market share from Russia. You have any more idiotic gibberish you want to wow your treehouse buddies with? They had to honor drilling contracts by law, and swamped their own storage facilities. Natural gas should have been free, but it never was even in a glut, dumbass. They flared off trillions of cubic feet.They deliberately kept it off the market.

It appears you are the one talkin out your ass

 

[CowboyTed]

They can buy some contracts but not enough to change prices. Commodities investors are simple people like you and I. Regular folks just trying to make an investment for profit. Here is how it works:

You find ten barrels of crude oil in an old shed of a property you just bought. You have no actual use for them, so you put them on e-bay. You set the sell date and whatever people bid your oil for, that's what you sell it for no questions asked. As more people want to buy your oil, the price increases. That's how the market works.

So fuel prices are not set by companies, they are set by the tens of thousands of small time investors bidding oil up or down.

Ahh how about a the people come together and say, lets not put 10 for sale but 2...

For the next 5 months they have higher priced barrels, if can get enough barrel producers agree...

If OPEC+ was a US organisation it would be illegal under competition laws, it is not and therefore is not..

 

[JoeC]

Meanwhile, in Saudi Arabia:

Saudi crude oil exports fell in 2021 even as OPEC+ ease output caps​

RIYADH: Saudi Arabia shipped less crude in 2021 from a year ago, even as the Kingdom is allowed to produce more oil under its agreemnt with OPEC+ countries. Saudi crude oil exports averaged 6.22 million barrels per day, which is 6.6 percent less than in 2020, data posted by the Joint...

www.arabnews.com

Saudi Crude Oil Exports Sink To 11-Year Low For 2021; Now For The Rebound​

Do you know

It's getting old having to prove you tards' "Biden's war on oil" bullshit wrong over and over.

US oil production increased by 30 percent in Biden's first year. It only increased by 20 percent in Trump's first year. And they both started from the same level. So tell me why Trump hates America!



Next:

​

New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%​

New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration’s first-year total of 2,658.

Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management’s New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits — more than twice the 71 drilling permits Trump approved in that state in his first year.



More fun:

​

U.S. Energy Independence Has Grown​

Using the definition of exports minus imports, 2021 was our highest level of energy independence in history.​

If things are so rosy, why is gasoline more expensive? Why drain the SR? Your mouth and reality are not on the same page.

 

[JoeC]

Ahh how about a the people come together and say, lets not put 10 for sale but 2...

For the next 5 months they have higher priced barrels, if can get enough barrel producers agree...

If OPEC+ was a US organisation it would be illegal under competition laws, it is not and therefore is not..

So why cut domestic production and go hat in hand begging OPEC nations for oil?

 

[CowboyTed]

What Dementia did was place all kinds of new regulations and fees for oil companies drilling in the US. Oil and gasoline remained steady under Trump until Dementia announced he was closing the Keystone. Afterwards when our largest gasoline pipeline was hacked by the Russians, Dementia made a statement it's none of governments business; it's a private matter. Then he stopped new oil exploration and leases on public lands. Finally the Ukraine war.

Here Are 81 Biden Actions That Drove Gas Prices to Historic Highs

townhall.com

You mean the price which had already jumped 2.5 times in the previous months...

Trump got Global supply to be cut by 10m barrels a day from OPEC while agreeing to cut US production as well... US production is about 11m barrels a day...

Trump says US will cut oil production to secure global deal

President Trump said Friday the U.S. would reduce its oil production to move forward with a tentative deal limiting global output, part of an effort by the administration to address …

thehill.com

Trump came through on his promise of cutting production (well he kept one promise)...

Biden has been trying to increase the damage Trump did... Don't worry Trump was thanked by the Oil industry for organising this windfall..

 

[hadit]

OPEC+ is effectively a cartel...

They control the supply of Oil..

So, not American oil companies, then.

 

[JoeC]

What Dementia did was place all kinds of new regulations and fees for oil companies drilling in the US. Oil and gasoline remained steady under Trump until Dementia announced he was closing the Keystone. Afterwards when our largest gasoline pipeline was hacked by the Russians, Dementia made a statement it's none of governments business; it's a private matter. Then he stopped new oil exploration and leases on public lands. Finally the Ukraine war.

Here Are 81 Biden Actions That Drove Gas Prices to Historic Highs

townhall.com

Sadly none of these leftist wankers will even read the article. The truth is a hard thing to swallow sometimes.

 

[CowboyTed]

So why cut domestic production and go hat in hand begging OPEC nations for oil?

They were loosing money at the time... Oil prices were too low to make it profitable to produce oil...

We are blue in the face telling people. Oil is a global commodity, it can be shipped to all major markets in the would for about 1c a gallon...

The US government or people own none of the oil found in their country, they are only just geographically closer and thus have only < 1c advantage f buying it over the export market..

So if OPEC+ want to reduce supply then prices go up... They produce 30m+ barrels a day and other can't fill that supply...

So, not American oil companies, then.

American Oil Companies were not so obvious but it was reported that they lobbied for the higher oil prices in strange unison....

Big Oil does lobby together... If we don't think that is coordination then we would be fools.

 

[hadit]

They were loosing money at the time... Oil prices were too low to make it profitable to produce oil...

View attachment 767911

We are blue in the face telling people. Oil is a global commodity, it can be shipped to all major markets in the would for about 1c a gallon...

The US government or people own none of the oil found in their country, they are only just geographically closer and thus have only < 1c advantage f buying it over the export market..

So if OPEC+ want to reduce supply then prices go up... They produce 30m+ barrels a day and other can't fill that supply...

American Oil Companies were not so obvious but it was reported that they lobbied for the higher oil prices in strange unison....

Big Oil does lobby together... If we don't think that is coordination then we would be fools.

Right, they can lobby and request, but they don't set the global price of oil, that's my point.

 

[CowboyTed]

Sadly none of these leftist wankers will even read the article. The truth is a hard thing to swallow sometimes.

Read the article and it all has very little effect on the Global Price of Oil...

As soon as the say Keystone pipeline you are proving your ignorance on the subject...

Do you understand that the world produces 77m barrels of Oil a day... OPEC alone is 30m... US is 12.4, the best ever did is 12.8...

Keystone offers not extra Oil, but if you bust a gut and produced 1m a day more... OPEC will just drop 1m...

OPEC increases and contracts supply to a amount they deem fit... US produce more, they produce less... US doesn't have the reserves to compete indefinitely, it too costly to produce..

 

[hadit]

Read the article and it all has very little effect on the Global Price of Oil...

As soon as the say Keystone pipeline you are proving your ignorance on the subject...

Do you understand that the world produces 77m barrels of Oil a day... OPEC alone is 30m... US is 12.4, the best ever did is 12.8...

Keystone offers not extra Oil, but if you bust a gut and produced 1m a day more... OPEC will just drop 1m...

OPEC increases and contracts supply to a amount they deem fit... US produce more, they produce less... US doesn't have the reserves to compete indefinitely, it too costly to produce..

Basically, the US sets the cap on the price, as when it goes high enough, we can produce the more expensive stuff and keep it in line.

 

[DudleySmith]

And which oil companies are in that cartel?

So you don't know. I already knew that.

 

[DudleySmith]

So, not American oil companies, then.

American oil companies handle their oil, drilling, pipelines, marketing, and transportation.