As Gas Prices Soar, Biden Leans Toward Visiting Saudi Arabia

[basquebromance]

he's not gonna milk them like Trump, he's not that good a negotiator

As Gas Prices Soar, Biden Leans Toward Visiting Saudi Arabia

President Joe Biden is leaning towards making a visit to Saudi Arabia — a trip that would likely bring him face-to-face with the Saudi crown prince he once shunned as a killer. The White House is weighing a visit to Saudi Arabia that would also include a meeting of the leaders of the Gulf...

www.nbcwashington.com

 

[Big Bend Texas]

Maybe he should make some appearances in say the Gulf Coast, North Slope in AK and off of both the Atlantic and Pacific shores where in total we have more than a hundred years worth of oil that can be tapped into right now?

While he's at it, how about fast tracking some new refineries and LNG loading facilities?

We could produce enough right here at home to supply most of Europe's needs as well as our own if the gov't would just get out of the way.

 

[pknopp]

Why isn't he visiting Wall Street? They are the ones running the prices up.

 

[Big Bend Texas]

Why isn't he visiting Wall Street? They are the ones running the prices up.

Horse feathers, demand is driving prices, not wall street.

 

[Deplorable Yankee]

Most middle eastern oil is bound for europe and Asia very little ends up here

 

[Nuthin' Fancy]

Maybe he should make some appearances in say the Gulf Coast, North Slope in AK and off of both the Atlantic and Pacific shores where in total we have more than a hundred years worth of oil that can be tapped into right now?

While he's at it, how about fast tracking some new refineries and LNG loading facilities?

We could produce enough right here at home to supply most of Europe's needs as well as our own if the gov't would just get out of the way.

The government IS out of the way, of over 9000 permits that the US government controls, 10%.
Let alone the 90% the US government doesn't control.

Trumptards blaming Biden for what oil companies AREN'T doing............drilling.

Trumptards want Biden to force oil companies to drill.
That's what communist do..................Oh' wait.

 

[pknopp]

Horse feathers, demand is driving prices, not wall street.

Really? Wall Street investors can't get enough oil? Tell us, what do they do with this oil they buy?

To save the time, they do not buy oil.

 

[Big Bend Texas]

Really? Wall Street investors can't get enough oil? Tell us, what do they do with this oil they buy?

To save the time, they do not buy oil.

It goes to the refineries you simpleton.

Right now there's no shortage of oil but there is a serious shortage of refined products which is why they are skyrocketing due to Europe's sanctions on Russia which choked off the supply to their own refineries which is down about 30%.

 

[Big Bend Texas]

Most middle eastern oil is bound for europe and Asia very little ends up here

Don't worry, Joe is trying to fix that.

 

[Big Bend Texas]

The government IS out of the way, of over 9000 permits that the US government controls, 10%.
Let alone the 90% the US government doesn't control.

Trumptards blaming Biden for what oil companies AREN'T doing............drilling.

Trumptards want Biden to force oil companies to drill.
That's what communist do..................Oh' wait.

The Gov't controls 100% of the oil in ANWAR and the North Slope along with all of the oil off of our costs.

Those also happened to be the most abundant and profitable deposits in North America.

Having permits avialable doesn't mean shit if the oil cannot be produced profitably.

They've now cancelled 4 major lease sales, the last as recent as last month.

We're down ten GOM rigs in the last year some of which could be producing 50,000bbls per day if they were working.

Alaskan production is down by more than half since Obama started locking up the NPR and ANWAR fields which Joe as one of his first orders of business put even more of off limits to new drilling and production.

Oil and gas wells are not like faucets, they don't all produce the same flow rate.

 

[pknopp]

It goes to the refineries you simpleton.

Yes, refiners buy oil. "Oil speculators" don't actually buy a drop of oil.

Right now there's no shortage of oil but there is a serious shortage of refined products which is why they are skyrocketing due to Europe's sanctions on Russia which choked off the supply to their own refineries which is down about 30%.

So the price of oil has nothing to do with the refined price?

 

[Big Bend Texas]

Yes, refiners buy oil. "Oil speculators" don't actually buy a drop of oil.



So the price of oil has nothing to do with the refined price?

It always plays a role in prices but we're not in a normal market because of the sanctions.

Right now Europe is starving for refined goods which drives the price up.

Speculators are literally gambling when they buy futures, they don't drive the market price, they are at the mercy of market prices.

 

[pknopp]

It always plays a role in prices but we're not in a normal market because of the sanctions.

Right now Europe is starving for refined goods which drives the price up.

Speculators are literally gambling when they buy futures, they don't drive the market price, they are at the mercy of market prices.

Then we aren't out anything by excluding pure speculation from the markets.

 

[Nuthin' Fancy]

The Gov't controls 100% of the oil in ANWAR and the North Slope along with all of the oil off of our costs.

SO?

The U.S. has more than 24 million acres under lease to oil and gas companies onshore — close to half are not producing.

At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands.

So, 4500 federal permits are just sitting there.

Those also happened to be the most abundant and profitable deposits in North America.

Really?

So, the ANWR bids must have drew 1000's of bids?

January 6 2021
One of the Trump administration's biggest environmental rollbacks suffered a stunning setback Wednesday, as a decades-long push to drill for oil in Alaska's Arctic National Wildlife Refuge ended with a lease sale that attracted just three bidders — one of which was the state of Alaska itself.

Alaska's state-owned economic development corporation was the only bidder on nine of the parcels offered for lease in the northernmost swath of the refuge, known as the coastal plain. Two small companies also each picked up a single parcel.

Half of the offered leases drew no bids at all.

"They held the lease in ANWR — that is history-making. That will be recorded in the history books and people will talk about it," said Larry Persily, a longtime observer of the oil and gas industry in Alaska . "But no one showed up."

Having permits avialable doesn't mean shit if the oil cannot be produced profitably.

You don't know if you don't try, oil companies make more $$$ by NOT trying

They've now cancelled 4 major lease sales, the last as recent as last month.

We're down ten GOM rigs in the last year some of which could be producing 50,000bbls per day if they were working.

Alaskan production is down by more than half since Obama started locking up the NPR and ANWAR fields which Joe as one of his first orders of business put even more of off limits to new drilling and production.

How?
Not a drop of oil has been produced in ANWR.
They never had an oil rig in ANWR.
Just like the BS about Keystone, 10% complete, not a drop of oil ran through it's pipe and Trumptards cry it caused all our shortage issues.

Oil and gas wells are not like faucets, they don't all produce the same flow rate.

 

[HaShev]

 

[surada]

The Gov't controls 100% of the oil in ANWAR and the North Slope along with all of the oil off of our costs.

Those also happened to be the most abundant and profitable deposits in North America.

Having permits avialable doesn't mean shit if the oil cannot be produced profitably.

They've now cancelled 4 major lease sales, the last as recent as last month.

We're down ten GOM rigs in the last year some of which could be producing 50,000bbls per day if they were working.

Alaskan production is down by more than half since Obama started locking up the NPR and ANWAR fields which Joe as one of his first orders of business put even more of off limits to new drilling and production.

Oil and gas wells are not like faucets, they don't all produce the same flow rate.

True. Most domestic wells produce less than 50 barrels a day.

 

[shimon]

View attachment 652992

Lol… When you create an artificial shortage by taking out the supply or limiting it you create an imbalance which leads to higher prices and profits the consumer always gets shafted and finds a hard time getting his product . I wonder if the big guy’s 10 per cent has gotten bigger..

 

[shimon]

True. Most domestic wells produce less than 50 barrels a day.

That is roughly 90 to 100 cars supply per day facturing in both gas and diesel if enough of these domestic wells are closed then you have shortages plain and simple as the oil must be replaced from elsewhere…Look at the prices now if I didn’t know any better I would say in my opinion
the goal is to make it so expensive that only the privileged few will be able to drive combustion engine cars in the future after all electric cars can only go roughly 150 miles before they need to be recharged ( so you can’t go very far and you can be tracked) ..One must look at what is the goal here and how can it be implemented so that people don’t rebel and accept things.. After all create a crisis and then give us a solution that benefits the ones who created it in the first place…

 

[22lcidw]

The government IS out of the way, of over 9000 permits that the US government controls, 10%.
Let alone the 90% the US government doesn't control.

Trumptards blaming Biden for what oil companies AREN'T doing............drilling.

Trumptards want Biden to force oil companies to drill.
That's what communist do..................Oh' wait.

Progs screwed this up on purpose for the green deal.

 

[ColonelAngus]

What’s the Saudi government stance on LGBTQA+ rights?