Biden asks Opec to produce more oil !

[B. Kidd]

Who would of thought this would happen? Well, probably most everyone other than Democrats, they aren't too bright in their decisions as of late.

Gas jumped up here by 10 cents over night. Groceries are higher, Afghanistan is turning into a mess, the US/Mexican border is getting worse, Covid-19 is rising all across the United States and it seems the Dems are hell bent on telling us all is going well. If it gets much better we will be in lockdown during a recession.

America is sliding off a cliff and most Americans don't realize it!
Still, it is a good day to be alive.

 

[surada]

Is that why oil prices were so low under Trump?

Under Obama production soared because the ppb was high. They had the highest rig count in 44 years. When the ppb is high the oil companies invest in production.

Oil prices were steady until 2020 when covid knocked out demand world wide.

But we are still importing 7-8 million bpd. We are NOT oil independent.

 

[surada]

If global warming was real, Biden wouldn't be begging others to pump more fossil fuels.

Biden is trying to bring the price at the pump down a bit. OPEC cut capacity last year because of covid.

 

[Colin norris]

from energy independent to dependent on others.. way to Biden voters.

If we can believe the supply is oil is finite, it makes great sense to use somebody else's first.

 

[Ray From Cleveland]

Gas jumped up here by 10 cents over night. Groceries are higher, Afghanistan is turning into a mess, the US/Mexican border is getting worse, Covid-19 is rising all across the United States and it seems the Dems are hell bent on telling us all is going well. If it gets much better we will be in lockdown during a recession.

Yes but they are addressing these problems. They're creating a 1/6 commission.

 

[Ray From Cleveland]

View attachment 527168

Good. I hope it goes up to $6.00 a gallon. I also hope the people it hurts the most are Biden voters.

 

[TheGreatSatan]

Biden is trying to bring the price at the pump down a bit. OPEC cut capacity last year because of covid.

First, if you believe in global warming, you want higher fuel prices.

Second, if you want lower fuel prices, you wouldn't attack domestic energy production.

 

[surada]

First, if you believe in global warming, you want higher fuel prices.

Second, if you want lower fuel prices, you wouldn't attack domestic energy production.

There has been no attack on domestic oil production. Companies buy up or take options on Federal oil leases for years and some never drill.

 

[Ken Mac]

I gave an earlier example. When oil went to $150 a barrel it wasn't because of supply and demand.

We had tankers sitting full because there was nowhere for them to offload

that was because refiners couldn't keep up (lower supply) Doesn't matter how much oil you have waiting. It's refining capacity that drives the market if they can't keep up.

 

[surada]

that was because refiners couldn't keep up (lower supply) Doesn't matter how much oil you have waiting. It's refining capacity that drives the market if they can't keep up.

Things have been slow to return to normal since Hurricane Ida. Most news outlets are reporting the details.

 

[pknopp]

that was because refiners couldn't keep up (lower supply) Doesn't matter how much oil you have waiting. It's refining capacity that drives the market if they can't keep up.

Which does nothing to explain oil at near $150 a barrel. Oil, not gas, oil.

 

[Ken Mac]

Which does nothing to explain oil at near $150 a barrel. Oil, not gas, oil.

Really? Reduced supply because refiners were at 100% capacity and couldn't keep up with demand?
Go take some economic classes, please.

 

[pknopp]

Really? Reduced supply because refiners were at 100% capacity and couldn't keep up with demand?
Go take some economic classes, please.

Oil tankers were sitting full. You are simply making crap up. Oil did not get to near $150 over demand. It got there because of an irrational market.

 

[surada]

Oil tankers were sitting full. You are simply making crap up. Oil did not get to near $150 over demand. It got there because of an irrational market.

Energy broker Matthew Simmons was also promoting the old Peak Oil ruse.

 

[Ken Mac]

Oil tankers were sitting full. You are simply making crap up. Oil did not get to near $150 over demand. It got there because of an irrational market.

Oil and Refineries

Crude Oil Prices Charts. Latest News on Oil, Energy and Petroleum Prices. Articles, Analysis and Market Intelligence on the Oil, Gas, Petroleum and Energy Industry. Accurate Oil Price Forecasts

www.oil-price.net

Maybe you can learn something. But, only if you're willing to read it.

 

[pknopp]

Oil and Refineries

Crude Oil Prices Charts. Latest News on Oil, Energy and Petroleum Prices. Articles, Analysis and Market Intelligence on the Oil, Gas, Petroleum and Energy Industry. Accurate Oil Price Forecasts

www.oil-price.net

Maybe you can learn something. But, only if you're willing to read it.

An oil promoting site defending the price? Imagine that. When there is a glut the price does not go up because there is no way to use it up.

There was also absolutely no shortage of gas at the time. No, there might not have been enough processing capabilityto use all that oil but there was plenty to meet demand.

As the Saudi's said at the time it was because of the markets irrational exuberance.

 

[BlindBoo]

what happened after '16? Did US get oil independence under OBama? What is your point on $71.32?
I completely missed what is your point?

We never achieved oil independence.

 

[surada]

after Biden limited US oil production making the US no longer energy independent he actually asks OPEC to produce more oil ! wow ! just wow ! so much for the lefts climate change bull to limit fossil fuel use ! ‘Pathetic and embarrassing’: Biden asks OPEC to up oil output while limiting U.S. energy production

US shale producers won't increase production either. Not Even at $200 a Barrel: U.S. Shale Giants Swear They Won't Drill More - Energy News for the Canadian Oil & Gas Industry | EnergyNow.ca

 

[Harpy Eagle]

after Biden limited US oil production making the US no longer energy independent he actually asks OPEC to produce more oil ! wow ! just wow ! so much for the lefts climate change bull to limit fossil fuel use ! ‘Pathetic and embarrassing’: Biden asks OPEC to up oil output while limiting U.S. energy production

Perhaps if the US had not forced them to cut production in 2020 this would not be necessary.

 

[surada]

This article needs it's own thread and I can't do it from my tablet. Not Even at $200 a Barrel: U.S. Shale Giants Swear They Won't Drill More - Energy News for the Canadian Oil & Gas Industry | EnergyNow.ca