I know what fungible means. WTI is always higher than OPEC price basket.
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Biden crushes US oil industry and Russia profits from it
- Thread starter Not a Monkeys Uncle
- Start date
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The US has the highest production costs in the world and no economies of scale.
easyt65
Diamond Member
- Aug 4, 2015
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So your answer to my question is 'Yes'?
BluesLegend
Diamond Member
Hell Biden is out there today bragging that he's convinced the Saudi's to pump more oil.
Most US wells produce less than 50 barrels a day. So the crude has to be stored and transported multiple times before it ever reaches a pipeline or refinery.
That's nice.
BluesLegend
Diamond Member
Breaking: Biden gas prices still climbing. Biden administration now in a panic to bring down the price as their approval numbers tank.
yep, and we really should figure how why the production cost are so high.....
Because most wells produce less than 50 barrels a day.
thst just means. they produce less, we were talking about production cost
They still use pump jacks.. no gas injection to keep pressure up. ... and they have to duplicate services for every low production well.
so we need better equipment?
what about taxes, regulations, cost of leases, labor cost etc. You know cost of production
Other countries have all the same costs but their wells might produce 300- 500 bpd and they don't "pump" oil.
g5000
Diamond Member
- Nov 26, 2011
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How is Biden getting rich off this? Explain.
As for Russia profiting:
Russia faces its biggest economic collapse since Putin's rise to power | Fortune
Sanctions mean the country's central bank expects GDP will shrink as much as 10% this year, the worst decline since 1994.
Trump lied to you. In 2019 we imported 9 million bpd. We weren't energy independent. We're going through a real bad patch. Pull up your socks and act like a man.
Damn you're stupid.
Markle
Diamond Member
Where did I ever say we did not import oil during the tenant in your head's administration?We imported oil in 2019.
In 2019 we imported 9 million bpd. Don't you know by now that Trump is a pathological liar?
The U.S. Still Imports A Lot Of Oil
In the shale-era since 2008, U. S. crude oil production has boomed 160% to over 13 million b/d, while demand has remained flat. Yet still, the country imports more oil than most Americans may realize.www.forbes.com
What were the years your rent-free tenant was in office?
Where did I ever say we did not import oil during the tenant in your head's administration?
What were the years your rent-free tenant was in office?
ad's administration?
Just when do you think we were energy independent?
Markle
Diamond Member
And yet, the OIL sells for the same market rate. Who knew?
easyt65
Diamond Member
- Aug 4, 2015
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You really think we are better off now under Biden?
The left wing radicals sold you a bill of goods about replacing planes with solar powered high speed trains, upgrading, or replacing, every building in the US up to 'green standards, and relying on wind, water, solar, & energy sources THAT HAVE NOT BEEN INVENTED YET. WTF?!
-- All from AOC's Green New Deal prior to the election.
These same assholes know without those non-existent new energy sources the US can't simply switch instantly to green energy, that we will have to rely on fossil fuel until we can make the SMOOTH TRANSITION.
Still, they manipulated their puppet, Joe, getting him to initiate a mandatory FORCED transition ... that we are not ready for. Again, they already knew this, that we still need oil. Instead of using our own resources, our own drillers, our own workers, etc...
...they decided to lay off workers, suspend oil leases, cancel pipelines, and start supporting our enemies governments by buying their oil, begging nations who had a hand in 9/11 and who have called for our destruction to sell us oil....and you stupid fuckers think it's such a great policy.
As prices skyrocket Biden begins to panic a little, he thinks an extremely short term solution is THE solution and starts emptying our emergency reserves...and again you ignorant fuckers applaud and defend him.
Since they knew to make a SMOOTH transition we needed oil, again, Biden could have reduced the pain Americans felt by continuing to use our own resources and people. Not good enough for the radicals.
They chose the 'shock-and-awe' FORCED transition that has exploded the cost of gas, damaged the economy, and caused more pain for low/middle income families, severely hurt farmers, truckers (as if the supply chain problem they created wasn't bad enough), drained our reserves ... and still you ignorant fuckers defend his failed, America-last policies.
Biden, Buttigieg, and others even told you their plan was to FORCE Americans to buy electric cars by raising the price of gas to $10 - $15 a gallon.
'Hey you lower middle class Americans, If you can't afford the price of gas, go out and buy a $60,000 electric car!'
- WTF?!
Recently Biden signed an executive order badically outlawing the internal combustion engine in 2030. He also signed an order that mandates a total forced switchover if the nation to alternate, non-fossil fuel energy sources by 2035.
** I guess scientists had better get busy working on discovering those alternate energy sources THAT DON'T EXIST YET!
And somehow the green leftist extremists have convinced you ignorant fuckers that we could save the planet if WE didn't drill / produce our own energy, that having some OTHER country produce it and sell it to us, ship it half way around the world on diesel-sucking, carbon belching ships would not count / effect the planet. Again, WTF?!
-- The groups that began this nonsense was proven to be European groups funded heavily by Putin. Save the planet? No, Putin helped these groups convince you ignorant fuckers to fund his govt and fund his military attempt to reform the USSR while having the US destroy itself. The US caused the collapse of the Soviet Union through the 'Cold War'. Now Putin is getting even by having the US destroy itself with this Green New Deal shit.
The same corrupt, criminal, seditious traitors who have sold you on the idea that this is a great policy and is good for America include a dementia-ravaged compromised criminal puppet, a radical bar tendress who conned her way into Congress, Insider Traders, etc... who fly to Climate Change conferences on private jets, who own multiple houses - some using more energy than small towns, and who don't mind rolling black-outs across America this summer because of their policies.
And you attempt to tell me to 'man up', act like an adult?!
You have proven yourself to be an ignorant, easily deceived, naive, blindly following child whose loyalty has been trained to be for a party instead of country.
Your immature arrogance in telling others you can see what is best for the country while ignoring what it has done and how it is hurting lower and middle classes in favor of radical extremists and elitists who act and operate above the law is truly mind-numbing but a testament to how well Democrats have become at lying to and creating sheep.
Go away, lil' snowflake. Go peddle your lies and ignorance to your fellow sheep. I have neither the time nor patience for an ignorant sheep who thinks his masters have the best interests of the American people or this nation at heart when his every action, his every policy, has created more and more damage.
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