Biden Got Us Into This Oil Price Mess

[ColonelAngus]

Isnt Putin just selling to China who is selling to Europe?

I dont know how effective the world hasbeen at crushing the Russian economy.

 

[BluesLegend]

Worst shut down ever. The US is currently the world leader in oil production. Cancel the Saudi's military contracts and let them deal with the Islamic Crazies in Iran the best they can without us, if they want to hurt Americans.

I'll cut through your lies, I paid $5.89 a gallon for Biden/Dem gas today fool. The pump cut off at $125 before my tank was even full.

 

[BlindBoo]

I'll cut through your lies, I paid $5.89 a gallon for Biden/Dem gas today fool. The pump cut off at $125 before my tank was even full.

That has everything to do with OPEC+, because while we are the number one producer right now, we also use a lot more than we produce, mostly for transportation.

 

[BlindBoo]

No we aren't.

The US is the world’s biggest oil producer — so why do we still need to import crude and ask countries like Saudi Arabia for help?

We’re supposed to be energy independent. What gives?

www.yahoo.com

 

[The Duke]

"all to avoid domestic oil production"

That's what this is all about.

And for what reason?

I can't think of anything positive or helpful.

The goal is to get the world to move away from the American petrodollar and make everyone in America 15% poorer instantly.

That is why they are doing this. Among other Cloward-Piven schemes.

The general welfare of Americans is what they are waging war against.

 

[AntonToo]

Clear for even a room temperature IQ Democrat to understand why.
View attachment 705983

Ignoramus new leases do not produce even a drop of oil for years.

Developing New Oil and Gas Fields​

While new wells in developed reservoirs can be drilled and brought online in a matter of months, timelines for production from new fields stretch for years because they have complex permitting requirements and require the construction of infrastructure such as pipelines and storage facilities.

One study found the world's largest oil and gas fields averaged 5.5 years from discovery to first production and took 17 years of production on average to reach peak output.

Oil and Gas Production Timelines

Discover the process of energy production and learn how long it typically takes to move an oil and gas well from the drawing board to production.

www.investopedia.com

 

[Indeependent]

One contard please post the data for the last 6 years and specifically show domestic PRODUCTION

More lease mean zero when we already have leased land that is not being drilled YET how can you contards deny the PRODUCTION

MORE leases is like Jay Leno getting another car for his garage.

Sorry to inform you of the fact that potential drives the market, not restriction.

 

[Indeependent]

Ignoramus, new leases do not produce even a drop of oil for years.

Potential, not restriction.

 

[The Duke]

Potential, not restriction.

I have a cousin that that's his job: Find potential oil sources. Worldwide.
That's the one that got hurt playing soccer a few years back. I had to say: "Dumbass, how old are we now, and you're playing soccer?"

His mom approved.

Yeah, I'm not going out there and playing tackle football these days. I certainly have in the past.

 

[AntonToo]

Potential, not restriction.

Horseshit, short term futures trading based on supply and demand technicals drives the market, not new leases.

 

[Indeependent]

Horseshit, short term futures trading based on supply and demand technicals drives the market, not new leases.

Show me where I posted new leases.
Potential, not restriction.
Banks and Brokerage firms love Potential.

 

[Moonglow]

This is 2022.

And biden is draining our oil reserves

Good, it goes bad if it sits too long.

 

[maybelooking]

Haven't paid more than $3.19 in a month. You must live in a red state.

I paid 1.07 at one time under Trump in my red state.

 

[Moonglow]

I paid 1.07 at one time under Trump in my red state.

Yeah, until he convinced oil producing nations to cut production.

 

[surada]

It was 11.1 mbbl/day in 2020. A 1.7mbbl/day in 3 years is not significant. We could have easily almost doubled production but this is what happens when an admin totally ignorant and incompetent of energy takes over.

Check your numbers. Demand was down world wide in 2020. A glut of oil on the market drives the ppb down and kills investment in increased production capacity.

 

[surada]

Yeah, until he convinced oil producing nations to cut production.

That was April 2, 2020.

 

[Mac-7]

Good, it goes bad if it sits too long.

You should know better than that

But maybe you dont

 

[Weatherman2020]

Why should oil companies make huge profits off of public lands?

Do you really think they will give us a break on the price of gas if we let them drill on our lands?

So you give money to terrorists instead.
Now go look up what ‘Lease’ means.

 

[Weatherman2020]

Ignoramus new leases do not produce even a drop of oil for years.

Developing New Oil and Gas Fields​

While new wells in developed reservoirs can be drilled and brought online in a matter of months, timelines for production from new fields stretch for years because they have complex permitting requirements and require the construction of infrastructure such as pipelines and storage facilities.

One study found the world's largest oil and gas fields averaged 5.5 years from discovery to first production and took 17 years of production on average to reach peak output.

Oil and Gas Production Timelines

Discover the process of energy production and learn how long it typically takes to move an oil and gas well from the drawing board to production.

www.investopedia.com

Discovery is not an issue. We know where the oil is in America. It’s even creating oil slicks on our coast.

Natural Oil Seepage Off California Coast

An oil slick from naturally occurring oil seeps off the coast of Santa Barbara, California. The Marine Oil Spill Thickness (MOST) project can detect the thickest oil in a slick.

www.jpl.nasa.gov

 

[rightwinger]

So you give money to terrorists instead.
Now go look up what ‘Lease’ means.

Which is not true and has nothing to do with drilling on public lands