Biden Got Us Into This Oil Price Mess

[Flopper]

Joe Biden is the person who made us dependent on foreign oil, Boo! He's had to go hat in hand to the Saudis and the Iranians and BEG them to produce enough oil when two years ago we were producing so much oil and natural gas that we were a net exporter. You can TRY to blame this on the GOP but anyone with even a barely functioning brain is going to see right through that happy horseshit! The progressives wanted a war on fossil fuels and they didn't give a daif it increased costs for Americans! They OWN that!

The US will always be dependent on foreign oil because we can’t produce enough heavy crude to meet our needs. And even not considering heavy crude we sill still to need to import oil

 

[Richard-H]

For what reason? If you make gasoline unavailable, people don't have the freedom to drive. That's how they are making the world green. No more cows or cars means a green world! Who needs freedom and beef?

Driving is a privilege, not a right. Ask any judge.

 

[Richard-H]

If gas prices were too high, we wouldn't have traffic jams....

 

[Indeependent]

I did read that, man, it must have been one hell of a "system". Was it used to calculate forward oil prices? I mean if you included lease sales on public lands you must have included the price of coffee in Brazil as well. The amount of oil produced on public lands has been declining for decades, even under the Trump administration. Few of the leases are even used, and even at that, it will be a decade until any oil is flowing from them. A hell of a lot can happen in a decade.

These systems were developed to manage the industries that would eventually arise from the existing opportunities.
Are you arguing that AT&T should have waited until they had an infrastructure up to develop a system?
If you are, you're not too bright.

 

[Oldestyle]

The US will always be dependent on foreign oil because we can’t produce enough heavy crude to meet our needs. And even not considering heavy crude we sill still to need to import oil

If we produce enough oil and natural gas it keeps the world wide energy market prices low enough that economies all over the planet will thrive. If we don't then we'll continue to see run away inflation not only here but in other nations as well. With that we'll see instability and conflict.

 

[Couchpotato]

Really? so whats this?


Just say straight up - do you or do you not agree that it takes considerable time to actually get oil out of the ground from new Federal leases?

It does. It also take a huge initial investment with a potential for huge returns far into the future. But that investment doesn’t happen if the market thinks the policy toward oil is such that the payout won’t happen even if they do find the oil. Thats problem with the schizophrenic way we set energy policy. The investment is likely to span at least 2 admins and possibly 3. Investing in oil right now is like playing craps with all the risks craps has with the added risk that the casino might show up and tip over the table in the middle of the game. Many investors are choosing to sit out, which means less development, which means less oil.

 

[Winston]

These systems were developed to manage the industries that would eventually arise from the existing opportunities.
Are you arguing that AT&T should have waited until they had an infrastructure up to develop a system?
If you are, you're not too bright.

Like I thought, you may very well have worked with those "systems", but they didn't have a damn thing to do with future or present oil or gasoline prices. Mostly because if that were true you wouldn't have called it a "system", you would have called it a "model". You have been talking out of your ass. I can tell you, from professional experience, gasoline prices are determined strictly by CURRENT supply and demand, PERIOD. Gasoline is actually a perishable product, and with differing blends for winter and summer, prices must be manipulated to control demand. Too cheap, you run out before you can be resupplied, not good. Too expensive, you have excess inventory that you have to sale at lower prices or eat, not good either. It is comical to believe that rather or not government leases are sold, which have a low chance of even being developed and even at that, cannot possibly affect supply for more than ten years, have any bearing on current gasoline prices. Just chalk it up to another example of how the supporters on the right don't think. And the politicians, they are using that and laughing behind your back. Sad really.

 

[Indeependent]

Like I thought, you may very well have worked with those "systems", but they didn't have a damn thing to do with future or present oil or gasoline prices. Mostly because if that were true you wouldn't have called it a "system", you would have called it a "model". You have been talking out of your ass. I can tell you, from professional experience, gasoline prices are determined strictly by CURRENT supply and demand, PERIOD. Gasoline is actually a perishable product, and with differing blends for winter and summer, prices must be manipulated to control demand. Too cheap, you run out before you can be resupplied, not good. Too expensive, you have excess inventory that you have to sale at lower prices or eat, not good either. It is comical to believe that rather or not government leases are sold, which have a low chance of even being developed and even at that, cannot possibly affect supply for more than ten years, have any bearing on current gasoline prices. Just chalk it up to another example of how the supporters on the right don't think. And the politicians, they are using that and laughing behind your back. Sad really.

A Model is a presentation, which is only one feature of a system.
There is not corporation on earth where models are confined to their own software suite.

 

[Weatherman2020]

It's exception, not the rule.

You are lying by taking a tiny % of Federal lands that could possibly be leased that have something like that and are trying to present it as what is normally expected.

Takes a total liar or moron to believe there’s no oil in America we know is not tapped.

Or are you C, all of the above?

 

[AntonToo]

Takes a total liar or moron to believe there’s no oil in America we know is not tapped.

Or are you C, all of the above?

.....everyone in this thread, left right and center is saying you are full of shit and you can't take a hint?

 

[Weatherman2020]

.....everyone in this thread, left right and center is saying you are full of shit and you can't take a hint?

Liar.
Everyone knows Brandon got us into this mess.
We went from energy independence to being slaves of Islam in less than 2 years under Democrats.

 

[surada]

If we produce enough oil and natural gas it keeps the world wide energy market prices low enough that economies all over the planet will thrive. If we don't then we'll continue to see run away inflation not only here but in other nations as well. With that we'll see instability and conflict.

The US has the highest production costs in the world.

 

[surada]

Liar.
Everyone knows Brandon got us into this mess.
We went from energy independence to being slaves of Islam in less than 2 years under Democrats.

My God, you're stupid. Oil production has nothing to do with Islam.

 

[Weatherman2020]

My God, you're stupid. Oil production has nothing to do with Islam.

And you call me stupid!!!!

 

[Weatherman2020]

The US has the highest production costs in the world.

Paid 99 cents under Trump.

 

[surada]

Paid 99 cents under Trump.

Yes, and over 200 domestic producers declared bankruptcy. When the ppb goes low no one invests in exploration and drilling.

 

[surada]

Paid 99 cents under Trump.

Over 200 domestic producers declared bankruptcy in 2020. When the ppb goes low it kills investment in exploration and drilling. Are you familiar with Ghawar, Manifa, Shayba???

 

[BlindBoo]

If we produce enough oil and natural gas it keeps the world wide energy market prices low

No we don't. OPEC+ just proved that. They like selling oil at 100 dollar a barrel. 2 mbd is a small % of their output. For the US that is nearly 20%.

Why are Trumps buddies doing that to Americans?

 

[hadit]

You people are so damn gullible, I mean it is mind numbing. I could sell you dehydrated water. What damn fools. Two million acres of public land leases EXPIRED last year. The oil companies can go for the next ten years on leases they already have. And quite honestly, you don't sell into a bear market. Guess what, no one was showing up for the auctions the government did have. Trump learned that the hard way, getting like ten cents on the dollar of what is expected.

As has been pointed out in this thread, domestic oil production will hit a new high within the next few months. 2023 will be a record breaking year. And who is president? The reality is you morons need to pull your head out of your ass and do some damn research. If nothing else, study history. The US instigated an oil embargo in the 1970's and the result was a flight to the bottom, oil prices dropped to ten bucks a barrel, and the domestic industry was decimated. America first, ain't that the matra--well live it you stupid shits. Damn, we export oil, WTF--get a grip you fools.

Oil and Gas Companies Are Lying About How Much Oil They Control on U.S. Public Lands

The oil industry already has at least 10 years’ worth of unused leases at its disposal, even with the leasing pause.

www.americanprogress.org

Leases are only as valuable as the oil underneath them. What good does it do if the geology of a lease is unlikely to have oil under it?

 

[hadit]

No we don't. OPEC+ just proved that. They like selling oil at 100 dollar a barrel. 2 mbd is a small % of their output. For the US that is nearly 20%.

Why are Trumps buddies doing that to Americans?

Quid Pro's in charge. What's he doing to increase domestic production?