Biden has been better for the oil companies than the right will admit

[AzogtheDefiler]

The same ones that Trump, Obama, W, HW and the rest of them gave them.

What is the primary factor that drives oil prices?

 

[jknowgood]

Apparently the HUGE profits the oil companies are getting wasn't enough to convince the right that Biden and the oil companies are pulling the wool over their eyes.

So let's approach this from another angle. The oil bust hit and oil production started dropping while Trump was in office. Biden comes in an allows a record number of drilling permits to existing oil leases. Oil companies continued with their scheduled bust cycle, regardless of the 3500 DRILLING permits they were given by BLM.
So now, production is low. Prices are high. And the oil companies stand to rake in even more savings and profits from the oil subsidies the BIDEN administration will be paying them.


View attachment 646997

No matter how you try to sugar coat it. Biden is a failure.

 

[YoursTruly]

What is the primary factor that drives oil prices?

There's not just one primary factor. There's several that only work if the other factors align.

 

[Toddsterpatriot]

The same ones that Trump, Obama, W, HW and the rest of them gave them.

No specifics?

 

[YoursTruly]

No specifics?

Charted: $5 Trillion in Fossil Fuel Subsidies (2010-2021)​

Also, this bill went no where.

H.R.2184 - End Oil and Gas Tax Subsidies Act of 2021​

 

[Flash]

The same ones that Trump, Obama, W, HW and the rest of them gave them.

The stupid Moon Bats are often confused about this. What they call "subsidies" are usually the same legitimate business tax deductions that everybody else gets.

Oil exploration is a high risk operation. If the oil companies had to pay the filthy Federal corporate tax on the money it spent to find and get the oil to market then the cost would be much higher to the consumer.

 

[Bootney Lee Farnsworth]

Apparently the HUGE profits the oil companies are getting wasn't enough to convince the right that Biden and the oil companies are pulling the wool over their eyes.

So let's approach this from another angle. The oil bust hit and oil production started dropping while Trump was in office. Biden comes in an allows a record number of drilling permits to existing oil leases. Oil companies continued with their scheduled bust cycle, regardless of the 3500 DRILLING permits they were given by BLM.
So now, production is low. Prices are high. And the oil companies stand to rake in even more savings and profits from the oil subsidies the BIDEN administration will be paying them.


View attachment 646997

I 100% admit that Biden has been glorious for Aggie Football...


...to the point where Nick Saban was so triggered, he ran his mouth about off and had to apologize

 

[Toddsterpatriot]

Charted: $5 Trillion in Fossil Fuel Subsidies (2010-2021)​

Also, this bill went no where.

H.R.2184 - End Oil and Gas Tax Subsidies Act of 2021​

Global subsidies? We're talking about the US.

They want to end the tax deduction for business expenses?
Deducting expenses isn't a subsidy.

 

[AzogtheDefiler]

There's not just one primary factor. There's several that only work if the other factors align.

??

 

[AzogtheDefiler]

There's not just one primary factor. There's several that only work if the other factors align.

They are based on futures and forecasted production/usage. When you had a president like DJT, companies knew that he was pro drilling, energy independence and such so they invested heavily into exploration, drilling, refining, etc. OPEC took his calls and the price was reasonable. With Biden, who can cancel billions that may be invested in exploration via one EO, companies are reticent to invest and OPEC won’t take his calls so prices are insane. $5 per gallon in MA. That is the primary factor and why under DJT this would not have happened.

You’re welcome

 

[BluesLegend]

Biden has been better for the oil companies than the right will admit

Yeah man it's going great under Biden, oh wait $6 gas

 

[eagle1462010]

Yeah man it's going great under Biden, oh wait $6 gas

This clown was shoveling he was a conservative trying to say the Conservatives need to vote 3rd party.....

He's a troll for the left...............Vote 3rd party so the left can win..........That is his mission.

BTW . How do you like my new siggy?

 

[BluesLegend]

This clown was shoveling he was a conservative trying to say the Conservatives need to vote 3rd party.....

He's a troll for the left...............Vote 3rd party so the left can win..........That is his mission.

BTW . How do you like my new siggy?

The left is growing desperate. Their policies have been a shit show and the American people are pissed at Biden and the Dems. Notice how the entire left has shut up about climate change since gas skyrocketed in price.

 

[JWBooth]

End the sanctions and get the oil flowing.

 

[surada]

They are based on futures and forecasted production/usage. When you had a president like DJT, companies knew that he was pro drilling, energy independence and such so they invested heavily into exploration, drilling, refining, etc. OPEC took his calls and the price was reasonable. With Biden, who can cancel billions that may be invested in exploration via one EO, companies are reticent to invest and OPEC won’t take his calls so prices are insane. $5 per gallon in MA. That is the primary factor and why under DJT this would not have happened.

You’re welcome

Nope. They didn't. They invested in exploration, drilling and new rigs during the Obama years. Trump was just coasting on the success of the oil companies. Why do you think Trump asked OPEC to cut production? At least Trump tried to protect our domestic producers when oil got a too cheap.

 

[Toddsterpatriot]

They invested in exploration, drilling and new rigs during the Obama years.

After Obama said we can't drill our way to lower prices?

 

[surada]

After Obama said we can't drill our way to lower prices?

They stop development when the ppb is low. The US has the highest lift costs in the world so when the price goes down it hits our domestic producers first. Obama knows that.

 

[AzogtheDefiler]

Nope. They didn't. They invested in exploration, drilling and new rigs during the Obama years. Trump was just coasting on the success of the oil companies. Why do you think Trump asked OPEC to cut production? At least Trump tried to protect our domestic producers when oil got a too cheap.

That is simply not true. You must not understand English well. The reason prices were low under Trump was due to the factors that I succinctly explained. It would not make sense if it was due to Obama as Obama was no longer in office. As you see with Biden now it can shift quickly. Are you ever not a complete idiot? Wow!

 

[surada]

That is simply not true. You must not understand English well. The reason prices were low under Trump was due to the factors that I succinctly explained. It would not make sense if it was due to Obama as Obama was no longer in office. As you see with Biden now it can shift quickly. Are you ever not a complete idiot? Wow!

When Obama was president every oilman borrowed money and went to work. There was no surge of activity or investment when Trump took office. You're rude enough, but you don't know much about the oil business.

 

[AzogtheDefiler]

When Obama was president every oilman borrowed money and went to work. There was no surge of activity or investment when Trump took office. You're rude enough, but you don't know much about the oil business.

Oil is traded on futures and under Trump the future was bright. So prices were low and we were energy independent. You disagree that oil prices are based on futures? I want this on record, “oil brat”.