Biden's Deficit is lower than every Trump year (through May)

[22lcidw]

From the debate? That’s weak sauce. Like I said. Biden supports developing alternatives to oil. He’s done nothing to blow up the industry. It’s fear being displayed by you. I think Biden said “Solar and wind companies stand back and stand by!” Oh wait, that was something else.

He tied one arm behind their back as politicians can do. Climate people and Environmental people need to be eliminated.

 

[citygator]

No, they reflect the shitty job he is doing.

No they reflect OPECs output level. Genius.

 

[citygator]

He tied one arm behind their back as politicians can do. Climate people and Environmental people need to be eliminated.

Nope. So disingenuous. I don’t think you guys are very smart. Anyway you could please back up your statements?

New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%

Center for Biological Diversity: Thousands of Permits OK’d Despite President’s Authority to End Drilling by 2035

biologicaldiversity.org

 

[Toddsterpatriot]

Nope. So disingenuous. I don’t think you guys are very smart. Anyway you could please back up your statements?

New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%

Center for Biological Diversity: Thousands of Permits OK’d Despite President’s Authority to End Drilling by 2035

biologicaldiversity.org

Lots of permits. AWESOME!

Any new regulations that made drilling more difficult, more expensive with more red tape?

 

[citygator]

Lots of permits. AWESOME!

Any new regulations that made drilling more difficult, more expensive with more red tape?

I got one for you.. are you able to read this chart? I’m gonna unleash it on the gas thread. Let me know if you get it.

 

[Toddsterpatriot]

I got one for you.. are you able to read this chart? I’m gonna unleash it on the gas thread. Let me know if you get it.

View attachment 661476

Thanks!
Where on that chart are the higher prices that are gonna cost the Dems 40 or 50 seats?

 

[mudwhistle]

I got one for you.. are you able to read this chart? I’m gonna unleash it on the gas thread. Let me know if you get it.

View attachment 661476

I wonder if you understand anything about how the price is set in the market.
Have you ever heard of Oil Futures before?

Do you understand that projections for drilling go several years out....and when someone cuts off new drilling permits it effects the price of Oil Futures. But it doesn't matter how much oil production there is if the feds make the permit and production costs skyrocket on purpose.....which is what Biden has done.

How Long Does It Take to Drill and Produce Oil?

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

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.10 Chevron Corporation's (CVX) Gorgon natural gas development project off the coast of Australia took 30 years to progress from discovery to construction and nearly six more years to start producing liquefied natural gas.11

Growth Constraints on Oil and Gas Production​

Even the shorter timelines for adding oil and gas production from developed fields assume the availability of inputs such as labor and equipment. That availability became increasingly constrained amid supply chain disruptions and tight labor markets in the wake of the COVID-19 pandemic.

In the Permian Basin, the top U.S. production reservoir, delivery delays for materials including pipes and sand were slowing production growth in March 2022, according to Occidental Petroleum Corporation (OXY) Chief Executive Vicki Hollub.12




The tight labor market pushed up annual wage inflation for oil & gas support workers to nearly 11% as of December 2021.2


Because oil and gas drilling is so capital intensive the availability of capital is another constraint on output. That's especially true for shale, in part because production from shale wells slows faster than from conventional ones. That means more wells must be drilled constantly just to offset the production declines from those already on line.13




In the wake of abrupt energy price declines in 2014 and 2020, investors turned skeptical of capital spending beyond that needed to keep production steady, rewarding companies that returned excess cash flow in dividends or share repurchases. That preference persisted even as oil and gas prices soared in early 2022.14


The limited inventory of sufficiently lucrative drilling locations serves as another constraint on oil and gas production growth, and was already evident in the Permian in 2022.15

The Bottom Line​

Producing oil and gas is a complex, long and costly process. As a result, supply is slow to respond to price signals. U.S. drillers face additional production growth constraints because production from shale wells declines more rapidly.

 

[citygator]

I wonder if you understand anything about how the price is set in the market.
Have you ever heard of Oil Futures before?

Do you understand that projections for drilling go several years out....and when someone cuts off new drilling permits it effects the price of Oil Futures. But it doesn't matter how much oil production there is if the feds make the permit and production costs skyrocket on purpose.....which is what Biden has done.

How Long Does It Take to Drill and Produce Oil?

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

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.10 Chevron Corporation's (CVX) Gorgon natural gas development project off the coast of Australia took 30 years to progress from discovery to construction and nearly six more years to start producing liquefied natural gas.11

Growth Constraints on Oil and Gas Production​

Even the shorter timelines for adding oil and gas production from developed fields assume the availability of inputs such as labor and equipment. That availability became increasingly constrained amid supply chain disruptions and tight labor markets in the wake of the COVID-19 pandemic.

In the Permian Basin, the top U.S. production reservoir, delivery delays for materials including pipes and sand were slowing production growth in March 2022, according to Occidental Petroleum Corporation (OXY) Chief Executive Vicki Hollub.12




The tight labor market pushed up annual wage inflation for oil & gas support workers to nearly 11% as of December 2021.2


Because oil and gas drilling is so capital intensive the availability of capital is another constraint on output. That's especially true for shale, in part because production from shale wells slows faster than from conventional ones. That means more wells must be drilled constantly just to offset the production declines from those already on line.13




In the wake of abrupt energy price declines in 2014 and 2020, investors turned skeptical of capital spending beyond that needed to keep production steady, rewarding companies that returned excess cash flow in dividends or share repurchases. That preference persisted even as oil and gas prices soared in early 2022.14


The limited inventory of sufficiently lucrative drilling locations serves as another constraint on oil and gas production growth, and was already evident in the Permian in 2022.15

The Bottom Line​

Producing oil and gas is a complex, long and costly process. As a result, supply is slow to respond to price signals. U.S. drillers face additional production growth constraints because production from shale wells declines more rapidly.

The price of oil is set by supply and demand. When oil was negative dollars during Covid were people predicting there would be more drilling in the future? We’re they predicting demand would be low forever? No. They had too much fucking oil right then and had nowhere to go with it. Thus they paid people to take it. Now.. there isn’t enough oil and I showed we are producing more while OPEC less. Stop being stupid. It’s embarrassing.

 

[mudwhistle]

The price of oil is set by supply and demand. When oil was negative dollars during Covid were people predicting there would be more drilling in the future? We’re they predicting demand would be low forever? No. They had too much fucking oil right then and had nowhere to go with it. Thus they paid people to take it. Now.. there isn’t enough oil and I showed we are producing more while OPEC less. Stop being stupid. It’s embarrassing.

You've done none of that.
You're just looking at a misleading graph that you don't even know is even real.....and doesn't tell the whole story even if it was.