Biden's energy secretary laughs and cedes all control to OPEC when asked about oil prices

[Concerned American]

LOLOL.. We were still importing 5-7.5 million a day all during the Trump administration. Trump is a liar and a braggart who doesn't know anything about the oil business either. We use 20 million bpd under normal (non covid) circumstances and produce 10-13 million.. Tell me about your extensive experience in the oil business. Are you a driller, geologist, chemical engineer?

Still can't do simple math, eh? The US exported 8.5 MM bpd in 2020 and imported 7.86 MM bpd in 2020--that is .64 MM bpd more exported dumb ass. You just keep lying and you keep getting caught in those lies. Must be a Biden democrat. Lets go Brandon! FJB!

 

[Concerned American]

In 1985 Papa Bush begged OPEC to raise the ppb because domestic producers were going broke.

Reagan was POTUS in 1985 moron. Bush Sr. wasn't elected until 88. Showing your stupidity again. By the way, that wasn't even in the same century. Please keep up to date.

 

[Markle]

We all know Joe Biden is in bed with his middle eastern pals, but for his energy secretary to flat out laugh in the faces of people struggling to pay for gas right now is despicable. These people are garbage.

I saw that the first time and I had to rerun it a couple of times, I couldn't believe it was real.

Imagine she and Vice President Harris at the same party after a couple of drinks!

 

[Markle]

How is Biden or any president in control of oil production?

Jan 29, 2021,07:00am EST|33,955 views

How President Biden’s Executive Orders Impact The Oil Industry​

"Last week the administration also issued Secretarial Order No. 3395, which implemented a 60-day suspension of new oil and gas leasing and drilling permits for federal land and water."

"This week President Biden followed that action up with Executive Order on Tackling the Climate Crisis at Home and Abroad. The biggest takeaway from this order was an indefinite “pause on new oil and natural gas leases on public lands” until a comprehensive review on the climate change impacts can be completed."

How President Biden’s Executive Orders Impact The Oil Industry

When it comes to the impact on the oil industry, President Biden's recent executive orders weren't as scary as they looked.

www.forbes.com

Biden’s executive order on oil and gas drilling threatens ‘lifeblood’ of New Mexico economy

An oil and gas employee in New Mexico argued on Wednesday that President Biden’s order to halt new drilling on federal lands will "make oil and gas operators look at investing at other places.”

www.foxbusiness.com

Why do you want to act so ignorant?

 

[surada]

I never said "Free Republic" anywhere.

You sound like an FR poster.

 

[surada]

We became an exporter to a importer, explain that?

The US uses more oil than it produces. Nothing has changed about that.

 

[Markle]

One of the first real estate firms to fail was Thornburg Mortgages; they had nothing but premium high end mortgages with something like a .02 default rate. Not a bad or suspect loan in the entire holdings.

They were a tiny company that had nothing to do with the collapse in 2007.

 

[DudleySmith]

They were a tiny company that had nothing to do with the collapse in 2007.

Yes, they did; they collapsed as a result of what the rest of the market did, which was choke up and freeze because one of the small number of major players suddenly refused to accept their collateral, and then the other handful panicked and did the same, which in turn led to a collapse in asset valuations, which in turn led to the 'mark to market rule' causing calls on collateral for declining assets all across the markets; all of these companies were highly leveraged, some of the biggest at up to 50 to 1 on CDO's and derivatives. Goldman Sachs had been unloading their on their customers and saved themselves while ******* their customers and clients over dubious financial instruments they themselves practically invented. Thornburg started the chain reaction here in the States; UBS going to the wall started it in Europe. lol of course the propaganda PR is to blame 'the Democrats' for doing what the companies were bribing them to do in the first place. Thornburg was a 'botique' upscale outfit and bellweather.

It's never stupidly bad management or crooked morons and scammers, it's 'Democrats'. CEO's and stock market casino gamblers are all Jenyuses and hapless victims of evul guvmint n stuff whenever these bubbles bust.

 

[surada]

Companies signed a lot of drilling agreements based on Trump's attempts to export natural gas; the problem was these companies didn't want to spend any capital on on building pipeline capacity to handle it, they all jumped into options and derivatives markets, but they were still bound to all those drilling agreements, so the drilling kept going and going and going anyway, despite the glut and lack of any way to get it to market.

Meantime Europe went ahead with the Russian pipelines instead and left Trump's deals to die. As usual companies pay their right wing PR hacks to blame everybody but the stupid management who made the poor decisions and had no sense of logistics.

this is what happens when a country stagnates; social mobility disappears and you end up with a handful of people at the top and their kids and grandkids control the economy,a lot of stupid arrogant halfwits with high self-esteem running both the big monopolies and in their hired flunkies in Congress and the Senate, the same way inbred nobility wrecked Europe every 30 years or so when a new generation of inbred sociopaths inherited their armies and kingdoms,

Yep. Trying to force Europeans to buy more expensive US natural gas was a mistake.

 

[Markle]

The high gas prices came first and fed the flame of mortgage defaults

That's just goofy. More importantly, it has nothing to do with this thread.

 

[DudleySmith]

Jan 29, 2021,07:00am EST|33,955 views

How President Biden’s Executive Orders Impact The Oil Industry​

"Last week the administration also issued Secretarial Order No. 3395, which implemented a 60-day suspension of new oil and gas leasing and drilling permits for federal land and water."

"This week President Biden followed that action up with Executive Order on Tackling the Climate Crisis at Home and Abroad. The biggest takeaway from this order was an indefinite “pause on new oil and natural gas leases on public lands” until a comprehensive review on the climate change impacts can be completed."

How President Biden’s Executive Orders Impact The Oil Industry

When it comes to the impact on the oil industry, President Biden's recent executive orders weren't as scary as they looked.

www.forbes.com

Biden’s executive order on oil and gas drilling threatens ‘lifeblood’ of New Mexico economy

An oil and gas employee in New Mexico argued on Wednesday that President Biden’s order to halt new drilling on federal lands will "make oil and gas operators look at investing at other places.”

www.foxbusiness.com

Why do you want to act so ignorant?

It doesn't do a thing to stop drilling on private property, where the bulk of the fields are. That's why drill rig counts are almost double what they were this time last year.

 

[surada]

It doesn't do a thing to stop drilling on private property, where the bulk of the fields are. That's why drill rig counts are almost double what they were this time last year.

Yep.. That's true..

 

[Mac-7]

That's just goofy. More importantly, it has nothing to do with this thread.

The consequences of high gasoline prices have everything to do with this thread in a practical sense

Our clueless biden energy sec could start the domino's falling toward something far, FAR worse than a slight rise in global temps

 

[Nostra]

You sound like an FR poster.

You sound like an idiot.

 

[jknowgood]

The US uses more oil than it produces. Nothing has changed about that.

We were energy independent until pedo joe came along.

 

[surada]

BUSH SEES OIL GLUT UNDERMINING U.S.

Vice President George Bush and Saudi King Fahd said Sunday the world needs stable oil prices but, during a midnight session in the king`s chromed and carpeted palace, there was no agreement on how …

www.chicagotribune.com

 

[kaz]

US Production dropped 30% under Trump. Production is rising under Biden. Everybody knows it's easier to shut off a producing well than it is to restart it. But the shale oil sector is increasing in a big way. Every body wants a piece of the 80+ barrels.

It's called supply and demand, genius. Production fell under covid. I mean duh.

So you're seriously arguing that Biden caused production to go up while restricting oil production and Trump causes it to go down while loosening rules. You sir are a total imbecile. I mean you're the real thing. Wow.

Even better is how US companies can't turn on oil production ... but Joe is right that Saudis can. That's why Joe the genius wants them to do it. The laws of physics are different in the middle east than here.

Tell the truth, you were still born, weren't you?

 

[kaz]

LOLOL.. We were still importing 5-7.5 million a day all during the Trump administration. Trump is a liar and a braggart who doesn't know anything about the oil business either. We use 20 million bpd under normal (non covid) circumstances and produce 10-13 million.. Tell me about your extensive experience in the oil business. Are you a driller, geologist, chemical engineer?

Oil quiz for morons. Should we send

A) Oil in the middle of Canada to China and oil from Alaska to the United States

B) Oil in the middle of Canada to the United States and Oil in Alaska to China

surada: Well obviously A, are against "imports"

No you ******* drooling idiot, it's a global world and B reduces COST because we aren't shipping it as far.

You know ZERO about energy and you are a total ******* moron

 

[surada]

OMG that's funny. Of course we imported oil under Trump. You know zero about the oil industry.

surada: Duh, dar, hick, but kaz, companies should pay more for transportation costs, drool vomit.

Sure you complete ******* moron. Yeah, moron, companies should transport oil from the middle of Canada for example to China

Oil quiz for morons. Should we send

A) Oil in the middle of Canada to China and oil from Alaska to the middle of the United States

B) Oil in the middle of Canada to the United States and Oil in Alaska to China

surada: Well obviously A, are against "imports"

No you ******* druling idiot, it's a global world and B reduces COST because we aren't shipping it as far.

You know ZERO about energy and you are a total ******* moron

China owns most of Canada's tar sands so Keystone XL would benefit China.

Where did you work in the oil industry?

 

[surada]

OMG that's funny. Of course we imported oil under Trump. You know zero about the oil industry.

surada: Duh, dar, hick, but kaz, companies should pay more for transportation costs, drool vomit.

Sure you complete ******* moron. Yeah, moron, companies should transport oil from the middle of Canada for example to China

Oil quiz for morons. Should we send

A) Oil in the middle of Canada to China and oil from Alaska to the middle of the United States

B) Oil in the middle of Canada to the United States and Oil in Alaska to China

surada: Well obviously A, are against "imports"

No you ******* druling idiot, it's a global world and B reduces COST because we aren't shipping it as far.

You know ZERO about energy and you are a total ******* moron

China owns most of Canada's tar sands so Keystone XL would benefit China.

Where did you work in the oil industry?