Bidens War On OIL- Refineries Running Out of Crude to Process...

[Doc7505]

Remember to thank a Democrat when you get gas

 

[22lcidw]

We need more refineries also.

 

[Billy_Bob]

We need more refineries also.

Without sufficient crude oil supplies more refineries will do nothing..

 

[DigitalDrifter]

Supply is up & prices are falling.

Where are you seeing that?

 

[TheGreatSatan]

Supply is up & prices are falling.

Ultra groomers believe up is down and down is up.

If you believe an ultra groomer, you are part of the problem with America.

 

[DigitalDrifter]

Here's the kind of shit Dimocrats are working to do. You wonder why profits are so high? A third-grader can see it, when you have a political party that wants to destroy an industry, then obviously that industry is going to push for as high a price that they can get away with, for the remainder of time they'll be in business.

FINANCE

Democratic bill would force Fed to defund fossil fuels​

BY SYLVAN LANE - 09/15/21 3:05 PM ET



https://pressley.house.gov/sites/pressley.house.gov/files/Fossil Free Finance Act Bill Text.pdf

 

[Billy_Bob]

Gas prices in Wyoming jumped 27cents a gallon over night. Went from 4.65/gal to 4.92/gallon. We will be over five dollars a gallon by tomorrow according to shop owners. They are telling me that they expect another 25-50 cent hike in the coming days.

 

[LAUGHatLEFTISTS]

A refinery official in Wyoming, speaking on the condition of anonymity, has told us that they have been without sufficient crude oil to process for over a week. Many Gas stations have been without deliveries of fuel for over a week and are empty or have almost exhausted their fuel supplies.

Biden's INTENTIONAL diminishment of crude oil supplies has now reached a breaking point.

Many shop managers of local gas stations, in Wyoming, have told us they are almost totally out of diesel fuel for semi's and if you're looking for other fuels, premium and mid grades are gone at most locations. A pilot store has indicated they are dry.. Tanks are in the range where you get impurities that deystroy engines and they are unwilling to sell that contaminated fuel.

The Jimmy Carter days of long gas lines are now here... Food spoiling in trucks is now a very real threat. Thanks JOE!

This story is pending publising..

Butbutbutbut permits!

 

[surada]

Not according to refinery officials here in Wyoming..

Not according to convivence store operators who are without fuel...

Not according to Truck Plaza's that have no fuel to sell..

The hype from the White House is not what is going on in real life.

What is the name of the refinery?

 

[Billy_Bob]

Butbutbutbut permits!

The number of permits does nothing if the hole is dry or is not profitable to drill. This is the lefts appeal to idiocy. they use no common sense..

 

[Billy_Bob]

What is the name of the refinery?

one of the Sinclair refineries. Lots of people around here are fearing for their jobs.

 

[surada]

one of the Sinclare refineries. Lots of people around here are fearing for their jobs.

Is it refining Canadian crude oil imports? We're still importing more than 4 million bpd.

 

[Billy_Bob]

Is it refining Canadian crude oil imports? We're still importing more than 4 million bpd.

Not since Biden pissed them off..

 

[August West]

Ultra groomers believe up is down and down is up.

If you believe an ultra groomer, you are part of the problem with America.

WTF are you babbling about?

 

[TheGreatSatan]

WTF are you babbling about?

I'm talking about the great groomer king Brandon and his cult of ultra groomers.

 

[surada]

Not since Biden pissed them off..

We're still importing from Canada. Crude oil not tarsands.

 

[TheGreatSatan]

We're still importing from Canada. Crude oil not tarsands.

If king Brandon and his cult of ultra groomers cared about Americans, they would welcome all relief.

Americans see that king Brandon and his cult of ultra groomers delight in the pain they are causing Americans. Ultra groomers green groups funded by putin have been fighting for these gas prices for decades.

 

[surada]

If king Brandon and his cult of ultra groomers cared about Americans, they would welcome all relief.

Americans see that king Brandon and his cult of ultra groomers delight in the pain they are causing Americans. Ultra groomers green groups funded by putin have been fighting for these gas prices for decades.

Tarsands are very difficult to refine. The US refitted several Midwest refineries to handle tarsands, but the Chinese owners of Canadian tarsands are trying to bypass those refineries because they can make more money using the free trade zone and exporting those products.

 

[Toro]

I think people misunderstand what's going on in the oil markets.

There is no question that the Democrats are on the wrong side of this IMHO. They should open up federal lands for drilling. But even if they permitted drilling on the White House lawn, we'd still have the same problem.

The fundamental problem is the same problem that all commodity markets have at one time or another. Investors poured hundreds of billions of dollars into shale production. But none of the companies ever produced free cash flow. They relied on capital markets to fund their expansion. Oil prices were high because people believed in Peak Oil. So an ocean of capital came in. That increased supply dramatically. But most of the capital didn't earn a proper return. And as often happens in commodity markets, a flood of product caused prices to fall. This was triggered by the Saudis but would have happened anyways. Then the pandemic hit and the energy market collapsed. Investors got burned. Companies went bankrupt. Capital was destroyed. So owners told their managements to focus on paying debt and returning capital to shareholders. Free cash flow was positive for the first time in 2020 and soared in 2021. Yet there is little drilling going on. The rig count is still roughly two-thirds below where it was in 2013.

This is certainly exacerbated by the move to renewables and the ESG movement. But this was caused by and large by the cyclicality of the energy markets. Very little money is going into the energy markets because investors were so badly burned by the last downturn.

The margin between supply and demand is as thin as it has ever been. At some point this decade, I think we are going to see $200, $300, even $500 oil.

I own energy stocks. It's the only thing I own at the moment. I'm otherwise sitting on a ton of cash. I know energy stocks are going to get hammered as the recession hits, but they're going to make a lot of money when we come out of this.

 

[surada]

I think people misunderstand what's going on in the oil markets.

There is no question that the Democrats are on the wrong side of this IMHO. They should open up federal lands for drilling. But even if they permitted drilling on the White House lawn, we'd still have the same problem.

The fundamental problem is the same problem that all commodity markets have at one time or another. Investors poured hundreds of billions of dollars into shale production. But none of the companies ever produced free cash flow. They relied on capital markets to fund their expansion. Oil prices were high because people believed in Peak Oil. So an ocean of capital came in. That increased supply dramatically. But most of the capital didn't earn a proper return. And as often happens in commodity markets, a flood of product caused prices to fall. This was triggered by the Saudis but would have happened anyways. Then the pandemic hit and the energy market collapsed. Investors got burned. Companies went bankrupt. Capital was destroyed. So owners told their managements to focus on paying debt and returning capital to shareholders. Free cash flow was positive for the first time in 2020 and soared in 2021. Yet there is little drilling going on. The rig count is still roughly two-thirds below where it was in 2013.

This is certainly exacerbated by the move to renewables and the ESG movement. But this was caused by and large by the cyclicality of the energy markets. Very little money is going into the energy markets because investors were so badly burned by the last downturn.

The margin between supply and demand is as thin as it has ever been. At some point this decade, I think we are going to see $200, $300, even $500 oil.

I own energy stocks. It's the only thing I own at the moment. I'm otherwise sitting on a ton of cash. I know energy stocks are going to get hammered as the recession hits, but they're going to make a lot of money when we come out of this.

Currently rig count is soaring.