‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s The Reality

[Doc7505]

‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s The Reality​

MSN

www.msn.com

19 Oct 2022 ~~ By Jack McEvoy

WASHINGTON, DC - OCTOBER 19: U.S. President Joe Biden delivers remarks on energy as (L-R) Secretary of Energy Jennifer Granholm, Special Presidential Coordinator Amos Hochstein and Director of National Economic Council Brian Deese listen during an event in the Roosevelt Room of the White House October 19, 2022 in Washington, DC. Biden spoke on American energy independence, green energy investments and announced the release of 15 million barrels of oil from the U.S. strategic reserve. (Photo by Alex Wong/Getty Images)© (Photo by Alex Wong/Getty Images)

• President Joe Biden said Wednesday that he has not implemented policies to halt domestic oil production; however, the Biden administration has enacted policies that are hampering the nation’s energy output.
• “Biden’s green policies have created a hostile environment for investment in oil and gas, which has hurt production,” Phil Flynn, an energy market analyst with the PRICE Futures Group, told the Daily Caller News Foundation.
• “If the president wants to debunk some myths, let’s start with the fact that he’s leased fewer acres of federal and offshore land than any other president since the end of WWII,” Republican Rep. Bruce Westerman of Arkansas told the DCNF

Commentary:
No other president has lied as much as Biden? Yet the media continues to cover for him
Meanwhile the hostile Biden administration is now only slow walking the leases, they are adding burdensome approval requirements and then blaming the oil companies for deciding it's not worth the effort.
OBAMA/BIDEN weaponized the EPA during that 2009-2017 administration. What the EPA did was set deadlines to meet strict emission requirements. Those deadlines were set to fall during the next administration, that way it would look like someone trashed Obama's economy...TRUMP, got us out of the Paris Accord and temporarily delayed the policies that were meant to destroy DOMESTIC production, because as you well know...THEY ARE IN BED WITH FOREIGN OIL AND GAS COMPANIES.
Remembering Gina McCarty and the Gold King Mine waste water spill.
WHO SAID?:

• Inflation is transitory and will go away before 2022.
• The 2020 election was the most secure in US History.
• The Afghanistan withdrawal was an extraordinary Success
• If you get the Covid Vaccine you can’t get Covid
• If you get the Covid Vaccine you can’t spread Covid
• High Gas Prices are Putin’s Fault
• High Gas Prices are Trumps Fault
• High Gas Prices are the Republicans Fault
• We don’t have inflation
• Wages are Going up
• We don’t have a recession
• The Border is Closed
• We don’t have a border Crisis
• I don’t discuss business with my son
• My son is the smartest guy I know
• I’m good friends with XI Jinping
• They’re not bad folks, folks
• The Border Guards were whipping the illegals coming over the border
• This Inflation Reduction Bill will not raise taxes on anyone making $400k or Less

 

[candycorn]

Biden has not stopped oil production.

 

[Magnus]

‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s The Reality​

MSN

www.msn.com

19 Oct 2022 ~~ By Jack McEvoy

View attachment 712900

WASHINGTON, DC - OCTOBER 19: U.S. President Joe Biden delivers remarks on energy as (L-R) Secretary of Energy Jennifer Granholm, Special Presidential Coordinator Amos Hochstein and Director of National Economic Council Brian Deese listen during an event in the Roosevelt Room of the White House October 19, 2022 in Washington, DC. Biden spoke on American energy independence, green energy investments and announced the release of 15 million barrels of oil from the U.S. strategic reserve. (Photo by Alex Wong/Getty Images)© (Photo by Alex Wong/Getty Images)

• President Joe Biden said Wednesday that he has not implemented policies to halt domestic oil production; however, the Biden administration has enacted policies that are hampering the nation’s energy output.
• “Biden’s green policies have created a hostile environment for investment in oil and gas, which has hurt production,” Phil Flynn, an energy market analyst with the PRICE Futures Group, told the Daily Caller News Foundation.
• “If the president wants to debunk some myths, let’s start with the fact that he’s leased fewer acres of federal and offshore land than any other president since the end of WWII,” Republican Rep. Bruce Westerman of Arkansas told the DCNF

Commentary:
No other president has lied as much as Biden? Yet the media continues to cover for him
Meanwhile the hostile Biden administration is now only slow walking the leases, they are adding burdensome approval requirements and then blaming the oil companies for deciding it's not worth the effort.
OBAMA/BIDEN weaponized the EPA during that 2009-2017 administration. What the EPA did was set deadlines to meet strict emission requirements. Those deadlines were set to fall during the next administration, that way it would look like someone trashed Obama's economy...TRUMP, got us out of the Paris Accord and temporarily delayed the policies that were meant to destroy DOMESTIC production, because as you well know...THEY ARE IN BED WITH FOREIGN OIL AND GAS COMPANIES.
Remembering Gina McCarty and the Gold King Mine waste water spill.
WHO SAID?:

• Inflation is transitory and will go away before 2022.
• The 2020 election was the most secure in US History.
• The Afghanistan withdrawal was an extraordinary Success
• If you get the Covid Vaccine you can’t get Covid
• If you get the Covid Vaccine you can’t spread Covid
• High Gas Prices are Putin’s Fault
• High Gas Prices are Trumps Fault
• High Gas Prices are the Republicans Fault
• We don’t have inflation
• Wages are Going up
• We don’t have a recession
• The Border is Closed
• We don’t have a border Crisis
• I don’t discuss business with my son
• My son is the smartest guy I know
• I’m good friends with XI Jinping
• They’re not bad folks, folks
• The Border Guards were whipping the illegals coming over the border
• This Inflation Reduction Bill will not raise taxes on anyone making $400k or Less

Blah...blah...blah. All this verbal diarrhea but no actual proof that Biden stopped oil production? Why am I not surprised?

 

[White 6]

‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s The Reality​

MSN

www.msn.com

19 Oct 2022 ~~ By Jack McEvoy

View attachment 712900

WASHINGTON, DC - OCTOBER 19: U.S. President Joe Biden delivers remarks on energy as (L-R) Secretary of Energy Jennifer Granholm, Special Presidential Coordinator Amos Hochstein and Director of National Economic Council Brian Deese listen during an event in the Roosevelt Room of the White House October 19, 2022 in Washington, DC. Biden spoke on American energy independence, green energy investments and announced the release of 15 million barrels of oil from the U.S. strategic reserve. (Photo by Alex Wong/Getty Images)© (Photo by Alex Wong/Getty Images)

• President Joe Biden said Wednesday that he has not implemented policies to halt domestic oil production; however, the Biden administration has enacted policies that are hampering the nation’s energy output.
• “Biden’s green policies have created a hostile environment for investment in oil and gas, which has hurt production,” Phil Flynn, an energy market analyst with the PRICE Futures Group, told the Daily Caller News Foundation.
• “If the president wants to debunk some myths, let’s start with the fact that he’s leased fewer acres of federal and offshore land than any other president since the end of WWII,” Republican Rep. Bruce Westerman of Arkansas told the DCNF

Commentary:
No other president has lied as much as Biden? Yet the media continues to cover for him
Meanwhile the hostile Biden administration is now only slow walking the leases, they are adding burdensome approval requirements and then blaming the oil companies for deciding it's not worth the effort.
OBAMA/BIDEN weaponized the EPA during that 2009-2017 administration. What the EPA did was set deadlines to meet strict emission requirements. Those deadlines were set to fall during the next administration, that way it would look like someone trashed Obama's economy...TRUMP, got us out of the Paris Accord and temporarily delayed the policies that were meant to destroy DOMESTIC production, because as you well know...THEY ARE IN BED WITH FOREIGN OIL AND GAS COMPANIES.
Remembering Gina McCarty and the Gold King Mine waste water spill.
WHO SAID?:

• Inflation is transitory and will go away before 2022.
• The 2020 election was the most secure in US History.
• The Afghanistan withdrawal was an extraordinary Success
• If you get the Covid Vaccine you can’t get Covid
• If you get the Covid Vaccine you can’t spread Covid
• High Gas Prices are Putin’s Fault
• High Gas Prices are Trumps Fault
• High Gas Prices are the Republicans Fault
• We don’t have inflation
• Wages are Going up
• We don’t have a recession
• The Border is Closed
• We don’t have a border Crisis
• I don’t discuss business with my son
• My son is the smartest guy I know
• I’m good friends with XI Jinping
• They’re not bad folks, folks
• The Border Guards were whipping the illegals coming over the border
• This Inflation Reduction Bill will not raise taxes on anyone making $400k or Less

Gee, It doesn't look like has hindered production. One picture showing the raw numbers proves that:

Plus, it appears Exports by US Oil Companies selling on the international market, as it standard in this sector is as high or higher than ever, since they nose dived while Trump was in office.

Furthermore it appears the number of drilling rigs in operation has increased steadily for the fall off during the Trump administration.

Numbers do not lie. Only editorial opinions lie.

U.S. oil & gas rigs in use per month 2023 | Statista

U.S. oil and gas drilling activity varies greatly depending on the month and season. Rig numbers decreased in the latter half of 2023.

www.statista.com

US Petroleum Exports

In depth view into US Petroleum Exports including historical data from 1973 to 2023, charts and stats.

ycharts.com

U.S. Crude Oil Production - Historical Chart

Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels produced per day.

www.macrotrends.net

 

[BlindBoo]

The US Oil Patch produced more oil in Biden's first two years than it did under Trumpys first two

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

We have been energy independent since late 2019 and the gap is beginning to widened under President Biden.

Weekly U.S. Exports of Crude Oil and Petroleum Products (Thousand Barrels per Day)

Weekly U.S. Imports of Crude Oil and Petroleum Products (Thousand Barrels per Day)

 

[TheProgressivePatriot]

‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s The Reality​

MSN

www.msn.com

19 Oct 2022 ~~ By Jack McEvoy

View attachment 712900

WASHINGTON, DC - OCTOBER 19: U.S. President Joe Biden delivers remarks on energy as (L-R) Secretary of Energy Jennifer Granholm, Special Presidential Coordinator Amos Hochstein and Director of National Economic Council Brian Deese listen during an event in the Roosevelt Room of the White House October 19, 2022 in Washington, DC. Biden spoke on American energy independence, green energy investments and announced the release of 15 million barrels of oil from the U.S. strategic reserve. (Photo by Alex Wong/Getty Images)© (Photo by Alex Wong/Getty Images)

• President Joe Biden said Wednesday that he has not implemented policies to halt domestic oil production; however, the Biden administration has enacted policies that are hampering the nation’s energy output.
• “Biden’s green policies have created a hostile environment for investment in oil and gas, which has hurt production,” Phil Flynn, an energy market analyst with the PRICE Futures Group, told the Daily Caller News Foundation.
• “If the president wants to debunk some myths, let’s start with the fact that he’s leased fewer acres of federal and offshore land than any other president since the end of WWII,” Republican Rep. Bruce Westerman of Arkansas told the DCNF

Commentary:
No other president has lied as much as Biden? Yet the media continues to cover for him
Meanwhile the hostile Biden administration is now only slow walking the leases, they are adding burdensome approval requirements and then blaming the oil companies for deciding it's not worth the effort.
OBAMA/BIDEN weaponized the EPA during that 2009-2017 administration. What the EPA did was set deadlines to meet strict emission requirements. Those deadlines were set to fall during the next administration, that way it would look like someone trashed Obama's economy...TRUMP, got us out of the Paris Accord and temporarily delayed the policies that were meant to destroy DOMESTIC production, because as you well know...THEY ARE IN BED WITH FOREIGN OIL AND GAS COMPANIES.
Remembering Gina McCarty and the Gold King Mine waste water spill.
WHO SAID?:

• Inflation is transitory and will go away before 2022.
• The 2020 election was the most secure in US History.
• The Afghanistan withdrawal was an extraordinary Success
• If you get the Covid Vaccine you can’t get Covid
• If you get the Covid Vaccine you can’t spread Covid
• High Gas Prices are Putin’s Fault
• High Gas Prices are Trumps Fault
• High Gas Prices are the Republicans Fault
• We don’t have inflation
• Wages are Going up
• We don’t have a recession
• The Border is Closed
• We don’t have a border Crisis
• I don’t discuss business with my son
• My son is the smartest guy I know
• I’m good friends with XI Jinping
• They’re not bad folks, folks
• The Border Guards were whipping the illegals coming over the border
• This Inflation Reduction Bill will not raise taxes on anyone making $400k or Less

The Daily Caller lies

Daily Caller - Bias and Credibility

RIGHT BIAS These media sources are moderate to strongly biased toward conservative causes through story selection and/or political affiliation. They may

mediabiasfactcheck.com

 

[Nostra]

Gee, It doesn't look like has hindered production. One picture showing the raw numbers proves that:
View attachment 712908
Plus, it appears Exports by US Oil Companies selling on the international market, as it standard in this sector is as high or higher than ever, since they nose dived while Trump was in office.
View attachment 712909
Furthermore it appears the number of drilling rigs in operation has increased steadily for the fall off during the Trump administration.
View attachment 712910
Numbers do not lie. Only editorial opinions lie.

U.S. oil & gas rigs in use per month 2023 | Statista

U.S. oil and gas drilling activity varies greatly depending on the month and season. Rig numbers decreased in the latter half of 2023.

www.statista.com

US Petroleum Exports

In depth view into US Petroleum Exports including historical data from 1973 to 2023, charts and stats.

ycharts.com

U.S. Crude Oil Production - Historical Chart

Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels produced per day.

www.macrotrends.net

Trump took It from 8.7. MBPM to 13 MBPM.

Biden has taken it from 11 MBPM To 11.8 MBPM.

 

[White 6]

Trump took It from 8.7. MBPM to 13 MBPM.

Biden has taken it from 11 MBPM To 11.8 MBPM.

It was closer to 10 on Jan 21, after tanking in Trump's time. What is your point, that the petroleum industry has no intention of ramping up production as higher costs to do it, but also depressing the sale price back down, due to a glut on the market, so that they can sustain record-breaking profits? Good point. If feebly attempting to prove Biden's supposed negative effect with the increases seen from the glut and slump, you fail. Need I simply post the same graphics of the real numbers for the last 3 years again. Your point fails, due to inability to compete with the graphics showing the numbers and the ability of any member to click the links to the historical record. If you have not figured it out or your investment guy is incompetent, DON'T SELL YOUR PETROLEUM STOCKS.

 

[BlindBoo]

Trump took It from 8.7. MBPM to 13 MBPM.

Biden has taken it from 11 MBPM To 11.8 MBPM.

Trump was handed a thriving economy in 2017 that was hitting on all cylinders.

Biden was handed a sputtering economy with oil production cuts worldwide, worker shortages, and supply chain issues all on day one.

 

[MagicMike]

‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s The Reality​

MSN

www.msn.com

19 Oct 2022 ~~ By Jack McEvoy

View attachment 712900

WASHINGTON, DC - OCTOBER 19: U.S. President Joe Biden delivers remarks on energy as (L-R) Secretary of Energy Jennifer Granholm, Special Presidential Coordinator Amos Hochstein and Director of National Economic Council Brian Deese listen during an event in the Roosevelt Room of the White House October 19, 2022 in Washington, DC. Biden spoke on American energy independence, green energy investments and announced the release of 15 million barrels of oil from the U.S. strategic reserve. (Photo by Alex Wong/Getty Images)© (Photo by Alex Wong/Getty Images)

• President Joe Biden said Wednesday that he has not implemented policies to halt domestic oil production; however, the Biden administration has enacted policies that are hampering the nation’s energy output.
• “Biden’s green policies have created a hostile environment for investment in oil and gas, which has hurt production,” Phil Flynn, an energy market analyst with the PRICE Futures Group, told the Daily Caller News Foundation.
• “If the president wants to debunk some myths, let’s start with the fact that he’s leased fewer acres of federal and offshore land than any other president since the end of WWII,” Republican Rep. Bruce Westerman of Arkansas told the DCNF

Commentary:
No other president has lied as much as Biden? Yet the media continues to cover for him
Meanwhile the hostile Biden administration is now only slow walking the leases, they are adding burdensome approval requirements and then blaming the oil companies for deciding it's not worth the effort.
OBAMA/BIDEN weaponized the EPA during that 2009-2017 administration. What the EPA did was set deadlines to meet strict emission requirements. Those deadlines were set to fall during the next administration, that way it would look like someone trashed Obama's economy...TRUMP, got us out of the Paris Accord and temporarily delayed the policies that were meant to destroy DOMESTIC production, because as you well know...THEY ARE IN BED WITH FOREIGN OIL AND GAS COMPANIES.
Remembering Gina McCarty and the Gold King Mine waste water spill.
WHO SAID?:

• Inflation is transitory and will go away before 2022.
• The 2020 election was the most secure in US History.
• The Afghanistan withdrawal was an extraordinary Success
• If you get the Covid Vaccine you can’t get Covid
• If you get the Covid Vaccine you can’t spread Covid
• High Gas Prices are Putin’s Fault
• High Gas Prices are Trumps Fault
• High Gas Prices are the Republicans Fault
• We don’t have inflation
• Wages are Going up
• We don’t have a recession
• The Border is Closed
• We don’t have a border Crisis
• I don’t discuss business with my son
• My son is the smartest guy I know
• I’m good friends with XI Jinping
• They’re not bad folks, folks
• The Border Guards were whipping the illegals coming over the border
• This Inflation Reduction Bill will not raise taxes on anyone making $400k or Less

Fake news.

 

[Nostra]

Trump was handed a thriving economy in 2017 that was hitting on all cylinders.

Biden was handed a sputtering economy with oil production cuts worldwide, worker shortages, and supply chain issues all on day one.

GDP growth was slowing when Trump took office, growing when he left.

If oil,production was so bad when Biden took office, why has he only been able to increase it by .8 MBPM?

 

[excalibur]

Trump was handed a thriving economy in 2017 that was hitting on all cylinders.

Biden was handed a sputtering economy with oil production cuts worldwide, worker shortages, and supply chain issues all on day one.

Absolute bullshit. Øbama averaged 1.5% GDP growth.

Trump left Biden a growing economy with the 3rd quarter of 2020 GDP up 33.4%.

Gross Domestic Product (Third Estimate), Corporate Profits (Revised), and GDP by Industry, Third Quarter 2020 | U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent.

www.bea.gov

Third quarter 2020 GDP up 4.1%.

Gross Domestic Product, Fourth Quarter and Year 2020 (Second Estimate) | U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the fourth quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4 percent.

www.bea.gov

First quarter 2021 GDP up 6.4%.

Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), 1st Quarter 2021 | U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 4.3 percent.

www.bea.gov

 

[BlindBoo]

If oil,production was so bad when Biden took office, why has he only been able to increase it by .8

The US Oil patch is not run by the Government like OPEC+. Their cuts were due to economic factors not output mandates from the ruling class.

Absolute bullshit. Øbama averaged 1.5% GDP growth.

Trump left Biden a growing economy with the 3rd quarter of 2020 GDP up 33.4%.

"Starting with the September 2009 quarter GDP growth has been positive every year since then. It ranged from 1.6% to 2.9% per year under Obama and from 2.3% to 2.9% under Trump."

Obama’s 2009 Recovery Act Kicked Off Over 10 Years Of Economic Growth

President Obama signed the Recovery Act eleven years ago today that helped to kick-start an economic recovery that has lasted for over a decade and create the longest period of job growth in U.S. history.

www.forbes.com

Nice Cherries you picked out there.......

 

[JohnDB]

Domestic oil production is not done by large corporations...it's done by small companies with fewer than 8 people employed usually.

There's always a geologist at the helm...choosing the sites to drill. Then a drilling company is contracted to do the actual drilling.
All of the costs, fees, fines and permits are then reviewed by the investors to formulate the risk/reward numbers. (Only one out of three wells produce more than one barrel per week and only one out of three pilot holes produce oil)

So...when the land leases are tripled in price, the fees and permits are tripled, and the fines for accidental spills (common occurrence) are quadrupled....even the fees for bringing the oil ashore are tripled...

The cost of risk/reward shows a blaring red light and nobody is interested in drilling a "wildcat" well...which is the bulk of Domestic oil production.
Then there's the existing wells. Most of these are in the gulf. A refining platform which pulls the oil out of the ground under the ocean floor pays fees, leases, fines, and etc while attached to the well. When these costs go up too much (which they did) these platforms move to less expensive waters to work in. (Which they also did)

So...while Joe is saying one thing he is doing another by attacking small businesses and investors. Just because he is interested in pandering to CORPORATE donors who wished to make hay out of electric car stocks and batteries and the railroads (Blackrock investment group)

Getting the pictures yet?

 

[surada]

‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s The Reality​

MSN

www.msn.com

19 Oct 2022 ~~ By Jack McEvoy

View attachment 712900

WASHINGTON, DC - OCTOBER 19: U.S. President Joe Biden delivers remarks on energy as (L-R) Secretary of Energy Jennifer Granholm, Special Presidential Coordinator Amos Hochstein and Director of National Economic Council Brian Deese listen during an event in the Roosevelt Room of the White House October 19, 2022 in Washington, DC. Biden spoke on American energy independence, green energy investments and announced the release of 15 million barrels of oil from the U.S. strategic reserve. (Photo by Alex Wong/Getty Images)© (Photo by Alex Wong/Getty Images)

• President Joe Biden said Wednesday that he has not implemented policies to halt domestic oil production; however, the Biden administration has enacted policies that are hampering the nation’s energy output.
• “Biden’s green policies have created a hostile environment for investment in oil and gas, which has hurt production,” Phil Flynn, an energy market analyst with the PRICE Futures Group, told the Daily Caller News Foundation.
• “If the president wants to debunk some myths, let’s start with the fact that he’s leased fewer acres of federal and offshore land than any other president since the end of WWII,” Republican Rep. Bruce Westerman of Arkansas told the DCNF

Commentary:
No other president has lied as much as Biden? Yet the media continues to cover for him
Meanwhile the hostile Biden administration is now only slow walking the leases, they are adding burdensome approval requirements and then blaming the oil companies for deciding it's not worth the effort.
OBAMA/BIDEN weaponized the EPA during that 2009-2017 administration. What the EPA did was set deadlines to meet strict emission requirements. Those deadlines were set to fall during the next administration, that way it would look like someone trashed Obama's economy...TRUMP, got us out of the Paris Accord and temporarily delayed the policies that were meant to destroy DOMESTIC production, because as you well know...THEY ARE IN BED WITH FOREIGN OIL AND GAS COMPANIES.
Remembering Gina McCarty and the Gold King Mine waste water spill.
WHO SAID?:

• Inflation is transitory and will go away before 2022.
• The 2020 election was the most secure in US History.
• The Afghanistan withdrawal was an extraordinary Success
• If you get the Covid Vaccine you can’t get Covid
• If you get the Covid Vaccine you can’t spread Covid
• High Gas Prices are Putin’s Fault
• High Gas Prices are Trumps Fault
• High Gas Prices are the Republicans Fault
• We don’t have inflation
• Wages are Going up
• We don’t have a recession
• The Border is Closed
• We don’t have a border Crisis
• I don’t discuss business with my son
• My son is the smartest guy I know
• I’m good friends with XI Jinping
• They’re not bad folks, folks
• The Border Guards were whipping the illegals coming over the border
• This Inflation Reduction Bill will not raise taxes on anyone making $400k or Less

Energy market analyst?? Like energy broker Matthew Simmons who reinvented Peak Oil?

 

[surada]

Domestic oil production is not done by large corporations...it's done by small companies with fewer than 8 people employed usually.

There's always a geologist at the helm...choosing the sites to drill. Then a drilling company is contracted to do the actual drilling.
All of the costs, fees, fines and permits are then reviewed by the investors to formulate the risk/reward numbers. (Only one out of three wells produce more than one barrel per week and only one out of three pilot holes produce oil)

So...when the land leases are tripled in price, the fees and permits are tripled, and the fines for accidental spills (common occurrence) are quadrupled....even the fees for bringing the oil ashore are tripled...

The cost of risk/reward shows a blaring red light and nobody is interested in drilling a "wildcat" well...which is the bulk of Domestic oil production.
Then there's the existing wells. Most of these are in the gulf. A refining platform which pulls the oil out of the ground under the ocean floor pays fees, leases, fines, and etc while attached to the well. When these costs go up too much (which they did) these platforms move to less expensive waters to work in. (Which they also did)

So...while Joe is saying one thing he is doing another by attacking small businesses and investors. Just because he is interested in pandering to CORPORATE donors who wished to make hay out of electric car stocks and batteries and the railroads (Blackrock investment group)

Getting the pictures yet?

How many wells in the Gulf of Mexico? Over 3000 I think. Most domestic wells produce less than 50 barrels a day. We have no economies of scale. We do have higher production emissions... and the highest lift costs in the world. I think we have reached 12 million bpd so that's remarkable. Have you ever wondered why we still use pumpjacks instead of Christmas trees?

 

[kyzr]

Domestic oil production is not done by large corporations...it's done by small companies with fewer than 8 people employed usually.

There's always a geologist at the helm...choosing the sites to drill. Then a drilling company is contracted to do the actual drilling.
All of the costs, fees, fines and permits are then reviewed by the investors to formulate the risk/reward numbers. (Only one out of three wells produce more than one barrel per week and only one out of three pilot holes produce oil)

So...when the land leases are tripled in price, the fees and permits are tripled, and the fines for accidental spills (common occurrence) are quadrupled....even the fees for bringing the oil ashore are tripled...

The cost of risk/reward shows a blaring red light and nobody is interested in drilling a "wildcat" well...which is the bulk of Domestic oil production.
Then there's the existing wells. Most of these are in the gulf. A refining platform which pulls the oil out of the ground under the ocean floor pays fees, leases, fines, and etc while attached to the well. When these costs go up too much (which they did) these platforms move to less expensive waters to work in. (Which they also did)

So...while Joe is saying one thing he is doing another by attacking small businesses and investors. Just because he is interested in pandering to CORPORATE donors who wished to make hay out of electric car stocks and batteries and the railroads (Blackrock investment group)

Getting the pictures yet?

That explains why the number of oil rigs has plateaued under Biden. Oil production has stayed at about 11.5m bpd, when under Trump the US produced 13m bpd.
Oil wells do NOT increase capacity over time, so Biden's "War on Energy" is keeping oil & gas prices high. Tuesday's election will show the democrats what voters think of their energy policies.

 

[pknopp]

Biden has not stopped oil production.

He hasn't but Democrats have made statements over and over about how they are going to do that and prices are high so he is going to pay at the polls.

 

[surada]

That explains why the number of oil rigs has plateaued under Biden. Oil production has stayed at about 11.5m bpd, when under Trump the US produced 13m bpd.
Oil wells do NOT increase capacity over time, so Biden's "War on Energy" is keeping oil & gas prices high. Tuesday's election will show the democrats what voters think of their energy policies.

Rig count is increasing.. production is hovering at 12 million bpd.

 

[AntonToo]

He hasn't but Democrats have made statements over and over about how they are going to do that and prices are high so he is going to pay at the polls.

Politicians making statements make it real?

Well I guess that means all our national debt is almost paid off and our healthcare costs have become a fraction of what they used to be.