Drill baby, Drill! Ignorant of a Scam Comment?

[Luckyone]

Throughout his campaign to be reelected, Trump has been saying repeatedly "when I become president again, we will drill baby drill", referring to drilling for oil to get oil prices down and in turn getting inflation down.



Why he keeps repeating this lie is plain stupid because there will be no new drilling to occur.

Here are the reasons why drill, baby drill is a lie

1) According to a 2024 survey, oil producers operating, they need WTI oil prices to amount to a minimum of 62 U.S. dollars per barrel in order to profitably drill a new well. (Oil prices are presently around the $70 level).

2) In general, most drilling and production is regulated by the states. States with oil and natural gas production have state-level laws and regulations that apply in each particular state. Knowledge of a specific state's requirements is needed before beginning exploration and development operations in that state. (this means that it is not up to the president to decide that)

3) Why are companies not drilling for oil? According to Bloomberg, “U.S. oil companies generally have been reluctant to pump more, preferring to steer cash flows back to investors instead of spending it on new drilling that could flood the world with cheap crude.” (drilling for more oil will not help the oil companies as it would cost more to do so and not give any new profits due to lower oil prices)

4) U.S. crude production will rise by 290,000 barrels per day (bpd) to a record 13.21 million bpd this year. (We are already at record high drilling in the U.S. Trump is not going to generate any more).

This does mean that this "drll, baby drill) is another con/scam statement by Trump!

 

[Luckyone]

Hellokitty can you prove your "Fake News" rating?

 

[The Irish Ram]

Then, of course, you would expect the oil companies to back the Democrats.
They are backing Trump. The OBiden/Harris admin has regulated them and refused to give them permits, closed down the pipeline, put their workers out of jobs, and it caused the price of oil to spike.

 

[Luckyone]

Then, of course, you would expect the oil companies to back the Democrats.
They are backing Trump. The OBiden/Harris admin has regulated them and refused to give them permits, closed down the pipeline, put their workers out of jobs, and it caused the price of oil to spike.

What you say has been the norm for Trump and his supporters for a long time but the reality/truth does not usually support most of the statements said.

As such, you should be doing more research before opening your mouth. Here are the facts:

How Much Of The Gasoline Price Surge Is President Biden’s Fault?​

Many people attributed the entire price rise to President Biden, but in reality it began before Biden took office. Further, it was neither primarily President Trump nor President Biden’s fault — and these price surges were taking place all over the world.

As far as the suspension of oil and gas permits goes, it lasted only 6 months and did not create any problems as the companies themselves were not drilling any new wells. The were making huge profits ad they were not wanting to spend any more money as it would only cost them.

As far as the cancellation of the pipeline is concerned

• resident Joe Biden canceling the permit for the Keystone XL pipeline did lead to hundreds of job losses, but most of those jobs were temporary.
• The pipeline would have created only 35 long-term jobs.
• There is no relationship between Biden’s decision and rising gas prices, as the pipeline wouldn’t have been completed yet.
• Even if the pipeline were completed and operational, it would have a negligible impact on the global oil market.

 

[The Irish Ram]

Bullshit.
I'll let you know when we are back on top of the oil game when my royalty checks go back up...

 

[80zephyr]

Throughout his campaign to be reelected, Trump has been saying repeatedly "when I become president again, we will drill baby drill", referring to drilling for oil to get oil prices down and in turn getting inflation down.



Why he keeps repeating this lie is plain stupid because there will be no new drilling to occur.

Here are the reasons why drill, baby drill is a lie

1) According to a 2024 survey, oil producers operating, they need WTI oil prices to amount to a minimum of 62 U.S. dollars per barrel in order to profitably drill a new well. (Oil prices are presently around the $70 level).

2) In general, most drilling and production is regulated by the states. States with oil and natural gas production have state-level laws and regulations that apply in each particular state. Knowledge of a specific state's requirements is needed before beginning exploration and development operations in that state. (this means that it is not up to the president to decide that)

3) Why are companies not drilling for oil? According to Bloomberg, “U.S. oil companies generally have been reluctant to pump more, preferring to steer cash flows back to investors instead of spending it on new drilling that could flood the world with cheap crude.” (drilling for more oil will not help the oil companies as it would cost more to do so and not give any new profits due to lower oil prices)

4) U.S. crude production will rise by 290,000 barrels per day (bpd) to a record 13.21 million bpd this year. (We are already at record high drilling in the U.S. Trump is not going to generate any more).

This does mean that this "drll, baby drill) is another con/scam statement by Trump!

175 Ways the Biden Administration and Democrats Have Made it Harder to Produce Oil & Gas

President Biden and Democrats have a plan for American energy: make it harder to produce and more expensive to purchase.…

www.instituteforenergyresearch.org

 

[Luckyone]

Bullshit.
I'll let you know when we are back on top of the oil game when my royalty checks go back up...

You really don't see straight do you? Even if total common sense is involved. The Oil companies have made RECORD profits the past few years. Why would they want to drill more and bring the price down. How would that make them make more profits?

When yo.u can explain that tome, I will listen

 

[80zephyr]

You really don't see straight do you? Even if total common sense is involved. The Oil companies have made RECORD profits the past few years. Why would they want to drill more and bring the price down. How would that make them make more profits?

When yo.u can explain that tome, I will listen

Then why not cut production and make more money?i

 

[Luckyone]

Then why not cut production and make more money?i

Answering a question with a question? what a load of BS

In addition, it is an ignorant question that can easily be answered by just searching Google.

To begin with, OPEC constantly cuts production to maintain oil prices at these levels. As far as U.S. oil companies, here is the simple common sense answer that your brain was not able to obtain.

U.S. oil companies generally won't cut production to make more money because doing so would likely lead to other producers filling the gap in the global market, meaning they would lose market share, while investor pressure often pushes companies to prioritize maximizing profits through stock buybacks and dividends rather than investing in increased production, even when prices are high; essentially, they are more focused on short-term gains than manipulating the market through production cuts

 

[Oddball]

It only worked the first term, despite the blizzard of naysayer bullshit for the likes of the The Wanker....So why wouldn't it work again?

 

[80zephyr]

Answering a question with a question? what a load of BS

In addition, it is an ignorant question that can easily be answered by just searching Google.

To begin with, OPEC constantly cuts production to maintain oil prices at these levels. As far as U.S. oil companies, here is the simple common sense answer that your brain was not able to obtain.

U.S. oil companies generally won't cut production to make more money because doing so would likely lead to other producers filling the gap in the global market, meaning they would lose market share, while investor pressure often pushes companies to prioritize maximizing profits through stock buybacks and dividends rather than investing in increased production, even when prices are high; essentially, they are more focused on short-term gains than manipulating the market through production cuts

Hmm. So why don't other countries raise production? They are all in this together? What about other industries like steel and lumber, do they understand this technique?

 

[Luckyone]

Hmm. So why don't other countries raise production? They are all in this together? What about other industries like steel and lumber, do they understand this technique?

This is simple common sense. More product means lower prices. As such, production needs to meet the needs but not surpass it. By the same token, each company has its own market and if you cut your own production and the need is there, someone else will step in an take it off of you. That means that just like with OPEC, oil companies have to work with the rest of the companies to maintain a healthy supply to meet demand but not exceed it.

Why don't other countries raise production? Are you really asking such a stupid question. One of two things will happen 1) the prices will go down and that company will then be ostracized in some way by the others 2) the company doing it wil face the possibility of everyone raising production to combat its production and that will make prices go way down.

The companies in any industry that produce enough to make a difference, work together for the COMMON GOAL of all.

 

[Oddball]

What you say has been the norm for Trump and his supporters for a long time but the reality/truth does not usually support most of the statements said.

As such, you should be doing more research before opening your mouth. Here are the facts:

How Much Of The Gasoline Price Surge Is President Biden’s Fault?​

Many people attributed the entire price rise to President Biden, but in reality it began before Biden took office. Further, it was neither primarily President Trump nor President Biden’s fault — and these price surges were taking place all over the world.

As far as the suspension of oil and gas permits goes, it lasted only 6 months and did not create any problems as the companies themselves were not drilling any new wells. The were making huge profits ad they were not wanting to spend any more money as it would only cost them.

As far as the cancellation of the pipeline is concerned

• resident Joe Biden canceling the permit for the Keystone XL pipeline did lead to hundreds of job losses, but most of those jobs were temporary.
• The pipeline would have created only 35 long-term jobs.
• There is no relationship between Biden’s decision and rising gas prices, as the pipeline wouldn’t have been completed yet.
• Even if the pipeline were completed and operational, it would have a negligible impact on the global oil market.

Strictly speaking, all construction jobs are "temporary", you dishonest fucking hack sock puppet.

 

[80zephyr]

This is simple common sense. More product means lower prices. As such, production needs to meet the needs but not surpass it. By the same token, each company has its own market and if you cut your own production and the need is there, someone else will step in an take it off of you. That means that just like with OPEC, oil companies have to work with the rest of the companies to maintain a healthy supply to meet demand but not exceed it.

Why don't other countries raise production? Are you really asking such a stupid question. One of two things will happen 1) the prices will go down and that company will then be ostracized in some way by the others 2) the company doing it wil face the possibility of everyone raising production to combat its production and that will make prices go way down.

The companies in any industry that produce enough to make a difference, work together for the COMMON GOAL of all.

So they are colluding to keep prices high? Do they do that for steel and lumber and computers and cars?

 

[Luckyone]

So they are colluding to keep prices high? Do they do that for steel and lumber and computers and cars?

Of course they will. We are a Capitalistic country, are we not?

 

[80zephyr]

Of course they will. We are a Capitalistic country, are we not?

Then why not raise the prices even more?

 

[Luckyone]

Then why not raise the prices even more?

I already explained that. Keep in mind that we are not talking about ONE entity that has a monopoly. We are talking about many entities that are competing with each other and if anything gets to the extreme, the individual entities will use that to gain market share.

Your brain cannot come up with such a simple understanding? You need to have me explain it to you.

 

[80zephyr]

I already explained that. Keep in mind that we are not talking about ONE entity that has a monopoly. We are talking about many entities that are competing with each other and if anything gets to the extreme, the individual entities will use that to gain market share.

Your brain cannot come up with such a simple understanding? You need to have me explain it to you.

How do they know how much is too much?

 

[22lcidw]

What you say has been the norm for Trump and his supporters for a long time but the reality/truth does not usually support most of the statements said.

As such, you should be doing more research before opening your mouth. Here are the facts:

How Much Of The Gasoline Price Surge Is President Biden’s Fault?​

Many people attributed the entire price rise to President Biden, but in reality it began before Biden took office. Further, it was neither primarily President Trump nor President Biden’s fault — and these price surges were taking place all over the world.

As far as the suspension of oil and gas permits goes, it lasted only 6 months and did not create any problems as the companies themselves were not drilling any new wells. The were making huge profits ad they were not wanting to spend any more money as it would only cost them.

As far as the cancellation of the pipeline is concerned

• resident Joe Biden canceling the permit for the Keystone XL pipeline did lead to hundreds of job losses, but most of those jobs were temporary.
• The pipeline would have created only 35 long-term jobs.
• There is no relationship between Biden’s decision and rising gas prices, as the pipeline wouldn’t have been completed yet.
• Even if the pipeline were completed and operational, it would have a negligible impact on the global oil market.

The Progs screwed things up. They interfered for radical reasons and their hate for Trump. And the voters better realize wearing the pride on your sleeve does not put food on the table and a roof over your head.

 

[Luckyone]

The Progs screwed things up. They interfered for radical reasons and their hate for Trump. And the voters better realize wearing the pride on your sleeve does not put food on the table and a roof over your head.

Bottom line that is at risk on this election is Democracy. If that disappears, we will all suffer (economically and freedom-wise). That is what is at stake.

I am no fan of Harris and she may not help this country get better (not that it is in bad shape, other than because of the Pandemic the entire world suffered from) but even if that is the case, in 4 years we will get someone else. If Trump is elected, we will never be "in good shape".