Drill baby drill unlikely under Trump. Exxon.

[pknopp]

I'm mostly posting this to back up the arguments I've made for a long time. Producers are not going to over produce. It makes no economic sense.

“I think a radical change is unlikely because the vast majority, if not everybody, is primarily focused on the economics of what they’re doing,” Mallon said on Tuesday at a conference in London.

With inventories up, producers are not going to cut their own throats.

The US is pumping more than 13 million barrels of crude a day, exceeding every other nation and up almost 45% in the past decade. With a surplus looming next year, the global oil market is watching to see at what rate American explorers drill new wells. Many of the biggest US operators are taking a long-term approach to production, weighing when to bring certain wells online against their overall inventory.

‘Drill, Baby, Drill’ Is Unlikely Under Trump, Exxon Says

 

[ReinyDays]

We're not cutting back on fossil fuels ... with all these new renewable sources, we're just using more energy ... frankly, it wouldn't surprise me if we're using more fossil fuels as well ...

We're discovering more oil than we're using ... so our proven reserves have been increasing ... we will run out someday, in the far far distant future ... but it's not to soon to start streamlining the regulatory process for building alternatives, particularly nuclear ...

HA ... who are we kidding? ... Congressional Republicans can't even write an appropriation bill ... and may God have mercy on our wicked souls if we let Democrats write this up ... Fukushima accidents every other week ...

 

[1srelluc]

Open the leases and let the market decide. The way it should always have been.

Re-tighten the oil sanctions on Iran and Russia if they don't play ball choking China of cheap oil and the market will self-correct.

 

[JGalt]

I'm mostly posting this to back up the arguments I've made for a long time. Producers are not going to over produce. It makes no economic sense.

“I think a radical change is unlikely because the vast majority, if not everybody, is primarily focused on the economics of what they’re doing,” Mallon said on Tuesday at a conference in London.

With inventories up, producers are not going to cut their own throats.

The US is pumping more than 13 million barrels of crude a day, exceeding every other nation and up almost 45% in the past decade. With a surplus looming next year, the global oil market is watching to see at what rate American explorers drill new wells. Many of the biggest US operators are taking a long-term approach to production, weighing when to bring certain wells online against their overall inventory.

‘Drill, Baby, Drill’ Is Unlikely Under Trump, Exxon Says

Trump is going to reinstate the Keystone XL pipeline on day one.

 

[pknopp]

Trump is going to reinstate the Keystone XL pipeline on day one.

He can reinstate permits.

 

[JGalt]

He can reinstate permits.

Being the fascist dictator like you folks claim he is, Trump can do any damned thing he wants to.

 

[ReinyDays]

Open the leases and let the market decide. The way it should always have been.

Re-tighten the oil sanctions on Iran and Russia if they don't play ball choking China of cheap oil and the market will self-correct.

The sanctions drive down the price of oil to China ... they won't respect any sanctions from the West ... Trump claims he'll set up protective tariffs on these cheaper Chinese goods ... so more inflation ...

Sanctions on oil won't work unless we sanction the products made from that oil ... see what the Chinese economy is like without trade with the West ...

 

[pknopp]

Being the fascist dictator like you folks claim he is, Trump can do any damned thing he wants to.

I have no doubt you believe that.

 

[JGalt]

I have no doubt you believe that.

I'm not the one claiming that.

How many thread have you seen me post that claims Trump is a "dictator" or a "fascist."

 

[AzogtheDefiler]

I'm mostly posting this to back up the arguments I've made for a long time. Producers are not going to over produce. It makes no economic sense.

“I think a radical change is unlikely because the vast majority, if not everybody, is primarily focused on the economics of what they’re doing,” Mallon said on Tuesday at a conference in London.

With inventories up, producers are not going to cut their own throats.

The US is pumping more than 13 million barrels of crude a day, exceeding every other nation and up almost 45% in the past decade. With a surplus looming next year, the global oil market is watching to see at what rate American explorers drill new wells. Many of the biggest US operators are taking a long-term approach to production, weighing when to bring certain wells online against their overall inventory.

‘Drill, Baby, Drill’ Is Unlikely Under Trump, Exxon Says

The market will decide. If Exxon doesn’t mind losing market share then they don’t have to try and find new wells and drill more.

 

[Zincwarrior]

Trump is going to reinstate the Keystone XL pipeline on day one.

No he can't. That deal is DOA. If you put a 25% tariff on Canadian oil, thats double DOA.

 

[AzogtheDefiler]

No he can't. That deal is DOA. If you put a 25% tariff on Canadian oil, thats double DOA.

Wanna bet?

 

[JohnDB]

It takes years to bring an oil well online. Most wells don't produce a lot. A barrel a week for some. Some a barrel a day....but those ones usually go on a pipeline.

Drilling requires investment. Gotta build a pad for the equipment to drill. Then pipe and other things. Gotta pay the crew to go out into the middle of nowhere to drill. Then a control valve (spudding) and connection hubs attached to the well if it's going to produce. (A lot of wells don't produce anything)

Then samples of the petroleum are analyzed. (Usually similar in a geographic area....but there's always the outside chance...)

If a company has plenty of a type of oil....they may not pump. But if a shortage comes they must be ready.

Global Peak petroleum usage is 30 to 50 years off from any draconian law enacted.

Meaning we need to drill it all out until a replacement energy source can be found and used. Yellow coal can be turned into petroleum if need be....but not at these prices.

 

[1srelluc]

The sanctions drive down the price of oil to China ... they won't respect any sanctions from the West ... Trump claims he'll set up protective tariffs on these cheaper Chinese goods ... so more inflation ...

Sanctions on oil won't work unless we sanction the products made from that oil ... see what the Chinese economy is like without trade with the West ...

That would be fine too.....Maybe companies would not make everything as disposable and as un-fixable as they do now.....A galvanized steel-cased I-Phone would be a hoot.

LOL....Hell, I've got hunting clothes that look like patchwork quilts due to the repairs I've made to them over the years and the critters don't see a bit of difference.

 

[JGalt]

No he can't. That deal is DOA. If you put a 25% tariff on Canadian oil, thats double DOA.

Then he'll just open the ANWR for drilling in Alaska, like he was going to do last time.

MAGA Drill baby, MAGA Drill.

 

[ReinyDays]

That would be fine too.....Maybe companies would not make everything as disposable and as un-fixable as they do now.....A galvanized steel-cased I-Phone would be a hoot.

LOL....Hell, I've got hunting clothes that look like patchwork quilts due to the repairs I've made to them over the years and the critters don't see a bit of difference.

I think it is we the consumer who must stop buying these un-repairable goods ...

Stainless steel is cheap these days ... not sure I'd want galvy against copper ... [giggle] ...

 

[ZestolPastilevsky]

I call bullshit. There's no way we're drilling, "so much more oil" and prices are still high.

 

[Zincwarrior]

Then he'll just open the ANWR for drilling in Alaska, like he was going to do last time.

MAGA Drill baby, MAGA Drill.

Lifting costs in Alaska are too high. Alaska costs are more in line with offshore which is prohibitively high at current prices.

 

[Zincwarrior]

I call bullshit. There's no way we're drilling, "so much more oil" and prices are still high.

They aren't. They are at sustainable levels for the industry.

 

[JGalt]

Lifting costs in Alaska are too high. Alaska costs are more in line with offshore which is prohibitively high at current prices.

By the time oil comes down to $30 per barrel, oil companies will jump at the opportunity to suck the oil right of the Alaskan ANWR area. Especially with Burgum as Interior Secretary, Zeldin heading the EPA, and the former CEO of an energy company heading the Department of Energy.

We are poised on the brink of being the most energy-dominant country in the world. Trump is going to have the power to make or break entire nations by simply using our own resources as a weapon.