Drill baby drill unlikely under Trump. Exxon.

[Zincwarrior]

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.

If oil dropped to $30 a barrel again, there will be no investment. just bankruptcies on the oilfield service side. You appear to have no understanding of oilfield economics.

 

[JGalt]

If oil dropped to $30 a barrel again, there will be no investment. just bankruptcies on the oilfield service side. You appear to have no understanding of oilfield economics.

Someone whose party oversaw $7 per gallon gasoline, shortages, supply line disruptions, wars, and a 9.1% inflation rate shouldn't be quite so smug and self-righteous.

Trump is going to do what he does best, and there's nothing you can say or do to stop him. This time isn't going to be anything like it was the first time.

 

[Zincwarrior]

Trump is going to do what he does best,

Fleece the newbs and go bankrupt? Yes, I agree.

I was in the business for 20+ years. Like you, Trump has no knowledge of the industry. To be profitable oil prices sold have to exceed development and lifting costs. The lower the price, the less incentive to explore and develop.
The industry was practically destroyed in in 2010s when they over invested, dropping the price such that they couldn't pay their debt service. the Oil field side was devastated and small producers died.

They have already stated they will not make that mistake again.

https://www.reuters.com/markets/commodities/us-oil-producers-unlikely-shift-drill-baby-drill-mode-says-exxon-executive-2024-11-26/

Exxon: Don’t Expect ‘Drill, Baby, Drill’ Under Trump | OilPrice.com

U.S. shale producers will maintain capital discipline and focus on shareholder returns despite Donald Trump’s pro-drilling energy agenda.

oilprice.com

I am sure you will ignore this and listen to your Orange Jesus though, so whatever.

 

[Fort Fun Indiana]

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

Of course not. They aren't even producing to capacity now.

Oil companies will produce the amounts that maximize their profits. And not a drop more.

They bribed Trump to make it easier to pollute and to buy up land rights.

 

[JGalt]

Fleece the newbs and go bankrupt? Yes, I agree.

I was in the business for 20+ years. Like you, Trump has no knowledge of the industry. To be profitable oil prices sold have to exceed development and lifting costs. The lower the price, the less incentive to explore and develop.
The industry was practically destroyed in in 2010s when they over invested, dropping the price such that they couldn't pay their debt service. the Oil field side was devastated and small producers died.

They have already stated they will not make that mistake again.

https://www.reuters.com/markets/commodities/us-oil-producers-unlikely-shift-drill-baby-drill-mode-says-exxon-executive-2024-11-26/

Exxon: Don’t Expect ‘Drill, Baby, Drill’ Under Trump | OilPrice.com

U.S. shale producers will maintain capital discipline and focus on shareholder returns despite Donald Trump’s pro-drilling energy agenda.

oilprice.com

I am sure you will ignore this and listen to your Orange Jesus though, so whatever.

Cry harder, bro. I'm enjoying this.

 

[TheGreatSatan]

It was democrats war on oil that gave Russia and Iran the money to launch their wars.

This was all done intentionally as part of the intentional collapse of America by WEF/Democrats.

 

[JohnDB]

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.

No....
The USA may use 25% of the global energy resources but we drive half the world's economy. The USA is the most efficient user of energy.

Currently we have an electricity shortage. We need generating plants. Not useless EV manufacturing plants. (Biden loaned 6 billion to Rivian for their plant in GA for cars they don't want to make due to poor sales)

Also electricity is expensive in GA due to a shortage. Can't even build a subdivision due to a lack of power. (New nuke plant is still offline and no news on when it will be. TN gas plant can't get the gas pipeline so no juice from them either)

 

[TheGreatSatan]

No....
The USA may use 25% of the global energy resources but we drive half the world's economy. The USA is the most efficient user of energy.

Currently we have an electricity shortage. We need generating plants. Not useless EV manufacturing plants. (Biden loaned 6 billion to Rivian for their plant in GA for cars they don't want to make due to poor sales)

Also electricity is expensive in GA due to a shortage. Can't even build a subdivision due to a lack of power. (New nuke plant is still offline and no news on when it will be. TN gas plant can't get the gas pipeline so no juice from them either)

Mandating electric cars and cutting electricity production is all part of the WEF/Democrats plan to intentionally collapse America and usher in the great reset.

When you realize democrats are traitors working on a plot to intentionally collapse America, suddenly everything they support will make sense.

Democrats = traitors

 

[Mac-7]

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

We need to replenish the Strategic Oil Reserve that biden drained

 

[pknopp]

Of course not. They aren't even producing to capacity now.

Oil companies will produce the amounts that maximize their profits. And not a drop more.

They bribed Trump to make it easier to pollute and to buy up land rights.

Nothing has happened besides most of the permits pulled are in areas no one wanted to drill anyway.

 

[pknopp]

We need to replenish the Strategic Oil Reserve that biden drained

We do but we are pumping plenty enough to do that.

 

[Mac-7]

We do but we are pumping plenty enough to do that.

If we pump more that will keep prices at the pump lower

 

[Fort Fun Indiana]

We need to replenish the Strategic Oil Reserve that biden drained

We have been, for well over a year.

 

[pknopp]

If we pump more that will keep prices at the pump lower

Not likely. Prices aren't based upon fundamentals unfortunately by and large but on the whims of the markets.

Hedge funds see the government buying and they jump in and run up the price.

 

[Fort Fun Indiana]

If we pump more that will keep prices at the pump lower

There is no "we". Our oil industry is not nationalized, in the US.

Why would oil companies pump.more oil to lower oil prices? They won't. And we can't make them.

 

[Mac-7]

Not likely. Prices aren't based upon fundamentals unfortunately by and large but on the whims of the markets.

Hedge funds see the government buying and they jump in and run up the price.

Ultimately oil prices do respond to the real world whether libs want them to or not

 

[pknopp]

Ultimately oil prices do respond to the real world whether libs want them to or not

In small ways. I paid $2.44 yesterday. Roughly equal to the price in 1966 considering inflation.

 

[Mac-7]

There is no "we". Our oil industry is not nationalized, in the US.

Why would oil companies pump.more oil to lower oil prices? They won't. And we can't make them.

As long as American oil companies are headed by Americans - and ideally Texans- the companies will take care not to harm America

Even Tex Tillerson, woke globalist lib that he was, wanted what was best for America

 

[initforme]

As long as American oil companies are headed by Americans - and ideally Texans- the companies will care not to harm America

Even Tex Tillerson, woke globalist lib that he was, wanted what was best for America

We can have gas under $1 per gallon if we drill more and keep it here. Imagine how this would ignite the economy. 50 cent per gallon gas.

 

[Mac-7]

We can have gas under $1 per gallon if we drill more and keep it here. Imagine how this would ignite the economy. 50 cent per gallon gas.

Greenies should love that idea

Since they all think Peak Oil is just around the corner

Meaning we should run out sooner and save more Polar Bears