HOW Stupid ."increasing domestic production will not lower gas price

[SniperFire]

Unless so-called conservatives are suggesting we nationalize US oil production, drilling more in the US will have a negligible effect on oil prices.

Are you just regurgitating what you have been told, or can you actually make an argument on the impact which adding new marginal suppliers have to commodity prices?

Speaking of regurgitating...The marginal suppliers will only add to the supply of they can extract and sell the oil below the cost of extraction. As the price of oil goes up, techniques that were unfeasible become feasible.

None of which changes the fact that we can't add oil to the US supply. We can only add oil to the world supply. it's a fungible good sold on a spot market. The short term difference between Brent and WTC is not a result of US production changes.

So you can make an argument on the impact of adding marginal supply, but you don't want to?

 

[Douger]

This is certainly a complicated topic when it comes to suppy, demand and production.

Suffice to say that when a POTUS feels the heat, their first instinct is to open up the strategic fuel reserves and increase supply on the market to lower pump price.

An oversupply lowers prices. Period.

Let me assist you murkins..
Read this.
http://documents.foodandwaterwatch.org/doc/FishStoryMarch08.pdf

 

[8537]

Are you just regurgitating what you have been told, or can you actually make an argument on the impact which adding new marginal suppliers have to commodity prices?

Speaking of regurgitating...The marginal suppliers will only add to the supply of they can extract and sell the oil below the cost of extraction. As the price of oil goes up, techniques that were unfeasible become feasible.

None of which changes the fact that we can't add oil to the US supply. We can only add oil to the world supply. it's a fungible good sold on a spot market. The short term difference between Brent and WTC is not a result of US production changes.

So you can make an argument on the impact of adding marginal supply, but you don't want to?

I just did. I can't be held accountable for your inability to understand it. You can't just magically force companies to add to the supply. Any contribution to supply will come as a result of areas that war economically infeasible becoming feasible - either due to higher prices or new technology. Either way, the US can't control the world supply of oil and US firms are very much price takers in that market. Therefore, adding new US supply to the world market will have a minuscule impact on the world market - and thus the US market.

Unless, of course, you recommend we nationalize the market.

 

[healthmyths]

There is no law that says American oil has to be sold in the American marketplace. Prices are still dictated by the international marketplace

AGAIN IDIOTS !

THINK! FACTS not suppositions!
Total oil consumption in 2009...84,213,480 barrels a day! 30.737 billion barrels/year!
World Crude Oil Consumption by Year (Thousand Barrels per Day)

Known World Oil reserves.. according to .Oil & Gas Journal 1,342,207,000,000
You divide 1.342 trillion by 30.73 billion... equal to 43 years!

But the above figures are from 2009 and DO NOT take in account USA domestic
total of 4.7 Trillion!
The above table shows USA ONLY 21.317,000,000 barrels in reserve.

http://www.eia.gov/international/reserves.html

And again just so you understand...
FACT: 4.7 TRILLION BARRELS in USA that Obama could open up!
100 feet or less of Gulf 2.8 billion barrels
Virginia 0.3
Anwr Alaska 10.0
Bakken formation 3,600
CO,UT,WY 1,100
total 4,713 billion barrels or at above consumption rate 686 YEARS!!
U.S. oil resources: President Obama’s ‘non sequitur facts’ - The Washington Post

 

[Seawytch]

But we sell a considerable amount of the blue bar to others.
We don't get that oil.

You said we only produce 2% of the world's oil.

Is that correct, or not?

No...I think it is that we only hold 2% of the worlds oil reserves. We are the third highest producer of oil at 9,688,000 barrels a day. We use twice that.

 

[healthmyths]

Speaking of regurgitating...The marginal suppliers will only add to the supply of they can extract and sell the oil below the cost of extraction. As the price of oil goes up, techniques that were unfeasible become feasible.

None of which changes the fact that we can't add oil to the US supply. We can only add oil to the world supply. it's a fungible good sold on a spot market. The short term difference between Brent and WTC is not a result of US production changes.

So you can make an argument on the impact of adding marginal supply, but you don't want to?

I just did. I can't be held accountable for your inability to understand it. You can't just magically force companies to add to the supply. Any contribution to supply will come as a result of areas that war economically infeasible becoming feasible - either due to higher prices or new technology. Either way, the US can't control the world supply of oil and US firms are very much price takers in that market. Therefore, adding new US supply to the world market will have a minuscule impact on the world market - and thus the US market.

Unless, of course, you recommend we nationalize the market.

DEFINE "minuscule impact on the world market"?

BECAUSE if the IDIOT President hadn't shut down the gulf, shut down pipelines, shut down coal plants, EPA'd the St. Croix 350,000 barrels /day refinery requiring $700 million in pollution controls that captured the remaining 2%!!!
Dumb f..k!!!
Would "minuscule" be releasing the 2 trillion barrels in DOMESTIC USA???

MINUSCULE???

Here in Florida off the west coast in less then 100 feet of water and outside 7 miles
(7 miles is the line of sight for those idiots ashamed of seeing drilling rigs) is 2.8 billion barrels alone! That would have paid FL $1 billion a year in royalties... BUT THIS idiot President has NO idea of how businesses much less oil business works!

 

[SniperFire]

Speaking of regurgitating...The marginal suppliers will only add to the supply of they can extract and sell the oil below the cost of extraction. As the price of oil goes up, techniques that were unfeasible become feasible.

None of which changes the fact that we can't add oil to the US supply. We can only add oil to the world supply. it's a fungible good sold on a spot market. The short term difference between Brent and WTC is not a result of US production changes.

So you can make an argument on the impact of adding marginal supply, but you don't want to?

I just did. I can't be held accountable for your inability to understand it. You can't just magically force companies to add to the supply.

You are generalizing in an attempt to obfuscate. You will need to up your game.

What is the break-even price for a barrel of, oh, say oil sand oil for a marginal supplier?

 

[8537]

So you can make an argument on the impact of adding marginal supply, but you don't want to?

I just did. I can't be held accountable for your inability to understand it. You can't just magically force companies to add to the supply.

You are generalizing in an attempt to obfuscate.

No, I gave quite a specific explanation. Failing to understand the topic well enough, you obfuscated.

What is the break-even price for a barrel of, oh, say oil sand oil for a marginal supplier?

Oil sand oil from where? It's not all the same. In the area around the Canadian Shield it's currently about $85 / barrel. It depends, of course, on how difficult the extraction is, the ratio of oil to sand and the EROI. Over time, that price per barrel will come down.

 

[healthmyths]

But we sell a considerable amount of the blue bar to others.
We don't get that oil.

You said we only produce 2% of the world's oil.

Is that correct, or not?

No...I think it is that we only hold 2% of the worlds oil reserves. We are the third highest producer of oil at 9,688,000 barrels a day. We use twice that.

YOU are vomiting like OBAMA the OLD out of date statistics of 2%!
AGAIN please refute these real numbers from real oil people that know a hell of lot more then you and DEFINTELY OBAMA!!!

FACT: 4.7 TRILLION BARRELS in USA that Obama could open up!
100 feet or less of Gulf 2.8 billion barrels
Virginia 0.3
Anwr Alaska 10.0
Bakken formation 3,600
CO,UT,WY 1,100
total 4,713 billion barrels or at above consumption rate 686 YEARS!!
U.S. oil resources: President Obama’s ‘non sequitur facts’ - The Washington Post

That is 4.713 TRILLION BARRELS!
The known world was in 2009 based on 2007,2008 figures.. 1.34 trillion!
And those number of 1.34 trillion known world reserves was based on old technology!

Again.. Obama and you are throwing up such old antique data and I don't understand why??? I mean he's suppose to be the smartest president and I don't know about you but why are you refusing the FACTS?
Even if the figure is half recoverable.. 2.3 trillion barrels in domestic USA!
that 300 years of domestic oil for the USA using every barrel at 6.8 billion barrels/year!

HOw come that simple math is so hard to understand???

 

[8537]

So you can make an argument on the impact of adding marginal supply, but you don't want to?

I just did. I can't be held accountable for your inability to understand it. You can't just magically force companies to add to the supply. Any contribution to supply will come as a result of areas that war economically infeasible becoming feasible - either due to higher prices or new technology. Either way, the US can't control the world supply of oil and US firms are very much price takers in that market. Therefore, adding new US supply to the world market will have a minuscule impact on the world market - and thus the US market.

Unless, of course, you recommend we nationalize the market.

DEFINE "minuscule impact on the world market"?

It might impact the world supply by a percentage point.

BECAUSE if the IDIOT President hadn't shut down the gulf, shut down pipelines, shut down coal plants, EPA'd the St. Croix 350,000 barrels /day refinery requiring $700 million in pollution controls that captured the remaining 2%!!!
Dumb f..k!!!
Would "minuscule" be releasing the 2 trillion barrels in DOMESTIC USA???

The US is producing more oil now than it did when Obama took office. Try a different mindless rant.

 

[SniperFire]

The following table provided by the Bank of Kuwait gathers current reported break-even prices of major oil producing nations:
Oil Break-Even Prices
Nation US$/Barrel
Bahrain 40
Kuwait 17
Saudi Arabia 30
U.A.E. 25
Oman 40
Qatar 30
Canada’s oil sands 33


Price of Oil: Economic Breakeven vs. Political Breakeven Prices *|* Peak Oil News and Message Boards



Barrel price is WAY above that needed to bring marginal producers online to affect consumer prices.

 

[NYcarbineer]

Are you just regurgitating what you have been told, or can you actually make an argument on the impact which adding new marginal suppliers have to commodity prices?

Speaking of regurgitating...The marginal suppliers will only add to the supply of they can extract and sell the oil below the cost of extraction. As the price of oil goes up, techniques that were unfeasible become feasible.

None of which changes the fact that we can't add oil to the US supply. We can only add oil to the world supply. it's a fungible good sold on a spot market. The short term difference between Brent and WTC is not a result of US production changes.

So you can make an argument on the impact of adding marginal supply, but you don't want to?

The issue is whether the oil producers want to put more supply into the market and drive down prices to their detriment. Oil drillers already have rights/leases on millions of US government acres that they are not active on.

Falling demand will also bring down prices sooner or later. Are Americans reacting to $4 a gallon gas by buying less?

 

[NYcarbineer]

The following table provided by the Bank of Kuwait gathers current reported break-even prices of major oil producing nations:
Oil Break-Even Prices
Nation US$/Barrel
Bahrain 40
Kuwait 17
Saudi Arabia 30
U.A.E. 25
Oman 40
Qatar 30
Canada’s oil sands 33


Price of Oil: Economic Breakeven vs. Political Breakeven Prices *|* Peak Oil News and Message Boards



Barrel price is WAY above that needed to bring marginal producers online to affect consumer prices.

Why would they want to dump oil into the market and sell product at lower margins if they can simply sit on it and dole it out at higher prices over a longer period of time. The demand is perpetual.

 

[SniperFire]

But we sell a considerable amount of the blue bar to others.
We don't get that oil.

You said we only produce 2% of the world's oil.

Is that correct, or not?

No...I think it is that we only hold 2% of the worlds oil reserves. We are the third highest producer of oil at 9,688,000 barrels a day. We use twice that.

Thank you for pointing out the mistake made by the OP by regurgitating Obama's lies.

And you do realize the '2% of the worlds oil reserves' is a political point as well?

'United States Now Has More Oil Than Saudi Arabia'

The Myth Of Scarce Oil

 

[healthmyths]

I just did. I can't be held accountable for your inability to understand it. You can't just magically force companies to add to the supply. Any contribution to supply will come as a result of areas that war economically infeasible becoming feasible - either due to higher prices or new technology. Either way, the US can't control the world supply of oil and US firms are very much price takers in that market. Therefore, adding new US supply to the world market will have a minuscule impact on the world market - and thus the US market.

Unless, of course, you recommend we nationalize the market.

DEFINE "minuscule impact on the world market"?

It might impact the world supply by a percentage point.

BECAUSE if the IDIOT President hadn't shut down the gulf, shut down pipelines, shut down coal plants, EPA'd the St. Croix 350,000 barrels /day refinery requiring $700 million in pollution controls that captured the remaining 2%!!!
Dumb f..k!!!
Would "minuscule" be releasing the 2 trillion barrels in DOMESTIC USA???

The US is producing more oil now than it did when Obama took office. Try a different mindless rant.

ARE YOU that stupid to think oh.. Obama came into office 2009.. turned OIL spigots on and production is more then when he took office?
YOU and your Obama plural of sycophants are showing so much naivete about business it is unbelievable you exist in the world!


"Oil discovered 40 years ago is the basis of current oil production."
Current World Oil Situation

SO how in the "f..k" can you be so stupid to credit Obama????


FACTS.. 10 years from discovery to Production!!!
The assumption that ANWR oil production would begin 10 years after legislation approves the Federal oil and natural gas leasing in the 1002 Area is based on the following 8-to-12 year timeline:

* 2 to 3 years to obtain leases, including the development of a U.S. Bureau of Land Management (BLM) leasing program, which includes approval of an Environmental Impact Statement, the collection and analysis of seismic data, and the auction and award of leases.
* 2 to 3 years to drill a single exploratory well. Exploratory wells are slower to drill because geophysical data are collected during drilling, e.g., rock cores and well logs. Typically, Alaska North Slope exploration wells take two full winter seasons to reach the desired depth.
* 1 to 2 years to develop a production development plan and obtain BLM approval for that plan, if a commercial oil reservoir is discovered. Considerably more time could be required if the discovered oil reservoir is very deep, is filled with heavy oil, or is highly faulted. The petroleum company might have to collect more seismic data or drill delineation wells to confirm that the deposit is commercial.
* 3 to 4 years to construct the feeder pipelines; to fabricate oil separation and treatment plants, and transport them up from the lower-48 States to the North Slope by ocean barge; construct drilling pads; drill to depth; and complete the wells.

EIA - Analysis of Crude Oil Production in the Arctic National Wildlife Refuge - Methodology and Assumptions


So again.. how fu..king naive and stupid of you and Obama to take credit for something that could realistically NEVER have happened in less then 3 years!

IDIOTS.. it take at least 10 years from discovery to production!!!

 

[8537]

The following table provided by the Bank of Kuwait gathers current reported break-even prices of major oil producing nations:
Oil Break-Even Prices
Nation US$/Barrel
Bahrain 40
Kuwait 17
Saudi Arabia 30
U.A.E. 25
Oman 40
Qatar 30
Canada’s oil sands 33


Price of Oil: Economic Breakeven vs. Political Breakeven Prices *|* Peak Oil News and Message Boards



Barrel price is WAY above that needed to bring marginal producers online to affect consumer prices.

Wait a second - you're claiming that the marginal cost of extraction in Canadian Shield sands is $33? With an EROI 3.3?

Why aren't all of these other places with marginal costs well below current prices increasing production?

 

[8537]

DEFINE "minuscule impact on the world market"?

It might impact the world supply by a percentage point.

BECAUSE if the IDIOT President hadn't shut down the gulf, shut down pipelines, shut down coal plants, EPA'd the St. Croix 350,000 barrels /day refinery requiring $700 million in pollution controls that captured the remaining 2%!!!
Dumb f..k!!!
Would "minuscule" be releasing the 2 trillion barrels in DOMESTIC USA???

The US is producing more oil now than it did when Obama took office. Try a different mindless rant.

ARE YOU that stupid to think oh.. Obama came into office 2009.. turned OIL spigots on and production is more then when he took office?

No, only you would make such a fucking stupid statement.

SO how in the "f..k" can you be so stupid to credit Obama????

Who credited Obama? I simply stated a fact.

FACTS.. 10 years from discovery to Production!!!
The assumption that ANWR oil production would begin 10 years after legislation approves the Federal oil and natural gas leasing in the 1002 Area is based on the following 8-to-12 year timeline:

So you're admitting that drilling ANWR won't affect current prices? Good, thx. So again.. how fucking naive and stupid of you

 

[Seawytch]

I would like to point out that the study highlighted in the OP has yet to be disputed. More drilling has NOT led to lower gas prices. Funny that...

 

[SniperFire]

The following table provided by the Bank of Kuwait gathers current reported break-even prices of major oil producing nations:
Oil Break-Even Prices
Nation US$/Barrel
Bahrain 40
Kuwait 17
Saudi Arabia 30
U.A.E. 25
Oman 40
Qatar 30
Canada’s oil sands 33


Price of Oil: Economic Breakeven vs. Political Breakeven Prices *|* Peak Oil News and Message Boards



Barrel price is WAY above that needed to bring marginal producers online to affect consumer prices.

Wait a second - you're claiming that the marginal cost of extraction in Canadian Shield sands is $33? With an EROI 3.3?

Why aren't all of these other places with marginal costs well below current prices increasing production?

They are part of a cartel and engage in price controls. Leftists enjoy enabling them by doing everything possible to keep free market oil off the market.

 

[healthmyths]

You know what is so unrelentingly obvious is OBAMA and supporters NEVER deal with the real world much less the FACTS!

Reading you Obamatrons comments... almost ALL are so vague.. NO FACTS supporting your inane naive comments!
"minuscle".. could impact 1%... my g...d... how dumb must you people be? I mean seriously to credit Obama for MORE oil production when the FACTS are it takes 10 years from discovery to production for oil? See this is why real people working in the real world find idiots like OBAMA and supporters so hard to deal with! Obama and supporters don't deal with the FACTS!
And the facts are that Obama has really screwed up our country and needs to voted out of office!