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No, because that is not a lie.
People in business don't focus just on today, prices largely reflect what the perceived future will look like.
We can't produce and ship either enough crude or refined products to Europe to help them without creating price hikes here.
Actually, the price is set by the companies that buy it.
And ultimately it is the buyers who set the price. If the price is higher than they are willing to pay they don't buy and it comes down.The markets set the price of oil which leads everything else.
But you know this.
And ultimately it is the buyers who set the price. If the price is higher than they are willing to pay they don't buy and it comes down.
The reverse is also true. If they want it bad enough they will get into a bidding war with other buyers.
Production isn't keeping up. We're not producing enough oil to both meet all of our needs and the increased demand from Europe who we pushed to cut their dependency on Russian oil and refined products.Yeah, all they have to do is not go to work or anything else and maybe the price comes down. As already pointed out, production is keeping up so with the fact that price does not reflect actual fundementals, maybe not.
Those bidding are not actually buying oil.
But you know this already
yep ou production is up…oil companies are producing oil.More bullshit. It takes no less than about 7 years for a new lease to start producing oil. Prices today are not based on 7 years from now.
And again, as has been shown repeatedly, oil leases are up under Biden, as is production. So your bullshit doesn't float.
The refiners actually bid on both long and short term contracts as well as for immediate delivery.Yeah, all they have to do is not go to work or anything else and maybe the price comes down. As already pointed out, production is keeping up so with the fact that price does not reflect actual fundementals, maybe not.
Those bidding are not actually buying oil.
But you know this already
More bullshit. It takes no less than about 7 years for a new lease to start producing oil. Prices today are not based on 7 years from now.
And again, as has been shown repeatedly, oil leases are up under Biden, as is production. So your bullshit doesn't float.
Production isn't keeping up. We're not producing enough oil to both meet all of our needs and the increased demand from Europe who we pushed to cut their dependency on Russian oil and refined products.
That has changed the dynamic of the entire industry.
The refiners actually bid on both long and short term contracts as well as for immediate delivery.
What happens in Europe affects us. That has been true now for over a century. In fact, what was happening in Europe is why this country was founded.We also on top of everything else need to start minding our own business.
I've already stated it can take years from leasing to production. Keep up.
It doesn't take a decade once you have the permits in hand and the prohibition affected projects that were already permitted.The part which eludes you is your claim that prices now are affected by drilling almost a decade later.
It doesn't take a decade once you have the permits in hand and the prohibition affected projects that were already permitted.
Couldn't be--Biden assured his followers that taxes wouldn't increase on anyone making 400K or less. Bwahahahahaha.Bidenflation: 12% on food = a Biden tax on anyone who eats.
Bidenflation: Gas prices have doubled due to his policies.Couldn't be--Biden assured his followers that taxes wouldn't increase on anyone making 400K or less. Bwahahahahaha.
I'm talking about both, you don't get to limit the conversation.It takes about 7-10 years from when a lease is obtained. And we're talking about leases since Biden's been in office.
I'm talking about both, you don't get to limit the conversation.
