Nope. They're gone for good, but right count is up under Biden.
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Let's be Clear, Inflation is Much More due to Trump's Policies than Biden's
- Thread starter The Banker
- Start date
YoursTruly
Platinum Member
- Dec 21, 2019
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Trump wanted to print money to repay the national debt. That’s bananas
"Just run the presses—print money," Trump told Gary Cohn, the former director of the National Economic Council. "You don't get to do it that way," Cohn responded.qz.com
Trump was a monetary moron. But his sales pitch was amazing.
- Jan 19, 2010
- 67,332
- 61,518
- 3,605
The oil companies have profits because the oil price is over inflated because of the war on fossil fuels Joe has started... and the oil companies are not expanding drilling so it will get worse... in fact all prices are still inflated to the point people now must choose between meds and food...The demand went way down, but the prices still rose. That's not normal for any market or any commodity.
Biden played his part. The US oil companies hundreds of billions in profits prove that.
Oil companies are returning profits to stockholders and aiming for stability. Demand is currently soft.The demand went way down, but the prices still rose. That's not normal for any market or any commodity.
Biden played his part. The US oil companies hundreds of billions in profits prove that.
YoursTruly
Platinum Member
- Dec 21, 2019
- 8,838
- 5,490
- 940
Nope. They're gone for good, but right count is up under Biden.
Oil field hands are back to work. Those company owners either started a new company, or went to work for another. For oil industry employee's, that's the norm. You'll rarely find anyone in the oil industry who's been with any company long enough to retire.
Trump was a monetary moron. But his sales pitch was amazing.
Exactly! You hit the nail on the head.
US has the highest lift costs in the world and no economies of scale.Oil field hands are back to work. Those company owners either started a new company, or went to work for another. For oil industry employee's, that's the norm. You'll rarely find anyone in the oil industry who's been with any company long enough to retire.
YoursTruly
Platinum Member
- Dec 21, 2019
- 8,838
- 5,490
- 940
The oil companies have profits because the oil price is over inflated because of the war on fossil fuels Joe has started... in fact all prices are still inflated to the point people now must choose between meds and food...
The war on fossil fuels? LMAO.... Biden sucks at war. The only leases he shut down were ones not being used. And because of covid, it would be years before any oil company bid on those leases.
It was all a sham.
BTW, the price of oil is set by the global commodities market. Not the oil companies. Biden doesn't control wall street or the oil prices. Oil prices were sky high all over the world. Not just here in the US. If it was all Biden's fault, OPEC oil would've been much cheaper than US oil.
Very true. OPEC is much cheaper.The war on fossil fuels? LMAO.... Biden sucks at war. The only leases he shut down were ones not being used. And because of covid, it would be years before any oil company bid on those leases.
It was all a sham.
BTW, the price of oil is set by the global commodities market. Not the oil companies. Biden doesn't control wall street or the oil prices. Oil prices were sky high all over the world. Not just here in the US. If it was all Biden's fault, OPEC oil would've been much cheaper than US oil.
- Jan 19, 2010
- 67,332
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You don't get it.... oil companies are not investing in future drilling sites on public or private land because they and we all heard Joe Biden say he was ending gasoline cars by 2035.... we all know that is not going to happen but the oil companies can't take that chance... so they are switching to lesser quality crude deposits which the refineries abroad can refine... we must have clearer oil here to refine because of government regulation....The war on fossil fuels? LMAO.... Biden sucks at war. The only leases he shut down were ones not being used. And because of covid, it would be years before any oil company bid on those leases.
It was all a sham.
BTW, the price of oil is set by the global commodities market. Not the oil companies. Biden doesn't control wall street or the oil prices. Oil prices were sky high all over the world. Not just here in the US. If it was all Biden's fault, OPEC oil would've been much cheaper than US oil.
So 75% of newly drilled oil is pumped into ships and sent overseas....
Nostra
Diamond Member
- Oct 7, 2019
- 62,242
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Neither is Trump, Peabrain.Are you hysterical? Obama isn't president.
- Jan 19, 2010
- 67,332
- 61,518
- 3,605
OPEC reduces prices to hurt the economy of the USA and other nations... when we aren't able to drill anymore they will double their price per barrel... and we could see $8 per gal over night....Very true. OPEC is much cheaper.
In 2020 over 200 US oil producers went bankrupt.
Over 100 oil and gas companies went bankrupt in 2020
More than 100 oil and gas companies declared bankruptcy in 2020 after the coronavirus pandemic plunged the energy sector into the worst downturn in a generation.Forty-six exploration and production companies and 61 oil-field service companies filed for Chapter 11 bankruptcy last year, according to Haynes and Boone, a Dallas law firm tracking bankruptcies. The 107 oil and gas bankruptcies in 2020 were the most since 142 bankruptcies were filed during the last oil bust in 2016. [my highlight]
Over 100 oil and gas companies went bankrupt in 2020
More than 100 oil and gas companies declared bankruptcy in 2020 after the coronavirus pandemic plunged the energy sector into the worst downturn in a generation.
www.ogv.energy
- Nov 14, 2011
- 120,567
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No one is swallowing your horseshit. Biden borrow 6 trillion in one year.
Biden never borrowed $6t, fucking moron.
pknopp
Diamond Member
- Jul 22, 2019
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Except the Fed hasn't shut anything down that's substantial.
They have the easy, free money.
- Apr 1, 2011
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When did Forbes become the ultimate authority on economics, jackass?Take it up with Forbes.
- Apr 1, 2011
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He sure as hell did.Biden never borrowed $6t, fucking moron.
- Nov 14, 2011
- 120,567
- 64,249
- 2,635
He sure as hell did.
Link...
- Apr 1, 2011
- 169,942
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We're already doing that, dumbass. We've ben doing it since we went off the gold standard in 1914Trump wanted to print money to repay the national debt. That’s bananas
"Just run the presses—print money," Trump told Gary Cohn, the former director of the National Economic Council. "You don't get to do it that way," Cohn responded.
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