Oil Is Dropping

[Wyatt earp]

Water skied? Ain't nothing compared to big waves.

I know,.. Brother I know but. You can't compare the two.

When I was in South Carolina I could go out side my house and almost pet a baby fawn and the same in when I lived in Idaho.

 

[Missouri_Mike]

Because oil prices are decided on the global market, and prices are up all over the world.
. In fact, your question is so silly and has such and obvious, easy answer, that I think the burden lies on YOU to argue why gas prices would not have risen, if the orange pile of shit were still president.

Because he wouldn’t have killed the XL or our energy independence.

Hiw is this so hard for you morons to grasp?

 

[Clipper]

That car has all the price of a vette and all the performance of a Pinto.

If government were really interested in forcing us to buy shitty no-range gutless battery cars to to "save the planet" they would give subsidies to make them 1/2 the cost of gas cars.

Fat chance. It's all bullshit and you know it.

Who in the government is forcing anyone to buy EV's?

Asking for a friend.

 

[Wyatt earp]

Sucks to be you, why the fuck would anyone buy a big Mac meal every day?

Learn how cook

My wife died in 2009

 

[Harpy Eagle]

My wife died in 2009

Sorry to hear that. Still no reason to eat fast food every day. You could do one of the home delivery meal prep deals for as much as you spend at MacDs

 

[Missouri_Mike]

COVID is what happened. In 2020 the US cut its oil production by 20% and both OPEC and Russia cut theirs.

At this point supply cannot keep up with demand, even without removing Russia's oil from the equation.

Here in the US oil production is up 16% since Feb 2021. At the current rate it is growing it will surpass the highest before COVID around Nov or Dec of this year

It is much easier to stop production than to ramp it back up. But we are getting there and the US oil companies have said they would increase it even faster, but not sure how much faster than can given the limitations of labor availability

Oh no. Not covid. The excuse for everything.

Shockingly cutting our own production has ended up causing shortages.

How the fuck are you going to limit drilling, production, pipelines and leases and get back to where it was without that shit. You’re a moron.

Yes, it’s pretty much impossible to get to previous production numbers when Bidumb closes all avenues to getting there.

 

[Harpy Eagle]

Shockingly cutting our own production has ended up causing shortages.

Not shockingly at all, damn shame your guy was pushing for it, as well as threatening SA to cut theirs as well.

How the fuck are you going to limit drilling, production, pipelines and leases and get back to where it was without that shit. You’re a moron.

Fake news, the US is up 16% in oil production since Feb of 2021. We have gone from 374 active rigs when Biden took over to 601 and climbing.

As for leases....

New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%

Center for Biological Diversity: Thousands of Permits OK’d Despite President’s Authority to End Drilling by 2035

biologicaldiversity.org

Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management’s New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits — more than twice the 71 drilling permits Trump approved in that state in his first year.

Yes, it’s pretty much impossible to get to previous production numbers when Bidumb closes all avenues to getting there.

Yet we are doing it, and growing faster than the 3 year average under the last guy prior to COVID. It is almost as if the POTUS does not actually control oil production.

 

[Missouri_Mike]

Not shockingly at all, damn shame your guy was pushing for it, as well as threatening SA to cut theirs as well.



Fake news, the US is up 16% in oil production since Feb of 2021. We have gone from 374 active rigs when Biden took over to 601 and climbing.

As for leases....

New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%

Center for Biological Diversity: Thousands of Permits OK’d Despite President’s Authority to End Drilling by 2035

biologicaldiversity.org

Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management’s New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits — more than twice the 71 drilling permits Trump approved in that state in his first year.



Yet we are doing it, and growing faster than the 3 year average under the last guy prior to COVID. It is almost as if the POTUS does not actually control oil production.

Yet we were hesitant to embargo Russian oil. Why would that be if we were so energy independent?

 

[FA_Q2]

Yet we were hesitant to embargo Russian oil. Why would that be if we were so energy independent?

Because that raises prices. No matter what your local production is.

And, as this thread shows quite clearly, people blame the current president when that happens.

 

[Wyatt earp]

Sorry to hear that. Still no reason to eat fast food every day. You could do one of the home delivery meal prep deals for as much as you spend at MacDs

MacDs. Value meal $8.58

A lb of ham $5 bucks

Rye bread $5.00 ( you might get 8 sandwiches)

Potato chips $85 cents

Missing my wife priceless

 

[Sunsettommy]

View attachment 616382

It was down to $20/barrel in April 2020. so yes, it was below $50/barrel during his administration.

Below $50/barrel from February 2020 to November 2020

LINK

 

[Sunsettommy]

You can see for yourself the price of oil started at $50 during Trump, and never went below that. In fact it stayed above that and even went into the mid-60s, except during the depths of the pandemic.

Crude Oil Prices - 70 Year Historical Chart

Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

www.macrotrends.net

LOL YOUR link actually shows it was $20.86/barrel April 2020

 

[Baron Von Murderpaws]

Gas just jumped from $3.10 a gallon for the cheapest here, to over $4.00 a gallon for the cheapest!!!!

 

[Harpy Eagle]

Yet we were hesitant to embargo Russian oil. Why would that be if we were so energy independent?

I never said we were energy independent. Energy independence is a myth. Oil is a global commodity sold on a global market.

 

[Harpy Eagle]

It was down to $20/barrel in April 2020. so yes, it was below $50/barrel during his administration.

Below $50/barrel from February 2020 to November 2020

LINK

So, then that time would fall under this statement....Only during the pandemic, dipshit.

 

[Harpy Eagle]

LOL YOUR link actually shows it was $20.86/barrel April 2020

except during the depths of the pandemic.

 

[Mac1958]

I never said we were energy independent. Energy independence is a myth. Oil is a global commodity sold on a global market.

These people have to hope that oil prices stay high or even increase.

This is the destructive nature of tribalism, as clear as a freakin' bell.

 

[Turtlesoup]

High gas prices give the Trumptards something to be mad about.

Trump is hoping and praying our economy crashes so he can step in as the savior.

]

What do you mean hoping the economy is crashing? We are in a bear market hun.

 

[Mac1958]

WT peaked (hopefully) on March 8 at $123.70, at $95.74 as I type this.

That's 22.60%. Fingers crossed.

 

[Mac1958]

What do you mean hoping the economy is crashing? We are in a bear market hun.

The stock market is not the economy.

We are not in a bear market. By any measure.

Holy shit. Two absurd comments in a row.

On no topic is the arrogant ignorance of Trumpism more clear than economics and markets.