Shale Giants Swear They Won't Drill More, Even At $200 Barrel

[Delldude]

Carter had really bad intelligence on Iran. Our people were too close to the shah. We were blindsided. One of my closest friends was there working for the shah and reporting to the US government. He said they blew it.

In more ways than one. Military interoperability was a biggie.

 

[surada]

Yes he did. From his own words:

“I was extraordinarily proud of the Paris accords because — you know, I know we’re in oil country and we need American energy, and by the way, American energy production,” Obama told the audience gathered at Rice University’s Baker Institute on Tuesday night. “You wouldn’t always know it but it went up every year I was president. That whole, suddenly America’s like the biggest oil producer and the biggest gas — that was me, people.”

Obama Claims Credit for Boom in U.S. Oil Production, Praises Paris Climate Accords | National Review

It did go up every year he was president. Being happy for the country is only natural.

 

[surada]

Carter had really bad intelligence on Iran. Our people were too close to the shah. We were blindsided. One of my closest friends was there working for the shah and reporting to the US government. He said they blew it.

Were you ever in Iran?

 

[Markle]

My God you are dense. Oil companies bought and leased rigs because the price of a barrel of oil was high. They never invest when the ppb is low.

Were you ever in Iran?

Do you get answers when talking to yourself?

 

[surada]

Do you get answers when talking to yourself?

Your cut and paste is bullshit.

 

[Delldude]

Were you ever in Iran?

 

[Papageorgio]

Independent Petroleum Association of America | Hydraulic Fracturing

www.ipaa.org

From 2007 to 2016, annual U.S. oil production increased 75 percent, while natural gas production increased 39 percent, thanks to the advancements in horizontal drilling and fracking technology.

So Obama did nothing to spur the gas production? I didn’t think so.

 

[TeeDub]

The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation.

Crude prices hurtling toward $100 a barrel typically would spark a frenzy of new drilling by independent explorers in shale fields from the desert Southwest to the Upper Great Plains -- but not this year. Influential players like Pioneer Natural Resources Co., Devon Energy Corp. and Harold Hamm’s Continental Resources Inc. just pledged to limit 2022 production increases to no more than 5%, a fraction of the 20% or higher annual growth rates meted out in the pre-pandemic era.

Shale giants swear they won't drill more, even at $200 a barrel

The timing couldn’t be worse for consumers, but the message from shale country is loud and clear: the independents won’t repeat the mistakes of the past by flooding the world with cheap oil.

worldoil.com

So much for the inflation excuse.

Would you bail out Joe after he cut you off at the knees? The fool shut down pipelines and pulled back permits and forced these companies to lay off thousands of workers. FUCK HIM is the attitude they will have for a while. How long does it take to ramp up production when you crews were laid off because of a old fool trying to appease progressives, too long!

 

[surada]

Fuck you

Mac, the rules of reason apply. Oil men don't risk it all when the ppb is lower than production costs. It a business not a altruistic endeavor.

 

[surada]

Would you bail out Joe after he cut you off at the knees? The fool shut down pipelines and pulled back permits and forced these companies to lay off thousands of workers. FUCK HIM is the attitude they will have for a while. How long does it take to ramp up production when you crews were laid off because of a old fool trying to appease progressives, too long!

You're incapable of learning. That's Trump's problem too.

 

[Mac-7]

Mac, the rules of reason apply. Oil men don't risk it all when the ppb is lower than production costs. It a business not a altruistic endeavor.

You should have said that before instead of playing internet tough guy

in which case I agree

 

[surada]

You should have said that before instead of playing internet tough guy

in which case I agree

I'm not an Internet tough guy. The oil business is business... Capitalism at it's finest.

 

[TeeDub]

You're incapable of learning. That's Trump's problem too.

You are incapable of rational thought. Oil is higher today than the during Obama's term when fracking was in play, it is almost $100 a barrel. And why the hell would I want to go to that shithole Iran? You are nuts.

 

[surada]

You are incapable of rational thought. Oil is higher today than the during Obama's term when fracking was in play, it is almost $100 a barrel. And why the hell would I want to go to that shithole Iran? You are nuts.

Brent passed $100 a barrel last week. There's strong demand and limited supply. I have already explained three times what is going on. It's not Bidens fault unless you just want to have a tantrum. Fasten your seatbelt, it's going to get rough.

 

[surada]

Would you bail out Joe after he cut you off at the knees? The fool shut down pipelines and pulled back permits and forced these companies to lay off thousands of workers. FUCK HIM is the attitude they will have for a while. How long does it take to ramp up production when you crews were laid off because of a old fool trying to appease progressives, too long!

You still haven't learned anything.

 

[Papageorgio]

Confidence in leadership could be leading to some the added costs. Businesses are worried that the economy will slow way down, with inflation, higher interest rates, the market slowing down. Then we have all the stimulus pretty well spent, supply chains still not doing well. This all leads to businesses changing investment and costs.

 

[Markle]

Pipelines do not extract petroleum from the planet it does transport it yet so does planes, trains and ships. The US has over 200,000 miles of pipelines for petroleum how is one pipeline less than one hundred miles of Canadian oil going to interfer with US oil production?

Oil is transported by...PLANES? Who knew?

 

[Markle]

Carter had really bad intelligence on Iran. Our people were too close to the shah. We were blindsided. One of my closest friends was there working for the shah and reporting to the US government. He said they blew it.

Well, just so a friend of yours said so, in 1979, what could be more solid?.

 

[TeeDub]

Thanks for posting this. Domestic producers are not investing in additional capacity. They are returning profits to the shareholders.

You don't know shit, ever heard of Valero? Now go plug in your scooter.

 

[surada]

President Crapsalot has talked with the Saudis, but has he held talks with American gas and oil CEOs? Has he made any offers to slash red tape and ease off environmental regulations?

Oh, I forgot. That's not really an option for the Crapmeister in Chief. He ran on the most aggressive climate agenda in US presidential history. His voters, the climate scientists, and even the International Energy Agency all demanded that US oil companies need to stop drilling now to reduce greenhouse gas emissions they claimed were warming the planet. And Sir Shitsalot was more than happy to oblige them, wasn't he?

How 'bout that keystone XL pipeline? Way to go Brandon.

You sure are keen for the Chinese to make a profit at our expense.