Should US oil cpompanies who sell their oil outside of the US lose their subsidies?

[j-mac]

It's about time you acknowledged it. I'm too humble to point it out myself. As for what I do for a living, staying as informed as possible has worked great since 1985, and I haven't had to have a real job since 1997, when I began working totally for myself. I let morons make my money for me.

Translation: “I am jobless, and homeless, so I live with my parents at 30, and collect welfare.”

 

[Ray From Cleveland]

So that contradicts what the Town Hall parrots say, that Biden's not selling new leases on govt. land caused all the problems.

This is why GOP shills have a hard time beating left wing loons; they can't get their own propaganda straight or even consistent.

Just because the prices bid for Brent Sea crude go up is no reason to let global pirates plunder the American public, especially when these companies openly admit they're deliberately not re-investing in new drilling in order to pay out large dividends, even the three largest frackers have said it. The last thing oil companies want is lower prices.

They have very little control over it. When Trump left the White House we were paying on the national average $2.16 per gallon.

You have to understand how the market works. Investors (speculators) buy or sell oil based on the news of the day. It works that way for all our products in the market. So let's say Biden says he's going to do X. Now, we may not lose one barrel of oil yet, but in the market, everybody buys long contracts. Long meaning they expect to make money with the price going up. You see, you make the same exact money whether the price goes up or down. All you have to do is predict which way the market is going to go.

When you buy an oil contract, you own X amount of barrels of oil. It works like e-bay. You put your oil on the net, and people bid on it. The more bids, the higher the price goes. Again, it doesn't matter how much physical oil is in the system, it's what the investors think is going to happen That's why the market is often called the Futures Market. If you don't get rid of those contracts before the expiration date, they will physically come to your house with barrels of oil and ask where you want them to put it.

 

[DudleySmith]

You have to understand how the market works.

I fully understand how it works, Apparently you don't. Just because India or Europe have an oil shortage is no reason to loot the U.S. citizens with inflated prices. It's that simple.

 

[DudleySmith]

Translation: “I am jobless, and homeless, so I live with my parents at 30, and collect welfare.”

lol says a guy who lives out of a bunk in the back of a truck.

 

[j-mac]

lol says a guy who lives out of a bunk in the back of a truck.

I guess mooching off mom and dad, and the taxpayer are your values, while you denigrate working people….DUDley is right.

 

[Ray From Cleveland]

So you think a drop of less than a million bls raised prices nearly 100%? lol that's ridiculous.

Not really. When Dementia and Whorris were running, both refused to answer the question whether they would stop fracking. Whorris said when she was running for President, that yes she would issue an EO to stop all fracking on day one of her presidency.

They won and the market got nervous. When Dementia got into the White House, he showed them all that anti-fossil fuel discussions was more than just talk. He stopped the Keystone on day one, and the market responded accordingly. Then he halted all new exploration and drilling on public lands. The market responded. When our largest gasoline pipeline was hacked by the Russians, they asked Dementia about it and he stated it's not a government problem, it's a private market problem, and the price of gasoline went up again. He then made a bunch of anti-energy EO's, then the Ukraine invasion.

Everything Dementia has done since taking office was negative when it comes to energy. That's why we're paying twice as much today for fuel as before he got in.

 

[Ray From Cleveland]

I fully understand how it works, Apparently you don't. Just because India or Europe have an oil shortage is no reason to loot the U.S. citizens with inflated prices. It's that simple.

Right. I spent about two years trading commodities contracts, but you know more about it than I do.

 

[dblack]

His opinion is based on an error. The US doesn't export much oil.

Yes, I assumed as much. I offered a general opinion that stands regardless.

 

[there4eyeM]

Have the math challenged "admirals" managed to divide the net profit of Exxon by the number of seconds in a year yet to verify my figures?

 

[surada]

Have the math challenged "admirals" managed to divide the net profit of Exxon by the number of seconds i, a year yet to verify my figures?

What?

 

[there4eyeM]

Do you think if they produce more oil they should learn less?

Really, it is difficult to interpret your posts. Mostly, you seem fairly intelligent. Obviously, I was talking about how much money a company such as Exxon nets in a year and how it is glaringly clear it presents a menace to representative democracy. How much they make is the quantity of their profit. Is that clear now?

 

[surada]

Really, it is difficult to interpret your posts. Mostly, you seem fairly intelligent. Obviously, I was talking about how much money a company such as Exxon nets in a year and how it is glaringly clear it presents a menace to representative democracy. How much they make is the quantity of their profit. Is that clear now?

I love Exxon as far back as when it was Esso. Remember Esso Libya?

 

[there4eyeM]

What?

See post #76.

 

[there4eyeM]

I love Exxon as far back as when it was Esso. Remember Esso Libya?

Maybe it still isn't clear.

 

[Flash]

We always hear from the right that US oil can lower gas prices, but the truth is that the vast majority of US oil is sold to other countries, because the oil companies can make more money exporting it than selling it domestically.

I think we should stop subsidizing any oil company that does not sell at least 51% of the oil they drill in the US. The American taxpayers shouldn't be forced to subsidize companies that only care about profit and don't care about helping their country.

What subsidizes are you talking about?

Most of the time when you stupid uneducated Moon Bats talk about oil company subsidies you mean the legitimate tax deductions that all other industries get.

 

[whitehall]

If the U.S. once again became energy independent there is nothing wrong with selling oil to other countries. It's all profit for the U.S. The subsidies could be regulated.

 

[surada]

For the math challenged, according to figures easily accessible, Exxon, as one example of oil companies, netted approximately $728.726262534, or almost $730 per second, last year.

They earn the money.

 

[bendog]

lol says a guy who lives out of a bunk in the back of a truck.

It's actually comfortable, but the generator's noisy and the toilet leave much to be desired.

 

[DudleySmith]

Everything Dementia has done since taking office was negative when it comes to energy. That's why we're paying twice as much today for fuel as before he got in.

lol rubbish. You're paying double because they can get you to pay double; it's not a 'free market', never has been.

 

[Ray From Cleveland]

lol rubbish. You're paying double because they can get you to pay double; it's not a 'free market', never has been.

Coming from a person that has no idea WTF he's talking about. Trust me, I do. I studied intently on the subject.