So where are the headlines... MSM: "Hunter Biden to get $75,000 to $500,000..."

[RoshawnMarkwees]

Just more BS, supply did nothing but expand under Biden, but hasn't kept up with demand.

Because the pace of supply was stymied.
Go annoy someone else. You’re dishonest.

 

[AntonToo]

OK... so you are saying that oil companies' executives don't consider net profits.
Think about it. These executives have a 100% excuse for raising prices TODAY by explaining that
Biden cuts the production sources by 25% i.e. Federal lands!

..wtf? That is a seriously cartoonish understanding of market set pricing.

Nobody gives a shit about anyone's excuses, oil futures contracts sell in open markets and if someone can sell it cheaper than you then no one is buying yours.

 

[AntonToo]

Because the pace of supply was stymied.
Go annoy someone else. You’re dishonest.

Supply was not stymed this year by anything Biden did.

Stop making shit up just because you have a political axe to grind.

 

[toobfreak]

Anyone been arrested lol?

Nope. Trump and his family, friends and advisers, no one has been arrested much less charged or convicted, so obviously they cannot be guilty of anything, and to add icing to the cake, more rioters at the capitol, the so-called "insurrectionists," those terrible Americans demanding honesty from their elections have again been sentenced to probation, asshole, not even one day in prison.

Life is good.

 

[healthmyths]

Supply was not stymed this year by anything Biden did.

Stop making shit up just because you have a political axe to grind.

Analysis: US oil companies are in no rush to solve Biden's gas price problem

US oil companies used to ramp up production at even the slightest hint of higher prices.

www.cnn.com

US oil companies are in no rush to solve Biden's gas price problem​

That drill-baby-drill strategy worked well for American drivers last decade, keeping prices at the pump relatively low. And it made the United States the king of the oil world, surpassing both Saudi Arabia and Russia in production.
Normally, the best cure for high prices is high prices, which incentivize more supply. And yet, even though US oil prices have surged by more than 65% this year, US oil production is about 14% below the levels of the end of 2019, before Covid erupted.
It's worth noting that US oil companies are cashing in on high prices.
Chevron (CVX) recently reported its fattest quarterly profit in eight years and record cash flow. Exxon's revenue soared by 60% last quarter.
Numbers like those are viewed as validation of the oil industry's newfound discipline.
And yet he can't tell Big Oil to drill-baby-drill and still credibly argue his administration is doing its part to save the planet.
Therein lies the inherent tension facing Biden right now. His climate ambitions are colliding head-on with economic reality.

 

[AntonToo]

Analysis: US oil companies are in no rush to solve Biden's gas price problem

US oil companies used to ramp up production at even the slightest hint of higher prices.

www.cnn.com

US oil companies are in no rush to solve Biden's gas price problem​

That drill-baby-drill strategy worked well for American drivers last decade, keeping prices at the pump relatively low. And it made the United States the king of the oil world, surpassing both Saudi Arabia and Russia in production.
Normally, the best cure for high prices is high prices, which incentivize more supply. And yet, even though US oil prices have surged by more than 65% this year, US oil production is about 14% below the levels of the end of 2019, before Covid erupted.
It's worth noting that US oil companies are cashing in on high prices.
Chevron (CVX) recently reported its fattest quarterly profit in eight years and record cash flow. Exxon's revenue soared by 60% last quarter.
Numbers like those are viewed as validation of the oil industry's newfound discipline.
And yet he can't tell Big Oil to drill-baby-drill and still credibly argue his administration is doing its part to save the planet.
Therein lies the inherent tension facing Biden right now. His climate ambitions are colliding head-on with economic reality.

There is NOT A SINGLE FUCKING WORD in any of this about Biden restricting supply.

Why are you wasting everyone's time with your bs?

 

[AntonToo]

Nope. Trump and his family, friends and advisers, no one has been arrested much less charged or convicted, so obviously they cannot be guilty of anything

Hey freak, did you ever get dropped on your head? Some things are really not adding up.

 

[healthmyths]

There is NOT A SINGLE FUCKING WORD in any of this about Biden restricting supply.

Why are you wasting everyone's time with your bs?

Still, in theory, Biden could hold talks with oil CEOs and urge them to turn on the taps to ease the pain on American drivers.
And they could then ask him to slash red tape and ease off environmental regulations.
But that's not really an option for Biden, who ran on the most aggressive climate agenda in US presidential history.

Analysis: US oil companies are in no rush to solve Biden's gas price problem

US oil companies used to ramp up production at even the slightest hint of higher prices.

www.cnn.com

 

[colfax_m]

Still, in theory, Biden could hold talks with oil CEOs and urge them to turn on the taps to ease the pain on American drivers.

CEOs are going to make the best financial decision for their company. They don’t give a shit about what a president says.

Money talks.

 

[healthmyths]

CEOs are going to make the best financial decision for their company. They don’t give a shit about what a president says.

Money talks.

Totally agree... money talks. And when you reduce your supply i.e. federal lands generate 25% of oil and gas consumed by USA, that means to CEOs the following:
1) Existing productive oil exploration done on more expensive private lands or purchased (dependent) on foreign oil.
2) Future oil production cost increase.
Raise the prices today for tomorrow the CEOs can't count on the Federal lands that produce 25% of the oil/gas.
Again I back up my statements with links.

Oil from federal lands tops 1B barrels as Trump eases rules​

Oil from federal lands tops 1B barrels as Trump eases rules

Oil production from federally-managed lands and waters topped a record 1 billion barrels last year

abcnews.go.com

The production figure was up 122 million barrels, or more than 13% from 2018. It includes oil from onshore and offshore parcels and American Indian-owned lands managed by the U.S. Interior Department during fiscal year 2019, which ended Sept. 30, federal officials said.
About one-quarter (25%) of U.S. oil is produced from federal lands, a figure that's held fairly steady for much of the last decade as drilling has increased on both public and private lands.
The amount of oil now coming from federal lands has broader geopolitical significance, giving the US a large enough stake in the world oil market to prevent the OPEC oil cartel from setting crude prices, said Sarp Ozkan, director of energy analysis at the industry data firm Enverus.

BUT no longer... remember Biden begging OPEC to increase production...while he shut down exploration on US land that created the first energy independence in 62 years...under who????

 

[colfax_m]

Totally agree... money talks. And when you reduce your supply i.e. federal lands generate 25% of oil and gas consumed by USA, that means to CEOs the following:
1) Existing productive oil exploration done on more expensive private lands or purchased (dependent) on foreign oil.
2) Future oil production cost increase.
Raise the prices today for tomorrow the CEOs can't count on the Federal lands that produce 25% of the oil/gas.
Again I back up my statements with links.

Oil from federal lands tops 1B barrels as Trump eases rules​

Oil from federal lands tops 1B barrels as Trump eases rules

Oil production from federally-managed lands and waters topped a record 1 billion barrels last year

abcnews.go.com

The production figure was up 122 million barrels, or more than 13% from 2018. It includes oil from onshore and offshore parcels and American Indian-owned lands managed by the U.S. Interior Department during fiscal year 2019, which ended Sept. 30, federal officials said.
About one-quarter (25%) of U.S. oil is produced from federal lands, a figure that's held fairly steady for much of the last decade as drilling has increased on both public and private lands.
The amount of oil now coming from federal lands has broader geopolitical significance, giving the US a large enough stake in the world oil market to prevent the OPEC oil cartel from setting crude prices, said Sarp Ozkan, director of energy analysis at the industry data firm Enverus.

BUT no longer... remember Biden begging OPEC to increase production...while he shut down exploration on US land that created the first energy independence in 62 years...under who????

Oil companies are sitting on large swaths of unused federal leases.

They’re not investing in production because the price will almost certainly go back down and they’ll lose their shirt. The lack of new federal leases has ZERO to do with it.

OPEC isn’t in a hurry to expand production either for the exact same reason.