The U.S. Is Pumping Oil Faster Than Ever

[g5000]

Drill, baby, drill!

The U.S. is pumping oil faster than ever. Republicans don’t care.​

​

The GOP narrative has a major hole: U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024. But the ever-increasing flow of U.S. crude has failed to keep a lid on gasoline prices, showing once again that a global market drives the fuel prices that shape presidents’ political futures.

And that means events far beyond the nation’s borders will play a sizable role in voters’ verdict on “Bidenomics” — as global oil prices rise and fall in response to banking conditions in Europe, China’s slumping real estate market, Vladimir Putin’s war in Ukraine and the latest maneuvers by Saudi Arabia.

[snip]

U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast.




This reality has not stopped dishonest Republicans from lying:


In one campaign ad, former Vice President Mike Pence pretends to fill his pickup truck and blames Biden’s energy policy for “causing real hardship” for Americans, while ex-South Carolina Gov. Nikki Haley has vowed to bring oil production back to the United States.

And Sen. Tim Scott (R.-S.C.) railed last month on the Biden administration, which he asserted “has shut down energy production in America.”

“Why won’t this President tap into our abundant energy resources here at home and bring down prices at the pump?” he asked.

In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.

 

[elektra]

More bullshit, we have tons of oil but we dont?

Gas is more expensive, and rising but everything the Democrats do is lowering energy prices?

We have less refining capacity yet the Democrats present these outrageous lies.

Biden and the democrats have said they will destroy fossil fuels. The democrats are making fossil fuels expensive. And then we get bullshit propaganda that it is not Biden and the Democrats fault.

welcome to he day before the end, when everything we are told is the opposite of what we see and live.

okay,, democrats can not control the price of oil. That makes them useless at governing and ruling our economy.

Democrats admit they can not govern, everything is beyond their ability. So get the fuck out and let MAGA fix your mess.

 

[The5thHorseman]

Drill, baby, drill!

The U.S. is pumping oil faster than ever. Republicans don’t care.​

​

The GOP narrative has a major hole: U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024. But the ever-increasing flow of U.S. crude has failed to keep a lid on gasoline prices, showing once again that a global market drives the fuel prices that shape presidents’ political futures.

And that means events far beyond the nation’s borders will play a sizable role in voters’ verdict on “Bidenomics” — as global oil prices rise and fall in response to banking conditions in Europe, China’s slumping real estate market, Vladimir Putin’s war in Ukraine and the latest maneuvers by Saudi Arabia.

[snip]

U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast.




This reality has not stopped dishonest Republicans from lying:


In one campaign ad, former Vice President Mike Pence pretends to fill his pickup truck and blames Biden’s energy policy for “causing real hardship” for Americans, while ex-South Carolina Gov. Nikki Haley has vowed to bring oil production back to the United States.

And Sen. Tim Scott (R.-S.C.) railed last month on the Biden administration, which he asserted “has shut down energy production in America.”

“Why won’t this President tap into our abundant energy resources here at home and bring down prices at the pump?” he asked.

In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.

I demand that this thread be moved to "USMB A&M"

 

[The5thHorseman]

More bullshit, we have tons of oil but we dont?

Gas is more expensive, and rising but everything the Democrats do is lowering energy prices?

We have less refining capacity yet the Democrats present these outrageous lies.

Biden and the democrats have said they will destroy fossil fuels. The democrats are making fossil fuels expensive. And then we get bullshit propaganda that it is not Biden and the Democrats fault.

welcome to he day before the end, when everything we are told is the opposite of what we see and live.

okay,, democrats can not control the price of oil. That makes them useless at governing and ruling our economy.

Democrats admit they can not govern, everything is beyond their ability. So get the fuck out and let MAGA fix your mess.

HOW ARE THEY ACCOMPLISHING THIS IF WE ARE PUMPING MORE OIL?

HAVE YOU CONSIDERED THE POSSIBILITY THAT YOU MAY BE CREDULOUS?

 

[AzogtheDefiler]

Drill, baby, drill!

The U.S. is pumping oil faster than ever. Republicans don’t care.​

​

The GOP narrative has a major hole: U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024. But the ever-increasing flow of U.S. crude has failed to keep a lid on gasoline prices, showing once again that a global market drives the fuel prices that shape presidents’ political futures.

And that means events far beyond the nation’s borders will play a sizable role in voters’ verdict on “Bidenomics” — as global oil prices rise and fall in response to banking conditions in Europe, China’s slumping real estate market, Vladimir Putin’s war in Ukraine and the latest maneuvers by Saudi Arabia.

[snip]

U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast.




This reality has not stopped dishonest Republicans from lying:


In one campaign ad, former Vice President Mike Pence pretends to fill his pickup truck and blames Biden’s energy policy for “causing real hardship” for Americans, while ex-South Carolina Gov. Nikki Haley has vowed to bring oil production back to the United States.

And Sen. Tim Scott (R.-S.C.) railed last month on the Biden administration, which he asserted “has shut down energy production in America.”

“Why won’t this President tap into our abundant energy resources here at home and bring down prices at the pump?” he asked.

In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.

Oil is traded on futures and Biden said he wants to end all fossil fuels. Hence the high gas prices and wait til the cold weather hits…

Guess you don’t understand business and finance?

 

[BlindBoo]

That can't be true. Didn't Biden destroyed the US Oil Patch? Just listen to any Neo Republican. That Talking Point was set in stone the day he took office, and they still believe it.

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

 

[elektra]

HOW ARE THEY ACCOMPLISHING THIS IF WE ARE PUMPING MORE OIL?

HAVE YOU CONSIDERED THE POSSIBILITY THAT YOU MAY BE CREDULOUS?

how are they accomplishing what?

Have you considered you might not be able to use reason and logic the same as me or anyone else. You really do not seem that smart.

So what are they accomplishing that might post contradicts?

 

[BlindBoo]

We have less refining capacity yet the Democrats present these outrageous lies.

Says who? We export over 6 mbd of refined petroleum produce every day. Not to mention million of barrels a day of crude oil. The refiners increased capacity at their old plants to avoid the new laws they'd have if they build new ones.

Weekly U.S. Percent Utilization of Refinery Operable Capacity (Percent)

I think we've been energy independent for most all of 2023.

U.S. Imports & Exports

 

[elektra]

Says who? We export over 6 mbd of refined petroleum produce every day. Not to mention million of barrels a day of crude oil. The refiners increased capacity at their old plants to avoid the new laws they'd have if they build new ones.

Weekly U.S. Percent Utilization of Refinery Operable Capacity (Percent)

I think we've been energy independent for most all of 2023.

U.S. Imports & Exports

and you think that graph shows increased refining capacity?

That graph you linked to shows the percent of existing refining capacity being used. We lost the largest refinery in the North East, it was shutdown and closed forever. The graph you show, does not reflect a lost of refining capacity, just what is being used.

And yes, exports are up, meaning we have less supply in the USA which means we pay more.

 

[The5thHorseman]

Oil is traded on futures and Biden said he wants to end all fossil fuels. Hence the high gas prices and wait til the cold weather hits…

Guess you don’t understand business and finance?

Futures are a hedging device, Imbecile.

 

[The5thHorseman]

how are they accomplishing what?

Have you considered you might not be able to use reason and logic the same as me or anyone else. You really do not seem that smart.

So what are they accomplishing that might post contradicts?

If the price of oil is set on the WORLD market, and 92% the domestic supply of it is outside federal jurisdiction, how does anything democrats say affect gas prices?

 

[whitehall]

"Faster than ever"? What does that mean? It's not reality, it's just words. Are lefties going to keep relying on cheap cliches while gas rises to $5.00 per gallon?

 

[BlindBoo]

and you think that graph shows increased refining capacity?

That graph you linked to shows the percent of existing refining capacity being used. We lost the largest refinery in the North East, it was shutdown and closed forever. The graph you show, does not reflect a lost of refining capacity, just what is being used.

And yes, exports are up, meaning we have less supply in the USA which means we pay more.

Never said it did. It reflects the extra 6 million barrels a day of refined product they can export and still meet the need of the country, without building new and expensive plants.

On March 16, ExxonMobil announced the beginning of operations at the expansion of its Beaumont refinery, adding 250,000 barrels per day (b/d) of capacity, according to the company’s announcement. The expansion makes the oil refinery one of the largest in the United States as measured by crude oil distillation capacity.

Beaumont refinery expansion boosts Gulf Coast petroleum refining capacity - U.S. Energy Information Administration (EIA)

www.eia.gov

 

[surada]

W

Says who? We export over 6 mbd of refined petroleum produce every day. Not to mention million of barrels a day of crude oil. The refiners increased capacity at their old plants to avoid the new laws they'd have if they build new ones.

Weekly U.S. Percent Utilization of Refinery Operable Capacity (Percent)

I think we've been energy independent for most all of 2023.

U.S. Imports & Exports

We use 20 million bpd... so we're still importing 7-9 million bpd.

 

[22lcidw]

HOW ARE THEY ACCOMPLISHING THIS IF WE ARE PUMPING MORE OIL?

HAVE YOU CONSIDERED THE POSSIBILITY THAT YOU MAY BE CREDULOUS?

Excuses, excuses, excuses.

 

[elektra]

Never said it did. It reflects the extra 6 million barrels a day of refined product they can export and still meet the need of the country, without building new and expensive plants.

On March 16, ExxonMobil announced the beginning of operations at the expansion of its Beaumont refinery, adding 250,000 barrels per day (b/d) of capacity, according to the company’s announcement. The expansion makes the oil refinery one of the largest in the United States as measured by crude oil distillation capacity.

Beaumont refinery expansion boosts Gulf Coast petroleum refining capacity - U.S. Energy Information Administration (EIA)

www.eia.gov

so what, we lost a refinery that was bigger than that expansion and we do not get the pipelines we needs to bring all that refined product in Texas to us in New England

The fact of the matter is, Biden and the Democrats with the help of RINOs raised the cost of gasoline and oil. They have raised the cost of all energy in the USA. That is not the result of the world market, it is the policy of the Democrats and Republicans, making commodities expensive, hence they make a fortune on Wall st.

 

[The5thHorseman]

Excuses, excuses, excuses.

For what is "more supply" an excuse?

 

[The5thHorseman]

so what, we lost a refinery that was bigger than that expansion and we do not get the pipelines we needs to bring all that refined product in Texas to us in New England

The fact of the matter is, Biden and the Democrats with the help of RINOs raised the cost of gasoline and oil. They have raised the cost of all energy in the USA. That is not the result of the world market, it is the policy of the Democrats and Republicans, making commodities expensive, hence they make a fortune on Wall st.

The fact of the matter is, Biden and the Democrats with the help of RINOs raised the cost of gasoline and oil

You have no idea what you're talking about.

 

[elektra]

If the price of oil is set on the WORLD market, and 92% the domestic supply of it is outside federal jurisdiction, how does anything democrats say affect gas prices?

you been told thousands of times, you wont admit that the facts are what they are, facts

We set the price of oil, as the largest economy, as the richest country.

How does the richest most powerful country in the world control prices? How does the country that creates the world's supply of money control prices.

How about quit being a partisan hack and just admit the truth.

 

[AzogtheDefiler]

Futures are a hedging device, Imbecile.

Not when it comes to oil. Last time you tried to call me out, you got burned. Want to try it again? Are you not tired of having me constantly school you?

What Determines Oil Prices?

Understand the economic factors and other market forces that impact oil prices.

www.investopedia.com