To all you pro oil folks out there.

[DudleySmith]

You made the 2 year claim. Why don't you run away from it? LOL!

And you can't show that Exxon ever prefers $60 oil to $100 oil.

Not even once.

I don't have to, dumbass. You just think I do, and you aren't serious enough to bother with. People can look it all up on their own. I don't answer questions over and over and over that have already been answered, just because you lie and say they haven't been like a 10 year old.

 

[KissMy]

“Ultimately, companies have to make a decision to risk their capital… nobody knows how this episode is going to play out,” Mark Viviano, managing partner at Kimmeridge, a private equity firm focused on oil and gas, told a packed conference room on March 8. “I don’t think it’s realistic to think there’s going to be a collective industry response to this crisis. Unfortunately, it’s just not the way the industry is.”

Typically, a steep rise in oil prices would drive a steep uptick in drilling, but this time around may be different. Between June 2014 and July 2016, the U.S. benchmark price of a barrel of oil declined from more than $100 dollars to around $30. After the industry suffered huge losses in the years leading up to the COVID-19 pandemic, investors continue to prioritize safe profits.

So even though the Biden administration has enacted very few climate regulations on oil and gas, industry leaders say they continue to feel the climate pressure from investors. Getting more oil flowing requires capital and comes with high risks in a volatile oil market.

 

[Toddsterpatriot]

I don't have to, dumbass. You just think I do, and you aren't serious enough to bother with. People can look it all up on their own. I don't answer questions over and over and over that have already been answered, just because you lie and say they haven't been like a 10 year old.

 

[DudleySmith]

lol says the loser who never responds to what posters say and snivels when he gets ignored.

 

[LeftofLeft]

So why are you 'free market' types claiming the U.S. has to raise prices according to what Brent crude sells for to non-producing countries in Asia or Poland, then? It's ridiculous 'logic'.

Where are you getting that? I’m saying I want the US to not be as vulnerable to the global market for oil. Whether we do that by exploring and producing more oil or finally bring a viable alternative to market, the outcome is the same.

 

[DudleySmith]

“Ultimately, companies have to make a decision to risk their capital… nobody knows how this episode is going to play out,” Mark Viviano, managing partner at Kimmeridge, a private equity firm focused on oil and gas, told a packed conference room on March 8. “I don’t think it’s realistic to think there’s going to be a collective industry response to this crisis. Unfortunately, it’s just not the way the industry is.”

Typically, a steep rise in oil prices would drive a steep uptick in drilling, but this time around may be different. Between June 2014 and July 2016, the U.S. benchmark price of a barrel of oil declined from more than $100 dollars to around $30. After the industry suffered huge losses in the years leading up to the COVID-19 pandemic, investors continue to prioritize safe profits.

So even though the Biden administration has enacted very few climate regulations on oil and gas, industry leaders say they continue to feel the climate pressure from investors. Getting more oil flowing requires capital and comes with high risks in a volatile oil market.

Indies are drilling all they can; the big boys aren't.

Guess which of the two demographics controls the most leases, rigs, and refineries?

 

[DudleySmith]

Where are you getting that? I’m saying I want the US to not be as vulnerable to the global market for oil. Whether we do that by exploring and producing more oil or finally bring a viable alternative to market, the outcome is the same.

I'm not 'getting at' anything; I asked a simple basic question. Any businessman would know exactly what I asked.

 

[LeftofLeft]

I'm not 'getting at' anything; I asked a simple basic question. Any businessman would know exactly what I asked.

No, I mean where are you getting your claim about free market types?

 

[Lesh]

Under Trump gasoline was $1.96....didn't see any anti-oil folks cheering starving big oil of profits.

Thread fail.

That was pandemic price. You want National shut downs again?

 

[bripat9643]

So why are you 'free market' types claiming the U.S. has to raise prices according to what Brent crude sells for to non-producing countries in Asia or Poland, then? It's ridiculous 'logic'.

We pay the market price, nimrod, just like everyone else

 

[Toddsterpatriot]

lol says the loser who never responds to what posters say and snivels when he gets ignored.

Run away!

 

[BlindBoo]

You don't call his war against oil companies by cutting off a pipeline from Canada a "policy?" He made a big mistake by hurting a neighbor whose citizens put out a lot of their money building a pipeline to America, not to mention the investors in this country he likewise screwed. Laws of mercy, Biden hates the American people and our allies, the Canadians too.

Production was cut world wide before President Biden took office. The price increases is a result of the world getting back to work and OPEC and the oil producing nations not keeping up with the rising demand for several reasons. The least of which is a cancelled leg of the Keystone pipeline system. The failure is on Trump for not being able to negotiate legislation with Congress, and used an EO that could be reversed just as easily.

 

[bripat9643]

That was pandemic price. You want National shut downs again?

The price before COVID ranged from $2.09 to $2.88. That's less than half of what we're paying now.

 

[bripat9643]

Production was cut world wide before President Biden took office. The price increases is a result of the world getting back to work and OPEC and the oil producing nations not keeping up with the rising demand for several reasons. The least of which is a cancelled leg of the Keystone pipeline system. The failure is on Trump for not being able to negotiate legislation with Congress, and used an EO that could be reversed just as easily.

The fact that Biden is deliberately choking the supply of oil is undeniable. He recently announced that there would be a 50% increase in the price of drilling permits. That is inexcusable in the current oil market.

 

[Tom Paine 1949]

This is what pure ignorance looks like.

No. I can see why Republicans and Trump supporters don’t like it. But another way to look at the OP is as a clever but grim satire. It’s certainly on the mark about oil company profits ...

 

[bripat9643]

Production was cut world wide before President Biden took office. The price increases is a result of the world getting back to work and OPEC and the oil producing nations not keeping up with the rising demand for several reasons. The least of which is a cancelled leg of the Keystone pipeline system. The failure is on Trump for not being able to negotiate legislation with Congress, and used an EO that could be reversed just as easily.

It's the result of that plus the fact that Biden has been deliberately choking off the supply of oil.

 

[BlindBoo]

Yes, due to the Balkan oil field discovery, on private land, over which President Obama had no control over fracking.

Much like the new discoveries in the Permian Basin in Texas that increased production to near 13 mbd and gave us the fabled 'Energy Independence" status was on private lands as well and had nothing to do with the fire sale of leases the Trump team engaged in. The drilling permits the BLM have approved under Biden do not limit fracking either.

 

[BlindBoo]

It's the result of that plus the fact that Biden has been deliberately choking off the supply of oil.

By asking producer to produce more?

 

[bripat9643]

Much like the new discoveries in the Permian Basin in Texas that increased production to near 13 mbd and gave us the fabled 'Energy Independence" status was on private lands as well and had nothing to do with the fire sale of leases the Trump team engaged in. The drilling permits the BLM have approved under Biden do not limit fracking either.

What "firesale" of leases?

 

[bripat9643]

By asking producer to produce more?

Corporations don't respond to pleading by politicians.