U.S. oil industry prepares to boost production — but with a giant warning

[YoursTruly]

The fact that local residents do not want the pipeline built shows it should not be built. Also once oil leases are sold, they cannot take it back. If oil companies wanted to increase their production, they could re-open the 150 or so wells that were in operation pre-pandemic but have not been re-opened.

Correct you are. The rich folks up in Bismark didn't want it, and had the money to tie the oil companies up for years over this pipeline coming through. So they just decided to move it further south.
Almost every where a pipeline is projected, they face opposition. Even republicans.

 

[YoursTruly]

It is refined in countries with simpler refining processes.
We could do it, EPA would be against that.

Don't think for one minute the EPA and the oil companies are enemies. If it wasn't for the EPA, the oil and pipeline companies would have a lot more competition. And they'd be forced to price their oil/gas at competitive rates.
Not to mention, viable competition would end the boom and bust cycles for good.

EPA regs are a win win for oil companies. Because they're the only ones who can afford all the EPA regs. Plus, they get to charge us for the extra expense.

I'm not anti oil. But I do realize a few things:

1. The bust cycles are when the investors get paid, and all the big bonuses get dished out.
2. We have never been, nor will we ever actually "energy independent" as long as we're importing oil/gas.
3. We are just the oil companies customers. We're not their friends.
4. Oil companies aren't patriotic to this country. Their only loyalty is to the money to be made and the resources that allow them the billions they make in profit.
5. FACT: Exxon owns the wells. They own the refineries. They own the tankers trucks. And they own the gas stations. So there's no reason for them to use every excuse in the book to charge more during the bust cycles. Nothing changed from 2 years ago til now about the way that oil is pumped, how gas is manufactured or how it gets to the pump.
The excuse used to be supply and demand. But "we the people" finally figured out that lie. Then they started using the stock price. We're figuring out that lie now. So they're down to blaming a war and the president.
But still nothing changed about the oil from the well to the gas pump.

 

[martybegan]

Trump brags a lot but he doesn't know any more about the oil business than you do.

You didn't answer the question.

 

[martybegan]

Right, I ignored your loaded questions. If you have a point to make, make it all by your big boy self, using your big boy words.

Dodge, duck, dip, dive and dodge. It's all you have.

 

[surada]

Don't think for one minute the EPA and the oil companies are enemies. If it wasn't for the EPA, the oil and pipeline companies would have a lot more competition. And they'd be forced to price their oil/gas at competitive rates.
Not to mention, viable competition would end the boom and bust cycles for good.

EPA regs are a win win for oil companies. Because they're the only ones who can afford all the EPA regs. Plus, they get to charge us for the extra expense.

I'm not anti oil. But I do realize a few things:

1. The bust cycles are when the investors get paid, and all the big bonuses get dished out.
2. We have never been, nor will we ever actually "energy independent" as long as we're importing oil/gas.
3. We are just the oil companies customers. We're not their friends.
4. Oil companies aren't patriotic to this country. Their only loyalty is to the money to be made and the resources that allow them the billions they make in profit.
5. FACT: Exxon owns the wells. They own the refineries. They own the tankers trucks. And they own the gas stations. So there's no reason for them to use every excuse in the book to charge more during the bust cycles. Nothing changed from 2 years ago til now about the way that oil is pumped, how gas is manufactured or how it gets to the pump.
The excuse used to be supply and demand. But "we the people" finally figured out that lie. Then they started using the stock price. We're figuring out that lie now. So they're down to blaming a war and the president.
But still nothing changed about the oil from the well to the gas pump.

The largest refinery in the US is owned by Saudi Arabia.

 

[surada]

You didn't answer the question.

The answer is no.

 

[martybegan]

The answer is no.

Liar.

They want to end the fossil fuel industry as we know it, they say it, repeatedly.

If you want to ban ICE vehicles, you want to reduce fossil fuel use. If you want to destroy the coal energy industry you want to change fundamentally the fossil fuel industry.

Lies are bad enough, but this is a stupid lie.

 

[surada]

Liar.

They want to end the fossil fuel industry as we know it, they say it, repeatedly.

If you want to ban ICE vehicles, you want to reduce fossil fuel use. If you want to destroy the coal energy industry you want to change fundamentally the fossil fuel industry.

Lies are bad enough, but this is a stupid lie.

Coal mining jobs have been in decline since 1950. The US is not investing in new coal fired power plants, drama queen.

 

[martybegan]

Coal mining jobs have been in decline since 1950. The US is not investing in new coal fired power plants, drama queen.

That doesn't change the fact that you are lying about progressives not wanting to end the fossil fuel industry.

 

[Delldude]

Don't think for one minute the EPA and the oil companies are enemies. If it wasn't for the EPA, the oil and pipeline companies would have a lot more competition. And they'd be forced to price their oil/gas at competitive rates.
Not to mention, viable competition would end the boom and bust cycles for good.

EPA regs are a win win for oil companies. Because they're the only ones who can afford all the EPA regs. Plus, they get to charge us for the extra expense.

I'm not anti oil. But I do realize a few things:

1. The bust cycles are when the investors get paid, and all the big bonuses get dished out.
2. We have never been, nor will we ever actually "energy independent" as long as we're importing oil/gas.
3. We are just the oil companies customers. We're not their friends.
4. Oil companies aren't patriotic to this country. Their only loyalty is to the money to be made and the resources that allow them the billions they make in profit.
5. FACT: Exxon owns the wells. They own the refineries. They own the tankers trucks. And they own the gas stations. So there's no reason for them to use every excuse in the book to charge more during the bust cycles. Nothing changed from 2 years ago til now about the way that oil is pumped, how gas is manufactured or how it gets to the pump.
The excuse used to be supply and demand. But "we the people" finally figured out that lie. Then they started using the stock price. We're figuring out that lie now. So they're down to blaming a war and the president.
But still nothing changed about the oil from the well to the gas pump.

EPA fights them all the way on new refineries.

 

[YoursTruly]

EPA fights them all the way on new refineries.

Not really. It doesn't cost them anything extra that they can't recoup the cost from us.
Refining capacity in the US is enough to keep the gas stations supplied. So there's no real need to build another. Especially when expanding an existing refinery is much cheaper?

Seriously, there's no need in building more refineries. It's not cost effective. Especially since there's no dire need for it. If we had long lines at the fuel pumps, because of the lack of refineries, that would be one thing. But when was the last time you seen a long line at the gas stations?

 

[Delldude]

Not really. It doesn't cost them anything extra that they can't recoup the cost from us.
Refining capacity in the US is enough to keep the gas stations supplied. So there's no real need to build another. Especially when expanding an existing refinery is much cheaper?

Seriously, there's no need in building more refineries. It's not cost effective. Especially since there's no dire need for it. If we had long lines at the fuel pumps, because of the lack of refineries, that would be one thing. But when was the last time you seen a long line at the gas stations?

Refinery capacity was decreased by the end of 2020. A couple incidents at the existing refineries and bingo, price spikes...or worse.

 

[YoursTruly]

The largest refinery in the US is owned by Saudi Arabia.

Saudi Aramco. From what I just read, is a $2 trillion company.

 

[YoursTruly]

Refinery capacity was decreased by the end of 2020. A couple incidents at the existing refineries and bingo, price spikes...or worse.

Yes, because of the boom and bust cycle. They do that on purpose. As I said, the bust cycle is when the higher ups and investors get to reap the financial benefits of the boom cycle.
They lay off a lot of oil field hands, pipeliners, Xray techs and other oil field hands, reducing their overhead. The stock prices increase and they get to sit back and recoup their overhead for the last several years and make a bunch of extra money.
It's called business 101. Nothing wrong with doing that, actually. I just don't like the fact that they increase prices so much (using illegitimate excuses) that reeks havoc on our economy.
It'll last a few months to a year or so. It always does. When people start investing in solar panels, electric cars and the demand drops, they'll increase their production, prices will come back down and things will go back to normal.

How many of these boom and bust cycles have you been through? I'm only 52 and have seen several. Starting in the Bill Clinton era. The Bush era. Then Obama era. And now the Biden era. Had Trump still been in office, the bust cycle would've come as well. Oil companies don't care who the president is or his party affiliation.

It's just business.

 

[YoursTruly]

In order to counter the oil companies increases in prices, we only need to do one thing. When the prices start increasing, we reduce our consumption right away.
This is how the bust cycle stops. But we're so stupid, we have to go through all the drama before we realize this.
It's the same thing with every cycle. We gripe and complain about either the president or the stock market. We fight amongst ourselves as to who's to blame. We try to maintain our consumption as a means of saying "They're not going to beat me, by god." Then we finally decide that we can change thermostat to something a little more economical. We decide to wait til we have several items on our shopping list before we go to the store. We cut down our Sunday driving. We reduce our consumption.
The oil companies stop selling as much. Their profits drop. Then they increase production, the prices go back down and everything returns to normal.

So if we all just reduced our consumption at the beginning, we could avoid all the drama and price hikes.

 

[Delldude]

Yes, because of the boom and bust cycle. They do that on purpose. As I said, the bust cycle is when the higher ups and investors get to reap the financial benefits of the boom cycle.
They lay off a lot of oil field hands, pipeliners, Xray techs and other oil field hands, reducing their overhead. The stock prices increase and they get to sit back and recoup their overhead for the last several years and make a bunch of extra money.
It's called business 101. Nothing wrong with doing that, actually. I just don't like the fact that they increase prices so much (using illegitimate excuses) that reeks havoc on our economy.
It'll last a few months to a year or so. It always does. When people start investing in solar panels, electric cars and the demand drops, they'll increase their production, prices will come back down and things will go back to normal.

How many of these boom and bust cycles have you been through? I'm only 52 and have seen several. Starting in the Bill Clinton era. The Bush era. Then Obama era. And now the Biden era. Had Trump still been in office, the bust cycle would've come as well. Oil companies don't care who the president is or his party affiliation.

It's just business.

I sat in lines with odd and even inspection sticker dates.

Oil companies do care about who is president and the policies they want.

 

[YoursTruly]

I sat in lines with odd and even inspection sticker dates.

Oil companies do care about who is president and the policies they want.

You did that a long LONG time ago. That was back in the 20th century.
Don't play games with me bro. I've been in the oil field business. And I have the ability to deduce the obvious, using common sense and history.
It's the same boom and bust cycle, with the same public reactions every single time. In both republican and democrats administrations.

I get it. You're still stuck in "blame the president" mode. That's what you're supposed to do. The oil companies are counting on you to do it. It's the typical reaction from those who don't understand who this business works.

BTW, I noticed you ignored a lot of the points I made. Maybe some of this is sinking in. I'm not trying to argue or make an enemy. Just stating the facts of how and why boom and bust cycles work.

 

[surada]

Refinery capacity was decreased by the end of 2020. A couple incidents at the existing refineries and bingo, price spikes...or worse.

Where were these refineries?

 

[Delldude]

You did that a long LONG time ago. That was back in the 20th century.
Don't play games with me bro. I've been in the oil field business. And I have the ability to deduce the obvious, using common sense and history.
It's the same boom and bust cycle, with the same public reactions every single time. In both republican and democrats administrations.

I get it. You're still stuck in "blame the president" mode. That's what you're supposed to do. The oil companies are counting on you to do it. It's the typical reaction from those who don't understand who this business works.

BTW, I noticed you ignored a lot of the points I made. Maybe some of this is sinking in. I'm not trying to argue or make an enemy. Just stating the facts of how and why boom and bust cycles work.

Restrictive oil policies do have an impact. You should know that, then.

 

[surada]

Restrictive oil policies do have an impact. You should know that, then.

Like safety regulations on Deepwater Horizon.