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

[Moonglow]

Bro, oil company execs who make million $$$ bonuses aren't going to take orders from someone who makes $500K per year. Even if he is the president.

The only thing Biden has done to the oil companies is things that have nothing to do with existing oil production. He didn't/couldn't force Exxon or the rest of them to stop production, to cap wells, to stop the flow of oil through any pipelines. Things that were already producing oil, are still doing it.

The slow down comes because of things Biden did to slow NEW leases. Many places where the oil companies don't even know if their oil yet. Locations that do not even have a well drilled yet.

Couple that with the historic boom and bust cycle the oil industry goes through. During the boom cycle, thousands of new hands are hired. Drillers, deck hands, surveyors, geologist etc etc.. They uncap wells and produce. They drill new wells and produce. They dump a bunch of money into production.
The the bust comes and they lay off all those hands.
But while this is a bust for the hands, it's also a boom for the exec's. Because they can close the spigot, and raise the price, and make more money. More money without all the overhead they just laid off.

These idiots think the US is a communist nation or a socialist nation.

 

[Mac-7]

And the roads those automobiles drove on?

Where did they come from?

Private industry?

Nope

Meaning what in plain English?

because government built the road some some pointy-headed bureaucrat can tell us what car we have to buy?

we the people pay his salary

 

[AzogtheDefiler]

That SHOULD settle this endless nonsense

But it won't.

Trumpers are gonna gnaw on this like a dog with a bone...because they got nothing else

—- Border Crisis
—- Rising Crime Rate
—- Massive Inflation
—- Afghanistan (13 dead soldiers) - $86bl of weapons left behind
—- Lack of energy independence
—- Buying Russian oil to fund the war in Ukraine

37% approval rate

VA went red for a reason.

Truth over Facts

You’re a midget

 

[Flash]

Maybe we can end this stupid discussion about how it was Biden's fault that gas prices are souring. (Finally)

Sure, Biden pissed off the oil companies when he first too office. He pulled the plug on an uncompleted pipeline. He pulled new leases. He even pulled the permits on some wells. But what he didn't do was stop the flow of existing wells and pipelines already in production. Production and new well drilling was slowed due to, at least in part to Covid and oil field employee's not being able to come to work because they had covid, or had been around someone who had tested positive.
But, the biggest reason, at least for the last 4 or 5 months, has been the oil companies themselves keeping their production low, and waiting patiently for the trading price to increase. They are smart people. They know how to manipulate the oil markets. Especially with an anti oil president and a war looming.
And their excuses worked like a charm. The cut their overhead, earned billions in extra profit. The millions in bonuses were paid. And now, they can get back to the business of producing oil. Their vacation is just about over.

P.S. Not the bold print in the article. They, themselves are ramping up oil production. And Biden hasn't done anything. He hasn't reinstated all those permits. He hasn't opened up the oil leases. He hasn't reversed anything the oil companies have been complaining about that's caused them to produce less oil. The oil companies made the same decision they could've made months ago.

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

HOUSTON — Executives at some of the world’s biggest oil and gas producers said on Monday they are ramping up their crude production as U.S. gasoline prices surge to $4 a gallon amid expectations that President Joe Biden and Congress would ban imports of Russian petroleum — but the companies warned not to expect new supplies overnight.

Exxon Mobil and Chevron are both boosting oil production at the mammoth Permian Basin field in West Texas and New Mexico, strategies that both oil majors laid out last year but that have taken on new urgency because of the surge in oil prices to their highest level in 14 years.

Bullshit!

Funny but the oil companies didn't keep production low when Trump was President.

Two facts the Moon Bats can't run away from:

1. When Trump with an American Energy Independence agenda gas at the pump was less than half of what it is now. The price increased when that idiot Biden stole the election and has his "no more fossil fuel to save the earth" agenda.

2. Under Trump we were a NET exporter of oil in 2019 and 2020 due to his policies. That means we produced more oil than we used. Under Potatohead we are begging the Saudis, Venezuelans and Iranians to give us oil in other to save the Democrats from a disaster in the midterms.

Not only is this Biden idiot causing tremendous inflation, high prices for energy but also we are facing a significant economic recession. It is coming.

Anybody that voted for Biden and then ignored the fact he stole the election is an idiot.

 

[AzogtheDefiler]

Bullshit!

Funny but the oil companies didn't keep production low when Trump was President.

Two facts the Moon Bats can't run away from:

1. When Trump with an American Energy Independence agenda gas at the pump was less than half of what it is now. The price increased when that idiot Biden stole the election and has his "no more fossil fuel to save the earth" agenda.

2. Under Trump we were a NET exporter of oil in 2019 and 2020 due to his policies. Under Potatohead we are begging the Saudis, Venezuelans and Iranians to give us oil in other to save the Democrats from a disaster in the midterms.

Not only is this Biden idiot causing tremendous inflation, high prices for energy but also we are facing a significant economic recession. It is coming.

Anybody that voted for Biden and then ignored the fact he stole the election is an idiot.

“Potatohead” LOL

Truth over Facts

 

[imawhosure]

Bullshit!

Funny but the oil companies didn't keep production low when Trump was President.

Two facts the Moon Bats can't run away from:

1. When Trump with an American Energy Independence agenda gas at the pump was less than half of what it is now. The price increased when that idiot Biden stole the election and has his "no more fossil fuel to save the earth" agenda.

2. Under Trump we were a NET exporter of oil in 2019 and 2020 due to his policies. That means we produced more oil than we used. Under Potatohead we are begging the Saudis, Venezuelans and Iranians to give us oil in other to save the Democrats from a disaster in the midterms.

Not only is this Biden idiot causing tremendous inflation, high prices for energy but also we are facing a significant economic recession. It is coming.

Anybody that voted for Biden and then ignored the fact he stole the election is an idiot.

Leftists are deflecting in an attempt to save their butts in November, and pass blame elsewhere. But they have a problem! What is that problem? Joe Biden, the internet, and YouTube, lol. All you need do is go back and see what every Leftist said, including Joe Biden, when running for President in the primary, and then Joe himself when he ran against Trump.

Here is just a short 15 second clip of Joe, and these type are everywhere on the internet, including Mayor Pete and the rest! When a man/men/women tell you their agenda, it comes to pass, and their supporters claim it really wasn't them who did it, you have to scratch your head in disbelief!

And then, you have to ask yourself if you are a logical person------------->Even IF it wasn't their doing, (and that is a big IF) what are the odds if it happened without their input to help cause it, that they would try and repair it to go back to where they did NOT want to be in the 1st place, because their intention all along was to get to where we are currently?!?!?!?!

Conservatives, reread that last paragraph please!

 

[Lesh]

What someone said means nothing

What matters is what is actually happening

And oil companies are admitting that they have NOT been producing to capacity… by their own choice

 

[Aldo Raine]

The summer is peak oil demand.
The EU can help lower demand.
Germany can re-start the two big nuke plants Merkle shut down.
Biden needs to make some moves to get more US oil into the market before the truckers go on strike to protest the price of diesel.

Restarting powerhouses of any kind is a long painstaking process. It could and probably would take years. Most likely the reactors are shot and even removed.
MAGA

 

[RoshawnMarkwees]

That's an irrelevant fact.

I'm not saying the oil companies don't have the right to stick it down our throats from time to time. It's business. Get what you can, when you can.

I just don't like the fact that there's no other affordable options. Truckers can't just go hitch up a team of mules to haul all that crap. I'm not going to ride a horse to town for groceries. My ice cream would melt before I got it home.

We're not the ones that pissed them off. Biden did. Take it out on him. Make him pay. Not us.

It’s not about the oil companies. It’s the democrats stifling supply and driving up costs. Period.
You’re parroting pelosi, et al, just like when she paraded oil execs in front of congress asking them why their ‘profit margins’ were so high while gas prices increased. They had to explain what ‘profit margins’ are to the idiot congress.

 

[kyzr]

Oil workers were out with covid. Truckers out with covid. Demand fell through the floor. They cut back on production and haven't fully ramped back up yet.
Stop saying stupid shit

The oil wells should have ramped upi by now.
Something else is going on.
Probably more Environmental Impact studies and other "red tape" to keep the oil in the ground.
Biden's "war on energy" is the energy problem.

 

[kyzr]

Restarting powerhouses of any kind is a long painstaking process.
It could and probably would take years. Most likely the reactors are shot and even removed.
MAGA

Stop lying. Nuclear power is essential to keep Putin in-check. Otherwise Putin has Germany by the balls.
Keeping all six nuke powerplants running is easy and essential.

Nuclear power in Germany - Wikipedia

en.wikipedia.org

 

[Aldo Raine]

Stop lying. Nuclear power is essential to keep Putin in-check. Otherwise Putin has Germany by the balls.
Keeping all six nuke powerplants running is easy and essential.

Nuclear power in Germany - Wikipedia

en.wikipedia.org

Do you have reading comprehension problems. If they were already mothballed it isn't as simple as turning on a switch to get them back up and running. Don't be a dick, oh never mind!!!!
MAGA

 

[Lesh]

The oil wells should have ramped upi by now.

They're only beginning to do so now

Something else is going on.

Yea...profit taking

 

[Aldo Raine]

They're only beginning to do so now

Yea...profit taking

Suddenly they are so against Capitalism!!
MAGA

 

[bendog]

1. Biden can start US drilling, but he won't approve any permits, the dumb SOB would rather beg OPEC+ to pump more. What a moron.

2. The war has nothing to do with US production, we are nowhere near where we were in 2019. Fuck the ransom, drill more and pump more US oil.

3. WTF does the war have to do with renewables? Hint: nothing. Renewables are not reliable. There was a potential gas line from Israel, but dumbo stopped it. What a POS. BIDEN IS OWNED BY PUTIN.

Biden Administration Kills Israel-to-Europe Gas Pipeline

Biden's decision — reportedly coordinated with Turkey but reached without consulting Israel, Greece or Cyprus, the main countries involved in the project — undercuts three of the strongest American allies in the Mediterranean region. EastMed's

www.gatestoneinstitute.org

4. Nuclear looks more reasonable than buying gas from Putin to fund his military.

In America, the govt cannot just tell oil producers to drill more. But it does appear they are going to "sink" more wells. But that takes .... a year? even if they are producing. And from what I've read, there are not as many drilled but shut down oil wells in the Bakkan as in the past.

I hope Putin can be convinced to accept a "victory" of Ukraine as not militarized but with some enforceable promise by Putin to stop invading, and some settlement on Crimea and a partioning or something in Donbass with Russia not actually gaining "new" territory.

 

[kyzr]

Do you have reading comprehension problems. If they were already mothballed it isn't as simple as turning on a switch to get them back up and running. Don't be a dick, oh never mind!!!!
MAGA

If they were...you have no clue. Would you bet on Putin's gas or nuclear power?

Germany shuts down half of its 6 remaining nuclear plants

Germany has shut down half of the six nuclear plants it still has in operation

abcnews.go.com

 

[kyzr]

Restarting powerhouses of any kind is a long painstaking process. It could and probably would take years. Most likely the reactors are shot and even removed.
MAGA

Nope. Three are still running. The other three were shut down 2-months ago.
Know the status of Nord Stream 2?????? Which horse you betting on now?

Germany shuts down half of its 6 remaining nuclear plants

Germany has shut down half of the six nuclear plants it still has in operation

abcnews.go.com

 

[YoursTruly]

It's Bidens fault and no amount of you lying scum saying otherwise will change that fact.

Believe what you want, bro. But I was in the business during both boom and busts. We hauled either salt water or oil from production tanks. I seen the shit with my own eyes.

When an oil company contracts someone who owns the mineral rights to their land & oil, they have to allow us to pump a certain amount per month or week from the production tank. It's in the contract. When the oil prices are on the rise, we ONLY pumped what was contracted. Even if the production tank was almost full, they'd install a new production tank.

Why? Because if oil is going from $100 per barrel to $120 per barrel, the land owner and the oil companies would rather save all the oil they could because they make more profit in the end.

Here's some math to prove what I say.

The criteria: A small 500 barrel production tank. Oil is $50 per barrel. Land owner is contracted to allow 160 barrels per month. 160 barrels is a standard truck load. 160 barrels normally keeps the weight of the trucks at legal permitted road weight from the lease road, to either the disposal site (for salt water), the refinery. Or the storage tanks that feed the pipelines.
Month one:160 barrels @ $50 per barrel X 10%<<land owners profit = $800. The land owner needs more than this to live on or to continue his investments or what ever. So he pumps 160 barrels per week. The oil companies also need to pump more to continue their profit margins for the company and it's investors.
(Keep in mind, this is just from one production tank. Most land owners usually have several)

The oil bust starts. They know the price is going to $100 per barrel within a month and $150 within 2 months. So they slow production, to ONLY what's contracted.

Month 2. 160 barrels @ $100 per barrel. This equals to $1,600 per truck load, going to the land owner.
Month 3. 160 barrels @ $150 per barrel. This equates to $2400 per truck load.

So if why in the world would the land owner and the oil companies pump a lot of oil @ $100 per barrel, if they know he oil prices are going to go up? They don't. They only pump what's contracted, saving as much oil as possible for when the oil prices are going to peak.
Because they like us? Because they don't want to see us having to pay more? BS, we're just their customers. We're not their friends. This is business, bub. Oil companies and land owners are in it for the money.

 

[Aldo Raine]

If they were...you have no clue. Would you bet on Putin's gas or nuclear power?

Germany shuts down half of its 6 remaining nuclear plants

Germany has shut down half of the six nuclear plants it still has in operation

abcnews.go.com

If they were shutdown it will take a lot of time and money to get them up and running again. Are you really this fucking stupid?
MAGA

 

[Aldo Raine]

Nope. Three are still running. The other three were shut down 2-months ago.
Know the status of Nord Stream 2?????? Which horse you betting on now?

Germany shuts down half of its 6 remaining nuclear plants

Germany has shut down half of the six nuclear plants it still has in operation

abcnews.go.com

Betting it will cost a good bit of time and money to get those reactors fired up again. You don't just flip a switch.
MAGA