US Energy Production Hits All-Time High

[initforme]

Any oil drilled in the lower 48 is american oil. So nobody can justify why the more we drill the more that gets shipped away.

 

[kyzr]

Looks like Biden didn't hurt oil production, but if Trump increases production even more the exports go up, and theprice of oil goes down, a better outcome than under Biden.

Oil imports and exports - U.S. Energy Information Administration (EIA)

U.S. crude oil imports sources including OPEC and Persian Gulf, and top five source countries of U.S. oil imports and destinations of U.S. crude oil exports.

www.eia.gov

 

[Harpy Eagle]

but if Trump increases production even more the exports go up, and theprice of oil goes down, a better outcome than under Biden.

That is a big IF.

Why would the oil companies pump even more just to cut into their profit margin?

What is in it for them?

 

[surada]

Any oil drilled in the lower 48 is american oil. So nobody can justify why the more we drill the more that gets shipped away.

The oil doesn't belong to you. We have private property rights in the US.

 

[surada]

Looks like Biden didn't hurt oil production, but if Trump increases production even more the exports go up, and theprice of oil goes down, a better outcome than under Biden.

Oil imports and exports - U.S. Energy Information Administration (EIA)

U.S. crude oil imports sources including OPEC and Persian Gulf, and top five source countries of U.S. oil imports and destinations of U.S. crude oil exports.

www.eia.gov

View attachment 997567

Trump didn't increase production. That's absurd. If the ppb drops exploration and drilling stops . US oil is doing a good job...and they are more stable than ever. No more boom and bust.

 

[ding]

Looks like Biden didn't hurt oil production, but if Trump increases production even more the exports go up, and theprice of oil goes down, a better outcome than under Biden.

Oil imports and exports - U.S. Energy Information Administration (EIA)

U.S. crude oil imports sources including OPEC and Persian Gulf, and top five source countries of U.S. oil imports and destinations of U.S. crude oil exports.

www.eia.gov

View attachment 997567

Doesn't the left need to pick a lane? Can more oil production be good and less oil production be good? Which is it? What's the goal? More or less?

 

[ding]

Trump didn't increase production. That's absurd. If the ppb drops exploration and drilling stops . US oil is doing a good job...and they are more stable than ever. No more boom and bust.

There's always boom or bust in the oil business. Don't kid yourself.

 

[Winco]

Until the election, then back to banning oil. Same old playbook by the left.

Do you remember OPEC+ ?
Or are you going to play ignorant again?
Who signed OPEC+ and what were the effects?

 

[surada]

Doesn't the left need to pick a lane? Can more oil production be good and less oil production be good? Which is it? What's the goal? More or less?

The answer is it depends.

OPEC daily basket price stood at $79.93 a barrel Thursday, 15 August 2024

 

[surada]

Any oil drilled in the lower 48 is american oil. So nobody can justify why the more we drill the more that gets shipped away.

We are not a Communist country

 

[surada]

There's always boom or bust in the oil business. Don't kid yourself.

In the US that's true, but since COVID-19 they are going for stability.

OPEC daily basket price stood at $79.93 a barrel Thursday, 15 August 2024

 

[surada]

The answer is it depends.

OPEC daily basket price stood at $79.93 a barrel Thursday, 15 August 2024

 

[Plagerist]

We are not a Communist country

Despite people like you, dude.

 

[surada]

Despite people like you, dude.

I'm not a dude. Why do you think you have any ownership of US oil reserves?

 

[kyzr]

That is a big IF.
Why would the oil companies pump even more just to cut into their profit margin?
What is in it for them?

A smaller margin is offset by a larger volume. From the graph in post-102 the IMPORTS don't make sense to me.

If production equals consumption, and there are exports, why import 8m bbls????

Biden sold down the SPR to China? That's the only unbalanced sale I'm aware of.

 

[Harpy Eagle]

A smaller margin is offset by a larger volume. From the graph in post-102 the IMPORTS don't make sense to me.

If production equals consumption, and there are exports, why import 8m bbls????

Biden sold down the SPR to China? That's the only unbalanced sale I'm aware of.

There are exports because oil is global commodity and the oil companies sell it all over the world

There are always going to be imports because not all oil is the same.

 

[ding]

The answer is it depends.

OPEC daily basket price stood at $79.93 a barrel Thursday, 15 August 2024

What does it depend on?

 

[Plagerist]

I'm not a dude. Why do you think you have any ownership of US oil reserves?

Right. Dude!

 

[Rambunctious]

 

[surada]

What does it depend on?

Market demand.