What is the efficacy of "drill, baby, drill".................

berg80

berg80

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Trump administration finalizes plan to open pristine Alaska wildlife refuge to oil and gas drilling​

JUNEAU, Alaska — The Trump administration on Thursday finalized plans to open the coastal plain of Alaska's Arctic National Wildlife Refuge to potential oil and gas drilling, renewing a long-simmering debate over whether to drill in one of the nation's environmental jewels.

U.S. Interior Secretary Doug Burgum announced the decision Thursday that paves the way for future lease sales within the refuge's 1.5 million-acre ( 631,309 hectare) coastal plain, an area that's considered sacred by the Indigenous Gwich'in. The plan fulfills pledges made by President Donald Trump and congressional Republicans to reopen this portion of the refuge to possible development. Trump's bill of tax breaks and spending cuts, passed during the summer, called for at least four lease sales within the refuge over a 10-year period.

1764077065415.webp


.................when supply is already exceeding demand?

Oil Could Fall to the $30s—Unless Someone Turns Off the Taps​

Oil companies are pumping out crude at a record rate, and demand can’t keep up. That dynamic could continue through 2027, according to JP Morgan strategist Natasha Kaneva. And if it does, oil prices could fall into the $30s per barrel by the end of 2027, about half of what they are worth today. Below $40, few U.S. projects would be profitable.

U.S. Oil Companies Are ‘Battening Down the Hatches’​

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

There is a very basic economic principle at play here. When demand decreases, or supply exceeds demand, suppliers cut back on production to stabilize the price of what they are producing. So why open the pristine arctic refuge for drilling when oil producers are cutting back production on existing oil fields?
 
The oil industry is constantly battling with the conundrum of increasing production to lower market prices. It applies both to "drilling" and refinement. We The People can take comfort in two facts: First, it is now known that we will "never" run out of petroleum products. The proven reserves will last long past the death of every person living now on earth. Second, the swinging pendulum of the market remains a pleasant reminder of how market forces work. Those who claim that the oil companies are dangerously powerful have nothing to say when gas-pump prices drop, proving that the oil companies DO NOT control market prices directly.

The perennial ANWR debate highlights - for those who are paying attention with a little perspective - how vacuous the watermelon-left* is on the subject. The amount of pristine land that would be defiled by petroleum drilling and transporting infrastructure is so tiny that it would take you years to even find it in Alaska with your DJI drone.


____________________
* Green on the outside; red on the inside.
 
DGS49 said:
The oil industry is constantly battling with the conundrum of increasing production to lower market prices. It applies both to "drilling" and refinement. We The People can take comfort in two facts: First, it is now known that we will "never" run out of petroleum products. The proven reserves will last long past the death of every person living now on earth. Second, the swinging pendulum of the market remains a pleasant reminder of how market forces work. Those who claim that the oil companies are dangerously powerful have nothing to say when gas-pump prices drop, proving that the oil companies DO NOT control market prices directly.

The perennial ANWR debate highlights - for those who are paying attention with a little perspective - how vacuous the watermelon-left* is on the subject. The amount of pristine land that would be defiled by petroleum drilling and transporting infrastructure is so tiny that it would take you years to even find it in Alaska with your DJI drone.


____________________
* Green on the outside; red on the inside.
Click to expand...
Oil makes a profit at 30.00 a barrel.
 
berg80 said:

Trump administration finalizes plan to open pristine Alaska wildlife refuge to oil and gas drilling​

JUNEAU, Alaska — The Trump administration on Thursday finalized plans to open the coastal plain of Alaska's Arctic National Wildlife Refuge to potential oil and gas drilling, renewing a long-simmering debate over whether to drill in one of the nation's environmental jewels.

U.S. Interior Secretary Doug Burgum announced the decision Thursday that paves the way for future lease sales within the refuge's 1.5 million-acre ( 631,309 hectare) coastal plain, an area that's considered sacred by the Indigenous Gwich'in. The plan fulfills pledges made by President Donald Trump and congressional Republicans to reopen this portion of the refuge to possible development. Trump's bill of tax breaks and spending cuts, passed during the summer, called for at least four lease sales within the refuge over a 10-year period.

View attachment 1187513

.................when supply is already exceeding demand?

Oil Could Fall to the $30s—Unless Someone Turns Off the Taps​

Oil companies are pumping out crude at a record rate, and demand can’t keep up. That dynamic could continue through 2027, according to JP Morgan strategist Natasha Kaneva. And if it does, oil prices could fall into the $30s per barrel by the end of 2027, about half of what they are worth today. Below $40, few U.S. projects would be profitable.

U.S. Oil Companies Are ‘Battening Down the Hatches’​

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

There is a very basic economic principle at play here. When demand decreases, or supply exceeds demand, suppliers cut back on production to stabilize the price of what they are producing. So why open the pristine arctic refuge for drilling when oil producers are cutting back production on existing oil fields?
Click to expand...
Demand for energy is increasing tremendously as AI use increases. Manufacturing is also increasing in America so expect more demand to keep the price marketable and profitable.
 
berg80 said:

Trump administration finalizes plan to open pristine Alaska wildlife refuge to oil and gas drilling​

JUNEAU, Alaska — The Trump administration on Thursday finalized plans to open the coastal plain of Alaska's Arctic National Wildlife Refuge to potential oil and gas drilling, renewing a long-simmering debate over whether to drill in one of the nation's environmental jewels.

U.S. Interior Secretary Doug Burgum announced the decision Thursday that paves the way for future lease sales within the refuge's 1.5 million-acre ( 631,309 hectare) coastal plain, an area that's considered sacred by the Indigenous Gwich'in. The plan fulfills pledges made by President Donald Trump and congressional Republicans to reopen this portion of the refuge to possible development. Trump's bill of tax breaks and spending cuts, passed during the summer, called for at least four lease sales within the refuge over a 10-year period.

View attachment 1187513

.................when supply is already exceeding demand?

Oil Could Fall to the $30s—Unless Someone Turns Off the Taps​

Oil companies are pumping out crude at a record rate, and demand can’t keep up. That dynamic could continue through 2027, according to JP Morgan strategist Natasha Kaneva. And if it does, oil prices could fall into the $30s per barrel by the end of 2027, about half of what they are worth today. Below $40, few U.S. projects would be profitable.

U.S. Oil Companies Are ‘Battening Down the Hatches’​

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

There is a very basic economic principle at play here. When demand decreases, or supply exceeds demand, suppliers cut back on production to stabilize the price of what they are producing. So why open the pristine arctic refuge for drilling when oil producers are cutting back production on existing oil fields?
Click to expand...
I Believe that America should Wisely, & Safely, Use it's Natural Resources for Americans FIRST, & after having ensured that America has what it needs to greatly improve the Lives of every "American", as well as have at least One Years Supply of those Natural Resources for Emergency use,......Then sell to other Nations what is left over.

I also Believe that the "Industrial/Fossil Fuel" complex be vastly prohibited from Economically,, & Environmentally Raping "The American People.
 
berg80 said:

Trump administration finalizes plan to open pristine Alaska wildlife refuge to oil and gas drilling​

JUNEAU, Alaska — The Trump administration on Thursday finalized plans to open the coastal plain of Alaska's Arctic National Wildlife Refuge to potential oil and gas drilling, renewing a long-simmering debate over whether to drill in one of the nation's environmental jewels.

U.S. Interior Secretary Doug Burgum announced the decision Thursday that paves the way for future lease sales within the refuge's 1.5 million-acre ( 631,309 hectare) coastal plain, an area that's considered sacred by the Indigenous Gwich'in. The plan fulfills pledges made by President Donald Trump and congressional Republicans to reopen this portion of the refuge to possible development. Trump's bill of tax breaks and spending cuts, passed during the summer, called for at least four lease sales within the refuge over a 10-year period.

View attachment 1187513

.................when supply is already exceeding demand?

Oil Could Fall to the $30s—Unless Someone Turns Off the Taps​

Oil companies are pumping out crude at a record rate, and demand can’t keep up. That dynamic could continue through 2027, according to JP Morgan strategist Natasha Kaneva. And if it does, oil prices could fall into the $30s per barrel by the end of 2027, about half of what they are worth today. Below $40, few U.S. projects would be profitable.

U.S. Oil Companies Are ‘Battening Down the Hatches’​

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

There is a very basic economic principle at play here. When demand decreases, or supply exceeds demand, suppliers cut back on production to stabilize the price of what they are producing. So why open the pristine arctic refuge for drilling when oil producers are cutting back production on existing oil fields?
Click to expand...
No one in the industry gives a shit. Oil is $58 a barrel. There is no profitable development outside the Anadarko and Dakotas that is profitable. Offshore, Alaska , whatever. Unless oil is $90 a barrel its not even worth a yawn.
 
DGS49 said:
Second, the swinging pendulum of the market remains a pleasant reminder of how market forces work. Those who claim that the oil companies are dangerously powerful have nothing to say when gas-pump prices drop, proving that the oil companies DO NOT control market prices directly.
Click to expand...
They are powerful. $34B in annual subsidies and trump's solicitation of them as campaign donors say they are. But they don't control market forces.........and neither does Dotard. Which is why it was monumentally ignorant for people to have blamed Biden for the post Ukraine invasion spike in oil prices and equally ignorant to give trump credit for lower prices at the pump.
 
Zincwarrior said:
No one in the industry gives a shit. Oil is $58 a barrel. There is no profitable development outside the Anadarko and Dakotas that is profitable. Offshore, Alaska , whatever. Unless oil is $90 a barrel its not even worth a yawn.
Click to expand...
30.00 a barrel still creates profit. Increased demand will keep oil profitable and affordable. If democrats retake control it will all go to hell
 
berg80 said:
They are powerful. $34B in annual subsidies and trump's solicitation of them as campaign donors say they are. But they don't control market forces.........and neither does Dotard. Which is why it was monumentally ignorant for people to have blamed Biden for the post Ukraine invasion spike in oil prices and equally ignorant to give trump credit for lower prices at the pump.
Click to expand...
Biden suppressed oil production keeping it below demand to drive up the cost. The goal was to force is to all buy EV cars. How did that work out. We got 9% inflation, Iran and Russia could fund their wars, the cost of everything went up, and Biden looked like the senile fool he was. Impaired incompetent and destructive.
 
Oil prices eased Tuesday as concerns supply will exceed demand next year outweighed worries that Russian shipments will remain under sanctions as talks to end the Ukraine war remain inconclusive.

Brent futures fell 26 cents, or 0.4%, to $63.11 a barrel. West Texas Intermediate (WTI) crude declined 24 cents, or 0.4%, to $58.60.

Both crude benchmarks gained 1.3% on Monday as rising doubts about a peace deal to end the Russia-Ukraine war reduced expectations for the unfettered flow of Russian crude and fuel supplies, which are under sanctions from Western nations.

Even as market participants worry about Russian shipments, the overall outlook for crude oil supply and demand balances in 2026 is looser amid numerous forecasts supply growth will exceed demand increases next year.

“In the short-term, the key risk is oversupply and current price levels seem vulnerable,” Priyanka Sachdeva, senior market analyst at Phillip Nova, said in a note on Tuesday.

Oil company exec's are acutely aware they must cut back on production or risk lowering profits on the oil they extract from the planet.
 
berg80 said:

Trump administration finalizes plan to open pristine Alaska wildlife refuge to oil and gas drilling​

JUNEAU, Alaska — The Trump administration on Thursday finalized plans to open the coastal plain of Alaska's Arctic National Wildlife Refuge to potential oil and gas drilling, renewing a long-simmering debate over whether to drill in one of the nation's environmental jewels.

U.S. Interior Secretary Doug Burgum announced the decision Thursday that paves the way for future lease sales within the refuge's 1.5 million-acre ( 631,309 hectare) coastal plain, an area that's considered sacred by the Indigenous Gwich'in. The plan fulfills pledges made by President Donald Trump and congressional Republicans to reopen this portion of the refuge to possible development. Trump's bill of tax breaks and spending cuts, passed during the summer, called for at least four lease sales within the refuge over a 10-year period.

View attachment 1187513

.................when supply is already exceeding demand?

Oil Could Fall to the $30s—Unless Someone Turns Off the Taps​

Oil companies are pumping out crude at a record rate, and demand can’t keep up. That dynamic could continue through 2027, according to JP Morgan strategist Natasha Kaneva. And if it does, oil prices could fall into the $30s per barrel by the end of 2027, about half of what they are worth today. Below $40, few U.S. projects would be profitable.

U.S. Oil Companies Are ‘Battening Down the Hatches’​

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

There is a very basic economic principle at play here. When demand decreases, or supply exceeds demand, suppliers cut back on production to stabilize the price of what they are producing. So why open the pristine arctic refuge for drilling when oil producers are cutting back production on existing oil fields?
Click to expand...
What is the purpose of including the adjective "pristine" in the headline? Oh yeah, it's obvious.
 
Oil companies aren't out to lower profits. Lower oil cost isn't any incentive for more drilling. It's simple economics.

As seen here, there are less oil rigs drilling now than when Trump took office in January.

There has been an increase in drilling for natural gas. As trade news source Rigzone states:

The U.S. has dropped 60 oil rigs and added 28 gas rigs and three miscellaneous rigs, while Canada has dropped five oil rigs and one miscellaneous rig, year on year, the count outlined.
 
berg80 said:

Trump administration finalizes plan to open pristine Alaska wildlife refuge to oil and gas drilling​

JUNEAU, Alaska — The Trump administration on Thursday finalized plans to open the coastal plain of Alaska's Arctic National Wildlife Refuge to potential oil and gas drilling, renewing a long-simmering debate over whether to drill in one of the nation's environmental jewels.

U.S. Interior Secretary Doug Burgum announced the decision Thursday that paves the way for future lease sales within the refuge's 1.5 million-acre ( 631,309 hectare) coastal plain, an area that's considered sacred by the Indigenous Gwich'in. The plan fulfills pledges made by President Donald Trump and congressional Republicans to reopen this portion of the refuge to possible development. Trump's bill of tax breaks and spending cuts, passed during the summer, called for at least four lease sales within the refuge over a 10-year period.

View attachment 1187513

.................when supply is already exceeding demand?

Oil Could Fall to the $30s—Unless Someone Turns Off the Taps​

Oil companies are pumping out crude at a record rate, and demand can’t keep up. That dynamic could continue through 2027, according to JP Morgan strategist Natasha Kaneva. And if it does, oil prices could fall into the $30s per barrel by the end of 2027, about half of what they are worth today. Below $40, few U.S. projects would be profitable.

U.S. Oil Companies Are ‘Battening Down the Hatches’​

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

There is a very basic economic principle at play here. When demand decreases, or supply exceeds demand, suppliers cut back on production to stabilize the price of what they are producing. So why open the pristine arctic refuge for drilling when oil producers are cutting back production on existing oil fields?
Click to expand...
.

$2.54 yesterday when I filled up.







.
 
Hafar1014 said:
30.00 a barrel still creates profit. Increased demand will keep oil profitable and affordable. If democrats retake control it will all go to hell
Click to expand...
No it literally doesn't. I don't think even the UAE and SA have lifting costs low enough to make a profit at that price.
Frakking regions need about $45 a barrel.
Offshore need about $65-$70.
Deep Sea Offshore need about $90.
 
berg80 said:

Trump administration finalizes plan to open pristine Alaska wildlife refuge to oil and gas drilling​

JUNEAU, Alaska — The Trump administration on Thursday finalized plans to open the coastal plain of Alaska's Arctic National Wildlife Refuge to potential oil and gas drilling, renewing a long-simmering debate over whether to drill in one of the nation's environmental jewels.

U.S. Interior Secretary Doug Burgum announced the decision Thursday that paves the way for future lease sales within the refuge's 1.5 million-acre ( 631,309 hectare) coastal plain, an area that's considered sacred by the Indigenous Gwich'in. The plan fulfills pledges made by President Donald Trump and congressional Republicans to reopen this portion of the refuge to possible development. Trump's bill of tax breaks and spending cuts, passed during the summer, called for at least four lease sales within the refuge over a 10-year period.
.................when supply is already exceeding demand?

Oil Could Fall to the $30s—Unless Someone Turns Off the Taps​

Oil companies are pumping out crude at a record rate, and demand can’t keep up. That dynamic could continue through 2027, according to JP Morgan strategist Natasha Kaneva. And if it does, oil prices could fall into the $30s per barrel by the end of 2027, about half of what they are worth today. Below $40, few U.S. projects would be profitable.

U.S. Oil Companies Are ‘Battening Down the Hatches’​

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

There is a very basic economic principle at play here. When demand decreases, or supply exceeds demand, suppliers cut back on production to stabilize the price of what they are producing. So why open the pristine arctic refuge for drilling when oil producers are cutting back production on existing oil fields?
Click to expand...
1. It takes years to develop new oil and gas fields including building pipelines.
2. Existing fields are old and production is expected to drop.
3. Developing ANWR means billions of Federal and state revenue.
4. US allies need the oil production and are partnering to develop ANWR.
5. $30 oil hurts Russia, a very good thing.

 
15th post
Zincwarrior said:
No it literally doesn't. I don't think even the UAE and SA have lifting costs low enough to make a profit at that price.
Frakking regions need about $45 a barrel.
Offshore need about $65-$70.
Deep Sea Offshore need about $90.
Click to expand...
30.00 in America
 
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