Why Biden Is Letting Oil Prices Soar

[kaz]

The Chinese have 22 billion dollars invested in Canadian tarsands.

Wow, is that all? I thought it was a lot more. 22 billion? That's it? Chump change at the national level

 

[kaz]

What does "we have no economies of scale" mean? Why should our oil be any different from oil coming from other areas of the world in that regard?

Also, what do you mean by "integrated?"

You are correct that most wells produce less than 50 bbl/day, but so what? Different oil regions have different costs. At $90/bbl 50 bbl/day is $4500/day - more than worthwhile.

surada likes sounding like she knows what she's talking about while not knowing what she's talking about. She uses a lot of buzz words without much meaning to them. Her argument is more full of holes than the Ukraine military

 

[kaz]

surada

To answer your questions, Bripat, since Surada can't.

What does "we have no economies of scale" mean? Why should our oil be any different from oil coming from other areas of the world in that regard?

There are all sorts of grades of oil and land formations. In Texas they are known for light crude, which is easily processed. In the plains of Canada they have thick sand with lots of chemicals that have to be processed. In fact they ship Texas light crude up to Canada to mine the sands oil, LOL.

What the Saudi Edith Bunker (Surada) didn't know is that different processing methods have their own economies of scale. You don't get an economy at the country level, you get it as the processing level. Surada is a ding bat.

Also, what do you mean by "integrated?"

LOL, Dingbat Surada answered one question and got it wrong. Horizontal integration means growing efficiencies by growing volume, which Edith obviously got wrong, US oil companies are huge. An example of horizontal integration would be if Coke bought Pepsi, a business in the same business they are to get bigger.

Vertical integration is integration with companies up and down the line, which again US oil companies clearly have. So for example vertical integration would be if Coke bought a distributor. A company in the value chain but a different part than they are.

Surada doesn't even make sense here. She's talking about vertical and horizontal integration as if they refer to the assembly line, which isn't how those terms are used. She also was wrong that US companies aren't horizontally integrated there.

You are correct that most wells produce less than 50 bbl/day, but so what? Different oil regions have different costs. At $90/bbl 50 bbl/day is $4500/day - more than worthwhile.

This is a red herring, it has nothing to do with anything. The Saudi Edith Bunker is wrong by at least double, but she's also ignoring horizontal fracking and focusing only on vertical fracking and she's reading 1950s data. Regardless, US oil companies are obviously sophisticated enough to your point to make rational decions.

Here's what is true. Let's bypass the leftist propaganda, selective reading and self serving responses and get down to it.

It is true that if we only look at fracking, then US ... FRACKING ... companies cannot make money unless gas is in the 40s. Saudi Arabia can make money in the 20s.

The implication is we need fracking for long term energy independence. But Surada the moron took fracking and pretended that was all US production and even then we can produce most of our own energy consumption even if we didn't have that.

Her argument is just bizarre that she believes we can mix up all the grades of oil in the US and call it "economies of scale" even though they are different technologies.

Surada is a ding bat

 

[kaz]

So you were labor in the sandpits. Nobody wants Canadian tarsands.

No idea what you're talking about, stupid bitch

 

[surada]

surada

To answer your questions, Bripat, since Surada can't.

There are all sorts of grades of oil and land formations. In Texas they are known for light crude, which is easily processed. In the plains of Canada they have thick sand with lots of chemicals that have to be processed. In fact they ship Texas light crude up to Canada to mine the sands oil, LOL.

What the Saudi Edith Bunker (Surada) didn't know is that different processing methods have their own economies of scale. You don't get an economy at the country level, you get it as the processing level. Surada is a ding bat.




LOL, Dingbat Surada answered one question and got it wrong. Horizontal integration means growing efficiencies by growing volume, which Edith obviously got wrong, US oil companies are huge. An example of horizontal integration would be if Coke bought Pepsi, a business in the same business they are to get bigger.

Vertical integration is integration with companies up and down the line, which again US oil companies clearly have. So for example vertical integration would be if Coke bought a distributor. A company in the value chain but a different part than they are.

Surada doesn't even make sense here. She's talking about vertical and horizontal integration as if they refer to the assembly line, which isn't how those terms are used. She also was wrong that US companies aren't horizontally integrated there.

This is a red herring, it has nothing to do with anything. The Saudi Edith Bunker is wrong by at least double, but she's also ignoring horizontal fracking and focusing only on vertical fracking and she's reading 1950s data. Regardless, US oil companies are obviously sophisticated enough to your point to make rational decions.

Here's what is true. Let's bypass the leftist propaganda, selective reading and self serving responses and get down to it.

It is true that if we only look at fracking, then US ... FRACKING ... companies cannot make money unless gas is in the 40s. Saudi Arabia can make money in the 20s.

The implication is we need fracking for long term energy independence. But Surada the moron took fracking and pretended that was all US production and even then we can produce most of our own energy consumption even if we didn't have that.

Her argument is just bizarre that she believes we can mix up all the grades of oil in the US and call it "economies of scale" even though they are different technologies.

Surada is a ding bat

Why do you think Saudi Aramco is the largest and most efficient oil company in the world? Everybody knows about different quality oil.. from heavy sour to light sweet. Vertical and horizontal integration means something different to you.. obviously economies of scale does too. You probably can't even conceive of Saudi Aramco which is why the US has the highest lift costs in the world.

 

[surada]

No idea what you're talking about, stupid bitch

Okay. What's a sandpit?

 

[kaz]

Why do you think Saudi Aramco is the largest and most efficient oil company in the world?

Because Saudi oil is plentiful and relatively easy to mine.

Like some oil in North America, like Texas sweet crude and unlike say the sand oil fields. North America is diverse, but you don't know that since you believe economies of scale are at the country level, which is flat out stupid. There are no economies of scale say between Texas sweet crude and say shale. You are full of shit

Everybody knows about different quality oil.. from heavy sour to light sweet. Vertical and horizontal integration means something different to you.. obviously economies of scale does too. You probably can't even conceive of Saudi Aramco which is why the US has the highest lift costs in the world.

You're just babbling again, Saudi princess ...

 

[kaz]

Okay. What's a sandpit?

Well, you think it's where you played with your toy trucks before dinner.

FYI, you have done nothing but tell me what I think this whole conversation. In your typical style, you were wrong every time. Let's be honest, you weren't really trying to tell me what I actually think, you were just being a dick. I'm just going to keep telling you what you think now until you stop

 

[Woodznutz]

I wonder if Putin is cutting Joe Joe in for his usual 10%?

Joe thinks he's God (to whom the 10 percent is usually paid). He also likely read in the bible where God will punish rebellious peoples, then says to Him, "I got this."

 

[KissMy]

The US is a net exporter of Crude Oil & its Petroleum Products. More pipelines will just export more oil driving up US prices. Drilling more will just send more to China & deplete our reserves faster. Trump's money printing caused our current inflation.

 

[toobfreak]

A smart president --

Well that leaves Joe Bedpan out.

Biden's legacy, if he succeeds, will be a decrease in the standard of living for most Americans and an increase in the power and influence of OPEC and other oil-rich states...like...oh...Russia!

In other words--- as usual, progressivism always creates the exact opposite of its stated intent.

 

[Papageorgio]

The US is a net exporter of Crude Oil & its Petroleum Products. More pipelines will just export more oil driving up US prices. Drilling more will just send more to China & deplete our reserves faster. Trump's money printing caused our current inflation.
View attachment 637696

40% of the money in circulation was done in 2020 and the another 40% of the money currently in circulation today was printed in 2021 and we are set to print another 6-9 trillion more this year.

 

[KissMy]

40% of the money in circulation was done in 2020 and the another 40% of the money currently in circulation today was printed in 2021 and we are set to print another 6-9 trillion more this year.

BS. It was all printed by the Trump admin in 2020.