OPEC might have to Flood the market with Oil because Biden has American Oil Booming at Record Production

[Cellblock2429]

So Trump took action to make us pay MORE for gas?

/---/ That wasn't the reason, dimwit, and you know it. Stop playing stupid just to get attention.

 

[Orangecat]

Biden doesn't control US oil producers and neither did Trump.

Biden doesn't even control his own bowels at this point.
He does make a great puppet for the marxists who are really calling the shots, though.

 

[Lesh]

/---/ That wasn't the reason, dimwit, and you know it. Stop playing stupid just to get attention.

It certainly is the effect.

Cut production and prices increase

Basic Econ

 

[marvin martian]

Joe Biden has US production booming at record levels, more than Trump, more than any president ever !
Joe Biden's booming Oil Production and his timely and skillful SPR releases, and his increase in non-OPEC supply has oil prices plummeting to the low $70/barrel !

US production is so strong and that is set to continue ! Non-OPEC production is also set to increase !
OPEC and corrupt Saudi Arabia (who gave Kushner a $2B bribe) has cut back production so substantially to try and prop up the price of oil because US production is so booming.

In 2014, under Obama's booming oil production, OPEC and the Saudis flooded the market to try and wash out booming US production, and oil dropped to under $40. OPEC might have to do that again because of Joe Biden's booming US oil Production.

Funny how US oil production surged and boomed under both Obama and now Biden... Biden has set the US record for oil production !!

So those stories about fossil fuels causing global warming are just bullshit after all?

Great news!

Drill, baby, drill!

 

[Cellblock2429]

It certainly is the effect.

Cut production and prices increase

Basic Econ

/——/ And what should Trump have done to stabilize the oil prices that were killing off US oil jobs? The price of oil was in negative numbers. You never addressed that.

 

[Lesh]

/——/ And what should Trump have done to stabilize the oil prices that were killing off US oil jobs? The price of oil was in negative numbers. You never addressed that.

Negative numbers?
What

They were paying people to take oil and gas?

 

[John Edgar Slow Horses]

Cellblock2429 said: And what should Trump have done to stabilize the oil prices that were killing off US oil jobs? The price of oil was in negative numbers. You never addressed that.


JESH Cellblock has trouble with his native language as well as economics.

 

[Cellblock2429]

Negative numbers?
What

They were paying people to take oil and gas?

/——/ You don’t remember?
THIS IS WHY TRUMP ASKED THE SAUDIS TO CUT PRODUCTION.
Despite the agreement to cut a tenth of global production, oil prices continued to fall to historic lows. U.S. oil futures dropped below $0 last week (April 20, 2020) as sellers paid buyers to avoid taking delivery of oil they had no place to store. Brent futures, the global oil benchmark, fell towards $15 per barrel - a level not seen since the 1999 oil price crash – from as high as $70 at the start of the year.

https://www.reuters.com/article/idUSKBN22C1V3/

 

[Lesh]

/——/ You don’t remember?
THIS IS WHY TRUMP ASKED THE SAUDIS TO CUT PRODUCTION.
Despite the agreement to cut a tenth of global production, oil prices continued to fall to historic lows. U.S. oil futures dropped below $0 last week (April 20, 2020) as sellers paid buyers to avoid taking delivery of oil they had no place to store. Brent futures, the global oil benchmark, fell towards $15 per barrel - a level not seen since the 1999 oil price crash – from as high as $70 at the start of the year.

https://www.reuters.com/article/idUSKBN22C1V3/

No place to store? We could have filled the
Strategic Oil Reserve for pennys and Paid the oil companies to keep them going.

 

[Cellblock2429]

Cellblock2429 said: And what should Trump have done to stabilize the oil prices that were killing off US oil jobs? The price of oil was in negative numbers. You never addressed that.


JESH Cellblock has trouble with his native language as well as economics.

/——/ What was unclear in my post? I already posted the Reuters article about oil price in negative numbers. Was there something else that confused you?

 

[Cellblock2429]

No place to store? We could have filled the
Strategic Oil Reserve for pennys and Paid the oil companies to keep them going.

/——/ Trump already did that and Dementia Joe sold it to the Chinese.

 

[surada]

So Trump took action to make us pay MORE for gas?

When the ppb goes low US producers are the first to suffer. We have the highest production costs in the world.

 

[surada]

/——/ Trump already did that and Dementia Joe sold it to the Chinese.

Sinopec Houston is a US company.

 

[surada]

/——/ Thanks for your Orange Man Bad opinion. Too bad you can’t prove it.

Lol Saudi Aramco is light years ahead of Trump. They knew demand was collapsing.

 

[initforme]

Any oil sttained on our land is american oil and it is wrong to let one drop of it leave the people who need it here.

 

[surada]

So cheap oil is a good thing now? Why did he run on the promise on bankrupting oil companies?

What happened to pushing EVs?

Glad to see you idiots admit oil and gas are good. Funny how all you did was make excuses when it was $5 for so long.

200 US oil companies declared bankruptcy in 2020.

 

[surada]

Any oil sttained on our land is american oil and it is wrong to let one drop of it leave the people who need it here.

Are you prepared to nationalize US oil production?

 

[surada]

But it was Biden that allowed that war to begin. And, it was Biden who allowed Russia to sell oil to Germany and open the pipeline that Trump had stopped.

Nordstream2 was a very good idea . Hard to comprehend why Putin wasted 11 years and 3 billion dollars for nothing. Russia and the Stans can't eat their natural gas.

Trump was trying to force Germany to buy very expensive US gas .

 

[Toddsterpatriot]

Nordstream2 was a very good idea . Hard to comprehend why Putin wasted 11 years and 3 billion dollars for nothing. Russia and the Stans can't eat their natural gas.

Trump was trying to force Germany to buy very expensive US gas .

And pressure Putin by reducing his foreign exchange.

 

[surada]

And pressure Putin by reducing his foreign exchange.

What?