Bail Out the Oil Companies Next?

[LordBrownTrout]

Let them go bankrupt, then nationalize them, then scale them down as we transition to green energy.

This is very disturbing thinking.

 

[gipper]

Hell no.

If dumb Don bails out the oil companies no doubt many of his supporters will support it, even though they claim to be conservatives.

That's because the asswipePINO supporters favor "grabbing women by their pussy."

Biden rapes ‘em. So who you gonna vote for?

 

[BluesLegend]

Let them go bankrupt, then nationalize them, then scale them down as we transition to green energy.

^^^ why we are fighting to defeat the communist left. Wow, just wow.

 

[Sun Devil 92]

Are we going to give Billions to Chevron, Texaco, Anadarko?

Keep in mind, the last bailout for small businesses backfired badly.
View attachment 326136

Ya’ll want to let the blob do this again?

You know it is gonna happen!

Hell yeah. Part of me wonders if the speculation on prices was actually timed to maximize the price drop per barrel while Congress is debating a new round of stimulus.

We see who is getting bailed out in Conservistan; the shareholders and large businesses

Kinda like GM...which was a bad idea.

Bailing out the oil companies is a bad idea.

Live by the market.

Die by the market.

 

[WTH_Progs?]

Say idiots, you don't bailout Exxon etc., you bail out the small companies. Unless you like monopolies and high unemployment.

That is unless you can explain why oil should be treated differently because you happen to dislike oil.

 

[LordBrownTrout]

Are we going to give Billions to Chevron, Texaco, Anadarko?

Keep in mind, the last bailout for small businesses backfired badly.
View attachment 326136

Ya’ll want to let the blob do this again?

You know it is gonna happen!

Hell yeah. Part of me wonders if the speculation on prices was actually timed to maximize the price drop per barrel while Congress is debating a new round of stimulus.

We see who is getting bailed out in Conservistan; the shareholders and large businesses

Thats quite the imagination, cc. They would had to have planned this whole virus thing, worldwide shutdown, economic shutdown to get to that twilight zenith.

No need to plan the virus. Just drop the price of oil by not adjusting to demand

They have plenty of capital on hand. They don't need a bailout. The oil firm startups started buying from oil companies at 20 bucks a barrel. They were giddy yesterday when they were being paid to haul it away AND they can store it until market prices rise. Thats capitalism. Someone saw an opportunity and pounced. Now, you'll start seeing operators stacking rigs because they don't want to pay someone to haul the oil away. That same oil they just drilled. Lol.

 

[HappyJoy]

Let them go bankrupt, then nationalize them, then scale them down as we transition to green energy.

This is very disturbing thinking.

Stop subsidzing them and let them fail if you're such a fan of pure Capitalism.

 

[Bootney Lee Farnsworth]

We are at least 50 years from ANYTHING even close to the efficiency of petroleum energy.

Green energy idiots are delusional as fuck and don't understand basic physics.

 

[HappyJoy]

We are at least 50 years from ANYTHING even close to the efficiency of petroleum energy.

Green energy idiots are delusional as fuck and don't understand basic physics.

Who are you replying to?

 

[martybegan]

How about the renewable people come up with technology that makes things like the ICE obsolete, kind of like how the ICE made horses for work obsolete?

Use the market, not government mandates.

 

[blackhawk]

I get people like seeing big oil take the hit but you might remember not everyone who works in the oil and gas industry is a multi millionaire and they are getting hit as well.

 

[gipper]

Are we going to give Billions to Chevron, Texaco, Anadarko?

Keep in mind, the last bailout for small businesses backfired badly.
View attachment 326136

Ya’ll want to let the blob do this again?

I'm curious....have you ever once pitched a bitch about the $100B per year spent on the Democrats pet wetbacks...If no, should we find you credible in matters such as these?

Of course, the same can be said of you. Have you ever pitched a bitch about all the dumb shit Donnie has done?

 

[blackhawk]

Interesting story given topic of the thread.
The world can thank President Trump for the oil deal

 

[Tom Paine 1949]

Extended unemployment for laid off oil workers is appropriate. The new West Texas oil industry will return only when the price rises substantially to make credit-fueled fracking profitable once again. It could be years, or never.

The main oil companies going bankrupt (not speaking about speculative traders — screw them) are the thousands of artificially propped up small companies whose high production cost made them impossibly non-competitive. Ditto the U.S. oil export LNG industry. Without our armies and proxies in the Middle East destroying Libya and Iraq, our sanctions stopping oil production in Iran, the chaos in and sanctions on Venezuela, our pressure on allies (Germany and Nordstream2), the oil glut would have been obvious years ago. The safety net of U.S. “oil independence” step-by-step transformed into an actual motivation for imperialist trade war, not to get oil resources, but to restrict others from getting them. Watch for conflict between the U.S. and even our long-term despicable Saudi allies.

Trump can throw billions to big oil but it is money wasted on one of the most corrupt sectors of our military-industrial complex. He will probably introduce high tariffs, which will not be enough to save our small bankrupt oil companies, but will hurt consumers. The only real solution is another imperialist war shutting down the Persian Gulf and destroying production there. The ostensible target may be Iran, but the real targets will be Saudi Arabia and China.

 

[BlindBoo]

Help for the employees and workers in the supply chain yes, Bail out for the corporate profits to an industry that has seen record profits for years, maybe, with conditions? Energy is vital, we certainly can't let the industry wither away.

 

[Tom Paine 1949]

Help for the employees and workers in the supply chain yes, Bail out for the corporate profits to an industry that has seen record profits for years, maybe, with conditions? Energy is vital, we certainly can't let the industry wither away.

Workers in the oil industry are used to traveling the world. The big oil companies want not just bailouts but political protection overseas. The Saudis have been privatizing their long-ago formally nationalized oil company. Big oil wants to sweep in and buy everything up at a discount, which probably means war, and replacing MBS and the royals with an utterly U.S.-dependent ruler. Anyway, that’s my estimate of the real geo-politics of big oil today.

 

[westwall]

Let them go bankrupt, then nationalize them, then scale them down as we transition to green energy.

Die commie die.

Ok, let the oil industry die then.

You do realize it is just brokers who got hammered...right?

The oil industry is doing fine.

 

[HappyJoy]

Let them go bankrupt, then nationalize them, then scale them down as we transition to green energy.

Die commie die.

Ok, let the oil industry die then.

You do realize it is just brokers who got hammered...right?

The oil industry is doing fine.

Great, let's stop subsidizing them and get back to Capitalism.

 

[Olde Europe]

Help for the employees and workers in the supply chain yes, Bail out for the corporate profits to an industry that has seen record profits for years, maybe, with conditions? Energy is vital, we certainly can't let the industry wither away.

Not a chance the oil industry will wither away. If it is worth something (under normal circumstances), there will be buyers, for cents on the nominal dollar anyway. That doesn't change unless they can't find anyone to buy their crude.

Anyway, if these goons are worth anything in the ballpark of what they claim, they should have a near-infinite line of credit. So, why don't they apply? Bailing out Big Oil is just as egregious a raid of taxpayers as was the bailout of Big Finance 12 years ago. No way, no how...

 

[Olde Europe]

Extended unemployment for laid off oil workers is appropriate. The new West Texas oil industry will return only when the price rises substantially to make credit-fueled fracking profitable once again. It could be years, or never.

The main oil companies going bankrupt (not speaking about speculative traders — screw them) are the thousands of artificially propped up small companies whose high production cost made them impossibly non-competitive. Ditto the U.S. oil export LNG industry. Without our armies and proxies in the Middle East destroying Libya and Iraq, our sanctions stopping oil production in Iran, the chaos in and sanctions on Venezuela, our pressure on allies (Germany and Nordstream2), the oil glut would have been obvious years ago. The safety net of U.S. “oil independence” step-by-step transformed into an actual motivation for imperialist trade war, not to get oil resources, but to restrict others from getting them. Watch for conflict between the U.S. and even our long-term despicable Saudi allies.

Trump can throw billions to big oil but it is money wasted on one of the most corrupt sectors of our military-industrial complex. He will probably introduce high tariffs, which will not be enough to save our small bankrupt oil companies, but will hurt consumers. The only real solution is another imperialist war shutting down the Persian Gulf and destroying production there. The ostensible target may be Iran, but the real targets will be Saudi Arabia and China.

Sounds grim. Of course, any attack on Iran will sure lay waste to the Saudi oil infrastructure. I rather believe that's the main reason why it will not happen. No one can be so mad as to start a war on behalf of a measly 150k oil workers, and risk crude prices going through the roof, with attendant consequences. Not even to deny the Chinese the crude. Nope, don't think so.