Biden Got Us Into This Oil Price Mess

[Couchpotato]

Oil increases for 2023 is expected to be 12.8 bbls passing 2019 production levels.

If consumption stayed the same that would be good news. One can only assume the increase in consumption is outpacing the increase in production.

 

[Weatherman2020]

Which is not true and has nothing to do with drilling on public lands

Liar.
We know where the oil is.

Natural Oil Seepage Off California Coast

An oil slick from naturally occurring oil seeps off the coast of Santa Barbara, California. The Marine Oil Spill Thickness (MOST) project can detect the thickest oil in a slick.

www.jpl.nasa.gov

 

[hadit]

One contard please post the data for the last 6 years and specifically show domestic PRODUCTION

More lease mean zero when we already have leased land that is not being drilled YET how can you contards deny the PRODUCTION

MORE leases is like Jay Leno getting another car for his garage.

What good are leases that are not likely to produce oil? That's why many of them go unused. It's not like there's a layer of oil spread uniformly under the entire state of Alaska, for example.

 

[Moonglow]

If consumption stayed the same that would be good news. One can only assume the increase in consumption is outpacing the increase in production.

It is not uncommon for this to occur after a recession or depression.

 

[DigitalDrifter]

The Biden administration has set us up for a complete disaster with pump prices. We are completely screwed and left at the mercy of OPEC.

 

[AntonToo]

Liar.
We know where the oil is.

Natural Oil Seepage Off California Coast

An oil slick from naturally occurring oil seeps off the coast of Santa Barbara, California. The Marine Oil Spill Thickness (MOST) project can detect the thickest oil in a slick.

www.jpl.nasa.gov

Can you just stop talking?

You have no fucking clue what you are talking about.

 

[AntonToo]

Show me where I posted new leases.

Dumbass, what do you think the conversation you are replying to us about?

New leases and their effects on near term oil prices.

If you don't want to comment on that then don't fucking quote me, k?

 

[Indeependent]

Dumbass, what do you think the conversation you are replying to us about?

New leases and their effects on near term oil prices.

If you don't want to comment on that then don't fucking quote me, k?

I was replying exactly to your pathetic post.
I have been on projects sponsored by private investors to develop software to manage possibilities.
Aka you’re posting out of your rear end.

 

[Weatherman2020]

Can you just stop talking?

You have no fucking clue what you are talking about.

So you’re even totally clueless that oil is bubbling out of the ground in places in America and we aren’t tapping into it.

Yep, you Leftards don’t just hate science, you’re reality deniers too.

 

[Winston]

Sorry to inform you of the fact that potential drives the market, not restriction.

Really, where to you see "potential" in this list.

Energy & Financial Markets: What Drives Crude Oil Prices? - Energy Information Administration

www.eia.gov

 

[Indeependent]

Really, where to you see "potential" in this list.

Energy & Financial Markets: What Drives Crude Oil Prices? - Energy Information Administration

www.eia.gov

Try reading all my posts.
I have worked on systems for such situations.

 

[AntonToo]

I was replying exactly to your pathetic post.

Really? so whats this?

Show me where I posted new leases.

Just say straight up - do you or do you not agree that it takes considerable time to actually get oil out of the ground from new Federal leases?

 

[AntonToo]

oil is bubbling out of the ground in places in America

It's exception, not the rule.

You are lying by taking a tiny % of Federal lands that could possibly be leased that have something like that and are trying to present it as what is normally expected.

 

[Indeependent]

Really? so whats this?


Just say straight up - do you or do you not agree that it takes considerable time to actually get oil out of the ground from new Federal leases?

That’s not the post I responded to that I saw on my phone.

It’s obvious you have never met an uber wealthy investor.
Most products take years to hit and saturate a market.

 

[Indeependent]

It's exception, not the rule.

You take a tiny % of Federal lands that could possibly be leased that have something like that and are trying to present it as what is normally expected.

It’s obvious that Uber wealthy investors are not as bright as you have been led to believe.

 

[AntonToo]

That’s not the post I responded to that I saw on my phone.

Just answer the question - does it or does it not take considerable time for new Federal leases to actually result in oil on the market?

Scared?

 

[Indeependent]

Just answer the simple question - does it or does it not take considerable time for new Federal leases to actually result in oil on the market.

Scared?

Sure it does; it doesn’t stop investment and job creation.
In fact, it’s good for the economy.

Feel stupid yet?

 

[AntonToo]

Sure it does; it doesn’t stop investment and job creation.
In fact, it’s good for the economy.

Feel stupid yet?

Yep, I feel stupid that you are talking back to me while agreeing with the point I've been making this whole time

 

[Indeependent]

Yep, I feel stupid that you are talking back to me while agreeing with the point I've been making this whole time

Not from posts I’ve read.
Maybe it’s my phone not picking up every post.

 

[Winston]

Try reading all my posts.
I have worked on systems for such situations.

I did read that, man, it must have been one hell of a "system". Was it used to calculate forward oil prices? I mean if you included lease sales on public lands you must have included the price of coffee in Brazil as well. The amount of oil produced on public lands has been declining for decades, even under the Trump administration. Few of the leases are even used, and even at that, it will be a decade until any oil is flowing from them. A hell of a lot can happen in a decade.