Bye Bye Oil Price

[The Banker]

How Low Will She Go ?!?!?!

Will Oil go back down to $68 or less !!!!

Go America !

 

[YoursTruly]

/——/ Geeze I can’t dumb it down anymore for you. You think 10 cents a gallon is too much but 60 cents is fine and dandy.

It's not always .10 cents per gallon. This is the propaganda that you're falling for.
Do you honestly think that 10 cents per gallon is the profit margin when oil is $4 per gallon? It might be when it's $2 per gallon.

The oil companies own land as big as west Texas counties and their mineral rights. They shuffle the numbers around, create companies that show they had to pay another company for something, when they own both. From the well to the gas station in many MANY cases. The gas stations they call "franchises." But force the franchise owners to sell at the price they (the oil company) demands.
The trucking of the fuel from the refineries. The refineries. The pipelines. Each and every time the oil moves it moves under a different companies name. And it's the oil companies who own all those others.

FFS, this is business 101, dude. Tax write offs, A way to prove less income. Companies who don't show making much, so their tax bracket is lower.


This is something I learned decades ago. Companies like Exxon and Chevron were buying up land and mineral rights in west Texas (and other oil producing area's in the country) Like 500,000 acre ranches. All of this so they could own everything from the well to the gas station.
In 2017, Exxon bought a 275,000 acre plot. Along with the mineral rights, for $6.6 billion.

 

[YoursTruly]

How Low Will She Go ?!?!?!

Will Oil go back down to $68 or less !!!!

Go America !

Oil companies still make money at $50 per barrel because there's profit in every aspect of oil From the wall to the gas station.

 

[YoursTruly]

Fuck that "fossil fuels cause global warming" bullshit, amirite?

You honestly believed Lying Biden when he said he was going to end fossil fuels in America, didn't you?

 

[marvin martian]

You honestly believed Lying Biden when he said he was going to end fossil fuels in America, didn't you?

Of course not, and now we also know he's lying about giving even one little shit about "global warming". He doesn't.

 

[The Irish Ram]

The US is producing more oil than ever. That's an indisputable fact. Unlike Trump, though, Biden doesn't crow about it on Twitter. Maybe he should.

We are more energy independent than ever, too. Again, Biden doesn't crow about it.

So we could replenish the SPR very quickly if need be. But Biden is doing the intelligent thing by selling the oil when the price is high. Then he can buy it back when oil is low.

Profits!

Smart.

Lying bullshit.

If the US is producing more oil than ever, why the need to deplete our reserve?

 

[The Irish Ram]

The US is producing more oil than ever

Then why gut our reserve?

 

[Tunafish]

US Oil at $77 !!
Ha ha !

US wins, and the traitors lose again

USA ! USA ! USA ! USA ! USA ! USA ! USA !

WOOPS

Oil slumps nearly 3% to 3-month lows as demand concerns mount

Oil prices slid nearly 3% on Wednesday to their lowest in more than three months on concerns over waning demand in the U.S. and China.

www.reuters.com

"The meltdown we've seen in prices is reflecting two things: concerns about the global economy hitting a brick wall based on data out of China and also a sense of confidence that the war in Israel and the Gaza Strip is not going to impact supply," said Phil Flynn, analyst at Price Futures Group.

Oil dives 4% to lowest since July on demand worry, strong dollar

Oil prices fell more than 4% on Tuesday to their lowest since late July, as mixed Chinese economic data and rising OPEC exports eased fears about tight markets and as the dollar strengthened.

www.reuters.com

 

[g5000]

Then why gut our reserve?

Why did you not read the rest of my post?

 

[BlindBoo]

Lying bullshit.

If the US is producing more oil than ever, why the need to deplete our reserve?

The strategy was to help stabilize the world oil markets.

Biden releases more oil from strategic reserve to help lower gas prices

President Biden announced the release of an additional 15 million barrels of oil from the U.S. strategic reserve. The president insisted the move is not politically motivated ahead of the midterms and criticized oil companies for not doing more to ease pain at the pump. Geoff Bennett digs deeper...

www.pbs.org

"Look, the use of the Strategic Petroleum Reserve in this context is fundamentally linked to Putin's invasion of Ukraine and the unprecedented crisis that that created.

Again, the president's announcement of 180 million barrels of release was made last spring. This last installment is making good on that commitment, and to do so in a way that is a responsible use of this national asset; 180 million barrels has represented about a million barrels a day in additional supply onto the market, a little less over this period.

But, in practice, the goal of that was to provide a bridge so that our U.S. domestic producers could increase production without American consumers and without the global economy paying the price and bearing the brunt of Putin's unexpected and unconscionable invasion of Ukraine.

This is a responsible use of the asset. And, again, the repurchase plan is a responsible use as well."

 

[g5000]

Oil companies still make money at $50 per barrel because there's profit in every aspect of oil From the wall to the gas station.

Putin's economy depends on oil being above $60.

I would not be surprised if he attempts to introduce more chaos into the world's oil economy.

 

[The Irish Ram]

Why did you not read the rest of my post?

I did, g. And if we go to war tomorrow? Do you trust Biden to play the market with our gold reserve too and then wait until it's down to $250. an ounce to buy it all back? You have a lot more faith in these idiots than I do.

The average cost of the oil in our reserve was bought for $29.00 a barrel. And Biden is going through about a million barrels of it a day. Half of it is already gone. Do we just cross our fingers and hope our military doesn't need any oil until it's $29.00 a barrel again?
You are smarter than that...

 

[The Irish Ram]

This is a responsible use of the asset. And, again, the repurchase plan is a responsible use as well

If we wanted to stabilize the global market would we have blown up Russia's pipeline?
The reserve isn't an asset to be dickered with. It is set aside from the dickering. Biden is using it to prevent gas from going through the roof until the next election.

Reserve ~ refrain from using or disposing of (something); retain for future use.

 

[BlindBoo]

If we wanted to stabilize the global market would we have blown up Russia's pipeline?
The reserve isn't an asset to be dickered with. It is set aside from the dickering. Biden is using it to prevent gas from going through the roof until the next election.

Reserve ~ refrain from using or disposing of (something); retain for future use.

The pipeline that apparently spontaneously exploded was not delivering NG to Germany. The US oil patch has increased production by about 1.4 mbd since the release was announced.

 

[Fort Fun Indiana]

Government takes in 6 times what the oil companies make in profit.

Which enables the oil companies to make profit, as the cars that their gas goes into use...

... roads.

 

[Cellblock2429]

It's not always .10 cents per gallon. This is the propaganda that you're falling for.
Do you honestly think that 10 cents per gallon is the profit margin when oil is $4 per gallon? It might be when it's $2 per gallon.

The oil companies own land as big as west Texas counties and their mineral rights. They shuffle the numbers around, create companies that show they had to pay another company for something, when they own both. From the well to the gas station in many MANY cases. The gas stations they call "franchises." But force the franchise owners to sell at the price they (the oil company) demands.
The trucking of the fuel from the refineries. The refineries. The pipelines. Each and every time the oil moves it moves under a different companies name. And it's the oil companies who own all those others.

FFS, this is business 101, dude. Tax write offs, A way to prove less income. Companies who don't show making much, so their tax bracket is lower.


This is something I learned decades ago. Companies like Exxon and Chevron were buying up land and mineral rights in west Texas (and other oil producing area's in the country) Like 500,000 acre ranches. All of this so they could own everything from the well to the gas station.
In 2017, Exxon bought a 275,000 acre plot. Along with the mineral rights, for $6.6 billion.

/——/ Some of which you say is true, yet you fail to support your claim the oil companies make more than 10 cents a gallon.
If Dementia Joe raises corporate taxes what happens to the price of gas?

 

[Fort Fun Indiana]

Look at this shitheel trying to drum up sympathy for the most profitable industry on earth.

Republicans have turned people's brains to mush.

 

[Clipper]

why do you question that?

How about an explanation how the Gubmint is costing the poster $600/month?

 

[westwall]

Trumps biggest problems his first two years were the fiscal conservatives, blocking his "Obamacare on steroids" bill. They objected to his reauthorization of FISA 702 (warrantless spying on Americans). They objected to his first spending bill of $1.4 trillion.

That kind of crap, like supporting warrantless spying on Americans, isn't "America first." It's big government first.


FFS, Trump had Thomas Massie primaried. Thomas Massie. One of the most fiscally and constitutionally conservatives in DC. He had him primaried because he simply requested ask for a recorded vote on the UNCONSTITUTIONAL NDAA reauthorization.

Trump's a fucking RINO, dude. Regardless of what he says, his sale pitch is, or what his minions say, Trump is nothing more than a big spending, big government, north eastern democrat with a great line of BS. (That you fell for)

Bullshit. Trump was attacked from both sides. That makes him most definitely NOT a RINO.

 

[The Irish Ram]

How about an explanation how the Gubmint is costing the poster $600/month?

By suspending oil and gas leases. Delaying permits, some for 7 years. Out of control EPA regulations on our refineries has caused nearly half of them to close.
The gas and oil companies have to pay for the land they lease from the owners. If they don't continue to produce, then when and if the government loosens the noose, they would have to pay the bonuses again to the property owners, and those puppies are massive. I'd love another one of those.
So, the companies are producing the minimum under their contracts with the owners. What they produced under Trump garnered royalty checks averaging $600 to $1,000 a month.
Under Biden = $37.00.
There ya go. That's how.

Biden's war on oil is putting us in a bad position. Using our reserve to compensate for it is worse. And now it's depleted to the point that the turnip has had to open up 80 million acres in the Gulf of Mexico to the gas companies.