Oil Headed to $65 a Barrel. Dec 2024.

[Robert W]

All you saw was big oil reducing drilling in order to hand out big dividends for a couple of years and stop plowing capital into drilling.

Oil companies do what they want, when they want.

Courts allowed oil firms to keep drilling. But they got ready in case Biden won his cases.

 

[Winco]

My hunch is big oil figured that Trump would be president again and now prices are lower.

Are they?
Lower than when?
What Price?

 

[Robert W]

Let's talk OPEC+

Can you talk OPEC+, or does it scare you?

Doug, let's both be honest. I believe you might be willing. OPEC is not our major supply. It does help a bit. But we used to need OPEC a lot more than today.

 

[Robert W]

Are they?
Lower than when?
What Price?

San Francisco for instance sells gasoline at a low price for them of $3.19 per gallon. I was surprised it was so cheap. I have to check their prices before Trump won his election. I will not do it tonight. It is almost midnight.

 

[Robert W]

The independents increased drilling, not Biden. They were also hamstrung in drilling thanks to the manufacturers cutting back on making oil field drilling equipment due to the big giants cutting drilling in order to hand out max dividends, also common knowledge for a couple of years, making finding enough rigs almost impossible.

I have no quarrel with your remarks. I know to manufacture a oil rig for use in the
Gulf as an example, the firms making them take a long time to get from steel on the ground to a rig in the Gulf. And drilling ships also take time to move around.

 

[Robert W]

Are they?
Lower than when?
What Price?

I only checked on San Francisco. I plan to do a history tomorrow., Then you will get my reply.

 

[Robert W]

Can you talk OPEC+, or does it scare you?

Think Doug like I live next door to you and you see me in person. Talk like we are best pals. What have I said to you to imply I get scared?

 

[Winco]

Think Doug like I live next door to you and you see me in person. Talk like we are best pals. What have I said to you to imply I get scared?

Do you believe it was some trump policy (Oil Related) that lowered gas prices in April 2020, or was the lower PRICE due to COVID?

This is a FAIR question, that no conservative will honestly answer.
So what is YOUR answer?

Q: In Case you Missed it: Why were gas prices LOWER in April 2020?

 

[Winco]

It appears that Robert W went sleepy sleepy.
It's OK, I just expect Robert W to respond before I go to Work.
Work.....is 7:00 am PST.

Do you believe it was some trump policy (Oil Related) that lowered gas prices in April 2020, or was the lower PRICE due to COVID?

This is a FAIR question, that no conservative will honestly answer.
So what is YOUR answer?

Q: In Case you Missed it: Why were gas prices LOWER in April 2020?

 

[Robert W]

It appears that Robert W went sleepy sleepy.
It's OK, I just expect Robert W to respond before I go to Work.
Work.....is 7:00 am PST.

Do you believe it was some trump policy (Oil Related) that lowered gas prices in April 2020, or was the lower PRICE due to COVID?

This is a FAIR question, that no conservative will honestly answer.
So what is YOUR answer?

Q: In Case you Missed it: Why were gas prices LOWER in April 2020?

I believe that the oil firms realized they needed the low prices since Trump would threaten them if they dared pull what Biden pulled. And it is almost 2 am. I want to sleep.

 

[Picaro]

I have no quarrel with your remarks. I know to manufacture a oil rig for use in the
Gulf as an example, the firms making them take a long time to get from steel on the ground to a rig in the Gulf. And drilling ships also take time to move around.

I go by what the indies themselves reported; they are accurate indicators.

 

[Picaro]

Courts allowed oil firms to keep drilling. But they got ready in case Biden won his cases.

Biden didn't stop anybody from drilling. Like I said, the indies kept going. One here in Texas just sold out recently for many billions of dollars. Plenty of leases around on private land, like West Texas.

 

[White 6]

I cut your discussion to this to focus both of us on what you said.
I agree that candidates love to bullshit us all. I feel they are backed into this corner by events from their pasts. We all believe what we see with our own eyes.
My eyes saw this. We saw oil prices climb very fast when Biden promised to shut down the oil industry. Blaming this on climate of all issues. Biden can't expect credit when the credit comes from court orders to him. Thanks to the courts we now pay $4 per gallon in areas when we would have paid maybe up to $10 per gallon had Biden got his way. I thank the courts to be frank. Where does Alaska oil end up at? It should ensure CA has cheap gasoline. But check their prices today. Best Gas Prices & Local Gas Stations in San Francisco, CA

While the election of Trump can be the reason prices now fell, I must study the prices there over the past 3 months to be positive.

Fracking is the sensible way to make proper use of all oil wells. It will recover at a marginal cost oil the previously was out of reach to the oil firms.

It is unlikely the price fell due to Biden or government in general, really, so he doesn't get much credit, but some. Big Oil, is literally that, BIG OIL. Like wealthy people continuing long-stand generational business, they know how to make and secure their profits, no matter who is in office, making the most of any business climate. They are international with international investors and never have all their eggs in one basket.

I paid $2.63 yesterday with little or no discount, on 10 gallons, rarely topping off tank, unless getting 40 to 60 cents off / gallon, hand half a tank is marginally more efficient. I am not in CA, and do not plan to be. I regard that state's energy policy driven by morons and wackos.

Price did not drop because Trump elected. Did you take a pay cut, to make Trump look better for being elected. Nope. Neither did I and neither did big oil. Remember, these are the folk that didn't jump to full and expanding production, until Biden had been in office for a month or two.

Fracking is a mixed bag, very benefitial to the industry, retrieving hard to get to, deposits that would not have been recovered without it. Of course, you and I do not have our house shake on occasion, nor our water supply fouled. It kind of depends on where you are and the reactions underground to the process and what is being done with the fluids.

 

[Robert W]

It is unlikely the price fell due to Biden or government in general, really, so he doesn't get much credit, but some. Big Oil, is literally that, BIG OIL. Like wealthy people continuing long-stand generational business, they know how to make and secure their profits, no matter who is in office, making the most of any business climate. They are international with international investors and never have all their eggs in one basket.

I paid $2.63 yesterday with little or no discount, on 10 gallons, rarely topping off tank, unless getting 40 to 60 cents off / gallon, hand half a tank is marginally more efficient. I am not in CA, and do not plan to be. I regard that state's energy policy driven by morons and wackos.

Price did not drop because Trump elected. Did you take a pay cut, to make Trump look better for being elected. Nope. Neither did I and neither did big oil. Remember, these are the folk that didn't jump to full and expanding production, until Biden had been in office for a month or two.

Fracking is a mixed bag, very benefitial to the industry, retrieving hard to get to, deposits that would not have been recovered without it. Of course, you and I do not have our house shake on occasion, nor our water supply fouled. It kind of depends on where you are and the reactions underground to the process and what is being done with the fluids.

I wish other posters could be so honest. You don't see how the oil industry dropped prices due to Trump being put back into office in January 2025? How can they simply ignore what will happen under his watch?
I see Fracking as very reasonable. It simply makes it feasible to extract more oil than if they were stopped from Fracking.

I am not talking of getting oil through water deposits underground. They must protect the water of residents.

 

[White 6]

I wish other posters could be so honest. You don't see how the oil industry dropped prices due to Trump being put back into office in January 2025? How can they simply ignore what will happen under his watch?
I see Fracking as very reasonable. It simply makes it feasible to extract more oil than if they were stopped from Fracking.

I am not talking of getting oil through water deposits underground. They must protect the water of residents.

It did not drop, simply because he was elected. It wasn't a "trump got elected so, we are going to cut you some slack out of profit" kind of thing. That make no business sense, whatsoever.

In many cases fracking is fine. In other cases, fracking fluids have been forced into water wells, polluting them beyond ever being used again. I have also seen, situations where the injection of fracking fluids displaced natural gas above water table, bubbling into the water to the point, water out of the, not only could not be drank, but in fact, could burn coming out of the tap. It is also true, that in many places, such as some areas of Oklahoma, and some in Texas, where fracking is directly linked to sudden onslaught earthquakes, that have repeatedly damaged homes to the point of cracking plaster and drywall. When repaired, another round of quakes, then causes repeat of the damage, and this in a area that had not previously been subject to seismic activity. The guy on the report raised horses, but now, could no longer use his well, as it was no longer potable, even or use on horses. Currently he is bringing in water for his own use, but cannot continue to raise horses, as all water now has to transported in.

Like you, I also think fracking is a boon to energy production. But, I do realize, in some cases, it creats externalities of cost, and problems foisted on people and communities, the majority of those negatively affected, not participating in the profit attained. When the problem reported, document and linking to the fracking, oil companies got to great lengths to avoid or disprove the connection and with deeper pockets, than the affected ones. In the Texas case, the horse farmer who retired there, sinking his savings into the horse farm, he now has little choise but to move and cannot find buyer for farm, now without potable water, and being continually damaged by shifts in the earths. State governments do get involved, but have to walk a fine balancing line, not wanting to kill the golden goose, but having to deal with the inequity of the few negatively affected.

 

[Robert W]

It did not drop, simply because he was elected. It wasn't a "trump got elected so, we are going to cut you some slack out of profit" kind of thing. That make no business sense, whatsoever.

In many cases fracking is fine. In other cases, fracking fluids have been forced into water wells, polluting them beyond ever being used again. I have also seen, situations where the injection of fracking fluids displaced natural gas above water table, bubbling into the water to the point, water out of the, not only could not be drank, but in fact, could burn coming out of the tap. It is also true, that in many places, such as some areas of Oklahoma, and some in Texas, where fracking is directly linked to sudden onslaught earthquakes, that have repeatedly damaged homes to the point of cracking plaster and drywall. When repaired, another round of quakes, then causes repeat of the damage, and this in a area that had not previously been subject to seismic activity. The guy on the report raised horses, but now, could no longer use his well, as it was no longer potable, even or use on horses. Currently he is bringing in water for his own use, but cannot continue to raise horses, as all water now has to transported in.

Like you, I also think fracking is a boon to energy production. But, I do realize, in some cases, it creats externalities of cost, and problems foisted on people and communities, the majority of those negatively affected, not participating in the profit attained. When the problem reported, document and linking to the fracking, oil companies got to great lengths to avoid or disprove the connection and with deeper pockets, than the affected ones. In the Texas case, the horse farmer who retired there, sinking his savings into the horse farm, he now has little choise but to move and cannot find buyer for farm, now without potable water, and being continually damaged by shifts in the earths. State governments do get involved, but have to walk a fine balancing line, not wanting to kill the golden goose, but having to deal with the inequity of the few negatively affected.

I want to address the problem for the horse farmer. I was a certified licensed Appraiser for a number of years. When it conflicted with my loan business, I quit the appraisal business.
I had a case of appraising a home in the Sierra nevada Mountains that was impacted by the gold rush days and the miners had contaminated a good many acres and my subject was on the site. A hell of a note. It means the contamination cut back the value of the property. This is similar to the water being contaminated as well. How could I appraise the property and not fuck the owners. If others did not know of the contamination, what was a problem for them? I don't recall my solution at the time but it was something I can't just ignore happened.

 

[White 6]

I want to address the problem for the horse farmer. I was a certified licensed Appraiser for a number of years. When it conflicted with my loan business, I quit the appraisal business.
I had a case of appraising a home in the Sierra nevada Mountains that was impacted by the gold rush days and the miners had contaminated a good many acres and my subject was on the site. A hell of a note. It means the contamination cut back the value of the property. This is similar to the water being contaminated as well. How could I appraise the property and not fuck the owners. If others did not know of the contamination, what was a problem for them? I don't recall my solution at the time but it was something I can't just ignore happened.

I have probably heard the problems of arsenic and other heavy metal contamination at gold and silver mines, really only becoming aware during last 30 years. I guess somewhat similar problem to that, though that is left over from a bygone era. Before, I just pictured miner forty niner either panning streams or packing out nuggets embedded in mother load rock on his ass. Maybe nothing has ever been simple.

 

[Robert W]

I have probably heard the problems of arsenic and other heavy metal contamination at gold and silver mines, really only becoming aware during last 30 years. I guess somewhat similar problem to that, though that is left over from a bygone era. Before, I just pictured miner forty niner either panning streams or packing out nuggets embedded in mother load rock on his ass. Maybe nothing has ever been simple.

Thank you for reminding me of the contamination at the subject site. It was arsenic. The miners made use of that element. And it played hell with the group of homes i was then appraising. It would be kind of amusing for me to revisit those homes to see if they suffer loss of value as shown in the appraisals. Frankly this was not taught in schools I attended and frankly even banks appraisers often don't know of those problems. Buyers fall in love with the home and the surroundings and most of them can't put a dollar to the contamination problem as to values. Frankly the mortgage industry sustains by making loans even on such properties and they really don't want to hear of contamination either.

 

[Robert W]

I no longer have a copy of the appraisal I did in the Sierras but looked at the map and believe it was at San Andreas. It was once a gold mining area.

Arsenic problems are as this shows.

People also ask

What are the arsenic levels in California?


In November 2008, the California MCL for arsenic was revised from 50 μg/L to 10 μg/L. The National Academy of Sciences estimated that the lifetime risk of developing bladder or lung cancer from arsenic in tap water (assuming 2 liters consumption per day) is greater than 3 in 1,000 for an arsenic level of 10 μg/L.

Groundwater Fact Sheet Arsenic (As)​

State Water Resources Control Board - CA.gov
https://www.waterboards.ca.gov › docs › coc_arsenic

 

[Winco]

Prices went up. So false.

White 6 and I told you facts. That oil prices went up. They do not seem headed down today. We agree, White and 6. Why don't you agree given he and I posted facts for you?

Try not to get angry. I am not your enemy. I rather enjoy facts. When you said prices would drop to $65 per bbl, I hoped you are correct. Then I checked the facts.

Just Posting Facts Robert W