Sen. Warren On Oil Prices: This Isn't About Inflation. This Is About Price Gouging

Because you are pissed when you don't get the answer you want. Mine is a perfectly reasonable position. When one has something, they should not abuse it or you risk losing it.

What I want is also irrelevant. I can change nothing. Other countries have grown tired of our bombs in place of reasonable diplomacy.
No, it is not a 'reasonable position' because you have not thought through a single impact of such would have or what would replace the US as the leading economy.

Like I said earlier, all nations play this game. If we are not at the helm then China will be, that is simple a fact. If you think that leads to less conflict or misery in the world then you are simple ignoring history.
 
No, it is not a 'reasonable position' because you have not thought through a single impact of such would have or what would replace the US as the leading economy.

Like I said earlier, all nations play this game. If we are not at the helm then China will be, that is simple a fact. If you think that leads to less conflict or misery in the world then you are simple ignoring history.

Let China waste Trillions of dollars trying to lead.
 
Let China waste Trillions of dollars trying to lead.
Yes. We waste trillions leading the world. That is why, a nation that has 4.2% of the worlds population, the US has 30% of the wealth of the planet.

Again, your position is not reasonable because you have not thought about the consequence of it.
 
Yes. We waste trillions leading the world. That is why, a nation that has 4.2% of the worlds population, the US has 30% of the wealth of the planet.

Again, your position is not reasonable because you have not thought about the consequence of it.

Because we get to print the money. That's not going to last forever.
 
To some extent, Warren is correct. The oil companies lost a lot of money during the pandemic, and laid off tens of thousands of workers, and now they are holding back on increasing production in order to make their money back.

OPEC and Russia are doing the same.


The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known collectively as OPEC+, last week resisted calls to raise output faster and stuck to their plan for an increase of 400,000 barrels per day (bpd) in November.

Russia's economy is completely dependent on high oil prices. Putin is reaping the benefits of holding back.

 

But even the investors who are sticking with oil and gas are putting a lot of pressure on companies to rein themselves in.

And that makes a big difference. Many oil producers need Wall Street money to fund new wells. Investors control the purse strings. And right now, investors just aren't impressed by how many barrels a company says they can drill.

"Investing for the sake of growth is not what investors want," says Pickering, of Pickering Energy Partners. "Growth got us more barrels. It got us too many barrels. It got us low prices. It got us weak returns."

Less oil, more cash in hand: That, in a nutshell, is what oil financiers are demanding. And in response, executives are vowing that they'll be responsible, and focus on profits over oil.
 
Good article, g5000, for showing another aspect of the oil business — the investors (especially in fracking and LNG storage and pipe and port facilities) on Wall Street. But of course this article is a bit dated. The small frackers have mostly been squeezed out by the big boys during the COVID crash in demand and prices. There is much raw politics in oil as well as different capitalist interests, and there are monopolies in distribution as well as via OPEC. I tried to show some of this in my earlier comment #54.

The latest news is that the Biden Administration is trying to reign in OPEC and domestic producers (who favor Republicans and are conspiring to wound him and maximize profit taking at the same time) by coordinating an unprecedented international release of strategic reserves.

This is unlikely to make a major difference in the short run, but may make his enemies realize he means business. Hopefully they will hesitate to drive prices higher. In any case, gasoline prices are unlikely to stay very high longterm — short of war with Russia or in the Persian Gulf. The oil and military and Saudi/Emirate lobbies are, however, very strong, especially now that they are all allied with the powerful Israeli lobby as well.
 
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The many oil and Republican lobbies would tie us all to trees, cut them down, and harvest our bones. But of course that’s just my talking metaphorically. To understand what is really happening, you need to think more deeply about what is going on…
 
The latest news is that the Biden Administration is trying to reign in OPEC and domestic producers (who favor Republicans and are conspiring to wound him and maximize profit taking at the same time) by coordinating an unprecedented international release of strategic reserves.

How is that going to "rein" in OPEC ?
 
Oil prices fell with the pandemic and the argument was Trump caused the prices to fall. What else is one to conclude?

The price of oil was up from 2016 until Covid hit. Please explain.
It was because OPEC called it a day after they found out they would no longer undercut the US shale oil and LNG because the US would be in "all you can fracking" mode after Trump had moved into WH. Learn the energy politics and US dollars history. :rolleyes:
 
The many oil and Republican lobbies would tie us all to trees, cut them down, and harvest our bones. But of course that’s just my talking metaphorically. To understand what is really happening, you need to think more deeply about what is going on…
What is going on is leftist dolts drinking too much climate change activists' Koolaid. I am all for environmental protection, but global warming is as fake as AV's orgasm :rolleyes:
 
He means business? LOL!
Why would they hesitate? Will he restrict production, to teach them a lesson?
He should fight them and the Saudis. But you are right. The oil giants and their allies have Biden — and all of us — under their thumbs. Does this surprise anybody?

Didn’t Trump go play footsie with the Saudis right after they killed Khashoggi? Doesn’t the Military Industrial Complex still sell them and other Gulf oil shiekdoms billions in weapons — all while invading or destroying oil production in Iraq & Libya, sanctioning / destroying oil sales out of Iran and Venezuela, vetoing China’s offers to rebuild Iraq’s oil infrastructure? This has been bi-partisan policy for a long time and nobody — certainly not Biden — will reverse it anytime soon. And so we all pay at the pump.

Even so, the price of gasoline will not stay high forever, though before the 2022 elections we are unlikely to see prices go way down again to COVID era levels, nor will the Saudi’s cooperate with Biden as they might for their boy Trump. Biden is still refusing to meet with the butcher MSB, but he may have to meet with him soon.

It would take a better President to release the files on 9/11, sue the Kingdom for a few hundred billion dollars, force the removal of MBS, etc.
 
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He should fight them and the Saudis. But you are right. The oil giants and their allies have Biden — and all of us — under their thumbs. Does this surprise anybody?

Didn’t Trump go play footsie with the Saudis right after they killed Khashoggi? Doesn’t the Military Industrial Complex still sell them and other Gulf oil shiekdoms billions in weapons — all while invading or destroying oil production in Iraq & Libya, sanctioning / destroying oil sales out of Iran and Venezuela, while vetoing China’s offers to rebuild Iraq’s oil infrastructure? This has been bi-partisan policy for a long time and nobody — certainly not Biden — will reverse it anytime soon. And so we all pay at the pump.

Even so, the price of gasoline will not stay high for long. Probably — before the 2022 elections — we are unlikely to see prices go way down again, nor will the Saudi’s cooperate with Biden as they might for their boy Trump. Biden is still refusing to meet with the butcher MSB, but he may have to meet with him soon.

It would take a better President to release the files on 9/11, sue the Kingdom for a few hundred billion dollars, force the removal of MBS, etc.

He should fight them and the Saudis.

Fight them by restricting the supply of their product? Brilliant!!!

Didn’t Trump go play footsie with the Saudis right after they killed Khashoggi?

Did he?

all while invading or destroying oil production in Iraq & Libya

That's not how you want to fight OPEC?

destroying oil sales out of Iran and Venezuela

OMG!!! Giving terrorist regimes less access to money, awful!!!

Even so, the price of gasoline will not stay high for long. Probably — before the 2022 elections — we are unlikely to see prices go way down again,

Why?
 
Toddsterpatriot, I’ve addressed all these issues a hundred times. Your first “question” already shows you have no idea what I’m talking about and haven’t even read my comments in this thread. Not interested in repeating myself. Search for my name, “oil” and “Saudi” — or find somebody else to troll.
 
Watching these two women trying to explain the high prices and labor shortages is nothing short of comedy. LOL. According to them the high prices and shortages I’m personally witnessing is just Republican false news. It’s not really happening. Economic indicators say all is fine. smh
That's what got Trump elected before.

Jo
 
We need a full commie takeover of America's resources, you know, to make it fair, so they can shut it all down in favor of green energy to save their god, mother Earth from the mean humans.
Oh yeah.....let the government run it do it can soar to 20 bucks a gallon 19 of which will end up in DC.

Jo
 
Toddsterpatriot, I’ve addressed all these issues a hundred times. Your first “question” already shows you have no idea what I’m talking about and haven’t even read my comments in this thread. Not interested in repeating myself. Search for my name, “oil” and “Saudi” — or find somebody else to troll.

Not interested in proving your silly claims either. DURR
 

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