Should US oil cpompanies who sell their oil outside of the US lose their subsidies?

[DudleySmith]

Coming from a person that has no idea WTF he's talking about. Trust me, I do. I studied intently on the subject.

I made a nice living off of speculating on oil stocks, I know all there is to know about it, thank you. You also said once that then number of new drilling rigs operating didn't mean anything because they were mostly rotary drills n stuff, which is hilarious. I guess you think rotary drills drill for something other than oil, like marshmellows, or Aunt Jemima Syrup?

Meanwhile, an indy driller in the Permian Basin just hit a net worth of $10 billion with his rotary drills; that's because all the big boys have decided to pay out dividends instead of reinvesting in drilling, and so have the big fracker companies and he is almost alone in new drilling. Why is that? Because banks are refusing loans to indies for new drilling.

 

[Ray From Cleveland]

I made a nice living off of speculating on oil stocks, I know all there is to know about it, thank you.

Sure you did. I can tell.

 

[BlindBoo]

When Trump left the White House we were paying on the national average $2.16 per gallon.

The low price of gas was caused by the glut of gas caused by the economic slow down caused by the pandemic. Not Trump, Just like higher prices were caused by increased demand and an industry having a hard time ramping up production because new wells need to be drilled, and now a war. Saul Biden.

 

[Lesh]

What subsidies?

Apparently even the OP is smarter than you

 

[there4eyeM]

I am waiting on the source you calculated that number from, asshole!

I was a middle and high school math teacher. I would be confident that you are math challenged compared to me.

Let's see your sources. Come on, man! Show some testicular fortitude!

See post 109.

 

[Admiral Rockwell Tory]

See post 109.

I said a link, you fucking twat socket! You just threw numbers out there with no source. I can do that too, but I won't because I have a little self-respect. You apparently do not!

 

[Ray From Cleveland]

The low price of gas was caused by the glut of gas caused by the economic slow down caused by the pandemic. Not Trump, Just like higher prices were caused by increased demand and an industry having a hard time ramping up production because new wells need to be drilled, and now a war. Saul Biden.

Bullshit. If Trump were President today we'd be paying at least a dollar less per gallon, and perhaps $2.50. As far as the market is concerned, there is a huge difference between a pro-energy President and an anti-energy President. Furthermore Putin would have never invaded Ukraine under Trump. Under DumBama he invaded Crimea and now under Dementia invaded Ukraine. He sat back during the Trump administration using caution.

If what you claim is true, how is it during the best economy in 50 years we never paid over $3.00 per gallon nationally? Before Biden's buddies in China sent us their covid, we had over a million more jobs than Americans that could work them, and no, it's not because government was paying people more money to stay home than work like what happened under Dementia.

"The best part about being a Democrat is never having to say it was your fault."
Ray from Cleveland.

 

[there4eyeM]

No one denies that oil companies' profits represent excessive power. No one denies that our dependence on this one energy source makes us weak and vulnerable.

 

[BlindBoo]

Bullshit. If Trump were President today we'd be paying at least a dollar less per gallon,

The cuts in world wide production oil occurred under Trump and he even bragged about the deal he made to cut oil production world wide. Of course that was at the end of his term when the world was getting back to work, so his deal really just helped OPEC who gleefully cut production to raise prices world wide. The guy really is the worst deal maker ever in the WH.

If. however is the most powerful word in the Universe.

 

[Ray From Cleveland]

The cuts in world wide production oil occurred under Trump and he even bragged about the deal he made to cut oil production world wide. Of course that was at the end of his term when the world was getting back to work, so his deal really just helped OPEC who gleefully cut production to raise prices world wide. The guy really is the worst deal maker ever in the WH.

If. however is the most powerful word in the Universe.

Under Trump we never hit $3.00 a gallon nationally which was pretty amazing given we had the best economy in nearly 50 years. True, Trump didn't want the market to crash which is why he supported some price increase, but not four bucks a Fn gallon.

Dementia is not trying to save the industry, he's trying to destroy it. Big difference.

 

[surada]

Under Trump we never hit $3.00 a gallon nationally which was pretty amazing given we had the best economy in nearly 50 years. True, Trump didn't want the market to crash which is why he supported some price increase, but not four bucks a Fn gallon.

Dementia is not trying to save the industry, he's trying to destroy it. Big difference.

Trump was setting Biden up.. just like he did in Afghanistan. Trump is famous for revenge his whole life.

 

[JustAGuy1]

Trump was setting Biden up.. just like he did in Afghanistan. Trump is famous for revenge his whole life.

LOL, paranoid much?

 

[surada]

LOL, paranoid much?

You don't know much about Trump.

 

[BlindBoo]

Under Trump we never hit $3.00 a gallon nationally which was pretty amazing given we had the best economy in nearly 50 years. True, Trump didn't want the market to crash which is why he supported some price increase, but not four bucks a Fn gallon.

Dementia is not trying to save the industry, he's trying to destroy it. Big difference.

The average hovered around 3 and obviously in places went over. It wasn't that amazing considering the strong and record breaking economy he was handed by Obama.

The industry doesn't need saving. This is the petroleum age.

 

[Ray From Cleveland]

Trump was setting Biden up.. just like he did in Afghanistan. Trump is famous for revenge his whole life.

And Democrats are renown for never taking responsibility for their own actions as your post proves. Trump was out of the White House for seven months when Dementia pulled us out and left 83 billion dollars of US military gear making the Taliban the most well armed terrorist group in the world. Or was that Trump's doing too?

Trump was setting Dementia up? How? Did he trick Dementia into stopping the Keystone? Did he sneak into the White House while everybody was sleeping and forge Dementia's name on the EO that stopped all new drilling and exploration on public lands? Did he write the scripts for Dementia and Whorris how they were going to stop fracking and get us out of dependency of fossil fuels? Or did he whisper in Dementia's ear that the Russians hacking our largest gasoline pipeline was not the federal governments business?

As for OPEC, what they are doing is taking advantage of an anti-energy President. They know his constituency group would never allow him to start new drilling and flood the market with energy as Trump did. Like Putin, it's an opportunity they may never get again in the future.

 

[JustAGuy1]

You don't know much about Trump.

LOL, thus far I've known more than you about everything. Now, cite something that will prove your assertion or just shut up? Sound like a plan?

 

[Ray From Cleveland]

The average hovered around 3 and obviously in places went over. It wasn't that amazing considering the strong and record breaking economy he was handed by Obama.

The industry doesn't need saving. This is the petroleum age.

 

[Big Bend Texas]

We always hear from the right that US oil can lower gas prices, but the truth is that the vast majority of US oil is sold to other countries, because the oil companies can make more money exporting it than selling it domestically.

I think we should stop subsidizing any oil company that does not sell at least 51% of the oil they drill in the US. The American taxpayers shouldn't be forced to subsidize companies that only care about profit and don't care about helping their country.

This is stupid.

We don't have the refining capacity to handle all the oil the US produces and we can't refine a lot of it in the US due to environmental concerns.

We also have federal trade agreements with other countries by which we're obligated to provide them oil in exchange for refined products and vice versa.

It's an international market with global pricing and that's the playing field they have to work on.

 

[BlindBoo]

when Dementia pulled us out and left 83 billion dollars of US military gear making the Taliban

This talking point is trying to blame Biden for all the gear and training the US has sent to Afghanistan in the 20 year occupation. Hardly worth mentioning the 5 bases some of that 83 billion went to, Trump evacuated or the more than 10,000 troops he pulled out even though he was informed that the Taliban was not meeting most all of the Doha Accord conditions. Not to forget, the gear that was still operational was being used by the Afghan Army.

View attachment 636629

Weekly U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

www.eia.gov

 

[Ray From Cleveland]

This talking point is trying to blame Biden for all the gear and training the US has sent to Afghanistan in the 20 year occupation. Hardly worth mentioning the 5 bases some of that 83 billion went to, Trump evacuated or the more than 10,000 troops he pulled out even though he was informed that the Taliban was not meeting most all of the Doha Accord conditions. Not to forget, the gear that was still operational was being used by the Afghan Army.

Weekly U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

www.eia.gov

What does it matter who it was used by. The so-called Afghan army ran for the hills when they learned Dementia was pulling out. He should have had our military take that gear with us or at the very least, send some bombs there to blow it up rendering it useless. In the last year and a half of Trump's presidency, not one US solder was killed. He had Afghanistan well under control. Trump's entire plan was to get out of Afghanistan, but not the way Dementia did. Even his top Generals warned him not to do something that stupid, but he did it anyway.

And thanks for the post supporting my point that gasoline never hit $3.00 a gallon during our best economy in 50 years.