The U.S. Is Pumping Oil Faster Than Ever

[ThisIsMe]

Those other countries are much smaller than ours.

I’ll give you that, but there are also countries who are much larger that could chip in, but don’t.

 

[marvin martian]

I don’t get your right tars logic.

Biden has released oil from the Strategic Reserve and sold oil leases

I have no idea what lies you refer to

Haha! Remember when DemoKKKrats lied about oil causing "global warming"? Fuck that, now it's "drill, baby, drill!"

DemoKKKrats - "Big Oil forever!"

I LOVE it!

 

[g5000]

I’ll give you that, but there are also countries who are much larger that could chip in, but don’t.

The bigger countries are oil producers and it is against their interests to make oil cheaper.

That's what the OP is all about.

 

[Lesh]

Yep, trump released a total of 60 million bbls..

For far less reason than Biden and it bothers you not at all. Incidentally a lot more than 60 has been released and not replenished before Biden and that doesn’t seem to bother you either

 

[elektra]

You have done nothing but spew hate in every post you have made in this topic to cover up your total ignorance.

says you

 

[elektra]

Repeating a lie over and over does not make it true.

says you

 

[ThisIsMe]

Biden released 260 m barrels

There was at one point 724m

There is what… 348m now

Where did the rest go and why are you only concerned about the oil Biden released?

It was at 724M back in 2009. That’s not relevant to when Biden took office. 638M in Jan of 2021, 609M in nov of 2021, 348M now.

I’m concerned about the Biden release because he drained the reserve by 43%, and said he would replenish at $70, but when $60 came around, he held off and didn’t fill it back up.

Look, as long as the US has enough to keep us afloat, im fine, but we currently use 20M per day, and have the ability to only extract about 4.4M per day from the reserves, which means if there is an oil crisis, we have a big deficit to overcome. 80 days currently is what we can get from pumping 4.4M per day. We need to increase spr capacity, and the ability to extract as much as we need per day to set us up in case there is ever a crisis, or we need an increased production from the spr to offset.

Personally, I’d say build a few more refineries and allow our oil producers to ramp up production so we are not so dependent on foreign oil.

 

[ThisIsMe]

The bigger countries are oil producers and it is against their interests to make oil cheaper.

That's what the OP is all about.

But the US is an oil producer as well…but we decided to make oil prices cheaper for the whole world..by dwindling our spr.
Doesn’t seem fair does it? Why would we give the world our strategic reserve when the other big countries are holding theirs?

 

[ThisIsMe]

For far less reason than Biden and it bothers you not at all. Incidentally a lot more than 60 has been released and not replenished before Biden and that doesn’t seem to bother you either

Well, I think g5000 posted that the reduction under trump was mandated by law.

But yes, there have been other reductions. Obama came in at 701M, got it all the way up to 726M, the left office at 695M.

As I said, as long as we stay stable, it’s fine, but a 43% reduction in our strategic reserve is a bit risky. We need to start building that back up.

 

[g5000]

But the US is an oil producer as well…but we decided to make oil prices cheaper for the whole world..by dwindling our spr.
Doesn’t seem fair does it? Why would we give the world our strategic reserve when the other big countries are holding theirs?

Russia and Saudi Arabia's entire economies are wholly dependent on oil profits. Oil revenues are nearly half of Russia's federal budget.

That is not the case with the US.

 

[g5000]

Well, I think g5000 posted that the reduction under trump was mandated by law.

But yes, there have been other reductions. Obama came in at 701M, got it all the way up to 726M, the left office at 695M.

As I said, as long as we stay stable, it’s fine, but a 43% reduction in our strategic reserve is a bit risky. We need to start building that back up.

When the price of oil drops, then we can refill the reserves.

It would be foolish to do so now.

 

[Markle]

He released about a QUARTER of the reserves.

Hardly “draining”

So you LIKE paying more for gas?

All President Biden had to do to keep energy prices low was to do NOTHING.

 

[The Duke]

That was the day Biden took office.

Things have changed a great deal since then.

Do try to catch up. The figures don't lie.

Yeah, they figured out they'd get rode out the White House on a rail if they stuck with it.

 

[The Duke]

Since Biden became president, Jan 2021 our aggregate inflation is 17%.

What it means is that what cost $100 when Biden took over now costs $117.

Not according to the electric and fuel and grocery bills.

 

[The Duke]

All President Biden had to do to keep energy prices low was to do NOTHING.

He screwed it all up on day 1. Got in there like a monkey throwing monkey wrenches and sand into the gears of America.

Just like Obama.

 

[Nostra]

When the price of oil drops, then we can refill the reserves.

It would be foolish to do so now.

Too bad Dimwingers stopped Trump from filling it up with $20 something oil,huh?

 

[surada]

The oil business is risky

But if not for libs freaked out over the man-made global warming DOOMSDAY hoax the rewards outweigh the risks

Yes, US oil production has always been boom and bust. Maybe the industry is maturing. They are returning profits to investors and focusing on stability.

 

[surada]

Again...oil likes the path of least resistance. And government can clog things up. Old Joe is part of it. Self-important and knowing better like a lot of people who interfere with others trying to live. Another fraud huge government guy who lives off the best capitalism produces. Overseas issues can affect prices. OPEC is not doing us any favors. Transporting oil by railroad instead of pipeline is more costly. Stopping drilling permits even with approved drilling permits allowed is more costly. Fossil fuels are our lifeblood. And Progs are executioners.

We don't buy much from OPEC. Most US imports come Venezuela, Mexico and Canada. Of course Trump placed sanctions on Venezuela so we started buying a lot more oil from Russia.

Keystone XL would benefit Chinese owners of Canadian tarsands. The tarsands would be refined in the Free Trade Zone for export only. There's no benefit to US consumers or taxpayers.

The whole thing is a boondoggle including the lies about thousands of jobs.

 

[surada]

It was at 724M back in 2009. That’s not relevant to when Biden took office. 638M in Jan of 2021, 609M in nov of 2021, 348M now.

I’m concerned about the Biden release because he drained the reserve by 43%, and said he would replenish at $70, but when $60 came around, he held off and didn’t fill it back up.

Look, as long as the US has enough to keep us afloat, im fine, but we currently use 20M per day, and have the ability to only extract about 4.4M per day from the reserves, which means if there is an oil crisis, we have a big deficit to overcome. 80 days currently is what we can get from pumping 4.4M per day. We need to increase spr capacity, and the ability to extract as much as we need per day to set us up in case there is ever a crisis, or we need an increased production from the spr to offset.

Personally, I’d say build a few more refineries and allow our oil producers to ramp up production so we are not so dependent on foreign oil.

If the price stays high we probably will have more production and new refineries.

US oil production costs are the highest in the world.

 

[The Duke]

We don't buy much from OPEC. Most US imports come Venezuela, Mexico and Canada. Of course Trump placed sanctions on Venezuela so we started buying a lot more oil from Russia.

Keystone XL would benefit Chinese owners of Canadian tarsands. The tarsands would be refined in the Free Trade Zone for export only. There's no benefit to US consumers or taxpayers.

The whole thing is a boondoggle including the lies about thousands of jobs.

Except for the jobs at the pipeline end and maintenance jobs, huh?

Derp!