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The point is that we are pumping and refining oil at enormous rates
Biden has issued thousands of oil leases for Federal lands.
HE...is not why the price of gas is up.
The Saudis have cut back production and Putin is selling his oil only to China.
THAT is why the price is high
It's a huge industry and it runs the world. We are in the petroleum age. Most all the big oil companies are multi-national corporations who have little loyalty to US citizens, only to their pocketbook.
Hard to believe it took Big Oil this long to realize the way to get you to suck their dicks was to increase oil drilling under a DemoKKKrat president.
You're not worried about fossil fuels causing "global warming" anymore, are you, cultist?
LOL
That can't be true. Didn't Biden destroyed the US Oil Patch? Just listen to any Neo Republican. That Talking Point was set in stone the day he took office, and they still believe it.
Their profit margin is about 7% for the past 50 years.
Trump Bankrupted Over 100 oil and gas companies. Trump crushed US oil production from 13.1 million b/d down to 9.7 million b/d before he was voted out of office. Biden has brought US oil production back to new record highs on federal lands. US oil production is now above 12.8 million b/d and climbing rapidly.
See? It wont matter. Saul Biden's fault in the eyes of the Neo-GOP. They'll scream "That was Covid" But then ignore the effect Covid and the world's response to it, had on the economies of everyone.....and say it's Saul Biden.......Trump Bankrupted Over 100 oil and gas companies. Trump crushed US oil production from 13.1 million b/d down to 9.7 million b/d before he was voted out of office. Biden has brought US oil production back to new record highs on federal lands. US oil production is now above 12.8 million b/d and climbing rapidly.
Damn you're stupid. Try looking at actual facts.
Well, we use approximately 20M bbl/day, we currently produce about 13M bbl/day, so we’re at a 7M bbl/day deficit. We import about 8M bbl/day but we export almost 10M bbl/day, so we’re at a 2M bbl/day deficit there as well.You know when we subtract the exports from the imports, when we get a negative number, that means we were energy independent over that period of time. For example our net imports for the week ending Aug. 18th it was -1.5. Furthermore, we have been energy independent for most of 2023.
Texas. Not really. Texas gets a lot of heavy crude imported to refine and ships a lot of light Texas crude to the East Coast for refining.
Most of the US oil is produced on private lands and we haven't produced enough to meet domestic demand for over a half a century. They did once upon a time outlaw exporting most crude oil. That led to record breaking imports until the two sides compromised and started allowed exports.
I posted this for g5000 but it appears you need personal attention.The point is that we are pumping and refining oil at enormous rates
Biden has issued thousands of oil leases for Federal lands.
HE...is not why the price of gas is up.
The Saudis have cut back production and Putin is selling his oil only to China.
THAT is why the price is high
We're not energy independent as long as we are fleecing American citizens. I believe gas goes for mere pennies in SA...You know when we subtract the exports from the imports, when we get a negative number, that means we were energy independent over that period of time. For example our net imports for the week ending Aug. 18th it was -1.5. Furthermore, we have been energy independent for most of 2023.
Well, we use approximately 20M bbl/day, we currently produce about 13M bbl/day, so we’re at a 7M bbl/day deficit. We import about 8M bbl/day but we export almost 10M bbl/day, so we’re at a 2M bbl/day deficit there as well.
So overall, we’re at a 9M bbl/day deficit…I’m not even sure how those numbers work. We use 20M bbl/day, but only have about 11M bbl/day available…how is that even possible? Where is the rest of the oil coming from? Or are my numbers wrong?
We're not energy independent as long as we are fleecing American citizens. I believe gas goes for mere pennies in SA...
Jo
Saudi...kiddo, Saudi....I don't know anything about the price of gas in South Africa.
Saudi...kiddo, Saudi....
That depends on the well, a shale formation that is starting to fall into reduced production can be reenergized by frack stimulation.Because most wells produce less than 50 barrels a day. They can't afford gas injection, fracking or pipelines for every small well.
We're importing oil from Canada, Mexico, Venezuela... and after Trump's sanctions.. from Russia.
Where did you get 10 million bpd for export?
The numbers are what they are. I suspect they keep the stock they use for exported refined product off the import totals 12.8 mbd + 2.1 mdb is only 14.9 But we exported net of 3.7 mbd of refined product.Well, we use approximately 20M bbl/day, we currently produce about 13M bbl/day, so we’re at a 7M bbl/day deficit. We import about 8M bbl/day but we export almost 10M bbl/day, so we’re at a 2M bbl/day deficit there as well.
So overall, we’re at a 9M bbl/day deficit…I’m not even sure how those numbers work. We use 20M bbl/day, but only have about 11M bbl/day available…how is that even possible? Where is the rest of the oil coming from? Or are my numbers wrong?
That depends on the well, a shake formation that is starting to fall into reduced production can be reenergized by frack stimulation.
However, my point was not on existing wells, but rather new wells. Most companies are wanting to employ the latest and greatest technology if it means higher yield.
Also, just because a well only produces 50 bbl/day isn’t necessarily a bad thing. When I worked in south Texas, there were leases that were drilled back in the 60’s that are still producing oil to this day.
