"this is the dumbest damn thing i've ever heard of...you're gonna do business with Venezuela & Iran with Russia in the middle of it?" - Sen Blackburn

[martybegan]

The US oil companies aren't investing in additional capacity they are returning profits to shareholders....and they have some problems . There is a shortage of oil workers and truckers as well as a shortage of sand for the Permian basin shale producers.

And there are uncertainties in future recovery of investment due to the perceived hostility of the current administration, and any future Democrat administrations, to fossil fuel production.

Why invest in the future if you are worried the government or banks are going to deny you a future?

And since when is paying dividends something oil companies never do, and when does it preclude investment in future exploration and exploitation? Are you saying they are diverting all profit to dividends and investing nothing into future work?

 

[surada]

And there are uncertainties in future recovery of investment due to the perceived hostility of the current administration, and any future Democrat administrations, to fossil fuel production.

Why invest in the future if you are worried the government or banks are going to deny you a future?

And since when is paying dividends something oil companies never do, and when does it preclude investment in future exploration and exploitation? Are you saying they are diverting all profit to dividends and investing nothing into future work?

Lol. You are an idiot. The whole industry is coping with uncertainty, but they are smarter than to blame the government. Yes they are returning profits to shareholders for now. Do you know why you aren't an executive in the oil business? Do you understand why Rex tillerson called Trump a fucking moron?

 

[martybegan]

Lol. You are an idiot. The whole industry is coping with uncertainty, but they are smarter than to blame the government. Yes they are returning profits to shareholders for now. Do you know why you aren't an executive in the oil business?

Uncertainty created in part by government policy, as well as the banking policy I linked.

All well before Ukraine became a crisis.

Do you know why you are a progressive cuck-twat?

 

[surada]

Uncertainty created in part by government policy, as well as the banking policy I linked.

All well before Ukraine became a crisis.

Do you know why you are a progressive cuck-twat?

The uncertainty is caused by covid and the negotiations with Iran and Putin's aggression.if they can come to an agreement with Iran that will ease the supply shortage.

 

[martybegan]

The uncertainty is caused by covid and the negotiations with Iran and Putin's aggression.if they can come to an agreement with Iran that will ease the supply shortage.

Why agree with Iran when we could just ease restrictions on our own production?

Why do you prefer Iranians making money over Americans?

 

[Lisa558]

The uncertainty is caused by covid and the negotiations with Iran and Putin's aggression.if they can come to an agreement with Iran that will ease the supply shortage.

Why should we be forced to arrange a deal with the Islamic State of Iran for oil, or last I heard the dictator of Venezuela, when we have the capacity to produce what we need right here? Why is Biden beholding us to adversaries and dictatorial regimes?

 

[JohnDB]

At $200/bbl if the US oil companies can't make money they are in the wrong business.

It seems that they are trying to force Biden to reverse his crazy restrictive EOs before they produce more oil.

You really don't understand how oil is produced or how the land leases work. Biden first cancelled them but got reversed by SCOTUS. So Biden TRIPLED the cost of the leases which effectively did the same thing. (They are fighting it in court currently and will eventually win)
But any wells that were in process of being drilled or evaluated are kaput. All of the low producing wells are shut off and abandoned.
That is a huge amount of oil and natural gas that now got crushed. Lots of jobs surrounding it all just got evaporated as well. (Not all wells are connected to a pipeline)
The current prices of petroleum and natural gas is a direct result of Biden's executive orders...not one of those things hit congress whatsoever.
However after this fall I think those items are going to be an agenda item. So we might get some relief then from WTI prices.

 

[surada]

Why should we be forced to arrange a deal with the Islamic State of Iran for oil, or last I heard the dictator of Venezuela, when we have the capacity to produce what we need right here? Why is Biden beholding us to adversaries and dictatorial regimes?

Oil is fungible... And Iran has tremendous unused capacity to reduce the ppb. Or are Trump tantrums more important to you?

 

[JohnDB]

And there are uncertainties in future recovery of investment due to the perceived hostility of the current administration, and any future Democrat administrations, to fossil fuel production.

Why invest in the future if you are worried the government or banks are going to deny you a future?

And since when is paying dividends something oil companies never do, and when does it preclude investment in future exploration and exploitation? Are you saying they are diverting all profit to dividends and investing nothing into future work?

I got plenty of dividends from Energy Transfer. (ET....yeah they love to put up those memes)
They regularly pay some of the best dividends. 6% quarterly which when put on DRIP means about 8-10% annually. Which is about triple what growth stocks have done this quarter...they have all tanked about 20%.

 

[surada]

You really don't understand how oil is produced or how the land leases work. Biden first cancelled them but got reversed by SCOTUS. So Biden TRIPLED the cost of the leases which effectively did the same thing. (They are fighting it in court currently and will eventually win)
But any wells that were in process of being drilled or evaluated are kaput. All of the low producing wells are shut off and abandoned.
That is a huge amount of oil and natural gas that now got crushed. Lots of jobs surrounding it all just got evaporated as well. (Not all wells are connected to a pipeline)
The current prices of petroleum and natural gas is a direct result of Biden's executive orders...not one of those things hit congress whatsoever.
However after this fall I think those items are going to be an agenda item. So we might get some relief then from WTI prices.

Take a look at current US oil production. You might look at west Texas intermediate price.

 

[Flash]

This Russian invasion is like manna from heaven for the Democrats.

The stupid idiots have an agenda to make fossil fuel too expensive to use in order to kiss the ass of moronic Environmental Wackos. This invasion is driving up the cost to go along with the Democrats cutting American production and they couldn't be happier.

The only thing is that the mid terms are coming up and they know they will lose seats with the high cost of gas at the pumps. That is the reason Potatohead wants to get some temporary oil from Valenzuela, Iran and his Saudi buddies.

The real answer is do what Trump did and create American energy independence but the Democrats couldn't stand to do that. They want you to use solar cells to power your vehicle, heat your home and power your refrigerator. It will be a disaster but the Democrats don't give a shit. They know what is best for you.

 

[Lisa558]

Oil is fungible... And Iran has tremendous unused capacity to reduce the ppb. Or are Trump tantrums more important to you?

Doesn’t answer the question. Why are we indebting ourselves to a country that sponsors Islamic terrorists when we have the capacity to provide for ourselves?

And what’s with the dig about Trump? He had us in a position of being a net exporter of oil. Now with Biden, we’re scrounging around having to import it from lowlifes.

And who CARES if Iran has unused capacity. A fencing operation has all sorts of unbought goods, too…..doesn’t mean I will buy from them.

 

[JohnDB]

Doesn’t answer the question. Why are we indebting ourselves to a country that sponsors Islamic terrorists when we have the capacity to provide for ourselves?

And what’s with the dig about Trump? He had us in a position of being a net exporter of oil. Now with Biden, we’re scrounging around having to import it from lowlifes.

And who CARES if Iran has unused capacity. A fencing operation has all sorts of unbought goods, too…..doesn’t mean I will buy from them.

Now I agree that we don't want oil from Venezuela or Iran...
But when the American economy is going full steam we really can't produce enough oil for ourselves. (Actually net oil production because we use the full range of petroleum products and not all crude oil produces all petroleum products)

But the USA producing more oil is just one part of the equation. Saudis can produce more...so can the UAE. Actually the UAE can do a LOT more than they are.

The Pacific rim can cover a lot of the natural gas production after first turning it into LNG. But shipping is still in a high stress because of the lack of steel containers. There's some new oil and natural gas off the eastern coast of Africa...but it's at least 6 months out from being useful. But there's some new wells off the northern coast of South America that are just now coming online.

Then there's the turning of yellow coal into diesel. AKA "clean coal technology". We have literally hectares of that stuff in the way currently. It's not exactly the cleanest process with the waste products but it is a smaller footprint than the yellow coal has...which we can make more of.

There's ways to circumvent Russia. It's just against the Democrats wishes and financial benefits.

 

[imawhosure]

Now I agree that we don't want oil from Venezuela or Iran...
But when the American economy is going full steam we really can't produce enough oil for ourselves. (Actually net oil production because we use the full range of petroleum products and not all crude oil produces all petroleum products)

But the USA producing more oil is just one part of the equation. Saudis can produce more...so can the UAE. Actually the UAE can do a LOT more than they are.

The Pacific rim can cover a lot of the natural gas production after first turning it into LNG. But shipping is still in a high stress because of the lack of steel containers. There's some new oil and natural gas off the eastern coast of Africa...but it's at least 6 months out from being useful. But there's some new wells off the northern coast of South America that are just now coming online.

Then there's the turning of yellow coal into diesel. AKA "clean coal technology". We have literally hectares of that stuff in the way currently. It's not exactly the cleanest process with the waste products but it is a smaller footprint than the yellow coal has...which we can make more of.

There's ways to circumvent Russia. It's just against the Democrats wishes and financial benefits.

What John has said is basically true, and each person should read it carefully!

I am not going to lie to everyone and insist that Biden has caused 130.00 dollar barrel of oil and rising, but the actions he took 24 to 48hrs after taking office with EOs has helped this price hike to be much worse than it should be. Yes, Pooty is the main culprit for sure, but Biden and the enviros short sightedness added fuel to the proverbial fire. And here is the kicker--------->they won't reverse course, they would rather cut a deal with Americas enemies to please their enviro lobby in this country.

Couple of years ago, (maybe 2, 3 or 4) the point of profit for fracking domestic oil was 45 to 47 dollars per barrel. That is exactly why when oil dumped because of COVID, Trump had to try and get others to cut production to save the domestic oil industry. Regardless of if you think that was a good idea or not, that is what he did.

Bidens EOs caused the price to skyrocket for extraction, due to the cost of leases, rules and regulations. I have no idea what the break even point is now, but it is plain the energy sector is afraid with the cost, starting some of these places up would just be temporary as the price of oil fell below the new break even point for them, probably quickly once everyone knew we were serious, and started pumping to lower it to put them out of business.

For the talking point it is a shortage of workers, that is a lefts fantasy. How much would you rather make----------> 80 to 100 dollars an hr working a domestic oil drill, or 15 dollars an hr at Walmart, Kroeger, or some restaurant! The energy sector would pilfer workers at a tremendous rate. Remember when North Dakota had to import workers for Walmart and McDonalds at 20 bucks an hr because their workforce was all in domestic energy as it boomed!

John is also correct we need congress to address this and pass a law. We can't allow it be the whim of the President on which way energy ideas flow. This is why we MUST throw these clowns in congress out in November, then hold the new congress feet to the fire to pass such a law. And if Biden vetos it, then let the Democrats answer for it in 2024.

I don't consider it good news, but as middle class people who had disposable income to consume stuff to keep our economy going, now have to put that money in their gas tanks, watch what the economy does! For the average American, this is like having your taxes rise by 30 to 40 dollars a WEEK, and still going up. That is before you add on the price to now heat and cool your home. Were it the government doing that, (and in a sorta kinda roundabout way it is) how long do you think it would be before the economic numbers began to crumble?!?!?!?!

They gotta go in November folks, or we have no shot for the 2 years following!

 

[JohnDB]

What John has said is basically true, and each person should read it carefully!

I am not going to lie to everyone and insist that Biden has caused 130.00 dollar barrel of oil and rising, but the actions he took 24 to 48hrs after taking office with EOs has helped this price hike to be much worse than it should be. Yes, Pooty is the main culprit for sure, but Biden and the enviros short sightedness added fuel to the proverbial fire. And here is the kicker--------->they won't reverse course, they would rather cut a deal with Americas enemies to please their enviro lobby in this country.

Couple of years ago, (maybe 2, 3 or 4) the point of profit for fracking domestic oil was 45 to 47 dollars per barrel. That is exactly why when oil dumped because of COVID, Trump had to try and get others to cut production to save the domestic oil industry. Regardless of if you think that was a good idea or not, that is what he did.

Bidens EOs caused the price to skyrocket for extraction, due to the cost of leases, rules and regulations. I have no idea what the break even point is now, but it is plain the energy sector is afraid with the cost, starting some of these places up would just be temporary as the price of oil fell below the new break even point for them, probably quickly once everyone knew we were serious, and started pumping to lower it to put them out of business.

For the talking point it is a shortage of workers, that is a lefts fantasy. How much would you rather make----------> 80 to 100 dollars an hr working a domestic oil drill, or 15 dollars an hr at Walmart, Kroeger, or some restaurant! The energy sector would pilfer workers at a tremendous rate. Remember when North Dakota had to import workers for Walmart and McDonalds at 20 bucks an hr because their workforce was all in domestic energy as it boomed!

John is also correct we need congress to address this and pass a law. We can't allow it be the whim of the President on which way energy ideas flow. This is why we MUST throw these clowns in congress out in November, then hold the new congress feet to the fire to pass such a law. And if Biden vetos it, then let the Democrats answer for it in 2024.

I don't consider it good news, but as middle class people who had disposable income to consume stuff to keep our economy going, now have to put that money in their gas tanks, watch what the economy does! For the average American, this is like having your taxes rise by 30 to 40 dollars a WEEK, and still going up. That is before you add on the price to now heat and cool your home. Were it the government doing that, (and in a sorta kinda roundabout way it is) how long do you think it would be before the economic numbers began to crumble?!?!?!?!

They gotta go in November folks, or we have no shot for the 2 years following!

Nothing like confirmation from a secondary educated opinion.

 

[petro]

Shoot the damn Polar Bears and start drilling the Arctic.
Why are we protecting man eaters?