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I think you dont understand the oil market or American consumersYall need to stop complaining about Biden and what you think he's done to increased gas prices. Biden is doing the oil companies a favor. Record profits with little overhead.
So if you're going to continue to be pro big oil, yall need to stop complaining about the price. It's a free market economy, and if the oil companies get to make $100 billion just in the 1st quarter, then you should all be proud. In fact, I'd advise you all to buy extra gas cans and fill them all up. Buy it and give it away to those who can't afford it.
You know, just to show your support for big oil.
Production was cut world wide before President Biden took office. The price increases is a result of the world getting back to work and OPEC and the oil producing nations not keeping up with the rising demand for several reasons. The least of which is a cancelled leg of the Keystone pipeline system. The failure is on Trump for not being able to negotiate legislation with Congress, and used an EO that could be reversed just as easily.
I would say it effected the markets much more than the lease pause and cancellation of the XL extension combined. Mostly late January and early February as the price closed in on 100 dollars a barrel.
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Oil hits 7-yr highs as market fears Russian attack on Ukraine imminent
Oil prices surged over 2% on Monday to their highest in more than seven years as Ukraine's president declared a "day of unity" for Feb. 16, a date that some Western media have cited as a possible start of a Russian invasion.www.reuters.com
There are 178 million acres in Texas and the state owns just 18 million of them that it can collect royalties onThe shills and morons won't admit that oil and gas production on Federal lands that was supposedly shut down only accounts for some 6% to 8% of U.S. production. And, the prices those leases go for are a scandal in themselves with the minimum at $2 an acre and a max of $46 an acre. Ridiculously low. Of course the API, the oil industry fake data and PR outlet, will lie and claim otherwise.
Rates for state lands; even Texas gets almost twice what the Feds lease for in royalties, and the oil millionaires own this state.
That's not where I quoted Trump from. He said the quotes on CNBC to their hosts. Trump had them edit it from the excerpts on their website, but occasionally a recording of the actual live on air interview I saw on CNBC gets posted on youtube until Trump uses copyright law to remove them. NBC had broadcast contracts with Trump when he said this prior to taking office./-----/ Trump: "I'm the king of debt."
Why did you feel the need to quote Trump out of context? Here is the entire quote: “I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”
What the fuck are you talking about?Russia didn't invade Ukraine until February 24th. Are you thinking? In January oil markets were responding to a surge in demand.
I think you dont understand the oil market or American consumers
We dont exist to make money for oil companies or to give neo-fascist greenies more government power
Since biden is on record as wanting to destroy fossil fuel he cant detach himself from rising gas prices at the pump
Yup! The majors are choking off oil supply, using the enormous profits buying back stock, paying shareholders which they all are.
Jeff Ritenour, Chief Financial Officer at Devon Energy, described at CERA week a “fundamental shift” that his business made to use profits to pay down debt, provide a reliable dividend to shareholders and buy back shares. In order to do that, the company has maintained a “low reinvestment ratio”—meaning it limits its investment in new production. Similar approaches have played out at firms across the industry and made “capital discipline” industry orthodoxy.
Biden has great influence if not absolute controlPoliticians going on the record for saying things they have not control over.
Middle East crude is dirty, heavy, sour oil that is expensive to refine yielding poor crack spread. Same as Canadian Tar Sands oil they wanted to send through the Keystone XL Pipeline.OPEC is always cheaper than US oil. Our lift costs are high. Trump sanctioned Venezuela in 2017. And we haven't been KSA's primary market in 15 years. You just don't know anything about the oil business.
and shutting down the XL.
All true, but of course there was justification for the increase. Sacred profits, dontchano.There was a massive glut, criminal waste, and tankers waiting at Port Arthur that had no storage space to unload. A slight upturn in demand and they have their pet morons running around screaming "BIDEN !!!! BIDEN!!!! BIDEN!!!" like lunatic parrots. Never mind there is zero justification for the price increases.
There are 178 million acres in Texas and the state owns just 18 million of them that it can collect royalties on
Thats about 1%
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Gas prices have more than DOUBLED since Joe Biden was elected, YoursTruly! Why should people not be pissed about what you liberals have done? This wasn't some random thing...this was done deliberately by the progressive wing of the Democratic Party starting on day one of the Biden Administration! You WANTED this price increase...now you need to accept responsibility for what it's doing to the poor and Middle Class all across the country!Yall need to stop complaining about Biden and what you think he's done to increased gas prices. Biden is doing the oil companies a favor. Record profits with little overhead.
So if you're going to continue to be pro big oil, yall need to stop complaining about the price. It's a free market economy, and if the oil companies get to make $100 billion just in the 1st quarter, then you should all be proud. In fact, I'd advise you all to buy extra gas cans and fill them all up. Buy it and give it away to those who can't afford it.
You know, just to show your support for big oil.
What the fuck are you talking about?
I am not talking about ANYTHING but the fact that oil price rises in January had little/NOTHING to do with the February Ukraine invasion.
I agree with most of that except that they did not start using it as an excuse until after January.Because Russia is a global supplier of oil, the market used this as an excuse to increase ppb prices. So yeah, the Russian/Ukraine thing had a lot to do with increases in prices. BUT ONLY because oil companies used stock prices as an excuse. US oil companies don't have to use the stock price as an excuse. Since they and the land owners have a deal worked out prior to drilling. The stock prices are set in the contracts so that they can profit more when the stock prices increase.
I’m not sure ultra leftwing UT spends the money wisely, but at least it goes for what libs loosely define as “education”And? They get massive royalties off of theirs, as do the land grant universities and school funds. The used to own a lot more, but a lot of the fields played out a long time ago and were sold off. UT's endowment alone is one of the biggest in the country; only Harvard's is larger.
Top 5 Largest University Endowments
The five largest university endowments in the world are Harvard, Yale, University of Texas, Princeton, and Stanfordwww.investopedia.com
Gas prices have more than DOUBLED since Joe Biden was elected, YoursTruly! Why should people not be pissed about what you liberals have done? This wasn't some random thing...this was done deliberately by the progressive wing of the Democratic Party starting on day one of the Biden Administration! You WANTED this price increase...now you need to accept responsibility for what it's doing to the poor and Middle Class all across the country!
I’m not sure ultra leftwing UT spends the money wisely but at least it goes for what libs loosely define as “education”
