To all you pro oil folks out there.

[eagle1462010]

Corporations don't respond to pleading by politicians.

They buy politicians

 

[BlindBoo]

/----/ Commies slaughtered whales by the tens of thousands so they could burn the oil in their lamps. They also murdered trees to burn in their fireplaces.

They murdered the trees to build the ships they used to slaughtered the whales. FughingCommies!

 

[KissMy]

Indies are drilling all they can; the big boys aren't.

Guess which of the two demographics controls the most leases, rigs, and refineries?

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.

 

[BlindBoo]

Corporations don't respond to pleading by politicians.

All depends on how you ask.

"In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters."

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal

www.reuters.com

 

[BlindBoo]

What "firesale" of leases?

Trump’s Fire Sale of Public Lands for Oil and Gas Drillers

The Bureau of Land Management is rushing to auction off sites ahead of a potential Biden presidency.

newrepublic.com

On Tuesday, the Bureau of Land Management auctioned off oil and gas leases to 11 parcels of land totaling around 15,000 acres in Nevada. It’s the latest event in a troubling trend in the Trump administration: Much as the Environmental Protection Agency has been in a mad dash to peel back environmental regulations in the lead-up to November’s election, the Department of the Interior now seems to be embarking on a fire sale of public lands to oil and gas drillers in advance of a potential Democratic administration.

Cheap leases are some of the many subsidies the federal government furnishes to fossil fuel producers. The Trump administration in recent months has been especially eager to accelerate drilling by offering up federal land to fossil fuel companies at a bargain.

 

[YoursTruly]

Man. You spin faster than a millisecond pulsar.

Millisecond pulsar - Wikipedia

en.wikipedia.org

With gas prices going up 3-5 cents on the dollar EACH DAY, Biden isn't doing jackshit. Sorry.

So what. If you're pro big oil, you should be celebrating. They can never get enough profit, right? They need that money to explore and drill baby drill.

Over 9000 drilling permits issued since April of last year, the question remains, why aren't the drilling? Why aren't they turning up the spigot?

Answer, because OPEC is also in their bust cycle. US oil and OPEC do their bust cycles simultaneously.

 

[YoursTruly]

Pretty sure working folks don't give two shits about oil company profits. Never have, never will.

However, they get a little pissed when it costs them $100 to fill up their Toyota, Dumbass.

Good luck in November when gas prices are avg around $6-$7 a gallon.

I've never voted for a democrat. Never will. It's been 10 years since I've voted GOP.

 

[KissMy]

All around NE Colorado all of the pump jack nodding donkeys have been idled for over a year. Why on earth would they not be running full output when the oil prices are near their highest?

 

[Cellblock2429]

Yup - Look at all that Natural Gas they Flare BURN OFF in the BAKKEN fields because they want to keep prices high on US citizens.

/-----/ 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.”

 

[Lesh]

The price before COVID ranged from $2.09 to $2.88. That's less than half of what we're paying now.

It went through the floor as of March and stayed low until the economy began recovering

Ukraine made it jump up after that

 

[Lesh]

All around NE Colorado all of the pump jack nodding donkeys have been idled for over a year. Why on earth would they not be running full output when the oil prices are near their highest?

Keeping profits high

 

[Sandisk]

Man. You spin faster than a millisecond pulsar.

Millisecond pulsar - Wikipedia

en.wikipedia.org

With gas prices going up 3-5 cents on the dollar EACH DAY, Biden isn't doing jackshit. Sorry.

And what EXACTLY do you want him to do about it?

Me?
I don't want him doing ANYTHING about it.
Because, unlike you apparently, I HATE, big government.

And his stupid move embargoing Russia helped make the already high oil prices, MUCH higher.

Check out OIL's stock price (@CL.1) in real time

Get WTI Crude (Apr'23) (@CL.1:New York Mercantile Exchange) real-time stock quotes, news, price and financial information from CNBC.

www.cnbc.com

And the more Biden/Trump/Obama/Congress/Fed/etc. keeps their hands OFF of the economy...the better.

 

[LaDairis]

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.

Those are his pals, the billionaire Zionist Jews who own the oil industry....


W lover Jerry Jones is one...


They were all for this too...

What on Earth Would Prompt a Newspaper Editor to Call for Obama's Assassination?

It's unclear if he was being satirical or just insensitive, but Atlanta Jewish Times owner and publisher Andrew Adler more or less called for President Obama's assassination in his column last week.

www.theatlantic.com

Three, give the go-ahead for U.S.-based Mossad agents to take out a president deemed unfriendly to Israel in order for the current vice president to take his place, and forcefully dictate that the United States' policy includes its helping the Jewish state obliterate its enemies.

 

[there4eyeM]

They buy politicians

...and companies earning hundreds of dollars net profit per second can afford lots of politicians.

 

[YoursTruly]

Soooooo, you're saying Biden and big oil are in bed together?

No, although it does seem that way. Oil companies get to drastically reduce their overhead, make hundreds of billions in profits, and Biden get's the blame.

If they weren't issued over 9000 DRILLING permits in the last year, I'd say Biden was dead set against big oil. But if you're against something, and have the power to do hurt them, you hurt them financially.
But Biden is just the president. He doesn't have that much power.

 

[Sandisk]

It went through the floor as of March and stayed low until the economy began recovering

Ukraine made it jump up after that

You facts are erroneous.

The price of oil was going up - sharply - BEFORE Ukraine.
It went from $65 in December.
To $92 on the eve of the Ukraine invasion.

Check out OIL's stock price (@CL.1) in real time

Get WTI Crude (Apr'23) (@CL.1:New York Mercantile Exchange) real-time stock quotes, news, price and financial information from CNBC.

www.cnbc.com

 

[YoursTruly]

Little overhead?

Maybe you can share your definition of overhead?

When the bust cycle started, the oil companies and their contractors (drillers, pipeliners, Xray techs, geologist) all get laid off. This is common in the oil field. In fact those folks I listed, joke about buying fancy stuff, then having to sell it every 5 years.
When the boom cycle starts back up, all those on lay off will go back into the oil fields again.

 

[YoursTruly]

I just want Americans to have lower gas prices. Push policies that make US less dependent on foreign oil. How does that make me pro oil?

Why do we not want foreign oil? Because we were at the mercy of OPEC. When OPEC went through their bust cycle, gas prices spiked. So we had this idea that if American oil companies could find and produce more, that they'd all be our friends and we'd never have to pay the spiked OPEC prices.
Well, seems the US oil companies are following OPEC's lead by initiating their bust cycles. They've been doing it since I can remember.
Why? Because it works. Their record profits prove it.
We're just their customers, bro. Not their friends. They could give two shits about how much it hurts us financially. And neither could Biden.

Biden should open up all the leases and the XL, and force the oil companies to put up or shut up.

 

[YoursTruly]

Bullshit. Oil companies in this country are sitting on their hands due to regulations and permits of the O'biden admin. The Arab countries are making a bundle though. It is a supply and demand issue that determines the price. And Biden has caused a universal shortage. We are gas and oil starved, which is a shame because American oil is the cleanest and the most safely produced in the world.

That's what I used to think. But the fact is, the oil companies are sitting on unused DRILLING permits. (Not exploration permits). <<< Key word, "Unused."

Make no mistake about it. Biden is a moron for pulling those leases and shutting down the XL. That started the tiff between him and big oil. But it only gave them a reason to start their bust cycle.
NOTE: You think it's a coincidence that OPEC started their bust cycle at the same time? They also cut production.

 

[YoursTruly]

Obama must have been very sad about that.

When Biden took office there was only 287 US oil drilling rigs operating, rising every month to 574 currently. US oil refinery inputs & outputs have been rising every week.

Biden is awesome!
What regulatory change or new legislation did he use to increase the number of rigs?

No regulatory changes were made in the "drilling permit" process. One of the regulations that Trump got reduced, was the amount of time it took to get a permit, is still in effect.
Used to be, before Trump, it was 5 to 7 years. Trump got it down to 2 to 3 years. And it's still 2 to 3 years.