To all you pro oil folks out there.

[BlindBoo]

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

You mean while over a hundred thousand Russian troops amassed on the Ukraine's borders, oil prices rose?

In reality oil had already hit high numbers in Oct and had fallen by Dec., before the buildup began.

Cushing, OK WTI Spot Price FOB (Dollars per Barrel)

www.eia.gov

 

[YoursTruly]

This is from Fox Business.

Trump plays key role in brokering historic oil deal
Published April 13, 2020
President Trump played a key role in the historic agreement between the world’s largest oil producers that trims global production by nearly 10 percent, according to Energy Secretary Dan Brouillette.

The deal reached by the so-called OPEC+ group, which ends the price war between Saudi Arabia and Russia, reduces global output by 9.7 million barrels per day in May and June, helping to ease a global gut exacerbated by the COVID-19 pandemic.

Production will also be reduced by 8 million bpd from July through December and 6 million bpd from January 2021 through April 2022.

 

[YoursTruly]

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?

If they produced more oil, the prices would come down.

 

[surada]

When you attack our oil and gas industry, then go on the world stage to beg OPEC and Venezuela to pick up the slack and get the middle finger from them, yes he does impact prices worldwide.

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.

 

[surada]

This is from Fox Business.

Trump plays key role in brokering historic oil deal
Published April 13, 2020
President Trump played a key role in the historic agreement between the world’s largest oil producers that trims global production by nearly 10 percent, according to Energy Secretary Dan Brouillette.

The deal reached by the so-called OPEC+ group, which ends the price war between Saudi Arabia and Russia, reduces global output by 9.7 million barrels per day in May and June, helping to ease a global gut exacerbated by the COVID-19 pandemic.

Production will also be reduced by 8 million bpd from July through December and 6 million bpd from January 2021 through April 2022.

Yeah... And we dramatically increased Russian imports in 2017 after Trump sanctioned Venezuela.

 

[Sandisk]

You mean while over a hundred thousand Russian troops amassed on the Ukraine's borders, oil prices rose?

In reality oil had already hit high numbers in Oct and had fallen by Dec., before the buildup began.

Cushing, OK WTI Spot Price FOB (Dollars per Barrel)

www.eia.gov

Yes.

Now answer my questions.

1) here is the IEA oil market report for January of 2022.

Oil Market Report - January 2022 – Analysis - IEA

Oil Market Report - January 2022 - Analysis and key findings. A report by the International Energy Agency.

www.iea.org

Is Ukraine even mentioned in the entire report?
Yes or no, please?

2) yes or no, please?
Are you saying that oil prices rose from December-late January primarily because of Russian invasion fears?

Historical Inflation Rates: 1914-2024

The table displays historical inflation rates with annual figures from 1914 to the present. These inflation rates are calculated using the Consumer Price Index, which is published monthly by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor. The latest BLS data, covering up to...

www.usinflationcalculator.com

Yes or no, please?

 

[KissMy]

If they produced more oil, the prices would come down.

Yup!

Right across the border in Kansas every nodding donkey oil pump-jack I saw from I-70 was running full output. Plus all of those thousands of wind turbines were spinning.

It's amazing when I crossed into Colorado, went to Denver & up to Wyoming looking at hundreds of oil fields & not a single oil pump jack was nodding.

 

[surada]

Yes.

Now answer my questions.

1) here is the IEA oil market report for January of 2022.

Oil Market Report - January 2022 – Analysis - IEA

Oil Market Report - January 2022 - Analysis and key findings. A report by the International Energy Agency.

www.iea.org

Is Ukraine even mentioned in the entire report?
Yes or no, please?

2) yes or no, please?
Are you saying that oil prices rose from December-late January primarily because of Russian invasion fears?

Historical Inflation Rates: 1914-2024

The table displays historical inflation rates with annual figures from 1914 to the present. These inflation rates are calculated using the Consumer Price Index, which is published monthly by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor. The latest BLS data, covering up to...

www.usinflationcalculator.com

Yes or no, please?

Russia didn't invade Ukraine until February 24th. Are you thinking? In January oil markets were responding to a surge in demand.

 

[YoursTruly]

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.

I know about our oil business. Trade relations and sanctions are for the politicians.

 

[surada]

Yup!

Right across the border in Kansas every nodding donkey oil pump-jack I saw from I-70 was running full output. Plus all of those thousands of windmills were spinning.

It's amazing when I crossed into Colorado, went to Denver & up to Wyoming looking at hundreds of oil fields & not a single oil pump jack was nodding.

Weird that the US still uses pump jacks instead of Christmas trees.

 

[surada]

I know about our oil business. Trade relations and sanctions are for the politicians.

Especially bully idiot politicians.

 

[there4eyeM]

What's weird is that people didn't learn from pervious oil problems that excessively heavy, uselessly powerful vehicles were not a sane choice.

 

[DudleySmith]

We pay the market price, nimrod, just like everyone else

lol yes the market price big oil colludes with each other to sell it at, nimrod. It's a great time to run around hidng price gouging under 'shortages' that either don't exist or are very short term. They have clueless libertoons and shills running around blaming some idiot politician for it all.

 

[DudleySmith]

What's weird is that people didn't learn from pervious oil problems that excessively heavy, uselessly powerful vehicles were not a sane choice.

They're the best choice overall, and soon will be powered by hydrogen and still using tried and true 'old' and well developed internal combustion technology. No need to subsidize scams like Tesla, wind, and solar fantasies.

 

[YoursTruly]

“Ultimately, companies have to make a decision to risk their capital… nobody knows how this episode is going to play out,” Mark Viviano, managing partner at Kimmeridge, a private equity firm focused on oil and gas, told a packed conference room on March 8. “I don’t think it’s realistic to think there’s going to be a collective industry response to this crisis. Unfortunately, it’s just not the way the industry is.”

Typically, a steep rise in oil prices would drive a steep uptick in drilling, but this time around may be different. Between June 2014 and July 2016, the U.S. benchmark price of a barrel of oil declined from more than $100 dollars to around $30. After the industry suffered huge losses in the years leading up to the COVID-19 pandemic, investors continue to prioritize safe profits.

So even though the Biden administration has enacted very few climate regulations on oil and gas, industry leaders say they continue to feel the climate pressure from investors. Getting more oil flowing requires capital and comes with high risks in a volatile oil market.

It's not as volatile as they make it out to be. They produce more, they have to charge less. Produce less, and can charge more.

People try to make this complicated, but it boils down to the same thing with every boom/bust cycle. They just use different excuses.

 

[YoursTruly]

Especially bully idiot politicians.

And those on the lobbyist dole.

 

[KissMy]

Weird that the US still uses pump jacks instead of Christmas trees.

There are many christmas tree oil pumps around also, but I can't tell if they were pumping while driving by.

 

[BlindBoo]

Yes.

Now answer my questions.

1) here is the IEA oil market report for January of 2022.

Oil Market Report - January 2022 – Analysis - IEA

Oil Market Report - January 2022 - Analysis and key findings. A report by the International Energy Agency.

www.iea.org

Is Ukraine even mentioned in the entire report?
Yes or no, please?

2) yes or no, please?
Are you saying that oil prices rose from December-late January primarily because of Russian invasion fears?

Historical Inflation Rates: 1914-2024

The table displays historical inflation rates with annual figures from 1914 to the present. These inflation rates are calculated using the Consumer Price Index, which is published monthly by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor. The latest BLS data, covering up to...

www.usinflationcalculator.com

Yes or no, please?

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.

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

 

[surada]

There are many christmas tree oil pumps around also, but I can't tell if they were pumping while driving by.

I have never seen a Christmas tree in the US. I'm not that knowledgeable about the US market.

 

[DudleySmith]

The 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.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjzkZCR3Zv4AhUqomoFHQCKDvYQFnoECAUQAQ&url=https%3A%2F%2Fwww.statetrustland.org%2Fuploads%2F1%2F2%2F0%2F9%2F120909261%2Findustry_trends_in_oil_and_gas_-_kvasnicka.pdf&usg=AOvVaw02mSOwhJxC__lyuqo6hjgr