Trump's win pushes OPEC to cut production

[guno]

Pay up at the pump rubes $$$$$$$$$$$$$$$


The election of Donald Trump to the presidency gives OPEC members another reason to agree to oil production cuts when they meet next week, says Bank of America Merrill Lynch's head of global commodities and derivatives research.

Saudi Arabia is trying to guide OPEC members toward a deal to cut production by 4 to 4.5 percent, in a bid to balance global supply and perhaps boost oil prices by about $10 a barrel.


Trump's win is going to push OPEC to cut output, says BofA's commodities chief

 

[beagle9]

We just got through showing that sector what our response to their bull crap was before when the prices went crazy, and they know we can easily do it again. We won't see prices like we saw before, and even Obama knows this much. What part don't you get about America is not a dependent country ?? Our resources are vast and sustainable. Now if the world wants to be a part of our success, then they best switch gears into work honestly with us mode or be left out. America First !!!

 

[initforme]

So we will pay more at the pump....I personally would lime to see oil bottom out at 5 bucks a barrel. No such luck. Getting screwed by big oil once again.

 

[william the wie]

Guno the breakeven price for most operating wells with pipeline access to a refinery is less than $30/bbl in the US with pipeline build out even just giving the go ahead for keystone will make the US the world's swing producer. We've got one LNG plant in production and two awaiting approval. Have you ever read the business section in a paper or online?

 

[beagle9]

Guno the breakeven price for most operating wells with pipeline access to a refinery is less than $30/bbl in the US with pipeline build out even just giving the go ahead for keystone will make the US the world's swing producer. We've got one LNG plant in production and two awaiting approval. Have you ever read the business section in a paper or online?

. He wishes for our failure, that's all his butt hurt is about.

 

[S.J.]

Your celebrating is gonna be short lived, guno. Trump has already announced his intentions to open up off shore drilling, which will reduce our need for OPEC. Then there's the pipeline...

 

[Toro]

Yeah ...

I wouldn't believe much of anything when OPEC says they are going to cut production for any reason.

OPEC keeps saying they are going to cut production to jawbone the market up, then produces full bore.

So this is another just excuse for their pretend production cut that almost certainly won't happen.

 

[william the wie]

Yeah ...

I wouldn't believe much of anything when OPEC says they are going to cut production for any reason.

OPEC keeps saying they are going to cut production to jawbone the market up, then produces full bore.

So this is another just excuse for their pretend production cut that almost certainly won't happen.

But no one is going to listen to the voice of reason unless they agree with you or are willing to learn. SDRL and RIG have been going crazy lately.

 

[Pogo]

Your celebrating is gonna be short lived, guno. Trump has already announced his intentions to open up off shore drilling, which will reduce our need for OPEC. Then there's the pipeline...

Ummmmmmmm.... all the pipeline does is grease the track for oil from Canada, Skippy. Not ours. And then it goes to Houston, and then it goes on ships, and then it goes bye-bye. The only beneficiary is Big Oil.

And OCS, even if that's done would (a) amount to literally pocket change difference in a barrel price, which OPEC shrugs and adjusts to and then goes to lunch, and (b) takes over 20 years to put into the stream, considering that extra refineries and equipment to get it done don't currently exist, and that it's a fungible commodity anyway that goes to that same international market those ships from the Houston pipeline just went to, and not to the pump in Dubuque.

That about it?

 

[S.J.]

Your celebrating is gonna be short lived, guno. Trump has already announced his intentions to open up off shore drilling, which will reduce our need for OPEC. Then there's the pipeline...

Ummmmmmmm.... all the pipeline does is grease the track for oil from Canada, Skippy. Not ours. And then it goes to Houston, and then it goes on ships, and then it goes bye-bye. The only beneficiary is Big Oil.

And OCS, even if that's done would (a) amount to literally pocket change difference in a barrel price, which OPEC shrugs and adjusts to and then goes to lunch, and (b) takes over 20 years to put into the stream, considering that extra refineries and equipment to get it done don't currently exist, and that it's a fungible commodity anyway that goes to that same international market those ships from the Houston pipeline just went to, and not to the pump in Dubuque.

That about it?

The OP is about OPEC cutting production. Guno thinks that's gonna drive prices up. Putting more oil on the market will offset that. I never said we would keep all the oil we drill. If you spent less time trolling and more time thinking, you might have something to contribute to these conversations, chief.

 

[S.J.]

OPEC did this when Carter was president and it was effective. Once Reagan took over, unlike Carter, he allowed OUR companies to explore for more oil and the only ones who ended up suffering were the OPEC companies. Gas prices at the pump collapsed.

 

[Pogo]

Your celebrating is gonna be short lived, guno. Trump has already announced his intentions to open up off shore drilling, which will reduce our need for OPEC. Then there's the pipeline...

Ummmmmmmm.... all the pipeline does is grease the track for oil from Canada, Skippy. Not ours. And then it goes to Houston, and then it goes on ships, and then it goes bye-bye. The only beneficiary is Big Oil.

And OCS, even if that's done would (a) amount to literally pocket change difference in a barrel price, which OPEC shrugs and adjusts to and then goes to lunch, and (b) takes over 20 years to put into the stream, considering that extra refineries and equipment to get it done don't currently exist, and that it's a fungible commodity anyway that goes to that same international market those ships from the Houston pipeline just went to, and not to the pump in Dubuque.

That about it?

The OP is about OPEC cutting production. Guno thinks that's gonna drive prices up. Putting more oil on the market will offset that. I never said we would keep all the oil we drill. If you spent less time trolling and more time thinking, you might have something to contribute to these conversations, chief.

.
I didn't either. In fact I just directly pointed out that we don't, that it's a fungible, international commodity which is out of our control once it's in that system, and there's precious little a POTUS can do about that anyway. Perhaps you should actually read the post.

 

[william the wie]

Trans-Canada/Keystone had to make a lot of concessions to get the right to build the pipeline because there is no means of transport to the Canadian coasts after some major spills up north and all of the pipeline routes have been blocked by the first nations. so yeah, it primarily benefits US fields. And by the way the oil/tar refinery deal went to the Koch brothers. But other than that POGO you are spot on.

 

[beagle9]

Your celebrating is gonna be short lived, guno. Trump has already announced his intentions to open up off shore drilling, which will reduce our need for OPEC. Then there's the pipeline...

Ummmmmmmm.... all the pipeline does is grease the track for oil from Canada, Skippy. Not ours. And then it goes to Houston, and then it goes on ships, and then it goes bye-bye. The only beneficiary is Big Oil.

And OCS, even if that's done would (a) amount to literally pocket change difference in a barrel price, which OPEC shrugs and adjusts to and then goes to lunch, and (b) takes over 20 years to put into the stream, considering that extra refineries and equipment to get it done don't currently exist, and that it's a fungible commodity anyway that goes to that same international market those ships from the Houston pipeline just went to, and not to the pump in Dubuque.

That about it?

. Ummm, were you absent when Trump won the election ?? America First... Remember??

 

[2aguy]

Pay up at the pump rubes $$$$$$$$$$$$$$$


The election of Donald Trump to the presidency gives OPEC members another reason to agree to oil production cuts when they meet next week, says Bank of America Merrill Lynch's head of global commodities and derivatives research.

Saudi Arabia is trying to guide OPEC members toward a deal to cut production by 4 to 4.5 percent, in a bid to balance global supply and perhaps boost oil prices by about $10 a barrel.


Trump's win is going to push OPEC to cut output, says BofA's commodities chief

Moron...frakking has already lowered our gas prices....and with Trump allowing the pipeline and allowing Frakking, actively supporting it....the Saudis and other terrorist supporters can drown in their own oil....and the new huge coal find in Texas means we are will likely become energy independent inside of Trumps 8 years.......

 

[2aguy]

And you don't think Trump will leverage the iranian threat to Saudi to get them to play nice with their oil.....? Since they can't defend themselves....you guys are truly twits....

 

[S.J.]

Your celebrating is gonna be short lived, guno. Trump has already announced his intentions to open up off shore drilling, which will reduce our need for OPEC. Then there's the pipeline...

Ummmmmmmm.... all the pipeline does is grease the track for oil from Canada, Skippy. Not ours. And then it goes to Houston, and then it goes on ships, and then it goes bye-bye. The only beneficiary is Big Oil.

And OCS, even if that's done would (a) amount to literally pocket change difference in a barrel price, which OPEC shrugs and adjusts to and then goes to lunch, and (b) takes over 20 years to put into the stream, considering that extra refineries and equipment to get it done don't currently exist, and that it's a fungible commodity anyway that goes to that same international market those ships from the Houston pipeline just went to, and not to the pump in Dubuque.

That about it?

The OP is about OPEC cutting production. Guno thinks that's gonna drive prices up. Putting more oil on the market will offset that. I never said we would keep all the oil we drill. If you spent less time trolling and more time thinking, you might have something to contribute to these conversations, chief.

.
I didn't either. In fact I just directly pointed out that we don't, that it's a fungible, international commodity which is out of our control once it's in that system, and there's precious little a POTUS can do about that anyway. Perhaps you should actually read the post.

No, chief, YOU should read the post. MORE OIL ON THE MARKET MEANS LOWER PRICES. It doesn't matter who puts it out there. If OPEC wants to cut production to drive prices higher (like they've done many times before), let them. Our companies will pick up the slack and make the money instead, plus provide more jobs for Americans to boot. This wasn't possible under Obama because he banned off shore drilling so his muslim brothers in the ME could rip us off. Trump will change that in short order and OPEC will be begging us to buy their oil at a lower price, just like they did in the 80's when Reagan deregulated oil and gave our companies the green light to start drilling again.

 

[EverCurious]

I know it's a bit against the grain, but \o/ YAY! Alaska sure could use a price hike on oil (Our state makes a profit on the sale same as the oil companies do heh)

 

[August West]

OPEC did this when Carter was president and it was effective. Once Reagan took over, unlike Carter, he allowed OUR companies to explore for more oil and the only ones who ended up suffering were the OPEC companies. Gas prices at the pump collapsed.

Gas prices collapsed...along with the stock market.

 

[blastoff]

Your celebrating is gonna be short lived, guno. Trump has already announced his intentions to open up off shore drilling, which will reduce our need for OPEC. Then there's the pipeline...

Not to mention sticking it up the EPA's ass and building more refineries to process the crude.

The lefty dopes want to keep us dependent on foreign oil. Thank God there's a new sheriff on his way to Washington! Bend over, lefties, it's gonna hurt.