US Oil Rig Count has Doubled Under Biden

[surada]

Nor do you, darling. You could have had the same numbers as Biden coming out of the Pandemic shutdown. Don't be stupid.

70 years experience and I've made a lot of money.

 

[Rigby5]

Really?
Then why didn't Biden lower the price of oil when Saudi did this?

December 3 2022
Nearly two months after President Joe Biden vowed "there will be consequences" for Saudi Arabia’s actions to cut oil production, the U.S. is not actively considering any significant retaliatory actions against the kingdom, according to two U.S. officials.

U.S. and Saudi relations hit a low point after Saudi Arabia pushed OPEC members to cut oil production by 2 million barrels per day at their Oct. 6 meeting.


Sanctions are NOT illegal.
The U.S. , or any other country, can stop trading with anyone they want, at any time they want.

Biden can't legally lower what the Saudis or anyone else charges, but he did increase US oil exports, which is the WRONG way to cut oil prices.
Instead we should have just followed the law and stopped the illegal economic sanctions on Russian oil.

Economic sanctions are totally and completely illegal, violating the US constitution as well as the Geneva Conventions.
Obviously US economic sanctions take profits from US companies that used to do business with Russia, without compensation, in violation of the 4th amendment.
The 1906 Hague Conventions prohibited any economic sanctions or blockades of civilian commerce, and the US Congress ratified them into US law. They were eventually renamed into the Geneva Conventions.
Economic warfare is obviously illegal as well as immoral.

In a democratic republic, obviously the government has ZERO authority to have any say at all in what anyone wants to do economically.

 

[Meister]

You don't know what you're talking about. When did you become interested in the US Oil business? Trump is a liar and a braggart... and you're all in.

I'm heavily invested in that sector, darling.
Sorry to burst your bubble on that one.

 

[Orangecat]

US Oil Rig Count has Doubled Under Biden​

So have gas prices.

 

[Meister]

70 years experience and I've made a lot of money.

So? It doesn't change the facts.
I catch a lot of fish, does it change the facts?

 

[Billo_Really]

That's right, Biden has more than doubled the US oil rig count because energy companies are ramping up production big time under Biden.

Biden inherited an underproducing country from Trump, we only had a meager 287 oil rigs when Biden took over, not good.
Now we 623, more than double, thanks to Biden.
The US oil rig count is set to rise further, thanks to Biden and the US is also building solar and wind installations at a record pace, and the US is producing and exporting record amounts of Nat gas thanks to Biden.

Biden is the energy president, he has made the US the dominant energy producer AND exporter in the entire world. Doubling oil rigs, world leading Nat gas and exports, and ramping up renewable energy.

The US energy industry is better now than ever before thanks to Biden.

United States Baker Hughes Oil Rig Count

Get the U.S. Baker Hughes Oil Rig Count results in real time as they're announced and see the immediate global market impact.

www.investing.com

Fuckin' A right! Go big Joe, go big Joe!

 

[Aldo Raine]

As usual, republicans thought wrong..........again.
The U.S. will NEVER get rid of oil.
There are too many other items made from it, it would be a Herculean task.

Agreed, oil will not go away completely in a very long time. But as far as fuel for vehicles it will probably be dead in about 40-50 years. But yes it is involved with the production of sooooooo many products it will not disappear.

 

[Rigby5]

say what?

Biden approved significantly more drilling permits than Trump. Facts. Deal with it
The US oil rig count has more than doubled under Biden, the fastest pace in us history. Facts. Deal with it

The US is leading the world in Nat gas production and export deal with it.

Again, that is BAD.
The US has very LIMITED oil and natural gas resources, and the last thing we should then be doing is exporting them.
There is no reason to.
Saudi oil is cheap now, so we should be importing all of that we can, instead.

 

[surada]

So? It doesn't change the facts.
I catch a lot of fish, does it change the facts?

Most wells in the US produce less than 50 barrels a day so there are no economies of scale and we have the highest lift costs in the world.

 

[Rigby5]

Why would oil companies?
The federal government controls 10% of all oil leases in the U.S.
Why are republicans so invested in the 10%, then ignore the 90% that aren't?

Yeah, that whooping 10%.

The number of leases is irrelevant.
The fact is the federal lands are where almost all the large oil reserves are located in.
The fact most oil currently is coming from private leases, is not relevant.
The fact there are restrictions on federal leases that make most people lease private oil instead, is not relevant.

 

[WEATHER53]

There has been no new construction
The count is the inactive rigs going back to active

 

[Meister]

Why would oil companies?
The federal government controls 10% of all oil leases in the U.S.
Why are republicans so invested in the 10%, then ignore the 90% that aren't?

Yeah, that whooping 10%.

You act like everywhere that they drill has oil. It's costly, and timely.

Why oil companies aren't drilling on those 9,000 land leases - Marketplace

Biden complained about unused leases in his bid to spur supply and reduce gasoline prices. But labor and materials shortages hinder drilling.

www.marketplace.org

 

[surada]

Fuckin' A right! Go big Joe, go big Joe!

U.S. drillers add oil and gas rigs for fourth time in five weeks - Baker Hughes

U.S. energy firms this week added oil and natural gas rigs for the fourth time in five weeks as production growth slows despite relatively high oil prices.

www.reuters.com

 

[BlindBoo]

Yeah, rig count has increased because of his horrid domestic and foreign policies which are squeezing supply.

Nah, it has nothing to with politics. Trump didn't cause the price of oil to go negative. That is what caused the rig count to drop to 250 in 2020. The drop in demand. No where else to go but up when demand spiked again. Biden didn't cause the spike in demand.

U.S. Crude Oil and Natural Gas Rotary Rigs in Operation (Number of Elements)

Rig Count Overview & Summary Count | Baker Hughes Rig Count

The Investor Relations website contains information about Baker Hughes Rig Count's business for stockholders, potential investors, and financial analysts.

rigcount.bakerhughes.com

 

[Nuthin' Fancy]

Biden can't legally lower what the Saudis or anyone else charges,

But you claimed Biden could.

but he did increase US oil exports, which is the WRONG way to cut oil prices.
Instead we should have just followed the law and stopped the illegal economic sanctions on Russian oil.

Sanctions are NOT illegal.
Never heard that, when Trump did the same to China.

July 14 2020
President Donald Trump said Tuesday that he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy.

Trump also said that he signed an executive order ending the preferential treatment that Hong Kong has long enjoyed.

“Hong Kong will now be treated the same as mainland China,” Trump said during a lengthy speech in the White House Rose Garden that quickly drifted away from that legislation to touch on a variety of campaign issues.

“No special privileges, no special economic treatment and no export of sensitive technologies. In addition to that, as you know, we are placing massive tariffs and have placed very large tariffs on China.”

Economic sanctions are totally and completely illegal, violating the US constitution as well as the Geneva Conventions.
Obviously US economic sanctions take profits from US companies that used to do business with Russia, without compensation, in violation of the 4th amendment.

So, what happened to "merica first", shit happens when you do business in a foreign country.

The 1906 Hague Conventions prohibited any economic sanctions or blockades of civilian commerce, and the US Congress ratified them into US law. They were eventually renamed into the Geneva Conventions.
Economic warfare is obviously illegal as well as immoral.

Somewhat, like Russia did to Ukraine?

In a democratic republic, obviously the government has ZERO authority to have any say at all in what anyone wants to do economically.

Hence: Corporations and people take their chances, investing in or doing business in a foreign land.

 

[Harry Dresden]

No Harry, it's true. Just like the rig count went up when Obama was president. It was higher than it had been in 44 years. The reason is that the ppb is high enough to attract investment.

when the banker truthfully answeres the question i asked him about his background in finances,since he talks like he is an expert, i will treat him with some respect....until then he is just another phony trying to pass himself off like he knows what he is talking about....

 

[Harry Dresden]

Agreed, oil will not go away completely in a very long time. But as far as fuel for vehicles it will probably be dead in about 40-50 years. But yes it is involved with the production of sooooooo many products it will not disappear.

aldo you gave me a thumbs down up above.....instead doing that and running....explain yourself....

 

[surada]

But you claimed Biden could.

Sanctions are NOT illegal.
Never heard that, when Trump did the same to China.

July 14 2020
President Donald Trump said Tuesday that he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy.

Trump also said that he signed an executive order ending the preferential treatment that Hong Kong has long enjoyed.

“Hong Kong will now be treated the same as mainland China,” Trump said during a lengthy speech in the White House Rose Garden that quickly drifted away from that legislation to touch on a variety of campaign issues.

“No special privileges, no special economic treatment and no export of sensitive technologies. In addition to that, as you know, we are placing massive tariffs and have placed very large tariffs on China.”


So, what happened to "merica first", shit happens when you do business in a foreign country.

Somewhat, like Russia did to Ukraine?

Hence: Corporations and people take their chances, investing in or doing business in a foreign land.

Trump put sanctions on Venezuela that's why we started buying so much oil from Russia.

 

[Nuthin' Fancy]

The number of leases is irrelevant.

WOW, republicans insisted they were.

The fact is the federal lands are where almost all the large oil reserves are located in.

No, they aren't.
If they were, oil companies would be drilling on them.

January 6 2021
The lease sale for oil and gas exploration tracts on the coastal plain of the Arctic National Wildlife Refuge (ANWR) drew no big oil companies and almost no competitive bidding Jan. 6.

The main bidder, with 11 bids, was the Alaska Industrial Development and Export Authority (AIDEA), a public corporation owned by the state government.

No other organization made more than one complete bid, while three incomplete bids were submitted. Regenerate Alaska Inc. offered the high bid on one tract, and Knik Arm Services LLC offered the high bid on another tract.

The lease sale was held by the Bureau of Land Management within the Interior Department.

he sale drew an aggregate of about $14 million in bids, almost all of it from the state government corporation. By contrast, the last sale of exploration leases in the Gulf of Mexico drew $135 million in bids and was dominated by large oil companies (OGJ Online, Nov. 18, 2020).

AIDEA offered the only complete bid on nine of the 11 tracts where it bid. An incomplete bid was offered on a twelfth tract.

The fact most oil currently is coming from private leases, is not relevant.

It most certainly is...........90%.

The fact there are restrictions on federal leases that make most people lease private oil instead, is not relevant.

It is to.............Republicans.

 

[WEATHER53]

when the banker truthfully answeres the question i asked him about his background in finances,since he talks like he is an expert, i will treat him with some respect....until then he is just another phony trying to pass himself off like he knows what he is talking

People here who have no money love to pretend that they do. But, when they begin to try and provide technical details then they trip themselves up.
One recently stated on his 250k home he has a 120k line of credit. No lender in America grants a 48% loan to value HELC.