We Used to Be Energy Independent: What Happened?

[Winco]

Then why are prices going up?

Supply and Demand 101.
Trump, in April 2020 signed OPEC +, which decrease Oil Production,
The deal was for 2 years, meaning, OPEC is still under that deal.

FACT: trump limited production.

 

[Winco]

You ever notice everything that goes to shit is because of democrats?

Like the Housing Market in 2008?

 

[Winco]

If production hasn't been cut, then why the hell would we be asking every country on the planet to ramp up production to help us?

Liberals are idiots.

OPEC +
Look it up.
It's been posted, are you ignoring it or denying it.
trump limited production in April 2020.

 

[Missouri_Mike]

Like the Housing Market in 2008?

Yep

 

[Winco]

Yep

LOOOLLOOLLOOOLLLLL
Bush had no part?

 

[maybelooking]

OPEC +
Look it up.
It's been posted, are you ignoring it or denying it.
trump limited production in April 2020.

you absolutely didn't answer the question. moron.

 

[Aldo Raine]

You can't do that since it is a free market system..

They only believe in Capitalism when they think it suits their needs!!!!
MAGA

 

[Mac-7]

Why are 9,000 sold permits not being worked by oil companies?

Why are only 40% of developed sites pumping any oil?


Why are you an apologist for oil companies?

Oil companies buy the permits and if they discover there is oil they drill

if not they just lost their money

 

[BlindBoo]

That was demand that slowed, shitforbrains moron.
Now demand is back but Democrats have sanctions on America.

US oil producers cut back production in 2020. Plain as day. Most powerful EO's in history. Epic.

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

 

[Winco]

you absolutely didn't answer the question. moron.

I absolutely did.
OPEC+
trump cut production
Now demand is up, and trumps deal hasn't expired.

 

[Missouri_Mike]

LOOOLLOOLLOOOLLLLL
Bush had no part?

It was the mandated by law relaxing of loan qualifications for racial fairness and equity which the democrats never anticipated would end up in such a boom in housing prices but the banks did it because they could package those deals and then sell them to the government.

There were no prosecutions for the so called lending sharks because in any trial of the bankers the true perpetrator was the government and democrats.

 

[BlindBoo]

Oil companies buy the permits and if they discover there is oil they drill

if not they just lost their money

They have to survey the subsurface first or buy data if it's available. Then they can apply for a drilling perming to drill a test well if their geophysicist says okay. Still could come up dry.

 

[maybelooking]

I absolutely did.
OPEC+
trump cut production
Now demand is up, and trumps deal hasn't expired.

why hasn't Biden increased production then? Dont bother answering. Your a fucking lying democrat.
1.07 under Trump. 3.89 today under Biden.

all the lying, spinning, and bullshit in the world can't change that.

 

[martybegan]

Supply and Demand 101.
Trump, in April 2020 signed OPEC +, which decrease Oil Production,
The deal was for 2 years, meaning, OPEC is still under that deal.

FACT: trump limited production.

Expecting OUR production wouldn't be curtailed, but maybe even increased.

It was to protect prices for OUR producers, ones being shafted by the current administration.

 

[otto105]

Oil companies buy the permits and if they discover there is oil they drill

if not they just lost their money

And…what who is your apology for?

 

[there4eyeM]

Vehicles with the highest consumption rate should pay more than the least.

 

[Independent thinker]

It's a mystery, wrapped in an enigma.

“When the Biden Administration took office, it unleashed a dangerous “Mandate and Moratorium” strategy, a green jihad of sorts against the U.S. energy sector. The strategy was simple– create supply constraints for domestic oil and gas producers by dismantling distribution systems, tightening regulations, and suspending leases and permits, therefore impacting future drilling activity. Co-conspirators like Black Rock’s, Larry Fink, then jumped in by urging institutional divestment from the oil and gas sector and wielding a pseudo-sophisticated set of investments standards known as environment, social and governance (ESG). The strategy was topped off with the complicity of social media and tech’s intolerance for a diversity of ideas, ensuring Americans couldn’t discuss the flawed energy policy, let alone dissent from it.”

We Used to Be Energy Independent: What Happened? | The Pipeline

While responding to reporters about Russia’s incursion into Ukraine two weeks ago, President Biden committed that his administration was using every tool at its disposal to protect American businesses and consumers from rising prices at the gas pump. “I will do everything in my power to limit...

the-pipeline.org

So, we became more energy dependent since Biden and the democrats took office. I'm trying to think of what could have been different since Biden and the democrats took office. I'm going to have to study on this for a while to see if I can figure out what the difference was after Biden and the democrats took office. There's got to be something that happened since then that caused us to be more energy dependent since Biden and the democrats took office. Seems like the answer should just pop out at me.

 

[22lcidw]

Like the Housing Market in 2008?

Progs did that. W. warned them for years. The gay congressman Barney Frank had a hand in that and left congress soon after that. Tens of millions of honest men and women were screwed over because of giving out mortgages to people who had no history of paying loans back. Junk bonds proliferated.

 

[DGS49]

(A). Unlike Saudi Arabia, the U.S. does not have excess capacity to simply turn on new supplies when desired by the sovereign. A "demand" for more oil starts a process that culminates about 7-8 months later with...more oil.

(B). U.S. oil production does not set world market prices for petroleum. We are only a small part of the total.

(C). In the U.S., the Sovereign does not dictate the activities of privately-held oil producers. They react to market forces. Period.

(D). The fact that we can produce more oil than we consume, on balance, is not a factor in global oil prices.

The price of oil can be explained by a simple metaphor/simile. The world's oil market can be described as a sort of "swimming pool" filled with oil; the level of the oil in the pool determines the world market price. The higher the level, the lower the price, and vice versa. There are thousands of pipes bringing oil into the pool and thousands of different drains removing oil from the pool. Thus, the level goes up and down. It makes no difference where the inflow of oil comes from or where the outflow goes; all that matters is the level of oil in the pool. If the U.S. were to double its output, the level of oil in the pool would temporarily rise, lowering prices by a bit. If prices get too low (under $60/bbl) then producers will cut back production, thus increasing prices again.

If Venezuela and Iran start pumping more oil, then the price will go down. Do "we" care that our benefit is derived from the benefit to evil regimes? If the U.S. stops buying Russian petrol, but someone else (China?) buys it, there is no effect on the world market.

U.S. Oil producers are making out like a bandit with prices over US$100/bbl. Why [the fuck] would they want to mess with that?

None of this has anything to do with who happens to be President of the U.S. The impact of the Ukraine thing simply accelerates a trend that started in 2020, and the Ukraine thing will not last much longer, one way or another.

 

[jc456]

COVID caused the USA to use less oil products. You agree or not?

sure, we most all went to remote work. air travel decreased. The demofks succeeded in shutting down a country to punish its people. You all truly hate man kind.