$7.00 Gas?

#76
#76
utvolpj said:
That's kinda what I was saying. The need for it is really not there any longer. Not quite a security risk at all
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No not immediate but I'm not sure you start releasing reserves. What's the long term plan?
This is not even a short term plan. This is a one time plan.
 
#77
#77
Sandman 423 said:
All we heard during the last administration is that actions matter and not the words.:oops: You are correct though, Oil investments go down when the president says it time for your job to go.
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Words always matter, it was the twisting of words that was bs. “There were fine people” comes to mind.
 
#79
#79
Politicians have no clue what to do on energy policies and, like most things they assess, it's short sighted and typically focused on the next election cycle.

In my completely uninformed and unqualified opinion:

Do we need to get off fossil fuels? Probably.

What's a realistic time frame? 50 years maybe?

What they say and what they do are usually far apart once they get in office and see what is happening

https://www.washingtonpost.com/climate-environment/2022/01/27/oil-gas-leasing-biden-climate/

Remember Obama’s drill, baby, drill days? Democrats aren’t innocent on climate | David Sirota
 
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#80
#80
tim said:
Net zero is a myth. Electricity is produced. Nuclear energy is the answer.
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Geothermal is now starting to appear to possibly be a better solution than nuclear. Advancements made in drilling / fracking by the oil industry are providing access to the heat from the earth’s core
 
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#81
#81
85SugarVol said:
In April 2020 the bottom dropped out (broke really) and WTI was trading at -$30 per barrel.

You had to actually pay someone else to take it off your hands.

Been a steady climb back towards $100 since.
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IIRC, the oil price collapse was due to commodity speculators trading oil futures that came to a head. Insane that folks can buy oil futures without the ability to take delivery of the oil
 
#82
#82
They're certainly not the only driller, but really interesting how little risk tolerance there is for driller stocks.

 
#83
#83
Vol423 said:
I have no doubt that the idiots currently in charge have plans for this. What could possibly go wrong? We'll be at the complete mercy of anyone with an EMP device.
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We already are. None of our stuff is running without their electronics.
 
#84
#84
luthervol said:
I don't know his quotes, but I'll assume you are pretty accurate. Probably shouldn't have said those things, but I'll go out on a limb and say there is not an 80 year old guy in the world who hasn't said some pretty stupid stuff in their lifetime. I'm not going to put to much emphasis on a few quotes, I'll look at the way they lived their lives and at the things they tried to do and accomplish.

And I'm not defending what Biden has done that effects the price of gas, I'm saying that current gas prices are not entirely on him (as the right tries to claim). The prices have very little to do with what Biden has done.
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FFS…. You voted for Sleepy Sloppy Joe… a mumbling dullard…. Liar…. criminal…. POS…. and you’re going to look at the way he lived🙄
 
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#87
#87
walkenvol said:
Geothermal is now starting to appear to possibly be a better solution than nuclear. Advancements made in drilling / fracking by the oil industry are providing access to the heat from the earth’s core
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Scares me more than nuclear for some reason
 
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#90
#90
If gas hits $7.00 a gallon then it will crush the poor and middle class. It would also trigger a big recession world wide. The current administration immediately came in as hostile to the energy industry, that alone immediately drove up prices. Take natural inflation into account from too much spending and you have one big giant $hit sandwich, and everyone is going to have to take a bite. You can thank all the free money give aways that both parties voted for as well and the dems war on fossil fuels. Stupid, stupid, people.
 
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#91
#91
norrislakevol said:
If gas hits $7.00 a gallon then it will crush the poor and middle class. It would also trigger a big recession world wide. The current administration immediately came in as hostile to the energy industry, that alone immediately drove up prices. Take natural inflation into account from too much spending and you have one big giant $hit sandwich, and everyone is going to have to take a bite. You can thank all the free money give aways that both parties voted for as well and the dems war on fossil fuels. Stupid, stupid, people.
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Hostility to energy continues.

Opinion | Biden’s Regulators Empower Putin

In an act of bizarre timing, the Federal Energy Regula-tory Commission (FERC) on Thursday revised its policy for approving nat-ural gas pipelines and export terminals. FERC by law must vouch that projects are in the public interest and won’t have a significant environmental impact. But now the agency plans to include green-house gas emissions in this analysis. The vote was 3-2, with two Republican commissioners dissenting.
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The idea that there is no difference between D and R, is false.
 
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