Opec cutting oil by 2 million a day

[volfanhill]

The idea that the problem is the oil companies is about as ignorant as possible.

If the president of the US stated he would “end the fossil fuel industry” would you invest more and expand your production?

It's truly amazing how Dems don't see that very stance as a major problem. You can't fix stupid. And it exists on right. But good god Dems come on.

 

[Rasputin_Vol]

Like bragging about saving people 55 cents on their 4th of July BBQ.

Notice, they didn't have any of those tweets this year...

 

[ClearwaterVol]

It's truly amazing how Dems don't see that very stance as a major problem. You can't fix stupid. And it exists on right. But good god Dems come on.

It is amazing to me that Republicans spent 4 years telling us that it didn't matter what trump said. Words weren't important. Now they are?

 

[85SugarVol]

It is amazing to me that Republicans spent 4 years telling us that it didn't matter what trump said. Words weren't important. Now they are?

Valid call out imo.

I think (1) difference here is the consistent message delivered from the progressive left for well over 30 years - We don’t want your Oil.

It’s been a remarkably consistent stance.

 

[ClearwaterVol]

Valid call out imo.

I think (1) difference here is the consistent message delivered from the progressive left for well over 30 years - We don’t want your Oil.

It’s been a remarkably consistent stance.

The problem is that it is an untenable position in the short term. There is much that is needed before dependence on oil can be challenged in a meaningful way.

 

[LSU-SIU]

It's truly amazing how Dems don't see that very stance as a major problem. You can't fix stupid. And it exists on right. But good god Dems come on.

Making the assumption that its just stupid policy might be a mistake, its appears to be more a plan. Its just you aren't a part of their future plans, they would rather you just took a gun to your own head.

Its a plan.

 

[CagleMtnVol]

 

[jvol1]

I guess the Saudis voted trump?

 

[AM64]

The problem is that it is an untenable position in the short term. There is much that is needed before dependence on oil can be challenged in a meaningful way.

The "short term" is probably far longer than you are thinking. So much has to change for a move away from oil to even happen, and there is absolutely no plan to get there. A haphazard patchwork of "renewable" power sources and railing against what is working isn't a plan. There's no leadership, virtually no understanding outside the old stable power producers of how undependable the renewables are or reliable backup - baseline power, no viable transition plan, and certainly no compatible thought process in the investment market to fund the whole thing. The whole process is going nowhere except down the tubes. We've even turned against the consumer by using NG to produce electric power - at least at one time NG was in direct competition with electric power and a means to keep energy costs in line; the consumer was the big loser in that change.

 

[C-south]

View attachment 497547

And you helped make it happen.

 

[C-south]

Like bragging about saving people 55 cents on their 4th of July BBQ.

It was like $0.19

 

[Vol737]

I’m all in favor of solar panels on individual homes, geothermal units to heat and cool your home, basically what ever gets the individual off the grid that they would like to use. Hell, set up your own wind turbine in your yard. We’ve figured a lot of that out. However, there is NOTHING in the foreseeable future that can do the heavy lifting in our economy like fossil fuels. NOTHING. You’re not gonna power 18 wheelers, locomotives, barged, tankers, freighters, heavy construction equipment, etc. on batteries, wind or solar power. It will be oil and gas. It will always be oil and gas. Why do you think Buc-ees is expanding at rapid fire pace with the most gas pumps anyone has ever seen??

The sooner the left and the dems get out of their fantasy world of “everything electric”, the better off we will be. It’s a fools errand. And the .gov needs to get the f*** out of the way, open up our domestic oil production again and reinvest in nuclear energy as well. This admin and the GND crowd need to stop being so proud of bending us over, pi$$ing down our leg and telling us it’s raining. So, let OPEC cut production and the dementia patient keep groveling. Let oil go into the stratosphere. Seems nobody can learn a damn lesson unless it’s through blunt force being applied. But yeah, let’s blame it on oil companies while disregarding their enormous capital expenditure on a daily basis to bring oil and energy to market. Sorry, I woke up salty. Where’s my coffee??

 

[LSU-SIU]

The sooner the left and the dems get out of their fantasy world of “everything electric”, the better off we will be. It’s a fools errand. And the .gov needs to get the f*** out of the way, open up our domestic oil production again and reinvest in nuclear energy as well.

Probably not going to happen and even if it did happen, you're really looking at decades to fix what they have destroyed. Europe is looking at decades, and that is if they can find someone stupid enough to invest in it.

Why would anyone throw money at this when the normal ROI is going to be probably 30+ years?

It’s a fools errand.

Is it? What is the real objective?

 

[Vol737]

Probably not going to happen and even if it did happen, you're really looking at decades to fix what they have destroyed. Europe is looking at decades, and that is if they can find someone stupid enough to invest in it.

Why would anyone throw money at this when the normal ROI is going to be probably 30+ years?



Is it? What is the real objective?

We could fix it sooner with real leadership in the WH and Congress and a change in the voter mindset wrt priorities. The real objective is control and soaking taxpayers, which is why voters need to figure it out and change their priorities. All these little red herring issues on the periphery that are used as distraction won’t mean s*** to them when they can’t put food on the table, gas in the car and money in the bank. But for the people out there that think the GND is serious policy and truly believe banning fossil fuels is good policy, yes, it’s a fool’s errand.

 

[Orangeburst]

I see Biden is throwing a tantrum and pissing of. Saudi Arabia

 

[davethevol]

I see Biden is throwing a tantrum and pissing of. Saudi Arabia

So is Congress. They’re talking about passing a law letting them sue OPEC over this.

 

[MOOOOONEY]

I’m very proud of the fact that world leaders respect the United States again, as they bend us over and f$$k us in the a$$.

What a sh$t show this administration is.

 

[85SugarVol]

Are the OPEC countries, whose lifeblood is Oil, aware that Joe Biden and the Democrats have promised Death to Oil?

Anybody know? Probably not…

Why aren’t they helping here? I don’t get it.

 

[Rasputin_Vol]

 

[Orangeburst]

Are the OPEC countries, whose lifeblood is Oil, aware that Joe Biden and the Democrats have promised Death to Oil?

Anybody know? Probably not…

Why aren’t they helping here? I don’t get it.

Pushing them straight to CCP
They cut off arms sales it is over
Shut down domestic drilling and lose all leverage with OPEC

Heck maybe even dollar for oil currency

 

[TheDeeble]

I see Biden is throwing a tantrum and pissing of. Saudi Arabia

And foreign policy was his "strength" going into the 2020 elections.

 

[AM64]

Pushing them straight to CCP
They cut off arms sales it is over
Shut down domestic drilling and lose all leverage with OPEC

Heck maybe even dollar for oil currency

We shouldn't roll over and play dead; and since we didn't see fit to destroy OPEC in it's infancy, we do have a problem. The question is how do you pressure OPEC and particularly the Saudis except in our case by using our own domestic oil capacity to reduce the dependence. Even at that the issue seems to come back to refining capacity rather than crude production ... at least that was the analysis a few months ago. That's where our government policy has killed us. The return on investment for new refining capacity is years off and we are all about instant returns and instant gratification. Nothing is going to happen there or needed nuclear generating capacity without some kind of government push, and all this government does is push the wrong way. Cartels are evil creations that should be destroyed, but you can't do much about them when you are dependent on them.

 

[hog88]

We shouldn't roll over and play dead; and since we didn't see fit to destroy OPEC in it's infancy, we do have a problem. The question is how do you pressure OPEC and particularly the Saudis except in our case by using our own domestic oil capacity to reduce the dependence. Even at that the issue seems to come back to refining capacity rather than crude production ... at least that was the analysis a few months ago. That's where our government policy has killed us. The return on investment for new refining capacity is years off and we are all about instant returns and instant gratification. Nothing is going to happen there or needed nuclear generating capacity without some kind of government push, and all this government does is push the wrong way. Cartels are evil creations that should be destroyed, but you can't do much about them when you are dependent on them.

We have ran this country on 4 year cycles and its biting us in the ass.

 

[Rasputin_Vol]

So I guess the purpose of the sanctions was to limit the amount of oil that Russia could sell? Yet, they seem to be lowering production anyways, yet still able to make a profit? What gives?

Russia Claims It Can Maintain Oil Production At 9.9 Million Bpd | OilPrice.com

Russia expects to keep its production at 9.9 million barrels per day (bpd) in October, Russian Deputy Prime Minister Alexander Novak said on Wednesday, citing production volumes that are more than 1 million bpd below Russia’s current target under the OPEC+ deal.

Russian President Vladimir Putin said on Wednesday that Russia would keep oil production and exports at that level until 2025, vowing not to give up what he considered to be his world-leading position in the global energy markets despite sanctions.

“We are at the same level, 9.9 mln bpd. We currently have stable production,” Novak, who represents Russia at the OPEC+ meetings, said at an energy forum in Moscow today, as carried by Russian news agency TASS.

Russia is set to keep the 9.9-million-bpd level throughout October, Novak added.

 

[StarRaider]

The Democrats' oil folly