Opec cutting oil by 2 million a day

#151
#151
Ashevolle said:
So

You think failure of Biden to invest in oil exploration affects current prices? Dude hasn't even been in office 2 years. What kind of timeline do you think this stuff moves on?

We've got more oil reserves than basically anyone. These are market forces at large at work chiefly driven by the Russia/Ukraine conflict.
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We were a net exporter under Trump I believe, and now we are tapping into the strategic reserve. So yeah i would say 2 years is enough for policy to have an effect.
 
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#152
#152
ClearwaterVol said:
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?
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It's not just words though - it's actions/policies that tell oil producers they would be idiots to expand exploration or invest production expansion. If it were just words the investment calculus would be different.
 
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#153
#153
LouderVol said:
We were a net exporter under Trump I believe, and now we are tapping into the strategic reserve. So yeah i would say 2 years is enough for policy to have an effect.
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Had Biden not implemented his EOs and regs we'd be able to produce about the same as we were and that stability of supply would definitely impact prices. SPR releases are not stable supply. The market prices based on predicted supply.

At a minimum we could have mitigated some of the supply shock from Russian actions. Instead we throttled back via policy/regs at the same time Russia throttled back and OPEC is throttling back. It's not hard to see how our policies have played a role in the pricing situation.
 
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#154
#154
What kind of stupid does one have to be to believe the Admins promise to destroy the oil industry for good and not have an effect on current cost?
Fact is..Green and EV is not ready for Prime Time..There is no Plan. So suck it up buttercups and pay pay pay.
The USA begging OPEC, Venezuela, and giving Iran a pass, and diminishing Strategic Reserves with a plan to buy back at $72..just pathetic.

This is a trainwreck of historical significance. Anyone with common sense sees it., yet the questions are never asked or answered.
 
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#155
#155
Ashevolle said:
So

You think failure of Biden to invest in oil exploration affects current prices? Dude hasn't even been in office 2 years. What kind of timeline do you think this stuff moves on?

We've got more oil reserves than basically anyone. These are market forces at large at work chiefly driven by the Russia/Ukraine conflict.
Click to expand...

“We are going to End fossil fuels”
- Joe Biden

iT’s RuSsIa’s fAulT!!!
 
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#156
#156
volinbham said:
Had Biden not implemented his EOs and regs we'd be able to produce about the same as we were and that stability of supply would definitely impact prices. SPR releases are not stable supply. The market prices based on predicted supply.

At a minimum we could have mitigated some of the supply shock from Russian actions. Instead we throttled back via policy/regs at the same time Russia throttled back and OPEC is throttling back. It's not hard to see how our policies have played a role in the pricing situation.
Click to expand...
And now he's depleting strategic reserves that Trump shored up, just so he can artificially lower prices to get past an election.
 
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#160
#160
theFallGuy said:
And now he's depleting strategic reserves that Trump shored up, just so he can artificially lower prices to get past an election.
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Isn’t election tampering an impeachment offense? Can you imagine the meltdown the Dimonic party would have if Trump attempted this?
 
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#161
#161
rekinhavoc said:
The Democrats' oil folly
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"Therein lies a story. Way, way back, in March 2020, then-President Donald Trump proposed to fill the Strategic Petroleum Reserve to its maximum capacity with U.S.-produced crude oil. That would have involved the purchase of 77 million barrels of oil. Trump wanted to act because oil was cheap, about $24 a barrel, and the United States could effectively top off the tank for a very good price.
At Trump's behest, Republicans put money for the oil purchase in a big spending bill that was then under consideration on Capitol Hill. That's when their efforts were stopped cold by Democrats, who labeled Trump's plan a "$3 billion bailout for big oil." This is from Roll Call on March 25, 2020: "The Trump administration's plan to top off the Strategic Petroleum Reserve ran into a blockade ... after lawmakers excluded $3 billion in funding for oil purchases from the massive stimulus package before Congress. Senate Democrats took credit for stripping out that money from the Senate bill ... calling it a 'bailout' for the oil industry." In particular, then-Senate Minority Leader Charles Schumer (D-NY) took personal credit for killing the measure."

Could of made a $9B profit,,yet here we are. Now that its a business and common sense financial approach that we need a lot of in DC. Yet politics.
 
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#162
#162
Orangeburst said:
"Therein lies a story. Way, way back, in March 2020, then-President Donald Trump proposed to fill the Strategic Petroleum Reserve to its maximum capacity with U.S.-produced crude oil. That would have involved the purchase of 77 million barrels of oil. Trump wanted to act because oil was cheap, about $24 a barrel, and the United States could effectively top off the tank for a very good price.
At Trump's behest, Republicans put money for the oil purchase in a big spending bill that was then under consideration on Capitol Hill. That's when their efforts were stopped cold by Democrats, who labeled Trump's plan a "$3 billion bailout for big oil." This is from Roll Call on March 25, 2020: "The Trump administration's plan to top off the Strategic Petroleum Reserve ran into a blockade ... after lawmakers excluded $3 billion in funding for oil purchases from the massive stimulus package before Congress. Senate Democrats took credit for stripping out that money from the Senate bill ... calling it a 'bailout' for the oil industry." In particular, then-Senate Minority Leader Charles Schumer (D-NY) took personal credit for killing the measure."

Could of made a $9B profit,,yet here we are. Now that its a business and common sense financial approach that we need a lot of in DC. Yet politics.
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According to Trump he did do this so we should be good to go

“So after 50 years of being virtually empty, I built up our oil reserves during my administration, and low energy prices, to 100% full. It’s called the Strategic National Reserves, and it hasn’t been full for many decades. In fact, it’s been mostly empty.”
 
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