War in Ukraine

#852
#852
MontyPython said:
Per Forbes, November, 2021:

"Are We Energy Independent?

The Energy Information Administration (EIA) tabulated U.S. energy consumption in 2019 and 2020, and determined that for both full years, counting all energy sources, we were energy independent. Even though U.S. energy production declined by 5% in 2020, energy consumption also declined by 3% as the pandemic impacted the economy. So, our energy independence was shrinking as the pandemic unfolded.

As I noted above, the EIA wrote:

“Annual crude oil production generally decreased between 1970 and 2008. In 2009, the trend reversed and production began to rise, and in 2019, U.S. crude oil production reached a record high of 12.25 million barrels per day. More cost-effective drilling and production technologies helped to drive the production increases, especially in Texas and North Dakota. U.S. crude oil production declined to about 11.31 million barrels per day in 2020. A large drop in U.S. petroleum demand in March and April 2020 as a result of the response to the Covid-19 pandemic led to a decrease in U.S. oil production.”

So, in 2009 we began the march to energy independence. Those wishing to credit President Trump for this need to take another look at that net imports graphic to grasp the full picture.

But we don’t actually know if, once the full year of 2021 has been accounted for, we lost our energy independence for the year. If it turns out that we did, the single largest factor in that will be that oil and natural gas production have yet to return back to pre-Covid-19 levels. But demand has recovered, and therein lies the reason."
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Ah, I see.

I’ve read myriad arguments over the last year or so that stated we were never energy independent, and therefore was no reason to question rising imports in the last 12 months.
 
#854
#854
MontyPython said:
Possibly. I did get COVID, and the nanobots in my brain make me want to anoint Bill Gates as World Leader Forever.

But here's the situation on energy independence (see graph).

So, yeah, we're hovering around "energy independence".

View attachment 429090
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Looks like Trump continued a trend of lowering imports dating back to about ‘06

What impact has the Biden administration had so far?
 
#856
#856
85SugarVol said:
Of course not.

But you do accept that changes in Supply will drive pricing assuming Demand is flat?
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Yes, but demand isn't flat, and just because you import less doesn't necessarily mean that total supply increases, so I'm not sure what you are suggesting.
 
#857
#857
85SugarVol said:
Looks like Trump continued a trend of lowering imports dating back to about ‘06

What impact has the Biden administration had so far?
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"In January 27 executive order introduced a sweeping, government-wide approach to climate policy, Biden announced several new oil and gas policies. The Biden administration is halting new oil and gas leasing on federal onshore lands and offshore waters “to the extent consistent with applicable law.”

I'd say this action caused prices to go up in the short run. Personally, living on the beach in NC, I agree that the new offshore drilling that Trump greenlighted is neither needed nor good for our community. So, I'm OK with Biden's policy and paying more for gas to know that we ain't gonna have tar balls washing up on the beach mid-season.
 
#858
#858
MontyPython said:
"In January 27 executive order introduced a sweeping, government-wide approach to climate policy, Biden announced several new oil and gas policies. The Biden administration is halting new oil and gas leasing on federal onshore lands and offshore waters “to the extent consistent with applicable law.”

I'd say this action caused prices to go up in the short run. Personally, living on the beach in NC, I agree that the new offshore drilling that Trump greenlighted is neither needed nor good for our community. So, I'm OK with Biden's policy and paying more for gas to know that we ain't gonna have tar balls washing up on the beach mid-season.
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Well at least you are honest about Biden impacting gas prices. Well done.
 
#859
#859
05_never_again said:
Yes, but demand isn't flat, and just because you import less doesn't necessarily mean that total supply increases, so I'm not sure what you are suggesting.
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Are you suggesting all the drilling taken off line did not impact supply/pricing?
 
#860
#860
85SugarVol said:
Are you suggesting all the drilling taken off line did not impact supply/pricing?
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I'm confused. You started off by seeming to indicate we weren't energy independent because gas is currently expensive. Those two things don't necessarily have anything to do with each other.

Of course all the drilling taken off line impacts supply and pricing, and any changes in demand relative to supply impact pricing.
 
#861
#861
Lavrov and Blinken going to have a meeting in Geneva Friday. Also Blinken will be meeting with the Ukrainian president tomorrow. Guess it’s the last ditch effort at diplomacy, the Brits are said to to be prepared to go into crisis mode at any moment.
 
#862
#862
05_never_again said:
I'm confused. You started off by seeming to indicate we weren't energy independent because gas is currently expensive. Those two things don't necessarily have anything to do with each other.

Of course all the drilling taken off line impacts supply and pricing, and any changes in demand relative to supply impact pricing.
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No. We aren’t energy independent because we are no longer a net exporter of oil.
 
#871
#871
Haven’t seen Western intelligence sources seem this dark and gloomy on any topic before. If anyone follows international affairs closely like I do it’s concerning to say the least. I think this is the most tense Europe has been in a long time.
 
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#873
#873
Burhead said:
Haven’t seen Western intelligence sources seem this dark and gloomy on any topic before. If anyone follows international affairs closely like I do it’s concerning to say the least. I think this is the most tense Europe has been in a long time.
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Not saying we need to intervene, but will NATO and America really sit back and watch Russia overthrow a sovereign nation’s government. Not to mention the humanitarian crisis that will likely unfold.
 
#874
#874
headhunter15 said:
Not saying we need to intervene, but will NATO and America really sit back and watch Russia overthrow a sovereign nation’s government. Not to mention the humanitarian crisis that will likely unfold.
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Just wait for the belligerent finger wagging.
 
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