Gotta love you guys. You declare oil production is up while your Lib cohort continues to declare that production is down because oil companies are being cautious, they have the capacity, they just aren’t utilizing it…
Which is it?? Is oil production up or down from the level it was under Trump?
Here’s the thing- supply and demand drives the price of oil, and everything else for that matter. If prices are up, either demand is up and/or supply is down. Since your cohort has been insisting that demand has been down because of Covid and the millions of Americans who have decided to leave the workforce for other reasons, then the problem must be on the supply side. Again, it is not just the number of rigs, but the entire process that oil companies have to take into account, and not just immediate issues, but what they anticipate may be coming.
You guys insist that the keystone pipeline shut down had little to no effect on gas prices. Pipelines are the cheapest, fastest and safest way for oil companies to get their oil to refineries. Do you not think that oil companies that have been using pipelines to transport their oil, and who anticipate the continued use of existing pipelines and the addition of future pipelines, might decide to scale back on their production if they anticipate a sudden dramatic increase in the cost of transporting their crude oil due literally to the whim of a left wing green energy fanatic who made the shutting down of a new pipeline a priority in his very first day of office? How about if they’re likewise concerned for the cost of meeting any new regulations implemented by the same left wing fanatic? And By the way, who’s going to pay the fines when new emission standards that are decided by the Paris accords, which the same jackass couldn’t get us back into fast enough, are not met?
You say I’m misinformed? Why don’t you two get together and decide what the actual left wing position is on oil production and at least be consistent, because you sure as hell aren’t going to get any truth from Biden’s administration and the spokesidiot at the podium, Jen Psaki. It’s a FACT that for 4 years under Trump, gas prices hovered around 2.00 a gallon. American oil companies CAN produce and supply enough oil to keep prices reasonable, AND still make billions. The only thing different is the guy in the White House.
This is 100% on Joe Biden and all of you Libs that put the senile idiot in office.
LET’S GO BRANDON!!
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As I have said in previous threads, unconventionals are why we have gained so much production. The history of unconventionals has been wild as everyone invested big back in the 2010’s. Unfortunately, they never seemed to pay the return investors were hoping for and by the end of that decade, investors quit investing so capital dried up. A lot of smaller players disappeared and consolidation occurred.
Now capital discipline rules which means much more conservative investing. Couple that with being very cautious during Covid (when will a new strain depress demand again?). That’s the difference between now and the 2010’s.
Depends on your reference. Production is down from the pre-Covid high but up from when Biden took office.
Now you’re just tugging the apron strings.
That’s already taken place. China’s objective is to be the world #1 power militarily, politically and financially. Putin knows this and he will be China’s energy supplier in exchange for the table scraps of Eastern Europe “bringing back the glory of the Soviet Union” or such. Putin like Brandon are Xi’s bitches, J’Biden is just a cement head old bitch.
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Let me also add that oil companies have been going back and fracing wells that had been drilled but incompleted (DUC wells). Inventory of DUC wells has been falling dramatically so we are likely nearing the level where the remaining DUC wells are less economic to complete.
Interesting.
Strategic Petroleum Reserves actually decreased starting in 2016 from previous years.
WW
JayJay
171
Lol he is probably referring to this…
JayJay
173
“Because the pipeline that’s not finished, wasn’t going to be finished anytime soon and won’t add a drop to production will SAVE US ALL!”
Hallelujah!
It’s like they repeat things they hear but never bother to check if it’s true.
Camp
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You cannot stop what is coming.
Operation WARP speed for energy.
The only question is how bad does the situation need to get first.
Carry on with your trivia.
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Is this how you admit your error? 
Or do you still think you are correct when you said:
Camp
177
Trump did wisely fill up the reserves during the pandemic.
Never said he set the all time record and it is a trivial point you are trying to make.
It took a tectonic shift for Crazy Nancy to call for banning Russia oil yesterday.
There is no longer any sane reason to discourage US energy production.
It is a time of crisis to avoid escalating military action.
Reviving Keystone XL would be symbolic and would also be an important show of unity. I understand that may be a step too far for Brandon…so we will take that step when he IS ready.
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Fill them up? No, he didn’t. He left office with LESS volume in the strategic reserve than Obama left him. How is that “filling it up”?
How would that solve our oil problem today? Even if it never stopped, it still would not be finished today.
How would that solve our oil problem tomorrow? Even if it was completed… it’s not our oil to use.
Camp
180
Why would you focus on the trivial?
The administration’s initial idea for the SPR was to purchase 77 million barrels of oil – the amount required to fill all available space in the reserve - directly from small U.S. producers most at risk from the market slump.
But after Democratic lawmakers blocked funding for the program in last month’s stimulus package, the administration shifted strategies by offering the initial 30 million barrels of space for lease instead.
The Department of Energy said this week it has awarded contracts to store a total of 23 of the 30 million barrels initially offered in the reserve, with deliveries to start as early as this month. A DOE official said it was “not surprising” that some of the offered space was not taken, because the leasing offer required different crude types to be delivered to specific locations on a deadline.
Because the DEMOCRATS prevented it.
Such consistent dishonesty.
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