Black Gold, Texas Tea

:rofl: Jbiden Inc begging the Arabs for oil. “Bail me out!”

70show_RedForman

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What has Biden done to keep Texas from extracting oil?

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I’m not aware of anything stopping companies from completing DUCs and/or drilling new wells in the Permian. But companies are playing it safe and not increasing activity, which I don’t think has anything to do with Biden.

Still, Biden could exhort the US producers.

Why did he beg the Saudis instead of asking the governors?

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Are the oil companies in Texas owned by the State?

You’re asking why he asked OPEC to raise production quotas? Seriously?

Only time America has affected the spot price of oil in the last couple decades is when the Iraq War sent the price of a barrel of light sweet crude into the stratosphere for like four years. Four dollar, five dollar a gallon gas, that was sweet.

Great thread :joy:

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I saw that last night Biden asking middle east to produce more oil.

Because OPEC control the global market price.
unless Abbott is suggesting socializing oil industry in America like Iran they America can set the price to anything they want.

They control something like 90% of oil reserves on the planet.

Once again, they are pretending not to know how something works. Political amnesia, if you will.

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Yep…

Are they?

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After going on about green. Yep.

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Why can’t they without “socializing it like Iran”?

Do they control 90% of our needs?

Does it have to “work” that way?

Easy to extract reserves.

From what I understand the US, Canada, Mexico, and Russia all have equivalent amounts of oil to the Middle East gulf states. The issue is that it’s more expensive to extract.

Some good points in the attached article also five facts abut shale oil. All points and a Good read.
https://keyfactsenergy.com/news/7122/view/

Also, as per the Story from a respected energy paper, Biden admin has rushed through more permits then any admin since the golden age of G. W. Bush

Also, again as can be seen from this article, the US rig count keeps rising

So good times in the oil patch

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