Lol.
Better to have just let everyone die, right?
So, we are supposed to blame Trump for the current devastating policies imposed by the Current Democrat Party Leadership?
Give it a freaken break!
JWK
Oil companies are making a fortune right now. Why would they do anything different? Why invest in risk? Why not just rack it in for while? Anything can happen with this pandemic, and lots of global markets are still shut down, or going in and out of shutdowns.
I don’t think big oil would want to risk a serious ramp up right now.
Had you followed the conversation, you might have learned we were discussing the initiation of shutdowns during the pandemic. Trump ordered a shutdown of two weeks which he extended to two months.
Conservatives are trying to pretend Trump didn’t do that.
Very little incentive when they are making billions of dollars per quarter. The risk of upsetting the apple cart with a sudden rush back in is too high. They are slowly increasing rig count.
And what does all that have to do with the subject of the thread ? Look what the Democrat Party Leadership has done to democrat voters
Why not fess up and condemn the Democrat Party Leadership for policies which are destructive to the general welfare of the United States and her citizens?
JWK
I was merely correcting a posters misconceptions in the state of the O&G industry and gas prices. Sometimes secondary subjects emerge in a thread and consume some of the posts. That’s pretty common on forums like this.
I’m calling BS.
Are you claiming the US is at max production with existing wells?
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“Global prices”? Why does that matter?
Whatever happened to not federally tracking and tracing being the worst thing ever, haven’t heard you mention it since Biden took office. Seemed important to you under Trump.
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The US is the largest consumer economy in the world by double.
And we act like a battered woman. “Not in the face China!” “Not in front of the kids OPEC!”
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There are plenty of DUC wells in inventory but nothing is stopping the companies from completing those wells since they are already drilled. Completing them could increase production but not all wells are equal. Many are less economic and it doesn’t make sense to complete them yet when companies have other priorities.
Plus I’m not sure if all the GOM production has been restored yet after the hurricanes, which may also impact production.
Do you accept that companies in the Permian are a bit cautious about investing a lot there today?
Local price won’t vary too much from global. If there is a difference, companies are happy to extract oil here and sell at a higher price on the global market.
On this I agree.
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What other priorities at $80 a barrel. That’s prime price.
A “bit cautious”? Gun shy, of course they are. For various reasons, not least of which is that dumbass running his mouth.
Look, I do understand your desire to correct misconceptions about the Oil and Gas industry and pricing of the product. What I can’t understand is a failure, especially by our mainstream media, to report on and discuss the current Democrat Party Leadership’s specific policies which are destructive to the general welfare of the United States and her citizens, including those who have voted democrat. Is it in our best interests to not discuss policies which are destroying our country from within?
JWK
Sure. To half (at best) the consumer market.
Everybody talks about negotiating drug prices, why is this any different? Has anybody asked them?
Why is OPEC setting the price for American oil sold in America?
Why is dumbass begging OPEC to increase production when that’s not even the oil we use?
I gave up on that while trump was still in office. Once case counts spiraled, it was simply too late for it.
And honestly, this forum convinced me those programs really should be left to the states. It’s the right way practically as well as constitutionally. The Fed really couldn’t and shouldn’t do that.
Who is ‘we’?
The federal government? Free market enterprises?
Good Lord
