Nah it’s OPEC. They’ve actually cut under their quota and are still showing restraint, nobody knows what demand will be this year.
We’ll pick up enough rigs to drill ourselves into another bust here soon enough.
WuWei
244
Nah, it’s Jbiden running his cake hole.
JayJay
245
I love it when people not in the business tell those who are in the business (or used to be) that they know more about the business than those in it do.
Also those who don’t know how to read trend graphs telling those who do that they know more as well.
It’s priceless.
WuWei
246
Sure, sure. I’ve been in the business a lot longer than you have and a lot closer.
But you defend him any way you can.
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Sneaky knows something about the oil patch, but his conclusions in this case are ideological.
I worked one the drilling and completions side, that doesn’t mean that I’m an expert on markets: The general consensus of industry experts is that the conscious reduction strategy from OPEC for the purpose of boosting prices it’s having its intended effect and will continue especially as it doesn’t look too good on the demand side anytime soon. That all makes sense to me.
Oil is a long term downward trending commodity, and anything Biden has done amounts to not a whole lot. Oil and natural gas production on Federal lands is well under 10% of US production, it’s just never been a big part of the mix. If oil can stay at $60+ for a bit then maybe some people can get back to work, until the next bust.
Well that’s not what the experts say. Looking at their conclusions it makes sense. Did you know Vermont has like 6 times the amount of Federal oil leases Texas does? I was just looking at Fed oil permitting and I’m like whoa there is almost nothing in Texas.
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Guilds
250
Since when have you been a fan of democracy?
That’s just bds and a confirmation bias.
Sorry Biden’s energy policies have zero to do with the oil price rise.
Allan
If we had a democracy, hillary Clinton would be in her second term right now.
We don’t. We have a representive republic.
Allan
It’s like you don’t care about making people poorer? I care!
The biggest lie by Blue Anon is that JOe was mentally capable of being president.
It was fake news. We all see that now.
Yes, I do… But you don’t as you support high energy prices.
Does opening the border for cheap illegal labor make our working poor richer or poorer…?
84 new rigs in operation since Biden was elected.
He didn’t have anything to do with that of course, it’s just the reality that OPEC still controls the price of oil globally.
Most of us knew it before. The libs just don’t care.
It’s amazing your media gave you that talking point. It’s shows we all know the truth. Dems make people poorer with high energy costs and they need to have talking points ready to go to try to hide it…
I wasn’t reading much “media” when I was running a million pounds of drillstring in the Gulf.
Tell me more about how this all works, it’s fascinating.
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