US Oil Producers Fail to Produce

[Seran]

President Biden called out the need to lower inflation by combating the huge impact energy prices have on costs. Announcing the coordinated release of oil from emergency stockpiles internationally due not only to Russian oil sanctions, but domestic oil producers in the United States failing to produce.

Oil drilling starts in the United States catered during the Trump administration starting well before the beginning of the covid-19 pandemic as scene in the EIA drilling report below. Only now under Biden has the number of active oil rigs begun to increase.

https://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf

On the flip side, gasoline inventories have fallen month and month while the refinery utilization rate has stagnated at 87%. The crack spread for oil distillate profits has spared 41%. This trend highlights the massive disparity between the cost to produce oil and the value of the final product. Democrats have done a shitty job showing how oil producers and oil refineries are owned by the same companies who manipulate production to keep prices high. Republicans meanwhile are entirely silent on the issue and instead excoriate Biden for failing to entice these companies to produce more.

https://www.eia.gov/todayinenergy/detail.php?id=49856

To affect true change, five things need to happen that Republicans will not allow.

1. All oil leases not utilized will be reclaimed by the Federal government and auctioned off again.

2. The United States investment into producing electric only cars or hybrids with fuel efficiency ratings over 40-50 miles per gallon should be 1/3rd of the price of the car, paid as a refundable tax rebate.

3. Any further acquisitions or merges of existing oil and gas producers must be denied. Existing producers of oil who in turn refine their own product must be split up. A lack of competition has enabled the current price manipulation.

4. Oil and gasoline exports in the United States must be halted again. This is a necessary price control needed to insulate Americans from the predatory production and price manipulation of OPEC+.

5. Lastly, oil and gasoline trading in commodity markets will be limited to domestic refiners for oil and domestic retailers of gasoline. No refiner or outlet will be permitted to purchase contracts greater than their ability to take delivery in any given week or month.

[Seran]

Oil prices are up 6% as commodity traders and investors bet on oil shortages as a result of Russian sanctions. Meanwhile, not only are oil producer stocks up today, but REFINERS are also up today between 4-8% on oil prices. If oil refiners weren't able to completely pass on their cost increases (at a profit), then their stocks would be falling as analysts revised their balance sheets to determine their long and short oil positions.

On the flip side, oil producers who have idled the majority of their drilling rigs know their fixed costs on maintaining existing wells makes them a profit in excess of $80-$90 dollars per barrel produced at sites. Which explains why their stocks are soaring. As are dividends to shareholders. But not, you'll notice, are the majority of these profits being put into drilling new wells. Why? Current fracking technology allows the life of existing wells to be extended for years, compared to pre-2000s and wells created prior to fracking being widespread are being made productive again.

[Seran]

Oil and gas exports continue to increase, following a recent revision by the EIA showing that in December, oil and petroleum exports surged to 9.6 million barrels per day.

Republicans can help immediately reduce oil and gas prices by supporting Democrats in ending unrefined crude oil exports again in our country. They should additionally call their major donors with ExxonMobil, Chevron, BP, Occidental and others and tell them to reactivate idled oil production and to increase oil drilling.


Recent export data show differences between our weekly and monthly estimates. In our February release of the Petroleum Supply Monthly (PSM), we report that the United States exported slightly more than 9.6 million barrels per day (b/d) of crude oil and petroleum products during December 2021. This volume of exports surpassed the all-time record of slightly less than 9.6 million b/d in February 2020 (Figure 1). The export volumes in the PSM were 1.7 million b/d higher than preliminary exports reported in our Weekly Petroleum Status Report (WPSR), in which we estimated that exports averaged 7.9 million b/d in December.

https://www.eia.gov/petroleum/weekly/archive/2022/220302/includes/analysis_print.php

[Tgo01]

Is anything ever Biden's fault?

[Gelston]

According to Psaki, just right now, there is more oil production than under the first year of Trump and next year we'll have more production than anytime in US history. Is Psaki lying, Seran?

[Seran]

According to Psaki, just right now, there is more oil production than under the first year of Trump and next year we'll have more production than anytime in US history. Is Psaki lying, Seran?

Now she's telling the truth and I can understand where you're confused as to why oil prices are rising in the US when we are producing even more oil than before. It's because the Republicans and Trump opened up oil exports from the United States for the first time in five decades. Which means that the entire world demand is competing for the resources produced here the US. I can certainly see where basic supply and demand is confusing you. You should ask your congressman to help the Republican Party to understand that it is private companies that produce oil in our country and not President Biden

[Tgo01]

I am now convinced that Seran is doing an extreme left-wing version of old school Stephen Colbert, just without even a hint of humor in it.

It's the only logical conclusion one can draw from the insanity that is Seran's posts.

[Gelston]

Now she's telling the truth and I can understand where you're confused as to why oil prices are rising in the US when we are producing even more oil than before. It's because the Republicans and Trump opened up oil exports from the United States for the first time in five decades. Which means that the entire world demand is competing for the resources produced here the US. I can certainly see where basic supply and demand is confusing you. You should ask your congressman to help the Republican Party to understand that it is private companies that produce oil in our country and not President Biden

But…. Your entire thread is about them failing to produce.

[Tgo01]

Seran: High oil prices is because US oil companies won't pump more oil!!!11!!!!
5 days later.
Seran: High oil prices is because US oil companies are producing TOO MUCH OIL but they are selling it all to other countries!

[Parkbandit]

I am now convinced that Seran is doing an extreme left-wing version of old school Stephen Colbert, just without even a hint of humor in it.

It's the only logical conclusion one can draw from the insanity that is Seran's posts.

He's not.

He's really that fucking retarded.

[Tgo01]

He's not.

He's really that fucking retarded.

That's quite sad then.

[Seran]

But…. Your entire thread is about them failing to produce.

And now you see the entirety of the picture. Oil companies are producing more oil, but are failing to utilize oil and gas leases that independent exploration companies /would/ utilize. Wild speculation created by Trump's defunding of the CFTB, the cannibalism of the medium sized oil procedures allowing the current supply manipulation domestically and the disastrous opening of oil exports out of our country has resulted in the disaster of current oil prices.

Oil prices up 300% in two years without any oil shortages? Market manipulation.

[Suppa Hobbit Mage]

Keystone pipeline could certainly help, amirite?

[Tgo01]

Keystone pipeline could certainly help, amirite?

It couldn’t hurt. Unless you’re an alt-leftist who for some reason thinks US and Canadian oil pollutes more than foreign oil.

[Tgo01]

Shit, if Canada and the US ramped up oil and gas production we could not only bring prices for everything way down, but we would cripple Russia’s economy way better than any of the sanctions we are currently doing.

But why do that when the Democrat party is beholden to the alt-leftist faction of their party who would rather watch the US crash and burn than actually help the struggling American families they claim to care about.

[Gelston]

And now you see the entirety of the picture. Oil companies are producing more oil, but are failing to utilize oil and gas leases that independent exploration companies /would/ utilize. Wild speculation created by Trump's defunding of the CFTB, the cannibalism of the medium sized oil procedures allowing the current supply manipulation domestically and the disastrous opening of oil exports out of our country has resulted in the disaster of current oil prices.

Oil prices up 300% in two years without any oil shortages? Market manipulation.

That isn't what you were saying in this thread. You were saying that oil WASN'T BEING PRODUCE. The literal title of the thread is "US Oil Producers Fail to Produce". Can you make up your mind already?

[Parkbandit]

Seran: High oil prices is because US oil companies won't pump more oil!!!11!!!!
5 days later.
Seran: High oil prices is because US oil companies are producing TOO MUCH OIL but they are selling it all to other countries!

What are you talking about.. 5 days later? That was in the span of less than 2 hours.

[Seran]

Keystone pipeline could certainly help, amirite?

Canada has absolutely no trouble shipping oil to or through our country, we're their bigger customer. Producing an environmentally unsound pipeline to channel Canadian oil to American ports, that isn't resolving energy issues.

[Seran]

That isn't what you were saying in this thread. You were saying that oil WASN'T BEING PRODUCE. The literal title of the thread is "US Oil Producers Fail to Produce". Can you make up your mind already?

I see you read the title and ignored the entirety of the post. Great ability to summarize a title though, maybe one day you'll be able to comprehend data and links too!

[Seran]

Shit, if Canada and the US ramped up oil and gas production we could not only bring prices for everything way down, but we would cripple Russia’s economy way better than any of the sanctions we are currently doing.

But why do that when the Democrat party is beholden to the alt-leftist faction of their party who would rather watch the US crash and burn than actually help the struggling American families they claim to care about.

Canada and the US ramping up oil production is /exactly/ what is needed right now and there is absolutely nothing stopping them from doing it, but they're not. Record profits, very little capital expenditures and massive payouts to their shareholders as dividends and large stock buybacks. Tell me, when an oil company realizes it can sell 1 barrel of oil for $80 dollars from an existing well by limiting supply, absolutely what reason do they have for ramping up production to sell 2 barrels of oil for $40 each? You troll and troll and troll, but never have anything of substance to add, beyond stating the obvious; we need more oil! Well fucking duh.

[Parkbandit]

I see you read the title and ignored the entirety of the post. Great ability to summarize a title though, maybe one day you'll be able to comprehend data and links too!

SO when YOU made the title "US Oil Producers Fail to Produce", you really meant "US Oil Producers Produce Enough They Are Just Too Greedy And Should Be Nationalized" ?

You have served your title here admirably. I literally don't ever see you losing it at this point.

[Gelston]

I see you read the title and ignored the entirety of the post. Great ability to summarize a title though, maybe one day you'll be able to comprehend data and links too!

In your literally first line. "but domestic oil producers in the United States failing to produce."

[Methais]

He's not.

He's really that fucking retarded.

This is correct.

[Seran]

President Biden announced a ban on any oil or gas imports from Russia this morning in conjunction with the United Kingdoms. The UK imports only 5-8% of its oil from Russia. Domestically, we important less than 200,000 barrels of oil per day from Russia, a number offset by the 30 million barrels of oil our President is making available from the Strategic Oil Reserve.

As expected, commodities traders went into a frenzy and WTI futures briefly surged past 7% before calming as the reality of our complete lack of an oil shortage set in.

Now, what does that mean for the world as the majority of our European allies aren't sharing in the import ban? Very little. The other major oil consumers of the world continue to take deliveries, but it sends a powerful message of solidarity with Ukraine.

Domestically the President has called out the energy conglomerates for not utilizing their existing oil and gas leases and warned them about using this as an excuse to price gouge at the expense of our nation. We shall see what comes next.

[Tgo01]

President Biden announced a ban on any oil or gas imports from Russia this morning in conjunction with the United Kingdoms. The UK imports only 5-8% of its oil from Russia. Domestically, we important less than 200,000 barrels of oil per day from Russia, a number offset by the 30 million barrels of oil our President is making available from the Strategic Oil Reserve.

Sometimes I read a Seran post just for the laughs, and oh boy did this one deliver!

Even assuming we take your figures at face value (and I'm sure they are way off) 30 million barrels will only last us 150 days at a deficit of 200k barrels a day, after that we now have a DAILY deficit of 200k barrels a day, when gas prices are already over 7 dollars per gallon in certain areas of the country. That's a 1% deficit for us.

I also like how you say "ONLY" imports 5-8% of their oil from Russia. You do know that is quite a significant number right? Even 1% is a significant number.

[Gelston]

Sometimes I read a Seran post just for the laughs, and oh boy did this one deliver!

Even assuming we take your figures at face value (and I'm sure they are way off) 30 million barrels will only last us 150 days at a deficit of 200k barrels a day, after that we now have a DAILY deficit of 200k barrels a day, when gas prices are already over 7 dollars per gallon in certain areas of the country. That's a 1% deficit for us.

I also like how you say "ONLY" imports 5-8% of their oil from Russia. You do know that is quite a significant number right? Even 1% is a significant number.

The places where it is over 7 dollars a gallon is places where those idiots voted to tax gas higher. California deserves it.

[Tgo01]

The places where it is over 7 dollars a gallon is places where those idiots voted to tax gas higher. California deserves it.

Unless something drastic changes and soon, there is no way we won't all see 7+ dollars a gallon within the next few months. 10+ dollars a gallon isn't even unthinkable at this point.

Prices have already jumped in my area 70 cents in less than a week.

[Methais]

Unless something drastic changes and soon, there is no way we won't all see 7+ dollars a gallon within the next few months. 10+ dollars a gallon isn't even unthinkable at this point.

Prices have already jumped in my area 70 cents in less than a week.

Have they tried to blame Trump yet?

[Tgo01]

Have they tried to blame Trump yet?

Of course they have.

[Parkbandit]

Have they tried to blame Trump yet?
“According to energy analysts and experts, President Trump’s reckless decision to pull out of the Iran deal has led to higher oil prices. These higher oil prices are translating directly to soaring gas prices, something we know disproportionately hurts middle- and lower-income people, since a larger chunk of their disposable income goes for gasoline.” -Chuck E. Schumer Sure he said that in 2018, but it wasn't right then.. so why wouldn't he try to use it in 2022?

[Tgo01]

“According to energy analysts and experts, President Trump’s reckless decision to pull out of the Iran deal has led to higher oil prices. These higher oil prices are translating directly to soaring gas prices, something we know disproportionately hurts middle- and lower-income people, since a larger chunk of their disposable income goes for gasoline.” -Chuck E. Schumer

What an absolute joke. Didn't Trump pull out of the Iran deal back in 2017? And yet gas prices were just fine throughout Trump's entire presidency and didn't start soaring until shortly after president Disaster was sworn in?

[Parkbandit]

What an absolute joke.

https://c.tenor.com/XZtFhmk4USkAAAAM/funny-laugh.gif

[Tgo01]

Seriously at this point how does ANY Republican candidate, even Trump, lose to Biden in 2024? The only way is cheating and no one can convince me otherwise.

[Methais]

What an absolute joke. Didn't Trump pull out of the Iran deal back in 2017? And yet gas prices were just fine throughout Trump's entire presidency and didn't start soaring until shortly after president Disaster was sworn in?

Seran's reaction:

https://c.tenor.com/P5_hF2KzfqEAAAAC/uhhuh-clap.gif

[Parkbandit]

Seriously at this point how does ANY Republican candidate, even Trump, lose to Biden in 2024? The only way is cheating and no one can convince me otherwise.

I doubt the Democrats will let Biden run again in 2024. They will put up a new, fresh face... like Hillary or Michelle Obama...

[Seran]

Looks like even OPEC is aware of the truth of American oil producers under investing in capital expenditures.

The report quoted Barkindo as saying one of the topics of discussion had been U.S. shale majors' decision to continue returning cash to shareholders rather than expanding production in response to higher oil prices.

"This massive under-investment requires us to revisit that," the OPEC head said, as quoted by Reuters. "This is up to the companies themselves and their boards ... but there's this general realization that something needs to be done" about oil prices.

https://oilprice.com/Energy/Crude-Oil/OPEC-Discusses-Oil-Market-With-US-Shale-Executives.html

[Seran]

Any day now we're going to start seeing Reagan's trickle down economics start working. Maybe fifty years from now the Trump tax cuts might do a something other than putting profits into the pockets of shareholders. Sure as hell can see the difference in the oilfield, capital investments catered under Donald Dump

[Tgo01]

Hmmm......................

https://www.reuters.com/business/energy/us-europeans-discussing-banning-russian-oil-imports-blinken-says-2022-03-06/


The United States imported more than 20.4 million barrels of crude and refined products a month on average in 2021 from Russia, about 8% of U.S. liquid fuel imports, according to the Energy Information Administration (EIA).

Well that's weird. Seran assured us it was only 1%, and even THAT number was already too high. Where do you get your "facts" from, Seran? Directly from the White House?

20.4 million barrels A MONTH, and Seran said the US wouldn't be impacted by Biden shutting down oil imports from Russia because he released a whole 30 million barrels. Those 30 million barels are gonna be all used up in less than 1.5 months due to the deficit Biden just created for us. After that we're looking at almost a 10% deficit. If you don't think gas prices in the US are going to shoot up within the next few weeks then you're dumb.

The US very well might be paying more for gas than Europe in a few months. And it's crazy because the US has a mega fuckton of oil in the ground. If only Democrats would let us pump it out of the ground so they could stop hurting American families.

[~Rocktar~]

Hmmm......................

https://www.reuters.com/business/energy/us-europeans-discussing-banning-russian-oil-imports-blinken-says-2022-03-06/



Well that's weird. Seran assured us it was only 1%, and even THAT number was already too high. Where do you get your "facts" from, Seran? Directly from the White House?

20.4 million barrels A MONTH, and Seran said the US wouldn't be impacted by Biden shutting down oil imports from Russia because he released a whole 30 million barrels. Those 30 million barels are gonna be all used up in less than 1.5 months due to the deficit Biden just created for us. After that we're looking at almost a 10% deficit. If you don't think gas prices in the US are going to shoot up within the next few weeks then you're dumb.

The US very well might be paying more for gas than Europe in a few months. And it's crazy because the US has a mega fuckton of oil in the ground. If only Democrats would let us pump it out of the ground so they could stop hurting American families.

Gotta push those electric vehicles so they buy Chinese made battery components and minerals from all over and then collapse our electric grid with increased demand because god knows we have been upgrading that over the last 40 years to meet demand as opposed to pushing CV and LED lights and efficient refrigerators. All to push an agenda and enslave the people more to the control of government.

[Tgo01]

Gotta push those electric vehicles

This really does seem like the goal in all of this. Biden couldn't very well just make gas prices skyrocket for no reason. Now he can say "It's not...where am I?...oh right! It's not my fault! It's Russia's fault for these high gas prices! And remember I just signed legislation that would help cover the cost of a new electric vehicle! That is to say as long as it was made with UNION LABOR! WINK WINK!"

[Seran]

President Biden announced a ban on any oil or gas imports from Russia this morning in conjunction with the United Kingdoms. The UK imports only 5-8% of its oil from Russia. Domestically, we important less than 200,000 barrels of oil per day from Russia, a number offset by the 30 million barrels of oil our President is making available from the Strategic Oil Reserve.

As expected, commodities traders went into a frenzy and WTI futures briefly surged past 7% before calming as the reality of our complete lack of an oil shortage set in.

Now, what does that mean for the world as the majority of our European allies aren't sharing in the import ban? Very little. The other major oil consumers of the world continue to take deliveries, but it sends a powerful message of solidarity with Ukraine.

Domestically the President has called out the energy conglomerates for not utilizing their existing oil and gas leases and warned them about using this as an excuse to price gouge at the expense of our nation. We shall see what comes next.

For those of you who are like Dreaven have no reading comprehension skills are confused by the difference of 200,000 barrels per DAY of crude oil and Dreaven's figure of 20M barrels of crude AND petroleum distillates. Per the EIA website, linked here: https://www.eia.gov/dnav/pet/pet_move_impcus_a1_NRS_epc0_im0_mbbl_a.htm, the US imported 72,608 barrels of CRUDE OIL for the entire year of 2021. Yes, 72,608,000 divided by 365 is less than 200,000 you dumb cuck. 30,000,000 divided by 198,926 barrels per day is FIVE MONTHS of supply of crude oil..

Please, get better at reading and arithmetic Dreaven, your posts are embarrassing.

[Tgo01]

Uh...Seran...you do realize a lot of those "refined products" are other types of fuels rights?

You do also realize that since we are no longer importing those "refined products" from Russia that we now have to find other sources for those "refined products" or just simply go without those products. You do realize that last option is impossible right?

Maybe I should take you off ignore. Laughing at you is one of the best things about the PC these days.

[Suppa Hobbit Mage]

Any day now we're going to start seeing Reagan's trickle down economics start working. Maybe fifty years from now the Trump tax cuts might do a something other than putting profits into the pockets of shareholders. Sure as hell can see the difference in the oilfield, capital investments catered under Donald Dump

I work in the tax industry. The VAST majority of American's benefitted from Donald Trump's tax cuts. You can go read about it yourself on the IRS website if you actually tried.

[Solkern]

I work in the tax industry. The VAST majority of American's benefitted from Donald Trump's tax cuts. You can go read about it yourself on the IRS website if you actually tried.


But isn’t that only in the short term?

[Parkbandit]

I work in the tax industry. The VAST majority of American's benefitted from Donald Trump's tax cuts. You can go read about it yourself on the IRS website if you actually tried.

The VAST Majority of BILLIONAIRES you mean...

[Suppa Hobbit Mage]

But isn’t that only in the short term?

I'm not sure I follow the question. Virtually every tax bracket had taxes reduced. So unless the law changes (like Biden wants to change it), people will continue to pay less in taxes and benefit from the Trump taxes law changes. Since we are a progressive tax, if you make more next year and hit another bracket, you'll pay more in taxes on all the dollars made in that next bracket than the last one. But it's still less taxes than before.

[Solkern]

I'm not sure I follow the question. Virtually every tax bracket had taxes reduced. So unless the law changes (like Biden wants to change it), people will continue to pay less in taxes and benefit from the Trump taxes law changes. Since we are a progressive tax, if you make more next year and hit another bracket, you'll pay more in taxes on all the dollars made in that next bracket than the last one. But it's still less taxes than before.

I’m not an expert in tax law at all, from what I remember, aren’t taxes going to rise in a few years? Correct me if I’m wrong please. I for one benefited from Trump’s tax cuts.

[Suppressed Poet]

Per the EIA website, linked here: https://www.eia.gov/dnav/pet/pet_move_impcus_a1_NRS_epc0_im0_mbbl_a.htm, the US imported 72,608 barrels of CRUDE OIL for the entire year of 2021. Yes, 72,608,000 divided by 365 is less than 200,000 you dumb cuck. 30,000,000 divided by 198,926 barrels per day is FIVE MONTHS of supply of crude oil..

Before you go on to criticize others and call them a dumb cuck, perhaps you should read your own posts. Did the US import 72,608 barrels for the entire year of 2021, or was it 72,608,000? Because, you know, there is a large numerical difference between those numbers…

[~Rocktar~]

373 BILLION barrels of oil under us, almost 3000 TRILLION cubic feet of natural gas. Most of which doesn't involve the Alaska wildlife and isn't offshore to worry about shore birds or some such. So, about that gas price and Biden's bullshit energy policy that hurts the poor the most. . .

https://notthebee.com/article/reminder-the-us-is-sitting-on-roughly-a-third-of-a-trillion-barrels-of-oil-and-about-3000-trillion-cubic-feet-of-natural-gas

[Seran]

I'm not sure I follow the question. Virtually every tax bracket had taxes reduced. So unless the law changes (like Biden wants to change it), people will continue to pay less in taxes and benefit from the Trump taxes law changes. Since we are a progressive tax, if you make more next year and hit another bracket, you'll pay more in taxes on all the dollars made in that next bracket than the last one. But it's still less taxes than before.

Temporary tax cuts with the majority going to corporations and billionaires. If the cuts focused on those making less than 400k, then we'd have a much much smaller deficit.

[Seran]

Uh...Seran...you do realize a lot of those "refined products" are other types of fuels rights?

You do also realize that since we are no longer importing those "refined products" from Russia that we now have to find other sources for those "refined products" or just simply go without those products. You do realize that last option is impossible right?

Maybe I should take you off ignore. Laughing at you is one of the best things about the PC these days.

Take a gander at how much refined products we export dude and you'll realize why the imports of refined distillates is meaninglessly. There is no shortage of oil currently being produced in the world, there is no shortage in the United States. Even if there was, the coordinated release of oil from the SPR was negotiated to offset. But speculators have ran up oil 80% in the past few months, all due to greed.

[~Rocktar~]

Temporary tax cuts with the majority going to corporations and billionaires. If the cuts focused on those making less than 400k, then we'd have a much much smaller deficit.

Orrrrrrr, you know, we could quit spending more money on welfare and entitlement programs that we take in via income tax and that would fix the deficit even faster with far less economic harm.

[Seran]

Before you go on to criticize others and call them a dumb cuck, perhaps you should read your own posts. Did the US import 72,608 barrels for the entire year of 2021, or was it 72,608,000? Because, you know, there is a large numerical difference between those numbers…

You're right, even though 72,608 is the number in thousands and 72,608,000 is literally in the same sentence of my post, it should be explained to the thick individuals who neither look at charts, nor read whole sentences. Good call.

[drumpel]

What an absolute joke. Didn't Trump pull out of the Iran deal back in 2017? And yet gas prices were just fine throughout Trump's entire presidency and didn't start soaring until shortly after president Disaster was sworn in?

It was about a month after Trump left office that gas jumped 25 cents in my area. It wasn't a gradual increase, it was just a 25 cent jump.

I think it had to do with the fact that Biden halted the pipeline from Canada to Nebraska and was working on reducing/stopping fracking and other such things with the oil industry in the States just after he got in office. Ever since then gas has been slowly moving up more and more.

I enjoyed the $1.80-$1.90 gas price the last few years Trump was in office.

[Parkbandit]

But speculators have ran up oil 80% in the past few months, all due to greed.

Tell us you know nothing about oil pricing without telling us you know nothing about oil pricing.

[Gelston]

https://upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Keystone-pipeline-route.svg/1920px-Keystone-pipeline-route.svg.png

That is the KEystone Pipeline. That green part is the Keystone XL. That is the only part that was canceled. Nebraska still gets gas.

[Neveragain]

Orrrrrrr, you know, we could quit spending more money on welfare and entitlement programs that we take in via income tax and that would fix the deficit even faster with far less economic harm.

The average taxpayer pays less than 4 dollars a month for Americas welfare programs.


In 2012, the average American taxpayer making $50,000 per year paid just $36 towards the food stamps program and about $6 per year for the rest of the social safety net programs. Republicans say this is too much — cut it!

https://www.desmoinesregister.com/story/opinion/readers/2016/05/26/how-much-does-welfare-cost-average-taxpayer/84917512/


Corporate welfare, however, costs the average American family a staggering $6,000 a year in subsidies

[Parkbandit]

The average taxpayer pays less than 4 dollars a month for Americas welfare programs.

https://www.desmoinesregister.com/story/opinion/readers/2016/05/26/how-much-does-welfare-cost-average-taxpayer/84917512/

Relax, no one is taking away your "retirement"...

[Methais]

For those of you who are like Dreaven have no reading comprehension skills are confused by the difference of 200,000 barrels per DAY of crude oil and Dreaven's figure of 20M barrels of crude AND petroleum distillates. Per the EIA website, linked here: https://www.eia.gov/dnav/pet/pet_move_impcus_a1_NRS_epc0_im0_mbbl_a.htm, the US imported 72,608 barrels of CRUDE OIL for the entire year of 2021. Yes, 72,608,000 divided by 365 is less than 200,000 you dumb cuck. 30,000,000 divided by 198,926 barrels per day is FIVE MONTHS of supply of crude oil..

Please, get better at reading and arithmetic Dreaven, your posts are embarrassing.

Know how I know that everything in this post is wrong? Because everything you post is wrong and retarded with no exceptions.

[~Rocktar~]

The average taxpayer pays less than 4 dollars a month for Americas welfare programs.



https://www.desmoinesregister.com/story/opinion/readers/2016/05/26/how-much-does-welfare-cost-average-taxpayer/84917512/

Good thing I didn't just say welfare. Reading comprehension fail.

I put it all into entitlement spending which is wealth redistribution plain and simple.

Despite increased military spending and so on, about 3/5ths of all the Federal budget it spent on welfare and entitlement programs.

https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

And according to this break down, https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

About 49% of Federal income is from income taxes. So, 3/5ths of the budget is about 60% and income tax makes up about 49% my statement is true.

[Neveragain]

Relax, no one is taking away your "retirement"...

Continue being bitter over people that are more successful than you.

[Neveragain]

Good thing I didn't just say welfare. Reading comprehension fail.

I put it all into entitlement spending which is wealth redistribution plain and simple.

Despite increased military spending and so on, about 3/5ths of all the Federal budget it spent on welfare and entitlement programs.

https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

And according to this break down, https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

About 49% of Federal income is from income taxes. So, 3/5ths of the budget is about 60% and income tax makes up about 49% my statement is true.

What parts do you want to cut:

https://media.nationalpriorities.org/uploads/presidents_fy_2022_discretionary-logo_large.png

[Seran]

The average taxpayer pays less than 4 dollars a month for Americas welfare programs.



https://www.desmoinesregister.com/story/opinion/readers/2016/05/26/how-much-does-welfare-cost-average-taxpayer/84917512/

I don't think the truth factors into Rocktards comprehension.

[Parkbandit]

Continue being bitter over people that are more successful than you.

https://c.tenor.com/7NdBVF53PM4AAAAC/laughing-rofl.gif

There isn't a single metric where this is actually true.

At all.

Stop.

[Neveragain]

I don't think the truth factors into Rocktards comprehension.

Neo-cons are amongst the most brainwashed in American society. They have never seen a poor person they don't want to step on or a bomb they didn't want to buy.

[Seran]

Good thing I didn't just say welfare. Reading comprehension fail.

I put it all into entitlement spending which is wealth redistribution plain and simple.

Despite increased military spending and so on, about 3/5ths of all the Federal budget it spent on welfare and entitlement programs.

https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

And according to this break down, https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

About 49% of Federal income is from income taxes. So, 3/5ths of the budget is about 60% and income tax makes up about 49% my statement is true.

Wealth redistribution, a label placed on federal entitlement programs by the Republicans that prevent seniors and the disabled from starving to death or being on the streets. Programs which guarantee medical treatment to the indigent.

Look at your own link, 1.3 trillion dollars is the amount of tax breaks mostly benefiting the wealthy and corporations. Nearly half that of what is spent make sure your grandma isn't having to eat cat food on the street.

The doomsday scenarios about taxing corporations that were used by Republicans and Trump to cut corporate taxes to the abysmal rates that they are now are what are driving up massive deficit numbers in a period of massive economic growth.

[Suppa Hobbit Mage]

What parts do you want to cut:

https://media.nationalpriorities.org/uploads/presidents_fy_2022_discretionary-logo_large.png

That's disingenuous. Show the total budget. You know, the one where federal spending is 7 trillion

[Neveragain]

https://www.statista.com/graphic/1/262742/countries-with-the-highest-military-spending.jpg

[Neveragain]

That's disingenuous. Show the total budget. You know, the one where federal spending is 7 trillion

I'm just using the same statistics that Rocktar posted.

[drumpel]

https://www.statista.com/graphic/1/262742/countries-with-the-highest-military-spending.jpg

Hey now, it costs a lot to make agents like Jason Bourne. He was a malfunctioning $30 million weapon and that was 20 years ago. Something similar would be closer to $50mil today. This stuff is costly. Don't you dare tell the government they're just wasting money and over spending! Ah....the nerve of some people!

https://media.giphy.com/media/okRNb4RAVGQKc/giphy.gif

[Seran]

Oil prices are down 6% as market sanity begins to kick back in. MSNBC has an informative editorial on just how disingenuous attempting to blame President Biden for today's oil prices are.


“Joe Biden caused this and doesn’t seem to care,” Nathan Brand, the Republican National Committee’s deputy communications director, tweeted Tuesday about the new record. The party’s rapid response director, Tommy Pigott, captioned a 2019 video of Biden pledging to end fossil fuel with, “The pain at the pump is the point.” Sen. John Barrasso, R-Wyo., who co-sponsored a GOP bill to cut off Russian oil, was one of several elected Republicans demanding that Biden “take the shackles off American energy.”

In the race to politically exploit the high cost of gas, Republicans are banking on voters not caring that they’re lying through their teeth about how much of this is Biden’s fault. The president does not, as they would have you believe, have a dial in the Oval Office that he uses to set gas prices. Meanwhile, suggested fixes the GOP has offered up would do nothing to shrink Americans’ costs, which suits them just fine for now.


But is there anything to the idea that Biden’s policies so far have blocked the U.S. from producing and importing even more oil? Well, not really. The death of the Keystone XL pipeline from Canada is a favorite talking point for Republicans, but that pipeline wasn’t even scheduled to be operational until next year, which would have no impact on today’s gas prices. Likewise, Biden’s pause on licensing new federal lands for drilling, which was overturned in court, didn’t stop those licenses already issued from being used; there are also 9,000 approved permits that haven’t been used yet.

https://www.msnbc.com/opinion/msnbc-opinion/record-high-gas-prices-are-not-joe-biden-s-fault-n1291238

[Parkbandit]

Oil prices are down 6% as market sanity begins to kick back in. MSNBC has an informative editorial on just how disingenuous attempting to blame President Biden for today's oil prices are.

https://www.msnbc.com/opinion/msnbc-opinion/record-high-gas-prices-are-not-joe-biden-s-fault-n1291238

This is why you have never have any idea what you are talking about. You get your "information" from MSNBC opinion pieces.

Fucking dumbass.

[Tgo01]

Oil prices are down 6% as market sanity begins to kick back in.

LMAO!

The trading day has barely begun. Maybe give it a week or two before declaring some sort of victory. Even if by some miracle it stays at 6% lower and we have already hit the peak, gas is still twice as much now as it was when president Disaster was sworn in.

You are such a clown. Do you do birthday parties?

[Seran]

LMAO!

The trading day has barely begun. Maybe give it a week or two before declaring some sort of victory. Even if by some miracle it stays at 6% lower and we have already hit the peak, gas is still twice as much now as it was when president Disaster was sworn in.

Oh hey look, oil prices are now down 11% after the UAE following a Biden team outreach is supporting a production increase. I guess the 'disaster' you're referring to is oil prices going down and Americans seeing relief?

Oil Prices Crash By 11% As UAE Calls On OPEC To Open The Taps


UAE Ambassador to Washington says his country favours production increases and will encourage OPEC to consider higher production levels.

https://oilprice.com/Energy/Crude-Oil/Oil-Prices-Crash-By-11-As-UAE-Calls-On-OPEC-To-Open-The-Taps.html

[Methais]

Oil prices are down 6% as market sanity begins to kick back in. MSNBC has an informative editorial on just how disingenuous attempting to blame President Biden for today's oil prices are.





https://www.msnbc.com/opinion/msnbc-opinion/record-high-gas-prices-are-not-joe-biden-s-fault-n1291238

You realize that MSNBC is like Fox News for the left, but even more slanted, right?

Imagine posting an MSNBC opinion piece link unironically after constantly berating anyone who disagrees with you for "Watching Fox News all day," despite Seran, ironically enough, being the only one here who actually watches Fox news.


I can't process this not being a troll and that someone is really this stupid by accident, even though deep down I know that Seran is really this stupid because he doesn't have the creativity nor the willpower to successfully troll.

[Methais]

LMAO!

The trading day has barely begun. Maybe give it a week or two before declaring some sort of victory. Even if by some miracle it stays at 6% lower and we have already hit the peak, gas is still twice as much now as it was when president Disaster was sworn in.

You are such a clown. Do you do birthday parties?

Seran doesn't know when his actual birthday is because his parents, being smart people and all, dumped him at a fire station after they saw what his mom shit out.

Probably.

[drumpel]

Seran doesn't know when his actual birthday is because his parents, being smart people and all, dumped him at a fire station after they saw what his mom shit out.
Probably.

When that law went live in NE, people thought the law meant they could dump their kid (of any age) at the local hospitals/police/fire stations.....there's a story of a families that dropped off their teenage kids (found the story: https://www.sfgate.com/nation/article/Families-dump-teens-under-new-safe-haven-law-3267153.php )

Maybe Seran's problem, his parents tried to abandon him as a teenage because they were so feed up with his bullshit and since then he's been spreading his BS anywhere folks will give him attention.

[Methais]

there's a story of a families that dropped off their teenage kids

Seran's dad was like:

https://i.imgur.com/i3ApATb.jpg

[Parkbandit]

When that law went live in NE, people thought the law meant they could dump their kid (of any age) at the local hospitals/police/fire stations.....there's a story of a families that dropped off their teenage kids (found the story: https://www.sfgate.com/nation/article/Families-dump-teens-under-new-safe-haven-law-3267153.php )

Maybe Seran's problem, his parents tried to abandon him as a teenage because they were so feed up with his bullshit and since then he's been spreading his BS anywhere folks will give him attention.

Seran and a few others here are why I am staunchly pro-choice.

No one should be saddled with a Seran.

No one.

[Seran]

Hey look, oil is closing down almost $14 dollars a barrel, roughly 12% for the day. Republicans must he in a meltdown given the effective diplomacy and leadership from the current president.

[Shaps]

So let me get this straight...

Seran is applauding the fact that oil/gas has gone down... even though it's actually gone up under Biden?

That's like totaling a Porsche and then giving someone an Kia... sure it's still a car, but... ya know?

Biden caused the problem dipshit... fixing your own fuckups is not something to applaud... but you keep doing you buddy.

P.S. This reminds me of a schtick some comedian has (I can't recall who's set it was)... but the gist is people getting credit for doing what a normal person does... ie. "I paid my kids child support this month! (yay!)"... "Motherfucker, you're SUPPOSED to pay your kids child support! Why you want credit for something your SUPPOSED to do!"

[Tgo01]

Seran is applauding the fact that oil/gas has gone down... even though it's actually gone up under Biden?

Seran when oil is at an all time high, more than doubled since president Disaster was sworn in: IT'S NOT BIDEN'S FAULT, YOU BIGOTS!!!
Seran when oil drops 6%, even though oil is still almost doubled since president Disaster was sworn in: THANK BIDEN FOR LOWERING THE PRICE OF OIL, YOU BIGOTS!

[Parkbandit]

Seran when oil is at an all time high, more than doubled since president Disaster was sworn in: IT'S NOT BIDEN'S FAULT, YOU BIGOTS!!!
Seran when oil drops 6%, even though oil is still almost doubled since president Disaster was sworn in: THANK BIDEN FOR LOWERING THE PRICE OF OIL, YOU BIGOTS!

Sad part is: He actually believes the stupidity he posts.

[Alfster]

Neo-cons are amongst the most brainwashed in American society. They have never seen a poor person they don't want to step on or a bomb they didn't want to buy.

Untrue. Generally only the ones they're not seeing in a mirror. That's what's the most ridiculous to me, voting against their own self interest.

[Alfster]

So let me get this straight...

Seran is applauding the fact that oil/gas has gone down... even though it's actually gone up under Biden?

That's like totaling a Porsche and then giving someone an Kia... sure it's still a car, but... ya know?

Biden caused the problem dipshit... fixing your own fuckups is not something to applaud... but you keep doing you buddy.

P.S. This reminds me of a schtick some comedian has (I can't recall who's set it was)... but the gist is people getting credit for doing what a normal person does... ie. "I paid my kids child support this month! (yay!)"... "Motherfucker, you're SUPPOSED to pay your kids child support! Why you want credit for something your SUPPOSED to do!"

Did we not expect oil to go up when the world collectively stopped traveling for years, and suddenly had a demand again?

What exactly has Biden done? I'm honestly asking cuz all I can find is people blaming Biden but unable to explain what he's done.

[Seran]

Did we not expect oil to go up when the world collectively stopped traveling for years, and suddenly had a demand again?

What exactly has Biden done? I'm honestly asking cuz all I can find is people blaming Biden but unable to explain what he's done.

Don't expect a real answer. Check Reuters, Bloomberg, Fox News, whatever you want and no one has an answer beyond, "Biden needs to support the oil industry." That's about as non answer as you'll get.

[Neveragain]

Untrue. Generally only the ones they're not seeing in a mirror. That's what's the most ridiculous to me, voting against their own self interest.

By the end of the week we will be spending 52 billion more a year on military as well as sending the Ukraine 15 billion. Both the neo-liberals and neo-cons are in full agreement.


Kind of seems to me the majority of people are voting against their best interests.

[Parkbandit]

Did we not expect oil to go up when the world collectively stopped traveling for years, and suddenly had a demand again?

What exactly has Biden done? I'm honestly asking cuz all I can find is people blaming Biden but unable to explain what he's done.

You aren't being honest at all... but I'll give it a go:

You could go through his Executive Orders: https://www.federalregister.gov/presidential-documents/executive-orders/joe-biden/2021 Anything that has to do with "Energy" or "Climate Crisis" will probably negatively impact the oil/gas industry.

It's not like he kept this some sort of secret during the campaign leading up to it.

How is this such a shock to anyone?

[Parkbandit]

Don't expect a real answer. Check Reuters, Bloomberg, Fox News, whatever you want and no one has an answer beyond, "Biden needs to support the oil industry." That's about as non answer as you'll get.

It's still better than your "US OIL PRODUCERS FAIL TO PRODUCE ENOUGH" to "OMG THE OIL PROFITS ARE JUST GREEDY!" to "OMG BIDEN LOWERED THE PRICE OF OIL TODAY BY 12%"

You are literally the last person who should criticise anyone for anything.

[~Rocktar~]

What parts do you want to cut:

https://media.nationalpriorities.org/uploads/presidents_fy_2022_discretionary-logo_large.png

Tell me you don't understand how the budget works without telling me you don't understand how a budget works.

[Seran]

It's still better than your "US OIL PRODUCERS FAIL TO PRODUCE ENOUGH" to "OMG THE OIL PROFITS ARE JUST GREEDY!" to "OMG BIDEN LOWERED THE PRICE OF OIL TODAY BY 12%"

You are literally the last person who should criticise anyone for anything.

Biden, OPEC, the entirety of Congress and really anyone who drives a car who isn't you or a Conservashit thinks we need more oil and yet where is it? President is doing what he can through the SPR, but you idiots act like he's got a dial to magically make the oil companies start pumping.

[Seran]

Some Much Needed Substance On The Russian Oil Debate


Now we are looking high and low for replacements in a lot of places with less than savory reputations, and some under U.S. sanctions currently. As I have explained in various places recently, oil companies need blending stock to improve the API gravity of the throughput from their refineries. As the BTU Analytics graph below shows, the major fracking basins that produce most of the ~9 mm BOPD that we rely upon, produce very little of this heavy oil. That’s just life.


What this means though is that we have to replace like for like in terms of API gravity oil, and once again therein lies the rub. Nations that the president is contacting to ease the strain on American motorists include: Venezuela, Saudi Arabia, and Iran. What is the likelihood of our "friends" in these far-flung places coming to our rescue?


California, namely the southern Central Valley is home to the lowest API "the dirtiest" crude oil in the world. My home town's oil reserves at an API of 13 for Kern River and Midway-Sunset are estimated at somewhere near 600-750 million barrels depending on where you source (Wikipedia, versus California DOE) and yet it is completely left out of this list. Why? Because the majority of those wells have been idled for the past 10-15 years due to low oil prices and and two of our three chief refineries shutting down. Russian crude meanwhile, sits near an API of 35 and is cited as the "heavy crude" needed for American refineries. So an honest person might say, if we're important 400-600,000 barrels of medium grade crude, why not un-idle any of the approximately 7,600 idle wells. https://www.latimes.com/projects/california-oil-well-drilling-idle-cleanup/ makes the answer pretty clear: liability. Sitting at estimates costs pushing past 500 million dollars to cap and remediate the wells once they're official exhausted, no oil producer wants to inherit the liability from Chevron, Occidental, Elk Hills or a handful of others. You may hear Kevin McCarthy who was my representative blame Gavin Newsom for not approving drilling "new wells" and for good reason, large swaths of California have been left as wastelands. https://e360.yale.edu/assets/site/_1500x1500_fit_center-center_80/MidwaySunsetOilFieldCalifornia_MarkRalstonAFPGetty Images_2000.jpg

"OMG OIL PROFITS ARE JUST GREEDY" isn't the half of it. The oil companies have billions of dollars available for remediation they will never do and access to oil they never intend on making available because doing so will hurt their profits.

[Neveragain]

Tell me you don't understand how the budget works without telling me you don't understand how a budget works.

That's literally the same pie chart from the page you referenced, the only difference is the one you posted is from 2021.

Which parts do you want to cut Rocktar, because we all know you're more than willing to piss away tax dollars on war?

[Neveragain]

Rocktar is like that evil dictator in all those shitty 80's movies that has a huge military while all his subjects are starving to death.

https://hips.hearstapps.com/digitalspyuk.cdnds.net/11/50/movies_the_dictator.jpg

[Parkbandit]

Biden, OPEC, the entirety of Congress and really anyone who drives a car who isn't you or a Conservashit thinks we need more oil and yet where is it? President is doing what he can through the SPR, but you idiots act like he's got a dial to magically make the oil companies start pumping.

You went from "BIDEN HAS NO EFFECT ON THE PRICE OF GAS! IT'S BECAUSE THE OIL COMPANIES ARE NOT PRODUCING ENOUGH!" to "BIDEN HAD THE EFFECT ON OIL TO LOWER IT BY 12%!" in a timespan of a week.

Relax. No one is even close to your title.

Don't burn yourself out by trying to out retard yourself.

Save it for the next challenger.

[~Rocktar~]

That's literally the same pie chart from the page you referenced, the only difference is the one you posted is from 2021.

Which parts do you want to cut Rocktar, because we all know you're more than willing to piss away tax dollars on war?

It's literally you not understanding that discretionary spending is not the only spending that can be changed in the budget dumbass. And no, I don't want war, have been arguing against war all along so make up some other bullshit. Though if it comes to paying for the defense budget or welfare, I am for defense first. All of the budget needs shrunk, all of it and loads of it need to go away completely.

[Seran]

You went from "BIDEN HAS NO EFFECT ON THE PRICE OF GAS! IT'S BECAUSE THE OIL COMPANIES ARE NOT PRODUCING ENOUGH!" to "BIDEN HAD THE EFFECT ON OIL TO LOWER IT BY 12%!" in a timespan of a week.

Relax. No one is even close to your title.

Don't burn yourself out by trying to out retard yourself.

Save it for the next challenger.

Haha, you're a worthless troll. I pity you.

[Parkbandit]

Haha, you're a worthless troll. I pity you.

Tell me which part of it isn't true?

It's all here in this very thread. You started it out by claiming that oil producers aren't producing enough oil. Then when the price was spiking, you claimed that Biden has no control over the price.. that it's the oil companies that are just being greedy... then when the price drops in one day, you claimed that it was all Biden's doing.

Literally in this very thread.

You have no idea what you are talking about on any subject and just regurgitating what you heard on MSNBC... but the problem is: you keep contradicting yourself... especially when you are called out on your stupidity.

You aren't trolling.. you are literally this.fucking.stupid. to believe it as you are posting it.. but then when it's read back to you.. "OMG U R TROLLING!"

[Methais]

Did we not expect oil to go up when the world collectively stopped traveling for years, and suddenly had a demand again?

What exactly has Biden done? I'm honestly asking cuz all I can find is people blaming Biden but unable to explain what he's done.

Remember how we were energy independent until Biden got into office, and now we're not? Probably has something to do with that.

[Methais]

Don't expect a real answer. Check Reuters, Bloomberg, Fox News, whatever you want and no one has an answer beyond, "Biden needs to support the oil industry." That's about as non answer as you'll get.

You sure to read/watch Fox News a lot. Why is that?


Only someone like you is stupid and full of shit enough to yell FOX NEWS!!!!! anytime you disagree with someone, just before posting an opinion piece from MSNBC and presenting it as fact, completely oblivious to the irony of your own ultra stupidity.

[Tgo01]

Hey Seran, oil is up again today.

[Parkbandit]

Hey Seran, oil is up again today.

"BIDEN HAS NO CONTROL OVER THE PRICE OF OIL!!!!!!!!!!!!!!!!!!!!!! FUCKING OIL COMPANIES ARE JUST GREEEEEDY!" - Seran later today.

[Methais]

I'd like to make a side wager that Seran will pivot to THIS IS DUE TO TRUMP'S POLICIES FINALLY TAKING EFFECT!!!!!!!!!!!!!!!!!

[Neveragain]

Though if it comes to paying for the defense budget or welfare, I am for defense first.

Sounds reasonable.

https://www.statista.com/graphic/1/262742/countries-with-the-highest-military-spending.jpg

[Seran]

Hey Seran, oil is up again today.

Down 1.5%. Weren't you just bitching about making predictions so early after market opening?

[Tgo01]

Down 1.5%. Weren't you just bitching about making predictions so early after market opening?

So now you admit it's dumb to declare some sort of victory a few hours after we have seen the highest oil prices ever in the history of the world?

Maybe idiots can be learn.

Hey Seran, oil is still almost twice as high today as it was when president Disaster was sworn in.

[Parkbandit]

So now you admit it's dumb to declare some sort of victory a few hours after we have seen the highest oil prices ever in the history of the world?

No. That would require self awareness. He has none.


Maybe idiots can be learn.

Idiots can learn.

Seran is a retard.

Retards cannot learn.


Hey Seran, oil is still almost twice as high today as it was when president Disaster was sworn in.

"THAT IS BECAUSE OIL COMPANIES ARE JUST GREEDY!"

[Seran]

So now you admit it's dumb to declare some sort of victory a few hours after we have seen the highest oil prices ever in the history of the world?

Maybe idiots can be learn.

Hey Seran, oil is still almost twice as high today as it was when president Disaster was sworn in.

Pointing out your hypocrisy is all and that you were wrong ofc.

Oil prices are up since President Biden took office, you're correct! A massive increase in demand as our country recovers from Covid-19 had prices up at $71 in December. Now they're up to $108 as you know...Russia is invading another country, has been using energy all along as a weapon. Hardly surprising. What is surprising is your complete brain death over thinking Biden is responsible for Russia being run by a megalomaniac trying to seize his third country since coming into power.

[Methais]

Pointing out your hypocrisy is all and that you were wrong ofc.

Oil prices are up since President Biden took office, you're correct! A massive increase in demand as our country recovers from Covid-19 had prices up at $71 in December. Now they're up to $108 as you know...Russia is invading another country, has been using energy all along as a weapon. Hardly surprising. What is surprising is your complete brain death over thinking Biden is responsible for Russia being run by a megalomaniac trying to seize his third country since coming into power.

The best part of your bullshit is how you bend over backwards to ignore the part where we were energy independent until Biden took office, and now we're not.

I'm not sure if it's because you're just stupid or full of shit, because 99% of the time you're usually both, so I'll just assume that it's both today too.

[Seran]

Here's another great article showing the massive disparity between publicly traded, large oil companies trying to maintain prices by limiting demand, choosing to avoid capital expenditures in order to pay themselves out. Versus small oil exploration companies who want to take advantage of prices to grow.


Majors such as Pioneer Natural Resources, Devon Energy, and Diamondback Energy have already said they have no plans to boost production in any meaningful way. Instead, they will focus on shareholder returns.

The chief executive of Pioneer Natural Resources put it quite bluntly last month in an interview with Bloomberg. "Whether it's $150 oil, $200 oil, or $100 oil, we're not going to change our growth plans," Scott Sheffield said. "If the president wants us to grow, I just don't think the industry can grow anyway."


Private drillers, on the other hand, have no shareholders to make happy. They do not have the constraints of their public sector players. And they are drilling. The Energy Information Administration said in its last Short-Term Energy Outlook that U.S. crude oil production could hit 12.6 million bpd on average next year: a record high.

https://oilprice.com/Energy/Energy-General/110-Oil-Prompts-Private-Shale-Firms-To-Open-The-Taps.html

To put into context, we have the responses of other major oil producers on limiting supply or panicking over rising supply.


ConocoPhillips’ Ryan Lance earlier this month said he was concerned about the rate of growth in U.S. shale oil production. During a conference call, Lance said Conoco forecast an increase of 900,000 bpd in U.S. oil production this year, adding that “If you’re not worried about it you should be,” as quoted by Bloomberg.

When asked about production targets for 2022 during a January earnings call, ExxonMobil CEO Darren Woods responded, “The primary objectives we’ve had in looking at the portfolio is less about volume and volume targets and more about the quality and profitability of the barrels that we’re producing.”

That has become the mantra throughout the oil industry, Molchanov said.

“Because of the industry’s strong emphasis on capital discipline, reaching peak production should be realistic in 2023, but not before then,” he said. “And it’s never going to grow at a rapid rate ever again. The days of US oil supply growing double digits on sustainable basis, those years are gone.”

The major disconnect between the major oil companies who have consolidated to buy out competitors and how new competitors are increasing supply underscores the President's push to investigate the majors for price manipulation

[Tgo01]

Why should oil producers pump out more oil? They just get demonized by Democrats and as soon as a Democrat worms his way into the White House the first thing they do is make life more difficult and more expensive for oil producers.

Maybe if Democrats actually cared about helping the poor and middle classes they would stop giving away billions of dollars to people to stay at home, stop talking about forgiving hundreds of billions of dollars in school loans that people willingly took out, and stopped giving away tens of billions of dollars to other countries, and instead used that money for incentives to oil companies to pump more oil and opened up more areas for drilling?

But naww! That's something that would actually help working Americans! We gotta pay lip service to the alt-leftists such as Seran!

[Seran]

Oopsy, oil prices are down more than two percent today, more good news for the President whose done everything he can to drum up support for more oil production internationally. Meanwhile, the major oil producers domestically keep saying they won't be able to bring online more production this year, despite their idling more than one million barrels per day from domestic production peaks before the pandemic.

Republicans and companies like ExxonMobil and ConocoPhillips are just lying through their teeth about the problem and their lack of ability to resolve the problem. Guess they're gonna have to suck up their fee fees and decide whether or not they want to help reduce prices for Americans or not.

[beldannon5]

2percent WOOO! you left off the part on how much they are up since Biden took over though aren't you?

[Methais]

Why should oil producers pump out more oil? They just get demonized by Democrats and as soon as a Democrat worms his way into the White House the first thing they do is make life more difficult and more expensive for oil producers.

Maybe if Democrats actually cared about helping the poor and middle classes they would stop giving away billions of dollars to people to stay at home, stop talking about forgiving hundreds of billions of dollars in school loans that people willingly took out, and stopped giving away tens of billions of dollars to other countries, and instead used that money for incentives to oil companies to pump more oil and opened up more areas for drilling?

But naww! That's something that would actually help working Americans! We gotta pay lip service to the alt-leftists such as Seran!

Won't you please think of Seran's feeeeeeelings, you bigot?

[Alfster]

Gas down to 3.79 today. Glad I filled up yesterday at 3.89 lol

[Realk]

Gas down to 3.79 today. Glad I filled up yesterday at 3.89 lol

DFW did the reverse 3.99 yesterday ... 4.29 today.

I filled up the evening on the first day of the Ukraine thing and it was 3.16 I live only 10 miles from work and I am thankful for that.

[Alfster]

Maybe if Democrats actually cared about helping the poor and middle classes they would stop giving away billions of dollars to people to stay at home

Yes. That Democrat named trump who locked down the country.

[Gelston]

Yes. That Democrat named trump who locked down the country.

Wut? No President locked down anything. It was primarily Democrat governors imposing the strictest measures though.

[Tgo01]

Yes. That Democrat named trump who locked down the country.

Trump didn't lock down shit.

[Parkbandit]

Gas down to 3.79 today. Glad I filled up yesterday at 3.89 lol

Maybe just get a better paying job?

[Seran]

2percent WOOO! you left off the part on how much they are up since Russia took over Ukraine though aren't you?

Fixed this for you.

[Methais]

I filled up the evening on the first day of the Ukraine thing and it was 3.16

https://c.tenor.com/jg1yipA4-jIAAAAM/stone-cold-steve-austin-beer-bash.gif

[Neveragain]

.25% interest rate with the current inflation rate:

https://media1.giphy.com/media/XUFPGrX5Zis6Y/giphy.gif

[Tgo01]

Hey, Seran, oil closed up yesterday and is currently up today.

This is why you don't look at the prices a couple of hours after the markets open after oil hit an all time high in the history of the world, and say stupid shit like: LOOK! Oil is down! Told you Biden would pull through for us!

Fucking dumb shit.

[Parkbandit]

Hey, Seran, oil closed up yesterday and is currently up today.

This is why you don't look at the prices a couple of hours after the markets open after oil hit an all time high in the history of the world, and say stupid shit like: LOOK! Oil is down! Told you Biden would pull through for us!

Fucking dumb shit.

You post this as if Seran doesn't like to look stupid.

Bro...

[Tgo01]

You post this as if Seran doesn't like to look stupid.

Bro...

True. Everyone is good at something, I suppose we should applaud Seran for finding his purpose in life: being a complete dipshit for the amusement of others.

[Seran]

Hey, Seran, oil closed up yesterday and is currently up today.

This is why you don't look at the prices a couple of hours after the markets open after oil hit an all time high in the history of the world, and say stupid shit like: LOOK! Oil is down! Told you Biden would pull through for us!

Fucking dumb shit.

Really what I think you mean to day is oil closed at $106 dollars yesterday, sharply down and in today's trading is up around 3% to $109.

As for an all time high, you might want to realize the all time high was $147.27 in January 2008. But I understand how facts are confusing for your party.

https://tradingeconomics.com/commodity/crude-oil

[Methais]

Really what I think you mean to day is oil closed at $106 dollars yesterday, sharply down and in today's trading is up around 3% to $109.

As for an all time high, you might want to realize the all time high was $147.27 in January 2008. But I understand how facts are confusing for your party.

https://tradingeconomics.com/commodity/crude-oil

Speaking of facts that you don't like:

https://i.imgur.com/z1vWvnN.png

Tell us more about how it's all Putin's fault.

[Seran]

Oil prices fell another 6% today to close at $101.80. A news article from Oilprice.com highlighted how investment spectators are ditching high priced long term commodities futures as current events shape a more stable outlook.

As stated in the original posts, the ability for fund managers and day traders to buy and sell options for a fraction of the contract cost, without ever being able to take delivery is a fundamental problem. The lack of true supply disruption, demand which hasn't peaked, and a renewed worldwide effort to reduce petroleum needs highlights how the value of oil really hasn't changed.

Winners: Oil refiners selling gas prices priced for a longterm increase in wholesale oil.

Losers: The American people.

https://oilprice.com/Latest-Energy-News/World-News/Speculators-Massively-Cut-Their-Bullish-Bets-On-Oil.html

[beldannon5]

might be the only thing i have ever agreed with you about. We are defintly losing on these gas prices/oil.

[Parkbandit]

might be the only thing i have ever agreed with you about. We are defintly losing on these gas prices/oil.
https://c.tenor.com/XW-AE3pdPq4AAAAC/joe-biden-laugh.gif

[Seran]

What a difference a couple of weeks makes. Oil closed today under $96.00 barrel, another 7% slide and down overall 30% from it's highs. But what has changed? The United States oil producers really aren't making anymore oil, the Keystone XL pipeline is still in the rubbish bin and Russian oil is still banned in our country.

The market came to it's senses, realizing there is no shortage and that the world energy economy isn't going to shrivel up and die without Russia. This didn't stop oil producers and their Republican mouthpieces from trying to get massive promises and concessions, which ultimately were not needed. When they failed to produce, the rest of the world stepped up and our President and his team reached out to previous business partners to shore up direct supply for our country.

I'm sorry some unscrupulous traders used the futures market as a speculation lottery, hope they lost their asses. Sorry for the American people who lost and will continue to lose hundreds of dollars from their monthly budgets as a result of sensationalist trading.

I would like to point out some quiet changes were made in the last few days to combat the impact of speculation. Namely by increasing the margin, or upfront money traders had to put on the line to trade oil. It did a lot to cut out the legs of those spreading panic trying to make money on lower priced contracts they could sell at a profit.


(Bloomberg) -- The frenzied oil futures market is giving traders a new headache -- it now costs significantly more to trade the same amount of oil.

Initial margins, or the collateral that clearing houses require investors to put up to manage risk, have surged since Russia invaded Ukraine and oil prices skyrocketed to the highest levels in more than a decade.

As volatility surges with prices seeing some of their biggest swings on record, Intercontinental Exchange Inc. and CME Group Inc. have ramped up their margin requirements in an effort to mitigate market instability. The increases will act as a deterrent to speculative trading and likely lower activity, market participants said. Open interest in major oil contracts is already plunging.

CME Group has increased margin requirements for its U.S. crude and heating oil futures contracts four times since Feb. 23, the day before the invasion. Margins climbed to 9.7% of the notional contract size for front-month West Texas Intermediate futures and 8.3% for heating oil as of March 8.

https://www.google.com/amp/s/www.bnnbloomberg.ca/surging-oil-futures-margins-are-latest-challenge-facing-traders-1.1736306.amp.html

[drumpel]

What a difference a couple of weeks makes. Oil closed today under $96.00 barrel, another 7% slide and down overall 30% from it's highs. But what has changed? The United States oil producers really aren't making anymore oil, the Keystone XL pipeline is still in the rubbish bin and Russian oil is still banned in our country.

The market came to it's senses, realizing there is no shortage and that the world energy economy isn't going to shrivel up and die without Russia. This didn't stop oil producers and their Republican mouthpieces from trying to get massive promises and concessions, which ultimately were not needed. When they failed to produce, the rest of the world stepped up and our President and his team reached out to previous business partners to shore up direct supply for our country.

I'm sorry some unscrupulous traders used the futures market as a speculation lottery, hope they lost their asses. Sorry for the American people who lost and will continue to lose hundreds of dollars from their monthly budgets as a result of sensationalist trading.

I would like to point out some quiet changes were made in the last few days to combat the impact of speculation. Namely by increasing the margin, or upfront money traders had to put on the line to trade oil. It did a lot to cut out the legs of those spreading panic trying to make money on lower priced contracts they could sell at a profit.

Oh wow. Oil is down more.....

They why have the greedy fuckers at the pumps not dropped their prices? As soon as oil goes up, the gas stations immediately jump their prices. As oil prices fall, gas stays high for days or weeks after the prices drop. Shouldn't the prices drop with the fall of oil?

Since last week when oil hit that high of $112 a barrel or whatever it was and it pushed gas prices around me up to $4/gallon. You think the prices would have adjusted down some, even a little bit. Maybe 5-10 cents, but nope. Gas prices are still exactly where they were a week ago.

Regardless of what is being done now, why have gas prices only gone up since Biden took office? I mean, Biden has been in office for...2 years now? Will the price ever come down again to what they were before he took office or will the public always be screwed under his watch when it comes to gas prices?

[Seran]

Oh wow. Oil is down more.....

They why have the greedy fuckers at the pumps not dropped their prices? As soon as oil goes up, the gas stations immediately jump their prices. As oil prices fall, gas stays high for days or weeks after the prices drop. Shouldn't the prices drop with the fall of oil?

Since last week when oil hit that high of $112 a barrel or whatever it was and it pushed gas prices around me up to $4/gallon. You think the prices would have adjusted down some, even a little bit. Maybe 5-10 cents, but nope. Gas prices are still exactly where they were a week ago.

Regardless of what is being done now, why have gas prices only gone up since Biden took office? I mean, Biden has been in office for...2 years now? Will the price ever come down again to what they were before he took office or will the public always be screwed under his watch when it comes to gas prices?

They'll go down, slowly, but at a fraction of the pace they went up. Why? Profits. By squeezing out as much profit as possible at what customers are willing to pay, the business makes money. When competitors begin to lower prices to attract more buyers, prices will be forced to go lower. That is how the market is supposed to work anyways, a healthy amount of competition to drive innovation and efficiency to allow better prices. But where there's too little competition, usually through monopolies or price fixing arrangements, only the customers suffer.

And why are prices up under Biden? It's not a coincidence, they economy is cooking and people are making more money, so wholesalers and retailers are able to get away with more. The price of oil helped push prices up, though realistically the price we pay per gallon now is stupidly high versus what we paid per gallon in 2008 when oil was north of $140 a barrel.

In case that's tldr: Greed and price fixing. That's why all of the links were posted regarding supply and the massive crack spread over oil cost versus oil distillate prices.

[Alfster]

Oh wow. Oil is down more.....

They why have the greedy fuckers at the pumps not dropped their prices? As soon as oil goes up, the gas stations immediately jump their prices. As oil prices fall, gas stays high for days or weeks after the prices drop. Shouldn't the prices drop with the fall of oil?

Since last week when oil hit that high of $112 a barrel or whatever it was and it pushed gas prices around me up to $4/gallon. You think the prices would have adjusted down some, even a little bit. Maybe 5-10 cents, but nope. Gas prices are still exactly where they were a week ago.

Regardless of what is being done now, why have gas prices only gone up since Biden took office? I mean, Biden has been in office for...2 years now? Will the price ever come down again to what they were before he took office or will the public always be screwed under his watch when it comes to gas prices?

Ours went up to 3.89 and has been going down every day for the last week. Paid 3.74 yesterday

[Seran]

Here's President Biden overnight pointing out the massive disparity between the drop in oil prices versus the slow decline in gasoline prices. Something I've pointed out repeatedly, that gasoline producers and wholesalers are making bank by exploiting market conditions.


Biden fired off a tweet Wednesday morning highlighting the painfully slow decline in gasoline prices in a bid to draw scrutiny to a decades-long trend that critics say hurts consumers by failing to pass savings along to drivers.

"Oil prices are decreasing, gas prices should too," Biden said on Twitter. "Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it's $4.31. Oil and gas companies shouldn't pad their profits at the expense of hardworking Americans."

Gasoline stocks on the market today were created when oil was priced less than $90 a barrel, yet shot up 20-30% or more as oil prices skyrocketed due to misguided speculation on supply concerns. But as I said before, gas prices never come down the same way oil does, at least not as quickly.

Thank goodness we have a President who uses Twitter for something other than disparaging teenagers worried about climate change.

[Seran]

If you want a better idea of the extent of the gas price manipulation within the energy sector, take a look at this week's Energy Information Administration. Here's the excerpt via Oilprice.com:


Gasoline inventories shed 3.6 million barrels in the week to March 11, which compared with a decline of 1.4 million barrels for the previous week.

Gasoline production averaged 9.4 barrels daily last week, which compared with 9.6 million barrels daily a week earlier

The amount of gasoline produced domestically FELL while the amount of oil made available increased last week.

[Suppa Hobbit Mage]

If you want a better idea of the extent of the gas price manipulation within the energy sector, take a look at this week's Energy Information Administration. Here's the excerpt via Oilprice.com:



The amount of gasoline produced domestically FELL while the amount of oil made available increased last week.

Are you suggesting that a capitalistic enterprise targeted by the government isn't doing all it can to support said government? Odd how that works.

[Seran]

Are you suggesting that a capitalistic enterprise targeted by the government isn't doing all it can to support said government? Odd how that works.

Well they're not being targeted first of all. But if that is actually happening that is criminal market manipulation. Do you have any specific information you would like to share about their antitrust violation you're alleging?

[Suppa Hobbit Mage]

Well they're not being targeted first of all. But if that is actually happening that is criminal market manipulation. Do you have any specific information you would like to share about their antitrust violation you're alleging?

Just mixing it up. I like to respond to one in every 40ish of your dumb posts.

[Parkbandit]

Here's President Biden overnight pointing out the massive disparity between the drop in oil prices versus the slow decline in gasoline prices. Something I've pointed out repeatedly, that gasoline producers and wholesalers are making bank by exploiting market conditions.

Gasoline stocks on the market today were created when oil was priced less than $90 a barrel, yet shot up 20-30% or more as oil prices skyrocketed due to misguided speculation on supply concerns. But as I said before, gas prices never come down the same way oil does, at least not as quickly.

Thank goodness we have a President who uses Twitter for something other than disparaging teenagers worried about climate change.

Is this the same Joe Biden who claimed business owners could fix Bidinflation if they just didn't raise their prices?

I'm not surprised you think he's a genius... because you are really the dumbest person posting in any thread.

Do you believe that it's only gas that a gas station has to pay for? Your side screams for a "living wage!" and other perks.. that increases the prices not only for the gas to be delivered to the station, but the people who are inside responsible for selling it. Everything has increased in price, thanks to Bidinflation... is it a surprise to anyone with an IQ over 12 that the price is higher?

[Parkbandit]

Are you suggesting that a capitalistic enterprise targeted by the government isn't doing all it can to support said government? Odd how that works.

Joe Biden, as a candidate, said he would "transition away from the oil industry."

Joe Biden, as a candidate, said he would make sure there was "No more drilling on federal lands"

Joe Biden, as a candidate, said he would make sure there was "no more drilling, including offshore"

Joe Biden, as a candidate, said he would make sure there was "no ability for the oil industry to continue to dril, period, ends."

Joe Biden, as a candidate, said his plan would "take on the fossil fuel industry"

Joe Biden, as a candidate, said he would make sure there was "no more new fracking"

Joe Biden, as a candidate, said he would make sure that "no another coal plant will be built"

Seran the Retard says "I don't understand why the oil industry won't just work with President Biden and produce more, er I mean lower their prices"

[Suppressed Poet]

Don’t forget that the inflation is just “temporary”.

[Parkbandit]

Don’t forget that the inflation is just “temporary”.

That I agree with.... just get the liberals out of office and boom, fixed.

[Methais]

Here's President Biden overnight pointing out the massive disparity between the drop in oil prices versus the slow decline in gasoline prices. Something I've pointed out repeatedly, that gasoline producers and wholesalers are making bank by exploiting market conditions.



Gasoline stocks on the market today were created when oil was priced less than $90 a barrel, yet shot up 20-30% or more as oil prices skyrocketed due to misguided speculation on supply concerns. But as I said before, gas prices never come down the same way oil does, at least not as quickly.

Thank goodness we have a President who uses Twitter for something other than disparaging teenagers worried about climate change.

That's funny how you think Biden knows how to use Twitter and is making the actual tweets himself.

Retard.

[Seran]

I suspect this is going to have a major impact once the US based oil speculators realize such a large amount of oil priced at a 25% loss is displacing worldwide rates. To compete with supplying India's growing need, the Gulf or US based suppliers would have to offer a substantial price decrease, which won't happen. However this will have a significant impact on prices on the short to midterm due to the made up Russian oil loss speculation is revealed as fiction.


Reports suggest Russia will take care of shipping and insurance, two major hurdles before India due to high insurance rates and war risk premiums. The payment for such purchases can be made through a rupee-ruble arrangement.

India has, in any case, been trying to cut its oil dependence on the Gulf countries and diversify to Russia and the US.

The world’s third-largest crude importer has been traditionally buying Brent crude. But a nearly $25-discount for the Urals, Russia’s flagship crude blend, is lucrative enough for a shift.

https://qz.com/india/2142604/will-india-continue-to-import-crude-oil-from-russia/

[Tgo01]

Has Seran bothered to mention that since the oil "low" of 94.40 3 days ago that oil is now up 11%? Or does he only mention when oil drops on a minute basis?

[Methais]

Has Seran bothered to mention that since the oil "low" of 94.40 3 days ago that gas is now up 11%? Or does he only mention when oil drops on a minute basis?

"Oil went up by 50% last week, but it dropped .001% like 5 minutes ago, SEE GUYS I TOLD YOU SO OIL IS COMING DOWN AND IT'S TRUMP'S FAULT IT WENT UP IN THE FIRST PLACE!!!!!!!!" -Seran

[Seran]

Has Seran bothered to mention that since the oil "low" of 94.40 3 days ago that oil is now up 11%? Or does he only mention when oil drops on a minute basis?

Oil is still down 20% from its recent high and I just posted an article about pricing influences and why it'll be going back down again

[Parkbandit]

Oil is still down 20% from its recent high and I just posted an article about pricing influences and why it'll be going back down again

LOL.

How much is it up since President Biden took office though?

[Tgo01]

Hey, Seran, you forgot to mention that oil was up over 5% today and it's currently the second highest price it has ever been in the history of the world and it's less than 8% away from the highest it's ever been in the history of the world, both world records thanks to your president.

But I'm sure this was just an oversight on your part since you're so eager to jump and scream at everyone the second the price drops by 0.01%.

Once again: this is why you look at long term trends when it comes to things like oil prices and you don't wait 5 minutes after oil hits the highest in record and say "ZOMG LOOK! The price of oil is dropping! Thank Biden now, you bigots!"

Like this long term trend for example: Oil is way up ever since president Disaster wormed his way into the White House and demonstrably made life worse for just about every single human being on the planet. Yes, even uncontacted tribes have it worse now than they did in 2020.

[Shaps]

Why keep bothering... I've quit because it's just gotten so pathetic at this point. It's like beating a chained up dog, or small child. They can't defend themselves in any shape or form - so for me I stop swinging.

Take solace in the fact - they know it too, deep down inside, how badly they fucked up and were misinformed. They realize they are hollow shells for their puppet masters, whose hand is so far up their ass and playing them like a sock-puppet... /shrug

[Methais]

Why keep bothering... I've quit because it's just gotten so pathetic at this point. It's like beating a chained up dog, or small child. They can't defend themselves in any shape or form - so for me I stop swinging.

Take solace in the fact - they know it too, deep down inside, how badly they fucked up and were misled.

Some people, like Seran, are just legitimately that stupid and gullible and actually believe the bullshit they're regurgitating.

Source: Every political post he's ever made

[Neveragain]

https://www.youtube.com/watch?v=YM9LUl_baSU

Not a good look for BP and Shell.

[Seran]

Hey, Seran, you forgot to mention that oil was up over 5% today and it's currently the second highest price it has ever been in the history of the world and it's less than 8% away from the highest it's ever been in the history of the world, both world records thanks to your president.

But I'm sure this was just an oversight on your part since you're so eager to jump and scream at everyone the second the price drops by 0.01%.

Once again: this is why you look at long term trends when it comes to things like oil prices and you don't wait 5 minutes after oil hits the highest in record and say "ZOMG LOOK! The price of oil is dropping! Thank Biden now, you bigots!"

Like this long term trend for example: Oil is way up ever since president Disaster wormed his way into the White House and demonstrably made life worse for just about every single human being on the planet. Yes, even uncontacted tribes have it worse now than they did in 2020.

Except when it was over $140 a barrel? Perhaps you're just reeally bad at math, but $109 is less than $140.

[Parkbandit]

When Biden took office, we were enjoying $2.20 / gallon prices for gas.

When Biden took office, we were enjoying $50 / barrel price for crude oil.

Any talk of "Oil was never $140 a barrel!!!" is nothing more than musings from an idiot.

When Joe became President, he inherited low oil/gas prices... but his war on fossil fuels has done exactly what he knew it would do: Increase the price in an attempt to drive down demand.

[Methais]

Except when it was over $140 a barrel? Perhaps you're just reeally bad at math, but $109 is less than $140.

You struggle with numbers a lot, don't you?

[Parkbandit]

You struggle with numbers a lot, don't you?

I imagine he struggles with every.single.thing.

[Seran]

The congressional lawmakers propose the Gas Rebate Act of 2022 where Americans would get an energy rebate of $100 per month (and $100 for each dependent) for the rest of 2022 in any month where the national average gas prices exceed $4.00 per gallon.

"Americans are feeling the impact at the pump of Vladimir Putin’s illegal invasion of Ukraine, and right now we must work together on commonsense policy solutions to ease the financial burden that my constituents are feeling," Thompson said in a news release. "The Putin Price Hike is putting strain on our economy, and I am proud to be working with Reps. Larson and Underwood to introduce this legislation to provide middle-class Americans with monthly payments to ease the financial burden of this global crises."


Rep. Peter DeFazio of Oregon has proposed the Stop Gas Price Gouging Tax and Rebate Act. The bill "would create a windfall profit tax on excessive corporate profits and return the revenue to American consumers in the form of a tax rebate."

"Big Oil is foaming at the mouth," said Rep. DeFazio. "After price-gouging Americans in 2021 to make record profits, Big Oil is now reaping the benefits of [President Vladimir] Putin’s price hike."

"My legislation would tax Big Oil’s excess profits in 2022 and return the revenue back to Americans. It’s beyond time to put people over profits – period," he continued.

Under his proposal, companies will pay a one-time, 50 percent windfall profit tax on any adjusted taxable income (ATI) in 2022 that exceeds 110 percent of their average ATI during pre-pandemic levels between 2015-2019. Revenue, raised by the windfall profit tax, will be returned to consumers as a monthly, advanced, and refundable tax credit that will be phased out by income, according to DeFazio.

Two bills are on their way for Congressional consideration, the first having an immediate impact of helping families with rising fuel bills. The second, would fund the expenditures by taxing the insane profits the oil companies are making by keeping supply low. You can expect Republicans to oppose both, despite agreeing prices are high. After all, it's an election year, anything which helps Americans is bad!

https://www.fox5ny.com/news/gas-price-stimulus-checks-proposals-head-to-congress

[Methais]

The congressional lawmakers propose the Gas Rebate Act of 2022 where Americans would get an energy rebate of $100 per month (and $100 for each dependent) for the rest of 2022 in any month where the national average gas prices exceed $4.00 per gallon.

"Americans are feeling the impact at the pump of Vladimir Putin’s illegal invasion of Ukraine, and right now we must work together on commonsense policy solutions to ease the financial burden that my constituents are feeling," Thompson said in a news release. "The Putin Price Hike is putting strain on our economy, and I am proud to be working with Reps. Larson and Underwood to introduce this legislation to provide middle-class Americans with monthly payments to ease the financial burden of this global crises."


Rep. Peter DeFazio of Oregon has proposed the Stop Gas Price Gouging Tax and Rebate Act. The bill "would create a windfall profit tax on excessive corporate profits and return the revenue to American consumers in the form of a tax rebate."

"Big Oil is foaming at the mouth," said Rep. DeFazio. "After price-gouging Americans in 2021 to make record profits, Big Oil is now reaping the benefits of [President Vladimir] Putin’s price hike."

"My legislation would tax Big Oil’s excess profits in 2022 and return the revenue back to Americans. It’s beyond time to put people over profits – period," he continued.

Under his proposal, companies will pay a one-time, 50 percent windfall profit tax on any adjusted taxable income (ATI) in 2022 that exceeds 110 percent of their average ATI during pre-pandemic levels between 2015-2019. Revenue, raised by the windfall profit tax, will be returned to consumers as a monthly, advanced, and refundable tax credit that will be phased out by income, according to DeFazio.

This is really stupid, which is why I think it's great.

https://c.tenor.com/P5_hF2KzfqEAAAAC/uhhuh-clap.gif

Fixed.

[Seran]

Someone from Big Oil needs to tell this small independent producers admitting they shut down production when prices are low doesn't jive with the Big Oil Lie that they have no control over production. This gal produces 15 barrels a day off of 13 wells, using her break even point of $50, that means she's netting more than $344,925 in profits above her break even point per year using a $113 per barrel price.

Republicans have been exposed repeatedly over their lies that oil companies are the victims of their own greed. Boo hoo, our investors are demanding bigger returns instead of capital expenditures, we're forced to keep supply low!

Maybe it's time for Big Oil to be split up due to anticompetitive practice violations.




High price of oil causing producers to ramp up

https://www.msn.com/en-us/news/us/high-price-of-oil-causing-producers-to-ramp-up/vi-AAVpieB

[Parkbandit]

Someone from Big Oil needs to tell this small independent producers admitting they shut down production when prices are low doesn't jive with the Big Oil Lie that they have no control over production. This gal produces 15 barrels a day off of 13 wells, using her break even point of $50, that means she's netting more than $344,925 in profits above her break even point per year using a $113 per barrel price.

Republicans have been exposed repeatedly over their lies that oil companies are the victims of their own greed. Boo hoo, our investors are demanding bigger returns instead of capital expenditures, we're forced to keep supply low!

Maybe it's time for Big Oil to be split up due to anticompetitive practice violations.

Tell us you know nothing about business or basic math without telling us you know nothing about business or basic math.

Ok.. so the lady's break even price is $50.00 per barrel...

How much money do you believe she made from those 13 wells in 2016? The avg price per barrel that year was $43.29.

What about in 2017 when the avg price was $50.80?

2018 - $65.23?

2019 - $56.77?

In this woman's defense... she hasn't had it this good since the last time Democrats were in office.

Weird how Democrats make oil companies so profitable.. huh...

[Stanley Burrell]

https://www.youtube.com/watch?v=YM9LUl_baSU

Not a good look for BP and Shell.

I was told never ever, ever buy gasoline from a mom & pops type place. I think I was told that it had the possibility of really destroying the powertrain. I guess my dad, or like, one of my friends told me this when I was just starting to get driving? Yes?

Anyway it stuck in my brain, I don't really know if this is truth or urban legend. Maybe a bit of both.

[Methais]

I was told never ever, ever buy gasoline from a mom & pops type place. I think I was told that it had the possibility of really destroying the powertrain. I guess my dad, or like, one of my friends told me this when I was just starting to get driving? Yes?

Anyway it stuck in my brain, I don't really know if this is truth or urban legend. Maybe a bit of both.

Just ask Seran what he thinks, and the opposite of whatever he says is the correct answer.

[Seran]

I was told never ever, ever buy gasoline from a mom & pops type place. I think I was told that it had the possibility of really destroying the powertrain. I guess my dad, or like, one of my friends told me this when I was just starting to get driving? Yes?

Anyway it stuck in my brain, I don't really know if this is truth or urban legend. Maybe a bit of both.

Most mom and pop places are getting their gasoline from the same places the branded stations are. Difference? Quality of their storage. Here's a great article about the topic. Take note of the remarks about carbon deposits from non TOP TIER branded fuel stations and how periodically gassing up at one is all that's necessary to counteract the issue.

https://www.google.com/amp/s/www.sun-sentinel.com/business/fl-bz-are-all-gasoline-brands-created-equal-20180914-story.html%3foutputType=amp

[Neveragain]

I was told never ever, ever buy gasoline from a mom & pops type place. I think I was told that it had the possibility of really destroying the powertrain. I guess my dad, or like, one of my friends told me this when I was just starting to get driving? Yes?

Anyway it stuck in my brain, I don't really know if this is truth or urban legend. Maybe a bit of both.

That may have been the case before the 80's. They really started putting on the clamps when they started fining stations with leaky storage tanks. There's 3 old stations in the town I live in that keep being bought and sold because nobody wants to replace the old storage tanks. BP just bought one of them like 2 years ago, put up all new signs and they have yet to even open. Oddly enough the station everyone uses is a Mom and Pop station, but the guy that runs it is a straight arrow. Even the county sheriff's and the local police use him for vehicle repair and maintenance.

Back when I had my 70 Chevelle I always used Standard because they sold a high octane ether mix that was an excellent alternative to racing fuel.

[Parkbandit]

I was told never ever, ever buy gasoline from a mom & pops type place. I think I was told that it had the possibility of really destroying the powertrain. I guess my dad, or like, one of my friends told me this when I was just starting to get driving? Yes?

Anyway it stuck in my brain, I don't really know if this is truth or urban legend. Maybe a bit of both.

Pretty sure Woodman's isn't a "mom & pop" type place. They have at least 19 different stores that sell gas.

[Stanley Burrell]

Pretty sure Woodman's isn't a "mom & pop" type place. They have at least 19 different stores that sell gas.

Well butter my butt and call me a biscuit.

Not literally, or even mentally. Ummm, yeah but this whole storage tank leakage issue thing, that goes on across the board? ...Or more likely than not at mom & pop's places?

Please, continue.

[Realk]

Well butter my butt and call me a biscuit.

Not literally, or even mentally. Ummm, yeah but this whole storage tank leakage issue thing, that goes on across the board? ...Or more likely than not at mom & pop's places?

Please, continue.


Some time in the early 2000's they started getting really strict about checking the tanks and it is done yearly. If a mom and pop joint is still open it's up to code... so you'd have just about as much chance of getting water in your gas as anywhere. Maybe less since they don't(not normally) have money to bribe the inspection away.

[Seran]

Well this is an amusing. The Dallas Federal Reserve released its quarterly survey results on March 23, 2022 and asked 83 small and large firms what their dollar per barrel break even point is for a new well, the average response $55. When asked their price per barrel for existing wells, $31. Now the real nail in the coffin, when 123 firms were asked what oil price would get them to drill more, 28% said a price over $100 and 27% said there choice to drill or not wasn't dependent on oil.

When 132 oil and gas companies were asked why they were restraining growth of new production, over 59% said investors were demanding higher payouts. While only 15% said environmental, social or government regulations.

So there you have it folks, from the horses mouth the government isn't the problem, it is the fact they and their shareholders are demanding prices be maintained at current level to continue windfall profits. Greed in America from Big Oil is the problem.

[Bhaalizmo]

Well this is an amusing. The Dallas Federal Reserve released its quarterly survey results on March 23, 2022 and asked 83 small and large firms what their dollar per barrel break even point is for a new well, the average response $55. When asked their price per barrel for existing wells, $31. Now the real nail in the coffin, when 123 firms were asked what oil price would get them to drill more, 28% said a price over $100 and 27% said there choice to drill or not wasn't dependent on oil.

When 132 oil and gas companies were asked why they were restraining growth of new production, over 59% said investors were demanding higher payouts. While only 15% said environmental, social or government regulations.

So there you have it folks, from the horses mouth the government isn't the problem, it is the fact they and their shareholders are demanding prices be maintained at current level to continue windfall profits. Greed in America from Big Oil is the problem.

https://media3.giphy.com/media/d9ZKe69RaqFtAM9DBH/giphy.gif?cid=6c09b9521d675129a7537086b3df9a5bf5f0 d4bfd707d848&rid=giphy.gif&ct=g

[Seran]

I know, right. Canada announced their going to add to worldwide production, our President is reaching out to allies and former oil trading partners to meet our immediate need. Great call to not be held hostage by the greed of the US based firms who are trying to hold the American people hostage by their gas tanks and suck out as much profit as possible.

[Seran]

Great opportunity to negotiate an active oil production increase of 500,000-850,000 barrels of oil per day sold directly to the United States above current production targets. We have weapons, military, intelligence, they have oil for the market since US producers are sitting on their asses.


Some of the largest Gulf oil producers, including Saudi Arabia and the United Arab Emirates, are seeking to sign a written treaty with the United States under which the U.S. could provide defense support after attacks from Yemen have intensified, Bloomberg reported on Wednesday, quoting sources with knowledge of the proposal.

Ideally, the major oil exporters in the Arab Gulf would seek a formal treaty with the United States, the sources told Bloomberg, but expanded and revised bilateral defense support agreements could also work, one of the sources said.

https://oilprice.com/Latest-Energy-News/World-News/Gulf-Oil-Producers-Seek-US-Military-Support-Against-Yemen-Attacks.html

[Seran]

To give you an idea how strong the counter narrative is from 'analysts' who are trying to keep oil prices high by baseless speculation. When asked for input on President Biden's planned release of up to one million barrels of oil per day from the SPR, analysts were quoting to say it was already 'priced in'. As of they legitimately had an idea our President would increase domestic oil availability by some 8% with a stroke of his pen.


Oil Drops As Biden Prepares Largest Ever SPR Crude Release

At the time, analysts warned that the SPR release would not have the desired effect for various reasons, such as the type of crude to be released versus the types of crude used by refiners to produce fuels. Also, they said, traders had already priced in the release, and it would not affect benchmark oil prices on which fuel prices are based.

https://oilprice.com/Latest-Energy-News/World-News/Oil-Drops-As-Biden-Prepares-Largest-Ever-SPR-Crude-Release.html

[Suppressed Poet]

Great opportunity to negotiate an active oil production increase of 500,000-850,000 barrels of oil per day sold directly to the United States above current production targets. We have weapons, military, intelligence, they have oil for the market since US producers are sitting on their asses.


https://oilprice.com/Latest-Energy-News/World-News/Gulf-Oil-Producers-Seek-US-Military-Support-Against-Yemen-Attacks.html

You do realize that previously (and fairly recently) Biden pledged to withdraw his support to Saudi Arabia in their war against Yemen, right?

[Seran]

You do realize that previously (and fairly recently) Biden pledged to withdraw his support to Saudi Arabia in their war against Yemen, right?

Withdrawing support for someone's offensive and territorial ambitions are waaay different that a mutual defense treaty.

[Parkbandit]

Withdrawing support for someone's offensive and territorial ambitions are waaay different that a mutual defense treaty.

https://media4.giphy.com/media/fuYUWuuoDWgR90eaEz/200w.gif

https://media4.giphy.com/media/HP7mtfNa1E4CEqNbNL/200w.gif?cid=82a1493bdvt4isfywrdoylk8cmd72oan3mqdw 4iqbvf7zgbc&rid=200w.gif&ct=g

[Methais]

I wish I was 8 years old so Biden would try to put his peener in me.

Fixed.

[Suppa Hobbit Mage]

So if/when Biden releases the million barrels... we'll still be behind peak oil production before he started his attacks on the oil industry.

[Seran]

So if/when Biden releases the million barrels... we'll still be behind peak oil production before he started his attacks on the oil industry.

You should ask the big oil industry about that. They say that their investors are demanding dividends and aren't allowed to do capital expenditures. Meanwhile, as Republicans and Manchin are preventing any real investment in renewable energy infrastructure, electric vehicle credits, the President is tapping the SPR and reaching out to other oil sources, since you know... Americans still drive, despite the oil industry taking a siesta.

[Suppa Hobbit Mage]

You should ask the big oil industry about that. They say that their investors are demanding dividends and aren't allowed to do capital expenditures. Meanwhile, as Republicans and Manchin are preventing any real investment in renewable energy infrastructure, electric vehicle credits, the President is tapping the SPR and reaching out to other oil sources, since you know... Americans still drive, despite the oil industry taking a siesta.

You should ask the president and his policies about that. He campaigned on putting them out of business.

[Parkbandit]

You should ask the president and his policies about that. He campaigned on putting them out of business.

Oh silly.. that's just campaign rhetoric. He didn't mean it...

[Seran]

Another step in the right direction, reducing overall usage of gasoline in the United States by restoring higher fuel efficiency standards destroyed by Trump. US Oil Companies have made it clear they won't be able to meet rising demand, so let's further temper demand.


New vehicles must average 40 mpg by 2026, up from 28 mpg

DETROIT (AP) — New vehicles sold in the United States will have to travel an average of at least 40 miles per gallon of gasoline in 2026, up from about 28 mpg, under new federal rules unveiled Friday.

The National Highway Traffic Safety Administration said its fuel economy requirements will undo a rollback of standards enacted under President Donald Trump. For the current model year, standards enacted under Trump require the fleet of new vehicles to get just under 28 miles per gallon in real-world driving. The new requirements increase gas mileage by 8% per year for model years 2024 and 2025 and 10% in the 2026 model year.

https://apnews.com/article/climate-business-donald-trump-united-states-environment-f46e6892e95d83a41f75b9d56edadbda

[Suppa Hobbit Mage]

So now Biden is going after the auto industry. I wonder how that will work out.

[Seran]

So now Biden is going after the auto industry. I wonder how that will work out.

By 'going after' you mean encouraging fuel efficiency standards, the direction most are already going with hybrid and electric vehicles? I'm absolutely sure they're feeling scandalized, how dare the President continue to press for additional fuel efficient vehicle credits and EV charging infrastructure that the Republicans and corrupt Manchin are blocking.

[Parkbandit]

And Seran can't figure out why the price of gas is so high......

LOL.

[Methais]

By 'going after' you mean encouraging fuel efficiency standards, the direction most are already going with hybrid and electric vehicles? I'm absolutely sure they're feeling scandalized, how dare the President continue to press for additional fuel efficient vehicle credits and EV charging infrastructure that the Republicans and corrupt Manchin are blocking.

There really is no limit to how retarded you can be.

[Seran]

Oil prices were up 4% today on news that oil inventories were up 9 million barrels. In another nod to just how oil speculators have divorced prices from reality. Supply in our country is exceeding demand, but WTI is still pricing higher. Good thing those poor suffering oil companies are raking in record profits for their investors, otherwise Americans might actually see relief.

https://oilprice.com/Energy/Energy-General/Why-Are-Europes-Biggest-Commodity-Traders-Still-Dealing-With-Russian-Oil.html

[Parkbandit]

Oil prices were up 4% today on news that oil inventories were up 9 million barrels. In another nod to just how oil speculators have divorced prices from reality. Supply in our country is exceeding demand, but WTI is still pricing higher. Good thing those poor suffering oil companies are raking in record profits for their investors, otherwise Americans might actually see relief.

https://oilprice.com/Energy/Energy-General/Why-Are-Europes-Biggest-Commodity-Traders-Still-Dealing-With-Russian-Oil.html

I do hope you are doing your part and making sure you are not contributing to the demand problem.

[Methais]

I do hope you are doing your part and making sure you are not contributing to the demand problem.

He isn't. But it's only because someone else pays for his gas and electricity.

And by someone else, I mean taxpayers.

[Parkbandit]

https://www.nytimes.com/2022/04/15/climate/biden-drilling-oil-leases.html

It's almost as if they are being forced to do this because of supply issues..... so weird....

Seran will be on soon to tell us it's all because the oil companies are greedy....

[Shaps]

https://www.nytimes.com/2022/04/15/climate/biden-drilling-oil-leases.html

It's almost as if they are being forced to do this because of supply issues..... so weird....

Seran will be on soon to tell us it's all because the oil companies are greedy....


https://www.youtube.com/watch?v=xCMywyoySxk

That didn't age well did it... ROFL.

[Parkbandit]

https://www.youtube.com/watch?v=xCMywyoySxk

That didn't age well did it... ROFL.

Neither did Biden...

[Shaps]

Neither did Biden...

What's sad.. are the people that believed in them.. and their idiocy.. and the fact the rest of us have to live with it.

[Parkbandit]

What's sad.. are the people that believed in them.. and their idiocy.. and the fact the rest of us have to live with it.

They didn't really though, except the extreme retards of the alt-left. Everyone else just thought "anyone but Trump"

We just need him to hang on for 2 more years though... because a President Harris would be exponentially worse.

[Seran]

https://www.nytimes.com/2022/04/15/climate/biden-drilling-oil-leases.html

It's almost as if they are being forced to do this because of supply issues..... so weird....

Seran will be on soon to tell us it's all because the oil companies are greedy....

Oh no a President is calling the bluff on oil companies screeching their thousands and thousands of existing unexplored leases aren't enough. Whatever shall we do when Big Oil doesn't have excuses about not unidling their existing wells?!

[Parkbandit]

Oh no a President is calling the bluff on oil companies screeching their thousands and thousands of existing unexplored leases aren't enough. Whatever shall we do when Big Oil doesn't have excuses about not unidling their existing wells?!

That is an interesting take on a failed President Biden policy he was forced to concede.

[Seran]

That is an interesting take on a failed President Biden policy he was forced to concede.

And you have the exact opposite end of the highly partisan perspective. Only difference is my response is rooted in acknowledging changing times requires a different strategy.

You just wanna throw rocks at someone you hate and don't care about changing circumstances.

[Parkbandit]

And you have the exact opposite end of the highly partisan perspective. Only difference is my response is rooted in acknowledging changing times requires a different strategy.

You just wanna throw rocks at someone you hate and don't care about changing circumstances.

No. I'm literally just posting facts about this.

One of President Biden's first Executive Orders was to suspend oil and gas leases in this country.

He has had to walk that back, given it's failure to do anything but drive up oil costs.

You came back with "RABBLE RABBLE GREEDY OIL BARONS RABBLE RABBLE"

I don't expect you to have any self awareness... given that only intelligent life is capable of that... but maybe just pretend?

[Methais]

You just wanna throw rocks at someone you hate and don't care about changing circumstances.

https://i.imgur.com/H84vchI.png

[Stanley Burrell]

I can't seem to find this, but listen:

I swear, there was a whole hubbub about cars ...in the year; maybe, like, I want to say 2040???...That the MPG would have to be at least 46, or something to that effect? Was this just political posturing or is it for realz0rz?

O.K., good post.

[Stanley Burrell]

I've had really bad insomnia and I can't tell if I'm making this shit up or not :(

[Bhaalizmo]

I've had really bad insomnia and I can't tell if I'm making this shit up or not :(

This shit is for reals.

[Tgo01]

I swear, there was a whole hubbub about cars ...in the year; maybe, like, I want to say 2040???...That the MPG would have to be at least 46, or something to that effect? Was this just political posturing or is it for realz0rz?

It's possible 46 is what the government has mandated, but those rules are largely useless. It's not a minimum PER CAR, it's the average of the entire automaker's fleet.

So if an automaker has a huge tank of an SUV that gets 10 MPG, and a small car that gets 30 MPG, then their entire fleet average is 20 MPG. Throw in a tiny electric car that no one buys and they can really bump up their fleet average MPG.

[Gelston]

It's possible 46 is what the government has mandated, but those rules are largely useless. It's not a minimum PER CAR, it's the average of the entire automaker's fleet.

So if an automaker has a huge tank of an SUV that gets 10 MPG, and a small car that gets 30 MPG, then their entire fleet average is 20 MPG. Throw in a tiny electric car that no one buys and they can really bump up their fleet average MPG.

The end net result is still a higher MPG requirement.

[Tgo01]

The end net result is still a higher MPG requirement.

Possibly, depends if they boost their average with electric vehicles.

But these mandates are misleading because it makes people think they will be able to buy a much more fuel efficient vehicle in a few years, yet in the 50's cars were getting about 15 MPG and nowadays they are getting about 24, that hasn't even doubled in the past 70 years, much less is it going to double in the next 20. The average vehicle MPG has gone up a whopping 5 MPG since the 50's.

[Gelston]

Possibly, depends if they boost their average with electric vehicles.

But these mandates are misleading because it makes people think they will be able to buy a much more fuel efficient vehicle in a few years, yet in the 50's cars were getting about 15 MPG and nowadays they are getting about 24, that hasn't even doubled in the past 70 years, much less is it going to double in the next 20. The average vehicle MPG has gone up a whopping 5 MPG since the 50's.

Boosting it with Electric vehicles is still a higher gasoline efficient fleet.

[Tgo01]

Boosting it with Electric vehicles is still a higher gasoline efficient fleet.

My bad, I misread your other post as it will result in higher MPG vehicles. You are right, electric vehicles would boost the average MPG of their fleet, but it won't necessarily mean more fuel efficient vehicles, at least not necessarily a huge boost.

[Gelston]

My bad, I misread your other post as it will result in higher MPG vehicles. You are right, electric vehicles would boost the average MPG of their fleet, but it won't necessarily mean more fuel efficient vehicles, at least not necessarily a huge boost.

You are aware of how Fleet MPG is calculated right? It makes it very, very hard to hit the goals if you're using low MPG vehicles a lot.

[Tgo01]

You are aware of how Fleet MPG is calculated right? It makes it very, very hard to hit the goals if you're using low MPG vehicles a lot.

So they can dump their low MPG vehicles from their fleets, create vehicles which use alternative fuels to get an artificial boost to their average, create electric vehicles which get 200+ MPG equivalent, and use credits from prior years where they exceeded the minimum to use towards the future where they don't meet the required minimum, all of which doesn't make cars more fuel efficient. Or car makers can just pay the penalty for not achieving the minimum standard, which some automakers do.

Like I said it's a misleading requirement.

[Gelston]

So they can dump their low MPG vehicles from their fleets, create vehicles which use alternative fuels to get an artificial boost to their average, create electric vehicles which get 200+ MPG equivalent, and use credits from prior years where they exceeded the minimum to use towards the future where they don't meet the required minimum, all of which doesn't make cars more fuel efficient. Or car makers can just pay the penalty for not achieving the minimum standard, which some automakers do.

Like I said it's a misleading requirement.

The MPG is still based on total miles driven. They'll have to put a LOT more miles on their high MPG vehicles to counterbalance poor performers. That costs money. They'll look at dumping those poor performers. It isn't misleading. It is still calculated total miles driven (of all vehicles) / gasoline consumption = MPG.

There are no "credits" mentioned by the NHTSA so I have no idea where you are getting that idea from.

Also, included, automakers are REQUIRED to have every light duty vehicle have at least a 49 MPG average by 2026. That isn't even corporate fleets, that is every single vehicle made in that category.

[Gelston]

Something further to note, your example of a giant SUV getting 10 MPG wouldn't be covered, as they are considered heavy duty vehicles. This legislation only targets passenger cars and light trucks, hence, light duty vehicles.

[Tgo01]

The MPG is still based on total miles driven. They'll have to put a LOT more miles on their high MPG vehicles to counterbalance poor performers. That costs money. They'll look at dumping those poor performers. It isn't misleading. It is still calculated total miles driven (of all vehicles) / gasoline consumption = MPG.

There are no "credits" mentioned by the NHTSA so I have no idea where you are getting that idea from.

Also, included, automakers are REQUIRED to have every light duty vehicle have at least a 49 MPG average by 2026. That isn't even corporate fleets, that is every single vehicle made in that category.

Yes an average, there is no way a car is going to get 49 MPG in a couple of years unless it’s a hybrid or an electric vehicle, cars not everyone can afford nor have the easy means to charge it.

Assuming you’re referring to the CAFE then yes they can roll over credits from years where they exceeded the minimum to years where they don’t meet the minimum.

All I said is it’s misleading, because it is. People think these regulations means every car sold has to meet these minimums. You’re saying it’s not misleading because you know it refers to fleet averages.

[Gelston]

Yes an average, there is no way a car is going to get 49 MPG in a couple of years unless it’s a hybrid or an electric vehicle, cars not everyone can afford nor have the easy means to charge it.

Assuming you’re referring to the CAFE then yes they can roll over credits from years where they exceeded the minimum to years where they don’t meet the minimum.

All I said is it’s misleading, because it is. People think these regulations means every car sold has to meet these minimums. You’re saying it’s not misleading because you know it refers to fleet averages.

It points to an overall higher efficient fleet. You may say it is misleading, but the end goal is still going to happen. MPG rates have been going up for years.

[Seran]

Yes an average, there is no way a car is going to get 49 MPG in a couple of years unless it’s a hybrid or an electric vehicle, cars not everyone can afford nor have the easy means to charge it.

Assuming you’re referring to the CAFE then yes they can roll over credits from years where they exceeded the minimum to years where they don’t meet the minimum.

All I said is it’s misleading, because it is. People think these regulations means every car sold has to meet these minimums. You’re saying it’s not misleading because you know it refers to fleet averages.

There's many times over more conventional motor vehicles that are more expensive than your standard hybrid or electric. Meanwhile some manufacturers are still eligible for electric vehicle credits, while others would have had more credits available if Republicans weren't so in bed with Big Oil.

25k for a Hyundai plug in hybrid. Average 50mpg. Not only is the car incredibly affordable, but the annual gas savings will pay a significant portion of the vehicle.

[Tgo01]

the annual gas savings will pay a significant portion of the vehicle.

Sure with Biden doing his best to make gas be as expensive as possible. If he were a normal president who actually cared about his citizens suffering and didn't insist on 4+ dollars per gallon of gas as the "new normal" then no.

[Seran]

Sure with Biden doing his best to make gas be as expensive as possible. If he were a normal president who actually cared about his citizens suffering and didn't insist on 4+ dollars per gallon of gas as the "new normal" then no.

Except he's doing everything reasonably possible thing he can to lower gas prices in reality, and congressional Republicans and Big Oil are doing their damndest to block or counter everything he tries.

Releasing a million barrels per day from SPR
- Oil analysts and commodities brokers shrug it off as not being enough to counteract the loss of Russian oil. Nevermind there isn't an oil shortage.

Biden tries to put pass fuel efficient vehicle credits and expand electric vehicle infrastructure.
-Congressional Republicans block it.

Biden points out there's thousands of unused minerals leases that Big Oil is sitting on and half completed wells not finished due to Big Oil wishing to limit supply to maintain prices.
- Republicans and commodities brokers alike shriek themselves hoarse that the specter of nonexistent oil rules or policies are preventing oil production.

The oil price jump is artificial and its been manipulated higher to benefit the pockets of oil producers and refiners. Who are making outrageously high profits by literally stealing it from everyday Americans.

[drauz]

Sure with Biden doing his best to make gas be as expensive as possible. If he were a normal president who actually cared about his citizens suffering and didn't insist on 4+ dollars per gallon of gas as the "new normal" then no.

What exactly is Biden doing to make the gas prices so expensive?

[Tgo01]

What exactly is Biden doing to make the gas prices so expensive?

Oh come on.

I love it.

Democrats: Biden can't do anything to affect the price of gas! He doesn't have that power! It doesn't matter if he closed federal lands to future oil drilling!
Biden: I'm opening up federal land for more oil drilling to help reduce the price of oil.
Democrats: I'm still not seeing it!!!!

[Bhaalizmo]

Except he's doing everything reasonably possible thing he can to lower gas prices in reality, and congressional Republicans and Big Oil are doing their damndest to block or counter everything he tries.

Releasing a million barrels per day from SPR
- Oil analysts and commodities brokers shrug it off as not being enough to counteract the loss of Russian oil. Nevermind there isn't an oil shortage.

Biden tries to put pass fuel efficient vehicle credits and expand electric vehicle infrastructure.
-Congressional Republicans block it.

Biden points out there's thousands of unused minerals leases that Big Oil is sitting on and half completed wells not finished due to Big Oil wishing to limit supply to maintain prices.
- Republicans and commodities brokers alike shriek themselves hoarse that the specter of nonexistent oil rules or policies are preventing oil production.

The oil price jump is artificial and its been manipulated higher to benefit the pockets of oil producers and refiners. Who are making outrageously high profits by literally stealing it from everyday Americans.

Wait.

...are you trying to say that Biden isn't trying to drive up gas prices?

But that's not what my favorite alt right hate mongers are saying about him.

Something doesn't add up here.

[Seran]

Wait.

...are you trying to say that Biden isn't trying to drive up gas prices?

But that's not what my favorite alt right hate mongers are saying about him.

Something doesn't add up here.

Ikr. It's almost shocking just how blatantly dishonest those Conservashits and Dreaven when trying to spin reality into supporting their falsehoods.

[Bhaalizmo]

Ikr. It's almost shocking just how blatantly dishonest those Conservashits and Dreaven when trying to spin reality into supporting their falsehoods.

Willful ignorance is a powerful tool to instill in a mind at a young age.

[Parkbandit]

Oh come on.

I love it.

Democrats: Biden can't do anything to affect the price of gas! He doesn't have that power! It doesn't matter if he closed federal lands to future oil drilling!
Biden: I'm opening up federal land for more oil drilling to help reduce the price of oil.
Democrats: I'm still not seeing it!!!!

You mean:

Biden: I'm opening up the federal land that I closed on my first day in office to help reduce the price of oil.

[Shaps]

You mean:

Biden: I'm opening up the federal land that I closed on my first day in office to help reduce the price of oil.

Create the problem, then return to normal to say you "solved it". About all Democrats can do.

Biden - "The economy is booming!" ---- Uhhhh.. you mean people are returning to work after not working for 2 years due to forced Government mandates? type of thinking...

[Suppressed Poet]

Average national price of gasoline BEFORE the so called “Putin Price Hike”.

https://pbs.twimg.com/media/FOD-RU2VEBIUzCi.jpg

[Shaps]

https://www.politifact.com/factchecks/2020/mar/20/facebook-posts/debate-joe-biden-said-no-more-oil-drilling-and-no-/

Joe Biden 2020 - "Number one, no more subsidies for fossil fuel industry. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period, ends, number one."

https://www.reuters.com/world/us/us-resume-oil-gas-drilling-public-land-despite-biden-campaign-pledge-2022-04-15/

Joe Biden 2022 - "U.S. to resume oil, gas drilling on public land despite Biden campaign pledge"

Can't tell an industry to go fuck themselves, then expect them to help your shitty poll numbers.

When reality hits morons in the face.

[Parkbandit]

Willful ignorance is a powerful tool to instill in a mind at a young age.


https://media3.giphy.com/media/VM01S5yIaKCgqg1bSF/giphy.gif

[Methais]

Ikr. It's almost shocking just how blatantly dishonest those Conservashits and Dreaven when trying to spin reality into supporting their falsehoods.


Willful ignorance is a powerful tool to instill in a mind at a young age.

https://pbs.twimg.com/profile_images/1106898384403812353/TaXV0m8N_400x400.jpg

Still no self awareness for either of you I see.

[Seran]

Average national price of gasoline BEFORE the so called “Putin Price Hike”.

https://pbs.twimg.com/media/FOD-RU2VEBIUzCi.jpg

You guys never get tired of posting the same misleading information. Gas prices were already trending upwards into Biden's inauguration as a result of the country returning to work, due to gasoline production not meeting demand. They largely moderated, then began to trend lower until Russia began surrounding Ukraine for their invasion. You'd know all this of you read the news, or were even human.

All of that aside, you Conservative morons trying to convince yourselves as much as the American people that the President had some supernatural way to increase prices? Go back to bed and take your thorazine.

[Gelston]

You guys never get tired of posting the same misleading information. Gas prices were already trending upwards into Biden's inauguration as a result of the country returning to work, due to gasoline production not meeting demand. They largely moderated, then began to trend lower until Russia began surrounding Ukraine for their invasion. You'd know all this of you read the news, or were even human.

All of that aside, you Conservative morons trying to convince yourselves as much as the American people that the President had some supernatural way to increase prices? Go back to bed and take your thorazine.

As a result of the country returning to work? WTF? Why weren't they super fucking high before people left work prior to covid? How does any of that shit make sense to you?

[Methais]

You guys never get tired of posting the same misleading information. Gas prices were already trending upwards into Biden's inauguration as a result of the country returning to work, due to gasoline production not meeting demand. They largely moderated, then began to trend lower until Russia began surrounding Ukraine for their invasion. You'd know all this of you read the news, or were even human.

All of that aside, you Conservative morons trying to convince yourselves as much as the American people that the President had some supernatural way to increase prices? Go back to bed and take your thorazine.

If you understood how to read a chart, which you clearly don't because you're too stupid, you'll see it still trending down literally until the election, it moved up slightly, moved back down slightly (11/23), and has been rising ever since, all before Biden was inaugurated, and then started really skyrocketing after, and way before any of this Russia shit started.

The problem is you're both too stupid to read a chart, and too full of shit to interpret a chart correctly even if you weren't too stupid to read it in the first place.

"bUt It'S pEoPlE gOiNg BaCk To WoRk!!!!!"

https://c.tenor.com/MfKAbleUVdUAAAAM/hola-knock.gif



As a result of the country returning to work? WTF? Why weren't they super fucking high before people left work prior to covid? How does any of that shit make sense to you?

He's just repeating what someone else told him to think. Because he's stupid.

[Suppressed Poet]

You guys never get tired of posting the same misleading information. Gas prices were already trending upwards into Biden's inauguration as a result of the country returning to work, due to gasoline production not meeting demand. They largely moderated, then began to trend lower until Russia began surrounding Ukraine for their invasion. You'd know all this of you read the news, or were even human.

All of that aside, you Conservative morons trying to convince yourselves as much as the American people that the President had some supernatural way to increase prices? Go back to bed and take your thorazine.

I’ll give it to you that what you are saying is partially true. Gas prices were already trending upward when Biden took office due to Covid impacts and people returning to work.

What you are failing to acknowledge though is Biden’s energy policy as soon as he took office: no offshore drilling, no new federal leases, increased regulation overnight with lengthier times to process, etc. That policy has exasperated the issue of oil companies being unable to keep up with the increased demand. It’s only now has Biden curtailed some of the restrictions, and he fails to take any accountability for his part. Biden’s energy policy (there was an EO for that too) is one factor of many that directly contributed to soaring prices in fuel.

[Seran]

As a result of the country returning to work? WTF? Why weren't they super fucking high before people left work prior to covid? How does any of that shit make sense to you?

Look at oil production prior to the pandemic, look at oil production not returning to those previous levels while economic factors are booming and demand is up. Then you can answer your own damn question from a position of knowledge, instead of contrived ignorance.

[Gelston]

Look at oil production prior to the pandemic, look at oil production not returning to those previous levels while economic factors are booming and demand is up. Then you can answer your own damn question from a position of knowledge, instead of contrived ignorance.

Oil Production is higher now than every year prior to 2019. Try again.

[Seran]

I’ll give it to you that what you are saying is partially true. Gas prices were already trending upward when Biden took office due to Covid impacts and people returning to work.

What you are failing to acknowledge though is Biden’s energy policy as soon as he took office: no offshore drilling, no new federal leases, increased regulation overnight with lengthier times to process, etc. That policy has exasperated the issue of oil companies being unable to keep up with the increased demand. It’s only now has Biden curtailed some of the restrictions, and he fails to take any accountability for his part. Biden’s energy policy (there was an EO for that too) is one factor of many that directly contributed to soaring prices in fuel.

Pre pandemic monthly offshore oil production was 61,631 thousand barrels per month, two years later oil companies continue to idle production and rates stand at 52,887 thousand barrels per month according to the EIA. New Federal offshore leases being halted as a cause for higher oil prices is a proven lie.

13.9 million acres of government owned land is already leased to Big Oil and not being developed or even explored for oil. Despite their already being permitted for such activities. Source: Department of Interior, November 2021 report to the GAO. Again, proving the lack of feral leases or lack of permits being the cause of high oil prices is a lie.

The Keystone XL pipeline being blocked, cited time and time again as a cause for higher oil prices is also a lie. The pipeline would not have been in use until 2023 or later. Existing pipelines already bring Canadian oil to the US and there is no impediment to ongoing oil reaching our country from our northern neighbors. So more lies.

Big oil and it's limiting oil production from current available wells. FACT

Commodities brokers Upplaying Russia's oil being unavailable to some markets and Downplaying coordinated international SPR releases to manipulate oil higher for profit. FACT

American oil production, previously at 13.2 million barrels per day, now at 11.7 million barrels per day being exposed to international oil price volatility due to Republicans and Trump ending federal oil export ban. FACT

[Seran]

Oil Production is higher now than every year prior to 2019. Try again.

US oil production peaked in January 2020, and hadn't recovered to previous levels.

You could correctly say today's oil production is higher than 1950 levels and it would still be irrelevant as your comparison.

[Gelston]

US oil production peaked in January 2020, and hadn't recovered to previous levels.

You could correctly say today's oil production is higher than 1950 levels and it would still be irrelevant as your comparison.

I correctly say that oil production is higher than the year of 2018 and every year that came before it. In fact, we are producing MORE THAN DOUBLE what we did in 2010.

Try again.

[Suppa Hobbit Mage]

US oil production peaked in January 2020, and hadn't recovered to previous levels.

What major political event happened in January 2020? What was the platform of the candidate who was inaugurated in January 2020? I'll help, it was to attack and shutter the (US) oil industry. Again, i fail to see why you expect them to come save a failing president who campaigned on putting them out of business. All they have to do is continue to let him suck another 6ish months and then when the adults are back running shit, things will improve.

[Suppressed Poet]

Pre pandemic monthly offshore oil production was 61,631 thousand barrels per month, two years later oil companies continue to idle production and rates stand at 52,887 thousand barrels per month according to the EIA. New Federal offshore leases being halted as a cause for higher oil prices is a proven lie.

13.9 million acres of government owned land is already leased to Big Oil and not being developed or even explored for oil. Despite their already being permitted for such activities. Source: Department of Interior, November 2021 report to the GAO. Again, proving the lack of feral leases or lack of permits being the cause of high oil prices is a lie.

The Keystone XL pipeline being blocked, cited time and time again as a cause for higher oil prices is also a lie. The pipeline would not have been in use until 2023 or later. Existing pipelines already bring Canadian oil to the US and there is no impediment to ongoing oil reaching our country from our northern neighbors. So more lies.

Big oil and it's limiting oil production from current available wells. FACT

Commodities brokers Upplaying Russia's oil being unavailable to some markets and Downplaying coordinated international SPR releases to manipulate oil higher for profit. FACT

American oil production, previously at 13.2 million barrels per day, now at 11.7 million barrels per day being exposed to international oil price volatility due to Republicans and Trump ending federal oil export ban. FACT

Big oil is not just intentionally limiting production. This theory that you have that greedy oil companies are intentionally limiting production to keep prices high is simply false.

All companies are greedy in the sense they want to maximize profits. You seem to only be considering production and failing to understand or acknowledge the impact of demand. Oil is the single largest traded commodity on planet earth. So when global demand for oil rises, for prices to remain the same production has to rise at an equally to meet the demand. It would not be in the oil companies best interest to limit their own production when demand is high. While yes that does in fact increase price, they would be losing out on greater potential profits by not having enough quantity to meet the demand. Look at any basic supply & demand graph and you will find optimization in the middle where supply & demand converge. That is what any company wants to achieve for peak performance and maximum profits.

Biden’s energy policies have had a direct and meaningful contribution as to why oil companies are unable to increase their production to keep up with global demand. They absolutely want to, because by not doing so they are leaving profit on the table. This is economics 101.

[Methais]

What major political event happened in January 2020? What was the platform of the candidate who was inaugurated in January 2020? I'll help, it was to attack and shutter the (US) oil industry. Again, i fail to see why you expect them to come save a failing president who campaigned on putting them out of business. All they have to do is continue to let him suck another 6ish months and then when the adults are back running shit, things will improve.

This is correct. Except for that second 2020 typo, which Seran won't be able to realize on his own because he's too stupid.

[Seran]

What major political event happened in January 2020? What was the platform of the candidate who was inaugurated in January 2020? I'll help, it was to attack and shutter the (US) oil industry. Again, i fail to see why you expect them to come save a failing president who campaigned on putting them out of business. All they have to do is continue to let him suck another 6ish months and then when the adults are back running shit, things will improve.

Well, President Biden wasn't inaugurated until January 2021 and wasn't even selected as the Democrat primary winner until June of 2020, so his campaign information is irrelevant to oil production falling.

However if you'd like to blame the sitting President and ignore all other factors contributing to the reduction of oil production (Covid-19, oil industry ramping down well utilization due to demand destruction) then I'll point out Donald Trump was President in all of 2020.

[Seran]

I correctly say that oil production is higher than the year of 2018 and every year that came before it. In fact, we are producing MORE THAN DOUBLE what we did in 2010.

Try again.

What we're producing in 2018, 2010, 1950 is irrelevant to comparing peak oil production (13.2 million barrels) to this year's production (11.7 million barrels 01/2022).

I know the Red Team has a fetish with taking irrelevant factoids and using them to slander the current administration, but that doesn't make the information correct.

[Methais]

What major political event happened in January 2020? What was the platform of the candidate who was inaugurated in January 2020? I'll help, it was to attack and shutter the (US) oil industry. Again, i fail to see why you expect them to come save a failing president who campaigned on putting them out of business. All they have to do is continue to let him suck another 6ish months and then when the adults are back running shit, things will improve.



This is correct. Except for that second 2020 typo, which Seran won't be able to realize on his own because he's too stupid.



Well, President Biden wasn't inaugurated until January 2021 and wasn't even selected as the Democrat primary winner until June of 2020, so his campaign information is irrelevant to oil production falling.

However if you'd like to blame the sitting President and ignore all other factors contributing to the reduction of oil production (Covid-19, oil industry ramping down well utilization due to demand destruction) then I'll point out Donald Trump was President in all of 2020.

https://c.tenor.com/Tco1BLvO5NQAAAAM/shaquille-o-neal-athlete.gif

[Seran]

Big oil is not just intentionally limiting production. This theory that you have that greedy oil companies are intentionally limiting production to keep prices high is simply false.

All companies are greedy in the sense they want to maximize profits. You seem to only be considering production and failing to understand or acknowledge the impact of demand. Oil is the single largest traded commodity on planet earth. So when global demand for oil rises, for prices to remain the same production has to rise at an equally to meet the demand. It would not be in the oil companies best interest to limit their own production when demand is high. While yes that does in fact increase price, they would be losing out on greater potential profits by not having enough quantity to meet the demand. Look at any basic supply & demand graph and you will find optimization in the middle where supply & demand converge. That is what any company wants to achieve for peak performance and maximum profits.

Biden’s energy policies have had a direct and meaningful contribution as to why oil companies are unable to increase their production to keep up with global demand. They absolutely want to, because by not doing so they are leaving profit on the table. This is economics 101.

13.2M- 11.7M = 1.5 million barrels per day, or 11.3% of oil available in 2020 is unavailable to the US energy market as a sole result of oil industry action or inaction.

You seem to have a grasp of supply and demand, but a bias against seeing Big Oil culpability. In January 2020, $61 was the price of oil per barrel, while today it is $109 per barrel.

13,200,000 * 61 = $805.2M
11,700,000 * 109 = $1,275.3M

Big oil is seeing a profit of $470M per month at those figures, have said in investor calls they are focusing on maintaining oil prices, more than 100 polled by the Federal Reserve indicated investor payouts, not government regulation is the cause of not increasing production. But you're still stuck on it being President Biden's energy policies are at a fault.

In case that is too much text. Oil companies are making a shit load of money and will continue making a shit load of money by withholding oil.

[Shaps]

https://www.politifact.com/factcheck...lling-and-no-/

Joe Biden 2020 - "Number one, no more subsidies for fossil fuel industry. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period, ends, number one."

https://www.reuters.com/world/us/us-...ge-2022-04-15/

Joe Biden 2022 - "U.S. to resume oil, gas drilling on public land despite Biden campaign pledge"

Can't tell an industry to go fuck themselves, then expect them to help your shitty poll numbers.

[Seran]

https://www.politifact.com/factcheck...lling-and-no-/

Joe Biden 2020 - "Number one, no more subsidies for fossil fuel industry. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period, ends, number one."

https://www.reuters.com/world/us/us-...ge-2022-04-15/

Joe Biden 2022 - "U.S. to resume oil, gas drilling on public land despite Biden campaign pledge"

Can't tell an industry to go fuck themselves, then expect them to help your shitty poll numbers.

At least you're willing to front the theory that curtailing oil production is political retribution by the Oil Industry. I've not heard that before, but it sounds plausible.

[Gelston]

What we're producing in 2018, 2010, 1950 is irrelevant to comparing peak oil production (13.2 million barrels) to this year's production (11.7 million barrels 01/2022).

I know the Red Team has a fetish with taking irrelevant factoids and using them to slander the current administration, but that doesn't make the information correct.

It is 100% relevant when you are saying lack of production is why prices are higher. We are producing more oil than we did in 2018, and gas prices were a lot better then. I can't believe I had to create this link for you.

[Methais]

It is 100% relevant when you are saying lack of production is why prices are higher. We are producing more oil than we did in 2018, and gas prices were a lot better then. I can't believe I had to create this link for you.

Stop lying. You're not surprised, and you can totally believe that you had to create that link for him.

Reported for being a liarface.

[Seran]

It is 100% relevant when you are saying lack of production is why prices are higher. We are producing more oil than we did in 2018, and gas prices were a lot better then. I can't believe I had to create this link for you.

It must be nice to so casually reject logic and arbitrarily choose irrelevant data for forming comparison. I bet the analysts at Lehman Bros were telling themselves the same thing about their subprogram mortgage derivative vehicles, you know, until the economy imploded as a result of the same shady dealings.

[Gelston]

It must be nice to so casually reject logic and arbitrarily choose irrelevant data for forming comparison. I bet the analysts at Lehman Bros were telling themselves the same thing about their subprogram mortgage derivative vehicles, you know, until the economy imploded as a result of the same shady dealings.

Reject logic? Your entire argument is that gas prices are high because production is low. Production is higher now than in 2018 and any year before, but the prices are higher.