Things that made you laugh today (Political Version)

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07-28-2022, 08:30 PM
Neveragain

Quote:

Originally Posted by Seran

So now you're referring to something in another topic that was never presented in your post as the source of your argument. Okay, let's move to your new goal post.

Domestically produced oil, a globally traded commodity as of 2015, is subject to supply and demand. Right? Right. So, when supply is curtailed by a natural disaster, war, embargoes, then supply drops. As a result, there is more demand for what is available. You with me so far?

Alright, so the second piece of this puzzle that I'm sure is going to absolutely blow your mind, oil companies are private entities in the Untied States and are allowed to produce and sell whatever quantity they want. Shocker, right? So, when demand increases relative to supply, they can sell 100 barrels at higher price.

Two years ago, oil flirted with $20-$30 a barrel for some time and even went negative. Oil is only profitable to sell, that is, to make up for the cost of making more oil available to replace what's sold, at an amount of excess of $40 a barrel. So another shocker, oil companies turned off the taps and sold quite a bit less oil in order to, wait for it, wait until the price of oil went up and they could sell the same oil at a higher price.

Under your fantasy, oil companies were selling the same amount of oil at $20-$30 a barrel that they are now selling for $90-$100 a barrel and that basic misunderstanding of yours is disproven looking at production and sales reports.

This has already been explained to you.

If you can't sell your tacos at a margin that doesn't cover your expenses you have to close taco stands.

It's like you say stuff but don't understand what you are saying.
07-28-2022, 08:51 PM
Suppressed Poet

Quote:

Originally Posted by Seran

So now you're referring to something in another topic that was never presented in your post as the source of your argument. Okay, let's move to your new goal post.

Domestically produced oil, a globally traded commodity as of 2015, is subject to supply and demand. Right? Right. So, when supply is curtailed by a natural disaster, war, embargoes, then supply drops. As a result, there is more demand for what is available. You with me so far?

Alright, so the second piece of this puzzle that I'm sure is going to absolutely blow your mind, oil companies are private entities in the Untied States and are allowed to produce and sell whatever quantity they want. Shocker, right? So, when demand increases relative to supply, they can sell 100 barrels at higher price.

Two years ago, oil flirted with $20-$30 a barrel for some time and even went negative. Oil is only profitable to sell, that is, to make up for the cost of making more oil available to replace what's sold, at an amount of excess of $40 a barrel. So another shocker, oil companies turned off the taps and sold quite a bit less oil in order to, wait for it, wait until the price of oil went up and they could sell the same oil at a higher price.

Under your fantasy, oil companies were selling the same amount of oil at $20-$30 a barrel that they are now selling for $90-$100 a barrel and that basic misunderstanding of yours is disproven looking at production and sales reports.

Hey I’m with you. We’re getting somewhere! So you get it.

So yes when oil prices were low like they were before Biden took office, I agree with you and concede the market conditions were not favorable to invest the capital required to increase production capacity. You agree with that, right? So if we’re investors and we’re looking at oil at that moment in time demand is flat and it’s difficult to see when it will increase, in the long term game we are looking towards alternative energy sources to replace fossil fuel, and the industry is already heavily regulated. Lots of risk and little upside = low investment. I think we’re on the same page so far.

Now enter Biden. No more fracking. No more leases on federal land or offshore drilling. Cancel the Keystone pipeline and other commitments we made to more safely & efficiently transport oil. Now on top of where we were before, it just got a lot less appetizing for investors right? Next a series of events happen that I concede can’t all be blamed on Biden…everyone is back at work, everyone is traveling again after being cooped up for 2 years, both Biden and Trump gave the poors stimulus checks, and the big one is war in Ukraine. Now conditions have changed that demand is through the roof, and we consumers all want them to produce more oil. But they can’t…because that investment needed to be made years ago to make a difference today, and the additional government regulation and energy policy of the Biden administration which still is largely in place today makes that investment even more difficult to obtain. It’s not because oil companies just don’t want to produce more oil and make even more money in these times of record high prices.

So in conclusion, I don’t think our high energy costs are ALL the direct control of the president or anything close to that, but Biden certainly didn’t help matters. This administration lacked the foresight to maintain energy independence & these dumb energy policies from the very start were a misguided attempt to satisfy the progressives on environmental issues. We’re paying for it today.
07-28-2022, 09:30 PM
Suppa Hobbit Mage

Quote:

Originally Posted by Seran

It's offset by tax increases, so it'll help the deficit. And besides, Manchin won't actually go through with it.

Because increasing taxes in a recession makes sense... and I don't believe for a fucking minute it "pays for itself". That's democrat for we can't do math.
07-28-2022, 09:39 PM
Methais

Quote:

Originally Posted by Seran

So now you're referring to something in another topic that was never presented in your post as the source of your argument. Okay, let's move to your new goal post.

Domestically produced oil, a globally traded commodity as of 2015, is subject to supply and demand. Right? Right. So, when supply is curtailed by a natural disaster, war, embargoes, then supply drops. As a result, there is more demand for what is available. You with me so far?

Alright, so the second piece of this puzzle that I'm sure is going to absolutely blow your mind, oil companies are private entities in the Untied States and are allowed to produce and sell whatever quantity they want. Shocker, right? So, when demand increases relative to supply, they can sell 100 barrels at higher price.

Two years ago, oil flirted with $20-$30 a barrel for some time and even went negative. Oil is only profitable to sell, that is, to make up for the cost of making more oil available to replace what's sold, at an amount of excess of $40 a barrel. So another shocker, oil companies turned off the taps and sold quite a bit less oil in order to, wait for it, wait until the price of oil went up and they could sell the same oil at a higher price.

Under your fantasy, oil companies were selling the same amount of oil at $20-$30 a barrel that they are now selling for $90-$100 a barrel and that basic misunderstanding of yours is disproven looking at production and sales reports.

https://i.imgur.com/SPCA6j4.png
07-28-2022, 09:54 PM
Seran

Quote:

Originally Posted by Neveragain

This has already been explained to you.

If you can't sell your tacos at a margin that doesn't cover your expenses you have to close taco stands.

It's like you say stuff but don't understand what you are saying.

You know you seem to have the same confusion with tacos that the gentleman has with Coca-Cola. They're not apt comparisons but thanks for joining and leaving the discussion.
07-28-2022, 10:00 PM
Suppressed Poet

In case any of you missed Biden’s speech today about the economy here is a brief synopsis:

https://encrypted-tbn0.gstatic.com/i...mhysQ&usqp=CAU

https://y.yarn.co/fe90da79-2022-46c0...2c47e_text.gif

https://y.yarn.co/af47613a-5b73-4239...c0343_text.gif

https://i.makeagif.com/media/10-19-2018/ZBbCg0.gif
07-28-2022, 10:02 PM
Seran

Quote:

Originally Posted by Suppressed Poet

Hey I’m with you. We’re getting somewhere! So you get it.

So yes when oil prices were low like they were before Biden took office, I agree with you and concede the market conditions were not favorable to invest the capital required to increase production capacity. You agree with that, right? So if we’re investors and we’re looking at oil at that moment in time demand is flat and it’s difficult to see when it will increase, in the long term game we are looking towards alternative energy sources to replace fossil fuel, and the industry is already heavily regulated. Lots of risk and little upside = low investment. I think we’re on the same page so far.

Now enter Biden. No more fracking. No more leases on federal land or offshore drilling. Cancel the Keystone pipeline and other commitments we made to more safely & efficiently transport oil. Now on top of where we were before, it just got a lot less appetizing for investors right? Next a series of events happen that I concede can’t all be blamed on Biden…everyone is back at work, everyone is traveling again after being cooped up for 2 years, both Biden and Trump gave the poors stimulus checks, and the big one is war in Ukraine. Now conditions have changed that demand is through the roof, and we consumers all want them to produce more oil. But they can’t…because that investment needed to be made years ago to make a difference today, and the additional government regulation and energy policy of the Biden administration which still is largely in place today makes that investment even more difficult to obtain. It’s not because oil companies just don’t want to produce more oil and make even more money in these times of record high prices.

So in conclusion, I don’t think our high energy costs are ALL the direct control of the president or anything close to that, but Biden certainly didn’t help matters. This administration lacked the foresight to maintain energy independence & these dumb energy policies from the very start were a misguided attempt to satisfy the progressives on environmental issues. We’re paying for it today.

Biden said stupid things about fracking, he attempted to make Big Oil look like the murderers of the environment shortly before market conditions and world events caused the price of oil to skyrocket. He deserves every bit of voter sentiment blaming him. It's not all accurate, but he chose the wrong fight and will pay for it. That we agree on.

But his policies are nonexistent, what few he passed have almost entirely been oberturned, blocked or reversed for one reason or another. So where are we? Oil companies still don't have any reason to want to increase supply at a time when they don't have to do anything to hell and still make record breaking profits. Some people will put the blame all on Biden (most Republicans, some Democrats) and other's will blame oil industry scalping (most Democrats, few Republicans). At the end of the day, more oil leases won't generate more drilling, the Keystone XL won't result in more oil this year, the next year or likely the third year because the existing Keystone pipeline isn't at capacity. What we could use? Tax credits for cleaner practices. Royalty reductions for oil companies who increase production at a time of crises, codifying SPR fluidity and repurchases at market rates. Lastly, green policies which decrease American reliance on gasoline without demonizing the oil companies, and celebrating how that'll make more oil available for better causes.
07-28-2022, 10:02 PM
Seran

Quote:

Originally Posted by Suppa Hobbit Mage

Because increasing taxes in a recession makes sense... and I don't believe for a fucking minute it "pays for itself". That's democrat for we can't do math.

Taxes are on profits. No profits, no taxes. Kthxbye.
07-28-2022, 10:11 PM
Suppa Hobbit Mage

Quote:

Originally Posted by Seran

Taxes are on profits. No profits, no taxes. Kthxbye.

Goddamn it, I forget you are just a troll. I gotta stop getting sucked into a debate with an imbecile, it's wasted.
07-28-2022, 10:42 PM
Seran

Quote:

Originally Posted by Suppa Hobbit Mage

Because increasing taxes in a recession makes sense... and I don't believe for a fucking minute it "pays for itself". That's democrat for we can't do math.

Yeah, because this was high minded debate. Haha.