Not Congress…Biden.Quote:
Originally Posted by Seran
https://moran.senate.gov/public/inde...D-A9A1A4D29CD0
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Not Congress…Biden.Quote:
Originally Posted by Seran
https://moran.senate.gov/public/inde...D-A9A1A4D29CD0
This is where Seran will either stop replying or be like "Expected response from someone who wants to murder children and destroy the planet." or some other similar soy based retarded word diarrhea.Quote:
Originally Posted by Suppressed Poet
It ain't just laws. Money has both a value and a cost, and neither are fixed.Quote:
Originally Posted by Seran
For example, perhaps you have heard of the acronym ESG thrown around monetary discussions. This stands for Environmental, Social, and Governance, which are three high-risk exposure areas for public companies which impact asset valuations and cost of borrowing. Industries and companies therein are ranked and scored based upon their exposure to elements within each area, and these scores are used by asset managers and investors to determine risk.
Let's take a basic look at ESG for an energy producer:
Environmental - High Risk. Oil spills, leaks, and other pollution risks and associated costs are dramatically higher for this industry. Heavily regulated by the EPA and dozens of other entities from the Federal to local levels. Hundreds of billions of dollars are spent and lost by companies as the courts intervene and halt projects while yet another environmental impact study is performed.
Social - High Risk. Whether prices are high or prices are low, energy companies are demonized publicly all day, every day. A good friend of mine, a software developer working on green zero-carbon projects, was slapped and beer soaked on a first date when he revealed that he worked for Exxon Mobil. The hate out there is real, and it has a cost. The Russia hate falls here too. The Russia bad, cancel Russia mob drove corporations to leave Russia. Remember, Russia did not cut off oil and gas to the global markets, the mob pressured governments to stop the flow into their respective countries.
Governance - High Risk. Hard to run a company when the rules are always changing. Democrats have file servers full and AWS government cloud is hosting petabytes of proposed new regulation for green initiatives and fossil fuel starvation. Another Russia hit too. Everyone sees oil executives and lobbyists as pitchfork-wielding devils dancing around piles of burning cash, right? (think Dick Cheney and Rex Tillerson) Truth is though, American energy companies are well run, diverse, and pay very well.
What does it mean? Energy companies have suffered a decade long period of underinvestment and low valuation due to these factors. They are only now starting to become anywhere near fairly valued as the markets push toward extremes, with investors finally returning to the sector. Every executive in the business is singularly focused on returning capital to these investors in order to retain that valuation, because they all know it's only a matter of time before the ESG risks weigh heavy enough again to drive it back down.
Idealism and legislative activism has a very real cost. We are all paying it right now.
Sounds like your friend dodged a bullet. He should have pressed charges for assault anyway. I'm sure his date has no concept of being held accountable for anything and could use a reality check. Especially with her going nuts like that being completely ignorance based too.Quote:
Originally Posted by Furryrat
Seran probably wishes she would have stabbed him.
Exactly, there has been no legislation or action taken by Congress and no real action taken by Biden. The oil companies are making a staggering profit, artificially keeping the oil supply constricted to keep prices high and stables and those fortunate enough to also be in their refining business are making triple their profits as a result of their illegal, anticompetitive arrangements.Quote:
Originally Posted by Furryrat
"The Democrats want to create carbon alternatives because oil is a finite resources," is not a valid legal argument for the anticompetitive arrangements put together by Big Oil. No more than a pharmaceutical company theorizing the creation of a cure for cancer is a threat to cancer treatment manufacturers. You can blame anything you want, but the legal and financial repercussions taking place solely at this direction of Big Oil is the cause of a third to half of the current inflation.
Nevertheleft said lawmakers and last I checked, the executive branch doesn't have the authority to draft and pass its own legislation. Your infographic is wildly inaccurate and not the cause of Big Oils price manipulationQuote:
Originally Posted by Suppressed Poet
Not shocked, but you missed the whole point. Maybe this will help, from the Short-Term Energy Outlook report published today:Quote:
Originally Posted by Seran
"Although crude oil prices remain high because of low oil inventories and significant geopolitical uncertainty, we estimate that world production of petroleum and other liquids has returned to within 1% of its pre-pandemic level in March 2020. We estimate that U.S. production of crude oil and other liquids averaged 19.9 million b/d in May, which was within 3% of January 2020’s record high production of 20.5 million b/d. We also estimate that OPEC crude oil and other liquids production has returned to pre-pandemic levels: May OPEC production was 33.7 million b/d, 1% higher than the first quarter of 2020 (1Q20) OPEC production of 33.4 million b/d. Furthermore, OPEC+ announced on June 2 that they will increase crude oil production targets for July and August. We forecast that OPEC crude oil and total liquid fuels production will increase to 34.6 million b/d in 3Q22, the highest since 2Q19."
And just a snip from the Q3 forecast: "U.S. refinery utilization averages 94% in 3Q22 in our forecast, as a result of high wholesale product margins."
https://www.eia.gov/outlooks/steo/ma...view/crude.php
Quote:
Originally Posted by Seran
https://c.tenor.com/TD_mbIXzI4sAAAAC...onburgundy.gifQuote:
Originally Posted by Seran
And evidently you didn't reach anything else which has been posted regarding our country not being a closed loop for oil and gas production and export. Had oil experts not been allowed again and gas products also curtailed, then there would be a much much wider margin between the WTI average and Brent. The crack margin would also be much less as a result.Quote:
Originally Posted by Furryrat
Instead we have one of the biggest exporters of crude in the world having majorly curtailed its exports as a result of an illegal war that triggered sanctions AND we have the lingering supply cuts agreed to by American producers through the API and OPEC+ in April 2020 via the Trump Whitehouse.
So let's recap. Globalization of American resources, reduced supply worldwide has driven up prices, supply is further being suppresses by Big Oil and OPEC+ agreements.
Let's pretend all your soy based crying about big oil is accurate for a minute, and also pretend that 0% of this is Biden/democrats fault.Quote:
Originally Posted by Seran
Good. It still makes them look like shit and they'll still get annihilated in the midterms, because the pedocrat party is overflowing with retards like you now, and anything that gets them out of office so we can get back to something at least resembling some sort of normalcy is a good thing for everybody, including dumbass tards like you.
Fortunately, Biden/dems have a lot to do with it, which means it'll just be that much worse for you in November.
I look forward to your post-election butthurt.