US Oil Producers Fail to Produce

[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/hi...-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]

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...outputType=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.