US Oil Producers Fail to Produce

[Neveragain]

an illegal war that triggered sanctions

If you want to argue that the US had no business getting involved with a conflict that posed no threat to the US tax payer and because of that involvement, the US taxpayer is getting ass raped. I would agree, though, it only accounts for less than half of the price increase of todays oil prices.

Why is war only legal when the US is the one dropping bombs?

[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...

Good, you admit that the sanctions and forced refusal of Russian energy exports is the cause, that's progress.

AND we have the lingering supply cuts agreed to by American producers through the API and OPEC+ in April 2020 via the Trump Whitehouse.

This is refuted by the energy report just posted. Read it.

[Seran]

Good, you admit that the sanctions and forced refusal of Russian energy exports is the cause, that's progress.



This is refuted by the energy report just posted. Read it.

You're confusing cause and effect. Russia invades Ukraine and the resulting sanctions were the effect. If Russia hadn't taken provocative actions against Ukraine, the sanctions would not occur.

[Neveragain]

What do you do when your administration is the biggest dumpster fire in half a century?

Democrats:

[Neveragain]

Russia is winning.

We tried telling you that this would happen, too bad it's going to cost the American taxpayer 100's of billions.

[Furryrat]

You're confusing cause and effect. Russia invades Ukraine and the resulting sanctions were the effect. If Russia hadn't taken provocative actions against Ukraine, the sanctions would not occur.

Let me amend my response to alleviate your confusion:

"Good, you admit that the sanctions and forced refusal of Russian energy exports is the cause OF RAPIDLY RISING OIL PRICES AND THE ENERGY CRISIS*, that's progress."

*and not US producers failing to produce, or US refiners failing to refine, or US exporting too much oil, or US hoarding too much oil, or Trump did whatever 2 years ago.

[Seran]

Let me amend my response to alleviate your confusion:

"Good, you admit that the sanctions and forced refusal of Russian energy exports is the cause OF RAPIDLY RISING OIL PRICES AND THE ENERGY CRISIS*, that's progress."

*and not US producers failing to produce, or US refiners failing to refine, or US exporting too much oil, or US hoarding too much oil, or Trump did whatever 2 years ago.

You've still got it wrong, but I understand. There there.

[Seran]

In case any of you were still confused of the Big Oil lobbyist group and it's detrimental actions towards American consumers. They are objecting to the bipartisan effort to hold OPEC accountable for price fixing and collusion. No surprise that they're against any type of court action which would further expose their own efforts in April 2020 to collude with OPEC+ to restrain supply.

API Opposed To U.S. Bill Allowing Antitrust Lawsuits Against OPEC

A bill that would pave the way for the U.S. to sue OPEC members and its allies under antitrust laws could have an unintended negative impact on America’s oil and gas industry, the American Petroleum Institute (API) said in a letter seen by Reuters.

The so-called No Oil Producing and Exporting Cartels Act (NOPEC) has been an on-and-off topic for U.S. lawmakers and Administrations for nearly two decades but has never moved past discussions at committees in Congress.

"Begging oil cartels for help is not the answer to combatting sky high ga$ price$,” Senator Grassley said on Twitter, adding that “We should hold cartels accountable for price-fixing/market manipulation.”

The bill was again introduced last year by Senator Grassley and Senators Amy Klobuchar (D-Minn.), Mike Lee (R-Utah) and Patrick Leahy (D-Vt.). NOPEC legislation was advanced in the House Judiciary Committee earlier in 2021.

https://www.reuters.com/business/ene...ec-2022-05-02/

Price manipulation, industry entity collusion to reduce supply, these are anticompetitive acts which the American Petroleum Institution was recently sued for in federal court.

[Furryrat]

OPEC is essentially a union, I thought Biden and Democrats were pro-union?

If sanctioning Russia and removing 11 million barrels per day from global markets did this, will suing Saudi Arabia make it better or worse?

[Neveragain]

OPEC is essentially a union, I thought Biden and Democrats were pro-union?

If sanctioning Russia and removing 11 million barrels per day from global markets did this, will carpet bombing Saudi Arabia make it better or worse?

Fixed for accuracy.