Things that made you Facepalm today (Political Version)

[Tgo01]

How many actual barrels need to be sold at those prices before they see a profit? How long does it take to create a new well? How long does it take to produce and sell those barrels? If they opened up all these new wells how quickly will prices drop? How far will they drop? What incentive do they have for opening new wells other than people's feelings?

These are all points I have been trying to get across to him, but all he can come up with is "Duh........they purposefully not drilling for more oil because they want high oil prices!!!"

Oil was literally selling for negative dollars just a couple of years ago because of government shutdowns, the same government who now says they want to end fossil fuels forever. How dare the oil industry worry something like that can happen again.

Speaking of oil selling for negative dollars, this just goes to show how stupid Seran is for thinking the oil companies set the price of oil on the commodities market. If they did that do you really think they would have sold their product for negative dollars?

[Parkbandit]

There is still tons of profit they could make from new wells with the current price of oil, but they don't want to lower the price with more supply.

So, it's not $25-$35 for a new well, it's $48-$69 according to your source.

And isn't high gas prices exactly what the Biden Administration has been working towards?

Sounds like their plan is working as intended.

[Seran]

How many actual barrels need to be sold at those prices before they see a profit? How long does it take to create a new well? How long does it take to produce and sell those barrels? If they opened up all these new wells how quickly will prices drop? How far will they drop? What incentive do they have for opening new wells other than people's feelings?

You're asking questions that only a senior project manager or accountant within an oil company would know, information he would then pass on to a senior executive who would then make decisions dependent on illegal supply agreements formulated by their trade group API. While it's cute you would know some of the considerations that go into whether to drill a new well, complete an existing well or unidle a pump, you do not even know the answers to those questions. Stop being a hypocrite

[drauz]

How many actual barrels need to be sold at those prices before they see a profit? How long does it take to create a new well? How long does it take to produce and sell those barrels? If they opened up all these new wells how quickly will prices drop? How far will they drop? What incentive do they have for opening new wells other than people's feelings?

This entire discussion is because Tgo claimed democrats are blocking production.

[drauz]

These are all points I have been trying to get across to him, but all he can come up with is "Duh........they purposefully not drilling for more oil because they want high oil prices!!!"

Oil was literally selling for negative dollars just a couple of years ago because of government shutdowns, the same government who now says they want to end fossil fuels forever. How dare the oil industry worry something like that can happen again.

Speaking of oil selling for negative dollars, this just goes to show how stupid Seran is for thinking the oil companies set the price of oil on the commodities market. If they did that do you really think they would have sold their product for negative dollars?

I can't even see the goalposts anymore with how far you've moved them.

[Tgo01]

This entire discussion is because Tgo claimed democrats are blocking production.

I said Western governments all over the world are either blocking production or making it increasingly expensive to do so. You can't possibly deny this.

Biden shut down Keystone. California shutting down oil wells.

The US (12 million barrels per day), Canada (4.4 million), and Norway (1.7 million), produce the most oil in Western nations. The next largest is UK at 800k a day, then Australia at 300k a day, then Italy at 100k a day, then it's all less than that. Granted many of these Western countries don't have as much oil as the US or Canada, but they sure as shit have more than they are pumping out. But gee, I wonder why they aren't pumping out more? Oh right, must be because the US oil execs got together with oil execs in these other countries and said "Psssst! Don't drill for more oil and make more money! Do us a solid and keep the oil price high! Thanks!" Yeah, that must be it, not the left wing governments in these countries who have been pushing for more green energy for decades that could possibly be stifling oil production in these countries.

Meanwhile OPEC+ produces over half of the oil pumped out of the ground, and now we are seeing how great it is to rely on countries like Russia to supply our energy needs.

[Tgo01]

I can't even see the goalposts anymore with how far you've moved them.

I haven't moved them. Perhaps you're just having trouble reading a simple conversation written in plain English?

Do you not think more regulations and higher fees and taxes make it more difficult to pump more oil out of the ground? If an oil company could get approval within 2 weeks to build a new drill and it would cost them hardly anything in fees and regulations do you really think there wouldn't be more drills going up right now? It can sometimes take years to actually get the green light to build a new oil rig. Shit, just look at the KeystoneXL pipeline, was caught up in courts and other government bullshit for over a decade before Biden just came along and said "Higher gas prices for the peasants! Get an electric car!" and shut it down for good because investors ain't gonna keep pumping money into that money pit.

Remember this all started because YOU said "Welcome to capitalism."

Do you think capitalism is to blame for KeystoneXL not being built? Capitalism was ready, willing, and able to get that shit done fast, much faster than it took for GOVERNMENT to shut it down.

[Jeril]

You're asking questions that only a senior project manager or accountant within an oil company would know, information he would then pass on to a senior executive who would then make decisions dependent on illegal supply agreements formulated by their trade group API. While it's cute you would know some of the considerations that go into whether to drill a new well, complete an existing well or unidle a pump, you do not even know the answers to those questions. Stop being a hypocrite

LOL at you being retarded.

[Jeril]

This entire discussion is because Tgo claimed democrats are blocking production.

You don't think all the red tape TGO keeps harping about plays a role in the answer to those questions?

[Methais]

This entire discussion is because Tgo claimed democrats are blocking production.

Yeah well republicans are blocking abstinence according to Seran, so that makes things even.