US Oil Producers Fail to Produce

[beldannon5]

Well of course. Biden is all good trump is all evil. Lol

[Seran]

... So Biden is only responsible for good things, but never anything negative?

Regarding the current cost of oil and this conversation, yes.

[Neveragain]

You're right, Biden couldn't stop Russia from invading Ukraine.

Russia invading the Ukraine didn't raise gas prices, sanctions on Russia added to the already increased gas prices under this administration.

Biden even said he's willing to make the US citizens suffer at the pump and the grocery store until Russia is defeated. Never mind Russia has already won.

60 billion dollars that was basically just thrown into a fire plus how many 10's of billions it's costing consumers in inflated prices because of the sanction. And now even you complain that the Ukraine is asking for 750 billion to rebuild the country and the war isn't even over.

[Methais]

Phillips 66, headquartered in Houston, TX
Atlantic Trading & Marketing Inc., headquartered in Houston, TX

American firms listed above, contacted to purchase oil reserves from the SPR and followed up by making contracts with overseas refiners to purchase the oil. Please call your far right senator and let them know you're all for ending petroleum and petroleum exports again.

Pretending for a moment that what you're saying here, with no source like usual, is accurate, which is me being really really generous because you're wrong and stupid 100% of the time you click the post button, but anyway, I like how you're so desperate to try and make some sort of point that you're conflating SPR with "regular" oil, you know, as in non-reserves. And like always, I'm not sure if you're just that stupid, or if you're just that dishonest.

What would have happened with the SPR had Biden not released any of it? Would it somehow be getting exported anyway? Or is this the part where you'll shut the fuck up until MSNBC updates your brain with the latest patch?

Oil prices rise, I blame Trump.
Oil prices fall by .0000001%, Biden is a hero who's working tirelessly to undo these horrible gas prices that Trump caused.
Oil price rises again, and it's Trump's fault.
Oil prices fall by another 0.2%, because Biden is the best president ever.
Biden opens up our reserves and exports them, but none of that could ever be Biden's fault.

Fixed for accuracy.


Fun fact: Most people aren't nearly as stupid as you are, even other democrats, which is why so many of them are switching to registering as republicans now, and democrats are getting destroyed in November pretty much no matter what, in spite of your 24/7 Biden worship projection fueled crying over your own stupidity and inner contempt.

Good job. Now let's hear some more of that butthurt.

[Methais]

... So Biden is only responsible for good things, but never anything negative?

Regarding the current cost of oil and this conversation, yes.

Ahahahahahahahahahahahaha you stupid fuck.

[Gelston]

Regarding the current cost of oil and this conversation, yes.

Whatever happened to "the buck stops here"? Sycophants.

[Seran]

Pulling this over from the other thread to immortalize just how wrong Dreaven is on the subject.

Do you not think more regulations and higher fees and taxes make it more difficult to pump more oil out of the ground?

Simple answer, no.

Tens of thousands of active federal leases in the United States, a significant number of which (thousands) were purchased without any exploration having been begun in /years/. So much for the argument of the federal government preventing exploration.

Over 9,000 fully drilling permits have been granted that are idle, the oil companies are simply not making use of them. There goes the argument of regulation preventing drilling from occurring.

You seem to think that these oil companies, who are making billions each month are somehow crippled for cash to fund capital expenditures and are reliant on investors for funding. Just how do you wrap your brain around the argument that with more money hitting the petroleum industry than in many decades, that they're desperate for investors to 'keep pumping money into the money pit?'. Corporate leadership decides how much money will be put into drilling operations, how much into infrastructure development, in-house drilling and completions teams, and how much of their net revenue has been going into dividends (a solid fraction) and stock buybacks (the overwhelming majority). If a stockholder decides they don't like the direction expenditures are going, they're free to file a lawsuit or seek to replace board members who then can replace executives making decisions. But, since the tear stained dollars of desperate Americans are being shoveled at them by the truckload, stockholders are through the moon.

Try and educate yourself on a topic before re-posting your Conservative taskmaster's opinions.

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.

Biden did shutdown the Keystone XL pipeline, it's true and that created some Big Mad for oil executives looking to export more Canadian oil internationally. But there is no shortage of oil pipeline capacity in the United States.

https://www.reuters.com/business/ene...ut-2022-05-11/

https://money.usnews.com/investing/n...building-spree

https://www.eia.gov/todayinenergy/detail.php?id=50236 "Added transnational oil pipeline capacity could reduce crude oil shipped by rail

https://www.cbc.ca/news/canada/keyst...iden-1.5882313 "Why the U.S. isn't in desperate need of the Keystone XL pipeline"

As for oil wells being shut down in California? Can you actually support this argument at all? So far, only Los Angeles has banned new wells and is phasing out wells that are within a mile of residential neighborhoods. The why of that should speak for itself.

OPEC+ is a collaboration of 24 oil producing nations. 24. That they produce more oil than a single country like the United States isn't surprising, yet there is absolutely nothing stopping Big Oil in our country from ramping up production, other than their stated desire to maintain higher oil prices by keeping new supply low. This has been quoted multiple times, but it doesn't fit your narrative so you ignore fact. The only thing stopping the oil export monopoly in the United States you so desperately crave are the oil companies themselves.

[Seran]

Whatever happened to "the buck stops here"? Sycophants.

Umm, President Truman left office in 1953.

[Seran]

Russia invading the Ukraine didn't raise gas prices, sanctions on Russia added to the already increased gas prices under this administration.

Biden even said he's willing to make the US citizens suffer at the pump and the grocery store until Russia is defeated. Never mind Russia has already won.

60 billion dollars that was basically just thrown into a fire plus how many 10's of billions it's costing consumers in inflated prices because of the sanction. And now even you complain that the Ukraine is asking for 750 billion to rebuild the country and the war isn't even over.

Gotcha, you want Russia to succeed in annexing Ukraine. How hard was that to admit your association with Putin and his support for Russia's manifest destiny ideal. You're now part of the tiny fraction of US residents supporting totalitarianism, congratulations.

[Tgo01]

Simple answer, no.

Over 9,000 fully drilling permits have been granted that are idle, the oil companies are simply not making use of them.

Of course! Regulations, fees, and red tape actually make it EASIER to get oil out of the ground.

Also I have already explained this wrong Democrat talking point but I'll do it again. Those drilling permits are NOT the same thing as being granted permission to actually build a drilling rig. All those permits basically do is say "Okay company A, you have exclusive right to explore for oil in this region."

There is a whole other process they must go through before construction can actually begin, including but not limited to: multiple environmental studies and countless lawsuits at the local, county, state, and federal level, any of which can kill the project outright or stall the start of construction for years.

"But....but regulations and red tape doesn't make it harder to get oil out of the ground!"

Fucking moron.