teamgreen02 Posted August 11, 2021 Share Posted August 11, 2021 Looks like the Democrats are worried about inflation more than they are about global warming now. No Keystone XL pipeline but go ahead and send it in by tankers from the Middle East? Someone make this makes sense. Quote WASHINGTON—The White House urged OPEC to boost oil production Wednesday, saying recent planned increases are insufficient as countries around the world seek to emerge from the Covid-19 pandemic. National security adviser Jake Sullivan said in a statement that recent planned production increases by the Organization of the Petroleum Exporting Countries would “not fully offset previous production cuts” made by OPEC and its oil-producing allies during the pandemic. “At a critical moment in the global recovery, this is simply not enough,” Mr. Sullivan said. Brent crude, the international oil benchmark, fell 0.8% to $70.04 a barrel after the White House announcement. Oil prices have experienced volatility in recent days due to concerns over the Delta variant of Covid-19. In July, OPEC and a group of Russian-led oil producers agreed to unleash millions of barrels of crude over the next two years, committing to restore all the cuts they made at the start of the Covid-19 pandemic. The group chose to move gradually, with monthly installments of new oil through the latter end of 2022. The Biden administration’s move comes as it has sought to push back against concerns about inflation. Inflation remained elevated in July, but showed evidence of cooling as the economic recovery continued amid pandemic-related supply problems. Consumer prices rose 5.4% in July from a year earlier, the same pace as in June and the highest 12-month rate since 2008, the Labor Department reported Wednesday. Energy prices rose 1.6% in July from June, following a 1.5% rise in June from May. Gasoline prices were up 2.4% last month, after climbing 2.5% the prior month. Both categories fell steeply last year during the pandemic and have soared this year. Republicans have criticized President Biden’s energy policies and rising fuel prices, pointing to decisions such as the cancellation of the Keystone XL pipeline as indications that Mr. Biden’s administration has sided with environmental interests over oil-and-gas companies. Sen. John Cornyn (R., Texas) said after Mr. Sullivan’s statement that “begging the Saudis to increase production while the White House ties one hand behind the backs of American energy companies is pathetic and embarrassing.” Mr. Biden said in remarks at the White House Wednesday that average gasoline prices are lower than previous periods, but “they’re still high enough to create a pinch on working families.” Previous U.S. administrations have called on key OPEC members to raise output at times of high oil prices, sometimes with success. OPEC delegates on Wednesday said they saw no need to bring back oil faster. Saudi officials said they were confused by the Biden administration’s stance, which is seeking to reduce oil consumption, while asking OPEC to pump more oil. “Isn’t [Biden] about climate change and the impact of oil on the environment?” asked a Saudi oil official. “How come now they are asking for more?” Other delegates also said the world had yet to turn the page on the pandemic. “The Delta variant is still there,” said a representative from an African OPEC country, referring to a strain of the Covid-19 virus that has devastated India and China, the world’s fastest-growing oil consumers. “We are not out of the woods yet when it comes to the pandemic.” OPEC delegates also warned that lower oil prices could hinder spending on oil and gas projects, which could in turn bring about a bigger spike in prices in the future, particularly at a time when big oil companies are already under pressure to cut fossil-fuel investments in response to climate change. White House press secretary Jen Psaki said the public push for OPEC to increase production “needs to be a continuous and ongoing conversation and we need to elevate this issue in public and certainly in the global community.” American oil companies have recently made a strategic shift from focusing on pumping increasing amounts of oil to spending just enough money to keep their output flat. The shift began before the pandemic, as investors starved the industry of capital following years of poor returns. They had pushed companies to use cash to pay off debt and return more money to shareholders. Then, the pandemic left shale producers scrambling to save money. When oil prices turned negative during the worst of the virus-induced economic downturn in spring of 2020, shale companies shut thousands of wells, cutting the nation’s output to the lowest since late 2017. While it has recovered in fits and starts to 11.2 million barrels a day as of May 2021, it is still down about 13% from pre-pandemic levels, according to the Energy Information Administration. Shale executives have said they don’t expect U.S. production to reach pre-pandemic levels for years, if ever. The White House also asked the Federal Trade Commission in a letter to use “all of its available tools” to monitor the U.S. gasoline market and take action against “any illegal conduct that might be contributing to price increases for consumers at the pump.” “With its suite of tools to monitor industry prices, review merger-and-acquisition activity, conduct market studies, and investigate market manipulation and anti-competitive practices, the FTC is well placed to lead the effort to evaluate what is happening in the U.S. gasoline market and take any necessary steps to address illegal conduct,” National Economic Council director Brian Deese wrote in the letter to FTC chair Lina Khan. The letter urged the FTC to join with the Justice Department, the Federal Energy Regulatory Commission, the Commodity Futures Trading Commission and state attorneys general on the effort. Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted August 11, 2021 Author Share Posted August 11, 2021 Statement by the WH. Quote Link to comment Share on other sites More sharing options...
1jkw Posted August 11, 2021 Share Posted August 11, 2021 OPEC was in a disagreement between SA and UAE, they were going to start adding 400,000 BPD this month, the disagreement was over SA and Russia wanting to be able too sell more oil. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted August 11, 2021 Share Posted August 11, 2021 Gas is pretty cheap here. I’ve been traveling a lot and can’t complain. 1 Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted August 12, 2021 Share Posted August 12, 2021 3 hours ago, ActionfigureJoe said: Gas is pretty cheap here. I’ve been traveling a lot and can’t complain. Bull shit 3 10 is not cheep I have been spending around 2hundo a week for some time now . Thanks Joe Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted August 12, 2021 Share Posted August 12, 2021 8 minutes ago, Ez ryder said: Bull shit 3 10 is not cheep I have been spending around 2hundo a week for some time now . Thanks Joe Filled up the truck yesterday. $2.77/gal. The Storyteller takes diesel. $2.99/gal. I can live with that. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 12, 2021 Share Posted August 12, 2021 Just now, ActionfigureJoe said: Filled up the truck yesterday. $2.77/gal. The Storyteller takes diesel. $2.99/gal. I can live with that. that was OK when trump was president not just when joe came in. it has nothing to do with the economy it was all because of keystone and all the tar flowing south for refining Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted August 12, 2021 Share Posted August 12, 2021 Just now, ActionfigureJoe said: Filled up the truck yesterday. $2.77/gal. The Storyteller takes diesel. $2.99/gal. I can live with that. Best fill your cans it will be north if 3 in your parts very soon been north of 3 in mn for at least 2 weeks Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted August 12, 2021 Share Posted August 12, 2021 Just now, Angry ginger said: that was OK when trump was president not just when joe came in. it has nothing to do with the economy it was all because of keystone and all the tar flowing south for refining And ending leases . The fact we ate even having to talk with opec is gross at best Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted August 12, 2021 Share Posted August 12, 2021 Just now, Ez ryder said: Best fill your cans it will be north if 3 in your parts very soon been north of 3 in mn for at least 2 weeks I paid $5/gal for diesel when Bush was in office. I survived. Quote Link to comment Share on other sites More sharing options...
Big Crappie Posted August 12, 2021 Share Posted August 12, 2021 West Texas and North Dakota are reopening wells every day. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted August 12, 2021 Share Posted August 12, 2021 1 minute ago, Big Crappie said: West Texas and North Dakota are reopening wells every day. They’ll reopen as the price of oil becomes profitable enough for them to do so. Quote Link to comment Share on other sites More sharing options...
Big Crappie Posted August 12, 2021 Share Posted August 12, 2021 2 minutes ago, ActionfigureJoe said: They’ll reopen as the price of oil becomes profitable enough for them to do so. correct Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted August 12, 2021 Gold Member Share Posted August 12, 2021 Anybody bitching about gas prices is a broke joke. So many cheaper options out there for transport if you can’t afford gas. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted August 12, 2021 Share Posted August 12, 2021 28 minutes ago, BOHICA said: Anybody bitching about gas prices is a broke joke. So many cheaper options out there for transport if you can’t afford gas. Tell us all about it this winter when it is costing 1400 bucks in gas to run out west and back once Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted August 12, 2021 Gold Member Share Posted August 12, 2021 Just now, Ez ryder said: Tell us all about it this winter when it is costing 1400 bucks in gas to run out west and back once Fly and rent. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 12, 2021 Share Posted August 12, 2021 46 minutes ago, Ez ryder said: And ending leases . The fact we ate even having to talk with opec is gross at best i put opec gas in my tank every week during trumps presidency so lets not pretend we weren't dealing with them still Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted August 12, 2021 Share Posted August 12, 2021 3 minutes ago, BOHICA said: Fly and rent. 1 time great. 3 or 5 not great . Not to mention the best spots to ride have no rentals even remotely close let alone a cab ride away. We keep 4 toy haulers and 4 trucks in kremmiling all winter but you still chase the storms Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted August 12, 2021 Share Posted August 12, 2021 3 minutes ago, Angry ginger said: i put opec gas in my tank every week during trumps presidency so lets not pretend we weren't dealing with them still Less than at any time in your life Total U.S. annual primary energy net imports (imports minus exports) generally increased in most years since the mid-1950s and reached a record high in 2005, equal to about 30% of total U.S. energy consumption. Since 2005, total annual energy imports have decreased and total energy exports have increased. The United States became a net total energy exporter in 2019 for the first time since 1952 and maintained that position in 2020 even though both total energy production and consumption were lower in 2020 than in 2019. Total U.S. energy exports exceeded total energy imports by 3.46 quadrillion British thermal units (quads) in 2020, the largest margin on record. U.S. energy exports in 2020 totaled 23.47 quads, and energy imports fell 13% to 20.0 quads, the lowest level since 1992. 2 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 12, 2021 Share Posted August 12, 2021 I thought you Trump big shot Wall Street investors were bragging you made double digits in the market the last few years? You cheap fucks can afford another few nickels a gallon. Shut up. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted August 12, 2021 Gold Member Share Posted August 12, 2021 (edited) 36 minutes ago, Ez ryder said: 1 time great. 3 or 5 not great . Not to mention the best spots to ride have no rentals even remotely close let alone a cab ride away. We keep 4 toy haulers and 4 trucks in kremmiling all winter but you still chase the storms So you keep 4 trucks and 4 trailers out west…. Probably a group of guys. 1400 in gas round trip is a couple hundred a pop for each. But why you hauling sleds when you already have trucks and trailers stored in Colorado? All winter. Driving 4 - 5 times from East to West and then West to East is stupid! You could fly and ride to various areas out west for the same price but not have to spend hours driving. You aren’t dragging mountain sleds back and forth for no reason are you??? If you are leaving 4 trucks and 4 toy haulers in Colorado hopefully you are leaving the mountain sleds their to go with it. Edited August 12, 2021 by BOHICA Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 12, 2021 Share Posted August 12, 2021 Biden urges investigation into 'illegal activity' that may be causing spike in gas prices Source: USA Today WASHINGTON – President Joe Biden said Wednesday his administration is taking steps to crack down on illegal activity that might be contributing to a rise in gas prices. Biden announced that the National Economic Council has asked the Federal Trade Commission to use “every available tool” to monitor the U.S. gasoline market and look for any illegal activity that might be causing gas prices to jump while the cost of a barrel of oil is going down. “That’s not what you’d expect in a competitive market,” Biden said from the White House. "I want to make sure that nothing stands in the way of oil price declines leading to lower prices for consumers." The administration's actions come as gas prices have jumped more than energy prices over the past year. The price of gas has jumped 42%, while energy has risen 24%, according to the Labor Department. The average gas price in January was $2.326, almost a dollar less than what the average gas price was last month. Read more: https://www.msn.com/en-us/news/us/biden-urges-investigation-into-illegal-activity-that-may-be-causing-spike-in-gas-prices/ar-AANddri?li=BBnb7Kz 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted August 12, 2021 Platinum Contributing Member Share Posted August 12, 2021 Gas has gone up a buck a gallon so far but yeah about those few nickels. Idiot if you didn't make good money under Trump then your a fucking turnip Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted August 12, 2021 Platinum Contributing Member Share Posted August 12, 2021 https://www.facebook.com/james.web.338211/videos/195095935931420 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 12, 2021 Share Posted August 12, 2021 30 minutes ago, Skidooski said: Gas has gone up a buck a gallon so far but yeah about those few nickels. Idiot if you didn't make good money under Trump then your a fucking turnip A buck? Lol OKaaaayyyyy Quote Link to comment Share on other sites More sharing options...
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