I think I explained it pretty well.  When we drill and produce our own oil or open up the oil reserves, oil and gas prices go down.  This seems to happen about a year or so before an election.   This happens to be controlled by washington and who is there.  Not rocket science.

1 minute ago, racer254 said:

I think I explained it pretty well.  When we drill and produce our own oil or open up the oil reserves, oil and gas prices go down.  This seems to happen about a year or so before an election.   This happens to be controlled by washington and who is there.  Not rocket science.

That's a nice story, but what you fail to realize is, it is a world market, SA was selling crude to the US and a few other countries for 7 to 8 dollars under world market prices to hurt the shale oil companies, Russia was also pumping extra oil to flood the market.

Just now, 1jkw said:

That's a nice story, but what you fail to realize is, it is a world market, SA was selling crude to the US and a few other countries for 7 to 8 dollars under world market prices to hurt the shale oil companies, Russia was also pumping extra oil to flood the market.

It is a nice story because it is TRUE and it works.  You bs talk about SA and the games they play mean nothing when we don't need their oil.  That is what happened and is controlled by the powers in washington, NOT Russia or SA.

2 hours ago, racer254 said:

It is a nice story because it is TRUE and it works.  You bs talk about SA and the games they play mean nothing when we don't need their oil.  That is what happened and is controlled by the powers in washington, NOT Russia or SA.

So Trump and the republican house and senate raised the price in 2017/18/19, over 2015/16 and then Trump the democratic house and republican senate lowered the price in 2020, it wasn't the fact that there was a pandemic? The fact that SA and Russia were producing in excess of 400,000 BPD had nothing to do with it in your mind?

Higher oil prices is good. That means the oil shale companies can start producing again. American sourced energy is a good thing. 

4 hours ago, 1jkw said:

So Trump and the republican house and senate raised the price in 2017/18/19, over 2015/16 and then Trump the democratic house and republican senate lowered the price in 2020, it wasn't the fact that there was a pandemic? The fact that SA and Russia were producing in excess of 400,000 BPD had nothing to do with it in your mind?

What don't you understand about oil independence?  Obviously you are not getting "something"

Edited October 22, 20213 yr by racer254

1 hour ago, racer254 said:

What don't you understand about oil independence?  Obviously you are not getting "something"

So what you said about Washington was just bullshit, you keep moving goal posts and changing stories .   

Oil is sold on the open market when other countries produce more oil it lowers the price of ours, when they produce less it raises the price, when world supply is up a demand low prices are low when demand is high and output low prices are up, simple supply and demand.   

What you completely fail to grasp is that as long as our oil is sold on the open market, world supply and demand dictate the price. 

4 minutes ago, 1jkw said:

So what you said about Washington was just bullshit, you keep moving goal posts and changing stories .   

Oil is sold on the open market when other countries produce more oil it lowers the price of ours, when they produce less it raises the price, when world supply is up a demand low prices are low when demand is high and output low prices are up, simple supply and demand.   

What you completely fail to grasp is that as long as our oil is sold on the open market, world supply and demand dictate the price. 

He wants socialized oil. LOL

12 hours ago, 1jkw said:

That's a nice story, but what you fail to realize is, it is a world market, SA was selling crude to the US and a few other countries for 7 to 8 dollars under world market prices to hurt the shale oil companies, Russia was also pumping extra oil to flood the market.

Who cares we were pumping our own.  If they want to under cut tge world Markets good for them.  When we get a guy in who says he is going to fight fosil fuel and then goes on to cancel pipe lines cancel drilling rights goes on tv bragibg about it . Yeah can't understand why the speculators would drive up prices.  But let's be honest fuel is just the tip of the iceberg of tge financial shit show this administration is fostering like a sick puppy 

4 hours ago, ActionfigureJoe said:

He wants socialized oil. LOL

No just to keep bullshit optical politics out of it. You know like exactly every move bidens puppet masters have made . Worthless optics that will occomplish nothing but higher prices . 

25 minutes ago, Ez ryder said:

Who cares we were pumping our own.  If they want to under cut tge world Markets good for them.  When we get a guy in who says he is going to fight fosil fuel and then goes on to cancel pipe lines cancel drilling rights goes on tv bragibg about it . Yeah can't understand why the speculators would drive up prices.  But let's be honest fuel is just the tip of the iceberg of tge financial shit show this administration is fostering like a sick puppy 

 

If opec+2 decides to flood the market with oil it will kill US oil companies that's why we should care, these state owned companies can sell at far lower costs than US companies can do it for far longer. As far as the Keystone pipeline goes it was not a US owned company, and if you think the poor quality tar sand oil is the reason prices are high you really need to educate yourself. As demand went down and there was no storage left anywhere production was slowed of course, now there is record demand and production is being brought backup opec is resisting raising production too fast as they feel in 2022 demand will fall and SA and Russia will still be able to by agreement add more BPD even when the PPB falls, and yes speculators jump at any chance to drive prices up, they gamble sometimes they win sometimes they lose.

48 minutes ago, Ez ryder said:

No just to keep bullshit optical politics out of it. You know like exactly every move bidens puppet masters have made . Worthless optics that will occomplish nothing but higher prices . 

No, he claimed Washington lowers the price a year or 2 before elections, go back and read his posts.

8 hours ago, 1jkw said:

 

If opec+2 decides to flood the market with oil it will kill US oil companies that's why we should care, these state owned companies can sell at far lower costs than US companies can do it for far longer. As far as the Keystone pipeline goes it was not a US owned company, and if you think the poor quality tar sand oil is the reason prices are high you really need to educate yourself. As demand went down and there was no storage left anywhere production was slowed of course, now there is record demand and production is being brought backup opec is resisting raising production too fast as they feel in 2022 demand will fall and SA and Russia will still be able to by agreement add more BPD even when the PPB falls, and yes speculators jump at any chance to drive prices up, they gamble sometimes they win sometimes they lose.

You sure like to make alotta excuses for this shit show.  We were on a better footing for energy independence with Trump.

 

Stores everywhere are paging Lesko Brandon. What does that mean?

9 hours ago, 1jkw said:

 

If opec+2 decides to flood the market with oil it will kill US oil companies that's why we should care, these state owned companies can sell at far lower costs than US companies can do it for far longer. As far as the Keystone pipeline goes it was not a US owned company, and if you think the poor quality tar sand oil is the reason prices are high you really need to educate yourself. As demand went down and there was no storage left anywhere production was slowed of course, now there is record demand and production is being brought backup opec is resisting raising production too fast as they feel in 2022 demand will fall and SA and Russia will still be able to by agreement add more BPD even when the PPB falls, and yes speculators jump at any chance to drive prices up, they gamble sometimes they win sometimes they lose.

Sorry, but your story is just full of bullshit.  It was proven by the simple fact that the US can produce more oil than these other countries and when it does, our gas prices reflect it.  Stop making excuses and own up to the fact that what I said is 100% true.

Edited October 23, 20213 yr by racer254

53 minutes ago, ArcticCrusher said:

 

Stores everywhere are paging Lesko Brandon. What does that mean?

Don't bring me into this!!

47 minutes ago, racer254 said:

Sorry, but your story is just full of bullshit.  It was proven by the simple fact that the US can produce more oil than these other countries and when it does, our gas prices reflect it.  Stop making excuses and own up to the fact that what I said is 100% true.

You said Washington lowers the price of gas 1 or 2 years before elections, you are full of shit.  

Yes if the US produces more oil it may lower prices like it did in 2015 and 2016, prices went up 2017/2018/ 2019. You can't compare 2020 when oil supply far out paced demand.  

US oil companies need oil to be about 45 DPB to make any money drilling in the US, state owned companies can keep producing oil for far less for far longer. That is why Trump threatened SA if they didn't cut production it was killing US drilling profitability.

I have socialized gas.

2 hours ago, DriftBusta said:

You sure like to make alotta excuses for this shit show.  We were on a better footing for energy independence with Trump.

Prices were higher every year under Trump compared to 2015/2016 except 2020 during the pandemic. 

There are 2 choices to be energy independent, 1 either produce enough oil to make up any shortfall in world demand or 2 only sell US oil within in the US and not sell it on the world market.  

Remember how you blamed Bush when gas was even higher? Nobody else does either.

17 hours ago, 1jkw said:

So what you said about Washington was just bullshit, you keep moving goal posts and changing stories .   

Oil is sold on the open market when other countries produce more oil it lowers the price of ours, when they produce less it raises the price, when world supply is up a demand low prices are low when demand is high and output low prices are up, simple supply and demand.   

What you completely fail to grasp is that as long as our oil is sold on the open market, world supply and demand dictate the price. 

If we increase the supply of oil what happens to the price? 

24 minutes ago, SkisNH said:

If we increase the supply of oil what happens to the price? 

So canceling leases and hindering transporting  won't help production ? 

 

He's such a kook...right   

 

 

55 minutes ago, SkisNH said:

If we increase the supply of oil what happens to the price? 

Depends on world demand and other countries output, in theory if all other oil production remains constant the price should go down.

5 hours ago, DriftBusta said:

You sure like to make alotta excuses for this shit show.  We were on a better footing for energy independence with Trump.

The shale oil fields of NoDak shriveled up and died under trump. How is that energy independence? Fracking too. 

Edited October 23, 20213 yr by ActionfigureJoe

2 hours ago, Skidooski said:

He's such a kook...right   

 

 

Nope...he’s not a kook at all...shame he was labeled that way but they had to smear him somehow.