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Oil prices fall as industry data shows big build in U.S. inventory


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American oil production coming back online after it was destroyed last year 

 

In a sign high prices are encouraging more supply, BP said on Tuesday it would ramp up investments in onshore U.S. shale oil and gas to $1.5 billion in 2022 from $1 billion this year. Overall, U.S. output increased to 11.5 million barrels per day, equaling the highest level of U.S. production so far this year.

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14 minutes ago, Mag6240 said:

Oh golly gee - imagine a company increasing production on an expensive oil producing process after the price of oil goes up - SHOCKING!!

That’s what’s required for the energy independence that trump touted. But you know this of course. 

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5 minutes ago, spin_dry said:

That’s what’s required for the energy independence that trump touted. But you know this of course. 

Just stop with the lies would ya.  2020 was a travesty, but you ignored 2016, when more oil companies went belly up.  The only thing this did was allow the HUGE oil companies to get rid of or buy out the little guys.  But you know this of course.  LOL. 

Edited by racer254
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26 minutes ago, Mainecat said:

They should get a huge tax refund.

Do you know who makes the lions share on gasoline? first hint it isnt the company that produces it, they would be lucky to make 4-5 cents per gallon. The federal govt whom does nothing earns 18.3 cents per gallon. The states are anywhere from 16 cents to over 40cents.

Next time you complain about gas prices look at your govt for relief. 

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54 minutes ago, racer254 said:

Just stop with the lies would ya.  2020 was a travesty, but you ignored 2016, when more oil companies went belly up.  The only thing this did was allow the HUGE oil companies to get rid of or buy out the little guys.  But you know this of course.  LOL. 

Wrong 

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Gas prices also effect most other items you buy. Surely st your age and wisdom levels you may of heard if this.

But yeh, if you can afford it you should just accept and keep quiet ? 
 

lolololol

#clownworld

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19 hours ago, Rigid1 said:

Prolly get about 135-140 gallons this weekend, thanks for not putting a financial strain on the middle class Brandon

Just my mobil card ( we also use shell and have an in house charge at a local station ) was $1000 for October.

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3 hours ago, steve from amherst said:

Just my mobil card ( we also use shell and have an in house charge at a local station ) was $1000 for October.

We spent $728 in October on fuel.  That included a couple ATV trips.  Gonna be an expensive winter.

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