Platinum Contributing Member ViperGTS/Z1 Posted June 2, 2022 Platinum Contributing Member Share Posted June 2, 2022 Remains to be seen if we see some releif. https://www.yahoo.com/news/opec-announces-50-percent-increase-141748183.html Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 2, 2022 Share Posted June 2, 2022 1 hour ago, ViperGTS/Z1 said: Remains to be seen if we see some releif. https://www.yahoo.com/news/opec-announces-50-percent-increase-141748183.html The Arabs see an opportunity and they’ll stick it to Russia. There’s no doubt been some under the table dirty dealings with the Biden administration just like with trump. The saudis are detestable. Quote Link to comment Share on other sites More sharing options...
Anler Posted June 2, 2022 Share Posted June 2, 2022 (edited) They could have done that 2 months ago, they didnt. edit: 3 months ago Edited June 2, 2022 by Anler Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 2, 2022 Share Posted June 2, 2022 11 minutes ago, Anler said: They could have done that 2 months ago, they didnt. edit: 3 months ago So could we. Why are we giving money to the Middle East when we could be drilling our own. Know why? Because there is a fucking liberal democrat in the White House put there by a bunch of dumbfucks. Some of whom are on this forum. 2 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 2, 2022 Share Posted June 2, 2022 1 minute ago, racer254 said: So could we. Why are we giving money to the Middle East when we could be drilling our own. Know why? Because there is a fucking liberal democrat in the White House put there by a bunch of dumbfucks. Some of whom are on this forum. We are drilling our own at a break neck pace. Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 2, 2022 Share Posted June 2, 2022 The drilling count may have risen by 60% over the past year, but U.S. oil production is only up by about 8%. Thus, the conclusion is that U.S oil companies aren’t drilling. As the chart shows, they certainly are, but it takes time for that drilling to produce results. At the same time, depletion of existing wells is also a factor working against the attempts to increase production. The second element is one that has the kernel of truth. The rig count is steadily rising, but it is still significantly below the drilling levels prior to the Covid-19 pandemic. A three-year look at drilling activity shows the dramatic impact of the pandemic, as well as the steady recovery since the rig count began to climb in the fall of 2020. 2 Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 2, 2022 Share Posted June 2, 2022 8 minutes ago, f7ben said: We are drilling our own at a break neck pace. As you can see by the chart we were drilling more under trump and we also had lower fuel prices. Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 2, 2022 Share Posted June 2, 2022 And this is why you can blame it on the current dumb fuck democrats The Department of Interior announced in the early hours of Easter weekend the administration will be resuming oil and gas leases on federal lands after a federal judge ordered their resumption last summer. President Joe Biden suspended new federal oil and gas leases on public lands on his first day in office, actively suppressing production since his inauguration. Roughly 144,000 acres will be auctioned off for drilling, an 80 percent drop from what was under evaluation, according to a department press release. The agency will also spike royalty rates 50 percent, from 12.5 percent to 18.75 percent of the extracted product’s value, rising prices for domestic production at a time Americans face the record bills at the pump. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted June 2, 2022 Share Posted June 2, 2022 15 minutes ago, racer254 said: So could we. Why are we giving money to the Middle East when we could be drilling our own. Know why? Because there is a fucking liberal democrat in the White House put there by a bunch of dumbfucks. Some of whom are on this forum. Hey dummy, we are drilling our own. everything is shipping to Europe because its worth more there. Quote Link to comment Share on other sites More sharing options...
Matt Posted June 2, 2022 Share Posted June 2, 2022 The lack of domestic production is largely due to inability to get workers and inability to get supplies. Many workers and suppliers have moved on from oil given the blatant hostilities towards it from the Biden admin. A friendlier administration towards the fossil fuel industry over the last 18 months would certainly have helped some, but whether or not it'd be enough... who knows? Quote Link to comment Share on other sites More sharing options...
Anler Posted June 2, 2022 Share Posted June 2, 2022 5 minutes ago, racer254 said: As you can see by the chart we were drilling more under trump and we also had lower fuel prices. You know that those low Trump gas prices bankrupted over 100 US oil companies right? Quote Link to comment Share on other sites More sharing options...
Anler Posted June 2, 2022 Share Posted June 2, 2022 5 minutes ago, Matt said: The lack of domestic production is largely due to inability to get workers and inability to get supplies. Many workers and suppliers have moved on from oil given the blatant hostilities towards it from the Biden admin. A friendlier administration towards the fossil fuel industry over the last 18 months would certainly have helped some, but whether or not it'd be enough... who knows? I think that is bullshit. The oil companies cut alot of people during Covid due to less production but those are good jobs, guys will go back there. WTF else are those roughnecks gonna do? The Biden administration is full of shit. One minute they talk about moving away from fossil fuels and the next minute they are cutting deals with countries they have been hostile to. Not to mention a Biden (and relatives of other US aristocrats) sit on boards of oil and energy companies. The reality is those companies are making a killing right now with these prices, they dont want to change shit. In the meantime they can blame it on Biden just like Biden blames it on Putin. Bottom line is we are being robbed. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 2, 2022 Share Posted June 2, 2022 29 minutes ago, racer254 said: As you can see by the chart we were drilling more under trump and we also had lower fuel prices. Yah....we had Trumps covid recession where oil prices went negative. Remember that? Quote Link to comment Share on other sites More sharing options...
Anler Posted June 2, 2022 Share Posted June 2, 2022 7 minutes ago, f7ben said: Yah....we had Trumps covid recession where oil prices went negative. Remember that? Actually we can thank Putin for those low prices! Probably the real reason why he needs to be stopped. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 2, 2022 Share Posted June 2, 2022 2 minutes ago, Anler said: Actually we can thank Putin for those low prices! Probably the real reason why he needs to be stopped. I know Quote Link to comment Share on other sites More sharing options...
SkisNH Posted June 2, 2022 Share Posted June 2, 2022 22 minutes ago, f7ben said: Yah....we had Trumps covid recession where oil prices went negative. Remember that? That wasn't until the end if his term..look at domestic production under Trump Quote Link to comment Share on other sites More sharing options...
Matt Posted June 2, 2022 Share Posted June 2, 2022 45 minutes ago, Anler said: I think that is bullshit. The oil companies cut alot of people during Covid due to less production but those are good jobs, guys will go back there. WTF else are those roughnecks gonna do? The Biden administration is full of shit. One minute they talk about moving away from fossil fuels and the next minute they are cutting deals with countries they have been hostile to. Not to mention a Biden (and relatives of other US aristocrats) sit on boards of oil and energy companies. The reality is those companies are making a killing right now with these prices, they dont want to change shit. In the meantime they can blame it on Biden just like Biden blames it on Putin. Bottom line is we are being robbed. we are for sure being robbed... If the US govt was smart with subsidies, they'd subsidize domestic production the way they subsidize farmers. Gotta do something to put the screws to OPEC yet not bankrupt domestic producers. I'd much rather see that happen than sending billions overseas. Quote Link to comment Share on other sites More sharing options...
Anler Posted June 2, 2022 Share Posted June 2, 2022 17 minutes ago, Matt said: we are for sure being robbed... If the US govt was smart with subsidies, they'd subsidize domestic production the way they subsidize farmers. Gotta do something to put the screws to OPEC yet not bankrupt domestic producers. I'd much rather see that happen than sending billions overseas. The US govt doesnt work for us, everyone needs to realize that. They work for the people who are fucking us 1 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 2, 2022 Share Posted June 2, 2022 33 minutes ago, SkisNH said: That wasn't until the end if his term..look at domestic production under Trump Yes...the economy was being supercharged with reckless abandon. It’s only natural energy consumption would be up while the govt was spending historic amounts of money coupled with the fed printing money and slashing rates. 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 2, 2022 Share Posted June 2, 2022 Just now, Anler said: The US govt doesnt work for us, everyone needs to realize that. They work for the people who are fucking us You are banging your head on a brick wall Quote Link to comment Share on other sites More sharing options...
Anler Posted June 2, 2022 Share Posted June 2, 2022 Just now, f7ben said: You are banging your head on a brick wall I know. What I meant to say is... The dEmOcRaTs ArE fUcKiNg Us! Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 2, 2022 Share Posted June 2, 2022 1 hour ago, Matt said: The lack of domestic production is largely due to inability to get workers and inability to get supplies. Many workers and suppliers have moved on from oil given the blatant hostilities towards it from the Biden admin. A friendlier administration towards the fossil fuel industry over the last 18 months would certainly have helped some, but whether or not it'd be enough... who knows? It’s also a lack of capital. The boom bust cycle of oil pricing pretty much fucked the idea of throwing more money out there by large investors. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 2, 2022 Share Posted June 2, 2022 1 minute ago, spin_dry said: It’s also a lack of capital. The boom bust cycle of oil pricing pretty much fucked the idea of throwing more money out there by large investors. It’s the boom bust cycle of the entire financial system under US central banks. Quote Link to comment Share on other sites More sharing options...
Snake Posted June 2, 2022 Share Posted June 2, 2022 You experts just got done talking your COVID shingles down and BOOM! Oil and gas experts at your service.... At least I don't pretend to know... Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 2, 2022 Share Posted June 2, 2022 1 minute ago, Snake said: You experts just got done talking your COVID shingles down and BOOM! Oil and gas experts at your service.... At least I don't pretend to know... Oh , you’ve pretended to know plenty. Quote Link to comment Share on other sites More sharing options...
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