1jkw Posted August 4, 2022 Share Posted August 4, 2022 2 hours ago, Highmark said: Supplies have not increased much after the recovery was in place. https://www.mckinsey.com/industries/oil-and-gas/our-insights/petroleum-blog/snapshot-of-global-oil-supply-and-demand OPEC 10 production (excl. Iran, Venezuela, Libya). OPEC 10 production increased slightly to 29.9 MMb/d, an increase of 0.3 MMb/d over the previous month. Overall, OPEC 10 output is up by 2.7 MMb/d y-o-y, however, it is still down by 0.4 MMb/d compared to January 2020 Non-OPEC production (excl. US shale). Non-OPEC production increased by 0.3 MMb/d m-o-m in June to 57.3 MMb/d. With this increase, non-OPEC production is up by 1.3 MMb/d y-o-y. Russian supply has also almost fully recovered as of June US shale oil production. US shale oil production continued to rise slightly in June, reaching almost 8.8 MMb/d. Although US shale output is up by 0.7 MMb/d y-o-y, it is still below pre-pandemic levels of 9.3 MMb/d. Saying that, a continued m-o-m increase in the number of actively-drilling onshore rigs indicates an ongoing rise in activity I had just read that the US just exported record amount of crude and the US is now the leading producer of LNG, I also stated that Biden pissed of SA thereby OPEC, I was only referring to the US, shale is slowly making a comeback after the pandemic. Quote Link to comment Share on other sites More sharing options...
1jkw Posted August 4, 2022 Share Posted August 4, 2022 Reg. is $4.42 and diesel is $5.45, fuck that. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted August 4, 2022 Share Posted August 4, 2022 12 minutes ago, 1jkw said: Reg. is $4.42 and diesel is $5.45, fuck that. Diesel is $4.79 down at the marina right now, down from $7.29 in June. Still too high. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted August 4, 2022 Share Posted August 4, 2022 51 minutes ago, 1jkw said: I had just read that the US just exported record amount of crude and the US is now the leading producer of LNG, I also stated that Biden pissed of SA thereby OPEC, I was only referring to the US, shale is slowly making a comeback after the pandemic. Europe is a better market, thats where its going. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted August 4, 2022 Share Posted August 4, 2022 1 minute ago, Anler said: Europe is a better market, thats where its going. So much for energy independence and protecting american consumers. Quote Link to comment Share on other sites More sharing options...
Anler Posted August 4, 2022 Share Posted August 4, 2022 Just now, DriftBusta said: So much for energy independence and protecting american consumers. Well Mr. excitement (Ben)has always maintained that we already produce enough oil here. The US is the largest oil producer in the world. Taking other oil producers (Russia, Venezuela, Iran, Libya, Syria)off the market caused the commodity price to go up. These bullshit wars are not about what we are being told and its costing everybody while benefiting a few. 2 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 4, 2022 Share Posted August 4, 2022 2 hours ago, racer254 said: Well, Why not just shut the country down, like we did at the start of the pandemic? COVID is just as bad, so why not do that? Is you entire life spent thinking in black and white absolutes. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 4, 2022 Share Posted August 4, 2022 19 minutes ago, Anler said: Europe is a better market, thats where its going. Those that think all American produced oil needs to stay here in the states fail to understand that if that happens the petro dollar goes away. That will lead to a rather interesting chain of events. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 4, 2022 Author Share Posted August 4, 2022 18 minutes ago, DriftBusta said: So much for energy independence and protecting american consumers. Until the US taxpayer wants to invest in a fed oil company American oil will go on the world market. Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 4, 2022 Share Posted August 4, 2022 9 minutes ago, spin_dry said: Is you entire life spent thinking in black and white absolutes. Nope, I am pro-choice but i am not pro-abortion. Quote Link to comment Share on other sites More sharing options...
1jkw Posted August 4, 2022 Share Posted August 4, 2022 1 hour ago, DriftBusta said: Diesel is $4.79 down at the marina right now, down from $7.29 in June. Still too high. I'm surprised it isn't more at the marina, the lakes around here charge sometimes twice what it is at a gas station. Quote Link to comment Share on other sites More sharing options...
1jkw Posted August 4, 2022 Share Posted August 4, 2022 1 hour ago, Anler said: Europe is a better market, thats where its going. Yep sold on the open market to the highest bidder, same as it ever was. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted August 4, 2022 Platinum Contributing Member Share Posted August 4, 2022 Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 4, 2022 Share Posted August 4, 2022 Same as it ever was, OR NOT. Keep believing what the swamp tells you. https://money.cnn.com/2016/01/29/investing/us-oil-exports-begin/index.html The U.S. is poised to lift a 40-year ban on exporting oil. Lawmakers are close to authorizing oil exports as part of a broader $1.1 trillion spending and tax bill working its way through Congress. Sources told CNN the compromise measure, which is needed to avert a government shutdown, includes a provision that would roll back the export restriction. The oil export ban was signed into law in 1975, part of the reaction to an OPEC embargo that created a shortage of crude and slammed the American economy with skyrocketing prices. Quote Link to comment Share on other sites More sharing options...
1jkw Posted August 4, 2022 Share Posted August 4, 2022 Remember all the bragging about US oil independence because we were exporting more than we were importing. Who was that? Cool that CNN is your go to source. Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 4, 2022 Share Posted August 4, 2022 (edited) 23 minutes ago, 1jkw said: Remember all the bragging about US oil independence because we were exporting more than we were importing. Who was that? Cool that CNN is your go to source. Want more? All you have to do is search the internet. Why would someone write a story or say that this has been happening for all time, if it wasn't actually true? https://ballotpedia.org/Crude_oil_export_ban Edited August 4, 2022 by racer254 Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 4, 2022 Share Posted August 4, 2022 Remember when they wanted to blame trump for oil companies going bankrupt? The ban on exports was lifted in 2015. Right before trump won the 2016 election. Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 4, 2022 Share Posted August 4, 2022 (edited) 3 hours ago, spin_dry said: Those that think all American produced oil needs to stay here in the states fail to understand that if that happens the petro dollar goes away. That will lead to a rather interesting chain of events. Oh sure, before 2015 we were all in chaos. Why do all your posts contain deception and lies? The ban on exports was lifted in 2015. Edited August 4, 2022 by racer254 Quote Link to comment Share on other sites More sharing options...
joe_zrt Posted August 4, 2022 Share Posted August 4, 2022 It's predicted to raise back up in the fall...hhhhmmmmm Quote Link to comment Share on other sites More sharing options...
1jkw Posted August 4, 2022 Share Posted August 4, 2022 (edited) 4 hours ago, racer254 said: Same as it ever was, OR NOT. Keep believing what the swamp tells you. https://money.cnn.com/2016/01/29/investing/us-oil-exports-begin/index.html The U.S. is poised to lift a 40-year ban on exporting oil. Lawmakers are close to authorizing oil exports as part of a broader $1.1 trillion spending and tax bill working its way through Congress. Sources told CNN the compromise measure, which is needed to avert a government shutdown, includes a provision that would roll back the export restriction. The oil export ban was signed into law in 1975, part of the reaction to an OPEC embargo that created a shortage of crude and slammed the American economy with skyrocketing prices. So according to the EIA the US was exporting oil for decades prior to the ban being lifted, exports rose significantly after 2016 though. Edited August 4, 2022 by 1jkw Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 5, 2022 Share Posted August 5, 2022 11 hours ago, 1jkw said: So according to the EIA the US was exporting oil for decades prior to the ban being lifted, exports rose significantly after 2016 though. There was a ban on oil exports from 75 to 2015 and I provided factual information to substantiate this. Do you have a link or something to substantiate this claim? Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 5, 2022 Share Posted August 5, 2022 (edited) The media and the people pulling the strings really like to run the narratives. First repeal the oil export ban in 2015. Trump gets elected in 2016. Blame trump for everything related to negative effects of removing the ban, without saying anything about the ban. When people question why a democrat is selling out the US Consumer, Convince the people that we have been exporting oil forever BTW, never mentioning a thing about repealing the ban on exporting oil......JUST SIMPLY AMAZING. Edited August 5, 2022 by racer254 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 5, 2022 Author Share Posted August 5, 2022 Oil dropped some more Quote Link to comment Share on other sites More sharing options...
1jkw Posted August 5, 2022 Share Posted August 5, 2022 1 hour ago, racer254 said: There was a ban on oil exports from 75 to 2015 and I provided factual information to substantiate this. Do you have a link or something to substantiate this claim? Google it just like I did. EIA has charts that go back decades, you will see that after the ban was lifted exports went up dramatically but the US never stopped exporting crude. Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 5, 2022 Share Posted August 5, 2022 (edited) 26 minutes ago, 1jkw said: Google it just like I did. EIA has charts that go back decades, you will see that after the ban was lifted exports went up dramatically but the US never stopped exporting crude. There was a BAN on exporting oil etc from 1975 to 2015. So anyone constantly acting as though exporting oil now vs the 40 years during that time is just plain lying about it. All anyone has to do is look up the Energy Policy and Conservation act of 1975. https://en.wikipedia.org/wiki/Energy_Policy_and_Conservation_Act Edited August 5, 2022 by racer254 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.