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Replies: 32
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Heisman Winner [119695]
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Let’s go Brandon!
Oct 18, 2021, 11:31 AM
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$3.09…..
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CU Guru [1315]
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Re: Let’s go Brandon!
Oct 18, 2021, 11:34 AM
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Hey, you can't fix Brain Dead!
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Head Coach [790]
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Re: Let’s go Brandon!
Oct 18, 2021, 11:35 AM
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#ImpeachBiden
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All-TigerNet [13104]
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Re: Let’s go Brandon!
Oct 18, 2021, 11:37 AM
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Lots of liberals in the northeast are going to whining when their heating bills start coming this year.
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Heisman Winner [137901]
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Oh, you mean Keystone XL?
Oct 18, 2021, 11:40 AM
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The pipeline that would be completed in a little over a decade? And you're arguing that THAT has an impact on short term oil prices?
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Hall of Famer [21566]
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Don't expect them to use logic.***
Oct 18, 2021, 11:43 AM
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Heisman Winner [119695]
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No, the entire Dem policy re/ Energy
Oct 18, 2021, 11:48 AM
[ in reply to Oh, you mean Keystone XL? ] |
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there are many aspects to it, and Biden's kissing up to the leftists has definitely caused energy inflation.
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Orange Blooded [4016]
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Re: No, the entire Dem policy re/ Energy
Oct 18, 2021, 11:52 AM
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What exactly did Biden do to cause this rise in gas prices? Keep in mind that the price of gas is most directly related to the price of crude, and the price of crude is most directly related to how much oil OPEC decides they want to pump.
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Heisman Winner [137901]
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US energy "policy" simply does not affect short term oil
Oct 18, 2021, 11:53 AM
[ in reply to No, the entire Dem policy re/ Energy ] |
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prices, especially globally, unless it's something like a gas tax, which would be reflected pretty immediately at the pump. It's just not how any of this works. Global production was slashed when covid hit. Production facilities are struggling to catch up to demand worldwide. This isn't just a US problem. You think gas prices aren't high in Tokyo or Amsterdam or Moscow or Beijing?
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Hall of Famer [21934]
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I think it's a little disingenuous to say that this
Oct 18, 2021, 12:07 PM
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administration's push for ESG investment, coupled with the climate change fight rhetoric, has not impacted our oil production.
I agree with you that the demand fall out from Covid closures is also a significant factor.
But we (American Earl bros) can absolutely impact the price of oil globally. We have that capability now thanks to the fracking industry that blew the lid off this ##### back when Obama was president.
If the administration wanted to, they could easily incentivize (or maybe stop spooking investors here at the least) domestic producers and we'd see the price of oil back in the $60 range by Q2 - Q3 of 2022. In doing the opposite - we're basically at the mercy of Russia and OPEC.
We're backing ourselves into the same corner Europe is in right now. The difference is, at a high level, we have enough oil, coal and nat gas to tell the rest of the world to #### off (to a certain degree - I get there are certain crude mixes we need to import).
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Heisman Winner [119695]
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Rock Defender [53]
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Heisman Winner [137901]
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Did I ever claim that demand was higher than it was
Oct 18, 2021, 4:37 PM
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pre-covid? You just made that up. What I AM saying, and this is verifiable, is that supply (based on operational production capacity) is far lower than it was pre-covid. If demand is down 10%, but production is down 30%, what do you have?
This is fairly simple math. Or do you disagree with that?
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Rock Defender [53]
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Re: Did I ever claim that demand was higher than it was
Oct 18, 2021, 4:47 PM
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Heisman Winner [137901]
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So US Covid policy is impacting global oil
Oct 18, 2021, 4:53 PM
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production and pricing. Nothing sounds weird about that to you.
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Rock Defender [53]
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Re: So US Covid policy is impacting global oil
Oct 18, 2021, 5:07 PM
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Orange Blooded [4016]
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Re: So US Covid policy is impacting global oil
Oct 18, 2021, 8:28 PM
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Once again, I have to educate you. This is the price of oil the past 5 years. Gee, what do you think caused that one "rock bottom" moment in the price of oil. I'll wait while you either deflect for move the goalpost.
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Rock Defender [53]
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Re: So US Covid policy is impacting global oil
Oct 18, 2021, 9:02 PM
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Orange Blooded [4016]
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Re: So US Covid policy is impacting global oil
Oct 18, 2021, 10:11 PM
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Nice deflection from the chart I posted. How long did this downward trend in the article you posted last? Why was Trump unable to maintain it? I can't wait for this.
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Rock Defender [53]
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Re: So US Covid policy is impacting global oil
Oct 18, 2021, 10:37 PM
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Orange Blooded [4016]
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Re: So US Covid policy is impacting global oil
Oct 19, 2021, 7:06 AM
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What you posted was a desperate attempt to deflect from the fact that I destroyed your narrative that Trump had control of oil prices. My chart clearly shows that the price of oil fluctuates to factors independent of who occupies the White House. Prove me wrong.
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All-TigerNet [13104]
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Re: Oh, you mean Keystone XL?
Oct 18, 2021, 11:56 AM
[ in reply to Oh, you mean Keystone XL? ] |
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Your argument is simplistic and short sighted. Canceling XL (along with this administration’s actions against fossil fuel production) has given OPEC the ballz to squeeze us wherever they wish. If you don’t think those things are related, you’re ignorant.
They own us, with zero threat of increased domestic production for the foreseeable future. They set our prices, and liberals will tack on as many taxes as possible. To cool the climate? How stupid. How about stop having babies?
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Heisman Winner [137901]
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I'd recommend you do a bit of research on this.
Oct 18, 2021, 12:00 PM
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Keystone has, quite literally, ZERO to do with short term gas prices. Demand a decade from now is a complete unknown. Be smarter than this.
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All-TigerNet [13104]
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Re: I'd recommend you do a bit of research on this.
Oct 18, 2021, 12:12 PM
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Demand means little when one entity controls the supply.
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Orange Blooded [4016]
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Re: I'd recommend you do a bit of research on this.
Oct 18, 2021, 12:18 PM
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OPEC controls the price. They can pump way cheaper than we can frack.
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Hall of Famer [21934]
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Not to get in the middle of a good old fashioned mud slingin
Oct 18, 2021, 12:17 PM
[ in reply to I'd recommend you do a bit of research on this. ] |
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here
BUT...
The closure of the Keystone pipeline by this administration did impact the price of oil. Oil - WTI Futures - are traded here in Chicago. There's a massive oil deposit in Alberta Canada that's inaccessible to our refining horsepower now, unless we use a less economic and worse for the planet method of transportation (rail and/or truck) to get the oil down here.
It was a horrible policy decision that painted a bearish picture for domestic oil and gas industry here in North America. I'm of the opinion that I'd rather partner up w/ our lumberjack neighbors to the North than the camel riders in the desert.
Additionally - the measure taken by the administration was a shot across the bow to the oil industry, playing a significant part in the limitation of investor funds being distributed to domestic suppliers - primarily drilling outfits.
The policy is pro ESG, anti fossil fuels. That undoubtedly is playing a part here. And it's a shame, b/c we have a #### ton of GDP potential with our oil and gas industry that we're shutting down to play politics, IMO. Then you have the indirect impact in inflating energy costs that we're seeing now which will affect all industry verticals as well as us pleebs trying to put gas into our Camry's to go and sit in a cubicle.
Too much too soon.
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CU Medallion [73569]
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Orange Blooded [4016]
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All-In [40929]
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All-In [40929]
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gasoline prices are heavily
Oct 18, 2021, 12:01 PM
[ in reply to Oh, you mean Keystone XL? ] |
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Influenced by futures market. This is also the reason why energy sector equities are doing poorly compared to all other sectors
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Orange Blooded [4016]
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Re: gasoline prices are heavily
Oct 18, 2021, 12:03 PM
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10 years out? LOL.
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Heisman Winner [137901]
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They sure are. Hey, can you tell me the price of
Oct 18, 2021, 12:09 PM
[ in reply to gasoline prices are heavily ] |
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an crude oil future for 2032, and who is underwriting it?
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Hall of Famer [21934]
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Replies: 32
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