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Tell me why, tell me why...
General Boards - Politics
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Replies: 30  

Tell me why, tell me why...

[2]
Mar 8, 2022, 8:12 AM
Reply

Unfortunately I did not graduate from the University of Delaware or near the bottom of Syracuse University Law School or any other law school, so I'm having a hard time grasping why we are asking Venezuela and Iran for their oil and begging the Saudis for more oil.

Why are we not expediting the process to ramp up domestic oil production and there appear to be no plans to do so?

Why are we still importing Russian oil? When bipartisan pressure eventually forces this move, what will be the explanation for why this was not a good idea earlier, but now is?

How is burning Iranian, Venezuelan or Saudi oil better for the planet than our own? Do those countries extract their oil with higher environmental safeguards than the US?

Venezuela is run by an oppressive dictator Maduro. He is currently propped up by the Russians. Many Venezuelans are fleeing to the US. So by purchasing more oil from Venezuela, this strengthens Maduro which lessens the Russian financial commitment to him and probably leads to more Venezuelans coming here.How does this strengthen our borders?

Seriously, we need Iranian oil? Is Death to Israel and Death to America just a catchy chant? Are we sold on the idea of a green Iran powered by peaceful nuclear power plants? Is this just a clever ploy to lower the cost of pistachios?

Have the Saudis opened up a gender studies program in Riyadh and funded a huge modern hospital offering citizens of the world sex reassignment surgery? The pace of liberalization in Saudi Arabia is truly stunning and young goats are grateful.

Ok seriously, why is it a good idea to continue buying Russian oil and pursue it from Iran, Venezuela and increase the flow from Saudi Arabia? Is Joe misinterpreting "Don't mess with Texas."

2022 orange level member flag link

Aint nothin but a heartache.***

[3]
Mar 8, 2022, 8:16 AM
Reply



2022 orange level memberbadge-donor-15yr.jpgringofhonor-obed.jpg flag link


Ha, I thought the same thing from the headline***

[1]
Mar 8, 2022, 8:18 AM
Reply



badge-donor-05yr.jpg2005_majors_champ.jpgbadge-ringofhonor-xtiger.jpg flag link


Re: Ha, I thought the same thing from the headline***

[1]
Mar 8, 2022, 8:22 AM
Reply

Neil Young>>>Backstreet Boys.

2022 orange level member flag link

You Lie!!!! - Fbcoach***


Mar 8, 2022, 8:18 AM
Reply



badge-donor-05yr.jpg2005_majors_champ.jpgbadge-ringofhonor-xtiger.jpg flag link


Russia makes up like 8% of our petroleum imports

[2]
Mar 8, 2022, 8:28 AM
Reply

We can easily offset that domestically. There's more to the price of oil than just the US. It's a big world out there, and a global market, with oil. If the west cuts off Russian oil imports, Russia will stop drilling for it (won't be profitable). Half their oil exports go to Europe, if that stops, their oil industry collapses. If Russia stops drilling for it, then other countries will need to pick up the slack to supply the global oil market. That would be Saudi Arabia, THE US, Venezuela, and Iran, among others. If the west cuts off Russian oil imports, there will be a worldwide oil crisis, UNLESS everyone else gets on board to pick up the slack. Coupled with other sanctions crippling the Russian economy anyway, the world has to be prepared to keep the markets flowing with a consistent amount of oil.

He's trying to ward off MORE inflation. Think of it that way.

2022 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link

Tough times create strong men.
Strong men create easy times.
Easy times create weak men.
Weak men create tough times.


So what your saying is

[2]
Mar 8, 2022, 8:32 AM
Reply

If we hadn’t already put ourselves in a weakened position- we would be strong enough to carry out our foreign policy initiatives. But we screwed the pooch and now have to choose between our economy and Russia’s.

2022 orange level memberbadge-donor-10yr.jpg flag link

ESG man

[1]
Mar 8, 2022, 11:36 AM
Reply

c'mon...get with the program! fossil fuels kill people!

larry fink said investing in fossil fuels bad! batteries good!

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The 'Blackstone Boys'...***


Mar 8, 2022, 11:52 AM
Reply



2022 purple level memberbadge-donor-10yr.jpg flag link


Re: Russia makes up like 8% of our petroleum imports

[2]
Mar 8, 2022, 8:49 AM
Reply

No. I get that and I suspect other oil producing countries will be more than glad to make up the shortfall including some bad actors. I just feel we need to do everything both short and long term to reduce our dependence on these bad actors.

BTW, WSJ just put out that an announcement is forthcoming today about banning Russian oil imports.

It's now a good idea.

2022 orange level member flag link

Re: Tell me why, tell me why...


Mar 8, 2022, 9:04 AM
Reply

JFC Ron, hyperbole much? I guess the "Ok, seriously" line at the end was an admission of that. I am also in favor of not taking any more Russian oil but our NATO allies are not likely in that same position as we are. We should do it anyway. This subject has been beaten to a pulp over the last few weeks and months. The answer is basic economics, i.e. global supply and demand. OPEC(incl. Saudis) likes high crude oil prices so they keep production as low as they can. Same for a lot of places, but maybe not so much for Russia because it makes up such a great % of their economy.

As for US Oil production, the answer is simple:

https://www.eia.gov/todayinenergy/detail.php?id=47056

This website will provide any answer you seek on drilling, import/export and almost anything pertaining to oil products. As can be seen from the link, the US production decline from the pandemic resulted from reduced drilling activity related to low oil prices in 2020. The price of crude dropped to $11/b in March/April 2020 and stayed around $40/b for the rest of that year and did not recover to pre-pandemic levels until mid 2021 or so. US oil companies are not going to start new drilling when the price is that low. You know, capitalism and all. We are pumping all we can from active wells, it will take awhile for the new production wells to come online IF THE OIL CO's ARE WILLING TO.

Biden asked for them to step up production, but I'm pretty sure they like the high prices of crude also. FREE US Corporations control production, not the current President(but as we have seen some are more friendly to the industry than others).

As I finish this, I now see that Biden has announced a BAN on Russian oil. GREAT, get ready to pay more at the pump. I'm willing cause #### Russia!

2022 orange level member flag link

One shoe has dropped...Russian imports are banned.

[1]
Mar 8, 2022, 9:07 AM
Reply

I definitely feel that whatever the administration can do to increased domestic production, they should do. I would say that even if we weren't having this current crisis, but it's even more important now.

I understand the fossil fuel issue. I believe consumption should be targeted more than production. As long as consumption is at a certain level, that consumption has to be met, whether through domestic production or imports. Might as well make it here if we can.

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Isn't that a better question for Exxon, Chevron, Conoco....

[4]
Mar 8, 2022, 9:11 AM
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and so on.

As stated in a previous thread...please point out to me how the federal government is currently...today...limiting US oil companies from expanding production.

badge-donor-05yr.jpg flag link

Here's one...

[1]
Mar 8, 2022, 9:53 AM
Reply

https://www.npr.org/2022/01/28/1076281662/federal-judge-canceled-gulf-oil-and-gas-leases-climate-change


Here's another:

www.epa.gov

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That's an example of the administration holding back....


Mar 8, 2022, 10:45 AM
Reply

production?

I read that as exactly the opposite. The federal judge canceled the lease that the Biden administration issued...right?

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Re: That's an example of the administration holding back....


Mar 8, 2022, 10:53 AM
Reply

He didn't bother to read his own link.

2022 orange level member flag link

He didn't bother to read his own post.


Mar 8, 2022, 11:18 AM
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I can't say I've ever seen people assume a Federal government worker is part of the "Administration."

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You said Federal Government, not administration.***


Mar 8, 2022, 11:03 AM
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You're correct, I did. I've posted on this topic...


Mar 8, 2022, 1:05 PM
Reply

numerous times this morning and normally have said Biden Administration. I used the general term government this go-around.

Do you think this specific court ruling alone is leading to current high prices?

badge-donor-05yr.jpg flag link

Re: Isn't that a better question for Exxon, Chevron, Conoco....

[1]
Mar 8, 2022, 10:21 AM
Reply

I am far from an expert on the oil industry. I admit that. US oil companies are global companies and I would suspect find it easier to do business elsewhere in the world than at home. I actually know that for a fact as I have family involved in energy law.

We have been told for decades that we would not see a drop of oil for 10 or more years if we had opened up ANWR to drilling. That 10 years has long passed. Had we opened up ANWR to drilling years ago, I suspect we would be using that oil and buying less from problematic nations.

I realize it's not as simplistic as my original post, but again do not think it's good policy to be hostage to nations that have far different goals than ours.


Message was edited by: rons1®


2022 orange level member flag link

Ok, but again...at the risk of repeating myself....


Mar 8, 2022, 10:53 AM
Reply

what is the current administration doing that is preventing oil companies from increasing output in the US?

Not claiming to be an expert either, but I've done a lot of reading on the subject over the years because I had the sense that the political rhetoric didn't match the real world.

From what I can tell, there is no shortage of federal land leases in place (not to mention state and private) and that there is no current action from the present administration that is limiting the oil companies from returning to pre-covid production levels.

I don't agree with the Biden admins stance on oil and coal and I think we run the risk of seeing impact from that in the future....but I can't see where anything they've done, or not done, is impacting oil production right now or even in terms of a 5-year confidence level.

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Re: Ok, but again...at the risk of repeating myself....


Mar 8, 2022, 11:33 AM
Reply

There isn't any evidence. The Keystone pipeline excuse is invalid because it's for importing foreign oil, not domestic production. And LOL at "federal land leases" as they only make up 10% of drilling operations,not to mention that there are close to 10,000 leases not being used.

2022 orange level member flag link

Re: Ok, but again...at the risk of repeating myself....


Mar 8, 2022, 12:01 PM
Reply

Whatever. The FACT is Trump had the USA energy independent after several years. This is FACT.

It is also a FACT that now we are not energy independent.

So, you can whine all day long that Biden didn't do it, but if a = b and b = c, then a = c.

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Re: Ok, but again...at the risk of repeating myself....


Mar 8, 2022, 12:04 PM
Reply

LOL .... swing and a miss .... again!

2022 orange level member flag link

You absolutely, 100% do not understand what "energy

[1]
Mar 8, 2022, 12:38 PM
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independent" means. I'd recommend not using that term again until you've spent at least a couple minutes researching it.

2022 purple level memberbadge-donor-15yr.jpgbadge-ringofhonor-19b.jpg flag link

You know we imported oil during Trump's entire...


Mar 8, 2022, 1:09 PM
Reply

term, right?

From Russia, OPEC, etc...

We were a net exporter...which is great and I think we should be producing MORE domestically...but we were not "energy independent".

badge-donor-05yr.jpg flag link

Canadian crude oil, for us to refine which sounds a little


Mar 8, 2022, 1:35 PM
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cheaper and friendlier than Russian oil at this juncture.

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Long-term we need to be focused on solar and/or nuclear

[1]
Mar 8, 2022, 11:22 AM
Reply

power, but nobody wants a nuclear reactor anywhere near their back yard so that's always met with a lot of backlash.

FWIW China has committed to building 150 new nuclear reactors over the next 15 years. Obviously nuclear power comes with some unique downsides, but it's also the most inexpensive and efficient form of electricity that can be produced on a large scale. Once China gets all of these nuclear plants online they will have a large advantage over the US in terms of energy costs which will make their factories more efficient.

2022 white level member flag link

What's more astonishing to me


Mar 8, 2022, 11:40 AM
Reply

is the significant amount of people on this board vehemently digging their heels in on the notion that this administration (not president) has implemented policies and, more critically, influenced the Street to limit the production of oil domestically.

I've asked before, maybe the Street has influenced them...not quite sure. But to downplay the rhetoric coming out of this administration in favor of the current situation we're in is ####### pathetic.

You can say this administration ###### up without being a January 6th insurrectionist.

Facts:
- We have the oil reserves to be self sufficient
- We have the technology to do it at scale
- We are not releasing adequate investment dollars to re-start wells to meet demand
- This administration is in favor of a lower fossil fuel output to promote partisan ########

I've said it before. A sound economy has two pillars:
- Sound money
- Sound energy

We currently have neither. So buckle the #### up, we going down.

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I might be in that count....

[1]
Mar 8, 2022, 1:21 PM
Reply

I don't agree with Biden's or the general democrat party outlook on Energy one bit.

And I've mentioned in previous posts today that the rhetoric at the start of Biden's admin didn't help.

With that said, to somehow blame US oil production not returning to pre-covid levels on White House rhetoric is a huge overstatement, IMO.

IMO, the paid caused by the rapid collapse of oil prices in 2020 and COVID still being "around" and having had a another spike in the last few months makes companies nervous for the investment needed for a return to 2019 levels. Also, there seems to be a real problem in the labor pool too, as there is in most industries right now. Oil companies had huge layoffs in 2021 as a result of the 2020 collapse and they simply can't recover the workforce right now.

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Re: I might be in that count....


Mar 8, 2022, 3:03 PM
Reply

Well put. Certainly COVID and the resulting decrease in demand for oil led to a crash in oil prices. This up until recently certainly was a huge factor in inhibiting domestic oil production.

However the rhetoric has had a chilling effect on domestic oil production. The regulatory environment in this country coupled with the legal hassles from environmentalists make extraction of oil or minerals a very difficult proposition.

This administration has signaled to the oil, gas and coal industries that there is a very limited future for these products. Zero carbon emissions by 2050 is not a stimulus for increased drilling and mining.

Certainly the current price of oil should be a stimulus for increased oil production at home.

However, I do believe the rhetoric has had an adverse effect and the process of gaining approval is incredibly expensive and painstakingly lengthy.

Attorneys trying to help energy concerns gain the necessary approval to drill or mine will continue to do very well in the current legal and regulatory environment.

US based multinational oil companies no doubt have a much easier task drilling abroad.

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