Shipping Tractors

[IndyJay]

I know, I was being facetious.
I get angry about the KXL pipeline being cancelled. I also know trains are the big guys favorite toy.

Follow the money...

 

[Bobrown14]

Without getting political on this matter, I'm curious how you can state some of this. You sound like you are on the "9,000 leases not used" side - this has been debunked numerous times. For the leases to be profitable two things have to happen. First, the oil companies HAVE to be able to run pipelines to actually use the oil - e.g., having a well that you can't get to is very hard to process from. Second, consider this, if you were about to drop a half to a million bucks on a well that may, or may not produce oil wouldn't you want some assurances from the current government that you wouldn't have to spend more in environmental bs in the "new" regulations than the oil is worth? There are many wells out there that, because of his new regulations, would cost more than what they would get from the oil.

Your argument falls flat when gas prices are +$4/gal.

Look at the number of leases Biden handed out compared to lease numbers handed out by the Trumps.

Its not about oil pipelines or about clean water its about the economics.

You arent going to plant your corn field unless the federal government guarantees you get a good price and if your crop fails you get your money anyway thru crop insurance given to you by the government.

You want to give oil companies the same deal as farmers?

News just in:
US oil companies got 20 BILLION DOLLARS subsidy from the government for drilling.


No fuel - no food - no profit - no food, the only loser is mother nature.

Here's the reason for the subsidies:

USA oil consumption PER DAY = 8.05 million barrels per day. (2020 number)

This is not sustainable in many ways. The answer is not more drilling. It might have been when the earth was flat.

 

[Bobrown14]

No argument with those facts. They are simply a matter of recovering from 2020. Production is nowhere near where it could or should be and it is a fact that it is due to policies enacted since 2021. Like you said, we are not entitled to our own facts. Once you resign yourself to this fact, you can make a reasoned opinion about what should happen next.

Oil on the futures market in 2020 due to Covid-19 pandemic was NEGATIVE meaning they couldn't give it away why on earth would any company want to spend money to drill for oil.

Here's your facts and numbers:

"On April 20, 2020, the front-month May 2020 WTI crude contract dropped 306%, or $55.90, for the session, to settle at negative $37.63 a barrel on the New York Mercantile Exchange"

3 reasons for oil prices:
supply
demand
speculation

When oil goes negative that means there's no reason to drill for any more oil.
Lower production = less supply
Less demand = lower prices

Lower production to get more in-line with demand so oil companies can make more $$.

Speculators can hedge their bets in the futures market. Someone is always making money, some smart people play both sides ... just in case.

The only direct political aspect of this mess is from our government is TAXES.
Taxes on gas haven't been raised since 1993. So no president has anything to do with fuel prices - they wont touch that with a 10' pole. Higher prices blamed on a politician is a death nel to their re-election.

 

[jyoutz]

No argument with those facts. They are simply a matter of recovering from 2020. Production is nowhere near where it could or should be and it is a fact that it is due to policies enacted since 2021. Like you said, we are not entitled to our own facts. Once you resign yourself to this fact, you can make a reasoned opinion about what should happen next.

If you are willing to read the link that I posted earlier today, you can become informed on what financial analysts who focus on the petroleum industry are saying about the cause of fuel costs. I respect this type of information and would be foolish to think that I understand the situation better than someone who does this as their profession. Or should I naively believe that members of Congress don’t politically spin every issue?

 

[Username Taken]

If you are willing to read the link that I posted earlier today, you can become informed on what financial analysts who focus on the petroleum industry are saying about the cause of fuel costs. I respect this type of information and would be foolish to think that I understand the situation better than someone who does this as their profession. Or should I naively believe that members of Congress don’t politically spin every issue?

Are these the same financial geniuses that said there was no risk of inflation for the last year?

Or is that Vlad's fault, too?

And when you have THE most powerful position in the Country filled by a person that swore to stop the fossil fuel industry dead in its tracks.....

 

[Torvy]

If you are willing to read the link that I posted earlier today, you can become informed on what financial analysts who focus on the petroleum industry are saying about the cause of fuel costs. I respect this type of information and would be foolish to think that I understand the situation better than someone who does this as their profession. Or should I naively believe that members of Congress don’t politically spin every issue?

Hahahaha....Hahaha ha.... you quoted an AP article that quotes an analyst from Gas Buddy. Don't get me wrong, I love gas buddy, but if you are looking for actual analysis, you don't go there. AP was digging pretty deep to find someone who would spin their narrative without pointing out the logical flaws. Production is only Up, if you compare to 2020 after the shutdowns. Just data, no spin...

U.S. Crude Oil Production - Historical Chart

Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels produced per day.

www.macrotrends.net

 

[OzarkChris]

Your argument falls flat when gas prices are +$4/gal.

Look at the number of leases Biden handed out compared to lease numbers handed out by the Trumps.

Its not about oil pipelines or about clean water its about the economics.

You arent going to plant your corn field unless the federal government guarantees you get a good price and if your crop fails you get your money anyway thru crop insurance given to you by the government.

You want to give oil companies the same deal as farmers?

News just in:
US oil companies got 20 BILLION DOLLARS subsidy from the government for drilling.


No fuel - no food - no profit - no food, the only loser is mother nature.

Here's the reason for the subsidies:

USA oil consumption PER DAY = 8.05 million barrels per day. (2020 number)

This is not sustainable in many ways. The answer is not more drilling. It might have been when the earth was flat.

Would you be able to explain how drilling here is better or worse than getting oil from Nicaragua, Iran, or any other number of American hating countries - doesnt that tend to monetarily "reward" nations that hate us, and take money out of our own pockets?

Does Mother Nature benefit from "someone else" drilling? If memory serves, isn't OPEC, Iranian and Russian oil more toxic to mother earth e.g., dirtier to refine?

Is it really better to have to import (from China) the minerals in solar panels that are "only" found in China - Doesn't this cause us (The USA) to be dependant on yet another communist country - that would love to conquer us - for sustainable energy?

What about the processing toxicity of making solar panels, is it only okay to poison Mother Earth if it is for green energy?

From most (if not all credible) analysts, we have at least 100 years worth of petroleum, for not just us but for our allies as well, beneath USA ground. Wouldn't it be better to work on a better solution during this time, rather than make these absurd statements like "The world will end in X years if we don't" (name your folly). I've heard this crap since the 60's and "X years" has typically been in the single digits, or to a much lesser extent less than 50 years.

Again, I'm not trying to be political, just stating my own life experiences.

 

[jyoutz]

Hahahaha....Hahaha ha.... you quoted an AP article that quotes an analyst from Gas Buddy. Don't get me wrong, I love gas buddy, but if you are looking for actual analysis, you don't go there. AP was digging pretty deep to find someone who would spin their narrative without pointing out the logical flaws. Production is only Up, if you compare to 2020 after the shutdowns. Just data, no spin...

U.S. Crude Oil Production - Historical Chart

Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels produced per day.

www.macrotrends.net

My point all along is the same. There is no shortage of places available for oil drilling in the US. High costs are related to inflation, labor, and other financial issues. 80% of land acres that are in areas with known reserves are on private lands. The only areas of significant federal lands with oil production potential that aren’t already leased are in Alaska and marine locations. Your state has almost zero acres of federal land in west Texas where most of the oil is, and damn few acres elsewhere. Companies are free to lease lands from agreeable landowners and apply for clean water permits from your state. From the looks of my many visits to your state, pipelines are everywhere and construction continues. Drilling isn’t the current reason for high prices.

 

[Root Cause]

It has been accurately said that low supply and high demand are the cause of inflation.
But one has to dig more to find out why.
For those who believe that it is Big Oil and their shareholders holding back, I would challenge you to read this.


I blue board member just shot down his own parties' nomination for the Fed. Reserve board and now refuses to vote on another nominee. The reasoning was in regards to gas and oil. Read it yourself. I suspect he forgot more then we collectively know about it. Again, it is about policies not politics that is being discussed as the players in this article are all blue.

https://www.dailywire.com/news/joe-manchin-sinks-bidens-anti-fossil-fuel-fed-nominee

Quote:
The West Virginia Democrat went one step further, withholding the nomination of an Interior Department nominee until the Biden administration committed to more oil and gas drilling. Manchin has also blasted the Biden administration and several officials publicly for not doing enough to stimulate oil and gas development.

 

[Hay Dude]

Importing oil is more polluting than drilling at home because it requires ships to bring it here, and they pollute the atmosphere.
I wont mention the other impacts, like less jobs for Americans, for example.