Midwest Gasoline to Spike $0.50-$1.00 Per gallon

[5030]

Didn’t the feds just close future oil/gas exploration in New Mexie-co

Sure did and I see you found yet another banned word as well... Lets not forget about Alaska either.

Seems to me that when you turn off the tap, the stuff that comes out of it gets more expensive. maybe that is the plan.

 

[WM75Guy]

Didn’t the feds just close future oil/gas exploration in New Mexie-co

Oil production on federal lands accounts for approximately 25% of the US production. The other 75% is on private and state lands, over which the feds have no control. Cancelling the leases that no oil company wanted to pay for, such as the recent cancellation of 7 leases in Alaska, is a way to appease some of the people that have no clue that the land was never going into production due to the cost. The recent cancellation in New Mexico was for 4200 acres in tribal areas that had archeological significance. That is a small percentage of land over the Permian Basin oil reserves.

 

[5030]

maybe that is the plan.

I'm starting to think that the plan is, if you cannot dazzle them with brilliance, baffle them with BS.

 

[jyoutz]

Personal observance of course. I quit buying into all the credible studies a long time ago. Today there are way too many 'talking heads' and not enough substantive facts and I'll leave it at that other than to say (again my opinion only) that most of the so called credible sources really don't know their butts from a hole in the ground anyway.

That’s your prerogative. But what I posted wasn’t a study. It was industry reporting their production.

 

[jyoutz]

Oil production on federal lands accounts for approximately 25% of the US production. The other 75% is on private and state lands, over which the feds have no control. Cancelling the leases that no oil company wanted to pay for, such as the recent cancellation of 7 leases in Alaska, is a way to appease some of the people that have no clue that the land was never going into production due to the cost. The recent cancellation in New Mexico was for 4200 acres in tribal areas that had archeological significance. That is a small percentage of land over the Permian Basin oil reserves.

Yes the Permian basin actually has very little federal lands. It’s mostly state and private lands. And Alaska north slope leases were canceled at the request of Chevron that decided development of oil fields in Alaska aren’t profitable. Operating costs are 5x the costs of development in the lower 48.

 

[Torvy]

Yes the Permian basin actually has very little federal lands. It’s mostly state and private lands. And Alaska north slope leases were cancer at the request of Chevron that decided development of oil fields in Alaska aren’t profitable. Operating costs are 5x the costs of development in the lower 48.

Operating costs weren't the real problem. It was the litigation cost of fighting people who know nothing about Alaska or oil who envision polar bears covered in crude.

Sometimes you have to understand corporate speak.

 

[BigBlue1]

I think it is funny you think cash’s value or use isn’t already controllable. They didn’t need to try and freeze any money during COVID, they just unlawfully shut businesses down.

Yes, they can do that. But that's much more broadly impactful than what I described (in terms of pi$$ing off folks and causing a rebellion). Controlling individuals selectively means those unaffected are usually not vested in pushing back (until it happens to them).

How’s the value of that $100 bill compared to 10 years ago?

Irrelevant to the topic of eliminating cash. $100 cash is same as $100 credit when you walk into Home Depot to buy something.

I haven’t visited an ATM in years, extremely rare for me to transact any business in cash. It is pretty worthless decorative fabric to me.

I'm thinking you'll get a lot more nostalgic for cash if/when it is eliminated. I'd hope you, and everyone, spend a little time pondering just what the ramifications on control there are when all transactions must go through centralization (credit card companies, banks, gov). Making that switch would probably eclipse even elimination of all guns as the most tyrant-friendly thing to occur. Just remember, someday someone you don't agree with will be in charge...

 

[BigBlue1]

Credit card companies do the things you described already. It's part of their fraud detection processing.

Yep. And some for non-fraud reasons. Such as declining to process firearms-related purchases or not doing business with types of businesses they don't agree with. I think that's awful and that's only some tiny fraction of all transactions being affected. To think of it being applied to 100% of transactions is... unthinkable.

 

[jyoutz]

Operating costs weren't the real problem. It was the litigation cost of fighting people who know nothing about Alaska or oil who envision polar bears covered in crude.

Sometimes you have to understand corporate speak.

Many of the people opposed are Alaska natives who know more about Alaska than anyone else. Operating costs are also a factor. Why develop an oil field in the arctic circle, when the Permian, Gulf coast, and Bakkan oil is multiples cheaper to produce and has infrastructure in place? Labor, supplies, transportation, and everything costs more on the north slope of Alaska. And companies are making both record production and profit in the lower 48; our states especially at #1 and #2.

 

[Hay Dude]

Excuses, excuses, excuses. We all know fuel could be 1/2 the price it is and it could also be abundant for 100’s more years until really effective, innovative, cheaper, better alternatives to ICE vehicles are developed. The G____ment is standing in the way of not only energy independence, but energy affordability.

Not building more modern refineries and making exploration a challenge is just 2 of many reasons we are not energy independent.

Forcing people to convert to the already overwhelmed electric grid is just stupid. It destroys the American automotive industry, strengthens our foes, and costs Americans trillions.

I’ve no problem giving up ICE vehicles for something better, but to give them up for EVs that force electric companies to burn more fossil fuels to produce more electricity is one definition of stupidity.