US Crude Oil production soon to set record out put.
- Thread starter old abe
- Start date
pclark
Well-known member
That is great news but Americans will still pay very high prices (maybe the highest we have seen) for all oil products while Brandon is in office. Gas has already gone up to $3.19 gallon for UNL REG and $3.74 for Premium this week in the MW/Minocqua area.
Our Oil Companies have to make money so they are exporting all of this fuel out of the US because our current Administration is so short sighted and wants to flip the green switch without any plan in place.
Our Oil Companies have to make money so they are exporting all of this fuel out of the US because our current Administration is so short sighted and wants to flip the green switch without any plan in place.
Whoa? Oil and NG are World Markets, priced as such, and will continue to be. No matter whoever likes it, or not. No Bull, just FACT. The Oil Co's are exporting because the big $$$$$ dictate that! However, blame it on Brandon if you like, but that's no more than just wishful thinking at best. Or, perhaps, you're in favor of putting "oil export volume limits" back on them? Take a look around the world, eh!
These are Annual Daily Averages of barrels per day production. Make into it whatever you like, eh. The market doesn't care about that one bit. And I'm not aware of any tracking numbers that relate to that?
pclark
Well-known member
Whoa? AlI I said was that we, consumers that were enjoying some of the best oil prices just a year ago are now paying what I said. I realize that oil is a world market, never said it was the oil companies fault. Is it just a coincidence that oil started going up when Joe Biden was elected and signed all of his executive actions denouncing fossil fuels? Do you think that gas and NG would be as high if Trump was still President? I know you will have an answer for me but there is such a thing as all parties coming to the table and working things out, I am all for sustainability, we own a company that makes PVC FREE, RED LIST FREE, 100% sustainable flooring.
You and I both know there is no good plan to make us fossil free by 2030, it can't be done in that short of a time. So gradually bring it on board so we don't put the American people in any more hardship that they are experiencing right now.
Perhaps pclark you take a good look at the "Supply, and Demand" numbers for those periods? The fact of this matter is this, Fantasy Land Wishful thinking will do nothing to get Oil producers, such as Opec+, or who ever, to produce more Oil. And is a very poor business model for sure. Increase the supply ratio, reduces demand, and that will lower the price. Thus, the more Oil available in the world, the lower the price wherever! Now this, the US production, "numbers setting new records", WILL absolutely get their attention. As those other Oil producers don't appreciate US Oil production taking "their" business, customers, eh! The numbers tell the story, and the fact that this "Energy Shortage", and these high prices, are all the result of the Crude Oil price, $$$, going negative, 2 years ago. Like it or not, there is no way around that being Fact! Causing the immeadiate shutting down, slamming shut, the Energy Industry, and so abruptily. They don't like losing $$$$! Every one of my advisory services warned me that this would happen, and as the result of such! This is what I pay, $$$, them for. In order me to be able to protect, hedge myself, as to stay in business. Energy is a Absolutely Big COST! However, Brandon, what ever, was not any part of it. Suit yourself, eh
pclark
Well-known member
Old Abe, the only thing I disagree with you on is the fact that we were Energy Independent as a country before Brandon came into office, something happened? Higher oil costs equal higher cost for all goods as I believe you know. Reasonable oil costs are a win win for everyone and keep inflation from running away like its doing right now. You seem like a reasonable guy, I am too, but we both have our own opinions as it should be.
Yeah, well, as to our being "Energy Independent", one needs to be very careful of "opinions". I've heard many that can only be considered to be disingenuous, and proven to be just that. However, as to our Energy "export" numbers, truely indicate we are better now than as to then. I always want the truth! This whether I like it or not. Just brought up that way with a strong father. So, whatever, I absolutely wish you the best of luck to you!
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Pclark - what happened when we were an energy dependent country? Covid happened. And the reaction to Covid is what is responsible for most of our economic condition right now today. Our economy is unbelievably complicated. The supply chain is or was a very fine tuned system. Combine that with the high expectations that we have all taken for granted for so long. You just can't slam the door one day on such a system and expect to have no consequences. And six or eight months later you can't just say business as usual and have everything snap back overnight. It really is a supply and demand thing. And it takes time to ramp up again after everything has been shut down.
We will have cheaper gas again. Energy is too big to not stabilize. However there are things that will probably never go back to where they were. Food prices are a good example of that. Pork and beef in particular.
I am totally and completely in your corner with regards to the current powers that be. But instead of dwelling on water under the bridge I am attempting to play the cards I have been dealt. It doesn't mean I wish I had better cards. But I don't.
Roll with it. Your blood pressure will go down and you will live longer. And get to ride your snowmobile.
We will have cheaper gas again. Energy is too big to not stabilize. However there are things that will probably never go back to where they were. Food prices are a good example of that. Pork and beef in particular.
I am totally and completely in your corner with regards to the current powers that be. But instead of dwelling on water under the bridge I am attempting to play the cards I have been dealt. It doesn't mean I wish I had better cards. But I don't.
Roll with it. Your blood pressure will go down and you will live longer. And get to ride your snowmobile.
pclark
Well-known member
Grub, you are very right on the COVID complicating things to a level that not one of us has ever seen. I do need to roll with it but it's hard to watch this in front of our eyes day after day. For me, things are not bad, I worry about our younger generation that will have to pay for all of this. Thank God for blood pressure medications but hopefully moving to the Northwoods of Wisconsin will do what it was intended to.
All true grub! I totally agree! Tariffs, and "Just In Time" supply chain/inventory systems, carry much blame on this." Just In Time", is always the weak link in the chain, and causes many failures even while it is intended to be perfectly working! Seen this for 30 plus years. And, we have been warned on both for years. Now it happened! Deal with what you're dealt, as wishful thinking is a failed idea!
predicted to be a record and beat 12.3 from 2019 eh?
we will have to see....
maybe shale will make up for all the leases cancelled and land removed from possible future leases and brandon doing all he can to punish the oil industry but that does that seem logical eh?
just release the rest of the strategic reserves, what do we need them for, brandon can just beg for opec to release more
we will have to see....
maybe shale will make up for all the leases cancelled and land removed from possible future leases and brandon doing all he can to punish the oil industry but that does that seem logical eh?
just release the rest of the strategic reserves, what do we need them for, brandon can just beg for opec to release more
pclark
Well-known member
Could world production supplies increase if we allowed the Keystone pipeline to continue/open? Is the US to depend on importing oil again or are we allowed to be part of the solution and not the problem? Is that just bull? I agree, it's probably wishful thinking with Brandon. November can't come soon enough for me.......
Perhaps so pclark? However it being very, very unlikely at best, and very, very costly at most. The Keystone pipeline, was, at least 2 + years from being close to being completed. Many parts/sections to this pipeline. Then there is the time to test, and all the final approvals needed, in many states. There are still many US groups, in these states who are forcefully opposing it, on various, and serious, issues. Safe water supply is the big one for so many. Can only refine the Gunk, on the Gulf coast refineries for so many reasons also. Just 2 refining Co's, eh? Got to love that being so! Then the need to down blend it, in order to be able to even pipeline it! And, again blend with, high $$$, "sweet crude", in order to refine, and have a viable produced product. Then this, as it would need to be "Exported" out of the USA due to the final costs! Yeah, well, now the Big Oil producers are leaving the Canadian Tar Sands, eh? This as Canadian Enviromental issues become more, and more prevalent, and production preventative. Very large areas of Canadian Tar Sands land will be left very toxic, and unusable for anything in the future. Canadians don't like that part. Perhaps that's why the people who where constructing it, bailed out so quickly, as they could see it would be exposed as a Black Swan, before they could ever complete it, and get in operation? One of my Wholesale Fuel Jobbers is who informed me on this. He was intellegent enough to realize it would cause a increase to our Midwest fuel price. This by it reversing the "cheaper" refined fuel flow from the Gulf, to Cushing, OK. Instead pushing Gunk to the Gulf. Sad, but so.
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Keystone was never built. If it had been built it would have moved Canadian tar sand oil to Texas where it would have been refined and then sent to China. The Keystone oil would have had no effect on domestic oil prices. The only benefit of Keystone was the jobs it would have provided to build it.
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Rather, Keystone was never built so there was nothing to shut down.
Not Tar Sands Gunk.