Due to the war, is american/Canadian oil flowing to Europe?

Domestic supply could be the problem.

JP_Losman said:

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If shale companies decided today to increase production it would take a minimum of 6-12 months before that could be felt in the global price of oil

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So what? Why would we not start the process? Wouldn't it give the market some optimism?

How long is it going to take to get Iranian or Venezuelan oil here? I'd hazard a guess of 3 to 4 months.

The Biden admin is trying to play both sides of the coin. Pskai says we aren't going to cut off buying gas from Russia because it's a very small part of our imports yet she also blames this rise on Russia. Which is it? Can't be both.

The reality is John Kerry has been pressuring banks and lenders to divest from oil companies while Joe biden's admin has been mucking up the gears of existing production.

They want this for two reasons:

1. Expiditie the move to electric
2. If we produce oil domestically, we can't lower our arbitrary climate limits. If we get it from foreign sources, we don't have to claim it as our emissions. Or something similar.


Further, how long have we known there was a likely chance Russia was going to invade? Since January? There's 2 months there this admin has wasted in prepping for this predictable surge


It's absurd.

Burn gas!!

I don't think a lot of you understand how it works

Quote:

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gotta ram Green New Deal in after before November's election day

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If the democRATs loose big in November then watch them ram it through the house.

Dark_Knight said:

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I don't think a lot of you understand how it works

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Yes, I understand it.

1939 said:

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The D said:

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There is a supply issue. Where you get the information that there isn't ? All companies cut back 2 years ago and haven't matched prior supply. The company I work for had 8 rigs onshore and now we are only running 3- that's going to cut supply.

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Did that supply issue start 2 weeks ago? There may be a supply issue as far as regulation and the like goes but oil inventories are not at critically low levels.

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It started 2 years ago. Companies are not drilling like they used to. They are returning cash to shareholders. Not growing production.

We are hearing from traders who aren't buying oil from Russia - even though they can - because they aren't confident in finding a ship to carry the load. The shippers are worried about embargo's as well. Then, like the UK port, what if no one is there to unload the tanker?

I think the price you are seeing is the expectation of future supply issues.

Marcus Brutus said:

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Gap said:

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1939 said:

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There isn't a supply issue, and Sleepy is going to allow Iranian oil to flow in the next week it seems. Even if we stop buying Russian oil, it will just go to other parts of the world, but if they announce that oil will be at $150bbl.

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Because of stupidity.

The commodity is available from a democratic neighbor in Canada, yet this administration cancelled a pipeline ON DAY ONE that would have made it more readily and easily available to us. Similar decisions were made with ANWAR in Alaska years ago. Instead the choice is made to be reliant on product from risky places like Iran, Venezuela, Russia, and other OPEC members where the free flow will always be at risk. Seems like a strategy to keep the price elevated and at risk as compared to the opposite.

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I saw the redhead demon say "the pipeline oil would not be available now anyway even if we had not killed it"

That's the same crap Obama said when he killed the pipeline: "it wont be available for 10 years", when oil prices were spiking.

Well, that was 13 years ago! Had Obama approved it, the oil would be flowing now!

They are evil!

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Believe it was only 8% finished when Biden stopped it. 8%.
Wouldn't be relevant until 2023 at the earliest.

jteAg said:

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Marcus Brutus said:

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Gap said:

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1939 said:

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There isn't a supply issue, and Sleepy is going to allow Iranian oil to flow in the next week it seems. Even if we stop buying Russian oil, it will just go to other parts of the world, but if they announce that oil will be at $150bbl.

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Because of stupidity.

The commodity is available from a democratic neighbor in Canada, yet this administration cancelled a pipeline ON DAY ONE that would have made it more readily and easily available to us. Similar decisions were made with ANWAR in Alaska years ago. Instead the choice is made to be reliant on product from risky places like Iran, Venezuela, Russia, and other OPEC members where the free flow will always be at risk. Seems like a strategy to keep the price elevated and at risk as compared to the opposite.

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I saw the redhead demon say "the pipeline oil would not be available now anyway even if we had not killed it"

That's the same crap Obama said when he killed the pipeline: "it wont be available for 10 years", when oil prices were spiking.

Well, that was 13 years ago! Had Obama approved it, the oil would be flowing now!

They are evil!

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Believe it was only 8% finished when Biden stopped it. 8%.
Wouldn't be relevant until 2023 at the earliest.

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The point went right over your liberal noggin.

jteAg said:

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Marcus Brutus said:

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Gap said:

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1939 said:

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There isn't a supply issue, and Sleepy is going to allow Iranian oil to flow in the next week it seems. Even if we stop buying Russian oil, it will just go to other parts of the world, but if they announce that oil will be at $150bbl.

---

Because of stupidity.

The commodity is available from a democratic neighbor in Canada, yet this administration cancelled a pipeline ON DAY ONE that would have made it more readily and easily available to us. Similar decisions were made with ANWAR in Alaska years ago. Instead the choice is made to be reliant on product from risky places like Iran, Venezuela, Russia, and other OPEC members where the free flow will always be at risk. Seems like a strategy to keep the price elevated and at risk as compared to the opposite.

---

I saw the redhead demon say "the pipeline oil would not be available now anyway even if we had not killed it"

That's the same crap Obama said when he killed the pipeline: "it wont be available for 10 years", when oil prices were spiking.

Well, that was 13 years ago! Had Obama approved it, the oil would be flowing now!

They are evil!

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Believe it was only 8% finished when Biden stopped it. 8%.
Wouldn't be relevant until 2023 at the earliest.

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Okay brah - what's our current solution now? You have zero idea what you are talking about.

aggiebrad94 said:

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We are hearing from traders who aren't buying oil from Russia - even though they can - because they aren't confident in finding a ship to carry the load. The shippers are worried about embargo's as well. Then, like the UK port, what if no one is there to unload the tanker?

I think the price you are seeing is the expectation of future supply issues.

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It's going to be terrifying and amazing how this world is going to grind to a halt due to the incompetence of the implementation of globalism. Everybody is waiting for somebody else or pointing a finger.

YouBet said:

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1939 said:

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There isn't a supply issue, and Sleepy is going to allow Iranian oil to flow in the next week it seems. Even if we stop buying Russian oil, it will just go to other parts of the world, but if they announce that oil will be at $150bbl.

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Emotions.

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Sepculators

I would naively say its because The Cabal wants it to for some reason. Running the planet into the ground is another byproduct.

Yesterday said:

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West Texas looks like we still have $40/b oil. I get we can't just fire up production but oil has been going up for 8 months. There's a reason companies are not putting up capital to kick off production. And it's not because this administration supports O&G.

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Yep. This administration has effectively cut off the supply of capital to the O&G industry. The Gov. has restricted the free flow of capital in our economy.

The D said:

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There is a supply issue. Where you get the information that there isn't ? All companies cut back 2 years ago and haven't matched prior supply. The company I work for had 8 rigs onshore and now we are only running 3- that's going to cut supply.

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Does anybody remember what happened 2 years. The month end closing price went negative in April of 2020

A couple of obvious points :
two years ago there was not a shortage there was a glut ; if the price of oil goes negative it can be expected that supply will decrease immediately and dramatically ; lastly events in April of 2020 can not be spun to the FJB narrative.
FJB is not making life easy on the O&G industry but I am thinking the negative price of oil was the primary catalyst to decreasing supply. If the price is high the O&G industry finds new reserves and gets it to the refineries and does not give a **** what the current administration position is.

Boom bust boom it is what oil does

Something else I have noticed is there are people that actually sat at home for 2 years. As they venture back to office, gym, stores etc. there is an even higher demand with a pinch in supply.

Wife said there are multiple people in barre class she hasn't seen since march 2020 that think it is safe now after SOTU

Agthatbuilds said:

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Russia + John kerry + Joe biden

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Russia is an excuse for we get abut 15% of our crude from them. However, Kerry + Biden are right on.

One way to make people stop buying gas and promote "green" is to make prices so high that people will not be able to afford it.

APHIS AG said:

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Agthatbuilds said:

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Russia + John kerry + Joe biden

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Russia is an excuse for we get abut 15% of our crude from them. However, Kerry + Biden are right on.

One way to make people stop buying gas and promote "green" is to make prices so high that people will not be able to afford it.

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3%. Libs are using the war in Russia for their own agenda.

Russia is an factor unless diesel went up 75 cents on its own in the last 5 days.

Overall, Russia is a sidebar. Our energy problem and relative pricing is a policy problem.

The democrats want this. This is by design. They say it almost everyday now themselves.

jteAg said:

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Marcus Brutus said:

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Gap said:

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1939 said:

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There isn't a supply issue, and Sleepy is going to allow Iranian oil to flow in the next week it seems. Even if we stop buying Russian oil, it will just go to other parts of the world, but if they announce that oil will be at $150bbl.

---

Because of stupidity.

The commodity is available from a democratic neighbor in Canada, yet this administration cancelled a pipeline ON DAY ONE that would have made it more readily and easily available to us. Similar decisions were made with ANWAR in Alaska years ago. Instead the choice is made to be reliant on product from risky places like Iran, Venezuela, Russia, and other OPEC members where the free flow will always be at risk. Seems like a strategy to keep the price elevated and at risk as compared to the opposite.

---

I saw the redhead demon say "the pipeline oil would not be available now anyway even if we had not killed it"

That's the same crap Obama said when he killed the pipeline: "it wont be available for 10 years", when oil prices were spiking.

Well, that was 13 years ago! Had Obama approved it, the oil would be flowing now!

They are evil!

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Believe it was only 8% finished when Biden stopped it. 8%.
Wouldn't be relevant until 2023 at the earliest.

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You missed the point.....it would be done by now except a Democrat named Obama stopped it.

In 2008, then candidate Obama said that gas prices would necessarily skyrocket in order for his clean energy initiatives to work.

Well, here we are. A puppet administration run by Obama's disciples.

If we Republicans had a brain, we'd run that clip for every single House and Senate race this year.

1939 said:

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The D said:

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There is a supply issue. Where you get the information that there isn't ? All companies cut back 2 years ago and haven't matched prior supply. The company I work for had 8 rigs onshore and now we are only running 3- that's going to cut supply.

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Did that supply issue start 2 weeks ago? There may be a supply issue as far as regulation and the like goes but oil inventories are not at critically low levels.

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Down to 20MMbbl at Cushing. A steady decline from 3x that number….2 years ago.

For perspective, that's in the range of its lowest inventory since 2005.

GeorgiAg said:

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LMCane said:

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GeorgiAg said:

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Elon Musk needs to sell some Teslas

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actually Musk posted to social media that the USA is idiotic for not drilling more of it's own oil right now in this emergency!

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I agree with Elon! Drill now! Now is not the time to worry about the environment. Crush Russia first!

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ironic post

AgDad121619 said:

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GeorgiAg said:

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LMCane said:

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GeorgiAg said:

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Elon Musk needs to sell some Teslas

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actually Musk posted to social media that the USA is idiotic for not drilling more of it's own oil right now in this emergency!

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I agree with Elon! Drill now! Now is not the time to worry about the environment. Crush Russia first!

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ironic post

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That's the truth. Ole georgi boy should be begging to pay more at the pump.

The Chicken Ranch said:

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In 2008, then candidate Obama said that gas prices would necessarily skyrocket in order for his clean energy initiatives to work.

Well, here we are. A puppet administration run by Obama's disciples.

If we Republicans had a brain, we'd run that clip for every single House and Senate race this year.

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Gas is not cleaner if USA doesn't produce. We have no control over energy fro ME, Russia or China.

If you want clean oil put your money where your mouth is and produce it in USA. Bad enough that there is foreign oil that is government run so they can sell at a loss with government supplements but we also make US oil life up to unreal expectations with no help.

Agreed. This administration is being run by traitors.

aggiebrad94 said:

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We are hearing from traders who aren't buying oil from Russia - even though they can - because they aren't confident in finding a ship to carry the load. The shippers are worried about embargo's as well. Then, like the UK port, what if no one is there to unload the tanker?

I think the price you are seeing is the expectation of future supply issues.

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Blue Star for you

FINALLY someone that is paying attention to the actual facts and not the crap they are spewing on TV, including Hannity and all of them

We haven't bought one barrel of oil from Russia since 2-18-2022, check for yourself it's not hard to verify.

All this Bluster about WE (being the USA) are funding Putin's war currently is 100% BS. The US industry cut off Putin before he ever crossed the Ukraine borders because they saw this coming. They assumed Biden would put an embargo on and no one wanted to be caught without a chair (or in this case a 2,000,000 bbl supertanker) when the music stops.

https://www.eia.gov/opendata/qb.php?category=314543&sdid=PET.W_EPC0_IM0_NUS-NRS_MBBLD.W

Short answer: Stupid Joe is an idiot.

harge57 said:

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Yesterday said:

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West Texas looks like we still have $40/b oil. I get we can't just fire up production but oil has been going up for 8 months. There's a reason companies are not putting up capital to kick off production. And it's not because this administration supports O&G.

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Yep. This administration has effectively cut off the supply of capital to the O&G industry. The Gov. has restricted the free flow of capital in our economy.

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This. This libtard gov is way out of control. Oppressive nightmare in the making

In the short term speculative futures trading causes most of the volatility we see. Many times much of the market hedges or takes a short position that gets blown up and forces more buying, exacerbating the problem.

Not too long ago we had a physical shortage of oil storage facilities, today we don't have enough oil.

In my opinion, I hope this squeeze continues for maybe another year. Benefits me as I keep working. This will also put the hurt on all those dumbass liberals, to the point that they'll hopefully abandon all this stupid ESG bullcrap with investors and companies. Therefore freeing up more capital for investing in O&G and let us do our damn jobs.

Also remember, because of inflation $100/bbl now is worth ~$80/bbl from 2012.

The Chicken Ranch said:

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In 2008, then candidate Obama said that gas prices would necessarily skyrocket in order for his clean energy initiatives to work.

Well, here we are. A puppet administration run by Obama's disciples.

If we Republicans had a brain, we'd run that clip for every single House and Senate race this year.

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Where's the clip? I would like to share it if you have a link.

That's not a verbatim quote, but it does fairly state the gist of Obama's policy.

Uttered in 2008, still haunting Obama

Quote:

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Here's one line that President Barack Obama might want to rewind: "Under my plan … electricity rates would necessarily skyrocket."

That quip from a January 2008 interview with the San Francisco Chronicle editorial board is making the rounds in conservative circles even Mitt Romney referred to it last month and it likely won't go away anytime soon.

"If somebody wants to build a coal-fired power plant, they can. It's just that it will bankrupt them," Obama said, responding to a question about his cap-and-trade plan. He later added, "Under my plan … electricity rates would necessarily skyrocket."

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Further along those lines:

(McCain Campaign) Press Release - Barack Obama's "Gradual Adjustment" To Higher Gas Prices

Quote:

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In An Interview With CNBC, Barack Obama Said He Would Have Preferred A "Gradual" Increase In Gasoline Prices. BARACK OBAMA: "Well, I think that we have been slow to move in a better direction when it comes to energy usage. And the president, frankly, hasn't had an energy policy. And as a consequence, we've been consuming energy as if it's infinite. We now know that our demand is badly outstripping supply with China and India growing as rapidly as they are. So..." HARWOOD: "So could these high prices help us?" BARACK OBAMA: "I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment, first of all by putting more money into their pockets, but also by encouraging the market to adapt to these new circumstances more quickly, particularly US automakers, then I think ultimately, we can come out o f this stronger and have a more efficient energy policy than we do right now." (CNBC, 6/10/08)

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