Dems talking point about oil

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Redassag94
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1:53p, 3/7/22
AG
Keep hearing from the Dems and talking heads that oil wells aren't pumping and aren't producing and this is on the oil industry. Thus this isn't the fault of anything Biden has done. My first reaction is this is likely BS, but haven't looked for sure. Anybody have data to show the opposite? This is more blame shifting and like normal is likely BS. However if it's not, I will eat my crow.

I do see that there was an infographic going around on twitter showing we are producing more oil under Biden than anytime during Trump. Turns out that graphic was a lie.
RedAssAg
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evestor1
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1:55p, 3/7/22
no need to look into it. anything a dem tells you on energy policy has a 100% chance of being incorrect.
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Aggie95
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1:56p, 3/7/22
AG
also seeing a lot of "this administration has approved more leases this year than Trump did"
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LostInLA07
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2:00p, 3/7/22
AG
If this admin was serious about surging domestic production they would do what they waste money on with covid and sign long term guaranteed contracts at whatever price is needed to lock in additional production for the next 3-5 years.

I bet we'd find a lot of wells to complete and produce from if the government promised to buy the oil at a minimum of $100/barrel or pay the different in market vs guaranteed price. Kinda like how we guarantee revenue for solar and wind power production with tax credits.
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Tom Doniphon
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2:01p, 3/7/22
Simple answer.... if this admin is so much better, why has everything gone to hell?
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tk111
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2:02p, 3/7/22
AG
I spent the weekend trying to explain to some npc family members of mine that U.S. oil production doesn't function like a f***ing faucet.


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Satellite of Love
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2:03p, 3/7/22
We are around 12 million barrels a day in oil production. It is close to late 2018 levels. Oil is leaving the ground the problem is the US' short term memory on demand. 2 years of taking time away from full US activity because of covid has made people forget the type of demands for daily consumption.
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aTmAg
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2:07p, 3/7/22
AG
Wells are turned on when they are profitable. As prices go up, less productive wells are turned on. However, if the cost of electricity is also going up at the same rate, then there is no reason to turn an unproductive well on.

The fact that wells are not pumping IS an indictment of the Fed and Biden's idiotic attempts to spend us out of inflation, not the reverse.
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TheEternalPessimist
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2:08p, 3/7/22
One of the fastest ways to reduce the cost of oil and gas is to outlaw federal and state taxes on it that are any different than that of a typical consumer product.

If you pay 8% in sales tax on other goods, that should be the tax that is on gas/oil.

--

"The Kingdom is for HE that can TAKE IT!" - Alexander
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aggieforester05
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2:10p, 3/7/22
AG
Invest all of your capital to ramp up production to help us politically so that we can get the power we need to shut you down when it becomes politically convenient.
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Funky Winkerbean
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In reply to evestor1 • 2:10p, 3/7/22
AG
evestor1 said:
no need to look into it. anything a dem tells you on anything has a 100% chance of being incorrect.
Fify
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Wabs
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2:11p, 3/7/22
AG
Spin, spin and more spin. They destroyed US energy independence and now people are paying for it - both in dollars and lives.
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Charpie
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2:11p, 3/7/22
AG
The Dems have such an opportunity to look like heroes right now. They are too dumb to realize it.
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Ag87H2O
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2:13p, 3/7/22
AG
This administration and the Democrats have done everything possible to discourage American oil production. Now that they're in a bind they're doing what Democrats do - blaming O&G for reacting rationally and predictably to their anti-hydrocarbon, green policies.
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FrioAg 00
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2:13p, 3/7/22
AG
Exactly

1) producers are hesitant to accept current pricing as very sticky, when it's all self induced and could easily be flipped when someone other than a toddler occupy a the White House again

2) the old thresholds for turning in rose with real inflation, likely 10-20% higher

3) they drive a ton of small players out of the market entirely, allowing the big boys to effectively boycott solving the problem for them. You think Exxon minds their current valuation 16x earnings in spite of a 7% dividend? They aren't inclined to bail these idiots out
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DallasAg 94
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2:17p, 3/7/22
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tk111
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In reply to aTmAg • 2:23p, 3/7/22
AG
aTmAg said:
Wells are turned on when they are profitable. As prices go up, less productive wells are turned on. However, if the cost of electricity is also going up at the same rate, then there is no reason to turn an unproductive well on.

The fact that wells are not pumping IS an indictment of the Fed and Biden's idiotic attempts to spend us out of inflation, not the reverse.
Except this is still wrong. FFS you don't just "turn on" wells and more production. That's not how it works. Yeah there are shut-in and temp abandoned wells out there but the VAST majority of them that werent forced to be plugged already are garbage gas wells that wouldn't make a dog fart if "turned on". That production is lost.

The only way to increase (or even maintain flat) production (outside of well stimulations, re-fracs, behind-pipe re-perfs, etc that can marginally increase production) is to drill new wells. There is no big valve we can go out and turn up or turn on.

Drilling new wells now involves going out and obtaining new leases for most companies because they probably let whatever they had before expire due to awful prices, doing the geo and planning work, then getting permits from inept regulatory agencies, building locations and planning midstream details, finding and hiring one of the very few remaining rigs and crews left to drill, finding and hiring one of the very few remaining frac outfits to frac and then complete the well. A company that is able to accomplish this in light speed is looking at 4+ months before a new well is done.
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The 5200 Acres
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In reply to FrioAg 00 • 2:26p, 3/7/22
AG
FrioAg 00 said:
Exactly

1) producers are hesitant to accept current pricing as very sticky, when it's all self induced and could easily be flipped when someone other than a toddler occupy a the White House again
Producers are more than willing to accept the current pricing. They can hedge that production and lock in a profit on the project by selling it forward.

This issue is a lack of financing for the projects. Psaki says the E&P companies should be able to finance it out of cash flow, As usual, she is clueless. A serious ramp in drilling programs will require significant financing by banks or through the sale of bonds. Wall Street and ESG programs have cut off access to that capital.

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aggie93
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2:28p, 3/7/22
AG
Fundamentally you need to understand that most people have no realization of how the O&G business works or farming or most things. This is especially true of liberals who think they are saving the planet by buying an electric car with "zero emissions" because electricity comes magically into the socket. The Bloomberg quote a few years ago hit the nail on the head to show this ignorance:

Quote:
I can teach anybody even people in this room, so no offense intended to be a farmer. It's a process. You dig a hole, you put a seed in, you put dirt on top, you add water, up comes corn.
To them you just "turn on the oil pump" anytime you want. They have no understanding of what is involved in terms of risks and capital expenditures nor do they care. All they know is it isn't their fault.

Another good example is liberals from the city love to romanticize bears. They think they are cute and wonderful. Folks who live in communities with bears know they get into freaking everything and they are extremely dangerous and can be viscous, especially Grizzlies. At best they are a nuisance.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
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Martin Cash
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In reply to tk111 • 2:44p, 3/7/22
AG
tk111 said:
aTmAg said:
Wells are turned on when they are profitable. As prices go up, less productive wells are turned on. However, if the cost of electricity is also going up at the same rate, then there is no reason to turn an unproductive well on.

The fact that wells are not pumping IS an indictment of the Fed and Biden's idiotic attempts to spend us out of inflation, not the reverse.
Except this is still wrong. FFS you don't just "turn on" wells and more production. That's not how it works. Yeah there are shut-in and temp abandoned wells out there but the VAST majority of them that werent forced to be plugged already are garbage gas wells that wouldn't make a dog fart if "turned on". That production is lost.

The only way to increase (or even maintain flat) production (outside of well stimulations, re-fracs, behind-pipe re-perfs, etc that can marginally increase production) is to drill new wells. There is no big valve we can go out and turn up or turn on.

Drilling new wells now involves going out and obtaining new leases for most companies because they probably let whatever they had before expire due to awful prices, doing the geo and planning work, then getting permits from inept regulatory agencies, building locations and planning midstream details, finding and hiring one of the very few remaining rigs and crews left to drill, finding and hiring one of the very few remaining frac outfits to frac and then complete the well. A company that is able to accomplish this in light speed is looking at 4+ months before a new well is done.
I would assume there are some productive wells that were turned off on January 21, 2021 when President Depends shut down production on all federal lands.
The heart of the wise inclines to the right, but the heart of the fool to the left. Ecclesiastes 10:2
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The 5200 Acres
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2:50p, 3/7/22
AG
Production was not shut down on Federal leases. There was a halt on new Federal leasing.

You do not shut down production on a producing well. The term on most leases extends as long as production is maintain in "economic quantities". Shut in your well and lose your lease.
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tk111
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In reply to Martin Cash • 2:52p, 3/7/22
AG
Martin Cash said:


I would assume there are some productive wells that were turned off on January 21, 2021 when President Depends shut down production on all federal lands.
He shut down new leasing from the federal govt on fed lands. He didnt shut down production. Mfkr would've been assassinated. Imagine drilling a ****ton of horizontal wells New Mexico at $12+million a pop and then Waffle Cone coming around and pulling the plug. Billions in capital literally thrown in holes.
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TxTarpon
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In reply to Redassag94 • 3:01p, 3/7/22
DemocRATS green, not oil policies while wanting guys to give up their big trucks for.....


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LMCane
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3:02p, 3/7/22
do the network news report the stock market each day?

or only when it is a republican president and the markets drop.

Dow down 800 points, NASDAQ even worse drop of nearly 4% today.
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Line Ate Member
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In reply to DallasAg 94 • 3:04p, 3/7/22
AG
DallasAg 94 said:
This was not just about Coal. It was about ALL Carbon energy:




Funny. He is so concerned with green house emissions that he has one of his residencies on Hawaii, where the earth has several large "green house gas" emission spots.

How much did he charge the Hawaiian citizens for not controlling their islands emissions? Oh the Humanity!!!
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HollywoodBQ
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3:09p, 3/7/22
AG
Here's the source:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

Note these US oil production levels in Mbpd as they map to the beginning of Presidential terms:
Jan. 1961 - 7.210 - Kennedy
Jan. 1965 - 7.773 - LBJ
Jan. 1969 - 8.888 - Nixon I
Jan. 1973 - 9.176 - Nixon II
Jan. 1977 - 7.854 - Carter
Jan. 1981 - 8.540 - Reagan I
Jan. 1985 - 8.740 - Reagan II
Jan. 1989 - 7.937 - Bush 41
Jan. 1993 - 6.961 - Clinton I
Jan. 1997 - 6.402 - Clinton II
Jan. 2001 - 5.799 - Bush 43 I
Jan. 2005 - 5.446 - Bush 43 II
Jan. 2009 - 5.144 - Obama I
Jan. 2013 - 7.084 - Obama II
Jan. 2017 - 8.873 - Trump
Jan. 2021 - 11.056 - Biden

Looking at those numbers, it appears that the Bushes and Clinton hated Oil while Obama and Trump loved oil.

And for the domestic energy independence crowd, the most oil we ever produced domestically was 12.966 Mbdp in November 2019. November 2021, we were only down to 11.773 Mbpd which was still more than when Biden took office.

I'll have to dig up the OPEC numbers for comparison.
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PCC_80
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3:34p, 3/7/22
AG
I believe that I heard that Biden and Comp last year reduced the Methane Allowance for a lot of wells and that resulted in a lot of older wells being forced to be closed because they suddenly became unprofitable. Can anyone confirm this and provide more detail.
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APHIS AG
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In reply to Redassag94 • 8:40p, 3/7/22
Redassag94 said:
Keep hearing from the Dems and talking heads that oil wells aren't pumping and aren't producing and this is on the oil industry. Thus this isn't the fault of anything Biden has done. My first reaction is this is likely BS, but haven't looked for sure. Anybody have data to show the opposite? This is more blame shifting and like normal is likely BS. However if it's not, I will eat my crow.

I do see that there was an infographic going around on twitter showing we are producing more oil under Biden than anytime during Trump. Turns out that graphic was a lie.
Just another "big lie". They keep on saying the same thing over and over again and sooner or later, people will believe it for if CNN or ABC News reports it, it must be true.
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Bondag
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In reply to Charpie • 8:44p, 3/7/22
AG
Charpie said:
The Dems have such an opportunity to look like heroes right now. They are too dumb to realize it.
I have emailed my congresswoman 3 days in a row telling her that and reminding her I told her that the day the Keystone Pipeline was cancelled, as well as when Nordstream II sanctions were lifted and a year ago said we needed cheaper nuclear instead of unicorns and rainbows for energy, but she never responds.
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samurai_science
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In reply to HollywoodBQ • 8:47p, 3/7/22
HollywoodBQ said:
Here's the source:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

Note these US oil production levels in Mbpd as they map to the beginning of Presidential terms:
Jan. 1961 - 7.210 - Kennedy
Jan. 1965 - 7.773 - LBJ
Jan. 1969 - 8.888 - Nixon I
Jan. 1973 - 9.176 - Nixon II
Jan. 1977 - 7.854 - Carter
Jan. 1981 - 8.540 - Reagan I
Jan. 1985 - 8.740 - Reagan II
Jan. 1989 - 7.937 - Bush 41
Jan. 1993 - 6.961 - Clinton I
Jan. 1997 - 6.402 - Clinton II
Jan. 2001 - 5.799 - Bush 43 I
Jan. 2005 - 5.446 - Bush 43 II
Jan. 2009 - 5.144 - Obama I
Jan. 2013 - 7.084 - Obama II
Jan. 2017 - 8.873 - Trump
Jan. 2021 - 11.056 - Biden

Looking at those numbers, it appears that the Bushes and Clinton hated Oil while Obama and Trump loved oil.

And for the domestic energy independence crowd, the most oil we ever produced domestically was 12.966 Mbdp in November 2019. November 2021, we were only down to 11.773 Mbpd which was still more than when Biden took office.

I'll have to dig up the OPEC numbers for comparison.
Might as well go all the way back to 1920 and show us the numbers, because what you posted is useless. Nice try though.


The chart and numbers look at lot different if you dont skip years.
Trump 2020 12,785


Also, lets wait and see what the production values look like AFTER we see the damage done by the Democrats
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Fightin_Aggie
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In reply to Aggie95 • 8:48p, 3/7/22
AG
Aggie95 said:
also seeing a lot of "this administration has approved more leases this year than Trump did"
Notice they don't talk about all the leases they canceled?

Nor do they talk about how many permits they have allowed.
The world needs mean tweets

My Pronouns Ultra and MAGA

Trump 2024
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Marcus Brutus
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In reply to HollywoodBQ • 8:54p, 3/7/22
HollywoodBQ said:
Here's the source:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

Note these US oil production levels in Mbpd as they map to the beginning of Presidential terms:
Jan. 1961 - 7.210 - Kennedy
Jan. 1965 - 7.773 - LBJ
Jan. 1969 - 8.888 - Nixon I
Jan. 1973 - 9.176 - Nixon II
Jan. 1977 - 7.854 - Carter
Jan. 1981 - 8.540 - Reagan I
Jan. 1985 - 8.740 - Reagan II
Jan. 1989 - 7.937 - Bush 41
Jan. 1993 - 6.961 - Clinton I
Jan. 1997 - 6.402 - Clinton II
Jan. 2001 - 5.799 - Bush 43 I
Jan. 2005 - 5.446 - Bush 43 II
Jan. 2009 - 5.144 - Obama I
Jan. 2013 - 7.084 - Obama II
Jan. 2017 - 8.873 - Trump
Jan. 2021 - 11.056 - Biden

Looking at those numbers, it appears that the Bushes and Clinton hated Oil while Obama and Trump loved oil.

And for the domestic energy independence crowd, the most oil we ever produced domestically was 12.966 Mbdp in November 2019. November 2021, we were only down to 11.773 Mbpd which was still more than when Biden took office.

I'll have to dig up the OPEC numbers for comparison.


Frac'ing was not around during Ws and Clinton's terms, that's why the numbers are low. It took off under Obama.

We are 10% lower now than the final month of Trump pre covid.
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PeekingDuck
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In reply to PCC_80 • 1:00a, 3/8/22
AG
There is no methane allowance for wells in America. There was a proposed tax on methane loss after some deductions for produced and sold methane, but it hasn't passed in any legislation yet. There are also some new rules related to gas capture in New Mexico, but that isn't causing less production.
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johnnyblaze36
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1:14a, 3/8/22
AG
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HollywoodBQ
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In reply to Marcus Brutus • 1:15a, 3/8/22
AG
Marcus Brutus said:
HollywoodBQ said:
Here's the source:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

Note these US oil production levels in Mbpd as they map to the beginning of Presidential terms:
Jan. 1961 - 7.210 - Kennedy
Jan. 1965 - 7.773 - LBJ
Jan. 1969 - 8.888 - Nixon I
Jan. 1973 - 9.176 - Nixon II
Jan. 1977 - 7.854 - Carter
Jan. 1981 - 8.540 - Reagan I
Jan. 1985 - 8.740 - Reagan II
Jan. 1989 - 7.937 - Bush 41
Jan. 1993 - 6.961 - Clinton I
Jan. 1997 - 6.402 - Clinton II
Jan. 2001 - 5.799 - Bush 43 I
Jan. 2005 - 5.446 - Bush 43 II
Jan. 2009 - 5.144 - Obama I
Jan. 2013 - 7.084 - Obama II
Jan. 2017 - 8.873 - Trump
Jan. 2021 - 11.056 - Biden

Looking at those numbers, it appears that the Bushes and Clinton hated Oil while Obama and Trump loved oil.

And for the domestic energy independence crowd, the most oil we ever produced domestically was 12.966 Mbdp in November 2019. November 2021, we were only down to 11.773 Mbpd which was still more than when Biden took office.

I'll have to dig up the OPEC numbers for comparison.


Frac'ing was not around during Ws and Clinton's terms, that's why the numbers are low. It took off under Obama.

We are 10% lower now than the final month of Trump pre covid.
Fracking definitely took off in the 2010s.

But, by 2010, they were already on the talking points and anti-fracking propaganda. Remember the movie Gasland?
https://en.wikipedia.org/wiki/Gasland

Or, the 2012 cinematic masterpiece "Promised Land" that was funded by the Emirates?
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