TxAgswin said:

---

fantasma said:

---

sicandtiredTXN said:

---

Biden takes office inflation was 1.4%

• Jan 2021 - "When I implement my build back better plan I'm going to turn this economy around. I'm not going to shut down the economy I'm going to shut down the virus" (228,000 covid US deaths) Biden Signs 28 executive orders on Jan 20 2021 including killing the Keystone Pipeline, killed drilling on BLM land, and used his buddies on Wall Street to stop funding drilling anywhere, as well as lifting Trump's sanctions on Russia, and halting Trump's immigration remain in Mexico policy. The average national price for gasoline is at $2.38 for the week of Jan. 19, 2021. 785K crossed the southern border in 2020 65% were immediately deported
• March 2021 Inflation @ 2.6% "This inflation is just transitory, build back better will bring it back down"
• April 2021 Inflation @ 4.2% "This inflation is transitory, give my plan time to show real results"
• May 2021 Inflation @ 5% "We have Supply chain issues affecting the economy, which is why we need to pass build back better" Fuel Avg $2.85
• Jul 2021 Inflation @ 5.4% still blaming supply chain and Trump Fuel avg $2.95
• Nov 2021 Inflation @ 6.8% Biden signs $1.3 trillion "infrastructure" bill that is only actually 23% about infrastructure
• Dec 2021 inflation @ 7% (40 year high) Biden is bragging about saving Christmas. Fuel avg tops $3.00 and 989K dead from COVID Build Back Batter fails in the Senate - 2 million crossed the southern border in 2021 23% were deported.
• Feb 2022 inflation @ 7.9% Biden's blaming Manchin and Senima for killing Build Back Better Fuel avg $3.85
• Mar 2022 Inflation numbers N/A Putin invades Ukraine Fuel avg $4.33 Biden is blaming Putin now and Trump for weakening NATO.

Biden's full of excuses and ZERO answers

---

would add January 2022 Biden: " that's a great asset, more inflation..."

---

You conveniently left out the second half of the clearly sarcastic quote "that's a great asset, more inflation. What a stupid son of a *****".

And, in fairness, it was a stupid question. The guy asked him if he thought inflation was a problem for him politically. I think a "what do you think, dumbass? Yeah, it's a huge ****ing problem." would have been a reasonable answer there.

Also, is lashing out at the media suddenly frowned upon? Are only Republican Presidents allowed to do that? His predecessor did similar **** (usually much worse) in virtually every press conference he held for four years and the Right applauded him. Biden does it once and the Right jumps all over him and says he's losing his mind. Absolute hypocrisy.

---

Are you enjoying your 15% inflation?

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

Maybe that's helping cover a bunch of massive losses and wrote downs from 2020?

The D said:

---

He can't even talk at this point. So sad. Imagine where he is going to be in 2-3 years

---

I can imagine where he will be. And it makes me feel much better.

The man is destroying wealth. 15% inflation takes just few years to completely destroy the dollar.

And his "genius" supporters continue to post and defend the guy.

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

They are paying off all the debt they accumulated during the time when you Marxists shut down the economy. You don't know the first thing about the oil industry or economics.

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

HEY GENIUS...

CHEVRON LOST ALMOST $7 BILLION IN 2020. I didn't check other oil companies, but I'm sure they lost billions too.

I guess you forgot about the year 2020 when companies were struggling to survive because your leaders decided to kill the economy.

Marcus Brutus said:

---

TxAgswin said:

---

fantasma said:

---

sicandtiredTXN said:

---

Biden takes office inflation was 1.4%

• Jan 2021 - "When I implement my build back better plan I'm going to turn this economy around. I'm not going to shut down the economy I'm going to shut down the virus" (228,000 covid US deaths) Biden Signs 28 executive orders on Jan 20 2021 including killing the Keystone Pipeline, killed drilling on BLM land, and used his buddies on Wall Street to stop funding drilling anywhere, as well as lifting Trump's sanctions on Russia, and halting Trump's immigration remain in Mexico policy. The average national price for gasoline is at $2.38 for the week of Jan. 19, 2021. 785K crossed the southern border in 2020 65% were immediately deported
• March 2021 Inflation @ 2.6% "This inflation is just transitory, build back better will bring it back down"
• April 2021 Inflation @ 4.2% "This inflation is transitory, give my plan time to show real results"
• May 2021 Inflation @ 5% "We have Supply chain issues affecting the economy, which is why we need to pass build back better" Fuel Avg $2.85
• Jul 2021 Inflation @ 5.4% still blaming supply chain and Trump Fuel avg $2.95
• Nov 2021 Inflation @ 6.8% Biden signs $1.3 trillion "infrastructure" bill that is only actually 23% about infrastructure
• Dec 2021 inflation @ 7% (40 year high) Biden is bragging about saving Christmas. Fuel avg tops $3.00 and 989K dead from COVID Build Back Batter fails in the Senate - 2 million crossed the southern border in 2021 23% were deported.
• Feb 2022 inflation @ 7.9% Biden's blaming Manchin and Senima for killing Build Back Better Fuel avg $3.85
• Mar 2022 Inflation numbers N/A Putin invades Ukraine Fuel avg $4.33 Biden is blaming Putin now and Trump for weakening NATO.

Biden's full of excuses and ZERO answers

---

would add January 2022 Biden: " that's a great asset, more inflation..."

---

You conveniently left out the second half of the clearly sarcastic quote "that's a great asset, more inflation. What a stupid son of a *****".

And, in fairness, it was a stupid question. The guy asked him if he thought inflation was a problem for him politically. I think a "what do you think, dumbass? Yeah, it's a huge ****ing problem." would have been a reasonable answer there.

Also, is lashing out at the media suddenly frowned upon? Are only Republican Presidents allowed to do that? His predecessor did similar **** (usually much worse) in virtually every press conference he held for four years and the Right applauded him. Biden does it once and the Right jumps all over him and says he's losing his mind. Absolute hypocrisy.

---

Are you enjoying your 15% inflation?

---

Nope. It sucks. It's a problem.

And I can concede that the Biden Whitehouse probably overheated the economy by pumping out way too much cash last year.

I wasn't arguing the inflation, I was arguing that Biden calling out that reporter was justifiable, because it was just a stupid question. When Trump thought he was asked a stupid question he would go off on the reporter for like five minutes calling them all sorts of ***** Biden says under his breath "stupid son of a *****" and the Right goes nuts and that somehow indicates he's losing it. I thought it was candid, and kind of funny to be honest.

TxAgswin said:

---

fantasma said:

---

sicandtiredTXN said:

---

Biden takes office inflation was 1.4%

• Jan 2021 - "When I implement my build back better plan I'm going to turn this economy around. I'm not going to shut down the economy I'm going to shut down the virus" (228,000 covid US deaths) Biden Signs 28 executive orders on Jan 20 2021 including killing the Keystone Pipeline, killed drilling on BLM land, and used his buddies on Wall Street to stop funding drilling anywhere, as well as lifting Trump's sanctions on Russia, and halting Trump's immigration remain in Mexico policy. The average national price for gasoline is at $2.38 for the week of Jan. 19, 2021. 785K crossed the southern border in 2020 65% were immediately deported
• March 2021 Inflation @ 2.6% "This inflation is just transitory, build back better will bring it back down"
• April 2021 Inflation @ 4.2% "This inflation is transitory, give my plan time to show real results"
• May 2021 Inflation @ 5% "We have Supply chain issues affecting the economy, which is why we need to pass build back better" Fuel Avg $2.85
• Jul 2021 Inflation @ 5.4% still blaming supply chain and Trump Fuel avg $2.95
• Nov 2021 Inflation @ 6.8% Biden signs $1.3 trillion "infrastructure" bill that is only actually 23% about infrastructure
• Dec 2021 inflation @ 7% (40 year high) Biden is bragging about saving Christmas. Fuel avg tops $3.00 and 989K dead from COVID Build Back Batter fails in the Senate - 2 million crossed the southern border in 2021 23% were deported.
• Feb 2022 inflation @ 7.9% Biden's blaming Manchin and Senima for killing Build Back Better Fuel avg $3.85
• Mar 2022 Inflation numbers N/A Putin invades Ukraine Fuel avg $4.33 Biden is blaming Putin now and Trump for weakening NATO.

Biden's full of excuses and ZERO answers

---

would add January 2022 Biden: " that's a great asset, more inflation..."

---

You conveniently left out the second half of the clearly sarcastic quote "that's a great asset, more inflation. What a stupid son of a *****".

And, in fairness, it was a stupid question. The guy asked him if he thought inflation was a problem for him politically. I think a "what do you think, dumbass? Yeah, it's a huge ****ing problem." would have been a reasonable answer there.

Also, is lashing out at the media suddenly frowned upon? Are only Republican Presidents allowed to do that? His predecessor did similar **** (usually much worse) in virtually every press conference he held for four years and the Right applauded him. Biden does it once and the Right jumps all over him and says he's losing his mind. Absolute hypocrisy.

---

Nope, I wish every politician would lash out at the media because that means the press is actually doing it's job and pressing politicians.

Pretty obvious in this thread who the "Stupid SOB" is.

But keep worshiping your god - Big Govt

It's working out so well

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

Why would they do that when the EPA has been weaponized and come in and burden them to death with bull**** regulations. That's just too much of a risk to take in the current political environment.

Marcus Brutus said:

---

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

HEY GENIUS...

CHEVRON LOST ALMOST $7 BILLION IN 2020. I didn't check other oil companies, but I'm sure they lost billions too.

I guess you forgot about the year 2020 when companies were struggling to survive because your leaders decided to kill the economy.

---

I didn't cite 2020 earnings, I cited 2021.

Who was president in 2020?

I guess when a Republican is in the White House their hands are tied and they are powerless and at the mercy of Democrats and forces out of their control. However, when a Democrat is in the White House every economic metric imaginable is tied directly to their policies.

TxAgswin said:

---

Marcus Brutus said:

---

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

HEY GENIUS...

CHEVRON LOST ALMOST $7 BILLION IN 2020. I didn't check other oil companies, but I'm sure they lost billions too.

I guess you forgot about the year 2020 when companies were struggling to survive because your leaders decided to kill the economy.

---

I didn't cite 2020 earnings, I cited 2021.

Who was president in 2020?

I guess when a Republican is in the White House their hands are tied and they are powerless and at the mercy of Democrats and forces out of their control. However, when a Democrat is in the White House every economic metric imaginable is tied directly to their policies.

---

Wow. You know nothing of the industry. Go away now

TxAgswin said:

---

Marcus Brutus said:

---

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

HEY GENIUS...

CHEVRON LOST ALMOST $7 BILLION IN 2020. I didn't check other oil companies, but I'm sure they lost billions too.

I guess you forgot about the year 2020 when companies were struggling to survive because your leaders decided to kill the economy.

---

I didn't cite 2020 earnings, I cited 2021.

Who was president in 2020?

I guess when a Republican is in the White House their hands are tied and they are powerless and at the mercy of Democrats and forces out of their control. However, when a Democrat is in the White House every economic metric imaginable is tied directly to their policies.

---

Trump didn't shut down a single business. Blue state governments across the country shut down the economy during covid. That led to mass losses for oil companies.

The oil companies are making up those losses now.

Oil companies do not set gas prices. They have no control. ExxonMobil and Chevron combine for like 3% of global oil production and most of it is outside of the United States. They can't control the price.

Once oil gets out of the ground, it's useless unless it is refined. So that means a refiner has to purchase the crude. Most of the time the company getting the oil out the ground and the refiner are not the same. So if the refiner has to pay up for his crude then his final products will cost more. The refiner doesn't control oil prices.

The US produces 12M barrels/day. We have 19M barrels/day refining capacity. We are a net importer of crude. All these refiners that make the gas are purchasing high crude. The monster profits are coming from the upstream when they sell it to the refiner. But again most of big oil production is from overseas and with multiple partners. They will sell the oil at market price, their partners will not allow them to sell cheaper. That's stupid. If you want a home country discount, then that requires price fixing and government subsidies .

ProgN said:

---

TxAgswin said:

---

fantasma said:

---

sicandtiredTXN said:

---

Biden takes office inflation was 1.4%

• Jan 2021 - "When I implement my build back better plan I'm going to turn this economy around. I'm not going to shut down the economy I'm going to shut down the virus" (228,000 covid US deaths) Biden Signs 28 executive orders on Jan 20 2021 including killing the Keystone Pipeline, killed drilling on BLM land, and used his buddies on Wall Street to stop funding drilling anywhere, as well as lifting Trump's sanctions on Russia, and halting Trump's immigration remain in Mexico policy. The average national price for gasoline is at $2.38 for the week of Jan. 19, 2021. 785K crossed the southern border in 2020 65% were immediately deported
• March 2021 Inflation @ 2.6% "This inflation is just transitory, build back better will bring it back down"
• April 2021 Inflation @ 4.2% "This inflation is transitory, give my plan time to show real results"
• May 2021 Inflation @ 5% "We have Supply chain issues affecting the economy, which is why we need to pass build back better" Fuel Avg $2.85
• Jul 2021 Inflation @ 5.4% still blaming supply chain and Trump Fuel avg $2.95
• Nov 2021 Inflation @ 6.8% Biden signs $1.3 trillion "infrastructure" bill that is only actually 23% about infrastructure
• Dec 2021 inflation @ 7% (40 year high) Biden is bragging about saving Christmas. Fuel avg tops $3.00 and 989K dead from COVID Build Back Batter fails in the Senate - 2 million crossed the southern border in 2021 23% were deported.
• Feb 2022 inflation @ 7.9% Biden's blaming Manchin and Senima for killing Build Back Better Fuel avg $3.85
• Mar 2022 Inflation numbers N/A Putin invades Ukraine Fuel avg $4.33 Biden is blaming Putin now and Trump for weakening NATO.

Biden's full of excuses and ZERO answers

---

would add January 2022 Biden: " that's a great asset, more inflation..."

---

You conveniently left out the second half of the clearly sarcastic quote "that's a great asset, more inflation. What a stupid son of a *****".

And, in fairness, it was a stupid question. The guy asked him if he thought inflation was a problem for him politically. I think a "what do you think, dumbass? Yeah, it's a huge ****ing problem." would have been a reasonable answer there.

Also, is lashing out at the media suddenly frowned upon? Are only Republican Presidents allowed to do that? His predecessor did similar **** (usually much worse) in virtually every press conference he held for four years and the Right applauded him. Biden does it once and the Right jumps all over him and says he's losing his mind. Absolute hypocrisy.

---

Nope, I wish every politician would lash out at the media because that means the press is actually doing it's job and pressing politicians.

---

I agree. I think there should be a healthy tension there, and there always has been.

A free press is a critical component of Democracy. That being said, our First Amendment rights go both ways. Just as journalists have the right to attack and press elected officials, elected officials have every right to punch back.

Trump punched back to a comical level. Some of his pressers were freaking hilarious because the guy just has zero filter and it made for great TV. In many ways, that was refreshing and part of his legacy is that he changed that White House press corps culture forever.

Where it gets murky is if he was trying to discredit the media entirely. Controlling the narrative is part of the deal and every administration does it the best they can. It's a full-time job for hundreds of staffers in the West Wing of every administration. If they do such a good job that they essentially gut opposition outlets, they would create de facto state-run media. And state-run media is historically a death nail to Democracy.

Dan Scott said:

---

Oil companies do not set gas prices. They have no control. ExxonMobil and Chevron combine for like 3% of global oil production and most of it is outside of the United States. They can't control the price.

Once oil gets out of the ground, it's useless unless it is refined. So that means a refiner has to purchase the crude. Most of the time the company getting the oil out the ground and the refiner are not the same. So if the refiner has to pay up for his crude then his final products will cost more. The refiner doesn't control oil prices.

The US produces 12M barrels/day. We have 19M barrels/day refining capacity. We are a net importer of crude. All these refiners that make the gas are purchasing high crude. The monster profits are coming from the upstream when they sell it to the refiner. But again most of big oil production is from overseas and with multiple partners. They will sell the oil at market price, their partners will not allow them to sell cheaper. That's stupid. If you want a home country discount, then that requires price fixing and government subsidies .

---

Bingo.

Something tells me you work in oil and gas?

The component left out would be the state-run oil companies in the OPEC cartel. They can definitely manipulate gas prices and often do. No telling what those clowns are going to do with this enormous cut in global supply. The nice thing to do would be to open that faucet up a little. But OPEC rarely does the "nice" thing. They typically like to slap around Russia and Texas. But considering Putin decided to commit economic suicide and Texas is getting fat and happy on WTI barrel prices, they probably won't do anything.

Dems have a way more compliant press than Republicans, but you know that already.

I don't think you know much about O&G, nor have much a leg to stand on here.

TxAgswin said:

---

Bingo.

Something tells me you work in oil and gas?

The component left out would be the state-run oil companies in the OPEC cartel. They can definitely manipulate gas prices and often do. No telling what those clowns are going to do with this enormous cut in global supply. The nice thing to do would be to open that faucet up a little. But OPEC rarely does the "nice" thing. They typically like to slap around Russia and Texas. But considering Putin decided to commit economic suicide and Texas is getting fat and happy on WTI barrel prices, they probably won't do anything.

---

Progressives have essentially eliminated funding for O&G companies by coercing banks to use asinine ESG scoring. Then you throw in a hostile EPA and administration, why in the hell would companies drill more? Because of a patriotic duty? GTFO here with that nonsense. If you owned one of those companies would you put your own capital at risk in this environment? If you say yes, then I hope you don't own a business. Demonizing them as "getting fat" and the squaw proposing a windfall tax only reinforces their decision to not expand. If moderate dems would tell AOC and the progressive caucus to stfu and shove the GND up their asses, then I bet they'd be more inclined to drill more.

TxAgswin said:

---

Dan Scott said:

---

Oil companies do not set gas prices. They have no control. ExxonMobil and Chevron combine for like 3% of global oil production and most of it is outside of the United States. They can't control the price.

Once oil gets out of the ground, it's useless unless it is refined. So that means a refiner has to purchase the crude. Most of the time the company getting the oil out the ground and the refiner are not the same. So if the refiner has to pay up for his crude then his final products will cost more. The refiner doesn't control oil prices.

The US produces 12M barrels/day. We have 19M barrels/day refining capacity. We are a net importer of crude. All these refiners that make the gas are purchasing high crude. The monster profits are coming from the upstream when they sell it to the refiner. But again most of big oil production is from overseas and with multiple partners. They will sell the oil at market price, their partners will not allow them to sell cheaper. That's stupid. If you want a home country discount, then that requires price fixing and government subsidies .

---

Bingo.

Something tells me you work in oil and gas?

The component left out would be the state-run oil companies in the OPEC cartel. They can definitely manipulate gas prices and often do. No telling what those clowns are going to do with this enormous cut in global supply. The nice thing to do would be to open that faucet up a little. But OPEC rarely does the "nice" thing. They typically like to slap around Russia and Texas. But considering Putin decided to commit economic suicide and Texas is getting fat and happy on WTI barrel prices, they probably won't do anything.

---

Do you have any idea at all about what goes into drilling an oil well in Texas? And do you know that, as oil prices go up, so do service costs? New wells drilled 100/barrel easily cost 25-30% more than new drills at 60

No they don't have any idea. I was in this end of the oil business for over 40 years. They only know what liberal media tells them.

Saw this on a rear windshield last week (in bold letters):
"PUCK FIDEN".

Rockdoc said:

---

No they don't have any idea. I was in this end of the oil business for over 40 years. They only know what liberal media tells them.

---

I mean…it's just as easy as turning on a water faucet, right?

DrEvazanPhD said:

---

Rockdoc said:

---

No they don't have any idea. I was in this end of the oil business for over 40 years. They only know what liberal media tells them.

---

I mean…it's just as easy as turning on a water faucet, right?

---

Yeah I wish I had known that. Could have saved myself a lot of work and heartbreak.

TxAgswin said:

---

Dan Scott said:

---

Oil companies do not set gas prices. They have no control. ExxonMobil and Chevron combine for like 3% of global oil production and most of it is outside of the United States. They can't control the price.

Once oil gets out of the ground, it's useless unless it is refined. So that means a refiner has to purchase the crude. Most of the time the company getting the oil out the ground and the refiner are not the same. So if the refiner has to pay up for his crude then his final products will cost more. The refiner doesn't control oil prices.

The US produces 12M barrels/day. We have 19M barrels/day refining capacity. We are a net importer of crude. All these refiners that make the gas are purchasing high crude. The monster profits are coming from the upstream when they sell it to the refiner. But again most of big oil production is from overseas and with multiple partners. They will sell the oil at market price, their partners will not allow them to sell cheaper. That's stupid. If you want a home country discount, then that requires price fixing and government subsidies .

---

Bingo.

Something tells me you work in oil and gas?

The component left out would be the state-run oil companies in the OPEC cartel. They can definitely manipulate gas prices and often do. No telling what those clowns are going to do with this enormous cut in global supply. The nice thing to do would be to open that faucet up a little. But OPEC rarely does the "nice" thing. They typically like to slap around Russia and Texas. But considering Putin decided to commit economic suicide and Texas is getting fat and happy on WTI barrel prices, they probably won't do anything.

---

Why didn't opec turn off the oil when the price collapsed back during Obama's tenure, since per you, they can control the spot price. They were hurting in a bad way.

Fact is, Biden is anti oil. Words and actions matter. His actions and rhetoric have helped to halt production.

Marcus Brutus said:

---

TxAgswin said:

---

Dan Scott said:

---

Oil companies do not set gas prices. They have no control. ExxonMobil and Chevron combine for like 3% of global oil production and most of it is outside of the United States. They can't control the price.

Once oil gets out of the ground, it's useless unless it is refined. So that means a refiner has to purchase the crude. Most of the time the company getting the oil out the ground and the refiner are not the same. So if the refiner has to pay up for his crude then his final products will cost more. The refiner doesn't control oil prices.

The US produces 12M barrels/day. We have 19M barrels/day refining capacity. We are a net importer of crude. All these refiners that make the gas are purchasing high crude. The monster profits are coming from the upstream when they sell it to the refiner. But again most of big oil production is from overseas and with multiple partners. They will sell the oil at market price, their partners will not allow them to sell cheaper. That's stupid. If you want a home country discount, then that requires price fixing and government subsidies .

---

Bingo.

Something tells me you work in oil and gas?

The component left out would be the state-run oil companies in the OPEC cartel. They can definitely manipulate gas prices and often do. No telling what those clowns are going to do with this enormous cut in global supply. The nice thing to do would be to open that faucet up a little. But OPEC rarely does the "nice" thing. They typically like to slap around Russia and Texas. But considering Putin decided to commit economic suicide and Texas is getting fat and happy on WTI barrel prices, they probably won't do anything.

---

Why didn't opec turn off the oil when the price collapsed back during Obama's tenure, since per you, they can control the spot price. They were hurting in a bad way.

Fact is, Biden is anti oil. Words and actions matter. His actions and rhetoric have helped to halt production.

---

They were hoping to deliver a kill shot to frackers. They opened the valve to flood the supply to drive the WTI barrel price below a threshold where unconventional drilling became unprofitable and those drilling operations would have to shut down. It was a risky long-game play and they lost.

And yes, OPEC fixes energy prices by collaborating to manipulate supply. That's not really something people even debate. It's the sole purpose for their existence.

But, whatever. I'm starting to think you guys don't even read my posts.

DrEvazanPhD said:

---

TxAgswin said:

---

Dan Scott said:

---

Oil companies do not set gas prices. They have no control. ExxonMobil and Chevron combine for like 3% of global oil production and most of it is outside of the United States. They can't control the price.

Once oil gets out of the ground, it's useless unless it is refined. So that means a refiner has to purchase the crude. Most of the time the company getting the oil out the ground and the refiner are not the same. So if the refiner has to pay up for his crude then his final products will cost more. The refiner doesn't control oil prices.

The US produces 12M barrels/day. We have 19M barrels/day refining capacity. We are a net importer of crude. All these refiners that make the gas are purchasing high crude. The monster profits are coming from the upstream when they sell it to the refiner. But again most of big oil production is from overseas and with multiple partners. They will sell the oil at market price, their partners will not allow them to sell cheaper. That's stupid. If you want a home country discount, then that requires price fixing and government subsidies .

---

Bingo.

Something tells me you work in oil and gas?

The component left out would be the state-run oil companies in the OPEC cartel. They can definitely manipulate gas prices and often do. No telling what those clowns are going to do with this enormous cut in global supply. The nice thing to do would be to open that faucet up a little. But OPEC rarely does the "nice" thing. They typically like to slap around Russia and Texas. But considering Putin decided to commit economic suicide and Texas is getting fat and happy on WTI barrel prices, they probably won't do anything.

---

Do you have any idea at all about what goes into drilling an oil well in Texas? And do you know that, as oil prices go up, so do service costs? New wells drilled 100/barrel easily cost 25-30% more than new drills at 60

---

I'm well aware that O&G service providers move their pricing around market barrel prices. The elasticity is close to 1:1. So, when I say that Texas is getting fat and happy on WTI barrels, I'm including Haliburton and Schlumberger with Exxon and Chevron. They all benefit from $100+ oil. Chevron is across the street from KBR. Chevron is in Enron's old building. KBR and Haliburton had to split to avoid anti-trust problems. These guys talk to each other. There are no secrets in Houston.

When that barrel price comes back to earth, so will the oilfield service invoices.

Also, I'm not sure how your post has anything to do with my point regarding OPEC.

TheMasterplan said:

---

BusterAg said:

---

When the wind is blowing at night in west Texas, you have been able to buy electricity for negative 98 cents per mwh. That means, if I take your electricity, you pay me 98 cents. The reason was there was a 1 dollar per hour tax credit per mwh at the time. You tell me if you think that is or is not a subsidy.

---

Not arguing or being hostile. All I've read is that they receive "tax credits" which semantically are different than direct subsidies. Can ya'll post the subsidy or plan for this? Googling isn't really helping.

I'd like to know this to keep in my back pocket when discussing these things as I know for a fact that the O&G doesn't receive subsidies but recieves tax breaks. One of which is available to everyone with the domestic manufacturing tax break.

---

O&G get no tax credits. They get deductions of taxes paid. In O&G, you pay taxes on every gallon that comes out of the ground. For wind, the government forgives taxes for every mwh generated.

These wind farms only work because of the clever and highly questionable financial structures that allow the wind farms to sell those tax credits to high paying taxed entities, like international banks. Basically, a JP Morgan will buy a $1 tax credit for $0.80 from a wind farm developer. Without the ability of the developer selling the tax credit, the project is unprofitable, and the tax break is useless. So while Uncle Sam is not directly cutting the developer a check, we are granting them an asset that is transferable to other tax paying entities. The difference between that and a check is only accounting. There is no real economic difference. If the tax credit wasn't transferable, it would only be a tax break, and a different story.

TxAgswin said:

---

Quote:

---

Drill with what funds?

---

Maybe they could fall back on the $200 billion in profits from 2021 (best mark in nearly a decade)? Most are on pace to have record years in 2022, so I'm not sure what you are implying.

---

What ******* did you pull $200 billion from? 2021 profits for the oil and gas industry was $11.2 billion.

I know O&G gets no tax credits. Stop reading every post with a negative outset.

I was referring to solar/wind. Jesus.

captkirk said:

---

---

If true, progs should be lined up against a wall!

Ag87H2O said:

---

The plaque on Biden's desk in the Oval Office should read -

"The buck stops anywhere but here"

The lying jacka** will never admit he along with his fellow Democrats are the problem.

---

"Don't underestimate Joe's ability to **** things up."

LMCane said:

---

BrazosDog02 said:

---

Bigfoot Is Real said:

---

Drill with what funds?

---

That's what Biden leaves out. He's absolutely right that oil companies aren't drilling. He is absolutely right that high oil prices aren't his fault. What he ALLOWS is the implication that the oil companies ARE to blame. They are not. If people had any idea what it takes to develop fields, run a company, put up wells, understand global markets, covid impacts over the past years, etc, etc....they would fully understand why the demand is high and the supply is low. Unfortunately, people are too lazy and/or stupid to understand these things. It is far easier for the clowns on the right to blame our beloved vegetable in chief while putting goofy stickers on gas pumps and for the idiots on the left to blame oil companies and trump. It's just easier to remain completely ignorant of middle school economics and current events than to use critical thinking skills to figure it out.

---

of course high prices ARE his fault. what are you talking about?!
Do YOU REALLY THINK THERE IS AN OIL SHORTAGE HERE IN THE U.S.?? There's not.

his VERY FIRST DAY he ended XL pipeline
There is already a Keystone Pipeline, carrying tar sands oil from Alberta to Texas for refining. The XL was merely an extension of that, and it would STILL not be completed. Tar sands oil is lousy oil for refining into gas.

put pressure on the Israelis not to construct a LNG terminal to Europe
Simply supporting or not supporting the pipeline from Israel to Europe is irrelevant. The country responsible for STOPPING it or not, is Turkey. It's not OUR business.


had his EPA go after oil and gas
Please give SPECIFIC examples of the EPA "going after" O&G. Making them be responsible is not "going after" them. So I am interested SPECIFICALLY in what they did that would prevent oil from being explored and pumped

backs the corporate finance world cutting off loans based on ESG corporate governance scores
You need to learn more about what that is. Backing being environmentally responsible doesn't mean Biden caused oil prices to go up. That's ridiculous. https://www.alva-group.com/blog/what-is-an-esg-score-and-how-is-it-calculated/#:~:text=An%20organisation's%20ESG%20score%20is,financial%20but%20equally%20compelling%20reasons.

stopped drilling on federal lands
ONLY new permits on Federal Land. 90 percent is on PRIVATE land. Previous drilling on Federal land continues.

stopped fracking projects
Same as above on Federal lands. Fracking on Federal lands continues on previously held leases.

rejoined the Paris Climate accords
So? What's that got to do with gas prices going up so quickly? It's not a pie, where if you use green energy, oil and gas gets the short end. It's in ADDITION TO other fossil fuels.

agreed with high taxation policies by the government which adds costs to the price of fuel
Last I heard, the federal gas tax was being considered to be put on hold.

other than Biden actually shooting oil executives on the street- what could an American government do in addition to hurt oil and gas?!?
Talk about "supply and demand", if you had an oil well would you rather pump oil while the prices are low, or when they are high?? That's exactly what's happening now....rigs that were dormant are now pumping again....more oil rigs pumping today than before Biden took office. Has nothing to do with him and everything to do with smart moves by oil exec's.


Trump literally predicted all of this would happen back during the campaign!
HAHAHA, well it trump said it, you can bet it's bull corn. Trusting trump's words?.....you should have learned better by now.

---

captkirk said:

---

---

Quote:

---

Permit sent back because it didn't have Gender Compatible Language.

---

You got to be Freaking Kidding Me.