OPEC+ to cut 2 million barrels a day.

33,319 Views | 599 Replies | Last: 2 yr ago by samurai_science
Squadron7
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Manhattan said:

Squadron7 said:

Quote:

Trump was responsible for the unmitigated disaster that was the COVID response in this country.

Still a Cuomosexual?

If only the whole country could have followed his lead!


Coumo got ran out of town, you people are begging for Trump back while calling for Fauci's execution, that level of cognitive dissonance is unrivaled.

So who...or which country...went down the non-disastrous path that you would have had Trump follow?
Actual Talking Thermos
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Manhattan
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Taiwan, Japan, South Korea.

Or literally do exactly what we did with masks in February and not close small businesses. Force the WFH where possible but not close a small store or restaurant when Home Depot and Lowes are packed with people "working from home"
HollywoodBQ
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ProgN said:

CDUB98 said:

Manhattan said:

OPEC is shooting themselves in the face with this as the longer prices are high, the more the US will produce.

Negative oil prices in 2020 have much more to do with reduced output than anything Biden has done.


And, once again, you show that you have no understanding of what is actually going on. Just regurgitating some talking point you read.
If only OPEC had decided to sell 2 barrels of oil instead of one then $5 gas wouldn't be in our near future.
Here in Los Angeles, I'd take some $5 gas. We're looking at $7 out here.
And to think I just paid $2.99 in Texas a couple weeks ago.
fixer
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Actual Talking Thermos said:




What is your concern?
Red Red Wine
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Do you know how many years it takes from conception to funding to capital expenditures to production?


(EDIT: I love how people try to be witty yet only show their lack of true intelligence on how the world really works. "Isn't Oil Production just an on/off switch like the lights in my house?")
WHOOP!'91
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The EIA says this:

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

Not sure where you got your graph.

It seems pretty clear that the EIA doesn't believe we're producing more now that we were in 2019.

Average monthly production? That sounds like a weasel stat to fool fools. Over the course of four years, Trump's monthly average might have been lower than Biden's in <2 years? Is that what this graph says? I guess they don't account for COVID slowdown.
Nitro Power
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Manhattan said:

Taiwan, Japan, South Korea.

Or literally do exactly what we did with masks in February and not close small businesses. Force the WFH where possible but not close a small store or restaurant when Home Depot and Lowes are packed with people "working from home"


That wasn't trump. You can thank the lib Governors and county judges for that bull***** Oh and mask don't work. It wasn't known it was in the US until March. Maybe a better solution would have been to focus on the virus, rather than a phone call. Try again.
When you fall to your knees and ask God for help, don’t forget to fall back on your knees and say ‘thank you’ when He answers.- Steve Torrence
Actual Talking Thermos
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fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.
Red Red Wine
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Did that include the 1mm barrel per day release from the SPR?

Squadron7
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Manhattan said:

Taiwan, Japan, South Korea.

Or literally do exactly what we did with masks in February and not close small businesses. Force the WFH where possible but not close a small store or restaurant when Home Depot and Lowes are packed with people "working from home"

Could you have picked societies any more homogenous than those three?

Do you really not see the difference culturally? And how that translates to any level of effectiveness here in America?

My God.

Plus, everything you suggested is to be handled at the state and not federal level in our country.
Whistle Pig
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Red Red Wine said:

Did that include the 1mm barrel per day release from the SPR?




No.
Red Red Wine
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Seriously dude. You have NO IDEA how oil production works.

Give it a rest already.
Whistle Pig
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Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.


The "F your feelings" crowd sure has a lot of feelings about oil production and gets mad about facts.
Red Red Wine
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All three of those countries are basically on an island (North/South Korea DMZ).

Not sure what he is trying to prove with those TERRIBLE examples. Yeah, let's shut down a country of 330 million people and CLOSE OUR BORDERS to Mexico and Canada.

Wait a minute.........I actually like this idea. Maybe we should start doing that now to help prevent the next Covid wave!!!!
Rockdoc
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Red Red Wine said:

Seriously dude. You have NO IDEA how oil production works.

Give it a rest already.

None of them do. They pull up a chart and think that's the answer. And Brandon is going around begging for oil. Lol go figure.
fixer
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Ok thanks. I thought you were going somewhere else with that chart.

Squadron7
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Whistle Pig said:

Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.


The "F your feelings" crowd sure has a lot of feelings about oil production and gets mad about facts.

Those industry pros will tell you why it is more complicated than your single bar graph if you'd be willing to ask them....and be willing to listen.

They suspect you are not.
Nitro Power
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Whistle Pig said:

Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.


The "F your feelings" crowd sure has a lot of feelings about oil production and gets mad about facts.


We get upset because trying to educate you and you ilk on the actual facts is like teaching a three year old calculus
When you fall to your knees and ask God for help, don’t forget to fall back on your knees and say ‘thank you’ when He answers.- Steve Torrence
Actual Talking Thermos
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Red Red Wine said:

Did that include the 1mm barrel per day release from the SPR?


No. Also July was apparently the all time highest month for US liquids production.
goatchze
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Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.
Uh, production was around 9 MMbbl/d when Trump took office and hit 13MMbbl/d just before the pandemic at less favorable economics than we have now.

Production today is pretty much exactly the same as when Biden took office, but under much more favorable economic conditions.

This is a great example of using graphs to say what you want them to say, rather than the truth.
Whistle Pig
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Of course it's more complicated, the world price sets the domestic price. And there's little any president can do short of nationalizing the industry or begging OPEC. That's how it's been for 60 years.
Nitro Power
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Whistle Pig said:

Of course it's more complicated, the world price sets the domestic price. And there's little any president can do short of nationalizing the industry or begging OPEC. That's how it's been for 60 years.


Trump never begged them for ***** Gas prices were as low as they had been in a decade.
When you fall to your knees and ask God for help, don’t forget to fall back on your knees and say ‘thank you’ when He answers.- Steve Torrence
fixer
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Whistle Pig said:

Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.


The "F your feelings" crowd sure has a lot of feelings about oil production and gets mad about facts.


I'm sure you were just as engaged in oil market analysis when prices were in the $20-40$ range.
HollywoodBQ
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Squadron7 said:

i-miss-the-republic said:

Birdwatcher said:

We could become less reliant on Saudi Arabia by, I don't know, using more renewable energy and thus using less of their oil.


Where's exactly is all this magic "renewable energy"? The US has about 400 coal fired plants generating 400,000 MW. There are 85,000 wind turbines generating only 1,000 MW. Where do you get the other 399,000 MW? Build 33 MILLION wind turbines?

"You just pay for it!"

- AOC
I'm going to use the California answer for EVs.

"Your apartment complex is just going to put in charging stations"
Red Red Wine
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WRONG

California does not allow drilling off of their coast. Millions of barrels of oil there.

US won't let us drill in ANWAR - billions of barrels of oil (and natgas) there.

US Federal leases: Biden's team pulled them, got sued, re-instated them, then tried to sell more but NO ONE trusts them.

You people don't know SH*T about the oil industry so stop coming in here acting like you do.

It takes YEARS and BILLIONS OF DOLLARS to develop decent sized oil-producing fields. How do I get to the oil, how do I move the oil, how do i refine the oil, how do I explain to morons in the Biden Admin how this works???

If you wanted a barrel of oil from the coast of California or in Federal lands in Alaska: answer me this - how many days would it take from the word "go" to the actual production of a barrel of oil?

also, when oil is sitting at $40 a barrel how many wells are turned down or drilled and capped for later production pulls????? A lot. When oil hits $100/barrel, you have capacity already drilled and turned on thus domestic oil production goes UP. DUH.

But, go look at your own charts. Oil under Obama was around 7MM/day. When pro-oil, energy independent Trump came in oil production went up almost 50%!!!! Now with oil even HIGHER in price all we are getting is a lame 5% increase in oil production????

Please tell me you are smart enough to figure this out on your own. Good Lord you guys need to go read more books that have actual facts in them versus the opinions you are fed by your Lord's of the Left.
Ag87H2O
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Nitro Power said:

Manhattan said:

Rockdoc said:

richardag said:

Rockdoc said:

Manhattan said:

Rockdoc said:

Manhattan said:

Rockdoc said:

Manhattan said:

OPEC is shooting themselves in the face with this as the longer prices are high, the more the US will produce.

Negative oil prices in 2020 have much more to do with reduced output than anything Biden has done.
False statement.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

The sharp fall wasn't the inauguration of Biden…
This is Biden's baby. Sorry
Sorry the data doesn't align with your feels.
Post all you want. Everybody knows Biden is the one killing our domestic oil industry
President Biden succinctly, unequivocally and without any shame boldly announced he would eliminate the oil and gas industry. He is keeping his promise. Anyone who voted for any Democratic candidate should have known this was going to happen.

Yes and we have a few posters that just keep lying about it.


That's the thing he hasn't done anything besides deny some federal permits and leases, nothing that would be affecting production today.
EPA regulations and red tape have nothing to do with the cost of drilling right?
This, and of course encouraging strict ESG policies and making it a political liability for lenders to finance O&G projects won't/doesn't have any impact at all, right?

If the sycophants on the left thing creating a hostile business environment won't eventually impact how an industry reacts and performs then they are either dumb or dishonest. Or maybe both.
Betoisafurry
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Whistle Pig said:

Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.


The "F your feelings" crowd sure has a lot of feelings about oil production and gets mad about facts.

A made up chart is not a fact. We know because we actually WORK for a living unlike you lazy worthless moochers.
HollywoodBQ
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fullback44 said:

Ive been in the O&G business for a long long time, its obvious when people like this Manhatten guy doesnt know what they are talking about...

my take is that OPEC wants to see prices stay high or even go up at this point, they dont really care about the US elections,
The two bolded statements appear to be in conflict with each other.
Manhattan
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Only off by 2.5mm barrels, or 35% lmao.
Rockdoc
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Red Red Wine said:

WRONG

California does not allow drilling off of their coast. Millions of barrels of oil there.

US won't let us drill in ANWAR - billions of barrels of oil (and natgas) there.

US Federal leases: Biden's team pulled them, got sued, re-instated them, then tried to sell more but NO ONE trusts them.

You people don't know SH*T about the oil industry so stop coming in here acting like you do.

It takes YEARS and BILLIONS OF DOLLARS to develop decent sized oil-producing fields. How do I get to the oil, how do I move the oil, how do i refine the oil, how do I explain to morons in the Biden Admin how this works???

If you wanted a barrel of oil from the coast of California or in Federal lands in Alaska: answer me this - how many days would it take from the word "go" to the actual production of a barrel of oil?

also, when oil is sitting at $40 a barrel how many wells are turned down or drilled and capped for later production pulls????? A lot. When oil hits $100/barrel, you have capacity already drilled and turned on thus domestic oil production goes UP. DUH.

But, go look at your own charts. Oil under Obama was around 7MM/day. When pro-oil, energy independent Trump came in oil production went up almost 50%!!!! Now with oil even HIGHER in price all we are getting is a lame 5% increase in oil production????

Please tell me you are smart enough to figure this out on your own. Good Lord you guys need to go read more books that have actual facts in them versus the opinions you are fed by your Lord's of the Left.

Good post. Those guys are just here because there's an election coming up. They obviously know nothing about the oil business. Not worth taking time to try to educate them. They won't listen anyway. They have their talking points.
fullback44
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Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.
depends where this data comes from? is this correct? But in reality, cutting oil production on public lands only increases production on private lands in the US. So if a president wants to limit production on public land, that still does not change the demand situation, just drill more on private lands.. its just a political talking point.

With horizontal drilling and fracking, there is no reason for production to be reduced in the US regardless of who is president, the technology is there and production should easily always go up as long as the demand is there.

The EU is going to cause winter demand for diesel to go up, a lot of that production will be from US refineries. If the US is limiting production this winter; I would think its more geared towards the EU than US.. maybe the US wants to teach the EU a lesson about having strong energy ties with Russia... Im surprised that Biden/Dems would do this to his buddies over in the EU.. there are lots of things us peasants dont know thats for sure
Manhattan
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If Biden was bad for the US O&G industry wouldn't OPEC temporarily tank prices to keep Dems in charge?
Whistle Pig
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Betoisafurry said:

Whistle Pig said:

Actual Talking Thermos said:

fixer said:

Actual Talking Thermos said:




What is your concern?
All the talk of Biden hamstringing oil independence seems questionable.


The "F your feelings" crowd sure has a lot of feelings about oil production and gets mad about facts.

A made up chart is not a fact. We know because we actually WORK for a living unlike you lazy worthless moochers.


You can recreate the data table for yourself if your feelings tell you it's "made up".

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M
Definitely Not A Cop
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Definitely Not A Cop said:

Manhattan said:

Definitely Not A Cop said:

Manhattan said:

Rockdoc said:

richardag said:

Rockdoc said:

Manhattan said:

Rockdoc said:

Manhattan said:

Rockdoc said:

Manhattan said:

OPEC is shooting themselves in the face with this as the longer prices are high, the more the US will produce.

Negative oil prices in 2020 have much more to do with reduced output than anything Biden has done.
False statement.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

The sharp fall wasn't the inauguration of Biden…
This is Biden's baby. Sorry
Sorry the data doesn't align with your feels.
Post all you want. Everybody knows Biden is the one killing our domestic oil industry
President Biden succinctly, unequivocally and without any shame boldly announced he would eliminate the oil and gas industry. He is keeping his promise. Anyone who voted for any Democratic candidate should have known this was going to happen.

Yes and we have a few posters that just keep lying about it.


That's the thing he hasn't done anything besides deny some federal permits and leases, nothing that would be affecting production today.


You never responded to my question about trump being responsible for Covid lockdowns after you claimed he was responsible for negative oil prices? Why?


Trump was responsible for the unmitigated disaster that was the COVID response in this country.


That's not answering the question. You claimed that production fell due to his leadership. Production did fall after the lockdowns decreased demand. Was trump responsible for COVID lockdowns?


Asking for a third time, you seem to have missed this again.
 
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