OPEC+ to cut 2 million barrels a day.

33,604 Views | 599 Replies | Last: 2 yr ago by samurai_science
Nitro Power
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Birdwatcher said:

Congress just passed a historic climate bill. Now is the time to push forward with renewables, not go backwards.
Sounds good. But before I am fully convinced, please tell me a renewable source of energy that is readily available and currently in mass production (excludes nuclear because there is not near the capacity currently), that will even meet our current demand. What about when all these electric cars hit the grid? Speaking of electric cars, what are we going to do with all of those batteries in 5+ years? What is the plan for recycling them? I look forward to your response.
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
Teslag
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Birdwatcher said:

Congress just passed a historic climate bill. Now is the time to push forward with renewables, not go backwards.

How to say you suck at math without saying you suck at math
HollywoodBQ
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Beat40 said:

Birdwatcher said:

Congress just passed a historic climate bill. Now is the time to push forward with renewables, not go backwards.
No. We should be using all of our resources to put us in the best position. Fossil fuels, natural gas, nuclear and renewables.

A portfolio approach as opposed to an eggs all in one underdeveloped basket.
Here in California, we're all in on EVs so... I guess we missed the diversity concept.
fixer
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Oil markets largely shrugging this off today because of crazy upswing front running this cut last two days.

However the importance is that the Saudis and opec are sending message very clearly that they are going to support oil prices higher with production cuts.

They will likely cut again as most of the opec countries were already under producing.

This is a fecal sandwich: opec is supporting oil prices actively while the fed is trying to crush inflation with stronger dollar and interest rates.

Meanwhile most oil company boards are now fully infected with esg and don't really care to drill. They are using free cash flow to make their operations green.

Loosening the regulatory space would alleviate only some of this constraint and Biden won't do this.

If China comes back by scaling back on zero covid oil is going to be the central issue and the king pin of economic considerations .

This means opec is in control , not the fed.

richardag
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HumpitPuryear said:

Beat40 said:

Last estimate I saw was 1MM per day.

OPEC looking out for themselves. It's a shame the US is so entrenched in this green dogma that we can't look out for ourselves.
That was before the Biden administration went to the Saudis on their knees. The sheiks said "Oh WTH, let's make it 2MM."
I would imagine they are announcing these cutbacks after they began adjusting their financial portfolios.
Among the latter, under pretence of governing they have divided their nations into two classes, wolves and sheep.”
Thomas Jefferson, Letter to Edward Carrington, January 16, 1787
Hammerly High Dive Crips
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Liberalism is a god forsaken cancer.
Agnes Moffitt Rollin 60's - RIP Casper and Lil Ricky - FREE GOOFY AND LUCKY!
javajaws
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OPEC knows the US won't do jack for the next 2 years at least to increase supply so why not? It'll increase their profits greatly and that more than anything else will make their economies grow while everyone else's shrinks.

It's the perfect move for them. And they owe this opportunity to the Democrats to which they have to pay absolutely nothing for.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Ben Franklin
will25u
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Biden has also drained the SPR by about 50%. From just under 700 million barrels to ~350 million barrels.


"We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution."

- Abraham Lincoln
Birdwatcher
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Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.
HollywoodBQ
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I should probably go fill up with some $7 gas before the prices go any higher.

Hopefully we can at least get to $10 or $12 before the election.
aggietony2010
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.


Citation needed.

No, Greta Thunberg is not gonna sleep with you.
stallion6
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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.
So stupid and with friends.
fixer
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So will it now be " Saudi price hike"?
No Spin Ag
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fixer said:

Oil markets largely shrugging this off today because of crazy upswing front running this cut last two days.

However the importance is that the Saudis and opec are sending message very clearly that they are going to support oil prices higher with production cuts.

They will likely cut again as most of the opec countries were already under producing.

This is a fecal sandwich: opec is supporting oil prices actively while the fed is trying to crush inflation with stronger dollar and interest rates.

Meanwhile most oil company boards are now fully infected with esg and don't really care to drill. They are using free cash flow to make their operations green.

Loosening the regulatory space would alleviate only some of this constraint and Biden won't do this.

If China comes back by scaling back on zero covid oil is going to be the central issue and the king pin of economic considerations .

This means opec is in control , not the fed.




When you say companies are infected with ESG and don't care to drill, do you mean they could be drilling more right now?
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
Adverse Event
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How does the lack of oil production and a relatively antagonistic OPEC affect the value of the Petrodollar?

Anyone?
Urban Ag
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HollywoodBQ said:

Urban Ag said:

Yellerjacket said:

Birdwatcher said:

Congress just passed a historic climate bill. Now is the time to push forward with renewables, not go backwards.
What "renewables" do we currently have that will free us from Saudi oil?

Come on man, you know what renewables are. It's all that magical stuff that we have to expend ungodly amounts of fossil fuels on in order to mine, refine, and transport the materials to make it work, creating new and improved environmental disasters. And it doesn't really work that well or at night or when there is no wind.

You know, renewables.
Don't forget the bird deaths at California's massive solar farm near the Nevada border.

The one that requires a natural gas engine to start the boiler every morning.
in addition to the Condor Choppers? Outstanding.

Chop chop chop



fixer
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.


This reads like it was written by my ceo and I work for a major.

That is how far up the creek we are all.
HollywoodBQ
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.
It's 6 years now?

Personally, I'm still waiting for that new Ice Age they promised us in the 1970s.
Yukon Cornelius
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Why do democrats believe buying more oil from overseas instead of drilling it ourselves is a reduction in consumption?
will25u
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"We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution."

- Abraham Lincoln
HollywoodBQ
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aggietony2010 said:

Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.


Citation needed.

No, Greta Thunberg is not gonna sleep with you.
She's of age now. Is she doing Only Fans yet?
fightingfarmer09
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Biden could secure the midterms and reelection by doing a 180 and promoting domestic production.
Urban Ag
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HollywoodBQ said:

I should probably go fill up with some $7 gas before the prices go any higher.

Hopefully we can at least get to $10 or $12 before the election.


jrrhouston98
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.
You have to be a troll. Nobody could possibly be this stupid.
Ellis Wyatt
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Birdwatcher said:

Solar and wind are what we urgently need.
We have the energy we need right here.

We do need to tell morons to sit down and shut up and avoid voting for Chinese puppets. I am doing my part. You?
Yukon Cornelius
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.


Solar and wind have horrible energy efficiency. Crude is oil is insanely efficient in regards to how much energy it takes to get how much energy it provides. Coal is like a 1 to 30. Really good. Wind is like a 1 to 7. Really bad.


Bottom line tho, there is a direct correlation between personal freedoms and energy efficiency. The more efficient an energy is the more freedoms individuals have. This is why we are seeing REGRESSION in energy forms.


For a long time in human history it took human energy to do things. Ie rowing a boat. It took a large number of slaves to row a bigger boat. That means there will fundamentally be fewer free people and more slaves/serfdom types.

Then we have the invention of sails. You could harness the wind energy. Which was more efficient than human energy and thus less people required to power the boat. More individual freedoms in society.

Look at modern times a single guy can operate a big boat with a Diesel engine. Requires 0 slaves/serfdom type people.

But now we are regressing, by design, back to wind energy.

Once everyone switches to electric cars they will say power grid not strong enough. No personal vehicles. Use government bus routes.
fixer
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No Spin Ag said:

fixer said:

Oil markets largely shrugging this off today because of crazy upswing front running this cut last two days.

However the importance is that the Saudis and opec are sending message very clearly that they are going to support oil prices higher with production cuts.

They will likely cut again as most of the opec countries were already under producing.

This is a fecal sandwich: opec is supporting oil prices actively while the fed is trying to crush inflation with stronger dollar and interest rates.

Meanwhile most oil company boards are now fully infected with esg and don't really care to drill. They are using free cash flow to make their operations green.

Loosening the regulatory space would alleviate only some of this constraint and Biden won't do this.

If China comes back by scaling back on zero covid oil is going to be the central issue and the king pin of economic considerations .

This means opec is in control , not the fed.




When you say companies are infected with ESG and don't care to drill, do you mean they could be drilling more right now?


Yes. The second part of that explains why.

There is continuous dis incentive to getting huge drilling plans and expansions going in favor of getting operations green.

Oil companies are transitioning ( el oh el) to carbon management.

HowdyTexasAggies
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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.


correct, you dont know.
AgNav93
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Looks like the Saudis are about to give the world a look at what a post fossil fuel world looks like. Good for them.
CDUB98
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Some village is missing their idiot.
policywonk98
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Seabreeze said:

It's funny you think the money in these bills actually go to the things they write them for.



My working theory is that the Democrat congress employ the same click bait headline writers employed by the MSM to write the titles of their bills.
Hammerly High Dive Crips
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.
You are either a young naive and brainwashed student/recent grad who hasn't entered the real world and has no idea how it works....or an HR Exec for a fortune 500 company making solid six figures. There is no in between. I am leaning towards the former though.
Agnes Moffitt Rollin 60's - RIP Casper and Lil Ricky - FREE GOOFY AND LUCKY!
Nitro Power
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.


I see you didn't not respond to my inquisition. In regard to wind power. How stable / reliable is it. What are the environmental ramifications? What is the lifespan of the blades? Are they able to be recycled?
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
richardag
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.
Earth temperatures
Graph of Earth's temperatures (note: much of this is based on extrapolation and modeling)


What you and the climate change/global warming disciples do not understand is that every suggestion concerning CO2 reduction is like a fart in the wind.

We currently live in a short lived cold period in the history of the planet.

Among the latter, under pretence of governing they have divided their nations into two classes, wolves and sheep.”
Thomas Jefferson, Letter to Edward Carrington, January 16, 1787
zoneag
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Birdwatcher said:

Solar and wind are what we urgently need.
America needs projects and goods budgeted based on emissions impact. The American corporations (and the public) should be put on CO2 budgets for nonessentials, so we have more CO2 space left over to construct renewables as fast as we can.
We are 6 years out from cascading tipping points. The hotter it gets, the faster we get to "in your lifetime" effects. The climate is already screwed. How much worse it gets is up to us.


We've already passed lots of "tipping points" that shrill, irrational leftists have been shrieking about for decades. You believe in fairy tales. How much worse it gets will be determined by how quickly power can get wrestled away from the America hating left.
 
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