What don't you understand about Keystone increasing crude oil supply by a meager 1% and as the leading oil producer in the world, we don't need to drill in wildlife refuge.
Nat'l average gasoline now..............
- Thread starter HJCane
- Start date
Oil prices began to rise as nations emerged from lockdowns and OPEC agreed to major cuts in rude oil production.
You'd think this would be common knowledge among those you're talking to. Its literally economics 101.
The main reason for high gas prices is simple, I still don’t expect @miamimike or @Raoul2 to grasp it.
If you don’t want to see something you won’t.
The Biden regime took actions to reduce the supply.
They canceled leases to drill on federal land, they canceled leases to drill in ANWR and other areas in Alaska. and increased the cost of the permitting process.
In the longer term Biden canceled the Keystone XL pipeline and convinced banks that lending to the petroleum industry is not a good idea because the industry will be gone in the future.
We are now producing 1.5 million fewer barrels of oil a day than when Biden took office.
We went from energy independence, to giving the Middle East (people who hate us) a major say in our safety and prosperity.
If you don’t want to see something you won’t.
The Biden regime took actions to reduce the supply.
They canceled leases to drill on federal land, they canceled leases to drill in ANWR and other areas in Alaska. and increased the cost of the permitting process.
In the longer term Biden canceled the Keystone XL pipeline and convinced banks that lending to the petroleum industry is not a good idea because the industry will be gone in the future.
We are now producing 1.5 million fewer barrels of oil a day than when Biden took office.
We went from energy independence, to giving the Middle East (people who hate us) a major say in our safety and prosperity.
Don't care. I do care about our Country and it's citizens and it's a SHIT show right now with your people at the helm.
OWN IT!
Really? Every country is looking to lower their dependence on fossil fuels?
Yeah lets lower our dependance on fossil fuels PREMATURELY. Can't wait for the rolling blackouts they are predicting with the next heat wave. You guys are INSANE.
Yeah laugh
Hot summer could lead to rolling blackouts in Indiana
People may be staying at home this summer. However, the power may not be there when people need it the most this summer.
fox59.com
California Faces Summer Blackouts from Climate Extremes
Energy planners are working to increase the grid’s reliability to keep the power on during droughts, wildfires and heat waves
.
YEAH REAL FUNNY RIGHT RIGHT Clown
Chart from US Energy Information Agency shows gas prices immediately after Biden elected. Sorry.
Except Blue States were still on lockdown for many months after the election and liberal countries like Canada.
Try again fool.
But they're all out of lockdown now, which corresponds to the long term trajectory of rising prices. Same thing applies to the rest of the world.
So who is the fool again ?
You must've been hibernating on an asteroid when the market tanked due to the pandemic in 2020.
More of your alternative reality, too bad for you only a minority of true believers in the democrat party are with you.
You‘ve lost a majority of independents , Hispanics, and African American support is way below traditional numbers.
So stay in your alternate reality, because politicly reality sucks for the democrats and the Biden regime.
But that’s not what happened. The only thing he took away was federal wildlife lands and some of the lands that had been designated for exploration and had not been explored for years. The reason they had not is bc of the pandemic and the Russia fight with opec back in Jan 2022, the oil companies stopped exploring to save money bc no one around the world was using gas. They slowed to built production back up bc they were saving money and recouping losses suffered from 2020. It’s a worldwide phenomenon and drilling for more oil here wouldn’t really impact the price bc everything drilled here gets put up on the world market and has to be bought back at world market prices. The only thing drilling more oil here does is make American companies more rich! You can say also it produces more jobs but it doesn’t lower the price of oil.
We’ve been the leading oil producer in the world now since 2013. Prices are still high…
Oil industry insider exposes Biden admin's incompetence, says they were 'shocked to learn' basic fact about production | Blaze Media
The Biden administration allegedly thought oil and gas producers could drill on demand, but were "shocked to learn" that is not how oil production actually works.What are the details?According to the Financial Times, the White House has been pleading with oil producers to boost production as...
www.theblaze.com
Wouldn't have fixed a thing because oil companies DO NOT SET THE MARKET PRICES and if you don't set the price then there is NO WAY you can gouge.
Wrong.
The Biden Administration's impact on oil and gas
Energy Alert
Sustainability and Environmental, Social and Governance Alert
- Share this
After merely one month in office, the Biden Administration has already had a profound impact on the oil and gas industry. Having promised to prioritize climate change on the campaign trail, President Biden has taken swift action, signing executive orders aimed at everything from curbing emissions to environmental justice.
While the Biden Administration’s 60-day halt on new oil and gas leases on federal lands and the cancellation of the Keystone XL Pipeline have received the majority of press coverage, the Administration’s actions have also had both direct and indirect impacts on oil and gas companies. These actions include: (1) an order directing federal agencies to eliminate subsidies for fossil fuels; (2) reversing the Trump Administration’s rollback on methane regulations; and (3) staffing the SEC in preparation to mandate ESG and climate disclosures. While these changes primarily aim to reduce the nation’s carbon footprint, they will also add an additional layer of regulations for oil and gas operations and will sharpen public attention on oil and gas companies.
- Stop maintaining shipping lanes on rivers. The federal government spends over $700 million each year constructing and maintaining shipping lanes on rivers, which are often used for the transportation of oil and gas. Under President Biden, the federal government may require companies, including heavy users such as oil and gas companies, to fund all or a portion of the construction and maintenance of these shipping lanes.
Conclusion
President Biden has thus far followed through on his campaign promise to prioritize climate change. While his actions to pause drilling on federal land and reenter the Paris Climate Accord have received much attention, his early executive orders, hiring decisions and public statements indicate that even greater change is coming to the oil and gas industry. While many of the Biden Administration’s regulatory changes will take time to implement, oil and gas companies should begin preparing now for their likely arrival.Thats just a few moves in his first couple weeks.
“No,” Biden flatly answered. “We would work it out; we would make sure it’s eliminated and no more subsidies for either of those. No more fossil fuels.”
In case that wasn’t clear enough, two months later he told a young supporter to look him in the eyes as he promised her he would “end fossil fuels.”
“Kiddo, I want you to just take a look,” Biden said to her as he (rather creepily) grabbed her hand and leaned into her. “I want you to look in my eyes. I guarantee you, I guarantee you we’re going to end fossil fuels.”
And ABC News report
Emission reductions from a permanent leasing ban would be relatively small -- about 100 million tons (91 million metric tons) annually, or less than 1% of global fossil fuel emissions, according to a study by a nonprofit research group.
But environmentalists and others who want more aggressive action against climate change say a ban would nudge the economy in a new direction. Biden wants to substitute fossil fuel production and consumption with policies that promote renewable energy on public lands, such as wind and solar power.
“The federal government is a huge player here. The government has market power,” said attorney Max Sarinsky with New York University Law School’s Institute for Policy Integrity. “If you restrict the supply (of oil and gas), you alter the market and you create a better environment for more sustainable fuels.”
Emission reductions from a permanent leasing ban would be relatively small -- about 100 million tons (91 million metric tons) annually, or less than 1% of global fossil fuel emissions, according to a study by a nonprofit research group.
But environmentalists and others who want more aggressive action against climate change say a ban would nudge the economy in a new direction. Biden wants to substitute fossil fuel production and consumption with policies that promote renewable energy on public lands, such as wind and solar power.
“The federal government is a huge player here. The government has market power,” said attorney Max Sarinsky with New York University Law School’s Institute for Policy Integrity. “If you restrict the supply (of oil and gas), you alter the market and you create a better environment for more sustainable fuels.”
Source: ABC News
You libs thats who.
There is no one with a brain in the investment community that doesn't recognize the HUGE mistakes made by Biden except you libs.
And Powell at the FED is right with him.
He said he would destroy fossil fuel industry which everyone says changed the psychology of the oil markets.
They’re hanging out with the fifty retired intelligence officers who claimed Hunter’s laptop was Russian disinformation.
What does this have to do with the global price of oil?Wrong.
The Biden Administration's impact on oil and gas
Energy Alert
Sustainability and Environmental, Social and Governance Alert
18 February 2021By:
- Share this
After merely one month in office, the Biden Administration has already had a profound impact on the oil and gas industry. Having promised to prioritize climate change on the campaign trail, President Biden has taken swift action, signing executive orders aimed at everything from curbing emissions to environmental justice.
While the Biden Administration’s 60-day halt on new oil and gas leases on federal lands and the cancellation of the Keystone XL Pipeline have received the majority of press coverage, the Administration’s actions have also had both direct and indirect impacts on oil and gas companies. These actions include: (1) an order directing federal agencies to eliminate subsidies for fossil fuels; (2) reversing the Trump Administration’s rollback on methane regulations; and (3) staffing the SEC in preparation to mandate ESG and climate disclosures. While these changes primarily aim to reduce the nation’s carbon footprint, they will also add an additional layer of regulations for oil and gas operations and will sharpen public attention on oil and gas companies.
- Stop maintaining shipping lanes on rivers. The federal government spends over $700 million each year constructing and maintaining shipping lanes on rivers, which are often used for the transportation of oil and gas. Under President Biden, the federal government may require companies, including heavy users such as oil and gas companies, to fund all or a portion of the construction and maintenance of these shipping lanes.
Conclusion
President Biden has thus far followed through on his campaign promise to prioritize climate change. While his actions to pause drilling on federal land and reenter the Paris Climate Accord have received much attention, his early executive orders, hiring decisions and public statements indicate that even greater change is coming to the oil and gas industry. While many of the Biden Administration’s regulatory changes will take time to implement, oil and gas companies should begin preparing now for their likely arrival.
Thats just a few moves in his first couple weeks.
oil companies are having record profits, if the price rose bc of its more expensive to drill for oil in America why are they making record profits? They should be making record revenue not profit.
February 2013- price of oil by the barrel was
$116 per. The price of gas was $3.53 a gallon
June 2022- price of oil is $118 per barrel the price of gas is $5.06
you tell me what the issue is? Btw simple google search to get this info
So if you did a simple GOOGLE search as you say then u would know that Exxon Mobil and the other oil companies are in numerous businesses. You would also find out that although Exxon had 23 billion in profits last year and paid well over 7 billion in taxes that the year before they LOST 22 billion dollars due to covid.
That's called RISK. And for RISK we get REWARDS>
Lol. President of one country says something and all the sudden companies react to the point that now they are generating unprecedented profits. Profits they’ve never enjoyed before.
maybe the oil lobyist and the fossil fuel industry should work to get democrats in the White House don’t ya think?
ExxonMobil 2021 profit 23 Billion 2020 profit LOSS OF 22.4 BILLION
Chevron 2021 profit 15.6 BILLION 2020 LOST 5.6 BILLION
So you point out the gain but not the losses?
Did you know they employ 63,000 people worldwide just Exxon?
- Generates $48 billion of cash flow from operating activities, the highest level since 2012, more than covering capital investments, debt reduction, and dividend
- Reduces structural costs by an additional $1.9 billion, increasing total savings to nearly $5 billion versus 2019
- Strengthens balance sheet to pre-pandemic levels by paying down $20 billion in debt
- Expects to achieve 2025 emission-reduction plans four years ahead of schedule
- Aims to achieve net zero Scope 1 and 2 greenhouse gas emissions for operated assets by 2050, with plans to achieve net zero in the Permian Basin by 2030
You libs have ZERO understanding about American Business. It really is pathetic.
Lol. They didn’t LOSE money they simply made less. And they got a lot of that money in PPP
and paying 7billion in taxes when you generate 30 billion in profits is 23% tax rate. That’s lower than most Americans pay in taxes. There’s risk in any business. But this has been the most profitable 10 years for Exxon in their history. They should be willing to risk a bit
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Even if what the dems on here were saying is hypothetically true, what’s brandon’s handlers solution? Let me guess, blame the predecessor and make more excuses.
say what you want about trump but he got shit done and made it very clear who was in charge.
when it comes to the next election, we all have a simple choice. Do you want the party of constant complaining and excuses and or do you want the party that’s going to come up with solutions?
say what you want about trump but he got shit done and made it very clear who was in charge.
when it comes to the next election, we all have a simple choice. Do you want the party of constant complaining and excuses and or do you want the party that’s going to come up with solutions?
It is the President’s fault also, President Putin and his war that is. But these guys on here will blame Biden if it rains on their picnic.
