gas prices

Teetime wrote:

tps wrote:The biden regime created a US market environment that is pro green energy. He issued executive orders that are anti-oil. US companies are reluctant to invest capital in drilling for oil in America because of the environment creation by the biden clown show. That means US companies have to import more oil. It also means there is less oil in the market.

You have been getting some really bad information.

US oil production dropped way off in May of 2020 and has been edging up since then. I don't know which Trump policy caused that big drop in oil production, but maybe you can ask your source.

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

During the Biden administration drilling permits have been flying out the door. Environmentalists are not happy about it, but it's a fact.

https://biologicaldiversity.org/w/news/press-releases/new-data-biden-slays-trumps-first-year-drilling-permitting-by-34-2022-01-21/

From that eia.gov information you might note that from January of 2009 to January 2017 US oil production rose from 5.239 million barrels a day to 8.873 million or an increase of 69% during the Obama years. From January 2017 to January 2021 the increase was 24% to 11.056 million barrels per day during the Trump years.

Currently 11.567 million barrels a day are being produced.  

Such a strawman clown show argument. Hmmmm I wonder what happened in 2020 that affected oil production. You fit right in with the biden clown show. Maximum tds

Dusty you might be right in that we might hit $5.00 a gallon in a few weeks. We’re hitting $125 a barrel now. Prospects of the West putting an embargo on Russian oil is driving this.

Tee, are you suggesting that Biden's policies have nothing to do with the large increase in oil/gas prices in the United States?  It seems like that is the argument you are trying to make.  

Now, I think gas prices will hit $5.00 by Friday. Oil futures are now trading at $200 a barrel in May. Many predict we will see $200 by the end of the month.

dusty7 wrote:Tee, are you suggesting that Biden's policies have nothing to do with the large increase in oil/gas prices in the United States?  It seems like that is the argument you are trying to make.

YES! That's exactly what I'm saying.

The US oil production is down just slightly from an all time high. That slight drop was driven by the recession during which demand for oil dropped and so producers slowed down. None of that had anything to do with Biden policies that promote clean energy alternatives.

The slight drop is evaporating as US oil producers ramp up to meet demand. Oil is a global market. The US drop in production represents a tiny sliver of worldwide daily oil usage. Oil/Gas prices are not higher here in the US than they are in other free market countries that don't subsidize fuel. There are variations from country to country that are largely based on the taxes charged by each country.

The "Biden policies" are being blamed for a worldwide fuel shortage (that was triggered by the Covid recession) by political opportunists in this country that want to bury the Green Energy crowd. Those opportunists in this country are funded by big oil companies. There are no oil industry experts in Europe or Saudi Arabia that honestly point to Biden policies as the cause of oil increases, those are all republican politicians who are puppets of the oil companies.  

Do Biden policies have any effect at all on the world wide oil market? NO! Especially since the Biden administration hasn't been following the Biden policies and has issued a drilling permit to anyone who asks.

tps wrote:Such a strawman clown show argument. Hmmmm I wonder what happened in 2020 that affected oil production.  You fit right in with the biden clown show.

That wasn't an argument at all. I was demonstrating how stupid it is to blame the president in office for oil production changes or even price changes.
Trump had nothing to do with the drop in US oil production that happened during his term in office.

The same with Biden, except oil production has INCREASED during the Biden term.

Political speech making does not drive US oil production.

tps wrote:Maximum tds

Says the "Let's go Brandon" poster boy.

i've never seen this happen before. i find it very strange. on friday, gas was $4.19 in springfield, jacksonville, beardstown, pleasant plains and virginia. i've never see all these places have the exact same prices at the same time.

Teetime wrote:

dusty7 wrote:Tee, are you suggesting that Biden's policies have nothing to do with the large increase in oil/gas prices in the United States?  It seems like that is the argument you are trying to make.

YES! That's exactly what I'm saying.

The US oil production is down just slightly from an all time high. That slight drop was driven by the recession during which demand for oil dropped and so producers slowed down. None of that had anything to do with Biden policies that promote clean energy alternatives.

The slight drop is evaporating as US oil producers ramp up to meet demand. Oil is a global market. The US drop in production represents a tiny sliver of worldwide daily oil usage. Oil/Gas prices are not higher here in the US than they are in other free market countries that don't subsidize fuel. There are variations from country to country that are largely based on the taxes charged by each country.

The "Biden policies" are being blamed for a worldwide fuel shortage (that was triggered by the Covid recession) by political opportunists in this country that want to bury the Green Energy crowd. Those opportunists in this country are funded by big oil companies. There are no oil industry experts in Europe or Saudi Arabia that honestly point to Biden policies as the cause of oil increases, those are all republican politicians who are puppets of the oil companies.  

Do Biden policies have any effect at all on the world wide oil market? NO! Especially since the Biden administration hasn't been following the Biden policies and has issued a drilling permit to anyone who asks.

Then why can't the US use those permits and cut off trade with Russia? We can overcome the barrels we get from Russia almost immediately. Why are these companies not doing that? Why is Biden not appealing to America producers to ramp up production? Obviously they have the permits to do so why can't we do that right now?

Why didntjr US even depend on Russia for oil in the first place? We have plenty here so why not just become dependent on ourselves? I guess we are now in talks with Venezuela for oil. Just trading one dictator for another.

Teetime wrote:

tps wrote:Such a strawman clown show argument. Hmmmm I wonder what happened in 2020 that affected oil production.  You fit right in with the biden clown show.

That wasn't an argument at all. I was demonstrating how stupid it is to blame the president in office for oil production changes or even price changes.  
Trump had nothing to do with the drop in US oil production that happened during his term in office.

The same with Biden, except oil production has INCREASED during the Biden term.

Political speech making does not drive US oil production.

tps wrote:Maximum tds

Says the "Let's go Brandon" poster boy.

look around. i can only assume you haven't been paying attention. the world is not in the best shape. the leader of the free world (i use that term loosely) is a clown and what we are seeing is HIS show. 81 million got tickets to attend. all this happened in a little over a year. we have 2+ more years of this shit....it's going to get worse. 

the markets prove it. not media, not me, not you, not politicians - the markets don't lie.
let's go bran-don

dusty7 wrote:Then why can't the US use those permits and cut off trade with Russia?  We can overcome the barrels we get from Russia almost immediately.  Why are these companies not doing that? Why is Biden not appealing to America producers to ramp up production?  Obviously they have the permits to do so why can't we do that right now?

Why didntjr US even depend on Russia for oil in the first place?  We have plenty here so why not just become dependent on ourselves?   I guess we are now in talks with Venezuela for oil.  Just trading one dictator for another.  

Because from the time you get a drilling permit until the time you are producing oil is more like 18 months than 18 hours.


The US doesn't depend on oil from Russia. The businesses in the US do. they buy oil from whoever is selling it the cheapest. There are no global geopolitical thoughts that rumble through their brains, just "where can I get oil".

The Shell station on W Washington in Springfield at $4.90. That didn’t take long. We’re probably going to hit $6.00 at some point.

Teetime wrote:

dusty7 wrote:Tee, are you suggesting that Biden's policies have nothing to do with the large increase in oil/gas prices in the United States?  It seems like that is the argument you are trying to make.

The US oil production is down just slightly from an all time high. That slight drop was driven by the recession during which demand for oil dropped and so producers slowed down. None of that had anything to do with Biden policies that promote clean energy alternatives.

US High for oil production was November of 2019 (12,966 thousand barrels) and a low in May of 2020 (9,711).  We have remained fairly stable since Feb of 2011 with an average around 11,500 thousand barrels.  I would not say that we have had a huge increase in the supply of oil over the past few months.  Even when demand dropped amount produced dropped in April of 2020 and rebounded back to average by November 2020.  Producers did slow down but not by much.  

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

Teetime wrote:The "Biden policies" are being blamed for a worldwide fuel shortage (that was triggered by the Covid recession) by political opportunists in this country that want to bury the Green Energy crowd. Those opportunists in this country are funded by big oil companies. There are no oil industry experts in Europe or Saudi Arabia that honestly point to Biden policies as the cause of oil increases, those are all republican politicians who are puppets of the oil companies.  

Do Biden policies have any effect at all on the world wide oil market? NO! Especially since the Biden administration hasn't been following the Biden policies and has issued a drilling permit to anyone who asks.

You say that Biden set a record of drilling permits.  That's great but just because you have a permit do drill on federal land doesn't mean you are going to and doesn't say whether you will find any oil. Also, he paused the issuing of new permits on February 24 which was because a Louisiana federal judge blocked his admin's rules for polluting industries.

https://www.cnbc.com/2022/02/24/biden-administration-pausing-new-oil-and-gas-leases-amid-legal-battle-.html  

Here are two examples of how Biden's policies have impacted the world oil market.    

Claim: Companies aren’t drilling all the federal tracts they’ve leased
Yes, but energy companies have a long history of renting federal land and waters with the intention to drill when the price is right.

Granholm has challenged them to take advantage of the leases they hold, noting in January that some 23 million acres of offshore and onshore tracts were leased but not producing.

But the roughly 48% of leased onshore acreage that was actually churning out crude or gas as of Sept. 30, 2020 -- the most recent data available, cited by Granholm -- represents a nearly two-decade high. It’s not unusual for federal leases to remain idle. Sometimes the tracts don’t contain enough crude to justify the investment and sometimes they are snapped up by speculators on the cheap.


Claim: Biden’s green agenda discourages U.S. oil production
Top House Republicans issued a statement last week blaming surging costs on “the Biden administration’s anti-American energy policies.”

The lawmakers, Cathy McMorris Rodgers of Washington, Fred Upton of Michigan and Steve Scalise of Louisiana, said that under the right policies, the U.S. “could produce more here at home to lower energy costs.”

In reality, most of Biden’s climate policies are yet to be enacted. But just the threat of them has chilled some investment in new oil fields and wells according to Salisbury.

“There is a plausible argument to make there would be more supply if there was an administration supportive of that supply,” he said.

Oil and gas companies that are already wary of volatile energy demand amid the pandemic, heeding investors’ calls to be cautious and trying to green up their portfolios are also nervously eyeing the political landscape in the nation’s capital.

Over time, Biden’s climate policies could translate into less volatile energy prices, by divorcing power and fuel demand from finite fossil resources. In the short term, however, that policy pivot can retard spending.

“Uncertainty stalls investment,” and federal land policies could be deterring capital spending on new wells today, suppressing production below what it would be otherwise, Book said. “Knowing there are environmental strictures coming that could strand your investment probably isn’t a favorable environment for investing.”

https://www.bloomberg.com/news/articles/2021-11-30/fact-checking-the-finger-pointing-on-high-gasoline-prices

$4.59 Bourbonnais

Gas will level off around $7 in Illinois.
Wheat set a record high today. Wonder if that will affect food prices?

Let's go bran-don

In reality, most of Biden’s climate policies are yet to be enacted. But just the threat of them has chilled some investment in new oil fields and wells according to Salisbury.

“There is a plausible argument to make there would be more supply if there was an administration supportive of that supply,” he said.


Yes there is a plausible argument to make, and republicans are making it. It's incorrect, but plausible enough to get the lead on FOX news.

As I said, oil companies are not making that argument their paid help is doing it and your Bloomberg piece quotes a handful of republicans who are bought and paid for. Here is what the oil companies are doing (from your article:


Claim: The oil companies can just open the taps
Yes, they could, but really they don’t want to.

The U.S. oil industry is still producing less crude than it did before the pandemic curtailed travel and cratered demand for fuel. Even as demand returns, oil companies are keeping production flat while using profits to reward shareholders.

“Oil production is lagging behind as the economy roars back to life after the shutdown,” Energy Secretary Jennifer Granholm said recently during a White House briefing.

This year, explorers boosted output 4.5% and are expected to keep up the same pace next year. Total U.S. oil production remains 12% below pre-pandemic highs of 13.1 million barrels a day, with no sign of surpassing that in the next couple of years.

That follows a blistering four-year run that saw U.S. oil producers boost output by more than 50% between 2016 and 2020. Investors are now demanding greater returns so oil companies are forgoing crude expansion and instead returning cash to shareholders while vowing to keep spending in check.

OSUBucks wrote:The Shell station on W Washington in Springfield at $4.90. That didn’t take long. We’re probably going to hit $6.00 at some point.

still 4.19 here in virginia.

Setting records
https://twitter.com/GasBuddyGuy/status/1500910754207199234

Why did our imported oil from Russia increase from 2019 - late 2021? If or production was so high and was increasing, why did we increase our trading of oil with Russia?

https://www.nbcnews.com/politics/politics-news/us-ban-russian-oil-imports-rcna19119

Didn't Trump go to Europe and get laughed at by the German's when he said not to rely on Russian oil for energy?  Now Europe is left scrambling and will look to the US for their supply.  Hopefully production ramps up quickly in the US so we can sell to the Europeans and the price of gas will start to drop by Memorial Day.

dusty7 wrote:Why did our imported oil from Russia increase from 2019 - late 2021? If or production was so high and was increasing, why did we increase our trading of oil with Russia?

There was a recession starting in March 2020 (when Covid) hit and the US oil producers responded by cutting their production.

So buying more Russian oil (where they didn't cut back for the recession) became a way to plug the supply hole left by US producers cutting back.

Teetime wrote:

dusty7 wrote:Why did our imported oil from Russia increase from 2019 - late 2021? If or production was so high and was increasing, why did we increase our trading of oil with Russia?

There was a recession starting in March 2020 (when Covid) hit and the US oil producers responded by cutting their production.

So buying more Russian oil (where they didn't cut back for the recession) became a way to plug the supply hole left by US producers cutting back.

this chart makes it look like they did cut back in 2020
https://tradingeconomics.com/russia/crude-oil-production

This is interesting....
https://freebeacon.com/politics/how-dems-helped-spike-gas-prices/

dusty7 wrote:This is interesting....
https://freebeacon.com/politics/how-dems-helped-spike-gas-prices/

They want high gas prices. They are laughing at us.


Rahm Emanual said - You never let a serious crisis go to waste. And what I mean by that it's an opportunity to do things you think you could not do before.

The dem playbook.

My take is basically that Democrats have a greater sense of urgency than Republicans when it comes to global warming. The planet is getting warmer and the rate of acceleration has really increased in the last 50 years. Scientists will tell you that hydrocarbons being released in the atmosphere from burning fossil fuels is the cause. I believe that they’re right about that. I think the nuclear power plants that we can build today are much safer than the designs of the past like Three Mile Island and Chernobyl. Environmentalists are not much in favor of going nuclear. We can’t generate enough power with wind and solar though. I drive a Ram truck and it uses gasoline and I bought it in 2020. There aren’t enough charging stations across the country to induce me to buy an electric powered vehicle presently. New technologies will be developed eventually, possibly hydrogen powered vehicles but we’re not there yet. I do think we’re going to have some real issues by the end of the century if we continue on our present trajectory of burning fossil fuels. For example people living on the East Coast will be flooded out of their homes from the rising water levels in the oceans if we don’t make some changes at some point.

This is what the dems think of you paying more for gas. 81 million voted for this. Congrats
https://twitter.com/RNCResearch/status/1501666216842256388

Here's some info on how to go about drilling once you get a lease from thtegovernment.  Looks like a lot of bureaucratic red tape. Technically, you can have as many leases as you want but without a permit to drill.

In 2014 it took on average 94 days to approve the Application for Permit to Drill, and 133 days for the Bureau of Land Management feed back.  Also, royalty fees of 12.5% must be paid for all oil.

There is no doubt that Biden issued around 9,000 leases.   Most are probably still going through the approval process and it is likely that drilling may not ever happen with these leases, it's not an uncommon occurrence.  

https://www.blm.gov/programs/energy-and-minerals/oil-and-gas/operations-and-production/permitting/applications-permits-drill

https://www.blm.gov/programs/energy-and-minerals/oil-and-gas/operations-and-production/permitting

https://www.bloomberg.com/news/articles/2022-03-07/biden-administration-misusing-facts-on-oil-permits-api-says

Also, a pretty good Twitter thread here fact checking Biden and the Dems expansion of oil production..or lack of it. Of course it is not all Biden's fault but his party has played a big role in tht gas price issue.

https://mobile.twitter.com/DrewHolden360/status/1501716518761119745

dusty7 wrote:Why did our imported oil from Russia increase from 2019 - late 2021? If or production was so high and was increasing, why did we increase our trading of oil with Russia?

Perhaps Trump wanted to make nice nice with his genius buddy Putin, and he encouraged American companies to import more Russian oil. More likely, it was to help make up the shortfall created when Trump sanctioned oil imports from Venezuela in 2019.

dusty7 wrote:Here's some info on how to go about drilling once you get a lease from thtegovernment.  Looks like a lot of bureaucratic red tape. Technically, you can have as many leases as you want but without a permit to drill.

In 2014 it took on average 94 days to approve the Application for Permit to Drill, and 133 days for the Bureau of Land Management feed back.  Also, royalty fees of 12.5% must be paid for all oil.

There is no doubt that Biden issued around 9,000 leases.   Most are probably still going through the approval process and it is likely that drilling may not ever happen with these leases, it's not an uncommon occurrence.  

As I have said a number of times in this thread, the Biden administration is issuing DRILLING PERMITS at a record pace and has been since it took over. Not leases, DRILLING PERMITS.

Yes, some of those will be dry holes...does Biden have to locate the oil for the drillers?

They are not drilling. They are using their huge profits to pay out to shareholders.

https://biologicaldiversity.org/w/news/press-releases/new-data-biden-slays-trumps-first-year-drilling-permitting-by-34-2022-01-21/