Oil

[Happiness]

It's right there in the Constitution. The state shall intervene in any market where the price exceeds acceptable boundaries, and return it to the desired level.

Did you know the government has for decades maintained vast caverns full of  preserved dairy products? Since you are an affluent person, you've probably never seen government cheese or powdered milk which is something we ghetto kids are all too familiar with.

When the price of milk drops below a certain level, the USDA will start buying milk until the price goes back up to stabilize the dairy industry, which is a strategic industry.

 

[Perspective]

It's right there in the Constitution. The state shall intervene in any market where the price exceeds acceptable boundaries, and return it to the desired level.

Did you know the government has for decades maintained vast caverns full of  preserved dairy products? Since you are an affluent person, you've probably never seen government cheese or powdered milk which is something we ghetto kids are all too familiar with.

When the price of milk drops below a certain level, the USDA will start buying milk until the price goes back up to stabilize the dairy industry, which is a strategic industry.

UNCONSTITUTIONAL!!! As a standard Republican would say today to this.

 

[fortune11]

Not to derail this thread but here is our constitutional scholar

Ted Cruz in 2011: "The 14th Amendment provides for birthright citizenship."

Ted Cruz today in 2018: "I would need to examine the legal arguments behind an executive order, and I haven?t seen those yet."

To add ? "And I will take my ugly wife and assassin father and move back to Canada if the ZombieMaster who ate my self-worth decrees it."

 

[morekaos]

We control the horizontal...we control the vertical...Take that Paris Climate Agreement!!

Feds Discover Largest Oil, Natural-Gas Reserve in History

In all, the new reserve is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural-gas liquids, the Interior Department?s U.S. Geological Survey said.

COMMENTS
Almost a third of the U.S.?s total crude-oil production comes from the Permian Basin where the reserve was found, making it the biggest shale-oil-producing region in the U.S.

?American strength flows from American energy, and as it turns out, we have a lot of American energy,? said Zinke. ?Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation.?

https://www.nationalreview.com/news/feds-discover-largest-oil-natural-gas-reserve-in-history/

U.S. Becomes a Net Oil Exporter for First Time in 75 Years

America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal ? even if likely brief ? moment toward what U.S. President Donald Trump has branded as ?energy independence.?

http://fortune.com/2018/12/06/oil-exports-us/
https://youtu.be/FCcdr4O-3gE

https://youtu.be/FCcdr4O-3gE

 

[morekaos]

Why do you think the price of "clean, renewable" energy is so high?  Is it because its free?  It is not. We sit on so much fossil fuel energy that it will still be powering our world in "20" years.  Its not free but it is plentiful and cheap.  You really think the Chinese believe in global warming?  They control the means of production and that only produces when cheap plentiful energy is available.  Sure they signed the Paris Climate agreement because it cost them nothing and hobbled their competition (US). They went right on buying "dirty" coal, natural gas and oil from anyone who can sell it to them.  Clean energy is a nice story but it can't compete in a energy hungry world without subsidies.  When it can compete, it will but for now we control the levers of energy.  That has been politically driven,  That's a good thing.

Yes...I absolutely believe that the Chinese believe in global warming.  Chinese government is a lot of stupid things but it is pragmatic.    It realizes that renewable energy allows it to 1) take the lead in renewable energy production and industries, 2) control and maintain domestic power production, and 3) be a leader in the world where renewable energy is the the future.   
http://money.cnn.com/2017/07/18/technology/china-us-clean-energy-solar-farm/index.html

Only GOP thinks in 1970s terms.

Don't trust the Chinese, they think in 1970's terms...

China is building coal power again

Experts are calling for the government to return to cutting capacity after policy reversal, reports Feng Hao

the sector?s resurgence is wildly out of line with the Paris Agreement, which commits countries to limiting the average global temperature rise from climate change by 2 degrees Celsius above the pre-industrial period.

Facts on the ground

Satellite imagery reveals that many coal-fired power projects that were halted by the Chinese government have quietly restarted.

Analysis by CoalSwarm estimates that 46.7 gigawatts of new and restarted coal-fired power construction is visible based on satellite imagery supplied by Planet Labs. The coal-fired power plants are either generating power or will soon be operational. If all the plants reach completion they would increase China?s coal-fired power capacity by 4%.

https://www.chinadialogue.net/blog/10761-China-is-building-coal-power-again/en

 

[morekaos]

We control the horizontal...we control the vertical...Take that Paris Climate Agreement!!

Feds Discover Largest Oil, Natural-Gas Reserve in History

In all, the new reserve is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural-gas liquids, the Interior Department?s U.S. Geological Survey said.

COMMENTS
Almost a third of the U.S.?s total crude-oil production comes from the Permian Basin where the reserve was found, making it the biggest shale-oil-producing region in the U.S.

?American strength flows from American energy, and as it turns out, we have a lot of American energy,? said Zinke. ?Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation.?

https://www.nationalreview.com/news/feds-discover-largest-oil-natural-gas-reserve-in-history/

U.S. Becomes a Net Oil Exporter for First Time in 75 Years

America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal ? even if likely brief ? moment toward what U.S. President Donald Trump has branded as ?energy independence.?

http://fortune.com/2018/12/06/oil-exports-us/
https://youtu.be/FCcdr4O-3gE

https://youtu.be/FCcdr4O-3gE

Anybody care to guess where oil prices would be today if this was not our reality?  Drill baby drill!! saved us...

Brent crude oil jumps the most in history after Saudi attacks

Oil prices soared after a coordinated attack hit the heart of Saudi Arabia?s oil industry on Saturday, forcing the kingdom to cut its oil output in half.

Brent crude futures, the international benchmark, rose as much as 19.5% to $71.95 per barrel at the open, the biggest jump on record. The contract closed the session up 14.6% at $69.02.

U.S. West Texas Intermediate futures climbed as much as 15.5% to $63.34, the biggest climb since December 2008. The contract settled at $62.9, up $8.05 or 14.8%.

https://www.cnbc.com/2019/09/15/us-crude-oil-jumps-15percent-after-drone-strikes-disrupt-saudi-crude-production.html

 

[morekaos]

$60 oil is the sweet spot. If we get to that price and hold everybody is happy. The producers make lots of money the consumer is not too angry and the country exports a fortune and reduces its deficit. Couple that with the export of natural gas and that?s a formula for winning

I still think this stands...we are just fine.

 

[morekaos]

Time to revive this thread?the Chancellor of energy has no idea how much oil (energy) we consume on a day when the Ministry of Plenty felt they needed to deplete ou strategic oil reserve to try and control prices (not an emergency and totally ineffective). Dumb and dumber.

Biden?s Energy Secretary Has No Idea How Much Oil Americans Need

Speaking to reporters at the White House Tuesday afternoon, Department of Energy Secretary Jennifer Granholm was asked how many barrels of oil Americans consume and need each day. She claimed she didn't have the answer.

The answer is 18 million barrels, which exposes President Biden's move to release 50 million barrels from the  Strategic Petroleum Reserve as a futile, political move.

https://townhall.com/tipsheet/katiepavlich/2021/11/23/bidens-energy-secretary-has-no-idea-how-much-oil-americans-need-n2599575

 

[morekaos]

I preferred "Winning"...

More "overperforming?" After Keystone XL cancelation, we're now importing more oil from Russia

One year since President Joe Biden cancelled approval for the Keystone XL pipeline from Canada, and the United States? thirst for oil is as strong as ever and rising.

U.S. oil imports from Saudi Arabia and Russia have increased, and gasoline prices are higher than they have been in the last five years. 
https://energynow.com/2022/01/huge-...tion-represents-a-massive-missed-opportunity/

 

[morekaos]

No...our domestic energy system did not get Covid...it got Brandon, and that is more fatal...

Biden's oil nightmare

In early December, oil was trading at $65 per barrel.  Today, it's over $90, which is more than a 50% increase in a little over a couple of months.  This past week, the average price of gasoline in the United States hit a seven-year high at the pump, but there's still much more to come.  And while the U.S. Energy Information Administration these past few weeks predicted that prices will now decline continuously well into 2023, oil traders are pricing for $100 per barrel and higher in the next several months.

The go-to scapegoat for every problem the administration faces seems to be COVID, and it's not at all different with this self-imposed oil crisis.  Yes, demand for petroleum did drop at the peak of the virus ? and by peak, think a year ago, when weekly deaths were much higher but fewer people had COVID.  This brief pause in demand held oil prices down, but not for long and not enough to cause producers to shutter production.  No, the reduction in domestic pumping has nothing to do with virology and everything to do with politics.

Imagine being the CEO of an oil company listening to the past year of antagonism from the Biden crowd ? canceling the Keystone XL pipeline, suspending new drilling leases on federal land, and pledging to reduce U.S. carbon emission by 50% in the next seven years.  Would you commit millions ? nay, billions of dollars to drilling and developing oil fields?  Nope!  And that's why domestic production is down 1.2 million barrels per day over the past twelve months ? not COVID.

Meanwhile, in the "for thee but not for me" world we live in, the administration hammers the domestic oil industry but begs OPEC nations to increase oil production.  And while OPEC+ has committed to a 400,000 BPD increase, fulfilling that commitment is problematic.  Only the Saudis have that level of excess capacity and, currently, they aren't particularly keen to help us out.  Russian oil infrastructure is decaying and can't ramp up appreciatively, while political upheavals are interrupting production with big producers like Nigeria and Kazakhstan. 
https://www.americanthinker.com/blog/2022/02/bidens_oil_nightmare.html

 

[morekaos]

Magic tricks and slight of hand will not work...Now they figure out taxes are harmful?...
White House, congressional Democrats eye federal gas tax holiday as prices remain high, election looms
The White House and Democrats have struggled to address public frustration over inflation, and gas prices have been one of the biggest issues

The White House and top Democratic lawmakers are beginning to weigh a new push for a federal gas tax holiday, potentially pausing fees at the pump as part of a broader campaign to combat rising prices.

The early deliberations come days after a group of vulnerable Senate Democrats introduced a bill that would suspend the gas tax of roughly 18 cents per gallon for the rest of the year, which party lawmakers are expected to discuss at a lunch Tuesday. Asked about the proposal, the White House signaled that ?all options are on the table,? as the administration tries to ease the growing financial burdens facing Americans during a period of high inflation.

For now, the White House has not offered any official, explicit endorsement of the policy. Behind the scenes, top aides have debated whether it would provide meaningful relief ? or ultimately serve to benefit the producers of gas more than the consumers of it. Some senior officials also fear the policy might be difficult to end later, since no politician would want to be seen as raising prices, according to two people familiar with the matter who spoke on the condition of anonymity to describe the discussions.
https://www.washingtonpost.com/us-policy/2022/02/15/democrats-gas-tax-holiday/

 

[morekaos]

We control the horizontal...we control the vertical...Take that Paris Climate Agreement!!

Feds Discover Largest Oil, Natural-Gas Reserve in History

In all, the new reserve is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural-gas liquids, the Interior Department?s U.S. Geological Survey said.

COMMENTS
Almost a third of the U.S.?s total crude-oil production comes from the Permian Basin where the reserve was found, making it the biggest shale-oil-producing region in the U.S.

?American strength flows from American energy, and as it turns out, we have a lot of American energy,? said Zinke. ?Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation.?

https://www.nationalreview.com/news/feds-discover-largest-oil-natural-gas-reserve-in-history/

U.S. Becomes a Net Oil Exporter for First Time in 75 Years

America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal ? even if likely brief ? moment toward what U.S. President Donald Trump has branded as ?energy independence.?

http://fortune.com/2018/12/06/oil-exports-us/
https://youtu.be/FCcdr4O-3gE

https://youtu.be/FCcdr4O-3gE

Just in time....Only took one year...Thanks Brandon!...

Energy Independent No More? US Poised to Be Net Oil Importer in 2022

The United States is poised to remain a net crude oil importer in 2022 for the second consecutive year, the Energy Information Administration (EIA) stated in a new report. The world?s largest economy is projected to import an annual average of 3.9 million barrels per day this year, according to the February 2022 Short-Term Energy Outlook (STEO) report. They also project that net import volumes will decline to 3.4 million barrels a day in 2023. EIA officials stated that the Unites States returned to importing more petroleum in 2021, adding that these imports could increase this year
https://www.theepochtimes.com/energ...d-to-be-net-oil-importer-in-2022_4297552.html

 

[nosuchreality]

Hey at $100 a barrel, every oil shale, fracking and half crappy well is financially viable again. 

Job creation!  Winning!

 

[morekaos]

Hey at $100 a barrel, every oil shale, fracking and half crappy well is financially viable again. 

Job creation!  Winning!

You'd think?.. but few are want to put money on the line and commit longer term because of the Jihad on energy that Brandon has waged.  We are still millions of barrels light on production here to pre pandemic levels so price is not the issue. 

To make Putin pay, Biden must ramp up US energy production

?We?re closely monitoring energy supplies for any disruptions? was Biden?s tepid statement in his address to the nation Tuesday.

That?s not enough. America must ramp back up oil and natural gas production to at least Trump-era levels. US oil production peaked in 2019 at 13 million barrels per day. Now, thanks to Biden?s burdensome regulations, production has stalled at 11.6 million barrels.

Biden can?t fear progressives more than Putin. He simply must start incentivizing domestic production, especially by removing all restrictions on new drilling on federal lands. Driving energy prices down is one of the best ways to make Putin pay over the long term.
https://nypost.com/2022/02/22/to-make-putin-pay-biden-must-ramp-up-us-energy-production/

Standing Up to Putin Means Ditching Net-Zero

Geopolitical realism requires energy realism. It also demands realism about the prospects for net-zero. Last week, Alok Sharma, the British president of the UN COP 26 climate conference, maintained that net-zero ?remains alive,? but admitted, ?the pulse is weak.? Achieving this barely-alive objective requires global emissions to be cut in half by the end of this decade. That?s not going to happen. The basic math of the West vs. the Rest?s greenhouse gas emissions means that what the West does has a diminishing effect on the trajectory of global emissions.
https://www.realclearenergy.org/art..._to_putin_means_ditching_net-zero_818493.html

 

[morekaos]

Boy do I hate being right all the time...

Crunched at the pump: Gas spikes to nearly $7 a gallon in LA County as average national price tops $4 for first time since 2008 as Ukraine crisis and Bidenflation stoke fears of costly fuel
Gas prices spiked to nearly $7 a gallon at at least one Los Angeles station on Sunday as the national average topped $4 for the first time since 2008
The average price of regular gasoline in LA County was $5.288 on Sunday
That is up 9.7 percent from just one week before, 13 percent from last month and 57.5 percent higher than last year
Experts blame the war in Ukraine, coupled with rising inflation at home of 7.5 percent, for the sky-high gas prices
Californians also suffer from high state taxes, as well as stricter refining rules that require specific fuel formulae in the summer months
https://www.dailymail.co.uk/news/ar...s-one-LA-station-reaches-nearly-7-gallon.html
https://youtu.be/8DO0kxKMHIA

 

[daedalus]

Finally, some relief is in sight for sky-high truck and SUV prices!

 

[DrTravel]

I?m not an expert but today oil prices gave up most of their big overnight gains and briefly dipped into negative territory. Prices rose on the possibility of a ban of Russian oil but fell when Germany stated it is reluctant to do so.

So was today a blowout event? Where do the TI experts think oil is headed?

 

[morekaos]

Higher, as long as these bozo's are in charge... ;D ;D >

Kamala Harris say it is time to make a 'transition' to green energy as she pushes electric cars and 'clean transit' with Pete Buttigieg while Americans face record gas prices
Biden administration pushing transition to green energy and electric cars
'We are all in the midst of a turning point. We have the technologies to transition to a zero emission fleet,' Vice President Kamala Harris said
Announcement comes as AAA reported Sunday that the national average for a gallon of gas hit $4.009 -- the highest since 2008
White House press secretary Jen Psaki said President Biden is doing ?everything he can to reduce the impact? of gas prices on the American people
She blamed high prices on Putin and snapped at Fox News' Peter Doocy for asking her why the federal government wasn't doing more
https://www.dailymail.co.uk/news/ar...-energy-Americans-face-record-gas-prices.html

 

[AW]

Won?t impact about 25% of Irvine, that?s what it looks like based on the EV?s on the roads of Irvine. 

Sweet, sweet, EV?s. 

 

[morekaos]

Won?t impact about 25% of Irvine, that?s what it looks like based on the EV?s on the roads of Irvine. 

Sweet, sweet, EV?s. 

Have you opened your electric bill this month? Sweet, sweet, mutual pain.