“U.S. oil reserves near 40-year low”

[QP!]

As I said the oil people came out already and said they won't drill any more wells unless they can make money on them.

ya i am not disagreeing as much as i am saying that there is another factor at play. At the current price most can make money and are making record profits and their main concern is not bringing more supply online that will bring down the price.

It is why Trump admin officials have argued the spiking gas prices are good for America as the US is a major producer. What they are saying is the 'US oil and gas companies are making bank, being largely paid by a wealth transfer from the US citizen buying the higher priced product'.

We should never forget Trump had all the big OIl execs in his office before the election, begging them for $1B for his campaign and telling them how he would pay them back if he won.

Well he won and they are now getting paid back, ...big time.

Trump pledged pro-oil policy to CEOs, asked for $1B​

 

[Jerry Mathers]

Buy oil to replace it at a lot higher price and run up the debt.

we should make that fuel arbitrarily even more expensive to save the whales.

where is your humanity?

 

[Tbird19482]

ya i am not disagreeing as much as i am saying that there is another factor at play. At the current price most can make money and are making record profits and their main concern is not bringing more supply online that will bring down the price.

It is why Trump admin officials have argued the spiking gas prices are good for America as the US is a major producer. What they are saying is the 'US oil and gas companies are making bank, being largely paid by a wealth transfer from the US citizen buying the higher priced product'.

We should never forget Trump had all the big OIl execs in his office before the election, begging them for $1B for his campaign and telling them how he would pay them back if he won.

Well he won and they are now getting paid back, ...big time.

Trump pledged pro-oil policy to CEOs, asked for $1B​

What I am saying is they aren't going to do anything that hurts their bottom line.
If they can make more money then they will if not and it is going to cost them too much they won't.

 

[Jerry Mathers]

ya i am not disagreeing as much as i am saying that there is another factor at play. At the current price most can make money and are making record profits and their main concern is not bringing more supply online that will bring down the price.

It is why Trump admin officials have argued the spiking gas prices are good for America as the US is a major producer. What they are saying is the 'US oil and gas companies are making bank, being largely paid by a wealth transfer from the US citizen buying the higher priced product'.

We should never forget Trump had all the big OIl execs in his office before the election, begging them for $1B for his campaign and telling them how he would pay them back if he won.

Well he won and they are now getting paid back, ...big time.

Trump pledged pro-oil policy to CEOs, asked for $1B​

that's the same factor reiterated more obnoxiously.

 

[QP!]

What I am saying is they aren't going to do anything that hurts their bottom line.
If they can make more money then they will if not and it is going to cost them too much they won't.

yes and i have not disagreed with that.

What i am saying is more nuanced and adds a bit to what you say as some of the claims by Oil producers that "We will not build unless we can make money" are spin and BS as they can make money when oil is at record highs, as it is now. The reason many are not building, at these record high prices is becuase they do not want to increase supply and bring the price down and reduce profits.

OPEC used to be regular accused of this. Purposely slowing down product to market when demand and prices were highest, not because that product was not profit to ship, but because they wanted to keep prices higher.

 

[Tbird19482]

yes and i have not disagreed with that.

What i am saying is more nuanced and adds a bit to what you say as some of the claims by Oil producers that "We will not build unless we can make money" are spin and BS as they can make money when oil is at record highs, as it is now. The reason many are not building, at these record high prices is becuase they do not want to increase supply and bring the price down and reduce profits.

OPEC used to be regular accused of this. Purposely slowing down product to market when demand and prices were highest, not because that product was not profit to ship, but because they wanted to keep prices higher.

Well IF I can find it again I will post what the oil ex said.

 

[QP!]

Well IF I can find it again I will post what the oil ex said.

Why?

Is what i am saying really over your head?

Is it not possible in your view that what you say could be true in some instances, as i have acknowledged but ALSO that some oil execs might use that as an excuse to enjoy the higher profits from lower supply, and thus not want to bring their supply online, not because it is not profitable but because they know increased supply brings down prices and profits?

During covid we heard corporate execs say it was all 'supply chain disruptions that forced them to raise prices', while having to tell shareholder on their mandated calls a big part of the record high profits was due to them being able to raise prices even higher than inflation while blaming it on inflation.

Are you just unaware that corporate execs will say things that can be true in one part but not true in another?

 

[Yakuda]

U.S. oil reserves near 40-year low at 365 million barrels

U.S. Strategic Petroleum Reserve levels fell by 9.1 million barrels in the week of May 22.

www.kcra.com

“US munitions depleted by Iran war will take years to restore”

US munitions depleted by Iran war will take years to restore, analysis finds

Replenishing stockpiles of critical weapons systems could take until 2030 or 2031, creating a "window of vulnerability," a new analysis found.

www.militarytimes.com

And the predicted “ couple of weeks” War “we won” continues on

Drill baby, drill

 

[Tbird19482]

Why?

Is what i am saying really over your head?

Is it not possible in your view that what you say could be true in some instances, as i have acknowledged but ALSO that some oil execs might use that as an excuse to enjoy the higher profits from lower supply, and thus not want to bring their supply online, not because it is not profitable but because they know increased supply brings down prices and profits?

During covid we heard corporate execs say it was all 'supply chain disruptions that forced them to raise prices', while having to tell shareholder on their mandated calls a big part of the record high profits was due to them being able to raise prices even higher than inflation while blaming it on inflation.

Are you just unaware that corporate execs will say things that can be true in one part but not true in another?

Just wanted to back up what I said .

 

[Diogenes]

Drill baby, drill

Won't solve anything. There's no shortage of oil, there a shortage of logistical ability, storage capacity and funds.

Why the SPR is low:

• Legislative Sell-offs: Congress previously mandated the sale of over 250 million barrels to raise funds for the federal budget.
• Price Mitigation: Presidents Joe Biden and Donald Trump authorized massive emergency drawdowns to combat severe inflation at the pump and transit disruptions in major supply routes like the Strait of Hormuz

Why refilling is difficult:

• Logistical Bottlenecks: The SPR's four massive storage facilities in Texas and Louisiana can only physically accept limited daily deliveries.
• Market Prices: Buying hundreds of millions of barrels on the open market when crude is expensive forces taxpayers to overpay, meaning the Department of Energy must time purchases carefully to avoid spiking global prices.
• Global Demand: Because the US is acting as an emergency supplier for global markets facing ongoing geopolitical conflict, sustained high demand keeps commercial inventories tight.

 

[ThatOwlWoman]

Oil people have come out and said they won't drill more wells unless there is money to be made,well with te price of oil so high they should be drilling, but you have to remember there are only so many drilling rigs.

Crude Oil and Natural Gas Drilling Activity

Yep. You don't just go out and start drilling a hole. It costs millions, probably billions, to open a new oil field. Even more if your oil lease is offshore.

 

[Jerry Mathers]

There is always a tension with regards to when to build and bring new oil assets online.

If you are a big developer with a ton of already running rigs pumping out oil, you are not in any hurry to bring on more assets and start depressing the price and instead are ok leaving supply lower to keep price higher and enjoy big margins and bank big cash. They are ok waiting and bringing those assets online when the price comes down naturally and spending that banked cash.

If you are a new player with leases you will be incentivized to jump in when its highest as that is when you can raise the most capital and realize a quicker return on investment.

And since there is typically more large established players with assets in the wings, waiting to be finished and come on line, that is why you often see that not happen and why you then often see governments threaten to cancel the leases to try and force them to do it.

...

and humanity be damned.

collective effort just hurts profit.

evil reigns on earth.

 

[Jerry Mathers]

yes and i have not disagreed with that.

What i am saying is more nuanced and adds a bit to what you say as some of the claims by Oil producers that "We will not build unless we can make money" are spin and BS as they can make money when oil is at record highs, as it is now. The reason many are not building, at these record high prices is becuase they do not want to increase supply and bring the price down and reduce profits.

OPEC used to be regular accused of this. Purposely slowing down product to market when demand and prices were highest, not because that product was not profit to ship, but because they wanted to keep prices higher.

what you said is the same but new and improved with more bullshit.

extra bullshit is not intelligence or nuance.

 

[QP!]

what you said is the same but new and improved with more bullshit.

extra bullshit is not intelligence or nuance.

hahahaha.

That you disagree that oil oligarachs in the mid east and elsewhere play games deliberately manipulating supply to increase profits shows what a dupe you are.

That you think they operate in a free and fair way only shows how far lost you are.

 

[Jerry Mathers]

hahahaha.

That you disagree that oil oligarachs in the mid east and elsewhere play games deliberately manipulating supply to increase profits shows what a dupe you are.

That you think they operate in a free and fair way only shows how far lost you are.

they are criminals, also dedicated to the destruction of humanity.

your characterization of me is evidently crack-based.

 

[Noking]

they are criminals, also dedicated to the destruction of humanity.

your characterization of me is evidently crack-based.

The usual bizarre reply

 

[Jerry Mathers]

The usual bizarre reply

what word or phrase confuses you, imbecile?

 

[LurchAddams]

U.S. oil reserves near 40-year low at 365 million barrels

U.S. Strategic Petroleum Reserve levels fell by 9.1 million barrels in the week of May 22.

www.kcra.com

“US munitions depleted by Iran war will take years to restore”

US munitions depleted by Iran war will take years to restore, analysis finds

Replenishing stockpiles of critical weapons systems could take until 2030 or 2031, creating a "window of vulnerability," a new analysis found.

www.militarytimes.com

And the predicted “ couple of weeks” War “we won” continues on

Trump and his criminal thugs have fucked us so badly.

 

[QP!]

they are criminals, also dedicated to the destruction of humanity.

your characterization of me is evidently crack-based.

which shows how stupid you are as my post pointed out they were dishonest actors lying and you came in saying i was wrong and thus defended them.

 

[Jerry Mathers]

which shows how stupid you are as my post pointed out they were dishonest actors lying and you came in saying i was wrong and thus defended them.

I agree they are dishonest actors.

we agree.

they are shit like all neocon fascist genociders.