December 2, 20213 yr 1 hour ago, Ipiggles said: 1st, this may surprise you, but you were on ignore long before this. Also whether you believe it or not, I never opened up any of your retorts here, I moved on. Mmk. The US became the #1 producer of oil in 2013 under Obama. Which renders your whole point about Trump's famed deregulation moot. And the US is going to be the #1 producer of oil again in 2021. Vikas outlined the situation far better than I could earlier here, but the bottom line of the argument is that costs to extract oil are significantly more expensive for tight and shale oil. Vikas and TEW (despite a semantic argument we had over whether the US is a marginal producer) know more about this topic than just about anybody else from an investment standpoint. But the gist is that much of our production is directly related to the global price of oil; if the price of oil is high for a sustained period it makes sense for our production to expand, but when crude is cheap our production will go down because it's too expensive to extract - NOT because of regulatory changes. And the barriers to extraction of new shale sites is lack of interest from private investors, also not because of regulations. When Biden came in he put a moratorium on new drilling licenses. Which had a performative effect for his base, but little practical effect because we still had 100s of oil rigs ready to come online after being shut down because of the pandemic. And the moratorium is no longer in place. that said, new drilling isn't really happening at the moment because we're still turning on the rigs that are ready to pump. Not to mention new leases for drilling in the gulf were just auctioned off. Environmentalists are not happy with Biden. In short, your entire argument is a nice summary of talking points that don't stand up to basic scrutiny.
December 2, 20213 yr 16 minutes ago, JohnSnowsHair said: Mmk. The US became the #1 producer of oil in 2013 under Obama. Which renders your whole point about Trump's famed deregulation moot. And the US is going to be the #1 producer of oil again in 2021. Vikas outlined the situation far better than I could earlier here, but the bottom line of the argument is that costs to extract oil are significantly more expensive for tight and shale oil. Vikas and TEW (despite a semantic argument we had over whether the US is a marginal producer) know more about this topic than just about anybody else from an investment standpoint. But the gist is that much of our production is directly related to the global price of oil; if the price of oil is high for a sustained period it makes sense for our production to expand, but when crude is cheap our production will go down because it's too expensive to extract - NOT because of regulatory changes. And the barriers to extraction of new shale sites is lack of interest from private investors, also not because of regulations. When Biden came in he put a moratorium on new drilling licenses. Which had a performative effect for his base, but little practical effect because we still had 100s of oil rigs ready to come online after being shut down because of the pandemic. And the moratorium is no longer in place. that said, new drilling isn't really happening at the moment because we're still turning on the rigs that are ready to pump. Not to mention new leases for drilling in the gulf were just auctioned off. Environmentalists are not happy with Biden. In short, your entire argument is a nice summary of talking points that don't stand up to basic scrutiny. So again you are claiming the deregulations Trump had put into place had zero effect, and thus the reversals of those deregulations also had zero effect? I know I cant quantify how much it impacted it, and I dont believe you can either? So what gives? My information may not be correct, but it isn't just talking points either. SEPTEMBER 13, 2018 https://www.energy.gov/articles/us-becomes-world-s-largest-crude-oil-producer-and-department-energy-authorizes-short-term WASHINGTON, D.C. –The Energy Information Administration (EIA) estimated in their latest Short-Term Energy Outlook that the United States is now the largest global crude oil producer, likely surpassing Russia and Saudi Arabia. In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999. https://www.wyomingpublicmedia.org/natural-resources-energy/2018-11-01/u-s-becomes-global-leader-in-oil-production As of August, the U.S. is the leading producer of crude oil in the world. A new analysis shows the nation surpassed Russia and Saudi Arabia in total number of barrels produced per day (b/d) that month, with 11.35 million (b/d).Since January of 2017, daily crude oil production has increased more than 25 percent -- the fastest growth since the 1950s. Growth primarily occurred in Texas, the Gulf of Mexico, and mountain west states like North Dakota and Wyoming. https://www.forbes.com/sites/rrapier/2020/09/29/did-the-us-become-the-worlds-top-oil-producer-under-president-trump/?sh=151be5b220dd
December 2, 20213 yr 16 minutes ago, JohnSnowsHair said: Mmk. The US became the #1 producer of oil in 2013 under Obama. Which renders your whole point about Trump's famed deregulation moot. And the US is going to be the #1 producer of oil again in 2021. Vikas outlined the situation far better than I could earlier here, but the bottom line of the argument is that costs to extract oil are significantly more expensive for tight and shale oil. Vikas and TEW (despite a semantic argument we had over whether the US is a marginal producer) know more about this topic than just about anybody else from an investment standpoint. But the gist is that much of our production is directly related to the global price of oil; if the price of oil is high for a sustained period it makes sense for our production to expand, but when crude is cheap our production will go down because it's too expensive to extract - NOT because of regulatory changes. And the barriers to extraction of new shale sites is lack of interest from private investors, also not because of regulations. When Biden came in he put a moratorium on new drilling licenses. Which had a performative effect for his base, but little practical effect because we still had 100s of oil rigs ready to come online after being shut down because of the pandemic. And the moratorium is no longer in place. that said, new drilling isn't really happening at the moment because we're still turning on the rigs that are ready to pump. Not to mention new leases for drilling in the gulf were just auctioned off. Environmentalists are not happy with Biden. In short, your entire argument is a nice summary of talking points that don't stand up to basic scrutiny. One other point to add on shale -- yes, rigs coming back online helps. But remember -- shale wells have very short lives. So the shale guys can't simply start extracting from all their existing wells while not drilling some new ones -- if they do, they'll exhaust their supply of drilled wells and then basically be at zero. It's why shale is a terrible business -- you never get to a capex cliff where cash flow can become self-sustaining. Since they can' access capital to finance large exploration and drilling programs, they have to be disciplined in extracting from existing wells.
December 2, 20213 yr 40 minutes ago, Ipiggles said: So again you are claiming the deregulations Trump had put into place had zero effect, and thus the reversals of those deregulations also had zero effect? I know I cant quantify how much it impacted it, and I dont believe you can either? So what gives? Practically speaking, Trump's deregulation probably didn't have much of an effect even if they struck all the necessary tones with the base. Opened up areas of Arctic waters and the Bering Sea to oil and gas drilling. [1] Reversed Drilling in the Arctic waters and Bering strait was stuck in court at least as late as 2019. Given demand fell off a cliff in 2020 because of Covid, practically speaking that EO had zero impact. Rescinded an Obama executive order on preparing for climate change impacts using risk management strategies. [1] Reversed This is so vague and broad, it's virtually unquantifiable. Shrunk the size of several national monuments, including the Bears Ear national park in Utah which allowed for drilling there. [1] Reversed Also tied up in court. No oil drilling happened. This never impacted supply or cost of oil now. Enabled the expansion of offshore drilling. [1] Reversed Oil Industry Celebrates Gulf of Mexico Auction as 1.7 Million Acres Sold for Drilling ..... (November 2021) Approved the building of the Keystone XL pipeline. [1] Reversed Very dirty oil requiring expensive refinement at some time in the future won't flow as cheaply to the US. Zero impact on oil production or prices during Trump or Obama. I'm not going to go down all the rest. Many of them are related to the above (such as Escalante and Bears Ears), but the practical reality is that few if any of Trump's EOs actually had an impact during his four years (and definitely had zero effect in 2020 because of COVID demand dropping off). Might some of them, such as Keystone XL, impacted oil supply at some time in the future? Sure, maybe. I acknowledged that in my earlier post from a week or whatever ago. But you're fooling yourself if you think a president can come in and turn some knobs to increase oil production in the short term. It's not a faucet that a president has control over. The areas Trump opened up for leases and additional drilling were inevitably going to be tied up in litigation, and it would have required at least two terms in the White House to actually contribute to production. I'm not denying there was some potential for long term production effects. But did it impact the oil industry much from Jan 20 2017 through Jan 20 2021? No. Again, you're buying into talking points.
December 2, 20213 yr 32 minutes ago, JohnSnowsHair said: Practically speaking, Trump's deregulation probably didn't have much of an effect even if they struck all the necessary tones with the base. Opened up areas of Arctic waters and the Bering Sea to oil and gas drilling. [1] Reversed Drilling in the Arctic waters and Bering strait was stuck in court at least as late as 2019. Given demand fell off a cliff in 2020 because of Covid, practically speaking that EO had zero impact. Rescinded an Obama executive order on preparing for climate change impacts using risk management strategies. [1] Reversed This is so vague and broad, it's virtually unquantifiable. Shrunk the size of several national monuments, including the Bears Ear national park in Utah which allowed for drilling there. [1] Reversed Also tied up in court. No oil drilling happened. This never impacted supply or cost of oil now. Enabled the expansion of offshore drilling. [1] Reversed Oil Industry Celebrates Gulf of Mexico Auction as 1.7 Million Acres Sold for Drilling ..... (November 2021) Approved the building of the Keystone XL pipeline. [1] Reversed Very dirty oil requiring expensive refinement at some time in the future won't flow as cheaply to the US. Zero impact on oil production or prices during Trump or Obama. I'm not going to go down all the rest. Many of them are related to the above (such as Escalante and Bears Ears), but the practical reality is that few if any of Trump's EOs actually had an impact during his four years (and definitely had zero effect in 2020 because of COVID demand dropping off). Might some of them, such as Keystone XL, impacted oil supply at some time in the future? Sure, maybe. I acknowledged that in my earlier post from a week or whatever ago. But you're fooling yourself if you think a president can come in and turn some knobs to increase oil production in the short term. It's not a faucet that a president has control over. The areas Trump opened up for leases and additional drilling were inevitably going to be tied up in litigation, and it would have required at least two terms in the White House to actually contribute to production. I'm not denying there was some potential for long term production effects. But did it impact the oil industry much from Jan 20 2017 through Jan 20 2021? No. Again, you're buying into talking points. Well now you are going on ignore again.
December 3, 20213 yr 😆 "Thanks, @JoeBiden," the DCCC’s official account posted along with a graph that had no start date showing gas prices going down by two cents from November 22 to November 29.
December 3, 20213 yr 3 hours ago, lynched1 said: 😆 "Thanks, @JoeBiden," the DCCC’s official account posted along with a graph that had no start date showing gas prices going down by two cents from November 22 to November 29. Biden should get a 2nd term for that alone
December 3, 20213 yr 35 minutes ago, Dave Moss said: Biden should get a 2nd term for that alone Got to set that bar low enough for him to clear it.
December 3, 20213 yr The only thing dumber than moaning and groaning about gas going up 30 cents a gallon is celebrating it going down 2 cents.
December 3, 20213 yr The twitter thread and ratio on this one is gold, Jerry! Gold! It really is the dumbest cult on the planet. Edit: guess I should have checked the thread first. Worth reposting, though.
December 3, 20213 yr Author 9 hours ago, Dave Moss said: The only thing dumber than moaning and groaning about gas going up 30 cents a gallon is celebrating it going down 2 cents. The funny thing to me is all the people b**ching about how gas prices make their lives so hard, yet the lines at the gas pumps where I normally fill up are longer than ever, significantly more busy than anything I was used to even before the pandemic. If gas prices are so financially burdensome, you'd think they'd be driving less for non-essentials, but instead, they're directly fueling a level of demand that only further incentivizes price increases.
December 3, 20213 yr 3 minutes ago, EaglesRocker97 said: The funny thing to me is all the people b**ching about how gas prices make their lives so hard, yet the lines at the gas pumps where I normally fill up are longer than ever, significantly more busy than anything I was used to even before the pandemic. If gas prices are so financially burdensome, you'd think they'd be driving less for non-essentials, but instead, they're directly fueling a level of demand that only further incentivizes price increases. Did you conduct a survey of who was driving for non-essential purposes while there?
December 3, 20213 yr Author 1 minute ago, Kz! said: Did you conduct a survey of who was driving for non-essential purposes while there? No it's obviously a casual observation, but people appear to be driving more than ever.
December 3, 20213 yr Author If you do a quick search, it's pretty easy to find articles reporting that travel and tourism are trending toward surpassing pre-pandemic levels.
December 3, 20213 yr 12 minutes ago, EaglesRocker97 said: If you do a quick search, it's pretty easy to find articles reporting that travel and tourism are trending toward surpassing pre-pandemic levels. Well, yeah, Biden just lowered it by two cents. Of course everyone is out there living it up!
December 3, 20213 yr national parks are packed. they've seen more visitors this year than ever, by a healthy margin. people are driving a lot more recreational miles this year than 2019. that said, Biden had as little to do with the recent drop in gas prices as he did with the increase. crude prices peaked at over $80 a couple weeks ago, and are down off that average. just seeing that number come down has helped somewhat. the reason for that drop probably has more to do with omicron fears than anything else, but it's also worth noting that October oil production was back up in October to 11.4m barrels/day after falling off a bit in September due to Hurricane Ida, and that number is expected to rise slightly in November and December. the price of oil going down will hurt our future production, as if it drops too much for too long it will hinder the tight and shale oil industry. but we'll see cheaper gas, so pick one or the other.
December 3, 20213 yr Author 2 minutes ago, Kz! said: Wouldn't surprise me if he kicked the bucket soon. Wish in one hand, $h|t in the other...
December 3, 20213 yr https://www.cnbc.com/2021/12/03/holiday-shopping-2021-spending-set-to-blow-past-records-nrf-says.html Holiday sales on track to blow past record for spending, topping retail trade group’s biggest forecast Thank you, glorious leader Biden!
December 3, 20213 yr 9 minutes ago, VanHammersly said: https://www.cnbc.com/2021/12/03/holiday-shopping-2021-spending-set-to-blow-past-records-nrf-says.html Holiday sales on track to blow past record for spending, topping retail trade group’s biggest forecast Thank you, glorious leader Biden! All dat stimlis monay!!!
December 3, 20213 yr Just now, Outlaw said: All dat stimlis monay!!! Well, Americans got a sheet load of stimi money last year (signed by Trump no less) and this year's gonna blow last year out of the water. Why the disparity? My guess is it's because Biden loves America so much! And obviously the hog in his pants!
December 3, 20213 yr 1 minute ago, VanHammersly said: Well, Americans got a sheet load of stimi money last year (signed by Trump no less) and this year's gonna blow last year out of the water. Why the disparity? My guess is it's because Biden loves America so much! And obviously the hog in his pants! Reading Ashley's diary again?
December 3, 20213 yr 2 minutes ago, mikemack8 said: Reading Ashley's diary again? Don't need to read anything. It's written all over his face.
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