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hailtoyourvictor

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DD988-C71-75-CF-4-CE5-B996-7-A704-EB07878.jpg
 

brooky03

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Dems get more stupid by the day. It’s gotten harder and harder to find middle ground with them.
Same is true of you guys. Imagine watching DeSantis live his life and thinking, “yeah, that seems good.”
 

IUfanBorden

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Hail, I just love to see this addressed----As in a reporter bringing this up. I mean we know the answer to follow--"Well when Putin raised prices............Or, "Trump took to long to act...."

Its amazing how everything was Trumps fault, yet nothing is Biden's fault
 

Kevin Bryan

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Hail, I just love to see this addressed----As in a reporter bringing this up. I mean we know the answer to follow--"Well when Putin raised prices............Or, "Trump took to long to act...."

Its amazing how everything was Trumps fault, yet nothing is Biden's fault
He's busy doing important stuff. Doesn't have time for nonsense.
joe-biden-blizzard.gif
 

Ticket2ride06

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For all the O&G experts ITT, please list the ways this admin can lower gas prices. I want to see this.
 

I am stupid

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I'm not an expert... I'm stupid, but I'll give it a go.

Step 1. Don't promise to end fossil fuels.
Step 2. Don't enact policies against fossil fuels.

Some blame can be on Putin, but the prices were skyrocketing long before they invaded Ukraine. Is it covid related? Probably a lot of that too, but when your policies are directed towards negatively impacting an industry don't be surprised when the prices increase and they blame you.
 
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Ticket2ride06

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I'm not an expert... I'm stupid, but I'll give it a go.

Step 1. Don't promise to end fossil fuels.
Step 2. Don't enact policies against fossil fuels.

Some blame can be on Putin, but the prices were skyrocketing long before they invaded Ukraine. Is it covid related? Probably a lot of that too, but when your policies are directed towards negatively impacting an industry don't be surprised when the prices increase and they blame you.
So what policies are keeping American O&G from ramping up production?
 

IUfanBorden

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So what policies are keeping American O&G from ramping up production?
Why would they? When you know you are being pushed out the door, i.e. Biden's policies, why in the hell would you "ramp up production",and continue to invest?
 

I am stupid

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So what policies are keeping American O&G from ramping up production?

I believe they are at almost max production of gasoline. I think about 95%, the other 5% is out for scheduled maintenance.

Maybe why aren't they adding more capabilities to refine is a better question. That could be answered by the policies... stopping keystone xl, increasing taxes which would push production overseas, stopped issuing permits on federal property for oil and gas when he took office (has since been reverted as of April 2022, but with higher royalties:12.5%->18.75%), discussions of investigating them for making too much money, discussing allowing congress to set gas prices, discussions of congress to say how much profit they can make, etc.... i'm sure i'm missing some other things.

All these things signal to the gas companies that the administration is against them and it will be harder for them to money in the future. So that almost always means higher prices in any business.
 
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Ticket2ride06

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What policies are helping keep prices lower and production higher?
Policies don’t set the price. Market sets the price. Demand is through the roof and global supply still lags pre-Covid levels
Why would they? When you know you are being pushed out the door, i.e. Biden's policies, why in the hell would you "ramp up production",and continue to invest?
Biden will be in office 2 more years. O&G is looking far past Biden. The industry was on shaky ground heading into Covid. Covid just blew the problems way out of proportion. If Wall St was willing to lend more, we’d see some increase. But we still have labor and material shortages. But Wall St wants its investors paid back after O&G got over their skis.
I believe they are at almost max production of gasoline. I think about 95%, the other 5% is out for scheduled maintenance.

Maybe why aren't they adding more capabilities to refine is a better question. That could be answered by the policies... stopping keystone xl, increasing taxes which would push production overseas, stopped issuing permits on federal property for oil and gas when he took office (has since been reverted as of April 2022, but with higher royalties:12.5%->18.75%), discussions of investigating them for making too much money, discussing allowing congress to set gas prices, discussions of congress to say how much profit they can make, etc.... i'm sure i'm missing some other things.

All these things signal to the gas companies that the administration is against them and it will be harder for them to money in the future. So that almost always means higher prices in any business.
See my posts above. These guys use Biden admin as the scape goat. Biden is no friend to oil, but if the future looked better for significant investment, they would be doing so. There are a ton of factors at play, Biden being one of them. But his admin is a small piece of the pie.
 

IUfanBorden

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I believe they are at almost max production of gasoline. I think about 95%, the other 5% is out for scheduled maintenance.

Maybe why aren't they adding more capabilities to refine is a better question. That could be answered by the policies... stopping keystone xl, increasing taxes which would push production overseas, stopped issuing permits on federal property for oil and gas when he took office (has since been reverted as of April 2022, but with higher royalties:12.5%->18.75%), discussions of investigating them for making too much money, discussing allowing congress to set gas prices, discussions of congress to say how much profit they can make, etc.... i'm sure i'm missing some other things.

All these things signal to the gas companies that the administration is against them and it will be harder for them to money in the future. So that almost always means higher prices in any business.
WHich is what I said----just in a much smaller context. O&G companies are not going to produce more, invest more, simply b/c Biden's policies is gonna make it hard for them to make money in the future.
 

IUfanBorden

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Policies don’t set the price. Market sets the price. Demand is through the roof and global supply still lags pre-Covid levels

Biden will be in office 2 more years. O&G is looking far past Biden. The industry was on shaky ground heading into Covid. Covid just blew the problems way out of proportion. If Wall St was willing to lend more, we’d see some increase. But we still have labor and material shortages. But Wall St wants its investors paid back after O&G got over their skis.

See my posts above. These guys use Biden admin as the scape goat. Biden is no friend to oil, but if the future looked better for significant investment, they would be doing so. There are a ton of factors at play, Biden being one of them. But his admin is a small piece of the pie.
If the industry was onsuch shaky ground before COVID----and then COVID "blew the problems up"----why are we just now seeing prices reach the levels they are? Why didn't prices jump thorugh the roof under Trump?

I agree its not all on Biden, BUT.......his policies have added a lot more gas to an alraedy pretty big fire.

Biden might only be in office for two more years, but a lot of damage can be done in those two years---SHit look what he has done already....And just b/c he leaves, doesn't mean his policies do. Nor does it mean their impact suddenly goes away. His policies on fuel, will extend well beyond just, "two more years...."
 

Ticket2ride06

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If the industry was onsuch shaky ground before COVID----and then COVID "blew the problems up"----why are we just now seeing prices reach the levels they are? Why didn't prices jump thorugh the roof under Trump?

I agree its not all on Biden, BUT.......his policies have added a lot more gas to an alraedy pretty big fire.

Biden might only be in office for two more years, but a lot of damage can be done in those two years---SHit look what he has done already....And just b/c he leaves, doesn't mean his policies do. Nor does it mean their impact suddenly goes away. His policies on fuel, will extend well beyond just, "two more years...."
It’s a fairly complex issue that was a decade in the making. People forget we saw near $3 gas averages under Trump. The American O&G industry over extended themselves going back to under Obama. It was a bonanza where everyone was getting rich. We didn’t grow the industry carefully and there was a lot of money owed. Covid hit and the price of oil went negative. Billions were lost. Wall St has told big oil they aren’t lending more for expansion. Oil needs to pay back Wall St and it’s investors.

The issue is further compounded by staffing and materials shortages. This isn’t an American phenomenon. The whole world is dealing with it. Prices aren’t going to recede until demand drops and it hasn’t dropped yet. Going forward, however, growth will be more cautious. We will see the price of gas come down, but I think $4 avg is here to stay.
 

I am stupid

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When you adjust with inflation, gas has been about $2.30 since the 70's, Except last year its magically over $3 and will be over $4 this year.

Also looking at actual non adjusted prices, it just so happens from 2008-2015 prices were averaging $3.17. 2016-2020 averaged $2.48. 2021 was $3.28. This year, it seems like it will end up $4. Just a huge coincidence it averages higher when politicians are in control who want to eliminate them.
 

IUfanBorden

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It’s a fairly complex issue that was a decade in the making. People forget we saw near $3 gas averages under Trump. The American O&G industry over extended themselves going back to under Obama. It was a bonanza where everyone was getting rich. We didn’t grow the industry carefully and there was a lot of money owed. Covid hit and the price of oil went negative. Billions were lost. Wall St has told big oil they aren’t lending more for expansion. Oil needs to pay back Wall St and it’s investors.

The issue is further compounded by staffing and materials shortages. This isn’t an American phenomenon. The whole world is dealing with it. Prices aren’t going to recede until demand drops and it hasn’t dropped yet. Going forward, however, growth will be more cautious. We will see the price of gas come down, but I think $4 avg is here to stay.
When has the demand for gas ever dropped? I mean thats like saying, food prices will drop when the demand for food drops....Thats such a lame excuse---it really is.

I haven't forget we NEARLY saw $3 per gallon average under Trump.....That's better than NEARLY $5.

When a President outright says he wants to put an end to the O&G industry, what the hell did some of you think was gonna happen? Not to mention the huge push for electric cars, ya know, the whole, "climate thing". I mean if ya cannot afford gas.............

Again, not all on Biden----but he and his administration haven't helped. And lets be honest here my friend----If Trumpo was in office, and we were seeing the prices we see now, the infaltion we are seeing, the food shortage, etc, etc//??? JFC----that dude would have been impeached 7 times by now; or at least there would have been such attempts.

But to address the "when the demand for gas drops" thiungy----You are right---that is coming. Especially when Biden shuts it down, and we start seeing millions of electric cars.
 

Ticket2ride06

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When you adjust with inflation, gas has been about $2.30 since the 70's, Except last year its magically over $3 and will be over $4 this year.

Also looking at actual non adjusted prices, it just so happens from 2008-2015 prices were averaging $3.17. 2016-2020 averaged $2.48. 2021 was $3.28. This year, it seems like it will end up $4. Just a huge coincidence it averages higher when politicians are in control who want to eliminate them.
We also had a once in a century global shutdown that paused the entire world. Everyone, not just America, is grappling with recovering. But sure, Biden saying mean things is the problem. That’s a lot easier to accept apparently. And FTR, I think he’s a boob and been a bad president. But Trump would be facing the same issues.
When has the demand for gas ever dropped? I mean thats like saying, food prices will drop when the demand for food drops....Thats such a lame excuse---it really is.

I haven't forget we NEARLY saw $3 per gallon average under Trump.....That's better than NEARLY $5.

When a President outright says he wants to put an end to the O&G industry, what the hell did some of you think was gonna happen? Not to mention the huge push for electric cars, ya know, the whole, "climate thing". I mean if ya cannot afford gas.............

Again, not all on Biden----but he and his administration haven't helped. And lets be honest here my friend----If Trumpo was in office, and we were seeing the prices we see now, the infaltion we are seeing, the food shortage, etc, etc//??? JFC----that dude would have been impeached 7 times by now; or at least there would have been such attempts.

But to address the "when the demand for gas drops" thiungy----You are right---that is coming. Especially when Biden shuts it down, and we start seeing millions of electric cars.
The bolded makes it hard to take you seriously.

Feb 24 (Reuters) - In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all but condemning his company's core business to eventual obscurity.

"Demand will take a long time to recover if it recovers at all," he told reporters after the Anglo-Dutch energy company reported a sharp drop in second-quarter profit.

Van Beurden wasn't alone in his gloomy view. Like much else during the pandemic, what was happening in fuel markets was unprecedented. Demand had fallen so sharply as people stopped travelling, the oil industry simply couldn't cut production fast enough to match it.

Worse, the fall in demand came as Russia and Saudi Arabia - the two most powerful members of the OPEC+ group - were locked in a supply war that flooded markets.

There was so much oil there was nowhere to put it, and in mid-April 2020 the price of a barrel of West Texas crude went below $0 as sellers had to pay get rid of it.
 

IUfanBorden

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We also had a once in a century global shutdown that paused the entire world. Everyone, not just America, is grappling with recovering. But sure, Biden saying mean things is the problem. That’s a lot easier to accept apparently. And FTR, I think he’s a boob and been a bad president. But Trump would be facing the same issues.

The bolded makes it hard to take you seriously.

Feb 24 (Reuters) - In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all but condemning his company's core business to eventual obscurity.

"Demand will take a long time to recover if it recovers at all," he told reporters after the Anglo-Dutch energy company reported a sharp drop in second-quarter profit.

Van Beurden wasn't alone in his gloomy view. Like much else during the pandemic, what was happening in fuel markets was unprecedented. Demand had fallen so sharply as people stopped travelling, the oil industry simply couldn't cut production fast enough to match it.

Worse, the fall in demand came as Russia and Saudi Arabia - the two most powerful members of the OPEC+ group - were locked in a supply war that flooded markets.

There was so much oil there was nowhere to put it, and in mid-April 2020 the price of a barrel of West Texas crude went below $0 as sellers had to pay get rid of it.
Seems I recall another President being chastised for saying mean things, that was causing problems----Now its a "joke" in regards to Biden-------WHo was that President? Do you recall?

Demand for gas drops b/c people can't fukin afford it----not b/c they dont need it. Lets wuit acting as if the demand has gone down, simply due to people not wanting/needing....The demand for Atari game systems went down........but that was b/c well, something better came along. There is a difference in demand being impacted by price, opposed to want, or a better alternative.

JFC.....
 

Ticket2ride06

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Seems I recall another President being chastised for saying mean things, that was causing problems----Now its a "joke" in regards to Biden-------WHo was that President? Do you recall?

Demand for gas drops b/c people can't fukin afford it----not b/c they dont need it. Lets wuit acting as if the demand has gone down, simply due to people not wanting/needing....The demand for Atari game systems went down........but that was b/c well, something better came along. There is a difference in demand being impacted by price, opposed to want, or a better alternative.

JFC.....
I’m having trouble understanding what you are trying to say. Can you clarify your words about demand?
 

IUfanBorden

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I’m having trouble understanding what you are trying to say. Can you clarify your words about demand?
Sure.....Stuff like, well, gas is always going to be in demand----its a need; unless of course you happen to be Amish---Although I did see an Amish couple get into their car at WalMart....Probably fake Amish. WHo knows ....

Anyways...

Demand for gas was down in 202 due to the pandemic---not due to people not needing it.

Demand for gas is down now b/c well, people cannot afford it. More and people are using alternative avenues, i.e. public transportation, car pooling, riding bike, or even walking---or having shit delivered to their house. And of course, well, the influx of the ever wonder of the world---the electric car.

Demand being down due to supply, vs not needing vs not wanting,is different than demand being down due pricing. And that is why the demand is down. And that is due to many things, including and IMO ,moost importantly, Biden's policies. He has made his agenda clear----he wasnts to do away with O&G industry. So what impact does that have? Well, if you're in the O&G industry, and youre being weeded out, prices are through the roof do to this(in part), what are you going to do? Well, your certainly not going to keep producing----why would you? Thus now we have a supply issue, more than a demand issue, which now increases prices, which, well----causes a demand issue.

You are insinuating the demand for gas is down because its not needed/wanted----or thats how I took it...Or you;re just using the word demand wery loosely, and an excuse for prices being what they are, without using truthful context.
 

Ticket2ride06

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Sure.....Stuff like, well, gas is always going to be in demand----its a need; unless of course you happen to be Amish---Although I did see an Amish couple get into their car at WalMart....Probably fake Amish. WHo knows ....

Anyways...

Demand for gas was down in 202 due to the pandemic---not due to people not needing it.

Demand for gas is down now b/c well, people cannot afford it. More and people are using alternative avenues, i.e. public transportation, car pooling, riding bike, or even walking---or having shit delivered to their house. And of course, well, the influx of the ever wonder of the world---the electric car.

Demand being down due to supply, vs not needing vs not wanting,is different than demand being down due pricing. And that is why the demand is down. And that is due to many things, including and IMO ,moost importantly, Biden's policies. He has made his agenda clear----he wasnts to do away with O&G industry. So what impact does that have? Well, if you're in the O&G industry, and youre being weeded out, prices are through the roof do to this(in part), what are you going to do? Well, your certainly not going to keep producing----why would you? Thus now we have a supply issue, more than a demand issue, which now increases prices, which, well----causes a demand issue.

You are insinuating the demand for gas is down because its not needed/wanted----or thats how I took it...Or you;re just using the word demand wery loosely, and an excuse for prices being what they are, without using truthful context.
Demand is not currently down. It’s been crazy demand for a while now. Until demand tapers off, pricing will not ease. We are pretty much at max production and cannot meet demand.
 

IUfanBorden

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Demand is not currently down. It’s been crazy demand for a while now. Until demand tapers off, pricing will not ease. We are pretty much at max production and cannot meet demand.
I 100% misunderstood your post----and apparently mine. I guess valium will do that. Anyways...

Restrictions on Russia, war in Ukraine, COVID and , AND Bidens policies have wrecked gas prices.

I was under the impression you were saying the demand for gas is down....Then somehow got waaaay off track. Either way, its not just a Biden thing---but its another thing ina long line of things, that this administration has done, that had damn near brought this country to its knee's.