Too bad the enterprising oil and gas companies figured out how to produce more of both despite all of Obamas efforts to kill them/us.
The problem for Joe of course is that he wants to end the use of fossil fuels without anything to replace no matter how much it costs. Unless, and possibly even if oil surpasses $200 BBL it will still be the cheapest alternative given our current technology
to china on the Sly...
and since all you lefties are just so enamored with political leaders sucking each other off, any of you care to ask John Karry how Ayatola dick tastes?
That's the bad news. The good news is that I too am getting that extra $30 bbl too. Thank you Joe.
I guess I should apologize to the rest of you who have to pay more at the pump, or more accurately I should thank the libs for the fortune I am going to make over the next couple of years. Thank you libs, Thank you Joe. roflmfao
Since oil prices, like all commodities, are the result of supply and demand.
Oil prices have been recovering since last year as the economy came back to life. Also the result of a production cut agreed to between Putin and OPEC.
More evidence Cloaca will say ANYTHING. Except the truth.
Oil prices have been recovering since last year as the economy came back to life. Also the result of a production cut agreed to between Putin and OPEC.
More evidence Cloaca will say ANYTHING. Except the truth.
It's easy to prove what I wrote is correct and what GaCloaca wrote is a LIE. But you dimwit righties just LOVE to suck up lies that you desperately want to believe.
The only thing you're balls-deep in is GaCloaca's busted-out bunghole.
and all of the little lies along the way. With the devious and malevolent on the extreme fascist right, truth is the enemy. They employ a firehose of lies and disinformation to confuse, overwhelm, and feed red meat to the base. And for the other right-wing wackos, idiots, and misfits "there's a sucker born every minute".
Oil prices are a result of supply and demand and every oil buyer/seller in the world knows our oil production is and is going to continue to plummet as a result of this administrations policies. They aren't trying to hide it, their stated goal is to eliminate the worlds dependence of fossil fuels. The only problem is they are putting the cart before the horse. They want to crush oil production in this country BEFORE having a viable alternative energy source to replace it.
Yes the world uses somewhere over 90 million BOPD, but even increases of a million or two BOPD can move prices 10-20% in just a matter of days. The US was the worlds largest producer under Trump, but under Biden the consensus is that we are going to lose about 5 million BOPD of that production as stricter regulations, ZERO new oil leases on Federal Lands along with a moratorium on new drilling permits, coupled with severely limiting the fracking techniques used in the all important shale production that has accounted for most of our recent increases in production all start to take effect.
One other thing to keep in mind, yes oil has a "spot" price which is what oil is selling for today, but that spot market is very closely tied to the futures markets which just like the stock market is "forward looking" and reflects not just what supply/demand looks like today, but what it is going to be in the near future. Most oil experts are looking for increased demand and lower supply which has led to the huge run up in recent months.
Thank you for helping me to make two important points. (2nd one first.)
http://www.politifact.com/factchecks/2018/oct/04/donald-trump/united-states-no-1-energy-producer-world/
"The United States is now [2018] the No. 1 energy producer in the world. That happened just recently. [Trump]"
"... Beyond the question of who’s No. 1, Trump also said that this achievement "happened just recently." ... As we noted in a 2015 fact-check, the United States has been the world’s largest oil producer since 2012 [Obama, not Trump], and the largest natural gas producer for years [Obama, not Trump]. ...
.
"The United States does rank first internationally in petroleum, crude oil, and natural gas production, though it ranks third in the world in coal production. Meanwhile, only for crude oil was the No. 1 spot achieved recently. For petroleum and natural gas, the United States has ranked first for years [Obama].
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Point number 2:
.
This is what climate science is about, too. Over millions of years, the earth reached an equilibrium between CO2 released by natural sources and sequestration of CO2 by natural sources. Beginning with the Industrial Revolution in the 1800s, anthropogenic CO2 starting adding more and more CO2 to the atmosphere than could be sequestered by natural means and that threw off the delicate equilibrium. It started out as only a tiny amount of "excess" CO2 but the CO2 burden is cumulative. For the last 10 years or so, the "excess" CO2 released by man made sources has been around 40 billion tons per year. That's only around 4% of total (natural and man made) CO2 released into the atmosphere but IT IS ENOUGH TO TIP THE SYSTEM INTO DISEQUILIBRIUM and disturb other climate factors (loss of arctic ice; loss of coral reefs; loss of snow cover and decreasing albedo; etc.) that work together, TIP BY TIP, to TIP the system further and faster.
-- Modified on 6/20/2021 6:01:27 PM
They are causing oil prices to rise and will keep doing so UNTIL prices are so high, they will finally be able to point to something else and say its cheaper, and by comparison to an artificially high oil price, it WILL be cheaper, and Joe will get a pass on raising oil prices because he will sponsor a THEN-cheaper alternative. The sad part is that the Dems are so stupid they will buy into the whole plan while conservatives will want to go back to "why can't we just bring the oil prices back down through increased supply." Duh!
Too bad the enterprising oil and gas companies figured out how to produce more of both despite all of Obamas efforts to kill them/us.
The problem for Joe of course is that he wants to end the use of fossil fuels without anything to replace no matter how much it costs. Unless, and possibly even if oil surpasses $200 BBL it will still be the cheapest alternative given our current technology