OT US Oil stocks.
- Thread starter PBRME
- Start date
- Status
Not a rumor - It’s happening.
I’ve been holding XLE since April 2020. Time to flip it over to some Dogecoin and Rubles.
I’ve been holding XLE since April 2020. Time to flip it over to some Dogecoin and Rubles.
New all time record high average gas price achieved - $4.173 - 3/8/22
California is at $5.444 and Mississippi is at $3.855. Keep those drills working boys!!
California is at $5.444 and Mississippi is at $3.855. Keep those drills working boys!!
traders are already not buying. this is just politics and symbolic...similar to an SPR release. It won't have any impact on gas prices. keep in mind that iran has been secretly selling and venezuela is a heap of steel and no additional barrels to put on the market. adding either to the market will not have an impact. the only relief will be when people stop driving and return to lockdown. this is not political BS --- this is reality and intentional. the russians caused this to happen in feb instead of june.
Along with some good old-fashioned profit-taking by oil and gas companies. They've seen other commodities and sectors get paid and they see it as their turn at the trough. I don't like it any more than anybody else.
While I 100% get more folks are going back to the office and just generally wanting to get out and do stuff, seems like there's more cars on the roads than ever, which is further sending prices up. The only cure for high prices is high prices.
You can't figure out how allowing the US to get back to normal oil production would benefit the US while having a huge impact on Russia monetarily?
I was curious about that myself. The US active rig count nearly doubled in 2021, and we remained an energy exporter today. US energy production should easily be the highest it’s ever been in the coming months.
If you want to blame the US today, hope you’re ready to give credit in the future because there is a ton of production coming.
If you want to blame the US today, hope you’re ready to give credit in the future because there is a ton of production coming.
I don't think any US company has bought Russian oil in over a week. I think Shell bought some off a tanker but said it would not buy any more. I don't know if Shell is US company or not anymore. Also transportation companies are refusing to transport Russian oil. Ship yard workers are refusing to unload Russian oil in Great Britain. The band has already gone into effect. The private sector has already done it.
Since you have crawled out of your safe space to come out and play why don't you explain how you woke people would handle the idiotic decisions of this administration regarding what is happening now
You literally said it could be fixed with one stroke of the pen, and I asked how so. Let's hear your brilliant solution Big Dawg.
If it were me...
I would throw a Chinese flag on a couple of B-52's and turn Moscow into a pile of rubble. When someone says, "who did this?", I would just play dumb and point to Xi Jinping.
I would throw a Chinese flag on a couple of B-52's and turn Moscow into a pile of rubble. When someone says, "who did this?", I would just play dumb and point to Xi Jinping.
You're not wrong, much of the ban is already baked in. I'm guessing this is more administrative than anything & meant to signal to oil companies that the weight of Uncle Sam is behind them.
Grow up and stop playing the childish game of semantics. Go back to your safe space
I assume he’s talking about the cumbersome regulations that Biden put in effect week one of his term. Frankly they seemed unnecessary. American oil/gas was already orders of magnitude better for the environment than in other parts of the world. You think Russia, China, India, Iran, etc. drills in a more environmentally friendly way? They do not.
Can somebody that has a lot more knowledge than me (which I have none of)
explain why us and Europe halting purchases of Russian oil drives up oil prices significantly? There are other buyers in the oil market like the Chinese that could start buying up Russian oil which could offset some of the loss of the American and European market for the Russians. I would think the Russians would try to sell at a lower price to attract other buyers, and if China began to buy significant quantities of it, then they would buy less from other suppliers (Saudi Arabia for example). In turn, the US and Europe would now buy the Saudi oil that used to be purchased by China. It seems there are too many producers and buyers that an embargo of Russian oil by only a portion of the world would cause a significant price increase.
explain why us and Europe halting purchases of Russian oil drives up oil prices significantly? There are other buyers in the oil market like the Chinese that could start buying up Russian oil which could offset some of the loss of the American and European market for the Russians. I would think the Russians would try to sell at a lower price to attract other buyers, and if China began to buy significant quantities of it, then they would buy less from other suppliers (Saudi Arabia for example). In turn, the US and Europe would now buy the Saudi oil that used to be purchased by China. It seems there are too many producers and buyers that an embargo of Russian oil by only a portion of the world would cause a significant price increase.
There's some posters who know a lot and will give you far more details, but in short it's a jolt to the market & the market is freaking out until it understands what it means. Prices are sky-high everywhere not just USA.
Last edited:
Yep, it's looking increasingly likely that there's a larger lag in the progress of green energy transition than was previously estimated. Western countries are making a valiant effort but it's unlikely they can account for the lack of progress in China, India, Africa, South America, Russia and some Eurasian countries.
Current commitments by countries leave the world on track for a temperature rise of at least 2.7 degrees Celsius this century -- well above a global goal to limit warming to 1.5 degrees C above pre-industrial levels.
The report found that countries' updated Nationally Determined Contributions -- and other commitments made for 2030 but not yet submitted in an updated NDC -- only take an additional 7.5% off predicted annual greenhouse gas emissions in 2030, compared with the previous round of commitments. Reductions of 30% are needed to stay on the least-cost pathway for 2 degrees C and 55% cuts for 1.5 C, it said.
https://www.spglobal.com/commodity-...alling-short-of-global-temperature-goals-unep
Current commitments by countries leave the world on track for a temperature rise of at least 2.7 degrees Celsius this century -- well above a global goal to limit warming to 1.5 degrees C above pre-industrial levels.
The report found that countries' updated Nationally Determined Contributions -- and other commitments made for 2030 but not yet submitted in an updated NDC -- only take an additional 7.5% off predicted annual greenhouse gas emissions in 2030, compared with the previous round of commitments. Reductions of 30% are needed to stay on the least-cost pathway for 2 degrees C and 55% cuts for 1.5 C, it said.
https://www.spglobal.com/commodity-...alling-short-of-global-temperature-goals-unep
Last edited:
I genuinely cant figure out what is reality when it comes to oil production.
One side yells 'drill baby drill' and claims restrictions are killing us.
One side points to production and says the numbers are higher than ever and we net export.
Pretty sure both are using numbers that support their narrative and ignore other numbers.
Are you arguing for nationalized oil?
Our current market is not pen based. The president doesn't set production in any meaningful way that increases bbl prices from 50 to north of 100. Sure, a pt here or there as regulatory ebbs and flows from admin to admin. Would you rather nationalize oil and create a government influenced cartel that can react to pandemics and wars? AmericCo or something? That's what you people that want to blame this on elementary level concepts that don't exist sound like. That would take away the market forces you don't seem to understand - but then you'd be a socialist or communist.
Why doesn't Brandon increase ohwl production? He's the prethident!!1
17ing morons
Our current market is not pen based. The president doesn't set production in any meaningful way that increases bbl prices from 50 to north of 100. Sure, a pt here or there as regulatory ebbs and flows from admin to admin. Would you rather nationalize oil and create a government influenced cartel that can react to pandemics and wars? AmericCo or something? That's what you people that want to blame this on elementary level concepts that don't exist sound like. That would take away the market forces you don't seem to understand - but then you'd be a socialist or communist.
Why doesn't Brandon increase ohwl production? He's the prethident!!1
17ing morons
Forgive me if this is a really dumb question but do any of these grand ideas take in to account public sentiment towards this warp speed conversion to green energy ? I mean what if people go to the polls and vote the aggressive "green deal" pols out in favor of a more conservative approach to changing our energy sources or are we just assuming that can't happen ?
You really think the conversion has been warp speed? This **** has been talked about for decades. 17ing decades. Nothing was done for decades. 17ing decades. Hell, for most of that time there was pushback as to whether or not we are even contributing to the earth's warming. Really, 17ing carbon dioxide being released all over the place, carbon dioxide being fully accepted as trapping heat in the atmosphere, yet preachers and politicians would claim man isnt hurting the planet and it isnt warming. F17S.
A snowball builds speed as it rolls down a mountain. This issue started out small, but it grew and as it grew, it also got faster. If you think our changing to alt energies has been warp speed, how do you feel about the increase in man made environmental issues over the last 15 years?
Someone posted this video on here last week. Turn the sound up and you will understand whats actually changing at warp speed- https://www.youtube.com/watch?v=zDS52cM7Wf4&t=38s
You can have all of the oil in the world, but if you don’t have the refinery capacity it doesn’t matter.
Less Russian oil -> Europe needing other sources -> Higher energy prices in the future -> Traders ‘lock in prices today’ -> higher prices today
I didn't ask for any regurgitated Dem talking points, I simply asked what if we go to the polls and the majority doesn't like the way we are approaching this. And if you can't answer without going into one of your mindless rants, take a knee and sit this one out .
Last edited:
Time to put our money where our mouth is
Been a lot of hammering on getting off any foreign oil tap and be completely self sufficient.
Here's our chance to prove that out.
Been a lot of hammering on getting off any foreign oil tap and be completely self sufficient.
Here's our chance to prove that out.
I didnt regurgitate anything other than reality. I typed that out because part of the issue here is that you(and many others) seem to think this is warp speed when it actually is anything but that. Its been a long and slow process of dragging people thru the door and into the light.
As for a direct answer to your question- if people elect representatives who want to change how the country is handing its glacially slow move away from carbon fuel, then those representatives will change the current incentives, laws, etc. Your what if is a pretty easy and obvious one to answer, I didnt think it needed to actually be answered as it was so obvious I figured it was rhetorical. Again- if enough people dislike it, they will vote for representatives who will change things.
What I meant by "warp speed" was Biden's immediate actions when he got into office to curtail American fossil fuel production while being nowhere near prepared to convert to alternative energy. I'm not saying it doesn't need to be done, I'm saying he put us in a precarious position with his haste. Why not push the envelope on the other end and get more adequately prepared to make the conversion before we try to pull the plug on significant amounts of domestic fossil fuels putting the country under uncalled for financial distress thus forcing voters to vote for their current financial survival rather rather than than something that's going to happen in the future .
Last edited:
Our refining capacity has remained around 18Million Barrels per day for roughly the last decade. You want to decrease fuel prices, build more refineries.
Gotcha, thanks for the clarification.
A slower implementation may have been better. At the same time, one common complaint about government is how slowly it works, and here is an instance where it working to quickly is also complained about.
We have been pushing off required changes for years now. Each time a different party comes into power, they change things that the prior administration was working on. There is no way a 10 year implementation plan would ever last because in less than 3 years there will be a Republican in the office and it is very reasonable to assume they would change a bunch of climate/energy policies. In that instance, the best way to ensure your goals are realized is to push em thru.
I am not saying I agree with what has happened, I just understand the idea of rushing it if it is looked at from an administration's perspective.
I am 57 years old and I have been hearing this bull **** forever. When I was a little boy, I was scared to death hearing the earth is going to go into another ice age in 30 years because of pollution. Did not happen. In the 80's all I heard was acid rain and a hole in the ozone layer. Yep that scared the **** out of me but nothing happened. Then it went from new ice age in the 70's to global warming in the 90's. That did not pan out like they thought and now it is man made climate change. The narrative keeps changing. It's all about grant money to scientist and university. It is all bull ****. I agree the climate is changing. The climate has always change and if every human on this earth disappeared today the climate would keep on changing. Ice caps form and ice caps melt. That is caused by polarity shift. There is a massing polarity shift going on right now. The South pole move more in the past 100 years than it did in the previous 1000 years. That is more scary than carbon dioxide.
I am not falling for the bull **** any more. They over played their hand.
Last edited:
I'm old enough to remember the last few times I've been told that the world was going to end by climate change extremists. They have about the same success rate as those preachers who predict the apocalypse.
Being the capitalists that they are, I don't think Republicans are going to turn their backs on the huge commitments car manufactures have made to EV's and the trend they represent. I would hope their approach would be to get this done in an orderly manner that allows us to keep our quality of life high through the transition. I believe the country would accept this. The Dems have taken on the appearance of trying to force change through higher gas prices and utility bills and I believe it's about to cost them.
- Status
Latest posts
Get unlimited access today.