Oil

[Stewy]

(03-03-2022, 10:29 PM)NATI BENGALS Wrote: Couple things.

You said Trump took over 2 years after an oil price crash. And from the way it was written you are using that as an excuse to acknowledge Biden had more drilling permits issued than Trump in his first year.

Ok what about the oil price crash of 2020? Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat
https://www.eia.gov/todayinenergy/detail.php?id=46336
From my understanding that did plenty of damage to the oil industry on top of other natural disasters that hurt refining right before Biden took over. And prices crashed harder in that scenario than the one you give trump a pass for.

A year is a year. And a total is a total. If i make $60,000 annually I make less than if I make $100,000 annually. No matter how you put it. Trump never even had a BLM leader approved by the senate, I know he had some acting clown who wanted to sell the land. He also moved the headquarters out of DC resulting in a massive loss of workers. Either way Biden approved more drilling permits in his first year than trump did.

You say Biden is screwing with the industry? The entire direction of the country was to reduce our dependence on fossil fuels. I seem to remember a former POTUS inserting an Exxon executive as secretary of state and rolling back environmental regulations and moving us backwards. It's been acknowledged earlier in this thread that we can do renewables and greatly reduce our dependence on fossil fuels. That will never happen when one administration tries to advance our country forward and do what we all know is possible and another comes in and slams it in reverse. As far as I'm concerned our dependence on fossil fuels will continue as long as we have administrations come in and steer us directly towards fossil fuels. 


How many drilling permit applications is the Biden administration responsible for? I'd imagine zero. They come from industry I assume? So how is that a knock on Biden?

Firstly you are being far more defensive than my responses demand.

Secondly and I'm going to put this out there on the table....I hate Trump.  I think he is a criminal a misogynist, a hypocrite, a liar and thief and an all around criminal.  He is an embarrassment to the country.  I did NOT vote for Trump either time, but I did vote for Biden, because Trump is an insane narcissist.  Also I am a register Republican that is switching parties because the repub's have lost their way.  i do not vote for someone for my own gain.  I vote for what's best for the country and Trump needed to go, even if electing Biden has damaged my industry in the US.  I am attacking Biden for what he deserves being attacked about and pointing out his ignorance and hypocrisy, which has nothing to do with him being a Democrat and certainly nothing to do with Trump.

Thirdly, you highlighted one part of that paragraph and either didn't read or ignored the rest because your answer was in the very next sentence.  Let's read the whole thing, shall we?

Quote: i can elaborate on this if you like, but basically trumps first year of 2017 was 2 years after the oil price crash.  1/3 of hte industry had been laid off, drilling budgets had been slashed by 50% industry wide, Oil Shales which made so much money at 100$, were losing money at 40$.  Companies were going bankrupt

The stability of the industry matters.  And keep in mind in a following paragraph AND in the Woodmac article I linked, it clearly explained that the 35% growth was backlog acceleration, and in fact the number of NEW permits submitted had been less.  So Biden is basically taking a political beating for something he didn't do or deserve, because no one writing the articles got the actual facts straight except WoodMac.  And from looking through google, the POTUS never corrected the mis-information, which tells me.....ignorance.

2020 was not a crash.  it was a spike brought upon by statistical anomaly.  It literally lasted 1-2 days.  It might as well have not even happened.  It was flat considering before and after as you say, which means it was a spike, not a trend.  People, especially the press love to make a big deal out of it, but it was essentially nothing but a statistical blip.  Weird, but nothing.

Biden did nothing with permits.  The BLM did their jobs.  Period.  Neither Biden nor Trump are responsible for approving permits...they can take the responsibility, but that's just stupid.  Non-partisan lifelong govt employees do that job issues the permits unless the POTUS is interfering, which it did as long as it could before they were about to get sued for violating federal law, then they sent it back to the BLM.  Try to make Biden the hero if it makes you feel better, but I've proven that he had nothing to do with the higher numbers other than a rubber stamp applied by someone else.

Spin it however you like and float your rhetoric, but the facts aren't swayed.  The infrastructure, the auto industry, the power generation capacity and the energy producers (renewable and not) cannot flip a switch for Biden.  Changing the country and the world will require a plan, which leads to gentle transition, not abrupt change.  If anyone thinks differently then they just don't know jack.  Learn lessons from UK's big mistake or ignore them if you please.

To your last point which seems to be a repeat of a previous one....as I said before, which i guess you missed, I acknowledge that Biden isn't responsible for the drilling permits.  he did mess with the process by having 10 people without knowledge of the process approve them in DC for a couple months.  But companies do not submit permits to him.  So what?  Just because it is clearly not his fault doesn't mean i can't be amused he's taking an unjustified political beating for it.  If he and his advisors actually knew jack shyt about the O&G industry, they could have issued a statement which corrected the mis-information in the press, but they did not because they're ignorant.  If they would work with the industry instead of treating it like the enemy, then it would be better for the country as a whole.

FYI - in another version of story time, I'll share that Trump did more to damage the O&G industry during his tenure as POTUS than Biden could imagine.  

And BTW, I'm done responding to you.  You seem to want to make this about Biden vs. Trump, like every other thread in this forum, and I have no interest in that.  Feel free to respond, but I'm done with you.