09-11-2023, 01:56 PM
(09-08-2023, 10:38 PM)LSUfaninTN Wrote: [*][*]
No. The amount we produce is only one factor… the main one is that it is not keeping up with the demand. We currently import 25% of our oil needs. The Keystone pipeline would have produced 830,000 barrels a day before moron castrated it. That is not an insignificant number considering we use 20 million a day. Not to mention, employed 11,000 people. When you add to that the fact that Biden paused new leases on federal land, added a lot of red tape for permits, spent so much time shit talking oil companies to the point where Saudi Arabia laughs their asses off when he begs them to produce more because he’s coming from a place of weakness… I mean, the dude has crippled us. If you don’t realize that, then sorry, I can’t help ya there.
It is mind blowing how much the media protects this guy. Trump made a typo on a tweet and they were saying he had dementia… Biden shakes hands with a ghost, all’s quiet on the western front. Trump says a positive thing about Putin, he’s “colluding.” Biden lets a spy balloon fly over military bases, all’s quiet on the western front again. He’s an absolute embarrassment in not only how he conducts himself but also his policies. I truly don’t get it.
Well, yes, I am aware that demand is also part of it. I work in O&G, as does Stewy. Stewy in particular is a geoscientist. I manage our commodity system. I'm in our weekly supply demand meetings. The U.S. has always imported oil, but right now we are importing less of it than we have in nearly 30 years. Again, we are producing oil at an all-time high right now. That's straight from the EIA data. Nothing what you are saying refutes my original point - Biden's policies are not significantly affecting oil prices right now. I am under no illusion that he is some friend of the industry, but these things take time - a lot of time. Oil projects are very slowly to come online. I think that if we see high prices in 5-10 years, we can look back at the Biden presidency and find things to point to. However, they aren't affecting it right now. Increased demand after COVID, global production cuts, refineries going offline due to technical issues, delays at the Panama Canal, Russia invading Ukraine. These are all major global events that are affecting hydrocarbon prices around the world.
