Biden's war on oil continues

[Into the Night]

My dear most every car manufacturer is committed to an all electric fleet with the coming years. If it was up to your kind, we would still be driving a horse and buggy.

Not true, Luddite. Making shit up is not going to help you.

 

[Into the Night]

I don't understand why they don't use a small diesel engine to make electricity (flywheel/alternator) for a large electric motor.

Not too many batteries needed, lots of torque, not too many moving parts.

You just described a diesel-electric locomotive. It's actually a large diesel engine.
You can't make energy out of nothing.

 

[LV426]

That's right about about when the Covid panic was induced.

Nope, that didn't happen until March.

In February, you and Trump were calling COVID a hoax, saying it was no worse than the flu, and were praising China for their mitigation efforts.

 

[LV426]

How'd nationalizing oil production in Venezuela work out for them?

It was fine until the price of oil cratered thanks to OPEC production increases.

Venezuela relied on oil revenues to carry its budget, so when the price of oil declined, their revenues declined as well and that forced the budget chaos that ended up engulfing the country. But we're not like Venezuela in that we don't rely on oil revenues to carry our budgets...well, the federal government doesn't; certain states, like Texas, do rely heavily on oil revenues to pad its budgets.

The exact same thing that happened to Venezuela also happened to Texas, Oklahoma, and North Dakota in 2015-16. But unlike Venezuela, those three states had the federal government around to bail them out when their oil revenues plummeted thanks to OPEC production increases.

 

[T. A. Gardner]

It was fine until the price of oil cratered thanks to OPEC production increases.

Venezuela relied on oil revenues to carry its budget, so when the price of oil declined, their revenues declined as well and that forced the budget chaos that ended up engulfing the country. But we're not like Venezuela in that we don't rely on oil revenues to carry our budgets...well, the federal government doesn't; certain states, like Texas, do rely heavily on oil revenues to pad its budgets.

The exact same thing that happened to Venezuela also happened to Texas, Oklahoma, and North Dakota in 2015-16. But unlike Venezuela, those three states had the federal government around to bail them out when their oil revenues plummeted thanks to OPEC production increases.

No, it was Chavez expropriating the oil companies in his country and his own incompetence in running that industry afterwards:

In 2007 oil prices were rising, and the Chávez government sought more revenue as the investments made by the international oil companies began to pay off. Venezuela demanded changes to the agreements made by the international oil companies that would give PDVSA majority control of the projects.

ExxonMobil and ConocoPhillips refused, and as a result, their assets were expropriated. (These expropriations were later ruled to be illegal, and compensation was granted to both companies).

So there are two related causes that have resulted in the steep decline of Venezuela's oil production, despite the the country's top rank in proved reserves.

The first is the removal of expertise required to develop the country's heavy oil. This started with the firing of PDVSA employees in 2003 and continued with pushing international expertise out of the country in 2007.

Second, the Chávez government failed to appreciate the level of capital expenditures required to continue developing the country's oil. This was in no small part due to inexperience among the Chávez loyalists that were now running PDVSA.

When oil prices were high, Chávez funneled billions from the oil industry into the country's social programs. But he failed to reinvest adequately in this capital-intensive industry.

Following the 2007 expropriations, Venezuela's oil production went on a steep decline. In 2018, Venezuela's oil production fell to 1.5 million BPD, a decrease of more than 50% below 2006 levels.

https://www.forbes.com/sites/rrapie...e-of-venezuelas-oil-industry/?sh=15d824c34ecd

https://www.cfr.org/backgrounder/venezuela-crisis

 

[LV426]

When oil prices were high, Chávez funneled billions from the oil industry into the country's social programs. But he failed to reinvest adequately in this capital-intensive industry.

Again, you're avoiding the uncomfortable fact that Venezuela, like the US, cannot have a permanent and/or lasting impact on the price per barrel because Venezuela isn't driving the oil market, OPEC is.

So right here your link talks about how Chavez and Venezuela's fortunes (revenues) are tied to the price per barrel. So Chavez funneled billions into social programs, as you correctly state, when the price per barrel was really high.

But once those oil revenues started declining because of OPEC production increases, that killed the revenue Venezuela was counting on to fund its budgets.

Venezuela cut back its oil production in order to maintain the global price per barrel it was getting.

 

[Nordberg]

A new Subaru Impreza (a gasoline car) retails for $18,750. A new Tesla Model 3 (short range version) retails for $46990.
Source: Subaru, Tesla

Do you understand how dishonest that post was? Are you capable? The average car cost over 47K. I gave you the blue book up to date info. You reply with a select cheap car comparing it to the highest price EV, Tesla. Why don't you compare Tesla to Ferrari or Rolls Royce? I cannot believe what a dishonest poster you are. Have you no shame?
And this is without factoring in the huge amount of money you will save in gas.

 

[floridafan]

Not true, Luddite. Making shit up is not going to help you.

Totally and completely correct my dear. The only auto manufacturer having some misgiving about having an all electric fleet is Toyota.
Now if you are going to shoot your big mouth off and say something isn't true, go and prove it. I couldn't give a shit about your personal opinions.

 

[Matt Dillon]

You just described a diesel-electric locomotive. It's actually a large diesel engine.
You can't make energy out of nothing.

That's where the Idea comes from..large flywheel + stator or alternator makin' lots of juice for the electric motor.

The diesel motor would not have to be so big. (and could be run at a constant speed)

 

[Matt Dillon]

Do you understand how dishonest that post was? Are you capable? The average car cost over 47K. I gave you the blue book up to date info. You reply with a select cheap car comparing it to the highest price EV, Tesla. Why don't you compare Tesla to Ferrari or Rolls Royce? I cannot believe what a dishonest poster you are. Have you no shame?
And this is without factoring in the huge amount of money you will save in gas.

Do you know why that is, NerdSpergy? It's because Obama's "Cash4Clunkers" scheme removed almost all post ww2 affordable vehicles from America. And he used taxpayer money to do it, paying $4k a pop.

It should never have been allowed.

In essence it was government takeover of private property.

 

[Matt Dillon]

Again, you're avoiding the uncomfortable fact that Venezuela, like the US, cannot have a permanent and/or lasting impact on the price per barrel because Venezuela isn't driving the oil market, OPEC is.

So right here your link talks about how Chavez and Venezuela's fortunes (revenues) are tied to the price per barrel. So Chavez funneled billions into social programs, as you correctly state, when the price per barrel was really high.

But once those oil revenues started declining because of OPEC production increases, that killed the revenue Venezuela was counting on to fund its budgets.

Venezuela cut back its oil production in order to maintain the global price per barrel it was getting.

The US was driving oil prices when Trump was president. OPEC had to cut production.

https://www.forex.com/en/market-ana...t-to-ignore-trump-and-cut-crude-oil-supplies/

 

[Matt Dillon]

""We’ve gone from within a year being energy independent to groveling before OPEC to ask them to increase world supply because our gasoline prices have gone up so much. That is the, so far, legacy of this administration," Sen. Bill Cassidy of Louisiana said during a recent Energy and Natural Resources Committee hearing."

https://www.washingtonexaminer.com/policy/charts-how-fossil-fuels-have-fared-under-biden

 

[LV426]

The US was driving oil prices when Trump was president. OPEC had to cut production.

Right, OPEC cut production and what happened to the price per barrel after they did?

 

[Into the Night]

Nope, that didn't happen until March.

In February, you and Trump were calling COVID a hoax, saying it was no worse than the flu, and were praising China for their mitigation efforts.

No. YOU were calling Covid a hoax. Then you realized the fear mongering value of it, and created the hoax around fear mongering.
It is the mildest variant of the Covid/SARS so far discovered. It does not kill.

Some influenza viruses CAN kill.

 

[Into the Night]

It was fine

It never was.

until the price of oil cratered thanks to OPEC production increases.

Nothing to do with it.

Venezuela relied on oil revenues to carry its budget, so when the price of oil declined, their revenues declined as well and that forced the budget chaos that ended up engulfing the country.

Not about the budget of the Venezuela.

But we're not like Venezuela in that we don't rely on oil revenues to carry our budgets...well, the federal government doesn't; certain states, like Texas, do rely heavily on oil revenues to pad its budgets.

Not about taxes.

The exact same thing that happened to Venezuela also happened to Texas, Oklahoma, and North Dakota in 2015-16. But unlike Venezuela, those three states had the federal government around to bail them out when their oil revenues plummeted thanks to OPEC production increases.

Not about government budgets.

 

[Into the Night]

Again, you're avoiding the uncomfortable fact that Venezuela, like the US, cannot have a permanent and/or lasting impact on the price per barrel because Venezuela isn't driving the oil market, OPEC is.

OPEC does not have this capability.

So right here your link talks about how Chavez and Venezuela's fortunes (revenues) are tied to the price per barrel.

So Chavez funneled billions into social programs, as you correctly state, when the price per barrel was really high.

Government theft has nothing to do with the price of oil, dumbass. Oil in 2007 was approx $32/barrel. Today, it is approx $100/barrel. Source: commodity markets, price history, West Texas spot prices.

But once those oil revenues started declining because of OPEC production increases, that killed the revenue Venezuela was counting on to fund its budgets.

Not about government budgets, dude.

Venezuela cut back its oil production in order to maintain the global price per barrel it was getting.

Venezuela does not have the capability to set oil prices.

Oil prices are set by price discovery...a concept you can't understand because of your own socialistic beliefs.

 

[Into the Night]

Totally and completely correct my dear. The only auto manufacturer having some misgiving about having an all electric fleet is Toyota.

You don't get to speak for all auto manufacturers.

At this point the only manufacturer that has announced they are going all electric is Government Motors, and of course, Tesla.

Now if you are going to shoot your big mouth off and say something isn't true, go and prove it. I couldn't give a shit about your personal opinions.

Buzzword fallacy. Denial of history. Speculation. You don't give a shit about anybody's opinions except your own.

 

[Into the Night]

That's where the Idea comes from..large flywheel + stator or alternator makin' lots of juice for the electric motor.

The diesel motor would not have to be so big. (and could be run at a constant speed)

No, it can't. It varies in speed to provide the needed power at the time. Running a diesel engine faster for the same power output just wears out the engine and consumes the same fuel.

 

[Into the Night]

That's where the Idea comes from..large flywheel + stator or alternator makin' lots of juice for the electric motor.

The diesel motor would not have to be so big. (and could be run at a constant speed)

No, it can't. It varies in speed to provide the needed power at the time. Running a diesel engine faster for the same power output just wears out the engine and consumes the same fuel. Listen to one start to pull a train out of the yard. Once the engineer has stretched the train, you will hear that ole' diesel spinning up to provide for the increased demand for electric power to the traction wheels.

The throttle governs the electrical power distribution (via duty cycle variance). The diesel engine is controlled by a governor, which in turn is controlled by a load sensor (generator load).

 

[Into the Night]

The US was driving oil prices when Trump was president. OPEC had to cut production.

https://www.forex.com/en/market-ana...t-to-ignore-trump-and-cut-crude-oil-supplies/

The U.S. does not have the ability to set oil prices.

Plentiful exports from the U.S. did provide for significantly more supply on the market, driving prices down.

Without that supply, oil prices are going up.