Well, you are the obstacle to lowering them, so you're just complaining about something that could be solved if it wasn't for you standing in the way.
Domestic oil production booming under Biden
- Thread starter Cypress
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Well, you are the obstacle to lowering them, so you're just complaining about something that could be solved if it wasn't for you standing in the way.
The dollar did not decline 30% in value.
In fact, the dollar ROSE on its value vs. the Euro and the Canadian dollar over 2022.
The reason you say wrong things like this is because you don't believe any of it, and there's no one to hold you accountable since you won't hold yourself accountable.
Into the Night
Verified User
Still can't get your head wrapped around markets, can ya?
Into the Night
Verified User
WRONG. You still can't your head wrapped around markets.
Into the Night
Verified User
Still can't your head wrapped around markets, can ya?
You are not explaining capitalism.
Into the Night
Verified User
Biden caused supply to be curtailed because he cancelled drilling permits.
You still can't yer head wrapped around markets.
Global oil markets.
You don't seem to understand them.
Global oil markets are controlled by OPEC because they own a plurality of global production. So whatever OPEC wants the price per barrel to be, that's what it will be.
If US oil companies increase production, that will result in lower per-barrel prices, so OPEC will simply cut their production to make up for US production increases, keeping the price per barrel static.
This is a concept you seem unable to grasp, and that's because you don't really believe any of the shit you say here.
Into the Night
Verified User
WRONG. You still can't get your head wrapped around markets.
Into the Night
Verified User
Inversion fallacy. You are describing yourself again.
No, they are not.
No. OPEC cannot dictate oil market prices
Which will simply drive OPEC out of business. Fortunately, for OPEC, they are a lot smarter than you are.
Nope. I'm 100% right because unlike you, I actually believe and accept the concept of supply & demand.
The more oil that is produced, the lower the price per barrel will be; so it is never in an oil company's interest to increase domestic production because doing so will reduce their bottom line.
So the dissonance in your argument remains because there is simply no way to permanently increase the supply of oil without lowering its price and lowering profits for oil companies.
If there was, it would have happened by now.
You seem unable to understand that oil markets are global and since they're global, they are controlled by whoever produces a plurality of the commodity...in this case, OPEC.
All US oil companies can do is react to whatever OPEC does.
So if OPEC increases production, then US oil companies CUT production in order to maintain a static supply.
US oil companies will always be chasing OPEC because OPEC has a plurality in the global markets, so everyone has to react to them.
You don't understand this because you don't believe in capitalism.
Oh, I'm explaining it clearly, you just aren't understanding it because you have no beliefs of your own to refer to.
The permits didn't produce a single drop of oil, so nothing was curtailed.
But oil companies sure curtailed their production, which is why the price rose because oil prices only rise and fall based on production, and OPEC is the leader there.
Oil companies have 1000's of leases right now they aren't drilling on because drilling on them would reduce the price per barrel and thus, reduce their profits.
Capitalism ruins your fantasy.
There is no world in which increasing the supply of oil by increasing production would result in higher profits for the oil companies.
You don't seem to grasp that oil markets are global, not local, and the global price is set by whoever produces the most, OPEC in this case.
Then show us how more oil production leads to higher profits, or shut the fuck up.
You're the one who foolishly believes that oil companies can make higher profits by lowering the price per barrel.
Yes, they absolutely are.
OPEC has so much control over the global oil markets that they can bankrupt US oil and gas companies simply by increasing production so much that the price per barrel drops 50%.
In fact, that's exactly what happened in 2015.
Yes they can and they have, most recently in 2015 when they increased production so much it dropped the price per barrel by 50%, resulting in over $100B in US oil and gas bankruptcies, and a federal bailout of TX, ND, and OK.
LMAO!
So back in 2015, OPEC increased production and it resulted in a 50% decline in the price-per-barrel.
That resulted in $100B of US oil and natural gas bankruptcies.
You don't know much about the markets if you think OPEC doesn't have control.
All you can do is vaguely refer to "the markets", but you don't seem to know much about them which is why you think increasing the supply will lead to higher oil company profits.