Domestic oil production booming under Biden

[LV426]

Redefinition fallacy (capitalism<->dictatorship). Psychoquackery.

Disingenuous avoidance tactics.

Not to be believed.

 

[LV426]

They don't 'drive down the price'.

Increasing supply ALWAYS drives down the price because you've increased supply over demand, thus making your commodity less scarce and thus of less value.

 

[LV426]

Prices are set according to market forces,

And what are "market forces"?

 

[LV426]

Cars.
Computers.
Steel.
Oil.
Natural gas.
Wheat.
Walmart.
Amazon.
Cosco.
Electronic components.
Illegal drugs.

...just to name a few.

You were supposed to show us HOW, not list a bunch of random things.

 

[LV426]

OPEC does not control the oil market.

Then how did they bankrupt over 100 oil and natural gas companies in just 12 months?

 

[LV426]

They can issue a bid for their own price...no one else's.

So they lose even MORE money because they have to buy their own oil at a discount to themselves after stupidly increasing the supply so much that no one wants to buy their at their price!

How does that translate into higher profits? That's a LOSS.

 

[LV426]

You can't make a profit in any business without a product or service.

They have the product, they just hold much of it back because that keeps the price high.

 

[LV426]

So you deny the free market. Got it.

You're denying the free market by denying the fact that increased supply leads to lower prices, and lower prices leads to lower profits.

 

[LV426]

Competition.

In what regard?

 

[LV426]

I am not going to write an economics book for you.

Well since you don't know anything about economics, that's a good thing.

 

[LV426]

Never did.

Denial of history.

OPEC just kicked oil into the $30s
August 11, 2015
https://www.cnbc.com/2015/08/11/opec-just-kicked-oil-into-the-30s.html

OPEC cannot dictate oil prices. You are calling fiction 'history'.

OPEC just kicked oil into the $30s
https://www.cnbc.com/2015/08/11/opec-just-kicked-oil-into-the-30s.html

 

[LV426]

OPEC cannot dictate oil prices. You cannot use fiction as 'history'.

OPEC just kicked oil into the $30s
https://www.cnbc.com/2015/08/11/opec-just-kicked-oil-into-the-30s.html

 

[LV426]

Poorly managed. Competition drove them out of business.

What kind of competition? Cheaper oil prices. And what caused cheaper oil prices? OPEC increasing production so much that it drove the price per barrel down into the $30's.

 

[LV426]

Pretty much like any industry.

How were they poorly managed? Show your work. RQAA here.

 

[LV426]

Inversion fallacy.

Who believes this shit? No one.

 

[LV426]

Inversion fallacy.

You have no work to show because you don't know anything about this.

 

[LV426]

No. Trump issued the permits, and Biden cancelled them.

Wait - so why didn't they drill on the permits after Trump issued them?

 

[LV426]

Inversion fallacy.

Nope. Wrong again.

We're getting to the point of the debate now where you just spam the board because you can't show your work and you don't want everyone to know that.

 

[Into the Night]

We're getting to the point of the debate now where you just spam the board because you can't show your work and you don't want everyone to know that.

Inversion fallacy. It is YOU spamming.

You are just repeating yourself (chanting). You continue to ignore capitalism, market forces, the oil market, and Biden's own executive orders. Done here. You have nothing further to say. You are just repeating yourself.

 

[Saint Guinefort]

Nope. Wrong again.

We're getting to the point of the debate now where you just spam the board because you can't show your work and you don't want everyone to know that.

I was under the impression that Into_the_Night STARTS just spamming the board!