Domestic oil production booming under Biden

LV426 said:
You didn't disprove anything, you just interjected a barnyard animal noise.

We do not control oil production at all, corporations do, and they only extract the amount of oil necessary to turn the highest profit.

Energy companies do not care about you, they do not care about domestic demand, they do not care about your personal needs.

All they care about is making a profit.

And they achieve that by decreasing production in order to turn the highest profit.
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So the government allowing them to drill or not in all the places they are allowed to and EPA regulations on extraction and refining has nothing to do with the government, right?

:rolleyes: Fucking kick yourself in the ass for me, you fucking idiot!
 
Matt Dillon said:
So the government allowing them to drill or not in all the places they are allowed to and EPA regulations on extraction and refining has nothing to do with the government, right?

:rolleyes: Fucking kick yourself in the ass for me, you fucking idiot!
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Poor loser.
 
Matt Dillon said:
So the government allowing them to drill or not in all the places they are allowed to and EPA regulations on extraction and refining has nothing to do with the government, right?
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They already don't drill on the 1000's of permits they have.

Why don't they drill on any of those 1000's of permits? Because they want to make the highest profit possible, and you don't achieve that by increasing supply YOU STUPID FUCKING MORON.

The thing about dumbasses like you is that you have no fucking conception of supply and demand unless it relates to the opioids you're all addicted to.
 
LV426 said:
They already don't drill on the 1000's permits they have.

Why don't they drill on any of those 1000's of permits? Because they want to make the highest profit possible, and you don't achieve that by increasing supply YOU STUPID FUCKING MORON.

The thing about dumbasses like you is that you have no fucking conception of supply and demand unless it relates to the opioids you're all addicted to.
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Bitch! I got a cousin that does that for a living. The government is slow-walking permits. The cousin's job is to see if wells are viable n stuff.
 
Matt Dillon said:
Fucking kick yourself in the ass for me, you fucking idiot!
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You're so fucking stupid, you don't even know that those oil companies have THOUSANDS of permits they aren't drilling on because by drilling on them, they increase the supply of oil, thus driving down the price and their profits.

They're not in the business of meeting demand, they're in the business of making profits.

Moron.
 
LV426 said:
You're so fucking stupid, you don't even know that those oil companies have THOUSANDS of permits they aren't drilling on because by drilling on them, they increase the supply of oil, thus driving down the price and their profits.

They're not in the business of meeting demand, they're in the business of making profits.

Moron.
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Or maybe there's not much oil where they're permitted to drill. :rolleyes:

Let's see a link to your claim, bitch.
 
LV426 said:
You're so fucking stupid, you don't even know that those oil companies have THOUSANDS of permits they aren't drilling on because by drilling on them, they increase the supply of oil, thus driving down the price and their profits.

They're not in the business of meeting demand, they're in the business of making profits.

Moron.
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Bullshit. More oil sold=more profits. No reason for that to happen.
 
Matt Dillon said:
Bitch! I got a cousin that does that for a living. The government is slow-walking permits. The cousin's job is to see if wells are viable n stuff.
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Stop fucking lying to me.

I know you don't have a cousin that does this for a living; you're just saying that because you can't offer any kind of counter argument to anything I'm saying, because what I'm saying is 100% accurate.

Oil companies are in the business of making PROFITS. And they make profits when the price of oil is high, and the price of oil is high when supply is low.

So that means the corporation is going to cut supply in order to achieve profits, and that means decreasing production.

Basic economics. So basic that my cat understands this, and he licks his own ass. So what's your excuse?
 
LV426 said:
Stop fucking lying to me.

I know you don't have a cousin that does this for a living; you're just saying that because you can't offer any kind of counter argument to anything I'm saying, because what I'm saying is 100% accurate.

Oil companies are in the business of making PROFITS. And they make profits when the price of oil is high, and the price of oil is high when supply is low.

So that means the corporation is going to cut supply in order to achieve profits, and that means decreasing production.

Basic economics. So basic that my cat understands this, and he licks his own ass. So what's your excuse?
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So you say, but no link?

More oil sold (no matter the price as long as not negative) = more profits.

I think all you have is a Daily Kook commie theory.
 
Matt Dillon said:
Bullshit. More oil sold=more profits. No reason for that to happen.
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No...more oil sold = larger supply = lower prices = lower profits.

It is not in an oil company's interest to increase the supply of oil because that means lower profits.

And then, if a producer increases domestic production, OPEC counters that by decreasing their production by the same amount, thus maintaining the price.

OR, OPEC could do that they did in 2015 when they increased production so much that it drove the price of oil down by 50% and led to over $100B in US oil and gas bankruptcies.
 
Matt Dillon said:
More oil sold (no matter the price as long as not negative) = more profits.
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NO! WRONG!

You cannot manufacture demand for energy.

You can manufacture supply, and companies do that by increasing production in order to meet demand, but not the other way around.

This is exactly why supply side economics has always failed.
 
LV426 said:
NO! WRONG!

You cannot manufacture demand for energy.

You can manufacture supply, and companies do that by increasing production in order to meet demand, but not the other way around.

This is exactly why supply side economics has always failed.
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Ah! They're scared to drill because of all the government forced green bullshit talk!

That's what it is.

The demand is there:

" In the
absence of stronger policy action, global oil production would need
to rise 10.2 mb/d by 2026 to meet the expected rebound in demand."

"That marks a dramatic change from recent years when the United
States dominated world supply growth. In the current policy
environment, US production growth is set to resume as investment
and activity levels pick up in tandem with rising prices. Yet any
increase is unlikely to match the lofty levels of the recent past."

:(

https://iea.blob.core.windows.net/assets/1fa45234-bac5-4d89-a532-768960f99d07/Oil_2021-PDF.pdf
 
Matt Dillon said:
Ah! They're scared to drill because of all the government forced green bullshit talk!
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Wrong.

They're not drilling because if they do, that increases production and drives down the price per barrel.

They are in it for the profit, not for the energy needs of US consumers.
 
LV426 said:
What are you fucking talking about?

Do you think oil companies aren't in it solely for the profit?

Do you think oil companies are benevolent?

Do you not believe in capitalism?
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Do you believe in government stifling necessary commodities? Making people pay too much for them?
 
Matt Dillon said:
The demand is there
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But the profit isn't, and since every single oil company is privately owned, they only produce the exact amount of oil that will lead to the highest possible profit.

I love nothing more than watching Conservatives discover how much they hate capitalism.
 
Matt Dillon said:
Do you believe in government stifling necessary commodities?
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Government isn't stifling anything here, private corporations are because they want to make the highest possible profit.

They are purposefully not drilling because doing so increases the supply and drives down the price, and thus the profits.

This isn't very hard to understand.
 
LV426 said:
But the profit isn't, and since every single oil company is privately owned, they only produce the exact amount of oil that will lead to the highest possible profit.

I love nothing more than watching Conservatives discover how much they hate capitalism.
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Yeah, you keep rolling with your Daily Kook theory. FACT: Fuel prices rose to the highest EVER after Biden implemented policy to restrict fuel production.

The US already ran out of fuel due to his policies. There was no "ransomware" attack. That was a cover story. The truth is the US ran out of fuel that day.

Biden has mostly depleted the Strategic Reserve as well. Why would that be happening, LV, Hmm?
 
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