Oil headed for $150 without US support for more drilling, Shale CEO Says

QP! said:
The U.S. is pumping oil faster than ever. Republicans don’t care.
GOP presidential candidates are blaming pump prices on President Joe Biden’s clean energy policies, even though the U.S. is churning out record amounts of oil.

...The GOP narrative has a major hole: U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024. ...

... as global oil prices rise and fall in response to banking conditions in Europe, China’s slumping real estate market, Vladimir Putin’s war in Ukraine and the latest maneuvers by Saudi Arabia....

... while the United States’ reliance on OPEC for oil imports has diminished, the country’s fuel market is still dependent on decisions made at the oil cartel’s meetings in Vienna — no matter how much oil comes out of U.S. shale fields.

U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast. That’s up from the most recent trough of 5 million barrels a day in 2008, and probably enough to help the U.S. to keep its title as the No. 1 global crude oil producer...

...That’s because even as oil fields in states like Texas, New Mexico and North Dakota have propelled the United States to the top of the oil producer charts, regional markets still find it easier to import certain grades of crude oil from Canada, Mexico, Saudi Arabia and elsewhere. The U.S. still imports about 40 percent of the oil it consumes, even though exports of crude and petroleum products continue to outstrip those shipments.

No matter how much oil the United States produces, it’s still a familiar story, said Amy Jaffe, a global affairs professor at New York University: Gasoline prices rise when the world’s major economies run hot, and fall when they’re not.

“We believed because the U.S. could drill and be successful that we were in this permanent age of abundance,” Jaffe said in an interview. ”But we’re still facing this fundamental question of how cyclical will this industry continues to be.”...
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Blatant lies.
 
Geeko Sportivo said:
On the Contrary, as Biden says, "DRILL BABY DRILL"!

You are so FULL OF SHIT, it's squirting out your mouth you Troglodyte Knuckle DRAGGING FOOL!

Did you learn this crap from Donald Trump?

You must grow out of the STONE AGE and get on board with the NEW WORLD- AND STOP FOLLOWING DONALD TRUMP!

NEXT!
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Blatant lies.
 
Phantasmal said:
[FONT="]“Most of the refineries were closed due to [COLOR=#040C28]demand loss as a result of the Covid-19 pandemic[/COLOR]. But, aren't these companies earning billions of dollars? Isn't that an argument for keeping these refineries open? There are two points to make on that argument.”[/FONT][/COLOR][COLOR=#5E5E5E][FONT="]Nov 15, 2022

[/FONT]
O7a9 OUZBPKFy46kIbY52zPpwLUVkyeZ2JeKmALAHcCoJMDaCSW6GmRdPeBgQd 8RBya1Q02MsHgqZJYYp3gszG6i7DguZIDdUkcaxXx8rtyCb2AP TwOSPKlfPwAAAABJRU5ErkJggg==

https://www.forbes.com › 2022/11/15

[h=3]Here's Why The U.S. Has Lost Oil Refining Capacity - Forbes[/h]
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No refineries were closed.
 
Nordberg said:
Biden increased drilling permits. How can you be so wrong all the time? https://biologicaldiversity.org/w/n...drilling-approvals-outpace-trumps-2023-01-24/
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LOL. A Federal judge had to reverse his executive order to stop any new leases on Federal Land and in the Gulf (link is for the gulf decision). This isn't because of our crotch whispering pResident, it is in spite of Bribem.

https://www.worldoil.com/news/2023/...g) – A federal court,time to hold the auction.
 
Screw petroleum. You can't eat or cook with it.

Has anybody seen the price of good olive oil lately?

This IS an important subject.
 
I think it's time to remind people of EO 14057, EO 14027, and EO 14096.

Democrats seem to want to ignore that these executive orders even exist.
 
This message is hidden because Into the Night is on your ignore list.

Once again..... ALL THREE OF YOU.
 
Geeko Sportivo said:
On the Contrary, as Biden says, "DRILL BABY DRILL"!

You are so FULL OF SHIT, it's squirting out your mouth you Troglodyte Knuckle DRAGGING FOOL!

Did you learn this crap from Donald Trump?

You must grow out of the STONE AGE and get on board with the NEW WORLD- AND STOP FOLLOWING DONALD TRUMP!

NEXT!

trump-poop.gif
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Biden is banning drilling

https://www.foxnews.com/politics/bi...rilling-ban-across-thousands-acres-new-mexico

https://www.reuters.com/world/us/bi...n-alaska-wildlife-drilling-leases-2023-09-06/

https://www.reuters.com/business/en...ion-gulf-mexico-oil-lease-auction-2023-09-22/
 
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