OPEC Head Warns ‘Dangerous’ Underinvestment in Oil Could Push Up Prices to $100

[Althea]

I doubt that. The people pushing EV's and the whole greentard agenda live in large urban areas and have no concept of any other lifestyles. For them everything is, at most, a few miles away.

And that's where EV works best. Especially for all fleet vehicles.

EV should be used where it performs best, and hybrids should be used elsewhere.

 

[Althea]

Oil can invest whatever they want. Investment can go way up. Oh yeah, you want our tax money to go to them.

I can't see the OP, but right now oil 'invests' in dividends,share buybacks, CEO bonuses, and lobbying.

 

[Althea]

“Epoch times,” too funny

And by the way, the US exports nearly forty percent of all the oil it produces, so I don’t think “underinvestment” is the problem if you are looking for energy independence

That term, like Arab Spring, is dead.

The U.S fracking industry is no better than OPEC, and Wall St. is largely to blame.

They realized that during the boom, they dragged the price of oil down. Many went out of business when Saudi Arabia reminded them who the real boss is by flooding the market with oil.

Now, the specific aim is to limit production in order to keep prices high.

Oil is crashing because of reduced demand. The industry blames Saudi Arabia for creating prices that were just high enough to force people to use less fuel.

Oil dropped more than $10/bbl in the last week, and the forecast is for mid $70-$80/bbl for next year.

Russia/S.A. cannot afford to cut production much more, even though the U.S refuses to increase production.

 

[Nordberg]

We are shutting down wells every month. Biden wants to destroy domestic oil production. That is millions of barrels of oil a day gone

Who is we? They are private corporations. They are shutting down what does not make enough money. You do not know how anything works. Oil companies can see the future.

 

[T. A. Gardner]

And that's where EV works best. Especially for all fleet vehicles.

EV should be used where it performs best, and hybrids should be used elsewhere.

The government isn't giving anyone that choice though. Hybrids because they are not zero emissions, are excluded from mandates for zero emission vehicles.

 

[Into the Night]

“Epoch times,” too funny

And by the way, the US exports nearly forty percent of all the oil it produces, so I don’t think “underinvestment” is the problem if you are looking for energy independence

Bulverism fallacy. Argument from randU fallacy.

 

[Into the Night]

And that's where EV works best. Especially for all fleet vehicles.

EV should be used where it performs best, and hybrids should be used elsewhere.

The EV doesn't work.

They are expensive, both to buy and to maintain.
They are a significant fire risk.
They have limited range and take too long to recharge.
They waste energy.

 

[Into the Night]

I can't see the OP, but right now oil 'invests' in dividends,share buybacks, CEO bonuses, and lobbying.

There is no company or individual called 'oil'.

 

[Althea]

The government isn't giving anyone that choice though. Hybrids because they are not zero emissions, are excluded from mandates for zero emission vehicles.

What govt?

 

[Into the Night]

That term, like Arab Spring, is dead.

It never was alive.

The U.S fracking industry is no better than OPEC, and Wall St. is largely to blame.

Fracking is thousands of years old. OPEC did not invent it and neither did anyone on Wall St.

They realized that during the boom, they dragged the price of oil down. Many went out of business when Saudi Arabia reminded them who the real boss is by flooding the market with oil.

Saudi Arabia is not the boss. They cannot just dictate oil prices.

Now, the specific aim is to limit production in order to keep prices high.

They only cut their own profits doing that. Guess they didn't learn from the last time.

Oil is crashing because of reduced demand.

Oil is not crashing.

The industry blames Saudi Arabia for creating prices that were just high enough to force people to use less fuel.

'The industry' has no voice. It can blame anyone for anything.

Oil dropped more than $10/bbl in the last week, and the forecast is for mid $70-$80/bbl for next year.

Fiction.

Russia/S.A. cannot afford to cut production much more, even though the U.S refuses to increase production.

Irrelevant.

 

[Into the Night]

Who is we? They are private corporations. They are shutting down what does not make enough money. You do not know how anything works. Oil companies can see the future.

No one can see the future, Nordbutt.

 

[T. A. Gardner]

What govt?

Many of them:

Norway
The EU
California and 11 other states

To date, more than 20 countries have announced the full phase-out of internal combustion engine (ICE) car sales over the next 10‑30 years
https://www.iea.org/reports/global-ev-outlook-2021/policies-to-promote-electric-vehicle-deployment

 

[Althea]

The government isn't giving anyone that choice though. Hybrids because they are not zero emissions, are excluded from mandates for zero emission vehicles.

What govt?

Many of them:

Norway
The EU
California and 11 other states

To date, more than 20 countries have announced the full phase-out of internal combustion engine (ICE) car sales over the next 10‑30 years
https://www.iea.org/reports/global-ev-outlook-2021/policies-to-promote-electric-vehicle-deployment

You live in Norway?

 

[T. A. Gardner]

You live in Norway?

I'm pointing out that it is worldwide, and that the ONLY reason EV's are gaining traction in the market is because government is forcing them on people with no alternatives.

 

[Althea]

I'm pointing out that it is worldwide, and that the ONLY reason EV's are gaining traction in the market is because government is forcing them on people with no alternatives.

But not the U.S.

 

[T. A. Gardner]

But not the U.S.

To date, 13 states have adopted the ZEV Program (California, Colorado, Connecticut, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont and Washington).
https://dec.vermont.gov/air-quality...Oregon, Rhode Island, Vermont and Washington).

https://www.pbs.org/newshour/nation...adopting-californias-electric-vehicle-mandate

Yes, the US.

 

[Althea]

To date, 13 states have adopted the ZEV Program (California, Colorado, Connecticut, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont and Washington).
https://dec.vermont.gov/air-quality...Oregon, Rhode Island, Vermont and Washington).

https://www.pbs.org/newshour/nation...adopting-californias-electric-vehicle-mandate

Yes, the US.

Yes. In the next decade. I'm sure other nations are much better prepared for charging issues. We are not. The states that have mandates had better be sure about their ability to provide charging.

The Feds have not made any mandates aside from Fed. vehicles being EV by 2035. We'll see how that works out.

Personally, I would never own an EV, but will definitely get a hybrid.

I won't be due for any new vehicles for quite some time, though.

 

[T. A. Gardner]

Yes. In the next decade. I'm sure other nations are much better prepared for charging issues. We are not. The states that have mandates had better be sure about their ability to provide charging.

The Feds have not made any mandates aside from Fed. vehicles being EV by 2035. We'll see how that works out.

Personally, I would never own an EV, but will definitely get a hybrid.

I won't be due for any new vehicles for quite some time, though.

It's coming if the greentards have their way. EV's will be an expensive economic disaster but they don't give a shit. Oh, they'll do ZERO to change the course of Gorebal Warming also.

 

[Althea]

It's coming if the greentards have their way. EV's will be an expensive economic disaster but they don't give a shit. Oh, they'll do ZERO to change the course of Gorebal Warming also.

Cars have been getting much cleaner burning every year. The bulk of climate change comes from filthy electricity production. When we finally destroy the oil/coal lobbies, we'll be in a much better place.

 

[ptif219]

Who is we? They are private corporations. They are shutting down what does not make enough money. You do not know how anything works. Oil companies can see the future.

They do not care since Biden want to end domestic oil production