He who controls the spice, controls the universe.
Gas
- Thread starter jbs2014
- Start date
Help Support Long Range Hunting Forum
i said nothing about the XL pipeline. i dont think it has anything to do with it. it wasnt even done when brandon halted construction. all he did was kill several thousand jobs.
per the article i quoted, he turned off 25% of the production. the pandemic didnt help anything. they were expecting as prices to rise in 2022 prior to russia invading ukraine. you can find articles stating such from december of 21 and january of 22.
per the article i quoted, he turned off 25% of the production. the pandemic didnt help anything. they were expecting as prices to rise in 2022 prior to russia invading ukraine. you can find articles stating such from december of 21 and january of 22.
Please provide the links. I can't find anything about this.
I have read allot of articles on the matter from both political points of view as well as some that were "non partisan" and I can't find that reason anywhere. Of course, is it the government that is regulating this or the big oil companies?
it's in the link i first sent you. my point is that biden cut production when he first got into office as part of his climate agenda. as always, over regulation on the democrats part kills growth and investment.
dont take my ramblings to mean that i'm for one side or the other. they're both huge wastes of space, time and money but it's the system we're stuck with.
I can't find in the article where Biden cut off 25% of production. It states that nearly 25% of oil comes from federal lands which Biden never cut off the production of oil on federal lands. That article was written shortly after Biden took office. There are still leases and permits being issued.
I have no doubt that what Biden did, caused oil prices to go up. Its was extremely poor timing on his part. You don't hit the oil companies after they took the hit that they did in 2020. Its something you do when oil prices are low and you work it in slowly so it does not have any dramatic affect. I don't believe for a second that its the reason gas prices are so high. The financial collapse of the oil industry in 2020 plays the most significant role in oil prices today. Drill baby drill almost destroyed the industry and its still reeling from it. I doubt we will ever see gas prices below $3 a gallon ever again regardless of who gets elected next.
my mistake, i read it again and production isnt being cut by 25%. i treat these politicians like head coaches. if they're in charge when something happens, good or bad, they get the blame or credit.
shortgrass
Well-Known Member
I heard one of the talking heads say that investment by energy investors was down by 49%. Demonize the oil companies enough and those who have the money to invest in wells will find something else to put their money into. You can complain all you want about the big oil companies, but it's the small, independent producers that drill new and produce in the lower 48. I searched "oil refiners in Oklahoma". I see 5. Hollyfrontier has 2 up around Tulsa, Phillips 66 has 1 at Ponca city, Valero has 1 at Ardmore, and CVR has 1 at Wynnewood. The only company that has their name on producing wells is Phillips 66. Valero is a refiner, but those Valero stations are franchises, owned by an individual or small company. I've never seen a sign at a well site for CVR, Valero or Hollyfrontier, they buy from those small independent producers. It's commodity speculators that have set the price per barrel, based on supply and demand world wide. An oil/gas well doesn't produce forever once it's drilled. Sooner or later it goes 'dry' and gets plugged.
632 of those independent producers went under in 2020 and were never seen from again and the big oil companies lost almost $80 billion. I would think that would be a bigger reason not to invest.
it would have been considered a risky investment when we were regularly having lockdowns and nobody was driving but that's not the case anymore. biden has only done things to discourage investment in oil production.
It would continue to be a risky investment until the oil companies fully recovered and even then it would take some time to regain confidence. Biden's policies have triggered oil prices to go up. I would think an investor would see it as an opportunity to invest especially seeing the dividends the oil companies have been paying out since Biden took office.
