snox801
Well-Known Member
Well you are flat wrong about this.Russia produces oil today. Practically every country in the world at one point was buying russian oil. Russia produces 10% of the worlds oil supply. The xl pipeline does not produce oil. It moves it and it is not in production today. If it were in production, it would move less than 1% of the world's oil. Again, move it not produce it. The oil that it would have moved will still be produced and moved another way. Russia has an affect on supply and demand. The xl pipeline does not. The 2 are in no way similar.
I never said if we produce more oil, it would not drive the price down. I said we pay whatever the market rate is regardless of how much we produce so even if we were to produce all the worlds oil, we will still pay whatever the market will bare. We don't get a discount because it came from here. The US alone cannot drive the price of oil back down to what it was pre-pandemic. It can lower it considerably but not cut the price of oil in half. Of course, they are not doing it because they don't see the need because they are making more money than they ever have before by not producing more oil. We were not the only ones who reduced the production of oil. Other oil producers would need to start producing more as well which is why the administration has been trying to get them to up their productions. Also, if other oil producers start producing more, it could trigger US oil companies to start producing more oil.
Pipeline moves it yes but again you are shifting focus the whole industry matters when talking supply and demand.
First pump all the oil you want. If you can't transport it effectively then it's not a good supply prices go up.
Second how can you in the same conversation say it only will move 1 percent of the oil supply so that won't impact anything but turn around and say oh Russia caused this and they are a small amount. It all adds up after while 1 percent here 10 over here. You can dance around with these little things all you want but it's still a industry like any other and the government is the one driving cost. Again show us any proof that it's just greed? Where was this greed I. The last 100 years? You literally sound like Biden himself right now. In fact even the mainstream media that cover for him is now admitting it's his fault. Even his own party is turning on him for it. You can't keep crapping on one industry and expect them to invest large amounts of money into it.
Which proves my point with your argument even. Oil companies have record profits but what if they take those profits and do t invest them like the past to bring profits down on balance sheets? Bam record profits. Why invest money to produce more when the government polices might shut it down leaving you holding the bag like they investors of the company pipeline.
Do you at least see how this works?