So these sanctions appear to be pathetically weak

[WestlinnDuck]

We’re importing 600K barrels from Russia daily. Joey shutdown at least 800K here in production.

In 2016 we were producing 15M daily. Estimates for 2022 are less than 12M daily.

The price of a black book of damming info today. No 10%.

I'm seen were 800k was shut down by Biden, but don't know exactly what was shut down that reduced our production by 800k. Does anyone know?

The Keystone pipeline when completed would have provided over 800K barrels a day. Biden also closed Federal land to oil and gas exploration as well halting offshore oil and gas drilling leases.

They Keystone XL pipeline was a few years away from completion and had nothing to do with reduction of our oil production today.

And stopping leases and exploration does nothing today to reduce the supply.

Also, Keystone is for Canadian imported oil, not US production.

I'm just trying to figure out how Biden cost the USA energy independence this year, not year out.

Also Biden was sued and forced to sell new leases last summer

Biden policies impacted production here. All the keystone pipeline oil is rolling through the US in train tankers owned by friends of the dems. They are getting rich. Russia being our #2 supplier was laways a mistake. Always.

Again. They Keystone pipeline is in production and oil is flowing. Keystone XL was cancelled by Biden and wouldn't be operating for a few years if it was being built today. And it may be restated in 3 years.

No new leases has no affect on current production. It takes years to develop land to the point of production.

I'm asking specifically, what Biden policy cause a 3 million barrel a day reduction in current domestic production. I honestly don't know. I haven't researched it much. But on it's surface, putting the cancellation of Keytone XL as the reason seems like a talking point that gets thrown around without a lot to back it up.

I agree, there isn’t direct causation there. But Keystone did work as an added element of regulatory uncertainty on future policy to the industry that was already a bit shell shocked from the Saudi/Russian feud where they both pumped a ton in a short time frame (late 2019 early 2020). There was a day or two in April 2020 where oil was less than $0 because the speculators got stuck with the contracts and a sudden crash in demand and couldn’t find a physical home for it. Domestic pumpers are still getting leases on lands, but they are taking options on those leases due to the uncertainty of regulatory actions. Industry doesn’t need perfect regulation to operate, it more needs consistent and certain regulation.

Whatever happened, supply did decrease around the time of the keystone announcement. If you wanted to really screw with things, a libertarian setup between US/Canada on free flow of physical energy resources could be awesome if done right. That dream is over.

Read an article on Rueters (can't find link) that basically said it was a combo of uncertainty over future regulatory environment (specifically with methane off gassing from wells), and a fear over overexuberant drilling until prices stabilized more uniformly.

My uneducated read on it was Joe didn't do anything "specifically" that cut production, but the inability to expand leases on federal land and the Keystone decision did compel drillers to think more carefully about exploratory drilling for fear of future regulation from Team Biden. So no, Biden didn;t specifically do anything, but the threat of Biden is enough to cool drilling. ATBS, article also mentioned oil prices have gathered so much steam that they believe drilling will commence in a big way in 2022 and should easily surpass 2021 levels. Enough to make up 800K barrels per day? I have no idea...

I think that is correct. Look, wells dry out and you need new wells to replace the lost production. With the threat of the methane offgassing restrictions, the lower price for oil and gas and the demand decrease due to the chicom crud along with the huge uncertainty of what the dems want to do with restricting and what they did to restrict future well drilling and the use of oil and gas would reduce US oil production.

 

[PurpleThrobber]

We’re importing 600K barrels from Russia daily. Joey shutdown at least 800K here in production.

In 2016 we were producing 15M daily. Estimates for 2022 are less than 12M daily.

The price of a black book of damming info today. No 10%.

I'm seen were 800k was shut down by Biden, but don't know exactly what was shut down that reduced our production by 800k. Does anyone know?

The Keystone pipeline when completed would have provided over 800K barrels a day. Biden also closed Federal land to oil and gas exploration as well halting offshore oil and gas drilling leases.

They Keystone XL pipeline was a few years away from completion and had nothing to do with reduction of our oil production today.

And stopping leases and exploration does nothing today to reduce the supply.

Also, Keystone is for Canadian imported oil, not US production.

I'm just trying to figure out how Biden cost the USA energy independence this year, not year out.

Also Biden was sued and forced to sell new leases last summer

Biden policies impacted production here. All the keystone pipeline oil is rolling through the US in train tankers owned by friends of the dems. They are getting rich. Russia being our #2 supplier was laways a mistake. Always.

Again. They Keystone pipeline is in production and oil is flowing. Keystone XL was cancelled by Biden and wouldn't be operating for a few years if it was being built today. And it may be restated in 3 years.

No new leases has no affect on current production. It takes years to develop land to the point of production.

I'm asking specifically, what Biden policy cause a 3 million barrel a day reduction in current domestic production. I honestly don't know. I haven't researched it much. But on it's surface, putting the cancellation of Keytone XL as the reason seems like a talking point that gets thrown around without a lot to back it up.

I agree, there isn’t direct causation there. But Keystone did work as an added element of regulatory uncertainty on future policy to the industry that was already a bit shell shocked from the Saudi/Russian feud where they both pumped a ton in a short time frame (late 2019 early 2020). There was a day or two in April 2020 where oil was less than $0 because the speculators got stuck with the contracts and a sudden crash in demand and couldn’t find a physical home for it. Domestic pumpers are still getting leases on lands, but they are taking options on those leases due to the uncertainty of regulatory actions. Industry doesn’t need perfect regulation to operate, it more needs consistent and certain regulation.

Whatever happened, supply did decrease around the time of the keystone announcement. If you wanted to really screw with things, a libertarian setup between US/Canada on free flow of physical energy resources could be awesome if done right. That dream is over.

Read an article on Rueters (can't find link) that basically said it was a combo of uncertainty over future regulatory environment (specifically with methane off gassing from wells), and a fear over overexuberant drilling until prices stabilized more uniformly.

My uneducated read on it was Joe didn't do anything "specifically" that cut production, but the inability to expand leases on federal land and the Keystone decision did compel drillers to think more carefully about exploratory drilling for fear of future regulation from Team Biden. So no, Biden didn;t specifically do anything, but the threat of Biden is enough to cool drilling. ATBS, article also mentioned oil prices have gathered so much steam that they believe drilling will commence in a big way in 2022 and should easily surpass 2021 levels. Enough to make up 800K barrels per day? I have no idea...

Yup. The BLM and USFS can fuck things up when it comes to extraction industries.

FUCK THINGS UP. And they take their marching orders directly from whoever is at the top of the crime family[/s] Executive Branch.

 

[46XiJCAB]

Anecdotal. When

You combine Joey’s policies with the impact of COVID and you create unknowns for O & G producers. Production has fallen since COVID. So now do domestic producers ramp up to take advantage of today’s prices?

Obviously this will increase their costs so do they stay at current production levels and take in nice profits for shareholders?

What if demand falls because of another COVID wave after they’ve made huge investments in new production. Where does PPB go?

Joey going on and on about green energy doesn’t help either. A lot of moving parts but having confidence in the guy in the WH would be nice.

Still don't know what specific policies by Biden caused production to fall last year.

His green energy push has many in the industry uneasy with his administration. Then his energy Secretary went out and blasted the industry for their enormous profits. Basically demanding they increase production. I remember her presser.

So you added to the existing uncertainty that has caused the industry to not increase supply and then blast them when they won’t.

You tell them to invest in a time of uncertainty of demand and what regulations may be coming down the road once you’ve helped reduce the cost to consumers. Joey is a leftist radical now.

There are many other factors of course but things over the last 13 months have not helped. The industry wasn’t facing this under Trump. Many of the factors were in play when he was in office.

Covid. Lockdowns. Demand. Keystone. Russia. OPEC reducing production.

Gas $2.76 a gal. for me. I’m paying $1 or more per gal. now. Since Joey.

 

[Bob_C]

https://twitter.com/drpaulgosar/status/1497300458997616640?s=21

 

[UW_Doog_Bot]

Biden's directions to all sorts of regulatory bodies was to curb domestic production. We? Are facing all kinds of increasing regulatory oversight, audits, and fines. Guess where those costs show up?

C'mon Mike, you know economics well enough, what happens to current production when the cost of capital goes through the roof? Why are US oil stocks still trading for shit with high oil prices?

I can name at least three major pipeline/production projects in California that were shutdown once Biden entered office. Not from Covid. And Nesom talks big but parties with the Ghetty's, do the math.

It's basic futures trading where everyone in the industry is pricing in tomorrow to today. Combine that with Covid killing existing production and you have a drastically reduced supply.

Biden didn't cause *all of it but his actions are contributing to it and exacerbating the effects.

*Board energy superiority guy

 

[46XiJCAB]

IIRC his attempt to stop new drilling of federal land was overturned but wasn't that only for leases under contract?

 

[WestlinnDuck]

 

[hardhat]

https://twitter.com/johnhackerla/status/1497062606816743425?s=20&t=cvT8SVqgvmB4b8mPAH3M7A

 

[Goduckies]

What a bunch of fuckups
https://twitter.com/Johnny_Dice_/status/1497007796130308096?s=20&t=dM_ZD0fZwX0BeoZS-g1gZQ

Brilliant keep putins money supply going

 

[hardhat]

But these are TOUGH sanctions

 

[46XiJCAB]

View attachment 48167

tHeY hAvE pHoNeS iN dElAwARE!!!

 

[MikeDamone]

Anecdotal. When

You combine Joey’s policies with the impact of COVID and you create unknowns for O & G producers. Production has fallen since COVID. So now do domestic producers ramp up to take advantage of today’s prices?

Obviously this will increase their costs so do they stay at current production levels and take in nice profits for shareholders?

What if demand falls because of another COVID wave after they’ve made huge investments in new production. Where does PPB go?

Joey going on and on about green energy doesn’t help either. A lot of moving parts but having confidence in the guy in the WH would be nice.

Still don't know what specific policies by Biden caused production to fall last year.

His green energy push has many in the industry uneasy with his administration. Then his energy Secretary went out and blasted the industry for their enormous profits. Basically demanding they increase production. I remember her presser.

So you added to the existing uncertainty that has caused the industry to not increase supply and then blast them when they won’t.

You tell them to invest in a time of uncertainty of demand and what regulations may be coming down the road once you’ve helped reduce the cost to consumers. Joey is a leftist radical now.

There are many other factors of course but things over the last 13 months have not helped. The industry wasn’t facing this under Trump. Many of the factors were in play when he was in office.

Covid. Lockdowns. Demand. Keystone. Russia. OPEC reducing production.

Gas $2.76 a gal. for me. I’m paying $1 or more per gal. now. Since Joey.

After Covid and lockdowns is a pretty fucking big drop off to cancelling a pipeline that was years away from carrying oil. The lefts hyperbole and hypocrisy is what I hate about them the most. If the right does it, it needs to be called out as well.

Biden is president, he owns it like all presidents have. But please be about the BidenBros with their cunt act.

 

[MikeDamone]

Biden's directions to all sorts of regulatory bodies was to curb domestic production. We? Are facing all kinds of increasing regulatory oversight, audits, and fines. Guess where those costs show up?

C'mon Mike, you know economics well enough, what happens to current production when the cost of capital goes through the roof? Why are US oil stocks still trading for shit with high oil prices?

I can name at least three major pipeline/production projects in California that were shutdown once Biden entered office. Not from Covid. And Nesom talks big but parties with the Ghetty's, do the math.

It's basic futures trading where everyone in the industry is pricing in tomorrow to today. Combine that with Covid killing existing production and you have a drastically reduced supply.

Biden didn't cause *all of it but his actions are contributing to it and exacerbating the effects.

*Board energy superiority guy

All I asked for was specifics rather than "Keystone, 800k barrels a day, his polices!!!"

I don't think you can tie any of what you said to a spike in prices. They would lead to a long term gradual rise. We are experiencing a shock.

In the long term the restrictions on financing will be a major concern in future supply .

Markets don't react with a shock in a few months to things that are 10 years down the road.

By the way, one of my best holdings is $XOM. It closed today at almost 78. Up form 50 a year ago. It's barley off it's high. I don't think
It's trading for shit

 

[WestlinnDuck]

Anecdotal. When

You combine Joey’s policies with the impact of COVID and you create unknowns for O & G producers. Production has fallen since COVID. So now do domestic producers ramp up to take advantage of today’s prices?

Obviously this will increase their costs so do they stay at current production levels and take in nice profits for shareholders?

What if demand falls because of another COVID wave after they’ve made huge investments in new production. Where does PPB go?

Joey going on and on about green energy doesn’t help either. A lot of moving parts but having confidence in the guy in the WH would be nice.

Still don't know what specific policies by Biden caused production to fall last year.

His green energy push has many in the industry uneasy with his administration. Then his energy Secretary went out and blasted the industry for their enormous profits. Basically demanding they increase production. I remember her presser.

So you added to the existing uncertainty that has caused the industry to not increase supply and then blast them when they won’t.

You tell them to invest in a time of uncertainty of demand and what regulations may be coming down the road once you’ve helped reduce the cost to consumers. Joey is a leftist radical now.

There are many other factors of course but things over the last 13 months have not helped. The industry wasn’t facing this under Trump. Many of the factors were in play when he was in office.

Covid. Lockdowns. Demand. Keystone. Russia. OPEC reducing production.

Gas $2.76 a gal. for me. I’m paying $1 or more per gal. now. Since Joey.

After Covid and lockdowns is a pretty fucking big drop off to cancelling a pipeline that was years away from carrying oil. The lefts hyperbole and hypocrisy is what I hate about them the most. If the right does it, it needs to be called out as well.

Biden is president, he owns it like all presidents have. But please be about the BidenBros with their cunt act.

Barry and Cho Bai Den added years of delay to the Keystone XL pipeling. Years of delay to the building of other pipelines and LNG export terminals. Years of delay to offshore drilling and drilling in ANWR. The dementia patient didn't support any of this while he was senator and VP. He still owns it.

 

[MikeDamone]

Anecdotal. When

You combine Joey’s policies with the impact of COVID and you create unknowns for O & G producers. Production has fallen since COVID. So now do domestic producers ramp up to take advantage of today’s prices?

Obviously this will increase their costs so do they stay at current production levels and take in nice profits for shareholders?

What if demand falls because of another COVID wave after they’ve made huge investments in new production. Where does PPB go?

Joey going on and on about green energy doesn’t help either. A lot of moving parts but having confidence in the guy in the WH would be nice.

Still don't know what specific policies by Biden caused production to fall last year.

His green energy push has many in the industry uneasy with his administration. Then his energy Secretary went out and blasted the industry for their enormous profits. Basically demanding they increase production. I remember her presser.

So you added to the existing uncertainty that has caused the industry to not increase supply and then blast them when they won’t.

You tell them to invest in a time of uncertainty of demand and what regulations may be coming down the road once you’ve helped reduce the cost to consumers. Joey is a leftist radical now.

There are many other factors of course but things over the last 13 months have not helped. The industry wasn’t facing this under Trump. Many of the factors were in play when he was in office.

Covid. Lockdowns. Demand. Keystone. Russia. OPEC reducing production.

Gas $2.76 a gal. for me. I’m paying $1 or more per gal. now. Since Joey.

After Covid and lockdowns is a pretty fucking big drop off to cancelling a pipeline that was years away from carrying oil. The lefts hyperbole and hypocrisy is what I hate about them the most. If the right does it, it needs to be called out as well.

Biden is president, he owns it like all presidents have. But please be about the BidenBros with their cunt act.

Barry and Cho Bai Den added years of delay to the Keystone XL pipeling. Years of delay to the building of other pipelines and LNG export terminals. Years of delay to offshore drilling and drilling in ANWR. The dementia patient didn't support any of this while he was senator and VP. He still owns it.

I'm fine with him owning it. But we are talking about a current shock in the short term. The things you are talkng about will result in a long term slower increase.

 

[GrundleStiltzkin]

We’re importing 600K barrels from Russia daily. Joey shutdown at least 800K here in production.

In 2016 we were producing 15M daily. Estimates for 2022 are less than 12M daily.

The price of a black book of damming info today. No 10%.

I'm seen were 800k was shut down by Biden, but don't know exactly what was shut down that reduced our production by 800k. Does anyone know?

The Keystone pipeline when completed would have provided over 800K barrels a day. Biden also closed Federal land to oil and gas exploration as well halting offshore oil and gas drilling leases.

They Keystone XL pipeline was a few years away from completion and had nothing to do with reduction of our oil production today.

And stopping leases and exploration does nothing today to reduce the supply.

Also, Keystone is for Canadian imported oil, not US production.

I'm just trying to figure out how Biden cost the USA energy independence this year, not year out.

Also Biden was sued and forced to sell new leases last summer

Biden policies impacted production here. All the keystone pipeline oil is rolling through the US in train tankers owned by friends of the dems. They are getting rich. Russia being our #2 supplier was laways a mistake. Always.

Again. The Keystone pipeline is in production and oil is flowing. Keystone XL was cancelled by Biden and wouldn't be operating for a few years if it was being built today. And it may be restarted in 3 years and would bring Canadian oil to US refineries.

No new leases has no affect on current production. It takes years to develop land to the point of production.

I'm asking specifically, what Biden policy cause a 3 million barrel a day reduction in current domestic production. I honestly don't know. I haven't researched it much. But on it's surface, putting the cancellation of Keytone XL as the reason seems like a talking point that gets thrown around without a lot to back it up.

https://www.cnbc.com/2021/12/30/us-...se-further-in-2022-oil-expert-dan-yergin.html

Yergin also predicted oil prices will stay in the $65 to $85 per barrel range and that $100 oil is unlikely “unless some big geopolitical turmoil happens.”

Whoops

 

[WestlinnDuck]

Anecdotal. When

You combine Joey’s policies with the impact of COVID and you create unknowns for O & G producers. Production has fallen since COVID. So now do domestic producers ramp up to take advantage of today’s prices?

Obviously this will increase their costs so do they stay at current production levels and take in nice profits for shareholders?

What if demand falls because of another COVID wave after they’ve made huge investments in new production. Where does PPB go?

Joey going on and on about green energy doesn’t help either. A lot of moving parts but having confidence in the guy in the WH would be nice.

Still don't know what specific policies by Biden caused production to fall last year.

His green energy push has many in the industry uneasy with his administration. Then his energy Secretary went out and blasted the industry for their enormous profits. Basically demanding they increase production. I remember her presser.

So you added to the existing uncertainty that has caused the industry to not increase supply and then blast them when they won’t.

You tell them to invest in a time of uncertainty of demand and what regulations may be coming down the road once you’ve helped reduce the cost to consumers. Joey is a leftist radical now.

There are many other factors of course but things over the last 13 months have not helped. The industry wasn’t facing this under Trump. Many of the factors were in play when he was in office.

Covid. Lockdowns. Demand. Keystone. Russia. OPEC reducing production.

Gas $2.76 a gal. for me. I’m paying $1 or more per gal. now. Since Joey.

After Covid and lockdowns is a pretty fucking big drop off to cancelling a pipeline that was years away from carrying oil. The lefts hyperbole and hypocrisy is what I hate about them the most. If the right does it, it needs to be called out as well.

Biden is president, he owns it like all presidents have. But please be about the BidenBros with their cunt act.

Barry and Cho Bai Den added years of delay to the Keystone XL pipeling. Years of delay to the building of other pipelines and LNG export terminals. Years of delay to offshore drilling and drilling in ANWR. The dementia patient didn't support any of this while he was senator and VP. He still owns it.

I'm fine with him owning it. But we are talking about a current shock in the short term. The things you are talkng about will result in a long term slower increase.

I'll agree with that. But the phuckers that put us in this mess should pay the price and they won't unless the American public makes them own it.

 

[hardhat]

https://twitter.com/SenTomCotton/status/1497596909778718727?s=20&t=5mUqHcAFf-k_gmC42WB7HA

Lol, I bet certain poasters will find a way to disagree with this.

 

[Sledog]

Shit we need a full forensic audit of the last election then we'd be rid of this clown with the actual winner in office. Fasted way to do it and prevent another loon from running our country into the ground.

 

[UW_Doog_Bot]

Biden's directions to all sorts of regulatory bodies was to curb domestic production. We? Are facing all kinds of increasing regulatory oversight, audits, and fines. Guess where those costs show up?

C'mon Mike, you know economics well enough, what happens to current production when the cost of capital goes through the roof? Why are US oil stocks still trading for shit with high oil prices?

I can name at least three major pipeline/production projects in California that were shutdown once Biden entered office. Not from Covid. And Nesom talks big but parties with the Ghetty's, do the math.

It's basic futures trading where everyone in the industry is pricing in tomorrow to today. Combine that with Covid killing existing production and you have a drastically reduced supply.

Biden didn't cause *all of it but his actions are contributing to it and exacerbating the effects.

*Board energy superiority guy

All I asked for was specifics rather than "Keystone, 800k barrels a day, his polices!!!"

I don't think you can tie any of what you said to a spike in prices. They would lead to a long term gradual rise. We are experiencing a shock.

In the long term the restrictions on financing will be a major concern in future supply .

Markets don't react with a shock in a few months to things that are 10 years down the road.

By the way, one of my best holdings is $XOM. It closed today at almost 78. Up form 50 a year ago. It's barley off it's high. I don't think
It's trading for shit

You don't think curbing current production has any impact on pricing?

Let me say it again, I know of at least 3 major pipeline projects that were canceled due to the heightened cost of compliance and permitting. And yes, these would have been completed(or nearly) by now which does affect current pricing[/b][/b]. This isn't anecdotal, it's indicative across the country. We are shutting in production lines while oil is sky high.

EPA and DOT are out for blood right now and the DOE is at best "reluctant" to help. Death by a thousand audits. Aka Socialism by regulation.

Then there's the whole swath of production that heald their breath and produced at a loss during covid counting on the upside swing on the other side. Guess what happened to them when Biden was elected and extended Covid insanity for another year plus and put them through the regulatory wringer? Production is easy to kill and hard to bring back online. Aka it's easy to drive prices up but hard to bring them back down.

I understand the sentiment of being factual and honest. It's hugely important to have integrity in our claims unlike the BidenBros. This ain't that hill though, Biden owns a huge chunk of this mess, and that's before we even tie him back to his previous political record with Obama.

I'm not sure what more you want, the alphabet bois bureaucracy is hugely impactful to current production and prices and serves at the pleasure of the executive. That alone is a huge driver of pricing domestically.

This is literally what he ran on, curbing current domestic production. He owns it.