Gas prices summer 2022

[Josh828]

If they were actually worried about "Green" anything wouldn't you want to produce your oil locally instead and using massive fuel guzzling ships to transport it across the world...

[larry_arizona]

If they were actually worried about "Green" anything wouldn't you want to produce your oil locally instead and using massive fuel guzzling ships to transport it across the world...

Or pipe lines to transport.


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[SONIC]

You guys should try buying Avgas right now, averaging over 6/gal right now most places.

[brad460]

The current administration increased regulations, killed drilling permits, stopped pipeline construction and forced us to rely on OPEC+ and Russia as our main sources day 1 of its reign via executive order.

I understand it’s a global oil market, but when you drill it locally, you have more control on production output and who buys it.

If the bbl price is high, at least when you cut Russia off the US would profit.

To say the current administration didn’t hamstring the oil industry is being naive.

Keep in mind the current admin is pushing the green narrative at the moment.

Going to guess gas prices in the oil producing countries are MUCH lower. Gas is cheap in Saudia Arabia even if that is a subsidy or luxury afforded to being the oil industry leader like the US was a year ago.

If US subsidized gas to the $2.50 range, inflation goes down. Pushing the green agenda will only drive inflation higher.


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I work in the oil and gas industry and so let me add a little to this..

The Biden administration’s hostility towards fossil fuels has absolutely added to the increase oil and gas prices. Of course not entirely responsible..

One area that has been discussed a lot lately is that the USA should just increase production/drill more wells. To drill new wells you need investors and the negativity toward investing in fossil fuels has reduced the ability to finance new wells and equipment. In addition- inflation, regulations and the current job market have made it 40-50% more expensive to drill…This is why we see a slow ramp up in the rig count. We are still way down on the rig count from pre-covid..Moving away from diesel gen sets to natural gas gen sets on these rigs cost big $$$..

Oil and Gas companies have also been forced to focus heavily on ESG. Methane reduction is a huge topic. For example in CO, you can’t flare which prevents oil production where natural gas infrastructure doesn’t exist. Many other states are pushing major emissions reduction.

FYI- much of the oil and gas production comes from natural gas engines driving compressors, pumps, drill rigs..etc.

I could go on and on…just spent a few days with the folks from BHE (Berkshire Hathaway Energy)- Their big push is the “clean machine”..this is meant to reduce overall emissions. These technologies cost $$$$…

I should note- higher oil prices are very good for the company I work for (which benefits me financially), but oil over $100 is not good. $60-70 is a good balance.

Also, I very much support clean energy, but know the best solution will continue to be oil and gas.

[larry_arizona]

It’s not quite so simple. Corporate lean is toward gaining investors and making profits for shareholders, and because of the global economy they will shift production to the markets it is cheapest to supply from to maximize profits.

Current shareholders have quite a bit of sway and will influence corps to hold back on drilling until they extort less restrictions and regs, lower lease fees, and government subsidization equating to more share holder profits. This will cause investors to buy at peaks or miss out at the action, which will increase corporate valuations driving stocks and inflation higher.

The presidential office holder is a rook or knight in a large chess match. Those pieces have a limited amount of moves, and are often used sparingly during aggressive play, and will always be sacrificed when necessary. The people of the world are just pawns in the game, and have little sway.

It’s very complex issue, and following the money will indicate which winds will sway the boat for the brief moment.


https://apple.news/AnFxibyviTGqZudLWPjOmEw

https://apple.news/AAaGyy0IiR-C-IPobx4-w3w

https://www.theatlantic.com/science/...ensive/622887/

https://www.google.com/amp/s/www.nyt...price.amp.html

https://www.caixabankresearch.com/en...ise-oil-prices

https://www.forbes.com/advisor/inves...gh-oil-prices/


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Does your boat list heavy to the port side with those news sources?


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[brad460]

And finally, with an important quote:

“Despite industry’s claims to the contrary, President Biden has not hobbled US oil and gas development. In fact, ….this administration actually approved more US drilling permits per month in 2021 than President Trump did during each of the first three years of his presidency. Before the pandemic, oil and gas production from public lands and waters reached an all-time high, and the current administration has done little to change that trajectory over the last 13 months.”

https://apple.news/AWIpRVkVcTXmSigZrvboTwQ


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Your search history “ Biden not to blame for high gas prices….inflation…Afghanistan…crime spike..”..

[2in2out]

Does your boat list heavy to the port side with those news sources?


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I don’t consider Forbes and Barron’s biased in the directions everyone is insinuating I lean. I lean towards the direction of data. Retrospective data doesn’t handle black swan events well, and predicting social and economic turns is problematic. I’m just saying the complexities show that the influence of administration isn’t near the influence that everyone makes of it.

I provided seven references of articles that shared common themes from news outlets from across the spectrum, most printed timely, and not sponsored by the petroleum industry or climate advocacies.

I’m not naive to it either. I know the damage that lithium mining does, and that climate first policies and technology are just as complex.

My observation is that the populace is ignorant to the economics of energy, and it is easier to point the finger outward and cast blame and not inward with introspection.

I learned a number of things through the readings I provided. I was ignorant too. I believe we need updated nuclear technology, but lack of investment, fear, and other industry competitiveness doesn’t allow for it. Renewable energy has its limits and its demons just like petroleum.

But to answer your question, my boat lists to whatever side I’m surfing.


Making my new SA build come true!!!

[larry_arizona]

I don’t consider Forbes and Barron’s biased in the directions everyone is insinuating I lean. I lean towards the direction of data. Retrospective data doesn’t handle black swan events well, and predicting social and economic turns is problematic. I’m just saying the complexities show that the influence of administration isn’t near the influence that everyone makes of it.

I provided seven references of articles that shared common themes from news outlets from across the spectrum, most printed timely, and not sponsored by the petroleum industry or climate advocacies.

I’m not naive to it either. I know the damage that lithium mining does, and that climate first policies and technology are just as complex.

My observation is that the populace is ignorant to the economics of energy, and it is easier to point the finger outward and cast blame and not inward with introspection.

I learned a number of things through the readings I provided. I was ignorant too. I believe we need updated nuclear technology, but lack of investment, fear, and other industry competitiveness doesn’t allow for it. Renewable energy has its limits and its demons just like petroleum.

But to answer your question, my boat lists to whatever side I’m surfing.


Making my new SA build come true!!!

Just your sources were mostly hard left with a couple centers added in, but missing anything hard right.

Point is, sources of data a very manipulated and it’s difficult to decipher real data.

There is no way the US has granted more drilling permits in 2021 based on Joe’s first day of Executive Orders.


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[KnoxMojo]

Does your boat list heavy to the port side with those news sources?


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Hilarious, I seriously laughed out loud. Most of his links for articles on this and the boat prices thread are for sure port heavy. lol.

[Jason1975]

Its just annoying when people say we shouldn't be using our own resources when we have the ability to do it far cleaner than anyone instead of enriching countries like Russian, China and the middle east who all want to see us vanish because some think "green" is the way. Green isn't the way. Its not efficient and when you force electric cars on the population who gets hurt the most? the middle class that's who because they will have to pay the high gas prices.