9000 unused leases on Federal land.

[SmarterthanYou]

Yes, I did read it. Did you understand it? I guess not.

Right, so?


The loans go as high as $125K.

Auto loan debt doubled in the last decade, more than any other debt
https://news.yahoo.com/auto-loan-debt-doubled-in-the-last-decade-145400808.html

apparently you didn't really understand it, or you understand it like a liberal does.........or doesn't. I repeat, GM lenders will not loan 80k to someone making $15 an hour...........despite you believing that they will





Have they?

https://www.google.com/search?q=aut...IAZwJkgEDMi45mAEAoAEByAEIwAEB&sclient=gws-wiz[/QUOTE]

 

[LV426]

I repeat, GM lenders will not loan 80k to someone making $15 an hour.

Of course they will! Why do you think all those dumb Trump morons are driving around in massive trucks....none of them can afford those trucks because they're dumb poor Trump voters...but they still get them nonetheless because it's more profitable for the lender to rake in late fees and repo the car.

 

[Althea]

Exactly...they saw what happened to natural gas from 2015-2020 and have pulled back on new wells and production because of the hit to the price per barrel.

S. Arabia handed them their collective asses, and many companies shut down. Without capping their wells, as my video shows.

Then, Wall St. demanded dividends or they were pulling their money. So instead of drilling new wells, and getting equipment/supplies, they bought their own deflated shares and hiked dividends.

Now they want to jump on $130 oil, and they can't find sand for fracking.

The profits are up for those who drill. But many missed the boat.

 

[ExpressLane]

Right, so it's not in the oil companies' interest to increase production because it will lower the price per barrel, and thus lower their revenues and profits.

Welcome to Economics 101.




NOT IF THAT OIL IS PRICED TOO LOW




Complete and total horseshit, of course.

You just got done agreeing with me that it's better for oil companies if the price is $96 instead of $50, so why would they increase production and risk lowering the price?

GOD are you fucking dumb.

Just like really fucking dumb. Dumber than most people. Every time you open your big, fat, stupid mouth I am amazed at the dumb shit that flows from it.

Like a constant stream of stupidity and idiocy.

What is it in that pea brain of yours that can't make the connection between increasing production and lowering the price per barrel, and how that runs afoul of the profit motive of these multinational companies?

They get ZERO if they don't sell oil. Oil companies in the US compete with each other so its in their interests to find productive leases and to produce them. I know more about the industry than most do because my best friend and former partner is a geologist that finally went to med school. He supported his family in med school and afterwards by analyzing the geology and purchasing the lease then selling them to producers. Those producers found investors and sold shares in the potential well. My partner kept a certain percentage of the potential well as a royalty or he sold his royalty. When he kept a piece of the well ,royalty, I frequently bought a couple of shares too because I knew he thought it was a good risk.. The shares of producing wells make a decent portion of my retirement portfolio. Small time investors like me are hesitant to invest in new wells making raising more capital difficult to raise for new wells.

 

[ExpressLane]

How did they do that when they didn't control Congress?

DTom Foley was speaker of the house when Franks and his Democrat buddies passed the bill.

No, it was actually YOUR POOR SHITTY BASE in Appalachia and the Midwest (particularly in Wisconsin and Minnesota) who benefitted from federal housing policies.

It also benefited the Dems minority base. That is the reason they passed it.

Unless you think the toothless, inbred hicks managed to save enough money from their bathtub moonshine businesses to buy their shitty hovels.

The facts remain its YOUR side that passed the bill that cause the housing crisis.

 

[ExpressLane]

How did the cancelling of a no yet begun construction project raise gas prices so much?

Because cancelling the project was a HUGE financial loss for the investors. The canceling of the XL was proof positive of the hostile stance the administration would be taking on fossil fuels. Would be fossil fuel investors put their money elsewhere. That slows money for more drilling and raises the FUTURES prices of oil. Anything that raises futures prices raise costs at the pump.

 

[ExpressLane]

How did they do that when they didn't control Congress?




No, it was actually YOUR POOR SHITTY BASE in Appalachia and the Midwest (particularly in Wisconsin and Minnesota) who benefitted from federal housing policies.

Unless you think the toothless, inbred hicks managed to save enough money from their bathtub moonshine businesses to buy their shitty hovels.

The pressure to make more loans to minorities (read: to borrowers with weak credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods." Lenders responded by loosening their underwriting standards and making increasingly shoddy loans. The two government-chartered mortgage finance firms, Fannie Mae and Freddie Mac, encouraged this "subprime" lending by authorizing ever more "flexible" criteria by which high-risk borrowers could be qualified for home loans, and then buying up the questionable mortgages that ensued.

http://archive.boston.com/bostonglo...ngerprints_are_all_over_the_financial_fiasco/

 

[Jarod]

Because cancelling the project was a HUGE financial loss for the investors. The canceling of the XL was proof positive of the hostile stance the administration would be taking on fossil fuels. Would be fossil fuel investors put their money elsewhere. That slows money for more drilling and raises the FUTURES prices of oil. Anything that raises futures prices raise costs at the pump.

Pure Silliness

 

[ExpressLane]

Pure Silliness

If the President started closing down nuclear plants would you invest your money in nuclear plants?

Jarod I hope you are a better lawyer than you are an investor.

 

[SmarterthanYou]

Of course they will! Why do you think all those dumb Trump morons are driving around in massive trucks....none of them can afford those trucks because they're dumb poor Trump voters...but they still get them nonetheless because it's more profitable for the lender to rake in late fees and repo the car.

thank you for providing even more proof that leftists know shit about economics

 

[LV426]

They get ZERO if they don't sell oil.

Which is better than what they would lose if they increased production and drove down the price per barrel.

Let me make this perfectly clear for you since you have a learning disability: THE MORE OIL THAT IS PUMPED DOMESTICALLY, THE LOWER OIL COMPANY PROFITS BECOME.

So it is never in the oil company's best interests to start new wells or increase production because doing so only has the effect of increasing the supply and lowering the price per barrel.

You're so fucking stupid.

 

[LV426]

DTom Foley was speaker of the house when Franks and his Democrat buddies passed the bill.

What are you even fucking talking about?

Lending standards for subprime loans were reduced in 2004 and it wasn't through an act of legislation, it was through a deal Bush the Dumber's Treasury Department struck with all the Wall Street banks.

That deal allowed the banks to self-regulate, including lenders.

Agency’s ’04 Rule Let Banks Pile Up New Debt
https://www.nytimes.com/2008/10/03/business/03sec.html

Like I said, you have no fucking idea what you're talking about because you're dumb as shit.

 

[LV426]

It also benefited the Dems minority base. That is the reason they passed it.

So it benefitted everyone.

And yet, you still can't point to anything in that legislation that caused banks to lower their lending standards for subprime loans beginning in 2004.

The facts remain its YOUR side that passed the bill that cause the housing crisis.

What caused the housing crisis was Bush the Dumber inflating a housing bubble in 2004 to cover for the failure of his tax cuts to deliver on ANY of the promises made of them.

And the bubble appeared in 2004:

And there's nothing -NOTHING- in any legislation passed decades before that caused those lending standards to be lowered.

In fact, in 2000, Clinton put in place a HUD rule that BANNED GSE's from purchasing risky subprime loans.

Bush of course reversed that rule in 2004, and GSE's dove right into the subprime mortgage market.

 

[LV426]

http://archive.boston.com/bostonglo...ngerprints_are_all_over_the_financial_fiasco/

By all means asshole, here's the legislation in question, please show all of us the part where it said lending standards had to be lowered: https://www.govinfo.gov/content/pkg/USCODE-2013-title12/pdf/USCODE-2013-title12-chap30.pdf

Also, this:

"Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "
https://www.federalreserve.gov/images/20081203_analysis.pdf

So that'd be the Federal Reserve calling you a fucking idiot for trying to blame the CRA for the mortgage meltdown you caused by letting banks lower lending standards for subprime loans in 2004.

And I concur with them; you are a fucking idiot.

 

[LV426]

http://archive.boston.com/bostonglo...ngerprints_are_all_over_the_financial_fiasco/

It's also laughable that you'd blame the CRA for Bush inflating a housing bubble 30 years later.

 

[Into the Night]

The same way someone with no income and no job was able to get a subprime home loan from 2004-2007.

Go try it.

 

[Into the Night]

No. the oil companies have 9,000 approved but unused drilling PERMITS. They have 12 million leased acres that haven't been drilled.

https://westernpriorities.org/2022/...-and-drilling-under-the-biden-administration/

Your entire screed is based on a lie. The government is not dragging their feet since they have issued over 9,000 permits for drilling that have not resulted in drilling because the companies with the permits haven't drilled as permitted.

There are no permits on any of the leases.

 

[Into the Night]

How long does it take to drill once a permit is approved? The oil companies have 9,000 approved permits that they have not used to drill. They have over 12 million acres leased with nothing happening.

A lease is not a permit, dumbass.

 

[Into the Night]

Maybe they will make tires out of vegetables.

They already are. The sap of the rubber tree is part of the vegetable.

 

[Into the Night]

And they have over 9,000 PERMITS for land that was already leased. It seems you don't know what a permit is.

There are no permits for any of the leases. You are describing yourself.