9000 unused leases on Federal land.

LV426 said:
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.
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I have shares in oil wells and I make good money at $50. Also wells don't last forever so companies need to continually drill to continually produce. Our oil production increased under Trump and has decreased under Biden.
 
ExpressLane said:
I have shares in oil wells and I make good money at $50. Also wells don't last forever so companies need to continually drill to continually produce. Our oil production increased under Trump and has decreased under Biden.
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Production during Trump's lockdown was extremely low. Production is proportional to need. We were at lows during then. What specific time are you using as Trump's standard? It was a lows in 2016 and 17. Were you posting about production then?
 
Nordberg said:
Production during Trump's lockdown was extremely low.
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Trump didn't lock anything down. You are hallucinating. DEMOCRATS locked down the economy through fear mongering over a mild virus.
Nordberg said:
Production is proportional to need. We were at lows during then. What specific time are you using as Trump's standard? It was a lows in 2016 and 17. Were you posting about production then?
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Special pleading fallacy.
 
ExpressLane said:
I have shares in oil wells and I make good money at $50.
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But you make BETTER money at $96, and the oil companies know this which is why they aren't dramatically increasing production in order to lower the price per barrel, and why they never will.


Also wells don't last forever so companies need to continually drill to continually produce.
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They last long enough that you don't need to start a bevy of new ones to account for the drop of production in old ones.


Our oil production increased under Drumpf and has decreased under Biden.
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FOR THE MILLIONTH TIME: IT DOESN'T FUCKING MATTER HOW MUCH OR HOW LITTLE THE US PRODUCES BECAUSE WE DO NOT CONTROL ENOUGH RESERVES TO HAVE ANYTHING MORE THAN A NOMINAL AND TEMPORARY IMPACT ON THE PRICE PER BARREL.

And it's not OUR production, it's production for multinational corporations.

We do not have any control over that as citizens OR consumers.
 
LV426 said:
But you make BETTER money at $96,
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Not if someone is selling it for $45. You really have no idea how price discovery works or how commodity markets work, do you?
LV426 said:
and the oil companies know this which is why they aren't dramatically increasing production in order to lower the price per barrel, and why they never will.
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Which oil companies?
LV426 said:
They last long enough that you don't need to start a bevy of new ones to account for the drop of production in old ones.
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Yes you do.
LV426 said:
FOR THE MILLIONTH TIME: IT DOESN'T FUCKING MATTER HOW MUCH OR HOW LITTLE THE US PRODUCES BECAUSE WE DO NOT CONTROL ENOUGH RESERVES TO HAVE ANYTHING MORE THAN A NOMINAL AND TEMPORARY IMPACT ON THE PRICE PER BARREL.
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Denial of commodity markets. Denial of domestic sales records. Argument from randU fallacy.
LV426 said:
And it's not OUR production, it's production for multinational corporations.
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The States is not multinational, dude.
LV426 said:
We do not have any control over that as citizens OR consumers.
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Sure you do. Don't use oil products.

Of course, that means you'll be living in primitive conditions.
 
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