It's 100% Biden's Inflation
- Thread starter anatta
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ExpressLane
Verified User
You are obviously too stupid to read a chart. In 2008 the US produced 5,074 Thousand barrels a day. Production went up every year until it started to fall in 2020. That is EXACTLY what I told LV426. Are all libratards as stupid as you two?
So fucking stupid.
First of all, Trump didn't "throttle up production".
Secondly, YOU JUST ADMITTED A POST AGO THAT OPEC COULD CANCEL OUT ANY PRODUCTION INCREASES IF IT SO CHOOSES.
The ONLY WAY we achieve oil independence is if we nationalize the domestic oil industry; that's it.
Althea
Althea told me...
Liar. You're too stupid to have this discussion.
Here's an idea...read your own links
Althea
Althea told me...
I've been saying this for years.
It could never do that because OPEC controls the market, you Russian propagandist.
OPEC could double their production overnight and at 9:00AM ET, as soon as the markets open, completely obliterate what laughably remains of the US oil industry.
Doesn't fucking matter because 2M barrels to OPEC is like 1/2 a barrel to us.
OPEC controls 80% of the oil market.
We control 2%.
You're a liar.
Not a single oil company is going to start a new well this year, next year, or in ten years.
The reason is obvious: any new production will be met with compensatory OR retaliatory production from OPEC to either maintain the price, or get rid of the competition.
WRONG!
It was because OPEC increased production in order to get rid of the competition.
And they succeeded.
OPEC crude production in 2015 is estimated at around 31.8 mb/d, an increase of just over 1 mb/d from 2014.
https://www.opec.org/opec_web/static_files_project/media/downloads/publications/AR 2015.pdf
OPEC increased production by 1M barrels A DAY in 2015, and that was enough to kill the US shale business.
So imagine what would happen if OPEC increased production by 2M barrels a day...
ExpressLane
Verified User
We import oil from Canada and Mexico because of proximity to where it is produced shipped and refined. The oil that Canada produces in Western Canada is heavy and difficult to refine so the US refineries are set up to refine it so we buy it at a discount. Mexico sells its oil to Texas refineries where there is capacity to refine it and pipelines to ship it. Energy independences means we produce more energy in BTUs than we consume. That means LNG too. So we might buy oil but we sell LNG and we export a net amount of energy.
No, you clowns have no fucking idea what you're talking about because you're all a bunch of lazy fucking liars.
There is absolutely NOTHING we can do here, short of nationalizing the industry, to achieve this fantasy of "energy independence".
What's funny is that not only have I completely humiliated you on every economic argument we've ever had, it's that you continue to prop up a fantasy about private oil companies wanting the nation to achieve "energy independence" when all that looks like is us bailing them out because OPEC decided to get rid of the competition, like they did in 2015-16 when they killed the US Shale business.
You should have heeded that as a warning, but you didn't because you're a fucking liar and moron.
Althea
Althea told me...
Shale sludge is good for diesel and kero. Nothing more. Let China take it.
Althea
Althea told me...
Correct. We cannot trust the for profit industry to do what is better for anyone other than investors.
See reduced output despite high prices.
ExpressLane
Verified User
U.S. shale production is set to rise 109,000 bpd this month to 8.7 million bpd, according to U.S. government forecasts. In the largest U.S. production basin output will hit a record 5.2 million bpd.Mar 2, 2022
https://www.reuters.com/business/en...le production is set,a record 5.2 million bpd.
https://www.reuters.com/business/en...le production is set,a record 5.2 million bpd.
I must really have gotten under your skin in a way no one else has.
You are OBSESSED.
I guess that's what happens when someone comes along and calls you a poseur.
Althea
Althea told me...
Sensationalism.^^^^^
Truth:
Smaller producers may want to ramp production, but they may struggle "to get rigs and supplies necessary to drill and complete wells," said Bradley Williams, CEO of Dallas-based Elephant Oil & Gas.
Althea
Althea told me...
He also believes that U.S production increased each year from '08-'20
Yesterday, OPEC produced 31,000,000 barrels of oil.
Well it obviously didn't...but even if it did, it's still a fraction of the volume OPEC produces daily.
Let's take him at his word that we produce 5M barrels of oil a day...well, if OPEC produces 30M barrels of oil a day, wouldn't they just produce less to make up for the output, thereby keeping the price steady, or ramp up production in order to get competition out?
That's what these idiots are just refusing to consider...they think that we can operate an oil market separate and above the one the cartel currently controls, and not face any repercussions.
That's just insane.
And also, ramping up production to nominally increase the number of barrels per day produced in the US while OPEC produces 6 times as much is just...fucking idiotic but completely in character for these fucking dipshits.
It just means we can produce more than we consume. God you are dumb. I sometimes wonder how people as stupid as you obviously are make it through life.
LOL
So you think these private oil companies are going to, what, cut us a break on the pricing? Have they? No, because they can't.