No he is correct, proven by the fact you offered nothing to invalidate what he posted
Let's Discuss why it's a bad idea to be tapping the strategic oil reserve!
- Thread starter Wolverine
- Start date
No he is correct, proven by the fact you offered nothing to invalidate what he posted
poor anchovies!
T. A. Gardner
Thread Killer
If the US returned production to a point where we again are a net exporter, then prices here will fall and will also fall on the world market. The strategic reserve was designed solely for a short-term emergency, not to sustain the nation for any long period of time. A release of 50 million barrels is nothing. The US currently consumes just shy of 20 million barrels a day.
Or current deficit is about 5 million barrels a day. We could make that up with expanded production, as happened with Trump. We could also expand refinery space since the US hasn't built a new refinery since 1955.
Of course, all of that goes 100% against the Left's greentard environmentalism agenda, so Biden's unlikely to do any of that.
Or current deficit is about 5 million barrels a day. We could make that up with expanded production, as happened with Trump. We could also expand refinery space since the US hasn't built a new refinery since 1955.
Of course, all of that goes 100% against the Left's greentard environmentalism agenda, so Biden's unlikely to do any of that.
And then you woke up…
We'll be fine.
BartenderElite
Verified User
File this one under, "Biden did it, so it must be bad."
It's the rule for conservatives. No credit, ever.
It's the rule for conservatives. No credit, ever.
What are you fucking talking about?
Incoherent.
How does Putin have us over a barrel when he's the one who can't sell his oil anywhere, can't fly his planes outside Russia, can't sail his ships outside Russia, can't access his money in western banks, and only has Belarus as his sole ally?
You're not much of a thinker, are you?
I voted for Bernie in the primaries and was pretty anti-Biden on JPP.
Incoherent babble.
How many times does it need to be said before it sinks in: NOTHING WE DO WITH OIL PRODUCTION WILL HAVE ANYTHING MORE THAN A NOMINAL IMPACT ON THE GLOBAL PRICE.
You literally just said Putin's invasion of Ukraine was smart, so the Ukrainian blood is on YOUR HANDS.
Remember, you're the one who defended Trump when he tried to extort Ukraine by holding up the sale of weapons to Ukraine for their defense.
You also lied about adopting a child and then refused to verify those wild claims about yourself, which means they're lies you told on JPP to make yourself look more credible than you actually are.
I see right fuckin' through you as the loser you are.
You might fool your fellow Nazi pals, but you don't fool me.
NO.
THEY.
WON'T.
The reason they won't is because OPEC will balance out US production increases with OPEC production cuts in order to maintain the price per barrel.
Or, they could be real assholes and increase their production to drive the price per barrel so low that it bankrupts US oil companies, which is what happened in 2015-2016.
Because of that, the federal government had to bail out Oklahoma, Texas, and North Dakota in 2016.
You are a fucking idiot who thinks he's smart.
Expanding production will only lead to OPEC production cuts in order to maintain the current price per barrel.
Expanding production could also be perceived by OPEC as an attack on their bottom line, and for retribution, could choose violence and increase their production in order to drive down the price per barrel so low that it bankrupts US oil companies, like it did in 2015-16:
The final count for oil and gas bankruptcies totals 42 companies
Swift’s Chapter 11 filing brings the total number of oil and gas companies to file for bankruptcies in 2015 to 42. The combined debt of these companies is $17.85 billion, split about 50.4% secured to 49.6% unsecured debt.
https://www.oilandgas360.com/17-85-billion-in-oil-and-gas-bankruptcies-in-2015/
Prior to 2015, the highest total number of oil and gas companies to file for bankruptcy in any given year was just 5. But in 2015, 42 companies went bankrupt because OPEC drove the price per barrel down from $98/barrel to $52/barrel, a nearly 50% cut to the price.
You are dumb because you think the US oil industry operates in a vacuum and isn't a minor player in the global oil reserve market.
Bai Lan
Let It Rot
Yes, and OPEC -and only OPEC- has the power to dramatically increase or decrease the price per barrel, depending on what their objectives are.
If OPEC woke up tomorrow and chose violence, they could bankrupt the US oil industry very easily by simply increasing their production.
Why would you dare run the risk of that? Because you're TA and you don't know what the fuck you're talking about, but you got a big fuckin' mouth that you can't control.
T. A. Gardner
Thread Killer
https://www.investopedia.com/articl... are,oil prices, but Russia has also... More
So, raising domestic production could cause a decline in the price of oil, and it could decrease the domestic price of oil regardless of the international market.
Another issue affecting the price of oil is the value of a dollar. With Bidenflation, the price of oil is being driven up regardless of production.
https://www.aximdaily.com/what-is-opec-how-influences-oil-prices/
Yeah, we know that because we lived through it 7 years ago.
What do you think happens to an oil company's bottom line when the price per barrel drops by nearly 50%, like it did in 2015-16?
Inflation is lower in the US than it is in pretty much every other country in the world.
We wouldn't have ANY inflation to worry about if you and Trump had taken COVID seriously at the start.
But you couldn't control your big, fat fuckin' mouth, and instead of the US handling COVID like Japan and South Korea did, we handled it as poorly as Russia did.
All thanks to you, you fuckin' dickhead.
T. A. Gardner
Thread Killer
Yea, I do. My checks from Conoco get smaller...
No, it's not...
https://www.inflationtool.com/rates...e by Country Country, 2.29 43 more rows
I had nothing to do with that, and we'd still have inflation.
Just can't resist the only answer you have, ad hominem and insults...
ROFL
U.S. inflation is one of the highest in the world
https://fortune.com/2021/11/25/us-inflation-among-highest-in-world-biden-turkey-supply-chain/
U.S. also had the third-highest increase in inflation, 3.58 percentage points, between the third quarter of 2019 and the same period this year
Geeko Sportivo
Verified User
You are a BUTT-HURT psycho! Someone may oughta' check your background for mental disorder incidents.
And no! I an not on the side of GREENIE WACK JOBS but you are!
I got your Greenie Wack Job right here Asshole!......
Well, more than that...those companies go bankrupt.
42 of them in 2015 alone all because OPEC increased production and drove the price per barrel down by nearly 50%...and then they increased production MORE in 2016 which further drove down the price per barrel, leading to MORE US bankruptcies.
So it's not in US oil companies interest to increase production because that will only result in lower revenues; it's the same thing with natural gas...you wanted more of it, so they increased production, but they increased it so much that it drove down the price of the natural gas so low that it bankrupted 100 companies.
So once again, we have ANOTHER instance of TA lazily and sloppily posting links he didn't vet fully.
OK, so that's the first problem with using links like these...completely unsourced.
Secondly, take a look at the "Current inflation Rate" column...see how they have the inflation number there? But then see the date right next to it? Not a single one of those figures on this weird link you pulled is from February 2022...and in fact, about half of the data isn't even from 2022.
So you're doing that stupid thing you always do which is to post links that end up contradicting your argument.
Sure ya did!
You were here on JPP calling COVID a hoax, saying it was no worse than the flu, treating it with snake oil, etc.
What, are you suddenly not proud of the effort you put in here the last two years? Take pride in what you did, TA...because of you and Trump, about 1M people died in the US from COVID.
It's funny how you focus on how much your feelings are hurt by my insults because focusing on the arguments in which the insults are contained isn't a winning proposition for you because the debate will ultimately have to come back to your laziness and inability to debate in good faith.
LMAO!
The date on your link is November 25, 2021, which was more than 3 months ago.
And it was looking at data from 8 months ago.
Is time not linear anymore? Or is time only linear when it's convenient for you?