Yeah but we are on the brink of WW3 thanks to the ignorant green deal people! So tapping the reserves right now is not a great idea! Drill and build refineries! It is amazing that these greenies are ok with the oil we get from Russia as long as we don't drill our own they, are ignorance personified!
Let's Discuss why it's a bad idea to be tapping the strategic oil reserve!
- Thread starter Wolverine
- Start date
Yeah but we are on the brink of WW3 thanks to the ignorant green deal people! So tapping the reserves right now is not a great idea! Drill and build refineries! It is amazing that these greenies are ok with the oil we get from Russia as long as we don't drill our own they, are ignorance personified!
ExpressLane
Verified User
We can produce ALL of our own energy demands. We need to prevent $7 a gallon gasoline NOW. When America is oil dependent America is weak. When America is weak WW3 is MORE likely. We need the SOR oil now to make America independent of Russia's demands. And drill drill drill to turn on the oil spigots. We can't risk spiraling gas cost and spiraling inflation when the SOR can help to buffer the situation until oil production increases. We have the refining capacity now but we should continue to build for future needs.
What did I win?
You say that like the Bidenites think it's a bad thing.
Stringfellow Hawk
Member
that is less than 2 days of demand, you run with that. Thank you for supporting the Putin war machine by not demanding we cut Russian imports
If we can refine it why are we shipping the oil from the reserve out?
ExpressLane
Verified User
Yeah these idiots think they can drive their electric cars and everything will be OK. If everyone switches to EV our electric grid would need more gas fired electricity. Gas comes from Oil exploration which Biden has curtailed. So unless Tesla comes out with a model with a windmill on top they are Fuked.
Can't cut it till we know it will be replaced immediately! Gas goes up over 140$ a barrel get ready for really bad times!
I think I can see a flaw in even that idea.
ICYMI, really bad times began at noon on January 20, 2021.
She's never learned how to think before she types, apparently, poor thing.
ExpressLane
Verified User
Out where? Trust me I come from south Texas near to one the largest refineries in the world. We have the refining capacity. The XL pipeline was to bring Canadian oil to those refineries in south Texas.
true!
WON'T MAKE A DIFFERENCE.
How many times does it need to be said?
We only control 2.1% of the world's global oil reserves, and OPEC controls 80%.
So nothing we do will have anything more than a nominal and temporary impact on the price per barrel because we do not control that market, OPEC does.
The risk we run of drilling more is that OPEC responds by increasing their production thus driving down the price per barrel and bankrupting US oil companies which is exactly what happened in 2015-2016.
In 2014, the price per barrel of crude was about $98; in 2015, the price per barrel of crude was about $52; in 2016, the price per barrel of crude was about $46.
Why do you think the price of oil dropped by 50% in 2 years, and why do you think 42 US oil companies went bankrupt in 2015 alone?
ExpressLane
Verified User
Maybe they can hook their EVs up to their Pelotons
Maybe.
ExpressLane
Verified User
A lot of companies went bankrupt because they drilled with projections of $98 a barrel oil. Many of those oil ventures were not viable on $50 a barrel oil. Over all The oil industry does just fine on $50 a barrel. What the industry needs is a consistent fair price so they can make good choices on risk vs return. I'm sure that some projects that make sense at $110 won't make sense if oil returns to $50.
ExpressLane
Verified User
Putin is a shrimp isn't he.I'll just leave this here.
Putin's Message and Saudi Crown Prince Laugh At Western Sanctions
Vladimir Putin spoke by phone with Saudi Arabia's Crown Prince Mohammed bin Salman on Thursday, buttressing a crucial geopolitical alliance.
OPEC+, which is led by Saudi Arabia and Russia, has largely ignored bungling Biden's sanctimonious-sounding but ineffective sanctions.
The discussion emphasized "mutual interest in further comprehensive development of the Russian-Saudi partnership."
https://www.ndtv.com/world-news/russias-vladimir-putins-message-for-saudi-crown-prince-mohammed-bin-salman-amid-western-sanctions-over-ukraine-invasion-2802917
Not from where I'm standing. Maybe bin Salman is standing on a pile of US dollars.
We just need to start importing Venezuelan oil, again!
Here is an article on investors steering clear of Russian oil.
https://www.reuters.com/business/en...ssian-oil-traders-are-avoiding-it-2022-03-01/
Here is an article on investors steering clear of Russian oil.
https://www.reuters.com/business/en...ssian-oil-traders-are-avoiding-it-2022-03-01/