USA Oil Output to Hit Record This Year

Cypress said:
So MAGAs lied their flabby asses off that Biden destroyed the domestic oil production
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This tiny increase is not enough to keep up with demand and they can't do more because of Biden so prices are going to rise for the consumer.

The oil industries are trying to do what they can but their hands are tied.

200,000 a day isn't anything.
 
Tinkerpeach said:
This tiny increase is not enough to keep up with demand and they can't do more because of Biden so prices are going to rise for the consumer.

The oil industries are trying to do what they can but their hands are tied.

200,000 a day isn't anything.
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Oil demand in USA is now less than it was before COVID because more people are teleworking than commuting to work.
 
gas back up to $3.99 here......it's a good thing the federal courts ordered Biden to stop blocking domestic production last year or the prices would be even higher......
 
Tinkerpeach said:
It's still going up.


The EIA projects U.S. total petroleum consumption, a proxy for demand, will rise by 100,000 bpd to 20.4 million bpd this year, and another 400,000 bpd to 20.8 million bpd in 2024.Jul 11, 2023

https://www.reuters.com/markets/com... projects U.S. total,20.8 million bpd in 2024.
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Increase is measured relative to The starting baseline. Just hollering about 'increases' is fairly meaningless. Consumption is down compared to 2019, so any increases are just working our way back to the 2019 peak consumption.

Because so many people are teleworking, there's no reason to expect oil production to be massively higher than in 2019.
 
Cypress said:
Increase is measured relative to The starting baseline. Just hollering about 'increases' is fairly meaningless. Consumption is down compared to 2019, so any increases are just working our way back to the 2019 peak consumption.

Because so many people are teleworking, there's no reason to expect oil production to be massively higher than in 2019.
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That's not accurate.

Oil consumption will always rise as the population increases.

Sure, the pandemic slowed it drastically but now that we are back to normal we will keep going up.

And it's not just us, global oil demand is going up even faster.
 
Tinkerpeach said:
That's not accurate.

Oil consumption will always rise as the population increases.

Sure, the pandemic slowed it drastically but now that we are back to normal we will keep going up.

And it's not just us, global oil demand is going up even faster.
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Forbes:
"the fact remains that in 2022, U.S. oil consumption was 5.25% lower than in 2019."

https://www.forbes.com/sites/michae...tailed-look-at-us-oil-demand/?sh=4d077dbd35a4




Why would a MAGA demand and scream that oil companies produce substantially more oil now than in 2019?

Oil companies are going to produce in response to consumer demand
 
guno said:
US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast.

Higher-than-expected well productivity and rising crude prices will help boost US production to a record 12.8 million barrels a day in 2023, up from a previous forecast of 12.6 million, according to a monthly report from the US Energy Information Administration released Tuesday. The US averaged about 11.9 million barrels a day in 2022.

https://www.rigzone.com/news/wire/u...ail&utm_campaign=daily&utm_content=articleone
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:rofl2:

according to a new government forecast

Only willful idiots and morons trust Government statistics, especially from this administration.

Meanwhile, US consumption of refined products this year will be lower than previously expected, the EIA said. The country will use 4% less jet fuel in the third quarter than in its prior forecast as the US air travel boom starts to lose steam. The agency’s forecasts for gasoline and diesel consumption also were adjusted lower for both the third quarter and full year.

Still, the EIA’s forecast for total oil demand in the US this year was increased because of the growing use of natural gas liquids.

Morons like guAno cannot read past the headlines. :laugh:

Meanwhile:

Biden withdrew 180 million barrels from the strategic reserve starting in March 2022, bringing the stockpile to its lowest level since the 1980s.

Biden’s drawdown brought the reserve to about half its approximately 700-million barrel capacity as he sought to tame high gasoline prices in the aftermath of Russia’s invasion of Ukraine. Tapping the reserve is among the few actions a president can take by himself to try to control inflation, an election-year liability for the party in control of the White House.

The price for the oil purchase was not announced, but benchmark West Texas Intermediate crude oil was selling at about $74 per barrel when the transaction was approved. Benchmark West Texas Intermediate crude oil was selling at $81.85 per barrel on Wednesday amid tighter global supplies.

This President is using US taxpayers as saps.

guAno
noun
gua·no | \ ˈgwä-(ˌ)nō
: a fertilizer containing the accumulated excrement of seabirds or bats broadly : excrement especially of seabirds or bats
 
Althea said:
So the output is up app. 200,000 barrels/day over forecasts.

OPEC+ is cutting production by more than 1,000,000 barrels/day.


Of course production is 'magically' increasing.

They waited for prices to climb.

The U.S is no better than OPEC.

We need a national oil company
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If anyone wonders how stupid Biden voters are, look no further than this dumbass. Unreal.
 
Cypress said:
Forbes:
"the fact remains that in 2022, U.S. oil consumption was 5.25% lower than in 2019."

https://www.forbes.com/sites/michae...tailed-look-at-us-oil-demand/?sh=4d077dbd35a4




Why would a MAGA demand and scream that oil companies produce substantially more oil now than in 2019?

Oil companies are going to produce in response to consumer demand
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Yes because we just went through a pandemic and haven't recovered fully from it. As we do the oil demand will go back up again.

Really, this isn't rocket science here.

The shit only ended last year.
 
Geeko Sportivo said:
Biden asked the Oil Companies to "Drill Baby Drill" and they responded really well.

And the Oil Companies are still bringing in Record Profits. So who is not happy?

Biden is happy, The Oil Companies are happy. But the people are not happy because they still feel like they are paying too much at the pump.

Well, everybody settle down. Summer gasoline is naturally higher because most US gasoline manufacturers do not offer Alcohol as an additive during the summer because of the evaporate rate increases during our hottest months of the year. So naturally gasoline without the additive of alcohol is going to be higher. Alcohol gasoline will not be available for another 5-6 weeks in most areas of the country. But, the price of gasoline will go down when the alcohol infused gas becomes available again in about 5 to 6 weeks.

And when Summer is over, gasoline will go down just because the demand for it will go down, as school starts and Football season begins.

Gasoline prices will fall back to the $2.70 average cost per gallon in most areas at the beginning of Fall!

But until then, the price of gasoline will probably float around the $3.30 mark for the rest of the Summer here in Dallas!

We are lucky here in Texas, because they manufacture Gasoline here in Texas, and we aren't that far away from the Refineries and we don't have to pay as much for it, like other states do as Gasoline stations pay more for gasoline in areas that are farther away from the refineries in delivery costs. And of course state taxes vary from state to state as well.

SO BE HAPPY- It could be much worse. Gasoline is available and I believe at a great price.

Diesel fuel is another subject. It remains high, too high, and is keeping everything that has to be delivered by diesel Truck higher on cost. It is one of our major inflationary factors.

Joe Biden has asked the Gasoline Refineries to make more Diesel Oil available, but, that will only increase gasoline prices according to the Refineries. It is one of those Robbing Peter to Pay Paul sort of things. But, even if we have to pay more for gasoline, I still think it would be worth it to bring overall inflation down. But that is just me, and my little car doesn't use much gas.

SO, I will ask you! Would you be willing to pay a little more for your gasoline- If it were to bring inflation down back to normal levels on most everything else?

Yes, No? Maybe?
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MORON alert. Biden has done more to CUT production than any other President in history. Democrats hate big oil, until it's election season and they are getting hammered on the economy. :palm:
 
Cypress said:
Oil companies don't make money from how many wells they drill. They get paid on the amount of oil they produce.

Oil is hitting record levels even with a substantial amount of the work force teleworking and not burning gasoline.

Drilling and exploration technology have reduced the risk of drilling dry holes. One horizontal well can produce the same amount of oil it used to take like five wells.
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So oil production is at an all-time high yet prices remain double what they were when Biden took office. Hell of a strategy eh? DUMB.
 
Lightbringer said:
What part of net exporter do YOU not understand? If we're exporting then we're sending our oil out of the country.
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No, Senators, the United States Is Not Currently a Net Oil Exporting Country

Generally, when people talk about “oil” and U.S. oil imports and exports, they are almost always referring to petroleum and petroleum products, such as what is included in the Energy Information Administration’s Petroleum Overview. But “oil” can also refer to “crude oil.” This matters in this context, because according to EIA’s data here, the United States has never been a net exporter of crude oil. As shown below, the United States has been a net exporter of petroleum.

In fact, just last year, the United States was a net petroleum exporter, however, so far this year it has been a net petroleum importer, not an exporter. Here’s the latest petroleum data from the Energy Information Administration in thousand barrels per day.

Every month, the United States imports and exports some oil as well as refined petroleum products. The United States was a net exporter of petroleum in January, February and April, but otherwise this year it has been a net importer of petroleum. To suggest that oil prices are high because of petroleum exports is to ignore the data.

If these Senators and President Biden are concerned about the price of gasoline, then it’s time to push for more domestic production instead of attacking domestic oil and gas producers. That means more safe and dependable pipelines and a stable and predictable leasing system on federal lands. OPEC+ has stated their intention of not ramping up their oil exports to combat globally high prices. OPEC+ countries, after all, are happy making billions of dollars with oil above $80 a barrel. Russia is happy to have become the #2 importer of oil into the United States this year. But the United States is the world’s largest oil producer. And as we have previously shown, over the past decade, as oil prices have moderated, the biggest supplier of new oil on the international market was the United States. It’s time to stop attacking domestic oil producers and start reducing the hurdles to higher domestic oil production. That would truly help American businesses and consumers.

https://www.americanenergyalliance....es-is-not-currently-an-oil-exporting-country/
 
guno said:
US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast.

Higher-than-expected well productivity and rising crude prices will help boost US production to a record 12.8 million barrels a day in 2023, up from a previous forecast of 12.6 million, according to a monthly report from the US Energy Information Administration released Tuesday. The US averaged about 11.9 million barrels a day in 2022.

https://www.rigzone.com/news/wire/u...ail&utm_campaign=daily&utm_content=articleone
Click to expand...

Guano the fake jew, filled up this AM with premium and it was $4.68/gal.
 
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