Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden just can't help himself.

He is demonizing the oil industry. Again.

No, Joe, their reluctance to drill more and produce more ISN'T because they don't want the price of oil to come down.
Their reluctance to drill is YOUR fault. You have sent the message to them that what they produce is not welcomed in this country. Why would they produce more when you continue to fund green energy efforts AT THEIR EXPENSE? Why would they produce more when you have continued to tell them you are going to put them out of business?

And, Americans are not buying the "Putin's price hike" narrative. They know the price of gas was increasing well before the war in Russia started.

And, regarding the Strategic Reserve.....

The strategic reserve is strategic for a reason.
This is not a reason to tap it.

That's a lovely rant and it does encapsulate the prevailing mentality of many in the industry but forgive me for being blunt, it's complete bull from top to bottom. Bunch of freaking snowflakes.

That being said. Biden's bit about the industry being greedy today was also bull.

This is honestly it right here. The guys I know who work in O&G (mostly on the finance/investment side) are some of the biggest whiny, entitled snowflakes you've ever met. Rich dudes who always get their way and utterly HATE anything to do with clean energy, cleaning up the environment, emissions standards, etc. Despite living in some really nice places governed by Democrats where they get to enjoy clean air and water. It's maddening.

That said, there is a very real structural tension between future investments in fossil fuels and the transition to clean energy. A lot of the capital investments operate on a 10 year (new wells) to 30 year (new LNG transport depots) time horizon. But if, say, 50% of US vehicles are electric in the next 15 years, will you have enough time at the right prices levels to recoup your investment?

It's not an easy answer. Further, any sane American should be loathe to provide more subsidies to this industry filled with filthy rich individuals who are already greatly privileged by the tax code. I actually think the Use-or-Lose policy is a really good idea.

Tell me you don’t know anything about oil and gas investing without telling me….

Epicenter of oil and gas investing is Houston.

Everybody saw what happened to coal (whether that was right or wrong). Please tell me how you’re going to get people to make 30 year investments when they all know you only want them for the next 6 months?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:and yet, the retail prices remain high. That is simply corporate america raping the customers

Do you even understand how the buying and selling of oil and gas works?

If companies PURCHASED their supply of gas two or three weeks ago..... do you think they are going to sell that at today's market price, or at the price at which they purchased it?

One more thing.....
That drop in price is very temporary based on the announcement of release from SPR.
Once we see that the release will do nothing for actual supply, the price will go up. I would bet my salary on that.

Anonymous wrote:

Anonymous wrote:and yet, the retail prices remain high. That is simply corporate america raping the customers

Do you even understand how the buying and selling of oil and gas works?

If companies PURCHASED their supply of gas two or three weeks ago..... do you think they are going to sell that at today's market price, or at the price at which they purchased it?

Anonymous wrote:

Anonymous wrote:and yet, the retail prices remain high. That is simply corporate america raping the customers

Do you even understand how the buying and selling of oil and gas works?

If companies PURCHASED their supply of gas two or three weeks ago..... do you think they are going to sell that at today's market price, or at the price at which they purchased it?

Anonymous wrote:and yet, the retail prices remain high. That is simply corporate america raping the customers

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden just can't help himself.

He is demonizing the oil industry. Again.

No, Joe, their reluctance to drill more and produce more ISN'T because they don't want the price of oil to come down.
Their reluctance to drill is YOUR fault. You have sent the message to them that what they produce is not welcomed in this country. Why would they produce more when you continue to fund green energy efforts AT THEIR EXPENSE? Why would they produce more when you have continued to tell them you are going to put them out of business?

And, Americans are not buying the "Putin's price hike" narrative. They know the price of gas was increasing well before the war in Russia started.

And, regarding the Strategic Reserve.....

The strategic reserve is strategic for a reason.
This is not a reason to tap it.

That's a lovely rant and it does encapsulate the prevailing mentality of many in the industry but forgive me for being blunt, it's complete bull from top to bottom. Bunch of freaking snowflakes.

That being said. Biden's bit about the industry being greedy today was also bull.

This is honestly it right here. The guys I know who work in O&G (mostly on the finance/investment side) are some of the biggest whiny, entitled snowflakes you've ever met. Rich dudes who always get their way and utterly HATE anything to do with clean energy, cleaning up the environment, emissions standards, etc. Despite living in some really nice places governed by Democrats where they get to enjoy clean air and water. It's maddening.

That said, there is a very real structural tension between future investments in fossil fuels and the transition to clean energy. A lot of the capital investments operate on a 10 year (new wells) to 30 year (new LNG transport depots) time horizon. But if, say, 50% of US vehicles are electric in the next 15 years, will you have enough time at the right prices levels to recoup your investment?

It's not an easy answer. Further, any sane American should be loathe to provide more subsidies to this industry filled with filthy rich individuals who are already greatly privileged by the tax code. I actually think the Use-or-Lose policy is a really good idea.

Anonymous wrote:

Anonymous wrote:Biden just can't help himself.

He is demonizing the oil industry. Again.

No, Joe, their reluctance to drill more and produce more ISN'T because they don't want the price of oil to come down.
Their reluctance to drill is YOUR fault. You have sent the message to them that what they produce is not welcomed in this country. Why would they produce more when you continue to fund green energy efforts AT THEIR EXPENSE? Why would they produce more when you have continued to tell them you are going to put them out of business?

And, Americans are not buying the "Putin's price hike" narrative. They know the price of gas was increasing well before the war in Russia started.

And, regarding the Strategic Reserve.....

The strategic reserve is strategic for a reason.
This is not a reason to tap it.

That's a lovely rant and it does encapsulate the prevailing mentality of many in the industry but forgive me for being blunt, it's complete bull from top to bottom. Bunch of freaking snowflakes.

That being said. Biden's bit about the industry being greedy today was also bull.

Anonymous wrote: