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Biden Releases 50 Million Barrels of Oil Pretending Fight the Biden Inflation

Threegoofs said:
I’m so old I remember when Conservatives were whining that Biden wouldn’t release oil from the strategic reserve to fix ‘skyrocketing’ gas prices.
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Didn’t realize you were born yesterday?
 
code1211 said:
Biden released 50 million barrels of oil from the Strategic Petroleum Reserve trying to slow down inflation rising due to his failed planning at the fastest rate in decades across the economy in general and in gas prices in particular.
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Failed planning?

Oh, I get it. You wanted Hiden to declare a national emergency and take total control of the economy to dictate who would go back to work and when in order to avoid a rush of consumer consumption.
code1211 said:
We are producing almost 2 Million Barrels of oil less per day than in 2020.
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Yes, it's called Economics.

When oil and natural gas prices drop below certain levels due to low Demand, that results in 1,000s of the 950,000+ oil and natural gas wells being shut down because they are not profitable to operate. If you don't understand that you lose money when it costs $38 to pump one barrel of oil that sells for $10 then you should seriously consider giving your high school diploma back.

It takes an oil service crew 6-10 days working 8-12 hours per day to shut down a well, cap it in accordance with EPA regulations, blow out the feeder lines, close all the valves, and drain the coolant and hydraulic fluids from machinery to set it up for long-term storage.

Just in case you don't get it, you cannot restart a well with a mouse-click. You have to send an oil service crew back out to the well to reverse the process, which takes 6-10 days working 8-12 hours a day.

Apparently, you are equally ignorant of the fact that 61 oil service companies filed for Chapter 11 bankruptcy protection in 2020.

Yeah, that's right....you have a shortage of oil service workers.

code1211 said:
Biden CREATES THE SHORTAGE PROBLEM...
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Wrong answer. You and your State governors created the shortage problem when you shut down your economies due to STUPID-19.
 
code1211 said:
Not sure what your thesis might be.

Are you saying that there is more oil now than there was 2 years ago?

If not, then increasing the supplies of oil seems like the best way to lower the prices.

Regardless of what anyone says the cause might have been, the effect must be addressed by actions in the real world. What is the best way to address the effect of the ongoing reduced supplies of oil?
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NO
MY point is there are people out here saying when Biden shut down the Keystone XL pipeline it caused supply to go down and prices to go up and up so fast.
I want to know how that could happen seeing that pipeline was only about 8 to 10% complete and wouldn't be finished for several years
and how does stopping the giving out of NEW leases on Federal lands that IF drilled on wouldn't bring a well in for about a year IF they started to drill right away
People are also saying Biden stopped the drilling of new wells on Federal land that was already leased when he didn't
If a oil company has a lease on Federal land they can still drill on it . they can't Frack but they can drill
So my question to these people is just how does these actions drive up oil prices so fast and drive down supply
and one more point the Keystone LINE 3 was shut down back in 2017 when Trump was in office , A pipeline that WAS transporting oil to refineries , and was rebuilt and came back on line last March actually delivering oil to refineries ( a pipeline that basically took the place of the XL pipeline )
and you haven't heard too many people on the right say ONE word about that
and I would imagine that should have had some effect on supply seeing as I said it IS transporting oil unlike the XL that wasn't
and like I said I haven't got an answer from anybody
Have a nice afternoon
 
code1211 said:
The Democrats have stated their goal to be the rise of petroleum prices in order to make the implementation of alternative energy sources more attractive.

Biden's policies seem to be more of the many idiocies that promote this goal.

Biden's policies certainly don't seem to be aimed at reducing the price of petroleum.

Do you disagree?
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For one thing I haven't heard one Dem say they wanted higher oil and gas prices can you please post where you got this info from
My using the phrase "Pipeline " is from the lie that Biden shut down a "PIPELINE " that was delivering oil when it wasn't and that is what caused supply to go down and price go up
then you asked " Are Biden's policies aimed at increasing the availability of petroleum and fossil fuels or at tightening them?"
My point has been nothing Biden did should have effected supply or price of oil so soon
He shut down a pipeline that wasn't finished and had not transported one drop of oil and He did NOT stop the drilling of new wells on federal land that has already been leased out he just stopped giving out and more new leases for awhile
so again just how did these actions effect supply and price so fast ( or should I ask how did his actions effect supply and oil prices at all )
have a nice day.
 
Tbird19482 said:
I want to know how that could happen seeing that pipeline was only about 8 to 10% complete and wouldn't be finished for several years
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Tbird19482 said:
People are also saying Biden stopped the drilling of new wells on Federal land that was already leased when he didn't
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Dear mister TBird, after 4/5 times the same post, I too start to suspect that these are very uneasy questions for some people.
Would love an answer, don't think you're going to get it.
 
Mircea said:
Failed planning?

Oh, I get it. You wanted Hiden to declare a national emergency and take total control of the economy to dictate who would go back to work and when in order to avoid a rush of consumer consumption.


Yes, it's called Economics.

When oil and natural gas prices drop below certain levels due to low Demand, that results in 1,000s of the 950,000+ oil and natural gas wells being shut down because they are not profitable to operate. If you don't understand that you lose money when it costs $38 to pump one barrel of oil that sells for $10 then you should seriously consider giving your high school diploma back.

It takes an oil service crew 6-10 days working 8-12 hours per day to shut down a well, cap it in accordance with EPA regulations, blow out the feeder lines, close all the valves, and drain the coolant and hydraulic fluids from machinery to set it up for long-term storage.

Just in case you don't get it, you cannot restart a well with a mouse-click. You have to send an oil service crew back out to the well to reverse the process, which takes 6-10 days working 8-12 hours a day.

Apparently, you are equally ignorant of the fact that 61 oil service companies filed for Chapter 11 bankruptcy protection in 2020.

Yeah, that's right....you have a shortage of oil service workers.



Wrong answer. You and your State governors created the shortage problem when you shut down your economies due to STUPID-19.
Click to expand...

I didn't shut down the economy. I was against it when it happened and am still against it.

The Indiana Governor has extended his emergency powers again. This makes it about 20 times. The legislature, which is a veto proof Republican Majority, allows this abuse to continue.

Every time the governor extends his emergency powers, the Feds send Indiana money.

When a lying thief steal money that other lying thieves are making available for that purpose, we can hardly be surprised that the lying thief takes it.

We might start, at some point, to ask why the lying thieves are stealing from all of us to steal from all of us.
 
Tbird19482 said:
NO
MY point is there are people out here saying when Biden shut down the Keystone XL pipeline it caused supply to go down and prices to go up and up so fast.
I want to know how that could happen seeing that pipeline was only about 8 to 10% complete and wouldn't be finished for several years
and how does stopping the giving out of NEW leases on Federal lands that IF drilled on wouldn't bring a well in for about a year IF they started to drill right away
People are also saying Biden stopped the drilling of new wells on Federal land that was already leased when he didn't
If a oil company has a lease on Federal land they can still drill on it . they can't Frack but they can drill
So my question to these people is just how does these actions drive up oil prices so fast and drive down supply
and one more point the Keystone LINE 3 was shut down back in 2017 when Trump was in office , A pipeline that WAS transporting oil to refineries , and was rebuilt and came back on line last March actually delivering oil to refineries ( a pipeline that basically took the place of the XL pipeline )
and you haven't heard too many people on the right say ONE word about that
and I would imagine that should have had some effect on supply seeing as I said it IS transporting oil unlike the XL that wasn't
and like I said I haven't got an answer from anybody
Have a nice afternoon
Click to expand...

You seem to be harping on the Keystone XL Pipeline.

Did I mention that?

As a part of the over all opposition to the exploitation of the abundance of Fossil Fuels possessed by the countries of north America, it seems like it might be a factor in addressing planning, but that's about it.

To my way of thinking, flooding the market with low cost oil seems like a good way to lower the price of gas at the pump for Americans.

Does this seem logical to you?
 
Tbird19482 said:
For one thing I haven't heard one Dem say they wanted higher oil and gas prices can you please post where you got this info from
My using the phrase "Pipeline " is from the lie that Biden shut down a "PIPELINE " that was delivering oil when it wasn't and that is what caused supply to go down and price go up
then you asked " Are Biden's policies aimed at increasing the availability of petroleum and fossil fuels or at tightening them?"
My point has been nothing Biden did should have effected supply or price of oil so soon
He shut down a pipeline that wasn't finished and had not transported one drop of oil and He did NOT stop the drilling of new wells on federal land that has already been leased out he just stopped giving out and more new leases for awhile
so again just how did these actions effect supply and price so fast ( or should I ask how did his actions effect supply and oil prices at all )
have a nice day.
Click to expand...

When a parent says something like, "Stop that right now or you'll be sorry", if the child stops, was the child responding to the threat or was the stoppage only a weird coincidence?

The threat of eliminating the reward AFTER the risk has been taken is the real thing to a business person considering risking venture capital. Eliminate the reward adn you will eliminate the risk

In passing, the same also applies to many things like looting and assault. When the risk-reward equation is demonstrated to have changed, the outcomes also change.

patriotdailypress.org

Jen Psaki Says the Quiet Part Out Loud on High Gas Prices - Patriot Daily Press

One of the first things Joe Biden did upon taking office was to kill the Keystone XL pipeline. Since then, gas prices have gone up, which has increased the price of goods and labor. When Biden took office, our country was energy independent. It no longer is, and Biden, rather than acknowledging...
patriotdailypress.org

www.westernjournal.com

WSJ Sounds Alarm: $5 Per Gallon Gasoline Is on Its Way to Pumps Across America if Biden Goes Through with Plans

'So enjoy your $3 gasoline. It may not last long,' Allysia Finley of The Wall Street Journal wrote in an opinion piece Friday.
www.westernjournal.com www.westernjournal.com
 
code1211 said:
You seem to be harping on the Keystone XL Pipeline.

Did I mention that?

As a part of the over all opposition to the exploitation of the abundance of Fossil Fuels possessed by the countries of north America, it seems like it might be a factor in addressing planning, but that's about it.

To my way of thinking, flooding the market with low cost oil seems like a good way to lower the price of gas at the pump for Americans.

Does this seem logical to you?
Click to expand...
MY point is the people on the right blame the supply going down and price of oil going up on Biden shutting down the Keystone XL pipeline
I just want them to explain to me just how does shutting down the Construction of a pipeline that was only 8% complete
drive up the price of oil and make the supply go down
then they never say one word about the Keystone LINE 3 that was shut down back when Trump was in office 2017 and brought back on line last March ( that basically took the place of the XL and should have kept supplies stable and prices steady )
it is easy to get me to stop talking about it all one of them has to do is show me how Biden's policy of shutting it down caused supplies to go down and prices to go up
YES IF it was finished and transporting oil and he shut it down I could see it but it was ONLY 8% complete
or ADMIT it was just right wing BS and just distortions and lies to make Biden look as bad as Trump was
Have a nice night
 
Meanwhile in Oklahoma we are happy oil prices are high. For the last several years production was unprofitable and all but ceased. Now that the prices are back to WHERE THEY WERE, our oil production is back in business and many subsidiary businesses are also thriving as a result, as is our overall state economy and coffers.

Stop being freaking lemmings and realize that there is a broader picture than what is being dribbled down to your plate to eagerly lap up.
 
code1211 said:
Why are you asking that question?

The article talks about the Biden policy changes that address energy supplies.
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Future energy supplies not present supplies
 
Tbird19482 said:
MY point is the people on the right blame the supply going down and price of oil going up on Biden shutting down the Keystone XL pipeline
I just want them to explain to me just how does shutting down the Construction of a pipeline that was only 8% complete
drive up the price of oil and make the supply go down
then they never say one word about the Keystone LINE 3 that was shut down back when Trump was in office 2017 and brought back on line last March ( that basically took the place of the XL and should have kept supplies stable and prices steady )
it is easy to get me to stop talking about it all one of them has to do is show me how Biden's policy of shutting it down caused supplies to go down and prices to go up
YES IF it was finished and transporting oil and he shut it down I could see it but it was ONLY 8% complete
or ADMIT it was just right wing BS and just distortions and lies to make Biden look as bad as Trump was
Have a nice night
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As the cancelling of the Keystone XL Pipeline might contribute to the DECREASE of supply, I suppose it also contributes to the INCREASE of prices.

That general rule applies to all commodities. It seems logical it would apply in this as well.

In relation to ALL POLICIES either increasing or decreasing the supply of any commodity, including petroleum, it seems that the increase or decrease of supply will impact the resulting comparative value.

Do you think this is untrue?

Petroleum is a commodity. Nobody cares where it originated. However, if the lights go out, people want them back on and they don't care what needs to happen to light up their computer screen again.

Lower supply in the environment of constant demand creates higher demand. That's just the way it is.
 
code1211 said:
As the cancelling of the Keystone XL Pipeline might contribute to the DECREASE of supply, I suppose it also contributes to the INCREASE of prices.

That general rule applies to all commodities. It seems logical it would apply in this as well.

In relation to ALL POLICIES either increasing or decreasing the supply of any commodity, including petroleum, it seems that the increase or decrease of supply will impact the resulting comparative value.

Do you think this is untrue?

Petroleum is a commodity. Nobody cares where it originated. However, if the lights go out, people want them back on and they don't care what needs to happen to light up their computer screen again.

Lower supply in the environment of constant demand creates higher demand. That's just the way it is.
Click to expand...
Future supply will effect future prices

Todays prices are effected by todays supply. A pipeline that would not add to supply for a year is not effecting the price today

That is just the way it is
 
code1211 said:
As the cancelling of the Keystone XL Pipeline might contribute to the DECREASE of supply, I suppose it also contributes to the INCREASE of prices.

That general rule applies to all commodities. It seems logical it would apply in this as well.

In relation to ALL POLICIES either increasing or decreasing the supply of any commodity, including petroleum, it seems that the increase or decrease of supply will impact the resulting comparative value.

Do you think this is untrue?

Petroleum is a commodity. Nobody cares where it originated. However, if the lights go out, people want them back on and they don't care what needs to happen to light up their computer screen again.

Lower supply in the environment of constant demand creates higher demand. That's just the way it is.
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well as LORD Tammerlain said
'"Todays prices are effected by todays supply. A pipeline that would not add to supply for a year is not effecting the price today"
Again the XL pipeline wouldn't even be finished for several YEARS
If you don't understand that means it would NOT transport one drop of oil for several YEARS that is why I have been asking people on here who are blaming Biden 's shutting down of the XL pipeline for the supply drop and price going up just how does that happen.
lets see Pipeline not going to be done for several YEARS shut it down and prices will go up right away and supply will drop right away.
Keystone line 3 comes back on line in March 2021 starts transporting oil to refineries and nobody says a word well I guess that must have reduced supply and drove up prices too.
YES the shutting down of the Keystone XL pipeline MAY have an effect on supply and prices 3, 4, 5 YEARS from now but it shouldn't have any effect on the supply or prices NOW and NOT this fast
this is all BS to make Biden look bad
Have a nice day
 
Lord Tammerlain said:
Future supply will effect future prices

Todays prices are effected by todays supply. A pipeline that would not add to supply for a year is not effecting the price today

That is just the way it is
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Not exactly true.

If the supply is just fine and rumors of upcoming shortages are embraced, shortages will occur.

When the Covid Scare first hit, the supply of toilet paper was just as it had been. However, the shelves were suddenly empty.

Perception is reality for many.
 
Tbird19482 said:
well as LORD Tammerlain said
'"Todays prices are effected by todays supply. A pipeline that would not add to supply for a year is not effecting the price today"
Again the XL pipeline wouldn't even be finished for several YEARS
If you don't understand that means it would NOT transport one drop of oil for several YEARS that is why I have been asking people on here who are blaming Biden 's shutting down of the XL pipeline for the supply drop and price going up just how does that happen.
lets see Pipeline not going to be done for several YEARS shut it down and prices will go up right away and supply will drop right away.
Keystone line 3 comes back on line in March 2021 starts transporting oil to refineries and nobody says a word well I guess that must have reduced supply and drove up prices too.
YES the shutting down of the Keystone XL pipeline MAY have an effect on supply and prices 3, 4, 5 YEARS from now but it shouldn't have any effect on the supply or prices NOW and NOT this fast
this is all BS to make Biden look bad
Have a nice day
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It is you that brought up the pipeline as you referenced the posts of others.

I posted here that "As the cancelling of the Keystone XL Pipeline might contribute to the DECREASE of supply, I suppose it also contributes to the INCREASE of prices."

It seems you enjoy ignoring whatever it is that I post in order to return to your pipeline preoccupations.

Regarding the pipeline's impact on supply, it would likely not increase or decrease supply as the oil STILL is transported by rail or road. It only decreases the cost and danger of the transport.
 
code1211 said:
Not exactly true.

If the supply is just fine and rumors of upcoming shortages are embraced, shortages will occur.

When the Covid Scare first hit, the supply of toilet paper was just as it had been. However, the shelves were suddenly empty.

Perception is reality for many.
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Provided there is storage space. The price of oil in April or May 2020 went negative for a short period for a fear of a lack of storage
 
code1211 said:
It is you that brought up the pipeline as you referenced the posts of others.

I posted here that "As the cancelling of the Keystone XL Pipeline might contribute to the DECREASE of supply, I suppose it also contributes to the INCREASE of prices."

It seems you enjoy ignoring whatever it is that I post in order to return to your pipeline preoccupations.

Regarding the pipeline's impact on supply, it would likely not increase or decrease supply as the oil STILL is transported by rail or road. It only decreases the cost and danger of the transport.
Click to expand...
What don't you get?
I am asking a simple question and you nor anybody on the right can seem to answer it
How does shutting down the construction of a pipeline that is only 8% complete drive down oil supplies so fast and oil prices UP so fast?
Do you understand it is NOT complete , it has not transported one drop of oil . It will be several YEARS before it is complete and transporting oil
so How does that drive down supply and prices up NOW and so fast?
Fact is people who were Blaming the supply drop and Price going up on Biden closing the XL pipeline down all lied just to make Biden look bad
there is NO way that should have any effect on TODAY'S supply or prices IT ISN'T going to be finished for several YEARS
BUT what should have drove UP supply and prices DOWN was putting the Keystone line 3 BACK ONLINE back in MARCH and you don't hear a word from those people on the right about that
Have a nice day
 
code1211 said:
Biden released 50 million barrels of oil from the Strategic Petroleum Reserve trying to slow down inflation rising due to his failed planning at the fastest rate in decades across the economy in general and in gas prices in particular.

50 million barrels of oil amounts to about 2 1/2 days of US oil use. Big whoop! Similar to bringing a half eaten bag of vending machine Lay's to the Thanksgiving Dinner when asked to bring "the potatoes".

Stated another way, the US was producing about 13.1 Million Barrels of oil in February 2020. November 2021? That's down to 11.4 Million Barrels of oil of US production per day.

We are producing almost 2 Million Barrels of oil less per day than in 2020. The shortfall of our production will eat away Biden's oil leaked from the SPR over the course of about a month's time.

Biden CREATES THE SHORTAGE PROBLEM and then, USING THE RESERVES that were FILLED UP BY TRUMP, he is now trying to claim credit for SOLVING THE PROBLEM HE CREATED.

Like EVERYTHING ELSE BIDEN HAS DONE, we'd have been better off IF HE JUST STAYED ASLEEP AND DID NOTHING, EVER, TO ANY OF US.

He just can't help himself. He has to meddle and make things worse. This is not unexpected. He and his gang WANT to inflate the price of gas. IT'S A PART OF THEIR MASTER PLAN.

It's too bad he's working against the American people rather than working for us. Well... At least there are no mean Tweets. He's likely too stupid to learn how to work the Twitter machine.

In passing, when asked, our idiot Secretary of Energy did not know how much oil the US uses in a day. Stupidity is a real confidence builder. Doesn't know her numbers. A buffoon. WTF is she doing?

www.macrotrends.net

U.S. Crude Oil Production - Historical Chart

Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels produced per day.
www.macrotrends.net www.macrotrends.net
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This is not good news for Republicans, who want everything to be bad so Biden looks bad, damn America.

It is no different than the Republican attempt to prolong the Great Recession in order to undermine Obama.
 
Tbird19482 said:
What don't you get?
I am asking a simple question and you nor anybody on the right can seem to answer it
How does shutting down the construction of a pipeline that is only 8% complete drive down oil supplies so fast and oil prices UP so fast?
Do you understand it is NOT complete , it has not transported one drop of oil . It will be several YEARS before it is complete and transporting oil
so How does that drive down supply and prices up NOW and so fast?
Fact is people who were Blaming the supply drop and Price going up on Biden closing the XL pipeline down all lied just to make Biden look bad
there is NO way that should have any effect on TODAY'S supply or prices IT ISN'T going to be finished for several YEARS
BUT what should have drove UP supply and prices DOWN was putting the Keystone line 3 BACK ONLINE back in MARCH and you don't hear a word from those people on the right about that
Have a nice day
Click to expand...

Again, transport of oil by pipeline is cheaper and safer.

If the costs to do a thing are increased, trucks and trains vs pipelines, then the price to the ultimate customer is also increased.

We aren't quite up to 2 million miles of pipelines in use in the US right now, but we're getting there. The annual growth of pipeline miles is evidence of the efficiencies they provide.

U.S. Oil and Gas Pipeline Mileage | Bureau of Transportation Statistics

KEY: N = data do not exist; R = revised. a Excludes service pipeline. Data are not adjusted to common diameter equivalent. Mileage as of the end of each year. b Before 1985, data include field line mileage.
www.bts.gov www.bts.gov
 
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