Elon Musk calls for increase in US oil, gas production to combat Russia (1 Viewer)

[Chainsawmassacre]

The AGW cult needs to snap out if it for at least a little while. Even Musk see’s what needs to happen at this point in history.


“Hate to say it, but we need to increase oil & gas output immediately," Musk tweeted Friday. "Extraordinary times demand extraordinary measures."


“sustainable energy solutions simply cannot react instantaneously to make up for Russian oil & gas exports."

Elon Musk calls for increase in US oil, gas production to combat Russia despite negative effect on Tesla

Tesla co-founder and CEO Elon Musk called on the United States to increase its domestic oil output in response to Russia’s invasion of Ukraine while also acknowledging that his electric car company would be negatively affected by that move.

www.foxbusiness.com

 

[BlueTex]

What specifically could the Biden administration do to increase production?

 

[Chainsawmassacre]

What specifically could the Biden do to increase production?

“Shale producers have the unique ability to bring wells to production in a relatively short period, often within a matter of months. While the shale industry has limited investment to satisfy shareholder profit demands, current prices are tempting many to resume exploratory drilling. Those investment decisions have been made more difficult, however, by a White House actively working against an all-of-the-above energy policy.

Biden has a choice. He can dither at the margins with stopgap measures like tapping the Strategic Petroleum Reserve – which can provide, at best, temporary price relief – or continue to beg Saudi Arabia to pump more oil. Or he can make peace with the domestic oil and gas sector and call on it to increase output and deflate a geopolitical risk premium that has ballooned to add up to $15 to the price of a barrel of oil.”

Unleashing U.S. Oil Industry Offers Biden Path To Avoid Energy Crisis

If there was ever a time for President Joe Biden to call a truce with America’s oil and gas producers and suspend his climate agenda, now is the time. The conflict in Ukraine pushed oil prices over $100 a barrel in a market already strained by rising demand and tight supply.

www.forbes.com

And last but not least get rid of this.

U.S. unveils crackdown on methane from oil and gas industry​

U.S. unveils crackdown on methane from oil and gas industry

The United States on Tuesday unveiled a plan to slash emissions of the greenhouse gas methane from oil and gas operations as part of its strategy to crack down on climate change, drawing cautious support from both environmental groups and drillers.

www.reuters.com

 

[The Mark]

Are the supplies from Russia actually that necessary?

My understanding was that we have enough oil for our own needs, so what Musk may be talking about is replacing Russia's supplies to Europe and other areas?

But I may be wrong, I don't keep a close eye on the oil/gas/etc. supply.

 

[BlueTex]

“Shale producers have the unique ability to bring wells to production in a relatively short period, often within a matter of months. While the shale industry has limited investment to satisfy shareholder profit demands, current prices are tempting many to resume exploratory drilling. Those investment decisions have been made more difficult, however, by a White House actively working against an all-of-the-above energy policy.

Biden has a choice. He can dither at the margins with stopgap measures like tapping the Strategic Petroleum Reserve – which can provide, at best, temporary price relief – or continue to beg Saudi Arabia to pump more oil. Or he can make peace with the domestic oil and gas sector and call on it to increase output and deflate a geopolitical risk premium that has ballooned to add up to $15 to the price of a barrel of oil.”

Unleashing U.S. Oil Industry Offers Biden Path To Avoid Energy Crisis

If there was ever a time for President Joe Biden to call a truce with America’s oil and gas producers and suspend his climate agenda, now is the time. The conflict in Ukraine pushed oil prices over $100 a barrel in a market already strained by rising demand and tight supply.

www.forbes.com

And last but not least get rid of this.

U.S. unveils crackdown on methane from oil and gas industry​

U.S. unveils crackdown on methane from oil and gas industry

The United States on Tuesday unveiled a plan to slash emissions of the greenhouse gas methane from oil and gas operations as part of its strategy to crack down on climate change, drawing cautious support from both environmental groups and drillers.

www.reuters.com

As of December 31st, 2021, there were 9,173 permits to drill approved and available to drill.. Devon Energy's board authorized a ONE BILLION dollar stock repurchase plan last November, there is NO shortage of cash... I'm fine with banning importing of Russian oil, it was only 3 percent last year...

We get it... You work in the oil industry and want to use this crisis to open up drilling everywhere.... tough shit... The America PEOPLE own that land.

 

[Chainsawmassacre]

As of December 31st, 2021, there were 9,173 permits to drill approved and available to drill.. Devon Energy's board authorized a ONE BILLION dollar stock repurchase plan last November, there is NO shortage of cash... I'm fine with banning importing of Russian oil, it was only 3 percent last year...

We get it... You work in the oil industry and want to use this crisis to open up drilling everywhere.... tough shit... The America PEOPLE own that land.

View attachment 67378278

So we get it. Tough shit on the US economy and keep funding Putin and his war.

 

[BlueTex]

So we get it. Tough shot on the US economy and keep funding Putin and his war.

We don't need to turn cutting off Russian oil into a drilling bonanza...

 

[BlueTex]

Are the supplies from Russia actually that necessary?

My understanding was that we have enough oil for our own needs, so what Musk may be talking about is replacing Russia's supplies to Europe and other areas?

But I may be wrong, I don't keep a close eye on the oil/gas/etc. supply.

They are not... Some of our posters here are in the oil industry and are looking for ANY reason to see the restrictions on drilling on public lands removed... Of course, they want us to PAY for stuff like this after they have cashed in and run along to next drilling opportunity...

A Forgotten Oil Well Births a 100-Foot Geyser in West Texas

The salty water spewing high on a Crane County ranch could be a sign of a “whack-a-mole” future in the Permian Basin.

www.texasmonthly.com

 

[Chainsawmassacre]

I'm fine with banning importing of Russian oil, it was only 3 percent last year..

“The United States imported more than 20.4 million barrels of crude and refined products a month on average in 2021 from Russia, about 8% of U.S. liquid fuel imports, according to the Energy Information Administration (EIA).”

U.S. weighs cutting Russian oil imports amid broad public support

The Biden administration is weighing cutting U.S. imports of Russian oil and ways to minimize the impact on global supplies and consumers, the White House said on Friday, as lawmakers fast-track a bill that would ban Russian energy imports entirely.

www.reuters.com

 

[BlueTex]

“The United States imported more than 20.4 million barrels of crude and refined products a month on average in 2021 from Russia, about 8% of U.S. liquid fuel imports, according to the Energy Information Administration (EIA).”

U.S. weighs cutting Russian oil imports amid broad public support

The Biden administration is weighing cutting U.S. imports of Russian oil and ways to minimize the impact on global supplies and consumers, the White House said on Friday, as lawmakers fast-track a bill that would ban Russian energy imports entirely.

www.reuters.com

I have no problem cutting off Russian oil imports... At the same time we should ban EXPORTING our oil... That would MORE than make up for the loss of Russian oil...

 

[Chainsawmassacre]

I have no problem cutting off Russian oil imports... At the same time we should ban EXPORTING our oil... That would MORE than make up for the loss of Russian oil...

That would cause even higher prices at the pump. Oil traders need to be able to sell high buy low to and from every available source and grades of oil also come into play.
California dropping special blends would help refineries lower cost

 

[BlueTex]

That would cause even higher prices at the pump. Oil traders need to be able to sell high buy low to and from every available source and grades of oil also come into play.
California dropping special blends would help refineries lower cost

Awww... So they need to be able to screw over the American people in order to stay in business?

 

[Chainsawmassacre]

Awww... So they need to be able to screw over the American people in order to stay in business?

Do you want to stop Putin or not? Looks like not.

 

[BlueTex]

Do you want to stop Putin or not? Looks like not.

How about we ban imports during the war and implement price controls like we did during WWII... If the greatest generation was able to suck it up perhaps the guzzler generation can make a small sacrifice...

 

[ttwtt78640]

I have no problem cutting off Russian oil imports... At the same time we should ban EXPORTING our oil... That would MORE than make up for the loss of Russian oil...

Why would it be a good idea to reduce (or eliminate) US oil and LNG exports?

 

[BlueTex]

Why would it be a good idea to reduce (or eliminate) US oil and LNG exports?

To make up for the Russian oil we import...

 

[ttwtt78640]

To make up for the Russian oil we import...

OK, but what about the Russian oil and natural gas that other nations import?

 

[trouble13]

Are the supplies from Russia actually that necessary?

My understanding was that we have enough oil for our own needs, so what Musk may be talking about is replacing Russia's supplies to Europe and other areas?

But I may be wrong, I don't keep a close eye on the oil/gas/etc. supply.

I saw a graphic on tv that said 20% of the global supply comes from Russia. I'm kinda curious what the world looks like without 1/5th of its supply.

 

[BlueTex]

I saw a graphic on tv that said 20% of the global supply comes from Russia. I'm kinda curious what the world looks like without 1/5th of its supply.

Makes the Biden administration's caution on Russian oil and gas exports start to look pretty smart...

 

[ttwtt78640]

I saw a graphic on tv that said 20% of the global supply comes from Russia. I'm kinda curious what the world looks like without 1/5th of its supply.

More peaceful.

 

[j brown's body]

Does the American oligarch not know that oil companies are perfectly free to expand production on their own?

 

[Callen]

As of December 31st, 2021, there were 9,173 permits to drill approved and available to drill. Devon Energy's board authorized a ONE BILLION dollar stock repurchase plan last November, there is NO shortage of cash... I'm fine with banning importing of Russian oil, it was only 3 percent last year...

View attachment 67378278

If anyone wants to understand why the oil companies aren't expanding their drilling they only need to ask the oil companies. The oil companies have made a conscious business decision to focus on share value and shareholder return rather than expanded production. This is what Darren Woods of Exxon said on an earnings call.

"When asked about production targets for 2022 during a January earnings call, ExxonMobil CEO Darren Woods responded, "The primary objectives we've had in looking at the portfolio is less about volume and volume targets and more about the quality and profitability of the barrels that we're producing."

Here is a recent article with in interview of an executive from a Colorado oil producer.

Why Colorado drillers are unlikely to pump more oil amid Russia-Ukraine crisis • Colorado Newsline

As Republicans make "drill, baby, drill" demands, large oil companies in Colorado and beyond are holding back on new production.

coloradonewsline.com

 

[ttwtt78640]

Does the American oligarch not know that oil companies are perfectly free to expand production on their own?

So are “green” energy companies, yet few seem to argue for that.

 

[Chainsawmassacre]

Does the American oligarch not know that oil companies are perfectly free to expand production on their own?

They have their hands tied by Biden anti oil regulations which he needs to lift immediately along with a tax holiday for big oil so marginal wells would be profitable to restart.

 

[Slartibartfast]

The AGW cult needs to snap out if it for at least a little while. Even Musk see’s what needs to happen at this point in history.


“Hate to say it, but we need to increase oil & gas output immediately," Musk tweeted Friday. "Extraordinary times demand extraordinary measures."


“sustainable energy solutions simply cannot react instantaneously to make up for Russian oil & gas exports."

Elon Musk calls for increase in US oil, gas production to combat Russia despite negative effect on Tesla

Tesla co-founder and CEO Elon Musk called on the United States to increase its domestic oil output in response to Russia’s invasion of Ukraine while also acknowledging that his electric car company would be negatively affected by that move.

www.foxbusiness.com

Given that there are plenty of untapped leases, the only way he can accomplish this is to issue a DPA order.