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Is there an oil shortage?

So, put the jet ski, dirt bike, snow mobiles, RVs, etc companies and associated repair shops and industries out of business?

The landscaping companies out of business?

Seems like a solid economic strategy.
No - reduce the oil company's profits, and reduce our grotesque dependency on them. Big difference. How do you not get that?
What a feeble and bogus retort. Did you think we should all run out and buy Kawasakis just to keep their industry in business? Are you really unable to imagine other things to spend your money on that don't involve burning more fossil fuels every time you use them?
 
No - reduce the oil company's profits, and reduce our grotesque dependency on them. Big difference. How do you not get that?
What a feeble and bogus retort. Did you think we should all run out and buy Kawasakis just to keep their industry in business? Are you really unable to imagine other things to spend your money on that don't involve burning more fossil fuels every time you use them?
No…you said “no recreational use of fossil fuels”

Stand by your words.

No recreational use of fossil fuels means destroying countless industries
 
If not, there is only one thing causing the price of oil to rise, speculation in the markets, period. If you disagree please state your reason/s why.
Correct. Biden can change that by reversing his oil/gas policies. Open the pipelines and the Federal lands. Investors would feel more confident in their investments. Oil companies will feel more confident in investing in exploration and development. Futures markets would stabilize and as oil is produced, supply meets demand and the price of oil will decrease.
 
No…you said “no recreational use of fossil fuels”

Stand by your words.
I always do.
No recreational use of fossil fuels means destroying countless industries
No it does not - unless you're ignorant enough to believe that 1) they depend entirely on us, (they don't) and 2) that we're somehow obliged to sustain them, (we are not!) and 3) that the impact of this will happen overnight, (it cannot and will not!) and 4) their industries cannot adapt to changing consumer demands (they had better be able to, or they will simply go the way of every other obsolete industry in the "free market" world of supply and demand)

Are you that ignorant? Really? When you went from VHS cassettes to DVDs, were you worried about "destroying countless industries"?? When you went from listening to cassettes on your Walkman, to digital Bluetooth tunes from Alexa, did you worry about "destroying countless industries"??

Is the ink dry yet on your fax?
Are the heads clean on your Betamax?
Can you still get cards for your Rolodex?
Are you live, . . . . or are you Memorex?

(LOL - I slay me!)

Time for you to recalculate all of that on your slide rule. Burning fossil fuels for recreation is unsustainable. It has to stop.
 
Correct. Biden can change that by reversing his oil/gas policies. Open the pipelines and the Federal lands.
No - don't.
Investors would feel more confident in their investments. Oil companies will feel more confident in investing in exploration and development.
That's the last thing we need investment in. Every single penny slated for oil exploration and development should be redirected toward the development, creation and production of sustainable alternatives. If we had been doing that for the past 30+ years, we would have already weaned ourselves off of our oil addiction.
Futures markets would stabilize and as oil is produced, supply meets demand and the price of oil will decrease.
The price of oil should continue to rise until it begins to approach what it actually costs us - including the costs of cleanup, and the costs of healthcare for those it poisons, and it should have no government subsidies for the industry. Zero.
 
No - don't.

That's the last thing we need investment in. Every single penny slated for oil exploration and development should be redirected toward the development, creation and production of sustainable alternatives. If we had been doing that for the past 30+ years, we would have already weaned ourselves off of our oil addiction.

The price of oil should continue to rise until it begins to approach what it actually costs us - including the costs of cleanup, and the costs of healthcare for those it poisons, and it should have no government subsidies for the industry. Zero.
Next time you are in your apartment, do a 360 and tell me what isn't manufactured with some form of energy.
If you live in NYC, you probably don't own a vehicle, that would be stupid.
What energy was produced to manufacture your bike.

About one-third of the energy used in the United States went to industry. That’s understandable in view of the wide range of activity in this economic sector. Every product on which we rely—from gasoline and automobiles to food, buildings, machinery, and appliances—takes energy to produce. The use of energy in industry affects every single citizen directly through the cost of goods and services, the quality of manufactured products, the strength of the economy, and the availability of jobs.
The industrial sector uses energy in many ways. One major application involves raising the temperature of components in the manufacturing process, which is called process heating. Refining crude oil, where heat is used to separate various distillates, is an example of this. Another common use of energy in industry is to heat a boiler that generates steam or hot water.

A few industries use a very large share of energy in the industrial sector. Petroleum refining is the principal consumer, with the chemical industry a close second. Those users, plus the paper and metal industries, account for 78% of total industrial energy use.

Industry and manufacturing rely heavily on natural gas (30% of all energy consumed by the industrial sector in 2015), petroleum and other liquids (26%), and electricity (10%), with coal, renewables, and biofuels making up the rest.

Make a statement and stop wearing clothing.

Forget about the bike, you need to walk

Your computer is made up of a fantastic array of different materials, including steel, glass, silica sand, iron ore, gold, bauxite and a lot of others. All of those raw materials have to come from somewhere, such as mines.
Why do you have a computer? Don't you know they mine materials to make your computer.
 
Next time you are in your apartment, do a 360 and tell me what isn't manufactured with some form of energy.
If you live in NYC, you probably don't own a vehicle, that would be stupid.
What energy was produced to manufacture your bike.

About one-third of the energy used in the United States went to industry. That’s understandable in view of the wide range of activity in this economic sector. Every product on which we rely—from gasoline and automobiles to food, buildings, machinery, and appliances—takes energy to produce. The use of energy in industry affects every single citizen directly through the cost of goods and services, the quality of manufactured products, the strength of the economy, and the availability of jobs.
The industrial sector uses energy in many ways. One major application involves raising the temperature of components in the manufacturing process, which is called process heating. Refining crude oil, where heat is used to separate various distillates, is an example of this. Another common use of energy in industry is to heat a boiler that generates steam or hot water.

A few industries use a very large share of energy in the industrial sector. Petroleum refining is the principal consumer, with the chemical industry a close second. Those users, plus the paper and metal industries, account for 78% of total industrial energy use.

Industry and manufacturing rely heavily on natural gas (30% of all energy consumed by the industrial sector in 2015), petroleum and other liquids (26%), and electricity (10%), with coal, renewables, and biofuels making up the rest.

Make a statement and stop wearing clothing.
How stupid can you get?
Forget about the bike, you need to walk
The fool persists in their folly.
Your computer is made up of a fantastic array of different materials, including steel, glass, silica sand, iron ore, gold, bauxite and a lot of others. All of those raw materials have to come from somewhere, such as mines.
Why do you have a computer? Don't you know they mine materials to make your computer.
What an embarrassingly feeble argument. In a nutshell, it amounts to "Everything we have all required energy in manufacture and transportation - therefore who gives a shit about how much more energy we waste?" If this is the best you can do, then you are hopeless.
 
If not, there is only one thing causing the price of oil to rise, speculation in the markets, period. If you disagree please state your reason/s why.
Price equilibrates supply and demand. So, no there is no “shortage”. There is higher price due to demand exceeding supply at the old price.

With respect to oil, supply can’t exceed demand for long. Storage is limited. Once storage fills up there’s no way to keep supply higher than demand.

We had negative oil prices when that started to happen during Covid for a bit. “Speculation”, at least on paper, neither increases/decreases supply nor increases/decreases demand.
 
Not at all, you are complaining about not being able to control other nations and you refuse to acknowledge oil is internationally price determined.
Internationally determined by whom? Which nations am I complaining about?
 
Correct. Biden can change that by reversing his oil/gas policies. Open the pipelines and the Federal lands. Investors would feel more confident in their investments. Oil companies will feel more confident in investing in exploration and development. Futures markets would stabilize and as oil is produced, supply meets demand and the price of oil will decrease.
Maybe you didn't hear the president the other day telling us the oil companies have thousands of leases on lands they are not using so why are you blaming the prez for them not using them?
 
Speculation is how oil is priced.
Indeed it is. As I stated earlier, countries who produce oil like saudi arabia set a price they would like to get per barrel and speculators in the oil markets change that price daily.
 
Likely speculation about future shortage which might or might not turn out accurate is part of the story.

Either way, it's not evil and not even hurtful, speculation serves a useful purpose.
Keep that in mind when paying six bucks or so for a gallon of gas, and no complaining.
 
An increase in gas prices at the pump can occur due to either a real shortage or a perception of a shortage by the public at large. The perception of a shortage can even cause a real shortage. Witness the shortage of toilet tissue in US stores at the beginning of the Covid-19 viral pandemic.

The functioning of 'The market', for all of the extolling of its virtues in some quarters, does not always provide the best resolution of societal factors.

Regards, stay safe 'n well 'n remember the Big 5.
 
Keep that in mind when paying six bucks or so for a gallon of gas, and no complaining.
I will. This is just math. Without speculation prices would be higher on average.
 
Internationally determined by whom? Which nations am I complaining about?

Why don't you come down from the cheap seats and make a real argument.

Prove, or at least argue, that there is no shortage and this is all the fault of speculation. No bumper sticker one liner rhetoric you picked up off left leaning talk shows or some ill formed social media post, an actual argument.
 
An increase in gas prices at the pump can occur due to either a real shortage or a perception of a shortage by the public at large. The perception of a shortage can even cause a real shortage. Witness the shortage of toilet tissue in US stores at the beginning of the Covid-19 viral pandemic.

The functioning of 'The market', for all of the extolling of its virtues in some quarters, does not always provide the best resolution of societal factors.

Regards, stay safe 'n well 'n remember the Big 5.
And what besides the market wwhatever? been better at preventing the shortage of toilet paper you mentioned or whstever?
 
The Biden, and more so his administration, have established a track record of attacking the petroleum industry, even during his campaign.


Alaska production at historic lows:

1646834851347.png

Likely capacity there to make up the Russia volume as well as probably some more.
  • The comments also come after the Biden administration last week began delaying decisions on new oil and gas leases after a federal judge blocked the administration from using higher climate change cost estimates when regulating polluting industries.
  • The ruling stems from President Biden's decision on his first day in office to restore the climate cost estimate to $51 per ton of carbon dioxide emissions, up from the $7 it was slashed to during the Trump administration.
Alaska ready to increase oil, gas production if Biden admin allows: Gov. Dunleavy
Dunleavy argues the US should be pushing for increased production of oil, natural gas amid tension overseas​

It is Biden's policies of hostility to this industry which has placed the nation in this energy crisis. As if it were planned. It certainly was foreshadowed during his campaign.

Thanks Biden voters. This was predicted before the election.

This US energy crisis is one which was created by the Green Energy policies of this administration, and the impact of the Green Energy policies.
Biden owns it. Biden's administration owns it. The Democrats own it.

All this flailing about by the left is to try and avoid, squelch, silence those facts, a typical tactic of the left, silence the facts that which they don't like, and push the political narrative they do like.
 
Why don't you come down from the cheap seats and make a real argument.

Prove, or at least argue, that there is no shortage and this is all the fault of speculation. No bumper sticker one liner rhetoric you picked up off left leaning talk shows or some ill formed social media post, an actual argument.
I am only responding to statements you've made and now you are saying I'm not offering a real argument when I have repeatedly, speculation in the markets. It is not my fault you refuse to accept that answer and call it bullshit but not providing any facts to refute my response. Something about other people and countries and world wide something or other but no actual facts as to how they are right now influencing the price of a barrel of oil.

 
I am only responding to statements you've made and now you are saying I'm not offering a real argument when I have repeatedly, speculation in the markets. It is not my fault you refuse to accept that answer and call it bullshit but not providing any facts to refute my response. Something about other people and countries and world wide something or other but no actual facts as to how they are right now influencing the price of a barrel of oil.


Which puts you squarely in the cheap seats, and your article says nothing about blaming all this on speculation.
 
Maybe you didn't hear the president the other day telling us the oil companies have thousands of leases on lands they are not using so why are you blaming the prez for them not using them?
You missed another post of mine which explained your question.
Here is a CNN link that in my opinion does a good job telling both sides of the issue.

https://money.cnn.com/2011/06/06/news/economy/oil_drilling_leases/index.htm

The Biden administration is placing road blocks making it difficult for these oil producers.


You got the Treasury Secretary pushing banks away from fossil fuel projects. How do they get funding?
The road blocks and regulations this administration has placed on oil producers scares investors away.
 
How stupid can you get?

The fool persists in their folly.

What an embarrassingly feeble argument. In a nutshell, it amounts to "Everything we have all required energy in manufacture and transportation - therefore who gives a shit about how much more energy we waste?" If this is the best you can do, then you are hopeless.
Not as stupid to believe we can eliminate fossil fuels.
 
Who said they can be "eliminated"?
Correct. Biden can change that by reversing his oil/gas policies. Open the pipelines and the Federal lands.
No - don't.
Investors would feel more confident in their investments. Oil companies will feel more confident in investing in exploration and development.
That's the last thing we need investment in. Every single penny slated for oil exploration and development should be redirected toward the development, creation and production of sustainable alternatives. If we had been doing that for the past 30+ years, we would have already weaned ourselves off of our oil addiction.
Futures markets would stabilize and as oil is produced, supply meets demand and the price of oil will decrease.
The price of oil should continue to rise until it begins to approach what it actually costs us - including the costs of cleanup, and the costs of healthcare for those it poisons, and it should have no government subsidies for the industry. Zero.


The stupidity of progressives. I never said eliminate. However I did say "That's the last thing we need investment in". Which is totally different than eliminate.
But if we don't invest, it will be eliminated, dah.
 
A lofty goal, but it sounds like political hyperbole to me - pandering to the environmental wing. I don't know that there will ever come a day when no petroleum products are in use - even if for no other reason than lubrication for alternative energy generation.

I don't see safflower oil replacing graphite and 90 weight any time soon. I can't imagine greasing windmills with used popcorn oil - although it's a fun thought.

:)
 
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