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OIL is Nearing $80 a Barrel = Thanks Trump

There at too many things in play here to blame oil approaching $80 is all Trump's fault. There are still issues out of Canada, our own production efforts, and OPEC maneuvering going on to place this as all being about Iran sanctions.
 
same **** happened when that asshole G W Bush was waging all of his ****ty wars of aggression that flew in the face of the Nuremberg Tribunal

Trump will also hand off a smelly turd of an economy to the next guy, just as GW handed The Great Recession to the last POTUS ......

Why is it that when we have a Republican in The White House everything goes to Hell?
 
Fracking is expensive, it speed up the flow rate from wells, but the cost must be prorated
across the extracted oil. I have been saying for a while that while peak oil may be sort of a myth,
we may have passed the peak of peak easy oil. While there is plenty left, it is neither cheap,
or easy to extract.
People would not believe the enormous size of the oil formations under the Gulf of Mexico,
they likely contain more oil than the middle east, but it is under 900 fathoms of water.
 
Fiddytree said:
That's a good thing for domestic production, has next to nothing to do with what the President of the United States does.
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sure, it may be good for producers but I am a consumer & my wallet doesn't care for high priced gasoline .......

the average price per gallon has gone up ~$1.00 since Trump's inauguration.

how the **** is that 'winning' and who the Hell is Trump fooling? Not me .........
 
LowDown said:
You lefties wanted a recession to make Trump look bad. You might get your wish.

On the other hand, Trump can pull back on the trade stuff any time he likes.
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Low oil prices hurts our economy. That's the whole reason why Saudi Arabia decided to produce a surplus that's why gas prices dropped they wanted to hurt our economy

Higher gas prices are a good thing.
 
cuban smokes said:
same **** happened when that asshole G W Bush was waging all of his ****ty wars of aggression that flew in the face of the Nuremberg Tribunal

Trump will also hand off a smelly turd of an economy to the next guy, just as GW handed The Great Recession to the last POTUS ......

Why is it that when we have a Republican in The White House everything goes to Hell?
Click to expand...

Because they're reckless by nature.
 
CLAX1911 said:
Low oil prices hurts our economy. That's the whole reason why Saudi Arabia decided to produce a surplus that's why gas prices dropped they wanted to hurt our economy

Higher gas prices are a good thing.
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that is utter BS ...........
 
cuban smokes said:
sure, it may be good for producers but I am a consumer & my wallet doesn't care for high priced gasoline .......
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don't buy it then you don't have to you can ride the bus you can ride a bicycle you can drive an electric car you can walk there's a bunch of alternatives.

You act as though you have a right to gasoline.

the average price per gallon has gone up ~$1.00 since Trump's inauguration.
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and because of that the gasoline production industry will have to hire more people and pay them more for their work.

If you don't like petroleum use some other fuel.

how the **** is that 'winning' and who the Hell is Trump fooling? Not me .........
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it means there is more production in the US which means better economy for the u.s.

To think Donald Trump has anything to do with this is asinine. He is not a god.
 
cuban smokes said:
that is utter BS ...........
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Well it means a lot of people in my industry will get jobs. Do you know that in my industry it's the only industry where you can drop out of high school at the age of 16 spend some years getting some experience and eventually get a job that pays over $150,000 a year?

Why would you want to crush that? Oh I know why you're self-centered. But that's great because higher production and higher employment leads to better economy which helps you out. It leads to more tax revenue more money for handouts.

You really should learn a little bit about the economy.
 
OrphanSlug said:
There at too many things in play here to blame oil approaching $80 is all Trump's fault. There are still issues out of Canada, our own production efforts, and OPEC maneuvering going on to place this as all being about Iran sanctions.
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OPEC's recent meeting was "wild", to say it mildly. Saudi Arabia promised to crank up oil production. Some analyst's comment on that meeting:


"... Saudi Arabia is a winner, they pushed for higher volumes. Russia is a winner, they pushed for higher volumes. But I would argue the biggest winner was the country that was not represented, but cast a shadow over the whole proceedings. That was the United States.

President Trump intervened in the OPEC decision-making in April with his first Tweet criticizing the organization, posted while they were meeting in Jeddah. He kept up the pressure and there were reports that America wanted a million barrels, and they got the number they wanted. Thus, I would argue the biggest winner from the whole OPEC week was the Trump Administration.

... Earlier this week, Trump Administration officials confirmed that they basically want to take all Iranian exports off the market. This raises the prospect of an even higher Q4 2018 loss than 700,000. With Saudi pledging a million, there will be little spare capacity to deal with any additional outages.

... But what has happened this year? Shale has stumbled. Infrastructure bottlenecks mean it is going to become harder to move Permian barrels. The pipelines are full, companies are having issues with getting sufficient labor, and there is a shortage of truck drivers. In short, there are a whole set of issues that essentially mean Permian exports are capped for the moment. As shale is stumbling with infrastructure bottlenecks, this puts the White House back in a position where it is forced to ask Saudi Arabia and other Gulf allies for help. And that is why the United States is back in this position of dependence.

... Next year will be interesting because it is the year that the new pipelines are projected to come online and the bottlenecks should ease, but we could be in a period right now where the market is tighter, because we don’t have the additional shale supplies.

Understanding OPEC?s Agreement to Raise Production: A Conversation with Helima Croft
 
cuban smokes said:
sure, it may be good for producers but I am a consumer & my wallet doesn't care for high priced gasoline .......

the average price per gallon has gone up ~$1.00 since Trump's inauguration.

how the **** is that 'winning' and who the Hell is Trump fooling? Not me .........
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Yeah, but you got a hell of a salary increase as a result of Trump's Tax Cut, right? And your insurance and prescription pharmaceutical costs have decreased, right? Trump has cut waaaay back on federal staffing and spending, don't you agree? Trump has whacked business and banking regulations and you're seeing a big difference in your wallet from all the money the federal government is saving aren't you. Trump's tariffs are about to make a yooooge difference in America's trade deficit and some of the bazillions recouped will positively affect your bank account, no?
 
CLAX1911 said:
Well it means a lot of people in my industry will get jobs. Do you know that in my industry it's the only industry where you can drop out of high school at the age of 16 spend some years getting some experience and eventually get a job that pays over $150,000 a year?

Why would you want to crush that? Oh I know why you're self-centered. But that's great because higher production and higher employment leads to better economy which helps you out. It leads to more tax revenue more money for handouts.

You really should learn a little bit about the economy.
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I was born & raised in Caddo Parish, Louisiana. At one point in time there were more oil millionaires in Caddo Parish than in any other location on planet Earth.
The world's FIRST 'off shore' well was punched into Caddo Lake in May, 1911, by Gulf Refining Company of Louisiana.
Some of my first post high school graduation employment scenarios were working in the Ark-La-Tex 'oil patch.'
I went all over northwest Louisiana, northeast Texas, southeast Oklahoma, and southwest Arkansas servicing well completions; casing heads & hangers, tubing heads & hangers, tree assemblies, frac valves, etc.

I likely know more about what you speak of & the associated economics than you could imagine.

Talk is cheap Mr. Clax .......................
 
cuban smokes said:
that is utter BS ...........
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How do you think this works, Cuban?

For consumers, higher oil prices may be a bad thing at the pump, but if your state economy depends on it, if you work in the industry or someone you know works in the industry, higher oil prices are a good thing.

When Saudi oil production sped up again, it was done so to hurt American domestic production. When they did, drilling in the U.S. slowed and people were laid off in droves. States lost oil revenues and then when workers were laid off, they lost a lot of sales tax revenues, plunging states into financial straits. When state governments lost revenue, they cut budgets, especially those programs that you as a liberal would care most about.

Sent from my LG-H910 using Tapatalk
 
Fiddytree said:
How do you think this works, Cuban?

For consumers, higher oil prices may be a bad thing at the pump, but if your state economy depends on it, if you work in the industry or someone you know works in the industry, higher oil prices are a good thing.

When Saudi oil production sped up again, it was done so to hurt American domestic production. When they did, drilling in the U.S. slowed and people were laid off in droves. States lost oil revenues and then when workers were laid off, they lost a lot of sales tax revenues, plunging states into financial straits. When state governments lost revenue, they cut budgets, especially those programs that you as a liberal would care most about.

Sent from my LG-H910 using Tapatalk
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re: post #19 = I understand all of that = been there/done that

liberal? LOL ....................... right ..........
 
cuban smokes said:
re: post #19 = I understand all of that = been there/done that

liberal? LOL ....................... right ..........
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On the last part, it was an assumption that I couldn't see well on a mobile device. I noticed you and I agree on a lot of social programs, and typically that gives me the impression I am talking to a liberal rather than a conservative.

No harm, no foul.

Sent from my LG-H910 using Tapatalk
 
cuban smokes said:
I was born & raised in Caddo Parish, Louisiana. At one point in time there were more oil millionaires in Caddo Parish than in any other location on planet Earth.
The world's FIRST 'off shore' well was punched into Caddo Lake in May, 1911, by Gulf Refining Company of Louisiana.
Some of my first post high school graduation employment scenarios were working in the Ark-La-Tex 'oil patch.'
I went all over northwest Louisiana, northeast Texas, southeast Oklahoma, and southwest Arkansas servicing well completions; casing heads & hangers, tubing heads & hangers, tree assemblies, frac valves, etc.

I likely know more about what you speak of & the associated economics than you could imagine.

Talk is cheap Mr. Clax .......................
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Clearly you don't. Talk is indeed cheap. This simple law of supply and demand is at play here I don't care how many casing heads you were witness to installing if you don't know that basic concept of economy you don't know what you're talking about.

The petrochemical industry employees a huge amount of people.
 
cuban smokes said:
re: post #19 = I understand all of that = been there/done that

liberal? LOL ....................... right ..........
Click to expand...

You do not understand the very fundamental principle of economics.

When demand is high and Supply is low the price is high it doesn't matter what product were talking about what service who's in charge of whatever government all that matters is supply and demand
 
CLAX1911 said:
Clearly you don't. Talk is indeed cheap. This simple law of supply and demand is at play here I don't care how many casing heads you were witness to installing if you don't know that basic concept of economy you don't know what you're talking about.

The petrochemical industry employees a huge amount of people.
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duh, no **** ?

yes, I also understand the concept of supply & demand

I also understand that when the price of fossil fuels rise, that will conversely have a negative impact on economic activity.
What happened when the cost of fuel went to da moon during GW Bush's time as POTUS?
Shipping costs went to da moon, carriers were getting hit with massive fuel bills, they lost a LOT of money, people got laid off, and all of the other associated train wreck ...........
 
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