Today-10/28/21 at 6:30 PM-EST a barrel of crude oil cost $82.91

[PoliSciPulse]

so what Biden did , did not stop oil companies from drilling new wells or fracking on the federal land they already had under lease

However, the question is whether he will renew those leases that come up for renewal in the next 3 years. I haven't heard mention about whether he will or not. However, you seem to be more in the know on the small details than me. Do you know what he said about this?

 

[Tbird19482]

However, the question is whether he will renew those leases that come up for renewal in the next 3 years. I haven't heard mention about whether he will or not. However, you seem to be more in the know on the small details than me. Do you know what he said about this?

Not sure what will be done
I am not sure when all these leases are up
I will see what I can find out and get back
Have a nice night

 

[PoliSciPulse]

Not sure what will be done
I am not sure when all these leases are up
I will see what I can find out and get back
Have a nice night

Thank you!

 

[Tbird19482]

However, the question is whether he will renew those leases that come up for renewal in the next 3 years. I haven't heard mention about whether he will or not. However, you seem to be more in the know on the small details than me. Do you know what he said about this?

well just doing about 4 min. reading there are a lot of things that extend the lease
one leases are usually for 10 years and at the end of that time if they are producing and making money the lease is usually
extended and under certain circumstances it can be automatically extended
here is some of the reading I found

Will My Federal Lease Be Extended?

Like virtually all modern oil and gas leases, federal leases have a fixed primary term (typically 10 years)[1] and a habendum (i.e., “so long thereafter”) clause. But understanding the provisions of the Mineral Lands Leasing Act of 1920 (“MLA”) and BLM... #blm #extentionssuspensions #federalleases

www.theoilandgasreport.com

https://www.americanprogress.org/article/oil-gas-companies-lying-much-oil-control-u-s-public-lands/
WOW a lot of interesting reading
I may be busy for awhile
Have a nice night

 

[Tbird19482]

Thank you!

as I said there is some real interesting reading
here is some real fast info on Federal land leasing go here

Oil and Gas Companies Are Lying About How Much Oil They Control on U.S. Public Lands

The oil industry already has at least 10 years’ worth of unused leases at its disposal, even with the leasing pause.

www.americanprogress.org

go to the section " Oil and gas companies do not need new leases on public lands
read it Paragraph # 4 and 5 are really interesting
Enjoy reading
and have a nice night

 

[Tbird19482]

Thank you!

Came across this today I think it explains why some people think Biden shut down more then just one pipeline and one was real close to being finished
the Keystone pipeline is the ONLY one he shut down
where the problem is it was also named ( called ) phase 4 by the company that is building it ( after reading this you can see it is in the Phase 4 part of the TOTAL Keystone project NOT in it's 4th phase of construction )
and the hase 4 " AKA Keystone XL pipeline is only 8 to 10% completed
so I suspect that the Company calling this pipeline phase 4 people assumed it was in it's phase 4 ( finale phase ) of construction and almost complete
when like it says it was only 8 to 10% completed

https://www.reuters.com/article/factcheck-keystonepipelinexl-builtandpai-idUSL1N2LA2S

Have a nice day

 

[Eriech]

Oil was much higher when Biden was VP IMO most of the price increases currently at the pump are related to all the other inflationary pressures related to the lack of people willing and able to work. Gas needs trucks and drivers to get to the pump.
I recall oil pushing $150 at one point. Joe has a mark to shoot for. Those who control Joe want $10 plus gas to protect the planet. Never let a crisis go to waste.

 

[Empirica]

The cost of unleaded has dropped 10 cents/gallon in one week here in the Seattle area.

The Democrat Party somehow manages to claw out a political niche on the backs of loyal die-hards like yourself

You hang in there, Lurch.

Are you going to give Joe credit for that?

Sure, if Joe deserved it and was still capable of processing information.

And I base that totally on his obvious need for a teleprompter to speak.

 

[lurchadams]

The Democrat Party somehow manages to claw out a political niche on the backs of loyal die-hards like yourself

You hang in there, Lurch.

Sure, if Joe deserved it and was still capable of processing information.

And I base that totally on his obvious need for a teleprompter to speak.

LOL - you sat by for 5 years and watched that slobbering, hateful, mango-colored racist spew ridiculous shit and NOW you're concerned about the president's mental health.

I'm sorry, you guys just crack me up

 

[Tbird19482]

LOL - you sat by for 5 years and watched that slobbering, hateful, mango-colored racist spew ridiculous shit and NOW you're concerned about the president's mental health.

I'm sorry, you guys just crack me up

yes some people on here should take a step back and take a good look at just what the Republican party has become and what Trump has done to it and this country
Have a nice day

 

[lurchadams]

yes some people on here should take a step back and take a good look at just what the Republican party has become and what Trump has done to it and this country
Have a nice day

Yeah, we've been watching it! You have a nice day, too!

 

[longview]

I think a lot of people do not grasp how the price of the raw material, affects the price of finished fuel products.
A 42 gallon barrel of oil, can produce roughly 35 gallons of finished fuel product.
Oil at $44 a barrel, produces fuel with a raw material cost of $44/35 =$1.257 per gallon,
while oil at $80 a barrel produces fuel with a raw material cost of $80/35=$2.28 per gallon.
EIA PETROLEUM & OTHER LIQUIDS
The price of gasoline in Oct 2020 was $2.158 per gallon, and in Oct 2021 was $3.395, a difference of $1.23 per gallon.
The price increase from the increased price of oil was $1.03 per gallon.
The vast majority of the recent price increase in gasoline, is from the increase in the price of oil,
which Biden or whoever is President has little control over.

 

[Mithros]

Help me out here...The chart below reflects the price of crude oil over a one year period.
In Sept 2021 crude oil was $81.00 a barrel and in Sept 2020 it was only $44.00 a barrel.
Anyone want to tell me who or what caused this major one year conflict in crude oil prices?

According to government sources; the price of crude oil is likely to continue increasing.
Crude oil prices generally peak between Sept and Oct. and hold steady till after new year.
But not this year because as we all know, product cost is determined by "Supply & Demand".
And the global oil inventories will be falling faster than expected due to lower global oil supply!

U.S. Energy Information Administration
"We expect Brent prices will remain near current levels for the remainder of 2021, averaging $81/b during the fourth quarter of 2021, which is $10/b higher than our previous forecast. The higher forecast reflects our expectation that global oil inventories will fall at a faster rate than we had previously expected owing largely to lower global oil supply in late 2021 across a range of producers."

What were the prices in 2018 and 2019, before COVID? Funny how the world wasn't falling in October of 2018, in fact I remember that as the "greatest economy ever".

https://www.eia.gov/todayinenergy/images/2020.01.07/main.svg

 

[bomberfox]

Pfft i dont need gas for my ride

 

[Lycanthrope]

They can't even adapt to gas going up by a few dimes.

They adapted just fine when their preferred POTUS was in charge - shifted the blame from him to libs/Congress/libs

 

[longview]

They adapted just fine when their preferred POTUS was in charge - shifted the blame from him to libs/Congress/libs

I do not think inflation discriminants based on which party you vote for.
A person who used to spend $50 a week on gas to get work when gas was at $2.15 a gallon,
would now have to spend $78 a week, an extra $121 dollars a month.
If things were already tight, they just got a whole lot tighter.

 

[Lycanthrope]

I do not think inflation discriminants based on which party you vote for.

Seems pretty obvious, yes?

 

[SMTA]

Help me out here...The chart below reflects the price of crude oil over a one year period.
In Sept 2021 crude oil was $81.00 a barrel and in Sept 2020 it was only $44.00 a barrel.
Anyone want to tell me who or what caused this major one year conflict in crude oil prices?

According to government sources; the price of crude oil is likely to continue increasing.
Crude oil prices generally peak between Sept and Oct. and hold steady till after new year.
But not this year because as we all know, product cost is determined by "Supply & Demand".
And the global oil inventories will be falling faster than expected due to lower global oil supply!

U.S. Energy Information Administration
"We expect Brent prices will remain near current levels for the remainder of 2021, averaging $81/b during the fourth quarter of 2021, which is $10/b higher than our previous forecast. The higher forecast reflects our expectation that global oil inventories will fall at a faster rate than we had previously expected owing largely to lower global oil supply in late 2021 across a range of producers."

During the Covid shutdown, and the price war between Russia and OPEC that drastically dropped oil prices, some US oil producers went bankrupt due to low oil demand and low prices.
US producers also quickly shut down wells to reduce output, again due to plummeting demand.
US oil producers dropped output by 3 million barrels daily, due to the issues above.
Russian and OPEC oil producers then reduced output as a result of declining demand as the shutdown continued.
In summer 2020, as the pandemic lifted, US gasoline demand exploded dramatically.
US producers were unable to rapidly increase production to accommodate the suddenly increased demand.
Russia and OPEC showed little interest increasing their output to accommodate increased US demand, as they didn’t care.
The drastically increased US demand outstripped domestic and foreign oil supply

Simplistically, when oil demand outstrips supply, and the price increases.
This is why gasoline prices are high right now.

 

[SMTA]

The Democrat Party somehow manages to claw out a political niche on the backs of loyal die-hards like yourself

You hang in there, Lurch.

Sure, if Joe deserved it and was still capable of processing information.

And I base that totally on his obvious need for a teleprompter to speak.

Horse shit.
Trump was a blubbering moron without a teleprompter. Not much better with one.

 

[Tbird19482]

During the Covid shutdown, and the price war between Russia and OPEC that drastically dropped oil prices, some US oil producers went bankrupt due to low oil demand and low prices.
US producers also quickly shut down wells to reduce output, again due to plummeting demand.
US oil producers dropped output by 3 million barrels daily, due to the issues above.
Russian and OPEC oil producers then reduced output as a result of declining demand as the shutdown continued.
In summer 2020, as the pandemic lifted, US gasoline demand exploded dramatically.
US producers were unable to rapidly increase production to accommodate the suddenly increased demand.
Russia and OPEC showed little interest increasing their output to accommodate increased US demand, as they didn’t care.
The drastically increased US demand outstripped domestic and foreign oil supply

Simplistically, when oil demand outstrips supply, and the price increases.
This is why gasoline prices are high right now.

When the price of oil got so low because of the Saudi/ Russia price war our oil producers shut down a lot of wells and started to put a lot of political pressure on Trump to do something to get the Saudi's to cut production RAISE their prices and stop the price war
so Trump told them he was going to cut Military aid and supplies
so they cut production and raised prices
then when the supply dropped and demand went back up our wells were shut down and Biden went to them and asked them to increase production and they said NO, you people just told us to cut production and raise prices and now a couple of months later you want us to increase production .MAKE UP YOUR MINDS
and now we are where we are
Have a nice night

 

[SMTA]

When the price of oil got so low because of the Saudi/ Russia price war our oil producers shut down a lot of wells and started to put a lot of political pressure on Trump to do something to get the Saudi's to cut production RAISE their prices and stop the price war
so Trump told them he was going to cut Military aid and supplies
so they cut production and raised prices
then when the supply dropped and demand went back up our wells were shut down and Biden went to them and asked them to increase production and they said NO, you people just told us to cut production and raise prices and now a couple of months later you want us to increase production .MAKE UP YOUR MINDS
and now we are where we are
Have a nice night

Wow, a post of stupid rambling devoid of facts.
Fascinating.

 

[Tbird19482]

Wow, a post of stupid rambling devoid of facts.
Fascinating.

Can you tell me what is not a fact?
YOU might want to do some research into a subject and get some facts before running your mouth off
you can start here

Yahoo Search Results

search.yahoo.com

2020 Russia–Saudi Arabia oil price war - Wikipedia

en.wikipedia.org

Oil prices remained depressed for the rest of March. On 2 April, U.S. President Donald Trump, after significant internal pressure, called Saudi Arabian crown prince and de facto ruler Mohammed bin Salman, threatening to withdraw U.S. military support if OPEC and its allies did not cut oil production

and there is a lot more info for you in that search
Have a nice day

 

[SMTA]

Can you tell me what is not a fact?
YOU might want to do some research into a subject and get some facts before running your mouth off
you can start here

Yahoo Search Results

search.yahoo.com

2020 Russia–Saudi Arabia oil price war - Wikipedia

en.wikipedia.org

Oil prices remained depressed for the rest of March. On 2 April, U.S. President Donald Trump, after significant internal pressure, called Saudi Arabian crown prince and de facto ruler Mohammed bin Salman, threatening to withdraw U.S. military support if OPEC and its allies did not cut oil production

and there is a lot more info for you in that search
Have a nice day

**** Trump
Worthless as teats on a boar hog.

 

[mrjurrs]

Help me out here...The chart below reflects the price of crude oil over a one year period.
In Sept 2021 crude oil was $81.00 a barrel and in Sept 2020 it was only $44.00 a barrel.
Anyone want to tell me who or what caused this major one year conflict in crude oil prices?

According to government sources; the price of crude oil is likely to continue increasing.
Crude oil prices generally peak between Sept and Oct. and hold steady till after new year.
But not this year because as we all know, product cost is determined by "Supply & Demand".
And the global oil inventories will be falling faster than expected due to lower global oil supply!

U.S. Energy Information Administration
"We expect Brent prices will remain near current levels for the remainder of 2021, averaging $81/b during the fourth quarter of 2021, which is $10/b higher than our previous forecast. The higher forecast reflects our expectation that global oil inventories will fall at a faster rate than we had previously expected owing largely to lower global oil supply in late 2021 across a range of producers."

Supply and demand.

 

[Mircea]

Help me out here...The chart below reflects the price of crude oil over a one year period.
In Sept 2021 crude oil was $81.00 a barrel and in Sept 2020 it was only $44.00 a barrel.
Anyone want to tell me who or what caused this major one year conflict in crude oil prices?

You did.

Last year, people were locked down and going nowhere, thus there was no Demand for crude oil.

Because there was no Demand for crude oil, oil wells had to be shut down.

You cannot shut down an oil well with a mouse-click.

An oil service crew has to drive to the well -- because we don't have Star Trek transporters yet -- and spend 6-10 days working 8-12 hours a day to cap the well, blow out the feeder lines, shut the valves, and drain the coolants and hydraulic fluids from the machinery to prep for long-term storage, because the US EPA says so.

Now Demand has increased, but in 2020 more than 61 oil service companies filed for Chapter 11 bankruptcy protection -- because there was no Demand.

You cannot open a well with a mouse-click.

An oil service crew has to drive to the well -- because we don't have Star Trek transporters yet -- and spend 6-10 days working 8-12 hours a day to uncap the well, blow the air out of the feeder lines, open the valves, and re-fill the coolants and hydraulic fluids from the machinery to get it running again.

Did I mention more than 61 oil service companies file for bankruptcy?

Just like you have a shortage of oil, you have a shortage of oil service workers to uncap the wells.

Did I mention that 1,000s of the 950,000+ oil and natural gas wells in the US (not counting off-shore platforms) were shut down?