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U.S. Oil Hub Emptying to Levels Last Seen When Crude Cost $100

Chainsawmassacre

Chainsawmassacre

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What else is there to say but good work Joe. Or should I say Jimmy ? Guess I’ll dig the old sweater out and get ready to line up for gas again.


“It’s a stunning reversal from last year when the pandemic prompted a glut of oil so big that traders resorted to storing it in tankers at sea. The drawdown, driven by a rapid demand recovery, has been exacerbated by an energy crisis that has sent European and Asian buyers on the hunt for cheaper barrels. Over the coming weeks, stockpiles are likely to fall further to the operational low, traders at some of the biggest oil merchants in the world said, prompting the market to turn even more bullish.”


finance.yahoo.com

U.S. Oil Hub Emptying to Levels Last Seen When Crude Cost $100

(Bloomberg) -- Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel.Most Read from BloombergThe Top Money Maker at Deutsche Bank Reaps Billions From SingaporeWhy Americans and Britons Are Rushing...
finance.yahoo.com
 
Fletch said:
The left wants high oil prices. They love this. I wish they would just be honest for once and admit it.
Click to expand...
Hey Fletch. They'ev been pretty honest about it for some time now.
​
In September 2008, Steven Chu said to The Wall Street Journal: "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe" — and Barack Obama picked him to be secretary of the Department of Energy.​
​
When President Obama was inaugurated, gas was selling for $1.90 a gallon, and it is now nearly $4. Not quite European levels, but doubling gas prices is a good start.​
www.baltimoresun.com

Obama's choice: Higher gas prices, weaker economy

President Obama managed to double gas prices during his first term; will a second term bring us $8 a gallon?
www.baltimoresun.com www.baltimoresun.com
The thing of it is that in Europe there's a viable multi-technology public transport alternative choice available. Much less so here in the US.
 
From the article:

"Demand for Cushing oil surged because it was the cheapest in the world and stockpiles declined very quickly, according to a senior trader at one of the biggest U.S. crude exporters. Demand for U.S. barrels is higher than ever, the person added, noting that South Korea will have bought the most U.S. crude in their history in November.

Asian buyers, including India and Taiwan, are still in the market to purchase U.S. crude cargoes loading in early November, according to traders, highlighting the rush to secure supplies."

What does Joe Biden have to do with this?

And more:

"The global energy crisis has made the light, sweet, crude from Cushing more attractive on the global market because it has less sulfur than some other types of oil that must be processed through units at refineries called hydrocrackers."

Global energy crisis??????? But, but this is Joe Biden's fault!!!!!!
 
Chainsawmassacre said:
What else is there to say but good work Joe. Or should I say Jimmy ? Guess I’ll dig the old sweater out and get ready to line up for gas again.


“It’s a stunning reversal from last year when the pandemic prompted a glut of oil so big that traders resorted to storing it in tankers at sea. The drawdown, driven by a rapid demand recovery, has been exacerbated by an energy crisis that has sent European and Asian buyers on the hunt for cheaper barrels. Over the coming weeks, stockpiles are likely to fall further to the operational low, traders at some of the biggest oil merchants in the world said, prompting the market to turn even more bullish.”


finance.yahoo.com

U.S. Oil Hub Emptying to Levels Last Seen When Crude Cost $100

(Bloomberg) -- Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel.Most Read from BloombergThe Top Money Maker at Deutsche Bank Reaps Billions From SingaporeWhy Americans and Britons Are Rushing...
finance.yahoo.com
Click to expand...
Wait. Now you want the govt to restrict private businesses from maximizing their profits? But the shareholders...
 
Chainsawmassacre said:
What else is there to say but good work Joe. Or should I say Jimmy ? Guess I’ll dig the old sweater out and get ready to line up for gas again.


“It’s a stunning reversal from last year when the pandemic prompted a glut of oil so big that traders resorted to storing it in tankers at sea. The drawdown, driven by a rapid demand recovery, has been exacerbated by an energy crisis that has sent European and Asian buyers on the hunt for cheaper barrels. Over the coming weeks, stockpiles are likely to fall further to the operational low, traders at some of the biggest oil merchants in the world said, prompting the market to turn even more bullish.”


finance.yahoo.com

U.S. Oil Hub Emptying to Levels Last Seen When Crude Cost $100

(Bloomberg) -- Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel.Most Read from BloombergThe Top Money Maker at Deutsche Bank Reaps Billions From SingaporeWhy Americans and Britons Are Rushing...
finance.yahoo.com
Click to expand...

Did you even read your link?
LMAO
 
eohrnberger said:
Hey Fletch. They'ev been pretty honest about it for some time now.
​
In September 2008, Steven Chu said to The Wall Street Journal: "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe" — and Barack Obama picked him to be secretary of the Department of Energy.​
​
When President Obama was inaugurated, gas was selling for $1.90 a gallon, and it is now nearly $4. Not quite European levels, but doubling gas prices is a good start.​
www.baltimoresun.com

Obama's choice: Higher gas prices, weaker economy

President Obama managed to double gas prices during his first term; will a second term bring us $8 a gallon?
www.baltimoresun.com www.baltimoresun.com
The thing of it is that in Europe there's a viable multi-technology public transport alternative choice available. Much less so here in the US.
Click to expand...

That’s because folks like you fight against it.

And you fight against renewable energy.

You love being on the oil teat. You just don’t like it when the prices go up.

Sunlight and wind are free. All you have to do is make the initial investment.

No terrorists. No arab princes. No OPEC,…. in short, none of the results of fossil fuel dependency that you defend.
 
Fletch said:
The left wants high oil prices. They love this. I wish they would just be honest for once and admit it.
Click to expand...
It's true. At last Thursday's Leftism Bar Night, Nancy and I were plotting how to double the price of oil because we thought it would be really cool. I said, "you know if we did this, this guy named @Fletch would get worked up about it on the Internet" and she said, "hell yeah, let's do it!" We came up with a plan to have AOC organize a clandestine task force divert all oil into crustal subduction zones, so that it is lost forever and the prices go up. Everyone thinks my boy Pete B is on paternity leave, but it's a cover--he's using his mad transportation skills to build a oil pipeline directly to the under-sea subduction rift. We're calling it the Keystone XXXL.
 
NuffSaid said:
From the article:

"Demand for Cushing oil surged because it was the cheapest in the world and stockpiles declined very quickly, according to a senior trader at one of the biggest U.S. crude exporters. Demand for U.S. barrels is higher than ever, the person added, noting that South Korea will have bought the most U.S. crude in their history in November.

Asian buyers, including India and Taiwan, are still in the market to purchase U.S. crude cargoes loading in early November, according to traders, highlighting the rush to secure supplies."

What does Joe Biden have to do with this?

And more:

"The global energy crisis has made the light, sweet, crude from Cushing more attractive on the global market because it has less sulfur than some other types of oil that must be processed through units at refineries called hydrocrackers."

Global energy crisis??????? But, but this is Joe Biden's fault!!!!!!
Click to expand...
America’s reserves are at record lows and yes you can thank Joe for that
 
TomFitz said:
That’s because folks like you fight against it.

And you fight against renewable energy.

You love being on the oil teat. You just don’t like it when the prices go up.

Sunlight and wind are free. All you have to do is make the initial investment.

No terrorists. No arab princes. No OPEC,…. in short, none of the results of fossil fuel dependency that you defend.
Click to expand...
Sun light and wind power are anything but free. That is possibly the dumbest thing anyone ever said in here.
 
What the US needs is more refineries to process the oil.
 
Chainsawmassacre said:
Sun light and wind power are anything but free. That is possibly the dumbest thing anyone ever said in here.
Click to expand...

How much does sunlight or wind cost once the windmills and solar panels have been erected??????

As I said, once the initial investment is made, they are virtually free.

Both are far easier and far cheaper to build than coal or gas fired power plants.

And both are much easier to finance.
 
TomFitz said:
How much does sunlight or wind cost once the windmills and solar panels have been erected??????

As I said, once the initial investment is made, they are virtually free.

Both are far easier and far cheaper to build than coal or gas fired power plants.

And both are much easier to finance.
Click to expand...
Actually you are wrong on every count. Wind, solar and the infrastructure involved along with the power lines and maintenance roads for them that generally have to cover many miles to get a large urban population are extremely expensive. Windmills in particular require constant and expensive maintenance. Both solar and windmills have a relatively short life expectancy.
 
Chainsawmassacre said:
America’s reserves are at record lows and yes you can thank Joe for that
Click to expand...

Lather, rinse, repeat.

Right wingers and flat earthers peddle the same rants every time gas prices spike.

Then the simultaneously attack every effort to get us off the oil tit.

It’s been like this for 30 years.
 
Fletch said:
The left wants high oil prices. They love this. I wish they would just be honest for once and admit it.
Click to expand...
This has nothing to do with this issue.

I do love how ignorant people like to be over this issue. Scream free market for decades and can't grasp the ****ing Concept when it actually happens
 
Chainsawmassacre said:
Actually you are wrong on every count. Wind, solar and the infrastructure involved along with the power lines and maintenance roads for them that generally have to cover many miles to get a large urban population are extremely expensive. Windmills in particular require constant and expensive maintenance. Both solar and windmills have a relatively short life expectancy.
Click to expand...

Nobody builds coal fired power plants or gas power plants near large populations either.

The maintenance required on a wind farm is a fraction of the maintenance required in a coal fired power plant, or even a gas plant.

Solar panels generally have a twenty year service life. The life expectancy of windmills is similar. Although, as both technologies are advancing rapidly, they’re usually obsolete long before then.

The explosion of battery technology and the rise of battery farms and distributed storage are reshaping how electricity is generated and used.

Large industrial scale central power plants are going to be a thing of the past in short order. Already it is child’s play to attract investors to renewables and batteries.
 
NuffSaid said:
From the article:

"Demand for Cushing oil surged because it was the cheapest in the world and stockpiles declined very quickly, according to a senior trader at one of the biggest U.S. crude exporters. Demand for U.S. barrels is higher than ever, the person added, noting that South Korea will have bought the most U.S. crude in their history in November.

Asian buyers, including India and Taiwan, are still in the market to purchase U.S. crude cargoes loading in early November, according to traders, highlighting the rush to secure supplies."

What does Joe Biden have to do with this?

And more:

"The global energy crisis has made the light, sweet, crude from Cushing more attractive on the global market because it has less sulfur than some other types of oil that must be processed through units at refineries called hydrocrackers."

Global energy crisis??????? But, but this is Joe Biden's fault!!!!!!
Click to expand...
What does Biden have to do with this? Well maybe banning fracking might have something to do with it

Lol Joe Biden literally campaigned on shrinking oil supplies and now leftists are like “what does Biden have to do with it”
 
EMNofSeattle said:
What does Biden have to do with this? Well maybe banning fracking might have something to do with it

Lol Joe Biden literally campaigned on shrinking oil supplies and now leftists are like “what does Biden have to do with it”
Click to expand...
None of his policies have affected the market..

You don't know what you are talking about..
None of you do..its the same song and dance with you guys everytime.

Either learn something or don't bother
 
Chainsawmassacre said:
America’s reserves are at record lows and yes you can thank Joe for that
Click to expand...
Lets see TRUMP was the one that got pressured from our oil industry and forced Russia and the Saudi's to stop their price war last year and cut production lowering supply and raising prices . and YOU didn't say a word about that and when Biden went back and asked them to increase production all you people on the right bitched about that just what will make you people happy
Yep doesn't matter who actually did what it IS ALL BIDEN;S FAULT
Have a nice day
 
Damn those oil companies for selling their product on an open global market to the highest bidder.

If you are saying we need to inject some Socialism into this equation, I think you may be onto something. Maybe just nationalize the oil companies. Its a necessity.
Sign me up!
 
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