U.S. oil industry prepares to boost production — but with a giant warning

[bluesmoke]

This is great. The OP made another thread just like this to be proven a complete liar and then runs to this thread trying to outrun him making a total fool of himself.

We have been over this. US oil producers are not sitting on a material number of wells they could easily and quickly turn on. They can't suddenly ramp up drilling and production because of labor, material, equipment, and pipeline issues. Even if they could they would take 6-8 months before any of them get online. Moreover, they are more interested right now in repairing their balance sheets after 6-7 years of brutal financial pain.

Facts.

Try and get a few.

There is no way in hell, God's green earth or by heaven any increase in oil production, however soon and by however much possible, will lower the price at the pump than the global market price for crude oil will allow.

If a poster calls another poster a liar, they'd better have evidence of fact that irrefutably proves such, instead of then posting a "Prove it" reply to another post. That the oil industry is "...repairing their balance sheets after 6-7 years of brutal financial pain." is unsupported by any evidence of fact provided by you. You haven't proved it. That's part of your MO.

Prior posting on various threads have revealed that you don't provide the evidence of fact to back up your own word, making your word worthless.

You are not a credible debater.

 

[Simpletruther]

U.S. oil industry prepares to boost production — but with a giant warning

A jump in gasoline prices above $4 has oil companies eyeing crude oil output hikes, but pain at the pump will linger as shaky oil markets shun Russian cargoes.

www.politico.com

How many friggin people have I been arguing with on this very board about how the Oil Companies can up production whenever they want (just to be called a liar).

This argument was oh so easy to win. All I had to do was wait.

price goes up so they can sell more at a profit........film at 11

lol

 

[element94]

The plan is working perfectly.

 

[Simpletruther]

Wait. Are you admitting they can increase and decrease production if they want to?

Sure, they want to when it's profitable and not when they are loosing money

 

[bave]

There is no way in hell, God's green earth or by heaven any increase in oil production, however soon and by however much possible, will lower the price at the pump than the global market price for crude oil will allow.

If a poster calls another poster a liar, they'd better have evidence of fact that irrefutably proves such, instead of then posting a "Prove it" reply to another post. That the oil industry is "...repairing their balance sheets after 6-7 years of brutal financial pain." is unsupported by any evidence of fact provided by you. You haven't proved it. That's part of your MO.

Prior posting on various threads have revealed that you don't provide the evidence of fact to back up your own word, making your word worthless.

You are not a credible debater.

It is the OP's responsibility to show proof for their contention.

If nothing else, the best evidence in the world is the financial. Why on earth would US oil companies *NOT* be pumping as much oil as possible at 120-130/bbl? In what world would they just decide to not pump oil that was easily pumpable?

Failing that, you can look at *every* US oil producer's quarterly calls and public statements about oil production plans, capacity, and status. If they lie about those statements, they go to jail.

Stop clowning around, your entire argument is absurd. A for profit company is deciding to withhold their product from the market at the highest price in a decade. Makes sense...... jesus christ.

 

[justoneman]

U.S. oil industry prepares to boost production — but with a giant warning

A jump in gasoline prices above $4 has oil companies eyeing crude oil output hikes, but pain at the pump will linger as shaky oil markets shun Russian cargoes.

www.politico.com

How many friggin people have I been arguing with on this very board about how the Oil Companies can up production whenever they want (just to be called a liar).

This argument was oh so easy to win. All I had to do was wait.

Your thinking is simplistic. You think there is a big pot of oil that the companies turn on and off to affect pricing. It is way more complicated than that. The reality is that the price shot up practically over night, for a barrel of oil. Shale oil is harder and more expensive to extract. Below a certain price it is not profitable to extract. The price very dramatically, just shot up well over that price barrier. It takes time to ramp up production. It will happen slowly. This will not greatly reduce prices at the pump and certainly not quickly.

 

[Integrityrespec]

U.S. oil industry prepares to boost production — but with a giant warning

A jump in gasoline prices above $4 has oil companies eyeing crude oil output hikes, but pain at the pump will linger as shaky oil markets shun Russian cargoes.

www.politico.com

How many friggin people have I been arguing with on this very board about how the Oil Companies can up production whenever they want (just to be called a liar).

This argument was oh so easy to win. All I had to do was wait.

You sure have left out a lot of the particulars to the cost of production. Leases, permits, equipment, exploration, drilling, extraction, storage, shipping, refinement, more shipping. Just off the top of my head. XL pipeline if it had been allowed from the start would be moving that tar sand oil now. By 2030 it would be a major part of tripling that production.

 

[Liberal7360]

All this arguing about gas and oil is ridiculous.

Most don't see that we have become slaves to that oil and gas. So much that here in a capitalistic nation, countless people actually believes that our government owns that oil and can dictate the price and how much is on the market.

Guess what folks?

The president can ask but there is nothing the president can legally do to force any oil company to produce more oil. That decision is up to those who OWN the oil company.

No politician is going to be able to change the situation but we as Americans can.

Stop expecting the government to do everything for you.

What really blows my mind is that Americans don't realize they have the power to not pay those ridiculous prices for gas.

Or at least not pay as much.

I did that in 2001 when I decided to never buy a regular gas vehicle again. And I haven't bought a regular gas vehicle since then.

Anyone can go out today, right now, to buy a hybrid or electric vehicle. The technology is already here along with the vehicles.

I just shake my head at the same people who scream they hate socialism or communism actually believes that we have that here in America with oil and gas. We don't. That oil and gas belongs to those who bought the leases, drilling rights and actually pumped it from the ground.

Every American can tell the oil companies to go pound sand. That is if Americans wanted to.

All you have to do is change the vehicle you drive.

Just like I did. I have been driving past gas stations laughing at the people wasting their money on gas for over two decades now. The price of gas to put in my vehicle has been irrelevant for over two decades now.


Or you all can keep whining and bashing politicians which will do absolutely NOTHING to solve the situation.

 

[Integrityrespec]

U.S. oil industry prepares to boost production — but with a giant warning

A jump in gasoline prices above $4 has oil companies eyeing crude oil output hikes, but pain at the pump will linger as shaky oil markets shun Russian cargoes.

www.politico.com

How many friggin people have I been arguing with on this very board about how the Oil Companies can up production whenever they want (just to be called a liar).

This argument was oh so easy to win. All I had to do was wait.

170 Years of Earth Surface Temperature Data Show No Evidence of Significant Warming

Author: Thomas K. Bjorklund, University of Houston, Dept. of Earth and Atmospheric Sciences, Science & Research [Notice: This November 2019 post is now updated with multiple changes on 5/3/2020…

wattsupwiththat.com

 

[CaughtInThe]

Your thinking is simplistic.

no, it's just true. oil companies have increased and decreased oil production many times throughout history.


now, i get that you guys want to play both sides of the fence (get government out of oil production while they sit on leases AND blame the president of one country). speaking of simplistic.

 

[CaughtInThe]

You sure have left out a lot of the particulars to the cost of production. Leases, permits, equipment, exploration, drilling, extraction, storage, shipping, refinement, more shipping. Just off the top of my head. XL pipeline if it had been allowed from the start would be moving that tar sand oil now. By 2030 it would be a major part of tripling that production.

can oil companies increase oil production if they want to?

 

[justoneman]

no, it's just true. oil companies have increased and decreased oil production many times throughout history.


now, i get that you guys want to play both sides of the fence (get government out of oil production while they sit on leases AND blame the president of one country). speaking of simplistic.

Very few of these land leases have oil under them.

 

[CaughtInThe]

Very few of these land leases have oil under them.

that's some dumb ass oil execs buying up dirt.


btw, can oil companies increase oil production if they want to?

 

[justoneman]

that's some dumb ass oil execs buying up dirt.


btw, can oil companies increase oil production if they want to?

No they are not dumb. They speculate on where oil might be. They lease the land. Lots of land not knowing if there is oil. They do studies of the sites. They take samples of soil. Most of these go nowhere. Closed federal land leases has restricted possibile new reserves discoveries. Your ideas of spigots opened and closed controlling prices is naive.

 

[CaughtInThe]

No they are not dumb. They speculate on where oil might be. They lease the land. Lots of land not knowing if there is oil. They do studies of the sites. They take samples of soil. Most of these go nowhere. Closed federal land leases has restricted possibile new reserves discoveries. Your ideas of spigots opened and closed controlling prices is naive.

and yet they have found tons of oil over time (which they now pump and make gobs of $$$$).


btw, can oil companies increase oil production if they want to?

 

[rickc]

Well periodically we go through these peaks and valleys in oil prices. Lots of variables cause it. Present situation worst case scenario. Rapidly increasing demand and war disruption.

One thing oil companies get out of it is seeing what the market will bear. At what price does demand start to drop.

 

[Integrityrespec]

All this arguing about gas and oil is ridiculous.

Most don't see that we have become slaves to that oil and gas. So much that here in a capitalistic nation, countless people actually believes that our government owns that oil and can dictate the price and how much is on the market.

Guess what folks?

The president can ask but there is nothing the president can legally do to force any oil company to produce more oil. That decision is up to those who OWN the oil company.

No politician is going to be able to change the situation but we as Americans can.

Stop expecting the government to do everything for you.

What really blows my mind is that Americans don't realize they have the power to not pay those ridiculous prices for gas.

Or at least not pay as much.

I did that in 2001 when I decided to never buy a regular gas vehicle again. And I haven't bought a regular gas vehicle since then.

Anyone can go out today, right now, to buy a hybrid or electric vehicle. The technology is already here along with the vehicles.

I just shake my head at the same people who scream they hate socialism or communism actually believes that we have that here in America with oil and gas. We don't. That oil and gas belongs to those who bought the leases, drilling rights and actually pumped it from the ground.

Every American can tell the oil companies to go pound sand. That is if Americans wanted to.

All you have to do is change the vehicle you drive.

Just like I did. I have been driving past gas stations laughing at the people wasting their money on gas for over two decades now. The price of gas to put in my vehicle has been irrelevant for over two decades now.


Or you all can keep whining and bashing politicians which will do absolutely NOTHING to solve the situation.

Why would the oil companies invest in unproven leases and the exploration when the very President now blaming them for shortages told them he was going to run the fossil fuel companies out of business in America.

Joe Biden Promises Environmentalist: ‘We Are Going to End Fossil Fuel’

Joe Biden told a concerned activist in New Hampshire Friday that he guarantees that “we are going to end fossil fuel.”

www.breitbart.com

Candidate Joe Biden promises to end fossil fuels. - Search Videos

www.bing.com

 

[BlueTex]

No they are not dumb. They speculate on where oil might be. They lease the land. Lots of land not knowing if there is oil. They do studies of the sites. They take samples of soil. Most of these go nowhere. Closed federal land leases has restricted possibile new reserves discoveries. Your ideas of spigots opened and closed controlling prices is naive.

Since that oil is now more valuable, should we double the price we charge to lease the land to them?

 

[justoneman]

Why would the oil companies invest in unproven leases and the exploration when the very President now blaming them for shortages told them he was going to run the fossil fuel companies out of business in America.

Joe Biden Promises Environmentalist: ‘We Are Going to End Fossil Fuel’

Joe Biden told a concerned activist in New Hampshire Friday that he guarantees that “we are going to end fossil fuel.”

www.breitbart.com

Candidate Joe Biden promises to end fossil fuels. - Search Videos

www.bing.com

All new leases are unproven.

Its a business. They will find oil as they can regardless of what Biden says.

 

[jnug]

There is neither a magic spigot nor a magic shut off valve. Any attempts to partially shield us from the International oil market went out the window when we ended the 40 year ban on exports of oil. The only thing that shields us at all now is the fact that we are such a big customer. We consume so much. Not the most comforting shield but a shield none the less.

We should never have made enemies of the Iranians in the 1950's by trying to dictate the management of their oil production to them. They are not the Saudi's who willingly lift their robes and bend over the desk for just anybody. Iran is ancient Persia. They are actually a country with a proud history. Good luck trying to push them around as we have now seen for all of the decades since the 1950's. Saddam Hussain did not have better luck than we did with trying to push Iran around.

The GOP apparently did not realize that the JCPOA was actually a means for the US and the West generally to prove to Iran that we could actually stick to a deal without really just trying to stab them in the back. In other words it was potentially a road back to Iran, the first potential road back in DECADES!! Then comes no brains, all balls Donnie Docktails who promptly rips up the deal based on a rather naive "understanding" of the world. All Donnie really knows is what he can see from his golden shit house in Manhattan or his Florida enclave....in other words....not much.

But Vlad has really screwed things up, for himself more than anybody else and ultimately for all of the Russia-cons that constantly find ways to both denigrate their own country OURS, while trying to elevate Vlad. They all end up looking rather STUPID as well. All of the hopeful optimists who had somehow convinced themselves that Vlad would come West at some point get coal in their stocking for Christmas too. That include Obama and Bush 43 and Clinton. Admittedly, Obama and Trump were the worst of the bunch as the handwriting was on the wall during Obama's term in office, handwriting he clearly ignored and Trump just did not give a crap. Whats good for Donnie is good for Donnie and that was Donnie's only policy initiative.

But Vlad has done himself in as he has forced the world to open its eyes. Europe will do whatever it can now to wrest itself from Russian fossil fuel dependence and while the Saudi's are not going to do much to help us through this immediate oil shortage problem, they are already making inroads in Europe as is UAE. As for us, we can for the most part take care of ourselves with a little help from Venezuela and Saudi. I would like to think its possible to bring Iran back in the fold but its really not. They carried their vengeance all the way from the 1950's to Obama and then Trump had to go and convince them that we still could not be trusted. I would say we would be lucky to mend those fences in 20 more years, more likely double that. Remember also that at some point in time conversion to renewables is going to have a real impact in this country. Sorry GOP, its going to happen whether you want it to or not....same goes for you Joe Manchin.

In some ways Vlad is making life more miserable for Xi and China as well and don't think Xi doesn't know it.

 

[bave]

Anyone can go out today, right now, to buy a hybrid or electric vehicle. The technology is already here along with the vehicles.

Where is that electricity coming from? More than likely a natural gas power plant. Those prices have ~doubled as well.

can oil companies increase oil production if they want to?

Tomorrow? No, not materially. In thirty days? Again, no, not really. It takes ~6 months to bring a new well online, assuming you have the labor, materials, equipment, and headspace in pipelines, which are all not happening right now.

This is why your entire threads in this space are comical. You think you can drill an oil well like you are drilling a residential water well. That's not the case and you would have to be a biblical moron to think oil companies are just sitting around holding oil back at record prices. Is that it?

 

[CaughtInThe]

Where is that electricity coming from? More than likely a natural gas power plant. Those prices have ~doubled as well.



Tomorrow? No, not materially. In thirty days? Again, no, not really. It takes ~6 months to bring a new well online, assuming you have the labor, materials, equipment, and headspace in pipelines, which are all not happening right now.

This is why your entire threads in this space are comical. You think you can drill an oil well like you are drilling a residential water well. That's not the case and you would have to be a biblical moron to think oil companies are just sitting around holding oil back at record prices. Is that it?

It's comical watching the lengths that someone will go to to try to prove that the oil industry cannot increase or decrease production.

 

[bave]

It's comical watching the lengths that someone will go to to try to prove that the oil industry cannot increase or decrease production.

I just answered specific and clearly what they can and cannot do and why. Those statements are substatianted by the IEA, API, and every domestic oil producer in the US financial statements and projections. Do you have anything to indicate that they could otherwise quickly and material ramp up domestic production? Anything at all?

 

[Liberal7360]

Where is that electricity coming from? More than likely a natural gas power plant. Those prices have ~doubled as well.



Tomorrow? No, not materially. In thirty days? Again, no, not really. It takes ~6 months to bring a new well online, assuming you have the labor, materials, equipment, and headspace in pipelines, which are all not happening right now.

This is why your entire threads in this space are comical. You think you can drill an oil well like you are drilling a residential water well. That's not the case and you would have to be a biblical moron to think oil companies are just sitting around holding oil back at record prices. Is that it?

I couldn't get past the first sentence. I stopped reading.

It doesn't have to come from natural gas or coal or any fossil sources.

My state is a very good example of that. We don't use fossil fuel to generate electricity.

We use water, wind, solar and nuclear. We do use natural gas here but it isn't used to generate electricity. We use it to heat our homes, heat our water and cook. Not to generate electricity.

We started closing our last coal fire plant in 2005. That one is in the central part of the state for some of the farmers there. I don't know the progress but I'm pretty sure that it's been finished closing down by now.

We started building one of the largest wind farms in the nation in the 90s. Parts of my state are the Saudi Arabia of wind. When that system first came on line, it generated more energy than the existing grid could handle. So we voted to raise our taxes to build a new grid. We have been adding windmills yearly. We also have been building solar farms.

The result.

Our air is cleaner, we stopped requiring regular gas cars to get smog checked in 2019.

We generate more electricity than we use so we sell the excess for a profit to other states.

We have some of the lowest electricity rates in the nation. I haven't paid this month's electric bill but last month's bill was $39.99.

So the electricity that charges vehicles here in my state doesn't come from fossil fuel sources.

Your state can do the same thing.

 

[Liberal7360]

Where is that electricity coming from? More than likely a natural gas power plant. Those prices have ~doubled as well.



Tomorrow? No, not materially. In thirty days? Again, no, not really. It takes ~6 months to bring a new well online, assuming you have the labor, materials, equipment, and headspace in pipelines, which are all not happening right now.

This is why your entire threads in this space are comical. You think you can drill an oil well like you are drilling a residential water well. That's not the case and you would have to be a biblical moron to think oil companies are just sitting around holding oil back at record prices. Is that it?

I will add.

A hybrid car doesn't need to be plugged into anything. It charges the batteries as you drive.

So you use less gas.

I get over 50mpg in the summer and around 50 mpg in the winter.

So if you don't want to go full electric you can buy a hybrid and not have to plug into anything.

You come up with excuses to not change. Fine. That's your choice but it means that you continue to be addicted to oil and gas. You will continue to be gouged just to be able to have transportation.

It seems to me you would rather complain about the situation instead of actually doing something about it.

I will point out that natural gas isn't the same thing as oil and regular gas.

I just got my natural gas bill for the month. It was $140.00. That is to heat my home, heat my water and to cook.

In 2013 we got my ex a chevy Volt. It plugs in and uses gas. He plugged it in every night. He hardly ever used gas.

It added $8.00 a month to our electricity bill.