Author Topic: Gas prices 3/8/22  (Read 3993 times)

Offline fatfillup

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Re: Gas prices 3/8/22
« Reply #15 on: March 10, 2022, 11:50:10 AM »
 :38:
Just remember they're lying their asses off to us.

NO doubt Biden is putting a very heavy spin on the fuel situation. 

In a little quick reading, seems the price of oil would come down if the Keystone Pipeline was restarted even though it adds nothing to current production and if US producers were asked to up production (which they haven't been) price would come down as well even before they added any oil to the mix.  Apparently, part of the price of oil is psychological and not rooted in reality of what's available. 

The Saudis I believe and maybe Qatar stated they would ramp up production and the price fell immediately $20 a barrel.

I was curious as to what Biden and company have done to curtail US production and couldn't find anything concrete other then possible and likely policy shifts.  Obviously, no new leases hurts future production and tightening regs, which I don't know if its happened yet or just threatened would really hurt production.

I know Slip Knot may have some insight.

One thing I did find was the Covid killed demand so US production slowed, don't think it has ramped back up or is doing so slowly

If anyone has real info, please share

Online Lookin4_67GalaxieConv

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Re: Gas prices 3/8/22
« Reply #16 on: March 10, 2022, 12:11:00 PM »
Biden and his lackeys keep going on about 9,000 unused oil and gas leases.  What they're not telling us is about all the regulations that were imposed as soon as Biden took office, as well as curtailing offshore leases using climate change as the excuse.  Meanwhile idiots Booty Judge and Kamala are out there telling us to simply spend fifty grand on an electric car.
boop/bop/beep

Offline slip knot

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Re: Gas prices 3/8/22
« Reply #17 on: March 10, 2022, 07:35:52 PM »
Phil, for some insight into the O&G world. try this site. Pretty informative without the BS spin that the MSM adds.

https://www.rigzone.com/news/?gclid=EAIaIQobChMI2P-GvfW89gIVYhXUAR31IAuFEAAYASABEgJOL_D_BwE&gclsrc=aw.ds

Online john k

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Re: Gas prices 3/8/22
« Reply #18 on: March 10, 2022, 08:01:43 PM »
The KEYSTONE Pipeline would bring crude from the Canadian oil sands to Texas, to be refined there.  It is Canadian crude, after refining Canada would still own it with intentions to sell it overseas.  This has been the plan from the start.  The planned route across my state, Nebraska, is directly across the Ogalala Aquifer.   This supplies a good portion of the water to several states, millions  of acres of ag land, and the only water for hundreds of towns.  Look it up.  The safety record of this pipeline is established and is poor.  Check the hundred thousand gallon leak in the Dakotas for example.  Completing it or not would have zero effect on our gas prices. 

Offline fatfillup

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Re: Gas prices 3/8/22
« Reply #19 on: March 11, 2022, 07:59:25 AM »
John, I hear ya but since oil is a global commodity,  adding more inventory to the mix would have an effect on global prices.

Now to your point of safety and is it a good idea given the path and safety record, you may very well be correct.

Offline fatfillup

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Re: Gas prices 3/8/22
« Reply #20 on: March 11, 2022, 08:05:41 AM »
Slip Knot, thanks for the link, will read it later.  I really like to get my info without spin and that is hard to do

Offline walrus

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Re: Gas prices 3/8/22
« Reply #21 on: March 12, 2022, 06:23:31 AM »
Biden and his lackeys keep going on about 9,000 unused oil and gas leases.  What they're not telling us is about all the regulations that were imposed as soon as Biden took office, as well as curtailing offshore leases using climate change as the excuse.  Meanwhile idiots Booty Judge and Kamala are out there telling us to simply spend fifty grand on an electric car.
If it was profitable to drill, oil companies would be drilling. If the price of crude continues to rise, they will drill.

Offline goodfellow

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Re: Gas prices 3/8/22
« Reply #22 on: March 12, 2022, 06:38:36 AM »
Biden and his lackeys keep going on about 9,000 unused oil and gas leases.  What they're not telling us is about all the regulations that were imposed as soon as Biden took office, as well as curtailing offshore leases using climate change as the excuse.  Meanwhile idiots Booty Judge and Kamala are out there telling us to simply spend fifty grand on an electric car.
If it was profitable to drill, oil companies would be drilling. If the price of crude continues to rise, they will drill.

Yes, but they need government approved leases to develop the fields and run the infrastructure to move the oil and gas out of the fields. The Biden administration shut down a lot of leases, and tied up a lot of oil transport infrastructure development by either cancelling outright, or adding additional environmental impact studies.

Pressure is building on the President and the Dems, they will have to put something on the table before the mid-terms, or they are toast.




Online Lookin4_67GalaxieConv

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Re: Gas prices 3/8/22
« Reply #23 on: March 12, 2022, 11:10:47 AM »
Biden and his lackeys keep going on about 9,000 unused oil and gas leases.  What they're not telling us is about all the regulations that were imposed as soon as Biden took office, as well as curtailing offshore leases using climate change as the excuse.  Meanwhile idiots Booty Judge and Kamala are out there telling us to simply spend fifty grand on an electric car.
If it was profitable to drill, oil companies would be drilling. If the price of crude continues to rise, they will drill.

Hard to swim when your arms are behind your back in handcuffs.
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Offline slip knot

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Re: Gas prices 3/8/22
« Reply #24 on: March 12, 2022, 12:09:42 PM »
Biden and his lackeys keep going on about 9,000 unused oil and gas leases.  What they're not telling us is about all the regulations that were imposed as soon as Biden took office, as well as curtailing offshore leases using climate change as the excuse.  Meanwhile idiots Booty Judge and Kamala are out there telling us to simply spend fifty grand on an electric car.
If it was profitable to drill, oil companies would be drilling. If the price of crude continues to rise, they will drill.

I read an article in rigzone that was predicting oil to reach $240 this summer but producers are still reluctant to jump in over fears that rampant inflation will put a damper on spending of any kind.

Offline TexasT

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Re: Gas prices 3/8/22
« Reply #25 on: March 13, 2022, 03:49:54 PM »
Inflation and the uncertainty of the economy going forward are colossal factors. No one puts their resources into uncertain returns. Even if the o&g can be extracted, the selling price/profits aren't at least able to be predicted so no financing is available.

Just like a car or house, those providing the financing want to know they are getting their money back eventually. 
Rich

Offline fatfillup

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Re: Gas prices 3/8/22
« Reply #26 on: March 13, 2022, 08:16:46 PM »
Slio Knot, checked out the link, liked it, seemed like good info


Online john k

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Re: Gas prices 3/8/22
« Reply #28 on: April 01, 2022, 10:43:26 AM »
This month in Nebraska, never saw higher than 3.99.   This week everything back to 3.79,  think a discount place was 3.69, but across the median and couldnt get closer.

Offline fatfillup

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Re: Gas prices 3/8/22
« Reply #29 on: April 01, 2022, 03:50:39 PM »
https://blackchronicle.com/why-texas-frackers-wont-be-riding-to-the-rescue-its-profit-taking-time/?fr=operanews

Great article on why oil production won't increase a lot, to maintain prices and to return shareholder's cash.  Makes perfect sense but can they restrain themselves and act as a group long term?  That will be seen