[Aragorn]

Originally Posted by m6-lt1

Oil prices and oil company profits are the one thing/only thing I wish was actually regulated by the government. I keep seeing people mention the price of oil per barrel is the same for everyone. As a middle eastern American, I can tell you that’s not true. It is not 4 dollars a gallon in middle eastern countries because their governments have say over their oil prices. It’s literally less than $4 bucks to fill up a camaro with 95 (not even 93) octane in the country my nationality is lol. Again before everyone gets their panties in a bunch I clearly said “only thing” I wish was regulated by the government meaning nothing else should be.

100% agree with you, but you mentioned a word that gets everyone riled up!

[m6-lt1]

Originally Posted by Aragorn

Pipeline is just a pipeline and with no effect on production.

As far as production we were the largest producer of oil last year and surpassed the previous year. I believe this year we are on pace to surpass last year. Not to beat a dead horse but we have become incredibly efficient at producing oil. MURICA!

While this is true we need to drill even more. It would be nice if we could produce more than we use on a daily basis. Contrary to some popular beliefs by some people we were NEVER energy independent under any admin. We always have consumed more than we produce. I believe all these drilling restrictions/bans minus the pipeline (which has no effect on todays gas prices because it’s less than 20% done like you mentioned) have been lifted but drillers/oil company’s just aren’t doing any drilling. Something about securing loans is tough because oil is seen as a risky investment.

[RealG]

How is it possible to talk about what’s going on in the world without bringing in politics. It’s not. The same people that caused all this mess now they don’t wanna talk about it.

[Speak99]

I agree that Biden shares a huge amount of blame for these prices. The price has increased since he took office prior to Putin.

Not much mention in this thread about blame for the environmental movement that has just as much money as the oil lobby and have been effective at painting North American oil as dirty.

[m6-lt1]

Originally Posted by Speak99

I agree that Biden shares a huge amount of blame for these prices. The price has increased since he took office prior to Putin.

Not much mention in this thread about blame for the environmental movement that has just as much money as the oil lobby and have been effective at painting North American oil as dirty.

I’m not going to say those policy’s have zero effect on oil prices, but imho the main culprit is opec and other oil cartels artificially limiting supply thus causing prices to go up. If they would pump the same amount as the prepandemic days no one would be having this conversation because most of the policy’s we don’t like by this admin have more of an affect on future prices than today’s prices. But hey at least they are reversing all the policy’s now haha.

[Dave777]

OPEC has zero obligation to increase production just because the president of the USA calls asking for more oil.

If anything….. OPEC won’t increase cause they will get more money for less output.

[arpad_m]

Originally Posted by Dave777

OPEC has zero obligation to increase production just because the president of the USA calls asking for more oil.

If anything….. OPEC won’t increase cause they will get more money for less output.

...and going to OPEC to beg for higher production volume is proof positive of incompetence on a massive scale.

[Aragorn]

Originally Posted by m6-lt1

While this is true we need to drill even more. It would be nice if we could produce more than we use on a daily basis. Contrary to some popular beliefs by some people we were NEVER energy independent under any admin. We always have consumed more than we produce. I believe all these drilling restrictions/bans minus the pipeline (which has no effect on todays gas prices because it’s less than 20% done like you mentioned) have been lifted but drillers/oil company’s just aren’t doing any drilling. Something about securing loans is tough because oil is seen as a risky investment.

Arguably we could be drilling more, but we wouldn’t see the effects for a while.
I wonder if oil companies would make as much $$ if they did… Did I mention we’re already the #1 oil producer and still climbing?

[Aragorn]

Originally Posted by Speak99

I agree that Biden shares a huge amount of blame for these prices. The price has increased since he took office prior to Putin.

Not much mention in this thread about blame for the environmental movement that has just as much money as the oil lobby and have been effective at painting North American oil as dirty.

Correlation vs causation.


Inflation, strong economy, Putin.

[TXCSSU]

It's funny how little people mention the gas and oil company's record profits but are quick to mention entities that don't even have direct impact on oil and gas prices. "that dern brandon n hizz confounded soshulizm izz killin da ecornermey!" In one breath "brandon" is a "pinko-socialist" and in the same breath people will scream that he needs to regulate gas prices. You almost sense that the same people probably hate education as you can't be a socialist/commie/etc. and then try to let the market act the way it's supposed to.

[Dave777]

Originally Posted by arpad_m

...and going to OPEC to beg for higher production volume is proof positive of incompetence on a massive scale.

I agree with you 1000000 %

[Aragorn]

found this: Getting more oil flowing requires capital and comes with high risks in a volatile oil market. With steep losses in recent memory, the investors who control the purse strings are keeping the companies on a tight leash. “Ultimately, companies have to make a decision to risk their capital… nobody knows how this episode is going to play out,” Mark Viviano, managing partner at Kimmeridge, a private equity firm focused on oil and gas, told a packed conference room on March 8. “I don’t think it’s realistic to think there’s going to be a collective industry response to this crisis. Unfortunately, it’s just not the way the industry is.”

[Martinjlm]

Originally Posted by Aragorn

found this: Getting more oil flowing requires capital and comes with high risks in a volatile oil market. With steep losses in recent memory, the investors who control the purse strings are keeping the companies on a tight leash. “Ultimately, companies have to make a decision to risk their capital… nobody knows how this episode is going to play out,” Mark Viviano, managing partner at Kimmeridge, a private equity firm focused on oil and gas, told a packed conference room on March 8. “I don’t think it’s realistic to think there’s going to be a collective industry response to this crisis. Unfortunately, it’s just not the way the industry is.”

He was speaking at CERAWeek in Houston. This is a huge deal oil industry conference with oil company C-Suite and Washington DC who’s who in attendance. My company sponsors it every year.

[Bob54]

Gas was 4.14 per gallon in 2008. Accounting for inflation it would now be $5.38. Get over it. You knew or should have known. I went for the V6 as a result. I average about 30 MPG and I am well positioned for more expensive gas. Given the Ukraine situation I will gladly pay more and walk more as necessary.

The feeling of being pushed back in the seat by massive torque, priceless! I intend to do it with an electric car though.