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Biden's courting the Saudi's to increase oil production to sell to the U.S., & to lower World prices.
He pledged to take sides with Saudi Arabia over Iran militarily, (against Iran's nuke ambitions) which again draws us into Middle Eastern conflict, where we do not belong.
At the same time, Biden's party has asked banks not to fund USA oil company explorations, & stopped the XL pipeline, which constrains North American (Canada) oil production & sales into the global markets.
So, why is Saudi oil/gas better than North America's? Does it burn cleaner?
Why spend Billions on Middle East oil when so many Middle Easterners hate America, & have attacked our citizens, & military, here and abroad?
Why put North America in the postion to have to take sides in Middle Eastern affairs...again? Canada's oil/gas production doesn't put us in any such position.
Why not promote the production of North American oil & gas instead?
Biden & the Democrats are repeating behaviors that failed us before, & are hoping for different results this time around. Are they insane, or will getting more deeply involved in Middle Eastern affairs, turn out differently this time?
We've been down this road before, and it didn't end well.
doing so would require deregulation which is political suicide for the left. fortunately for democrats, their base doesn’t realize the logistics of imports. the gas magically appears at the pump.
Biden and his ilk do not understand the basics of Supply and Demand.
What is the best tomato you can eat? One that is grown in your own backyard.
We need oil for everything so why not produce it here at home? Trump knew this was the best for us, the overall price and the best for the environment. Those huge tankers that transport the ME crude use about 1 gallon of fuel for 100 feet of travel. How is that helping the planet?
We need oil for everything so why not produce it here at home? Trump knew this was the best for us, the overall price and the best for the environment. Those huge tankers that transport the ME crude use about 1 gallon of fuel for 100 feet of travel. How is that helping the planet?
What good information.
Does anybody have a chart that will inform us how much energy is consumed or could be saved by all the other ways humans use energy?
I do know proper tire inflation and driving sensibly saves gasoline.
It is Obama who permitted and encouraged fracking. Trump all but destroyed the US oil business when he crashed the economy in early 2020. Thousands of wells were shuttered, billions in investment lost. Since Biden took over, US oil production has been steadily increasing and now is nearly what it was just before the Trump crash. The challenge has been for investors to commit again. They demand ROI cash after being burned in the Trump administration and that limits the ability to seek out and develop new supply.
It is Obama who permitted and encouraged fracking. Trump all but destroyed the US oil business when he crashed the economy in early 2020. Thousands of wells were shuttered, billions in investment lost. Since Biden took over, US oil production has been steadily increasing and now is nearly what it was just before the Trump crash. The challenge has been for investors to commit again. They demand ROI cash after being burned in the Trump administration and that limits the ability to seek out and develop new supply.
Your opinion above ignores a global pandemic, and our gov'ts over-reaction to it. It also ignores my original ? of how is Saudi oil better than North American oil?
Here is more support for my OP stating Biden is preventing bank investment in oil exploration:
So, Biden shuts off sources of oil exploration investment for American oil companies, then seeks to buy Middle Eastern oil that has all kinds of nasty strings tied to it.
How is Middle Eastern oil better? Why take the risk unnecessarily of getting involved in Middle Eastern conflicts...again?
Your opinion above ignores a global pandemic, and our gov'ts over-reaction to it. It also ignores my original ? of how is Saudi oil better than North American oil?
Here is more support for my OP stating Biden is preventing bank investment in oil exploration:
So, Biden shuts off sources of oil exploration investment for American oil companies, then seeks to buy Middle Eastern oil that has all kinds of nasty strings tied to it.
How is Middle Eastern oil better? Why take the risk unnecessarily of getting involved in Middle Eastern conflicts...again?
The US does not import much Saudi oil. About a half million bbl per day out of 20 million or so we consume. Increased production would not go to the US but onto the international markets.
Our imported oil comes from Canada mostly. We also sell much of our domestic production overseas. If more Saudi oil were out there then we might sell less outside of the US. When I say "we" I mean the oil companies. Our government does not control them. In fact some of the biggest oil companies in the world that we buy our gas from are not even US corporation (Shell, BP, Total).
The point here is that oil is a global commodity and Biden has virtually no control over it other than stumping to get foreign and domestic privately owned producers to open the taps. Decisions about production are made on economic realities not campaign rhetoric from a US president or environmental red meat being tossed to the base. Carping about Biden and oil prices is nothing but political posturing.
Given our invasions, assassinations, installing dictators, CIA operations, Seal team etc. incursions into foreign land and so forth....it was a pretty stupid move to try to overly publically drag on (long time ally) Saudi Arabia for Kashoggi.
They're a kingdom, he angered the prince and King and got the Game of Thrones treatment.
This is not an endorsement, just a call to rejoin reality and set aside the hypocrisy.
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