Jean-Pierre on drilling more in the US: 'We don't need to do that' (gas price, how much)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Or is it more likely that the refineries were shut down when COVID cratered demand for gasoline and now that the demand is once again there, the oil companies are having issues spinning those refineries back up? Are they finding enough new hires to staff these refineries, in an age when unemployment is around 3.5%?
Kind of all of the above.
When the economy shutdown and oil went negative they definitely downscaled production, laid of refinery workers and idled extraction. Even before then fracking was in a bust. E.g., one of my uncles retired in 2016 from a sales job in pumps and well agitators. He made a ridiculous amount during the boom and then when it slowed down he just got out. Two others are roughnecks and equipment mechanics. They were both laid off during COVID which was on the extraction side. They're late 50s now and if you've got any family in the industries you know how it is. By that age they're dropping left and right like flies from cancer. It's not everyone but everyone in those industries can start ticking off the coworkers who are dead and dying. They might have kept working because that's basically their identity is oil workers. But once they got forced out and laid off, well, they aren't coming back now.
"Where you see that?" LOL wow...anyways, we haven't had any new refineries since the 70's. Trump wanted to open more, but was shot down. Biden wants to keep it that way:
"Even with the pandemic waning, there’s little incentive for companies to reopen their plants. The industry still expects gasoline and diesel use to be flat for the next few years, Auers said. And the Biden administration has been signaling since 2020 that it wants to move the U.S. away from its reliance on fossil fuels."
"I reinforced in a letter to President Biden and his Cabinet yesterday ten meaningful policy actions to ultimately alleviate pain at the pump and strengthen national security, including approving critical energy infrastructure, increasing access to capital, holding energy lease sales, among other urgent priorities.
The executives also noted that investing in additional capacity is a long-term decision and is discouraged by Biden's efforts to move the economy away from fossil fuels, citing his campaign comment that he meant to "end fossil fuel."
In fact, they added that U.S. refiners are “adding” new refining capacity “where it makes business sense.”
Current market conditions are complex, they added, noting that, even if refiners could bring more refining capacity online, “the result could be higher demand and higher costs for crude oil. “
Lots of could but can’t, but we are, but if we do they going to want more. Bla bla. Read between the lines. Did we suddenly get 50000000 new cars or people who use up oil? No
After painfully reading through whatever it is that you just typed, along with your sources, I have to commend you. Because what you lack in proper English when typing out your sentences, you make up for it in parroting media bias. Oil companies shut down during COVID, causing many of them to close for good. They opened up last year and had to deal with Biden carrying out his Socialist campaign promises, and choked them. As they tried to rebuild, he got in the way. He made it harder to drill, required more hoops and barrels to jump through for permits, Didn't allow them to build up their supply, killed off pipelines and made us less energy independent. He cracked the whip on OPEC and other countries to produce and provide us more oil while crippling them.
I mean come on, there's a reason OPEC told him to pound sand when he called them crying. And after blaming Putin for all of it, we're getting more oil from Russia, more from Socialist Venezuela, and after heckling Trump for peace deals and more deals with Saudi Arabia, as well as calling them a "Pariah," he's now traveling their to kiss their ass for......wait for it...........OIL!!!
Look, I'm not going to act like the oil companies are a bunch of filthy rich tycoons, but that's the thing: they're in the business to make money. They already took a hit from COVID, and are dealing with this buffoon imposing Socialist restrictions. You can't keep kicking the cow while you're milking it. Eventually you won't get anything. Especially when our sitting POTUS won't abandon his plans to eliminate fossil fuels:
And when you limit how much oil you're producing in your own country, while demanding everyone else on the planet ship it to you, all while those countries need it for themselves, you can drain the supply pretty quickly. But you go on with whatever wacky theory you have. You'll find out the hard way soon enough.
Noooo...no new leases but the oil companies have admitted they stockpiled leases and don't want to expand just now.
And can you blame them? Biden has made it incredibly difficult to obtain those leases, let alone drill. I'd be holding onto them too with how much BS he's thrown at them to make their operations more difficult. It's a joke.
Interesting how we had enough refineries a few months ago, and for the decades and histories past. The left went from stating that the President has zero power over oil prices, to admission that he does, now to refinery problems. Let me ask you Biden supporters this, if refinement is the issue, why did Biden open up our National Security Reserves?
The answer why oil is high is obvious, it was purposely made expensive so that it could compete with Green Energy in the New Green Deal. Biden has said this multiple times, and you lie or completely ignorant of the fact. The price of oil trades on the current supply and also based on the future supply of oil. On day one of Bidens Presidency he cancelled the Keystone Pipeline which was 800k barrels a day flowing through to the gulf on refinement. The price of oil had it calculated into the market price. Next Biden cancelled Lease agreements, which the effects will/is putting the country behind years now on oil production. The price of oil is reflecting the lackluster future supply of oil and the forecasted increased demand, so prices are up. Its pretty straight and simple.
All of Biden's energy policies have been to retard energy devlopment and raise prices.
He is trying to please his Leftist wing who want to see the entire Green New Deal put into place. Energy costs will never come down substantially under Biden. It will be the new normal.
I love road trips. 91 octane runs through my veins. I can't afford road trips anymore.
This is what the oil companies have said. The bottleneck at the refineries. So how about we build more of those ???
Like let’s also build another baby formula factory while we at it
Um...you did read the part where Biden's new regulations have forced refineries to close, right? If we want to build more, we need to replace Oatmeal in the Oval.
“If you really believe they’re going to be imposing regulatory and other constraints on the development of fossil fuel resources and investment in fossil fuel infrastructure, then higher prices are the result down the road — and therefore are the result now,” Zycher told The Post.
Biden says he ‘can’t do much’ about rising gas prices, blames Russia
The administration is reportedly in diplomatic talks with longtime foes Venezuela and Iran as it looks for alternative sources to stave off the financial crunch facing US motorists — but outreach to US firms has been limited.
Republicans and other Biden critics say his actions and proposals since taking office – such as canceling the Keystone pipeline, suspension of new federal oil and gas leases, higher drilling fees on federal land and a Democratic-led push for the Federal Reserve to implement climate change policies – have sent a clear signal to US producers.
Last edited by Toyman at Jewel Lake; 06-16-2022 at 03:47 PM..
This is what the oil companies have said. The bottleneck at the refineries. So how about we build more of those ???
Like let’s also build another baby formula factory while we at it
If you were the CEO of an oil company, would you invest hundreds of millions / billions of dollars building plants that one of the two political parties are trying to make the product they produce obsolete?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
