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OPEC meeting tomorrow, production cuts will happen. Russians rumored to attend the meetings. Gas and home heating oil will skyrocket just in time for the mid-terms. Maybe Biden can fly over to see MBS today and beg some more.
OPEC meeting tomorrow, production cuts will happen. Russians rumored to attend the meetings. Gas and home heating oil will skyrocket just in time for the mid-terms. Maybe Biden can fly over to see MBS today and beg some more.
And Biden put pressure on oil companies NOT to export. Even threatened to use his "emergency war powers" to force oil companies to do his bidding,
We're riding into the "Perfect Storm" here .....bad, very bad especially with "Mr Dictator" at the helm.
Biden CAN bypass Congress because of the emergency power he has...which he just extended.
OPEC meeting tomorrow, production cuts will happen. Russians rumored to attend the meetings. Gas and home heating oil will skyrocket just in time for the mid-terms. Maybe Biden can fly over to see MBS today and beg some more.
Good thing to happen just before mid terms. Polling has been starting to shift back towards the GOP anyways and this will ensure there is like no chance the evil left and their Green New Deal banning of fossil fuel agenda they can push if it has control of both chambers after November 8. This is the silver lining to a big jump in oil and gas prices only for now!!
After November 8, Saudis will ramp production eventually back up as they realize too high of prices will cause people to look towards other energy sources as someone mentioned. But they cannot be too low either. But the problem is Russia even well after mid terms when the GOP has at least one chamber of congress and then when we all want low and not too high of energy prices prices again. Russia war in Ukraine is hinderance. Though production from domestic oil producers should increase a lot if they realize the evil left cannot try and restrict fossil fuels so badly after November 8 when GOP controls at least one or both chamber of congress.
We wouldn’t be at the mercy of the Saudis or Russians or anybody else if Biden and the Democrats weren’t so hostile to our own domestic oil production.
No, it's not well stated. The US can't produce enough oil to meet all of our needs. It hasn't done so for more than 60 years.
And before you bring up an export ban, one reason US production is as high as it is right now is because we can export light crude and import heavier crude. US refineries are generally not optimized for the lighter crudes that are being produced from shale. Exxon is getting ready to start up a major expansion of its Beaumont refinery to refine lighter crudes, and Chevron is building a unit for that as well. Light crudes do not work well in refineries designed for heavier crudes.
Even the oil producers don't support that feeling.
It is a feeling created by conservatives.
When almost 70 percent of oil producers openly admit they curtailed production not because of any federal policy but because of recovering profits and securing financial positions, it is ridiculous for people who have no clue about their decisions to create a fantasy theory.
Canada does ship lots of oil (via pipelines that have been set up to take the record setting oil production) to the USA for refining and then to be exported. So is the 4,783,00 number representative of all the oil imported and that stays in the USA?
Canada does ship lots of oil (via pipelines that have been set up to take the record setting oil production) to the USA for refining and then to be exported. So is the 4,783,00 number representative of all the oil imported and that stays in the USA?
Well I assume that Canadian producers are open to selling to anyone who wants to buy. They wouldn’t be boycotting any company who wanted to buy oil for U.S. consumption.
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