Unemployment Under Biden

The leaders of the marxist DPST/ccp party are not about to release their plans to destroy America with such info, SR.

They much rather deflect the attention of the masses with 'bread and circuses' , while they destroy transportation and food service to the people.
They much rather have people focus on the 'poor AOC and her victimhood traumas "

- as much more important than 'Serving the People of teh Nation.

Yes - AOC is a 'circus act" - of denial and deflection to the masses deluded by the marxist DPST/ccp party! Originally Posted by oeb11

In other words you're playing the Chicken Little card yet again...

You are correct on relying too heavily on forecasts, no matter when they were made. Everyone knew the day after the election what Biden would do regarding the pipeline and halting new drilling permits on U.S.land. Drilling on federal land accounts for 9% of U.S. onshore oil production. So nothing Biden has done has impacted current oil production in this country.

Certainly if Biden does something to shut off 25% of the U.S. oil supply that would have a serious impact on the industry but I have not read anything that would imply that he is planning to do that. Originally Posted by SpeedRacerXXX

The 9% doesn’t include federal offshore leases. If you look at my posts you’ll see I was careful to say leases, not lands. With the offshore the total is 25%. Assuming Biden keeps his campaign promise, no more federal offshore leases will be issued and no more drilling permits will be issued. If future administrations keep the EO in place eventually production from existing wells will dwindle to negligible amounts, as the wells deplete the fields.

Hundreds of billions of dollars have been spent on offshore platforms, pipelines, lease bonuses paid to the federal government, and the like. It’s too bad the federal government is taking away the ability of the owners to use those assets to the extent they expected when they spent the money.

If future administrations keep the EO in place eventually production from existing wells will dwindle to negligible amounts, as the wells deplete the fields. Originally Posted by Tiny

Listen to your "what ifs" Tiny. You're talking about something 4 years from now. The Trump admin and say oil and gas could not have predicted Covid.

EV technology, I predict will have a bigger impact on oil prices that these oil lease Biden thing you keep clinging to.

Saudi production is the real key.

They were the ones who singlehandly brought rig count down in this country (along with Covid lol).

Biden has little control over the price of oil.

Feb 04, 2021, 12:30 PM CST
The world’s top oil exporter, Saudi Arabia, raised on Thursday the prices of all its crude oil that will go to the United States and Europe in March while leaving unchanged the official selling prices of its crude to its key market in Asia.

The Saudi state oil giant Aramco raised the prices of all its crude grades to the U.S. by $0.10 per barrel, while the Saudi oil prices to Europe were lifted by between $1.30 and $1.40 a barrel, according to Bloomberg.


The price of the Saudi flagship Arab Light crude grade to Northwest Europe was raised by $1.40 a barrel for March compared to February and set at a discount of $0.50 a barrel against ICE Brent, Reuters reported, citing a pricing document it had seen.

Last month, a day after surprising the market with a 1-million-bpd additional production cut for February and March, the Saudis raised the official selling prices (OSPs) of their oil for Asia for February. Saudi Aramco lifted the price of the flagship Arab Light grade by $0.70 a barrel to a premium of $1 per barrel against the Middle East benchmark, the Oman/Dubai average.

This month, however, the Saudis are leaving the prices to Asia unchanged for March compared to February, after the extra production cut created a rush among refiners in Asia in January, with buyers scrambling to secure crude oil supplies from Europe.

Saudi Arabia has also reportedly announced reductions in crude oil volumes to be supplied to at least nine clients in Asia and Europe for this month. The cuts were made for shipments under long-term contracts and concern Aramco’s heavier grades, according to Bloomberg.

The extra Saudi cut looks to be working, for now, in favor of the OPEC+ producers who are desperate to see higher oil prices to patch up their budgets hit by the crash in oil prices and the economic downturn due to the pandemic. Oil prices have rallied over the past month since Saudi Arabia announced the additional 1-million-bpd cut.

By Tsvetana Paraskova

I'm so worried , I'm buying more. It pays a great dividend at it's current price and I expect it stock price to increase in the next two years.

Plus is Biden shuts down pipelines...that enhances EPD assets! Originally Posted by WTF

If Biden shuts down their pipelines it enhances their assets? You should spend some time with EPD’s 10-K, as you don’t understand their business.

I don’t know if the bans will have a material effect on EPD’s business, but if I owned shares I’d be trying to find out. They do own pipelines and other assets in southeastern New Mexico, where the majority of land is federal.

Shutting down their pipelines won’t happen for a long time under the Biden plan btw, but if we’re going to 0% net emissions by 2050 as he proposes then it will eventually. He and future Democratic governments wouldn’t shut down their pipelines per se, but the volumes of oil transported would become very small. The pipelines will become liabilities, unless they can get something for the steel.

Also Biden’s EO shut down permitting of pipelines on Federal Land. If EPD wants to cross federal lands with a new pipeline to transport crude from privately owned or state lands they’re screwed.

You need to keep getting that 9% or 10% dividend for another 20 years IMO to justify holding the shares. You want a return on your investment, and you’ll have to pay taxes when their depreciation deductions go down. Their income is a function of volume transported. If that goes down, their income goes down, obviously. And so do your dividends

Oh and that’s right WTF, Saudi Production will be the key if Democratic politicians get their way. We’ll go from the largest oil producer in the world to a two bit player, a net importer. The Saudis and other oil exporters will have us over a barrel again.

I would hope you adjust your portfolio more than once every 20 years!

Believing that Biden will abruptly shut down the oil industry is the exact same is believing that Trump was going to revive the Coal industry or that Mexico was going to pay for that wall!

You are being Chicken Little in this regard. Highly unlike you.

But short term for the next few years...I'm hanging onto this and in fact buy more. I worked for them 40 years ago and the folks I worked with are high up the company ladder and this is a solid company. Fits my risk/reward.

No Gamestop's for me!

The Saudi's are a huge player in the market. But if prices move higher....our rig count will go up. Biden has nothing to do with this. I'm not sure why you are assigning the Democrats so much power.

I would hope you adjust your portfolio more than once every 20 years!

Believing that Biden will abruptly shut down the oil industry is the exact same is believing that Trump was going to revive the Coal industry or that Mexico was going to pay for that wall!

You are being Chicken Little in this regard. Highly unlike you.

But short term for the next few years...I'm hanging onto this and in fact buy more. I worked for them 40 years ago and the folks I worked with are high up the company ladder and this is a solid company. Fits my risk/reward.

No Gamestop's for me! Originally Posted by WTF

I've held a few stocks for over 20 years. I have a 35 for 1 return in one and 22 for 1 in another, if I sold today. If you don't value a stock based on future cash flows then you're just buying a piece of paper, or the digital equivalent, instead of a piece of a company. You're buying GameStop. And you can't get to a 21 share price for EPD on, say, the next twenty years free cash flows, if the volumes transported are dropping and the value of the "enterprise" (I'm into puns today) at the end of that time is zero. That would happen in Biden's preferred world, where we go to zero net carbon emissions by 2050. Whether they're bankrupted would be a question mark. They do have 29 billion in debt to service so they'd be in a very difficult situation.

I'm not sure why you are assigning the Democrats so much power. Originally Posted by WTF

Because of the demographic changes occurring in America and the propensity of certain groups to vote for Democrats and to treat climate change as a religion. The Millenials stand out. You have a badly fractured Republican Party. At the national level, the USA could become a one party state.

I think the minimum wage hike was left out of the dimocrat covid relief package wending its way through congress

I think the minimum wage hike was left out of the dimocrat covid relief package wending its way through congress Originally Posted by nevergaveitathought

I know Sanders is demanding it, one way or another. It would not be good for places like Mississippi, where it would put workers out of work and businesses out of business. And it's not an ideal move when the unemployment rate is already high because of Covid. I don't think Manchin will vote for it if it's a stand alone bill. It would hurt West Virginia. The problem is if they stick it in with a lot of other measures, like they were trying to do with the Covid relief package, and also with a few hundred million of pork earmarked for West Virginia, and any other states where they need to buy off the Senators.

Because of the demographic changes occurring in America and the propensity of certain groups to vote for Democrats and to treat climate change as a religion. The Millenials stand out. You have a badly fractured Republican Party. At the national level, the USA could become a one party state. Originally Posted by Tiny

Tiny you are still in the Chicken Little suit.

Did you not see down ballot results?

Do you not understand Trumps challenging of State election results? The repercussions?

States will be able to Jim Crow their way with new election laws to continue to advance big business interests. Trump lost because state election laws will be much more left up to states. You think states will not bow to big business by friendly election laws? Come on Man!

Mitch could not be happier. The GOP is going to wipe the floor with the Dems in 2022. The majority of state Houses are still RED. The GOP will be fine.... the problem might be it is a M Greene GOP. Then they'd be in trouble.