OPEC plus 1= a whole lotta pain

so you're telling me that proximity even in global markets doesn't matter?

Then why the fuck all these pipelines needing to be installed?

Who do pipelines help? Owners or consumers and if so at what %?

It's my understanding the in a perfect economy without constraints on shipping or transportation, then yes an increase on supply directly will reduce costs once the saturation point hits. However, until that time and with the increase of transportation costs and delays- it most certainly has an effect on prices. The whole notion that you turn on more oil and prices go down is not as simple as 1+2=3. It's the elasticity of markets and nuances around supply demand curves that every republican refuse to address. Maybe it's because they don't understand it; But a simple example of it is the change-over of summer blends and how prices spike, despite a constant supply of oil to refine. Or that markets are driven by other content besides just supply- such as politics and scare-mongering.

But I'll leave it with just this- Prices go up when a supplier decides not to sell at too low a price as to what they need or perceive as the value on limited-resource or uncommon commodities. Combine that with the fact that refinery capacity has been on a downturn over the past few years for a variety of reasons including hurricanes; *climate issues have real consequences with the resulting hurricanes being more devastating.

Here's an interesting link on refining capacity- and it looks like it won't get better in the short term either.

https://www.spglobal.com/commodityin...ord-prices-eia

Of course, most intelligent people understand that the real price fixers are OPEC. They meet the classic definition of a cartel. In case you didn't read (and understand) the OP, this cartel just got together and agreed to cut their members' output by 2 million bpd in an effort to keep global crude prices high.

Are they being greedy? Why aren't you whining about OPEC's greed?

By the way, I'm still waiting for you to explain why Biden wants to lift sanctions on your socialist buddy Maduro in Venezuela, instead of encouraging more oil production at home. Originally Posted by lustylad

Indeed they are Cartels. They don't even hide that shit, and when OPEC formed, they became the worlds biggest cartel of oil drinking populus. Thank the fine folks at Texaco for introducing them to all the oil underneath them. It seems to me that while we play by the rules of open markets, that we are really the only ones. We should be ass fucking those oil barons whenever we can- but they don't need us unless they are being attacked by a bunch of other arabs. The fact we don't leverage them with that is absurd. If it was me; I'd tell Saudi's to suck ass next time someone is blowing up shit locally -we'll deal with whomever wins and then charge them protection money in the form of oil. Simple. But we don't. We are globally easy roll overs, till we stop rolling over.


I know you didn't ask me Lusty- but we are only interested in Venezuala oil till we find a better cheaper source- but cannot because they have such a horrible record of humanitarian issues; we don't want to give money or better, give the impression of caving into the country where so many ppl are fleeing because of it's miss-treatment of citizens. That place is just a shop of horrors due to Maduro and his regime.

I know you didn't ask me Lusty- but we are only interested in Venezuala oil till we find a better cheaper source- but cannot because they have such a horrible record of humanitarian issues; we don't want to give money or better, give the impression of caving into the country where so many ppl are fleeing because of it's miss-treatment of citizens. That place is just a shop of horrors due to Maduro and his regime. Originally Posted by eyecu2

And yet Senile Biden is bending the knee to Maduro and Venezuela, financing authoritarian communism in our own hemisphere to get Maduro’s oil before midterms instead of encouraging more oil production at home and putting US employees to work.

If Senile Biden had not started his unhinged extremist war on US Oil & Gas, he wouldn't have to offer to blow Maduro after being fucked in the ass by the Saudi's while begging for oil before the midterms in a brazen attempt to buy votes

Former Obama economic adviser Larry Summers: Senile Biden "made a mistake by canceling the Keystone pipeline," "slowing down all kinds of permitting," and "being hostile" to "natural gas"

Even his fellow libtards are calling out Senile Biden for being a fucking idiot

Watch

https://twitter.com/i/status/1578582468877238272

And yet Senile Biden is bending the knee to Maduro and Venezuela, financing authoritarian communism in our own hemisphere to get Maduro’s oil before midterms instead of encouraging more oil production at home and putting US employees to work.

If Senile Biden had not started his unhinged extremist war on US Oil & Gas, he wouldn't have to offer to blow Maduro after being fucked in the ass by the Saudi's while begging for oil before the midterms in a brazen attempt to buy votes Originally Posted by berryberry

He's got little choice to get oil flowing from existing sources. Maduro should be sucking Joe's Johnson, but to your other points, yes the folks at OPEC have bent Biden over and are trying to create a method of impact for both increased profits and perhaps election outcomes. Fucking cocksuckers in OPEC ...there will be a day in the next 10 years when they will need out help...perhaps sooner with Iran getting close to having nukes. No joke. But you're right here BX2.

Former Obama economic adviser Larry Summers: Senile Biden "made a mistake by canceling the Keystone pipeline," "slowing down all kinds of permitting," and "being hostile" to "natural gas"

Even his fellow libtards are calling out Senile Biden for being a fucking idiot

Watch

https://twitter.com/i/status/1578582468877238272 Originally Posted by berryberry

It was killed by it's owner, by help of legislation blocks. That's the issue with pipeline owners. Rarely do they do things for consumers benefit., it's always for shareholders and profits. Plus they were only about 6-9 % completed ...even if it was greenlighted from day 1, it still wouldn't be done. Similar story to the mountain pipeline. Too much politics in energy in general. I don't be grudge profits for capitalist products, but the oil and gas industry are gun shy after all the losses and consolidation from 2010 through 2017. Is more or less regulation the answer? Windfall profits of one or two companies that own a pipeline, could really hold an entire country in economically hostage if they so choose. Other energy companies such as electrical power are regulated to what they can charge, it may be time for those companies that own large Transit pipelines to be regulated more so

... "DRILL MATES DRILL!" --- THAT is the answer.

Get back to DRILLING here in the US. ...

#### Salty

... "DRILL MATES DRILL!" --- THAT is the answer.

Get back to DRILLING here in the US. ...

#### Salty Originally Posted by Salty Again

6000 open permits to drill.

Clearly, oil producers aka drillers do not agree with you.

Why is that?

Cause they don't want to sink money down a hole when the market is fluctuating, and the public desires cheap gas n oil.

Oil companies want profits from expensive gas n oil.

Unless the price of oil stabilizes above 90-100 a barrel, I doubt you'll see much drilling due to high interest rates & favorable economics. Most are buying back shares of stock right now vs expanding exploration and production.

Open leases is a bullshit talking point to deflect blame.

https://www.api.org/news-policy-and-...-unused-leases

LOL!

Open leases is a bullshit talking point to deflect blame.

https://www.api.org/news-policy-and-...-unused-leases Originally Posted by Jacuzzme

It is indeed. Just another example of Senile Biden and his libtard cronies counting on their libtard voters to be dumb and ill informed. They count on being able to tell the libtard voters lies and bullshit like this open leases lie and have them not only believe it but to repeat it to others.

Here's the crux of the entire reality and remember the API represents oil and gas producers.

"Ultimately, energy policies affect the energy investment climate. Specifically, they impact the ability of producers – typically accountable to shareholders – to take the risks involved in spending billions of dollars to find and develop oil and gas. "

Further they go on to suggest that exports of oil and gas are super important to other countries to allow them to have alternatives, but does that necessarily mean it's good for consumers domestically? If the owners of an oil or gas production company can make more money selling their product overseas versus domestically, they're going to do it. Simply put taking any commodity and making it globally accessible will create a higher price domestically, if the global price is higher than the domestic price; which it is in the case of things like natural gas. For example propane is about eight times more expensive in Japan than it is here. While these exports might mitigate and lower prices globally, it's done at the expense increasing domestically. You guys who think that drilling and producing oil and gas will change the outcome are just poorly informed. The time lag for producing wells is usually years, which is why the Biden administration, which has only been on place for less than 2, cannot have caused wells to stop. They didn't tell any company to stop drilling or not to produce the wells that are being produced. The economics and choice to not drill have been made by the companies and their shareholders who want fiscal conservatives approaches so they don't become one more company to go bankrupt. The article you cited is pure propaganda for oil companies who disguise profits (and they are killing it right now), as we can't produce more. The politicians are not letting us.

Bullshit. It's the whole reason that leases are 10 years or longer...the actual decisions and planning can take years, so any production happening now/ or not happening now was the result of prior years planning.

Except that’s bullshit because it’s a futures market. Opening up, or even planning to open up, production effects pricing today regardless of if it’s actually in a pipeline.

LOL - Senile Biden and the libtards exposed again

Wall Street Journal - U.S. Officials Asked Saudi Arabia to Delay OPEC+ Production Cut for a Month (you know, until right after the midterms)

What fucking clowns Senile Biden and the libtards in DC are. And yet you have morons still lapping up their bullshit