Looks like the auto makers are having a price war over EVs.
Some think price will drop to $18,000.
- dilbert firestorm
- 06-06-2022, 12:29 PM
- WTF
- 06-06-2022, 01:20 PM
i dont need to load up on energy stocks, you imbecileYou think oil prices are up because of Democrats attack on oil?
and out of bidens own mouth
he views high energy prices as good and necessary
“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,”
and it wasnt reopening the economy that caused prices to shoot up
and specifically oil prices are up due, in most part, to dimocrat attacks on oil
and yes, they, on one hand, for political purposes, now decry inflation, while truly they use it to further their goals
at one time their inflation was fine and a "wealthy person's problem"
you are and have been a blind little cave dweller; a mole, who squinches his eyes closed at the light Originally Posted by nevergaveitathought
No wonder all you silly fuckers are down in the market.
The DEMAND is up and will increase even more now that China is opening back up.
Let me explain to you that Biden is making the energy sector in this country a ton of money. If that is how his and the Democrats attacks are working out....I hope he attacks'em more!
I started a thread about energy independence and was actually shocked at how little most know about worldwide energy flows.
Fuc...I'm no expert but most sounded like they'd have a hard time pumping their own gas much less having an intelligent discussion about it.
- WTF
- 06-06-2022, 01:22 PM
- royamcr
- 06-06-2022, 04:48 PM
I'm not debating your facts. I'm debating whether Trump had anything to do with the price.Keystone XL was a nothingburger for at least the next 2-3 years if not more. Has no bearing on the prices today.
Biden fucked up on Keystone, but.. Realistically we would still be paying close to $4 a gallon if Keystone had not been blocked. There are many factors you choose to ignore, or not understand. Originally Posted by Chung Tran
- WTF
- 06-06-2022, 06:14 PM
Keystone XL was a nothingburger for at least the next 2-3 years if not more. Has no bearing on the prices today. Originally Posted by royamcrCorrect.....plus they still bring that crappy oil down here to refine by rail.
What would have been nice is if we'd had refineries that match up to the light crude we've extracted the last 12 years
- 69in2it69
- 06-06-2022, 06:26 PM
Correct.....plus they still bring that crappy oil down here to refine by rail.
What would have been nice is if we'd had refineries that match up to the light crude we've extracted the last 12 years Originally Posted by WTF
Wait to hear them complain when a hurricane takes out a refinery. Almost no knowledge of what's going on in the energy sector...but probably still finding nickles to send to the (D)ump fund.
This shit ain't going to change for a while, regardless of who's in office. Cheap gas in 2020? I'm sure the fact that was being produced and stored BEFORE the pandemic shut down almost all demand had nothing to do with that. I think it had to do with boys looking at girls looking at social media and not having the space lasers pointed at them. Y'all proud over there in Georgia?
- WTF
- 06-07-2022, 10:43 AM
Maybe they will trade in their SUV's for bicycles
- texassapper
- 06-08-2022, 06:52 AM
- WTF
- 06-08-2022, 07:14 AM
Your hair is blond? I thought it would be darker...
- nevergaveitathought
- 06-09-2022, 08:26 AM
biden just signed a new executive order in an effort to assuage american's over the price of a gallon of gas
"be it hereby known and totally obeyed from this moment hence
to wit: in the interest, first and foremost, of equity and anti-racism, and to level all outcomes to a certitude of evenness
it is now the order that all advertisements for the sale of gasoline and diesel fuel and all gas pumps (and diesel pumps, as the case may be) be calibrated for the sale of gasoline and the aforementioned diesel fuel in terms of liters instead of gallons, as, for example, 3.875 liters of gasoline for 5 dollars sounds better than 1 gallon of gasoline for 5 dollars
anything in this order shall be broadly construed to cover all liquid petroleum or fossil fuel products whether expressly mentioned or not that are generally sold to the american consumer
merrick garland will prosecute and the fbi will round up all disobeyers under domestic terrorism laws"
signed joe biden by his proxy
"be it hereby known and totally obeyed from this moment hence
to wit: in the interest, first and foremost, of equity and anti-racism, and to level all outcomes to a certitude of evenness
it is now the order that all advertisements for the sale of gasoline and diesel fuel and all gas pumps (and diesel pumps, as the case may be) be calibrated for the sale of gasoline and the aforementioned diesel fuel in terms of liters instead of gallons, as, for example, 3.875 liters of gasoline for 5 dollars sounds better than 1 gallon of gasoline for 5 dollars
anything in this order shall be broadly construed to cover all liquid petroleum or fossil fuel products whether expressly mentioned or not that are generally sold to the american consumer
merrick garland will prosecute and the fbi will round up all disobeyers under domestic terrorism laws"
signed joe biden by his proxy
- WTF
- 06-09-2022, 09:03 AM
That was weak af
- Austin Ellen
- 06-09-2022, 10:08 AM
No they would not. I'll let you guess why. I'll give you a clue - it has to with Saudi Arabia. The country that Biden will be visiting to beg for more gas after he trashed the place for being murderers.
You got shorn like a Sheep. I paid $1.31 during Trump's final year. Of course the economy was shit.
The debate is meritless. If Trump was President today, gas prices would be very high. They are high all around the World. Originally Posted by Chung Tran
- Tiny
- 06-09-2022, 10:30 AM
This article is kind of weak. They fail to note Biden's campaign promise, which he broke, to end drilling on federal leases. Or the campaign promises of Progressive presidential candidates like Bernie Sanders and Elizabeth Warren to shut down hydraulic fracturing immediately.
Why Energy Companies Won’t Produce
They expect the war on fossil fuels to resume when the current crisis ends.
By Wayne Stoltenberg and Merrill Matthews
President Biden has urged oil and natural-gas companies to ramp up production, and you’d think, given the current high prices, that it would be in their interest to do so. But the industry has been slow to respond, with some justification. Companies expect that as soon as the current turmoil subsides, the Biden administration will shift back to hostile rhetoric, anti-energy legislative proposals, and oppositional regulatory policies.
Oil and gas prices on the New York Mercantile Exchange are at five-year highs. But many publicly traded producers are pursuing a strategy that looks like “orderly liquidation”—only maintaining or modestly increasing production volumes. Meanwhile, they are returning significant cash to shareholders in dividends and share repurchases.
Devon Energy recently issued guidance for 2022 that refers to capital spending in the range of $1.9 billion to $2.2 billion on new-well drilling and completing activity, and a production target of 570,000 to 600,000 barrels of oil equivalent a day. That’s a modest increase in capital spending, from $1.85 billion in 2021, and a modest decrease in production, from 611,000 in the fourth quarter of 2021. Devon also anticipates increased cash returns to shareholders for 2022.
Like many in the industry, Devon obviously believes it’s better to return capital to its shareholders than to reinvest in the business. The reason is the left’s incessant demonizing of the fossil-fuel industry, leading to near pariah status, which has succeeded in driving capital away from the industry. Small and midsize producers rely more on outside capital than larger companies such as Exxon to increase their production.
Last September, 20 House Democrats introduced the Fossil Free Finance Act, which would require the Federal Reserve Bank to take steps to stop banks from investing in fossil-fuel production. The bill’s goal was “no financing of new or expanded fossil fuel projects after 2022,” the Naderite group Public Citizen noted approvingly.
Then there’s the harping about excessive profits, which led Sen. Elizabeth Warren to propose a new tax. “The oil companies need to understand that the benefits of price gouging will be sharply undercut by a tax that’s not across the board, but instead is a tax on how their profits increase during this short-term crisis,” she declaimed.
There was a time when most people understood that if you want less of something, tax it, and if you want more, subsidize it. Even though Democrats’ more radical legislation is unlikely to pass, the message to participants in the highly regulated financial markets is clear: We want to see less, not more, capital flowing to domestic oil and gas production.
Unsurprisingly, many larger intuitional investors have heard the message and are touting their support for clean energy and opposition to fossil-fuel production.
Oil and gas producers are subject to many of the same supply-chain roadblocks and price increases that hinder other industries. If they can’t find willing long-term capital providers, it is difficult for them to ramp up production. And they can’t find that funding primarily because they’ve been the target of a multiyear mission to defund and destroy the industry.
If investors and producers are acting as though they don’t hear the current administration’s demands for more drilling now, it’s in large part because they heard their condemnations for drilling in the past.
Why Energy Companies Won’t Produce
They expect the war on fossil fuels to resume when the current crisis ends.
By Wayne Stoltenberg and Merrill Matthews
President Biden has urged oil and natural-gas companies to ramp up production, and you’d think, given the current high prices, that it would be in their interest to do so. But the industry has been slow to respond, with some justification. Companies expect that as soon as the current turmoil subsides, the Biden administration will shift back to hostile rhetoric, anti-energy legislative proposals, and oppositional regulatory policies.
Oil and gas prices on the New York Mercantile Exchange are at five-year highs. But many publicly traded producers are pursuing a strategy that looks like “orderly liquidation”—only maintaining or modestly increasing production volumes. Meanwhile, they are returning significant cash to shareholders in dividends and share repurchases.
Devon Energy recently issued guidance for 2022 that refers to capital spending in the range of $1.9 billion to $2.2 billion on new-well drilling and completing activity, and a production target of 570,000 to 600,000 barrels of oil equivalent a day. That’s a modest increase in capital spending, from $1.85 billion in 2021, and a modest decrease in production, from 611,000 in the fourth quarter of 2021. Devon also anticipates increased cash returns to shareholders for 2022.
Like many in the industry, Devon obviously believes it’s better to return capital to its shareholders than to reinvest in the business. The reason is the left’s incessant demonizing of the fossil-fuel industry, leading to near pariah status, which has succeeded in driving capital away from the industry. Small and midsize producers rely more on outside capital than larger companies such as Exxon to increase their production.
Last September, 20 House Democrats introduced the Fossil Free Finance Act, which would require the Federal Reserve Bank to take steps to stop banks from investing in fossil-fuel production. The bill’s goal was “no financing of new or expanded fossil fuel projects after 2022,” the Naderite group Public Citizen noted approvingly.
Then there’s the harping about excessive profits, which led Sen. Elizabeth Warren to propose a new tax. “The oil companies need to understand that the benefits of price gouging will be sharply undercut by a tax that’s not across the board, but instead is a tax on how their profits increase during this short-term crisis,” she declaimed.
There was a time when most people understood that if you want less of something, tax it, and if you want more, subsidize it. Even though Democrats’ more radical legislation is unlikely to pass, the message to participants in the highly regulated financial markets is clear: We want to see less, not more, capital flowing to domestic oil and gas production.
Unsurprisingly, many larger intuitional investors have heard the message and are touting their support for clean energy and opposition to fossil-fuel production.
Oil and gas producers are subject to many of the same supply-chain roadblocks and price increases that hinder other industries. If they can’t find willing long-term capital providers, it is difficult for them to ramp up production. And they can’t find that funding primarily because they’ve been the target of a multiyear mission to defund and destroy the industry.
If investors and producers are acting as though they don’t hear the current administration’s demands for more drilling now, it’s in large part because they heard their condemnations for drilling in the past.
- Tiny
- 06-09-2022, 12:30 PM
- WTF
- 06-09-2022, 01:04 PM
If you believe that nonsense, you haven't done the proper research.
The left can cackle all they want about green energy and you can point fingers as to the reason why we haven't been drilling but the simple reason is they are making a pile of money and as the saying goes, you make hay while the sun is shining.
Our oil industry was shown who the real players were in 2020 when they bankrupt damn near the lot of us. They brought ExxonMobil to their knees.
Biden has been a God send to our energy companies.....they can blame him for their frankly very savvy business decision to play this out.
Had Russia not invaded Ukraine, oil's be clipping along around 80-90 dollars.
Enough of the Chicken Little threads blaming Biden...The Saudi's and Russians are loving this...except for all the dead Russians in Ukraine!
The left can cackle all they want about green energy and you can point fingers as to the reason why we haven't been drilling but the simple reason is they are making a pile of money and as the saying goes, you make hay while the sun is shining.
Our oil industry was shown who the real players were in 2020 when they bankrupt damn near the lot of us. They brought ExxonMobil to their knees.
Biden has been a God send to our energy companies.....they can blame him for their frankly very savvy business decision to play this out.
Had Russia not invaded Ukraine, oil's be clipping along around 80-90 dollars.
Enough of the Chicken Little threads blaming Biden...The Saudi's and Russians are loving this...except for all the dead Russians in Ukraine!