Oil Production Coming Up

[togor]

https://www.eenews.net/articles/just-how-much-oil-can-the-u-s-pump/

Good story with detail. Not some stilly political rant.

[Johnny P]

The oil producers don't remember Slo Joe as being particularly friendly to them. Had he left the Keystone pipeline alone it would be supplying oil today, but he let his environmentalist friends run the show for him.

[dryheat]

So, if I've got it right; we have plenty of oil, but we shouldn't use it because it wouldn't be nice, but we should export it to other countries because...they aren't nice and that's OK so long as we make money.
Sounds like a Bare Naked Ladies tune.

[Major Tom]

Delaware Joe said he wants to "save" our oil for the future. That's a good one, ha ha!

[togor]

Seventh paragraph in. Not too far really:

"Demand almost always acts faster than supply," said Daniel Klein, who tracks the industry at S&P Global Platts. "You can't slam on the brakes as hard as we did [in 2020] and expect supply to come back as quickly as it came off. There are more speed bumps on supply than there are on demand."

In other words, gratuitous bitching about Biden might make people feel better but it won't change the reality. Production was slashed while Trump was President, remember.

[RED]

Complete bull hockey. Biden cut the oil production by cutting the number of oil producing rigs from 800 to 519.

[Quote] The number of American oil rigs has increased steadily since July 2020, when the country reached a low of 172. The 519 rigs recorded last week was up from 480 rigs the first week of the year. By comparison, the United States had more than 800 rigs in the field in 2019. [Quote]


So now the propaganda is saying Biden increased oil production. Twist and turn?

[togor]

Biden cut them by executive order or the industry chose to stop operating them at a loss? Since you can produce no executive order, we will give it to industry.

Your mistake, which you will keep on making, is putting everything that happens in the country--in the whole world even--on the President at the time. Odd move for a supposedly small government conservative, but there you are.

Well, not everything--Trump only gets your credit and Biden only gets your blame.

[Johnny P]

The oil producers don't seem to agree:

Mr. Biden has limited U.S. oil production by issuing a slew of executive orders prioritizing climate change over the American energy industry.
Jason Mogdin, president of the Texas Alliance of Energy Producers, said the administration’s policies have hamstrung U.S. oil production, sending gasoline prices north by reducing supply.

[togor]

The oil producers don't seem to agree:

Mr. Biden has limited U.S. oil production by issuing a slew of executive orders prioritizing climate change over the American energy industry.
Jason Mogdin, president of the Texas Alliance of Energy Producers, said the administration’s policies have hamstrung U.S. oil production, sending gasoline prices north by reducing supply.

If by "hamstrung" he means cracking down on methane leaks, to which the Trump administration foolishly chose to turn a blind eye, then I guess some operations might be hamstrung. Guilty as charged. But surely you don't take the position that the extractive industries should face no environmental regulations do you?

Don't rural folk have enough on their plate without corporations trashing the very land itself on the road to huge profits?

[Johnny P]

So you disagree with what the oil producers say in light of what "Spot", Biden's spoke person says? "Spot" also points to the fact that there are 9000 leases sitting out there. An oil lease doesn't guarantee an oil well. In the past I have sold oil leases, some for the second time, and there isn't an oil well anywhere close yet and the leases have run out.

[togor]

So you disagree with what the oil producers say in light of what "Spot", Biden's spoke person says? "Spot" also points to the fact that there are 9000 leases sitting out there. An oil lease doesn't guarantee an oil well. In the past I have sold oil leases, some for the second time, and there isn't an oil well anywhere close yet and the leases have run out.

You're quoting an unspecific comment from an industry association. I've told you what my guess is, that he's arguing against methane leak regs.

If you were in the oil biz then you have a financial incentive to make as much money as you can, and not let any crisis go to waste.

The fact that we're still fighting about oil tells me we need to get serious about doing nuclear power properly. Windmills and solar cells have their place but not as base load units.

Put another way....nuclear power, nuclear war....pick one.

[RED]

So now methane leaks are Trumps doing.

Total propaganda.

[Quote] between 2009 and 2015, oil and gas producers on public and Indian lands vented, flared and leaked about 462 billion cubic feet of natural gas?enough gas to supply about 6.2 million households for a year. Estimated losses to the taxpayers in royalties ranged from $23 million to nearly $60 million annually.[Quote]

Bidens strict rules are choking America
and are laughed at and ignored by Russia, China, and India who are the source of 10X the amounts leaked in the USA.

Old uncapped and unused wells are a big source and Bidens executive orders largely ignore them.

Blame everything on Trump. That?s the plan. If a large asteroid crashes into earth in the year 3033, it will be Trumps doing.

[Johnny P]

You're quoting an unspecific comment from an industry association. I've told you what my guess is, that he's arguing against methane leak regs.

If you were in the oil biz then you have a financial incentive to make as much money as you can, and not let any crisis go to waste.

The fact that we're still fighting about oil tells me we need to get serious about doing nuclear power properly. Windmills and solar cells have their place but not as base load units.



Put another way....nuclear power, nuclear war....pick one.

Your opinion is much more knowledgeable than than someone from the oil industry? Biden think?

Nothing was said about nuclear energy not being the way to go. The corporation I worked for and retired from operates 7 nuclear generating plants. There probably won't be any more for the foreseeable future, but what does this have to do with war?

[togor]

We're in an economic war with a country that until recently supplied 20% of the world's petroleum. Disrupting 20% of the supply is gonna leave a mark somewhere.

People complain about regulations on producers, like methane leaks. Methane is potent greenhouse gas.

So petroleum is a cause, and a symptom, of the current problems. Get free of petroleum and foreign producers have less leverage over us. Nuclear power + electric vehicles reduce petroleum demand.

For RED:

https://www.npr.org/2020/08/13/901863874/trumps-methane-rollback-that-big-oil-doesn-t-want

Biden reversed this.