PETROLPHOBIA (Page 53/66) USFiero SEP 04, 11:59 PM Gas is back up near $3.50/gallon for regular again. There is no real reason it should be. 82-T/A [At Work] SEP 05, 08:27 AM quote Originally posted by USFiero: Gas is back up near $3.50/gallon for regular again. There is no real reason it should be. There's a couple of reasons... storms cause disruption in oil production at the refineries and delivery of gasoline after it's been refined. It also creates a shortened delay, followed by an immediate increased demand. There's also the fact that OPEC reduced production by a little more than 1 million barrels a day about a month ago. In addition, as far as I know, Biden stopped releasing oil from the strategic oil reserves. So that would also have the same effect as OPEC reducing by 1 million. But I'd have to look it up... those are the things that I'd point to without having to look it up. 82-T/A [At Work] SEP 06, 08:47 AM quote Originally posted by USFiero: Gas is back up near $3.50/gallon for regular again. There is no real reason it should be. Saw this (below), this morning, and thought it appropriate... Saudi Arabia, Russai Agree to Keep Cutting Oil Production to Keep Prices High Bloomberg: Saudi Arabia and Russia prolonged their unilateral oil supply curbs by another three months, a more aggressive move than traders had been expecting as the OPEC+ members seek to support a fragile global market. The leader of the Organization of Petroleum Exporting Countries will continue its production cutback of 1 million barrels a day until December, according to a statement published by the state Saudi Press Agency on Tuesday. The move will hold output at about 9 million barrels a day — the lowest level in several years — for six months in total. Russia’s export reduction of 300,000 barrels a day will be extended for the same duration (Bloomberg). CBS: Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices (Twitter). CNN: Brent crude, the global benchmark, gained 1.8% to trade above $90 a barrel, while West Texas Intermediate (WTI), the US benchmark, rose by a similar margin to $87 a barrel. Saudi Arabia needs Brent crude to trade at around $81 a barrel in order to balance its budget, according to the International Monetary Fund. The kingdom slipped into a budget deficit this year after reporting a surplus in 2022 for the first time in almost a decade (CNN). ray b SEP 07, 10:54 AM told you guys oil was cheap at 69 saudi and putin both like the rump fredtoast SEP 07, 08:41 PM quote Originally posted by USFiero: Gas is back up near $3.50/gallon for regular again. There is no real reason it should be. Oil and gas companies are raping consumers as hard as they can while they have Fox News running cover for them by blaming Biden Marathon Petroleum gross profit for the twelve months ending June 30, 2023 was $23.355B, a 26.33% increase year-over-year. APA gross profit for the twelve months ending June 30, 2023 was $7.651B, Hess net income for the twelve months ending March 31, 2023 was $2.025B, a 179.7% increase year-over-year. Ovintiv net income for the twelve months ending June 30, 2023 was $3.344B, a 37.73% increase year-over-year. Devon Energy gross profit for the twelve months ending June 30, 2023 was $14.146B, EOG Resources gross profit for the twelve months ending June 30, 2023 was $25.929B, a 16.8% increase year-over-year. Occidental Petroleum gross profit for the twelve months ending June 30, 2023 was $20.054B, ConocoPhillips gross profit for the twelve months ending June 30, 2023 was $39.964B, USFiero SEP 07, 09:09 PM Having an administration end leases on public land doesn't help. $90 a barrel is unnecessary when domestic availability is plentiful. Buying expensive oil from countries that hate us is terrible all around. ray b SEP 07, 11:57 PM quote Originally posted by USFiero: Having an administration end leases on public land doesn't help. $90 a barrel is unnecessary when domestic availability is plentiful. Buying expensive oil from countries that hate us is terrible all around. maybe 1% that vs 10% saudi last cut +5%putin plus real world stuff another 10% so bash joe for the 1% say NOTHING about the reals stuff that is 25 times as BIG so very very Gop maga of you fredtoast SEP 08, 08:31 AM quote Originally posted by USFiero: Having an administration end leases on public land doesn't help. It actually makes no difference at all because an overwhelming majority of US domestic oil leases are on private land. In fact when Biden took that action the price of oil continued to DROP for several months. This is just more proof that the oil companies are getting away with screwing over consumers because the right-wing media is trying to blame Biden. ray b SEP 08, 09:25 AM quote Originally posted by fredtoast: Oil and gas companies are raping consumers as hard as they can while they have Fox News running cover for them by blaming Biden Marathon Petroleum gross profit for the twelve months ending June 30, 2023 was $23.355B, a 26.33% increase year-over-year. APA gross profit for the twelve months ending June 30, 2023 was $7.651B, Hess net income for the twelve months ending March 31, 2023 was $2.025B, a 179.7% increase year-over-year. Ovintiv net income for the twelve months ending June 30, 2023 was $3.344B, a 37.73% increase year-over-year. Devon Energy gross profit for the twelve months ending June 30, 2023 was $14.146B, EOG Resources gross profit for the twelve months ending June 30, 2023 was $25.929B, a 16.8% increase year-over-year. Occidental Petroleum gross profit for the twelve months ending June 30, 2023 was $20.054B, ConocoPhillips gross profit for the twelve months ending June 30, 2023 was $39.964B, I wonder how much tax was paid on all that profit I bet not much as oil corp have far more tax dodges then the rump does and like the big rump big oil DON'T PAY MUCH TAX 82-T/A [At Work] SEP 08, 10:05 AM quote Originally posted by fredtoast: It actually makes no difference at all because an overwhelming majority of US domestic oil leases are on private land. In fact when Biden took that action the price of oil continued to DROP for several months. This is just more proof that the oil companies are getting away with screwing over consumers because the right-wing media is trying to blame Biden. You have absolutely no background AT ALL in oil exploration and extraction knowledge, or anything even remotely on this topic. You've been smacked down repeatedly before on here, to which point you scurry away. Repeating an old argument, hoping that people won't go through the effort to disprove your nonsense every time you do it... does not somehow make what you say suddenly true. I encourage you to go back through this entire thread, and others, where people who have actually worked in the oil industry schooled you previously.