PETROLPHOBIA (Page 54/66)
cliffw SEP 08, 10:58 AM

quote
Originally posted by 82-T/A [At Work]:
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.



I am retired oil field. You are right Todd, he has no clue about it. I don't think he has a clue about much of what he says.



quote
Originally posted by fredtoast:
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,



Interesting. Big Bad Oil made more profit because of the price increases Biden facilitated. There is a profit in every dollar earned. Oil ore not. Record gas prices, record profit.
fredtoast SEP 08, 11:36 AM

quote
Originally posted by 82-T/A [At Work]:
You have absolutely no background AT ALL in oil exploration and extraction knowledge, or anything even remotely on this topic..


I know more than you. In fact you were one of the people who tried to claim that oil prices started rising as soon as Biden cancelled the lease on public lands when in fact the continued to drop for months.

You also thought that the Keystone XL pipeline had something to do with domestic oil production instead of just allowing Canada to sale shale oil to China

You also thought that the ANWR oilfields in Alaska were already producing before Biden "shut them down".

You also thought that if the US was "energy independent" then we would be paying less for gasoline because domestic oil companies don't charge based on the world market price of oil.

And you also claimed that Biden "kneecapped' the oil companies when in facts they are doing better under his administration than under Trumps.

So if you want to go back to that thread I will be happy to go over all the ways I corrected you.
fredtoast SEP 08, 11:39 AM

quote
Originally posted by cliffw:


Interesting. Big Bad Oil made more profit because of the price increases Biden facilitated.



Biden did not facilitate the price increase. The price increase is based on the world wide cost of oil, and Biden does not control that.
cliffw SEP 09, 08:34 AM

quote
Originally posted by fredtoast:
I know more than you. In fact you were one of the people who tried to claim that oil prices started rising as soon as Biden cancelled the lease on public lands when in fact the continued to drop for months.



Of course you know more. You told us so. FACT ! I would want a lawyer who had common sense.

Oh "know all" tell us why oil prices continued to drop ?


quote
Originally posted by fredtoast:
You also thought that the Keystone XL pipeline had something to do with domestic oil production instead of just allowing Canada to sale shale oil to China



No, he did not. Link ?


quote
Originally posted by fredtoast:
You also thought that the ANWR oilfields in Alaska were already producing before Biden "shut them down".



They were. Do you have a link ? What are you trying to imply ?


quote
Originally posted by fredtoast:
You also thought that if the US was "energy independent" then we would be paying less for gasoline because domestic oil companies don't charge based on the world market price of oil.



No, he did not. Link ?


quote
Originally posted by fredtoast:
And you also claimed that Biden "kneecapped' the oil companies when in facts they are doing better under his administration than under Trumps.[quote]

Biden's oil policies is kneecapping the oil companies, and US citizens. Of course you can't understand the trickle down theory.

[QUOTE]Originally posted by fredtoast:
So if you want to go back to that thread I will be happy to go over all the ways I corrected you.



Yes ! I want to go for a ride on the magical mystery tour.
fredtoast SEP 09, 11:46 AM

quote
Originally posted by fredtoast:

You also thought that the ANWR oilfields in Alaska were already producing before Biden "shut them down"..





quote
Originally posted by cliffw:

They were. Do you have a link?



No they were not.

https://www.wbur.org/cognos...nge-frederick-hewett

There has been no drilling in ANWR except for a single test well in 1986.

And there you have it folks. The self proclaimed expert on all thing oil related because he twisted a wrench on an oil derrick at one time.

He doesn't have a clue what he is talking about.

[This message has been edited by fredtoast (edited 09-09-2023).]

fredtoast SEP 09, 11:58 AM

quote
Originally posted by cliffw:


Oh "know all" tell us why oil prices continued to drop ?





The price continued to drop after Biden took office because the demand was still low. The world was still dealing with the Covid slow down. When the worldwide demand started ratcheting up in April/May oil prices started surging.

It did not just happen in the United States. It was not based on anything Biden did.
82-T/A [At Work] SEP 09, 10:16 PM

quote
Originally posted by fredtoast:

I know more than you.



Ok, let's end this right here. You do not. You have, what... a bachelors degree? I've got like 7 friggin' degrees Fred... the lowest grade I ever graduated with in any of those degrees was a 3.94 GPA. Two of them are engineering degrees, a law degree, a CompSci, and several others. So please... Fred... you're low on the totem-pole here. Everyone else in this group is pretty highly educated.



quote
Originally posted by fredtoast:
In fact you were one of the people who tried to claim that oil prices started rising as soon as Biden cancelled the lease on public lands when in fact the continued to drop for months.



The price of a gallon of gas has gone up exponentially since Biden took over, and it IS in fact because of all the executive orders he passed. What you do not understand is that oil speculation causes oil to go up sharply, immediately... and it takes a significantly longer time for the price of oil to go back down.



quote
Originally posted by fredtoast:
You also thought that the Keystone XL pipeline had something to do with domestic oil production instead of just allowing Canada to sale shale oil to China



LOL, Fred... I never said this. Please show me where I said this. What I said is that the Keystone XL pipeline would have reduced the cost of oil because it would have provided oil directly to refineries where it would have been sold on the international market... which YES... does reduce the cost of domestic gasoline because there's MORE oil available globally, which drives down demand. It's not just China, Fred.



quote
Originally posted by fredtoast:
You also thought that the ANWR oilfields in Alaska were already producing before Biden "shut them down".



They were under Bush for a very short period of time in 2006. It was cancelled almost immediately under Obama. Never restarted under Trump, though there were oil leases, sold, and subsequently cancelled under Biden.... https://www.eia.gov/analysi...08/anwr/results.html



quote
Originally posted by fredtoast:You also thought that if the US was "energy independent" then we would be paying less for gasoline because domestic oil companies don't charge based on the world market price of oil.



Fred... "Energy Independent" means that the United States buys it's own oil production, so it doesn't NEED to purchase it from Iran. Countries buy oil from OIL PRODUCERS. When the United States was "energy independent," it meant that WE could produce oil more cheaply than it would cost to have it shipped from Iran or Russia, while still selling our oil in the global market. More than half the refineries are in the United States, so some countries will still ship oil here to be refined into gasoline (or other products) anyway... but yes, when oil can be produced more cheaply here in the United States... we no longer have to buy the oil that comes from Russia and Iran domestically because it will cost MORE. Do you think Saudi Arabia imports US oil?

Like, what's so ridiculous here is that you think you're making a point... because if you go back and read all of the threads, it was YOU who didn't know that oil is sold on a global market.



quote
Originally posted by fredtoast:
And you also claimed that Biden "kneecapped' the oil companies when in facts they are doing better under his administration than under Trumps.



Lol, Fred... the dollar is worth 30%-35% less than it was just 3 years ago. You still don't get it.



quote
Originally posted by fredtoast:So if you want to go back to that thread I will be happy to go over all the ways I corrected you.



Even when you think you're being clever, you dig yourself into a deeper hole... unbelievable. Are you a narcissist? Do you actually believe your own lies?

[This message has been edited by 82-T/A [At Work] (edited 09-09-2023).]

fredtoast SEP 10, 10:41 AM

quote
Originally posted by 82-T/A [At Work]:

The price of a gallon of gas has gone up exponentially since Biden took over, and it IS in fact because of all the executive orders he passed. What you do not understand is that oil speculation causes oil to go up sharply, immediately... and it takes a significantly longer time for the price of oil to go back down.




No. You are wrong. The increase in price had nothing to do with the cancelling of the leases. That is why prices did not go up "sharply, immediately" when he did it. Your own assessment of the situation proves that you are wrong. Prices did not rise until months later when the world wide demand for oil started to increase significantly.

I have facts and numbers on my side. All you have is "It is true because I say so", and that argument is meaningless.
fredtoast SEP 10, 10:43 AM

quote
Originally posted by 82-T/A [At Work]:

Ok, let's end this right here. You do not. You have, what... a bachelors degree? I've got like 7 friggin' degrees Fred... the lowest grade I ever graduated with in any of those degrees was a 3.94 GPA. Two of them are engineering degrees, a law degree, a CompSci, and several others. So please... Fred... you're low on the totem-pole here. Everyone else in this group is pretty highly educated.




This is the internet. I have no idea if any of this is true. All I have to go on is the stuff you have posted here and the number of times I have corrected you.
fredtoast SEP 10, 10:53 AM

quote
Originally posted by 82-T/A [At Work]:

LOL, Fred... I never said this. Please show me where I said this. What I said is that the Keystone XL pipeline would have reduced the cost of oil because it would have provided oil directly to refineries where it would have been sold on the international market... which YES... does reduce the cost of domestic gasoline because there's MORE oil available globally, which drives down demand. It's not just China, Fred.




Closing the pipeline did not diminish or reduce supply. It was just hauled by rail

https://www.pumpsandsystems...l%20market%20demand.

"Market demand for crude oil, not pipeline capacity, determines how much is produced and transported to refineries. Stopping the pipeline’s construction will not reduce the production or consumption of the additional market demand."