OPEC plus 1= a whole lotta pain

[eyecu2]

Fucking hell, We help the saudi's and other middleast countries who have lived a sweet life off selling sweet crude. Now with the recent announcements of them dropping production by 2mm barrels daily, look for oil and gas to go up, up, up.

I think it's going to really create some bad results for everyone in the world. Not just the USA but everywhere. What should be done?

I'd love to hear what you all think AMERICA (not red or blue, but all of it) should do!

And before we get into the energy independence stature- realize that if oil is a global commodity, (which it is)- global prices are what drives the price whether it's drilled here or out of the USA. The price is the price- so to speak and we regardless of where it comes from are going to pay more when demand continues and supply is turned down.

Regarding the current stats of OPEC: about 28 million barrels a day - Opec was formed in 1960 as a cartel, with the aim of fixing the worldwide supply of oil and its price. Today, Opec nations produce around 30% of the world's crude oil, about 28 million barrels a day.

What results is a 7% reduction in production but the elasticity of prices will have a much larger impact.

This is the type of shit that causes wars. When we see countries strangle supplies and pricing increases that are going to be profound- where do you think things will turn out?


BTW- if your comment is only by voting out Dems- LOL. that's fine but what would Repubs do in order to create a different outcome? Oh yeah, since this is not the past & the time machine hasn't been invented yet, please focus on the present and future universe. (The politics of this won't be the savior of pricing unfortunately if there is a Saudi reduction of 2mm barrels and a stoppage of 1 mm barrels from the SOR.)

This is highly troubling indeed.-what say you? BTW- Opec plus 1 is plus Russia- Just how deep down the rabbit hole does this whole fucking thing go?

[Jacuzzme]

Stop being hostile to the energy industry and pretending the world is on the brink of climate catastrophe would be a good start.

[berryberry]

Actions have consequences. When you have a Dementia Addled President who has sold out to the Green New Deal extremists and started a war on the fossil fuel industry, this is the result

Since this is what the crazy libtards in DC want, the only solution is to get rid of them

And it's funny but I have been warning about these type of consequences on the $5 gas thread but you and a few of the usual libtard suspects dismissed them.

[berryberry]

Remember this:

I posted was an article pointing out the fact that the Senile Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II. I didn't talk about drilling wells or the price of oil - I posted FACTS about new leases being issued.

An article / facts that you dismissed



Now we will see the consequences of these extremist actions by Senile Biden and the libtards in DC

[berryberry]

Now Senile Biden is shitting bricks

With OPEC cutting production and Senile Biden, having drained the Strategic Petroleum Reserve in a brazen attempt to buy votes for the midterms, he is in a panic

Leaked White House talking points say an OPEC oil cut would be a “total disaster” & propose threatening OPEC members.

A U.S. official said the White House is “having a spasm & panicking.”

All to avoid more domestic oil production.

https://www.cnn.com/2022/10/04/polit...rms/index.html

[berryberry]

Let’s be clear about what happened:

1. Senile Biden destroyed America's oil/gas industry and made us dependent on OPEC again.

2. Senile Biden begged OPEC to produce more oil.

3. OPEC is doing the opposite—cutting output by 2 million barrels a day.

Total failure. OPEC is laughing at him while Senile Biden is now shitting bricks.

[berryberry]

Is Burisma energy guru Hunter Biden unavailable to solve this problem Senile Biden and the extremist libtards in DC created?

[Jacuzzme]

Not to mention dem policy making Russia rich and the ruble soar to unprecedented heights.

[eyecu2]

Gents- Here was the instructions for the replies; instead of lamenting about the fact of what has been, Not where this supposedly started, it's really about where does this go from this point on.

Not looking for the partisan flaming, or the woulda, coulda, shoulda, because nobody would have thought, OPEC plus Russia is gonna decide to cut production with current demands; I don't recall seeing it on any posts anywhere, but I do see we are all living with this outcome.

If you're intent is to recap how we got here, start your own thread.

If you're looking to call out a particular person or group without a solution, start your own thread.

If you only want to flavor this up with partisan BS, you're welcome to start your own thread-

This one is about the pain moving forward and how we steer around it.

Looking forward to mindful and perhaps salient unique solutions!

[berryberry]

The solutions were posted - you just want to ignore them

Originally Posted by Jacuzzme

Stop being hostile to the energy industry and pretending the world is on the brink of climate catastrophe would be a good start.

Originally Posted by berryberry

Actions have consequences. When you have a Dementia Addled President who has sold out to the Green New Deal extremists and started a war on the fossil fuel industry, this is the result

Since this is what the crazy libtards in DC want, the only solution is to get rid of them

Originally Posted by berryberry

Remember this:

I posted was an article pointing out the fact that the Senile Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II.

Now we will see the consequences of these extremist actions by Senile Biden and the libtards in DC

[eyecu2]

Originally Posted by Jacuzzme

Stop being hostile to the energy industry and pretending the world is on the brink of climate catastrophe would be a good start.

I agree that a transitional approach should be provided with a time frame associated with that from current status to future status, Climate should still be a consideration in my opinion, but that's just economically suicidal at this point to remain focused only on that attribute and not the dollars.

[Salty Again]

.... ENERGY INDEPENDENCE! ... Make America Rich Again! ...

... Re-Elect TRUMP in 2024! ...

#### Salty

[eyecu2]

Originally Posted by Salty Again

.... ENERGY INDEPENDENCE! ... Make America Rich Again! ...

... Re-Elect TRUMP in 2024! ...

#### Salty

So just to clarify, if there was more oil being produced in the USA, you think that would solve a global energy deficit?


What would oil producers in the USA do if they had more oil on hand?

Would they sell it at a discount for domestic USA users, or as publicly traded entities, would they sell on the global market at whatever the price was globally?

[rmg_35]

Originally Posted by eyecu2

So just to clarify, if there was more oil being produced in the USA, you think that would solve a global energy deficit?


What would oil producers in the USA do if they had more oil on hand?

Would they sell it at a discount for domestic USA users, or as publicly traded entities, would they sell on the global market at whatever the price was globally?

You're talking too much sense. All tRumptards can do is post bullshit they hear on faux and truth social. Biden has been approving new drill, but tRumptards will not mention anything about the greedy oil companies making record billions of dollars in profits. More drilling is not going to solve the corporate greed that is going on in this country.

[lustylad]

Originally Posted by rmg_35

You're talking too much sense. All tRumptards can do is post bullshit they hear on faux and truth social. Biden has been approving new drill, but tRumptards will not mention anything about the greedy oil companies making record billions of dollars in profits. More drilling is not going to solve the corporate greed that is going on in this country.

And you are making ZERO sense.

More drilling is what allowed the United States to more than double our domestic crude oil production - from 6 million barrels per day in 2012 to 13 million bpd in early 2020. That's an increase of 7 million bpd! Here's a graph for you:





This added US production not only kept global oil prices in check, it actually caused the price to plummet in 2014 to under $50 a barrel. Were you complaining about "corporate greed" when that happened? Here's a second graph for you:





It's amazing how you keep babbling about "corporate greed" - when oil is one of the purest examples on the fucking planet of a market determined by supply and demand!

And what is Team Biden's "solution"? Let's lift the sanctions on Venezuela so those "greedy" bastards running Chevron can go back and start pumping Venezuelan crude again, thereby enriching the far-left thug Nicolas Maduro, whose socialist policies have destroyed the economy of what was once the most prosperous country in Latin America!

Would you care to explain and defend that Biden policy, rmg_35?

Let's hear you try to "talk too much sense", ok?

I'm all ears!