(12-14-2022 12:24 PM)Attackcoog Wrote:  

(12-14-2022 09:34 AM)Redwingtom Wrote:  

(12-14-2022 09:02 AM)Attackcoog Wrote:  

(12-13-2022 02:27 PM)Redwingtom Wrote:  

(12-13-2022 12:25 PM)UofMstateU Wrote:  Most all of this could be fixed starting almost immediately by simply pumping more domestic oil.

Completely clueless how any of this works.

lol. Well, someone is missing the boat here---but it aint your foil. Oil and gas is the life blood of the modern economy. Its price trickles into the cost of literally every other commodity. For instance, part of the ferilizer shortage stems from the price of natural gas. Gas is a heavy cost factor in the production of nitrogen based fertilizers. That entire industry is essentially shut down in Europe because the supply is so limited and the cost of gas there is so high. Lack of production of fertilizer in Europe then leads to a world wide shortage, higher fertilizer prices, lower world wide yields, higher shipping/production costs, and results in higher food prices at the grocery store.

We could produce much more in the US if were open for business---but someone is White House doesnt want that. Instead, he wants to drain the "emergency" reserve dry so when a real emergency hits the nation has no options. If you look at rig counts, we are about 25% below where we were in 2018 and about a third of where we were in 2015. Well activity leveled off and fell when the price began tanking 2015-2020---and then it tanked with Covid shutdowns. Instead of just pulling oil from the strategic reserve, Biden should have been doing everything in his power to get new oil and gas wells drilled and on its way (especially considering Russian oil is not going to be an option for Europe or the US for a long time).

Pumping alone will do next to nothing. That was my point. You need labor and materials and delivery systems in ADDITION to refinery capacity to use this oil he wants to pump.

Further, for most all rigs in the US, if you pump more out of them they lose life-span...and drilling more wells takes time before they produce...and again, you're dealing with a labor, material and delivery issue.

And IIRC, we are no longer taking oil from the reserves.

Lastly, I believe we are currently pumping like 1.25 million more barrels per day currently than we were before Biden took office.

Really? We are going to compare Biden's oil output to the Covid shutdown year and proclaim he's doing Greeeeaaaatttt!!! Energy demands continue to increase---so what met our needs a year ago would be inadequate today. Bottom line---2 years ago we were energy independent---now we are not. Bidens policies are slowly making the problem progressively worse rather than progressively better.

We were NEVER energy independent. There's two definitions of this. The one trump used, if applied to Biden, means we are every bit as energy independent now as we were under trump...and actually more so.

And nowhere did I say any Biden policy lead to the increase in production.

Wow. 6 in a row. Gotta be a new record.

(12-13-2022 11:37 AM)200yrs2late Wrote:  

(12-13-2022 10:51 AM)miko33 Wrote:  Looks like the aggressive increases in interest rates by the Fed is working. At this point, they'll likely pause for now to see if inflation will continue to decrease.

To the rest commenting in the thread - we get it that Biden and his administration plus the Fed screwed the pooch on this one and were stupid with the 2021 bailout checks given the economy was more than ready to go and just needed to get back to work instead of paying people to stay home and not work. That said, focusing on TODAY it's good to see inflation slowing.

Inflation is still up year over year. I expect a smaller increase in the rate, but I seriously doubt they will pause.

.5% increase, who woulda thunk it. Also projecting an overall higher future mark than previously projected, a sharp slowing of economic growth and dramatically higher unemployment next year.

All while Biden is out there saying the numbers prove his economic plan is working for the American public. What a crock of ****.

Sent from my SM-G990U2 using Tapatalk

(12-14-2022 01:36 PM)Redwingtom Wrote:  

(12-14-2022 12:24 PM)Attackcoog Wrote:  

(12-14-2022 09:34 AM)Redwingtom Wrote:  

(12-14-2022 09:02 AM)Attackcoog Wrote:  

(12-13-2022 02:27 PM)Redwingtom Wrote:  Completely clueless how any of this works.

lol. Well, someone is missing the boat here---but it aint your foil. Oil and gas is the life blood of the modern economy. Its price trickles into the cost of literally every other commodity. For instance, part of the ferilizer shortage stems from the price of natural gas. Gas is a heavy cost factor in the production of nitrogen based fertilizers. That entire industry is essentially shut down in Europe because the supply is so limited and the cost of gas there is so high. Lack of production of fertilizer in Europe then leads to a world wide shortage, higher fertilizer prices, lower world wide yields, higher shipping/production costs, and results in higher food prices at the grocery store.

We could produce much more in the US if were open for business---but someone is White House doesnt want that. Instead, he wants to drain the "emergency" reserve dry so when a real emergency hits the nation has no options. If you look at rig counts, we are about 25% below where we were in 2018 and about a third of where we were in 2015. Well activity leveled off and fell when the price began tanking 2015-2020---and then it tanked with Covid shutdowns. Instead of just pulling oil from the strategic reserve, Biden should have been doing everything in his power to get new oil and gas wells drilled and on its way (especially considering Russian oil is not going to be an option for Europe or the US for a long time).

Pumping alone will do next to nothing. That was my point. You need labor and materials and delivery systems in ADDITION to refinery capacity to use this oil he wants to pump.

Further, for most all rigs in the US, if you pump more out of them they lose life-span...and drilling more wells takes time before they produce...and again, you're dealing with a labor, material and delivery issue.

And IIRC, we are no longer taking oil from the reserves.

Lastly, I believe we are currently pumping like 1.25 million more barrels per day currently than we were before Biden took office.

Really? We are going to compare Biden's oil output to the Covid shutdown year and proclaim he's doing Greeeeaaaatttt!!! Energy demands continue to increase---so what met our needs a year ago would be inadequate today. Bottom line---2 years ago we were energy independent---now we are not. Bidens policies are slowly making the problem progressively worse rather than progressively better.

We were NEVER energy independent. There's two definitions of this. The one trump used, if applied to Biden, means we are every bit as energy independent now as we were under trump...and actually more so.

And nowhere did I say any Biden policy lead to the increase in production.

(12-13-2022 11:19 AM)VA49er Wrote:  Have to love the spin. "It doesn't suck as bad!" That's seen as a win with some people. No idea why people fall for this nonsense.

This ^

(12-13-2022 02:27 PM)Redwingtom Wrote:  

(12-13-2022 12:25 PM)UofMstateU Wrote:  Most all of this could be fixed starting almost immediately by simply pumping more domestic oil.

Completely clueless how any of this works.

Good to see you finally admit it! Well done Tom.

(12-13-2022 02:36 PM)Owl 69/70/75 Wrote:  

(12-13-2022 02:27 PM)Redwingtom Wrote:  Completely clueless how any of this works.

Tom, you would do better to remain quiet and be thought a fool than to post and remove all doubt.

(12-14-2022 03:51 PM)Eagleaidaholic Wrote:  Wow. 6 in a row. Gotta be a new record.

I'm very popular. Pretty much every time I post something, 5-6 of you reply to me. I would not want to hurt any of you further emotionally by not responding.

Surging.

Libs - “We were supposed to lose by 31, but we only lost by 14. It counts as a win!”



Idiots

(12-15-2022 09:58 AM)MemTigers1998 Wrote:  Libs - “We were supposed to lose by 31, but we only lost by 14. It counts as a win!”



Idiots

They covered the spread. It works for the stock market.