(06-16-2022 12:39 PM)WKUYG Wrote:  I cant think of one law that would withstand a SC challenge that would allow the government to take control of oil companies. Today this country is still a nation of laws and the highest court in the land would have the finial say. To get to the point of its a issues that the country needs to control/take over....

supplies would need to be very limited and that's just not the case

Can anyone point to a current law that would give the government this right? Logical law, not just because you think, they can

It is not the "current" law you have to worry about WK, it is the near future addition of 5 or 7 brand new SCJ seats that will be added to the bench. For the love of JHC himself, the R's better no F-Up this November Election cycle.

(06-16-2022 11:46 AM)CrimsonPhantom Wrote:  Joe Biden Makes Pathetic Threat to Oil Companies, Exxon-Mobil Drops Him in Response

Quote:Amidst record prices, the White House has been desperately searching for a way to bring down costs without actually having to change its policy direction. That means lots of whining about supposed “price gouging” and threatening oil companies.

On Tuesday, the threats escalated to the use of emergency powers, specifically the Defense Production Act, to force oil companies to refine more gasoline.

President Biden will warn CEOs of the nation’s largest oil companies on Wednesday that he’s considering invoking emergency powers to boost U.S. refinery output, according to a letter obtained by Axios.

Why it matters: Biden’s direct engagement with the oil giants is part of an ongoing White House effort to tame fuel prices despite limited options — and cast oil companies as responsible for consumers’ higher bills.

It’s not the weekend, so I’m not going to just start posting memes describing how idiotic Biden’s threat is, and to be frank, I think everyone reading this is smart enough to know. Joe Biden isn’t smart enough to know, but you are.

While the president apparently believes he’s a king, refining capacity doesn’t care about emergency powers. As CNBC notes, refineries are already running over 90 percent of capacity, and no new ones have been built in decades, largely because of stringent federal regulations and inconsistent energy policies. Who would invest in a new refinery when you’ve got one party saying they want to shut it down in five to ten years? Then there’s the fact that the White House has pushed refineries to make environmentally-unfriendly, engine-damaging biofuel as part of its “climate” agenda.

Refiners can’t just ramp up output, with utilization rates already above 90%. Additionally, some refiners are now being reconfigured to make alternate products like biofuel.

After Biden sent his letter, Exxon-Mobil dropped him in response. The oil giant noted several inconvenient facts to the president’s narrative, even going so far as to discuss investments that have cost the company money in an effort to keep production going in this difficult (mostly government-caused) environment.



The statement is clear and concise, and while it’ll do nothing to persuade the climate hysterics, the facts within are undeniable. Despite the often-repeated claim that oil companies are just pocketing gobs of cash, Exxon-Mobil points out that they have invested double what they’ve made over the last five years. Contrary to the president’s notion that they are purposely holding back production, they have increased production by 50 percent.

But I think the most important part of the response comes at the end. While Biden hounds the oil companies to create a scapegoat for his failed policies, Exxon-Mobil is asking for “clear and consistent” policies. That’s really the key to this entire thing. When a president spends years saying he’s going to crush oil production and then enacts policies that do just that, the idea that it is now the fault of oil companies for not producing more is asinine. It’s a pathetic attempt by a feeble, old man to deflect blame for his failures.

Lastly, the statement specifically mentions the need for more infrastructure, such as pipelines. That’s a nod to Biden’s canceling of Keystone XL. After all, how are you going to refine more gasoline when the supply of oil is being pinched by the government? The president could greenlight Keystone today and it would have an effect on oil prices because the markets are speculatory. He won’t, though.

In the end, I think Americans know where the blame lies here. Biden’s weak attempts to escape responsibility will only harden the opposition to him.

This is impossible - we have been told that a president has NOTHIGN to do with gas prices .

Peter Doocy Nails WH in a Lie and Complete Contradiction on Inflation, Oil Production

Quote:At this point, our gas prices are skyrocketing to the moon, while Joe Biden and his team seem to have no idea what they are doing from one minute to the next, as their positions contradict each other.

Biden sent energy companies a threatening letter demanding that they produce more oil and suggesting consequences if they did not comply. Shades of a communist government. Exxon responded back, essentially saying that he had no idea what he was talking about — it was a very polite, “you’re full of it.” They said that they kept producing through the pandemic, even though they lost billions in the process. But that the real answer is consistent government policy that allows for stable growth — the opposite of what Biden has done.

Specific to refining capacity in the U.S., we’ve been investing through the downturn to increase refining capacity to process U.S. light crude by about 250,000 barrels per day – the equivalent of adding a new medium-sized refinery. We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand.

In the short term, the U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions — such as waivers of Jones Act provisions and some fuel specifications to increase supplies. Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines.

Now, we already noted that Biden’s climate czar John Kerry wasn’t on the same page, claiming that there was no need to drill more.

On Wednesday, White House Press Secretary Karine Jean-Pierre attacked the oil companies for not producing enough — telling them to “stop blaming the war” — which is ironic, given that’s all that Joe Biden does. She demanded that they be “patriotic” and come up with more.

But on Thursday, when Fox’s Peter Doocy asked Jean-Pierre if this meant that the Biden team was backing off their stated goal of ending fossil fuels, she said no. They were still intent on stopping fossil fuels, and that they “don’t need” to drill.

“No, we are going to continue to move forward with our clean-energy proposal, our climate change proposal,” Jean-Pierre said. These folks are clueless.

So, they want the companies to invest a lot and ramp up production — while they’re still trying to get rid of them? How does that make any kind of sense? Help us politically, but we still want to do you in.

And as Exxon noted, what kind of message does this send? Why would anyone produce anything under these circumstances? It’s already a precarious business, with a lot of possible loss. What you will have from all this is people getting out of the field because they don’t want to have to deal with this. Which will make things more difficult and drive prices up even more. You have to have a consistent, stable, encouraging policy — not a government trying to whip you into submission.

But then Doocy asked Jean-Pierre about another one of Biden’s lies — that inflation is worse everywhere else but here. She goes into a word salad to rival Kamala Harris and Joe Biden, basically repeating Biden’s lie.

She’s supposed to be the press secretary. She’s supposed to be explaining all their positions on issues. If she descends into word salads and isn’t comprehensible, then we have an even bigger problem.

Doocy wouldn’t let her off the hook. He nailed her on that lie — pointing out inflation is worse here than in a boatload of countries.

But that’s the problem, when you lie a lot and have no idea what you are doing, it’s hard to keep anything straight–and that’s the Biden and his team right now.

They really don't understand how markets work. Nary a clue.

Trump would've been called an authoritarian for a stunt like this.

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(06-16-2022 07:05 PM)Owl 69/70/75 Wrote:  They really don't understand how markets work. Nary a clue.

True. What Biden* has is an Administration of ingrained Deep Staters that have always worked in the safe cocoon of political jobs inside the Beltway. None of them have truly worked in the private sector long enough to prove their capability. So all they know is theory and supposition based on their Beltway fantasyland experience.

It's absolute BS and that is what the clueless Biden Administration is trying to push right now.

And they are being called on it by the private sector.

The next 2.5 years are going to be painful for most of America.

(06-16-2022 07:34 PM)boss man Wrote:  

(06-16-2022 07:05 PM)Owl 69/70/75 Wrote:  They really don't understand how markets work. Nary a clue.

True. What Biden* has is an Administration of ingrained Deep Staters that have always worked in the safe cocoon of political jobs inside the Beltway. None of them have truly worked in the private sector long enough to prove their capability. So all they know is theory and supposition based on their Beltway fantasyland experience.

It's absolute BS and that is what the clueless Biden Administration is trying to push right now.

And they are being called on it by the private sector.

The next 2.5 years are going to be painful for most of America.

I don't give a fk if ya Rumpelstiltskin any era of theory...

these are g'dammed 3rd grade mentality lying pieces of fk....

semantical sugar coating this bs isn't going to fix a g'dammed thing....

but you're right ... in 2.5 years, the fuckkkage will be impacted worse than any 'gold toofuses' evah....