OPEC cutting production...

[ironglow]

  Which will of course, raise prices here substantially..and make the refilling of our strategic reserve very costly.

  Stupid could solve the entire problem this morning..and do it with his pen, rescinding his production cuts he
   hit us with on his first day in office !

  BTW; it would also help to allay the future recession/inflation which is headed our way..

[billy_56081]

Nice!

[NWBear]

" Stupid could solve the entire problem this morning..and do it with his pen, rescinding his production cuts he
   hit us with on his first day in office !"

How much "lower" is the US oil production now than in 2020?  (hint: Nov. 2020 11,196 million barrels per day, July 2022 11,800 million barrels per day)

[TrumpWon]

Because demand is high.
2020 demand was low because of COVID

[Dixie-Dude]

Covid is over, people mostly that want a job have gone back to work and regular shopping.  Thus more gasoline and oil needed.  Industry has tried to resume normal production, etc. 

[ironglow]

" Stupid could solve the entire problem this morning..and do it with his pen, rescinding his production cuts he
   hit us with on his first day in office !"

How much "lower" is the US oil production now than in 2020?  (hint: Nov. 2020 11,196 million barrels per day, July 2022 11,800 million barrels per day)

   What you claim here is a moot point It is clear, since we do not have enough oil in the market.

  Need proof!  The market provides a clearer, more honest answer than any government pronouncement !
   So the answer is right before us ! 
   Gas is at near $4 per gallon, and would be even higher, if dopey were not selling off our strategic reserve,
   so as to reduce the price temporarily (before election).

   Once the strategic reserve is gone...a stupid and dangerous move, the price will climb back to near $5.
    ...And now, with OPEC cutting production, gas will likely be far above $5...

   He has the means at his disposal to stop OPEC in their tracks...and the US can profit from it !

  ...But he won't likely do that...since all evidence points to the Demonrats trying to hurt/destroy the USA..

[Mule 11]

From what I’ve seen every time dems are in charge everything costs more, production drops ( due to excessive regulation and big government ) and all of our (true) not make believe as if they were constitutional rights are under attack.

[ironglow]

From what I’ve seen every time dems are in charge everything costs more, production drops ( due to excessive regulation and big government ) and all of our (true) not make believe as if they were constitutional rights are under attack.

  ^^^THAT^^^....DITTO...   Control freaks are like that..I think it is in their genes..

[NWBear]

"So if oil production is about the same comparing 2020 to 2022, and there is no shortages; then according to NWBear's supply-demand theory why is price at the pump so high?"

Because the WORLD OIL PRICE is high...  The US oil companies base prices on the world oil price NOT on how much THEY produce domestically.  Please be accurate, I said DOMESTIC production is the same as it was 2 years ago.  DOMESTIC PRODUCTION is basically the same as it has been since 2018, it was lower before that.

"At current price per barrel gasoline is typically priced ard 2.40 per gal."

What is this based on?  April 2019 oil was $63.91 and gas was $2.89, May 2017 Oil is $48.32 Gas is $2.41.  Right now (Sept. 2022) Oil is$79.49 gas is $3.71

I don't set the market, but at least I support my statements with facts.

I would like to know how the President can reduce gas prices (other than nationalizing the oil companies like communist countries do)?  US production is the highest in the last 100 years (the only year that got close was 1970) so what can he do?

Looking forward to hearing why I am wrong (with facts please).

[NWBear]

Because demand is high.
2020 demand was low because of COVID

Demand is less than  before  Covid-19

Demand is less  because  price is high.

30 million people dropped out of the work force.

Supply is good, there are no shortages yet.

Oil company profits are sky high.

At current price per barrel gasoline is typically priced ard 2.40 per gal.

Just wondering how NWB justifies current pricing.

Sorry TM7 , I don't justify it, set it, or like it - I am just commenting on the forces at work.  And correcting mis-statements, like "production shut down in the US"

[Mule 11]

"So if oil production is about the same comparing 2020 to 2022, and there is no shortages; then according to NWBear's supply-demand theory why is price at the pump so high?"

Because the WORLD OIL PRICE is high...  The US oil companies base prices on the world oil price NOT on how much THEY produce domestically.  Please be accurate, I said DOMESTIC production is the same as it was 2 years ago.  DOMESTIC PRODUCTION is basically the same as it has been since 2018, it was lower before that.

"At current price per barrel gasoline is typically priced ard 2.40 per gal."

What is this based on?  April 2019 oil was $63.91 and gas was $2.89, May 2017 Oil is $48.32 Gas is $2.41.  Right now (Sept. 2022) Oil is$79.49 gas is $3.71

I don't set the market, but at least I support my statements with facts.

I would like to know how the President can reduce gas prices (other than nationalizing the oil companies like communist countries do)?  US production is the highest in the last 100 years (the only year that got close was 1970) so what can he do?

Looking forward to hearing why I am wrong (with facts please).

OK. Simple fact. Trump $1.60 a gallon and prosperous country. Bidet $4 a gallon and rising and country going to shatt... How are those for “facts” ? Not taking in being on the verge of nuclear Armageddon due to great diplomacy... Please respond with “facts”

[phalanx]

The oil company’s are working over the older wells now. We cant drill any new ones and we cant frack. Off shore rigs have been stacked out now. We are importing.

[Dixie-Dude]

Russia isn't exporting oil except to China and some to India.  Opec has voted to cut production.  We have drawn down our strategic reserve.  Biden cut drilling rights on government land and offshore.  Now, add in inflation, higher production and labor costs for refining and transporting.  Now the oil companies are scared about Opec and drilling rights cut, so they began to raise their prices accordingly to be able to have enough cash to import the crude at higher prices to meet our demand. 

All of this stupidity is caused by our government and the Russian government. 

[ironglow]

  From NW;

      " I would like to know how the President can reduce gas prices (other than nationalizing the oil companies like communist countries do)?  US production is the highest in the last 100 years (the only year that got close was 1970) so what can he do?"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

  So, you ask how Biden can reduce prices..

   He can reduce gas prices by ..
 
       ...KEEPING HIS GRUBBY NOSE OUT OF AND HANDS OFF OF, THE OIL & GAS PRODUCERS !

     

[DDZ]

"So if oil production is about the same comparing 2020 to 2022, and there is no shortages; then according to NWBear's supply-demand theory why is price at the pump so high?"

Because the WORLD OIL PRICE is high...  The US oil companies base prices on the world oil price NOT on how much THEY produce domestically.  Please be accurate, I said DOMESTIC production is the same as it was 2 years ago.  DOMESTIC PRODUCTION is basically the same as it has been since 2018, it was lower before that.

"At current price per barrel gasoline is typically priced ard 2.40 per gal."

What is this based on?  April 2019 oil was $63.91 and gas was $2.89, May 2017 Oil is $48.32 Gas is $2.41.  Right now (Sept. 2022) Oil is$79.49 gas is $3.71

I don't set the market, but at least I support my statements with facts.

I would like to know how the President can reduce gas prices (other than nationalizing the oil companies like communist countries do)?  US production is the highest in the last 100 years (the only year that got close was 1970) so what can he do?

Looking forward to hearing why I am wrong (with facts please).

We all saw what the Biden regime did when he took office. If the Biden regime is allowing so much oil production here, why has he been begging the Saudis and Venezuela to pump him more oil?  I think you know that if trump were president as he was rightfully elected by America. We would not be seeing $5 a gal gas, and over $6 for diesel fuel. 

[NWBear]

" ...KEEPING HIS GRUBBY NOSE OUT OF AND HANDS OFF OF, THE OIL & GAS PRODUCERS !"

And that will increase production beyond what was produced during the previous administration...  (nice reference to specific laws and regulations which increase prices)

To those who wonder why we are asking OPEC to increase production, it is because the less oil in the WORLD the higher the WORLD price for oil and the resulting higher price for gasoline in the US.  Interesting that in 2020 the price of oil got so low (because Saudi Arabia was fighting with Russia) That President Trump asked the Saudis to cut back production and increase prices to save American oil companies.

[TrumpWon]

That would have been the opportune moment to top off the reserves

[DDZ]

Oil, and the price of it will be of our least concern, when then Biden regime get us into a nuclear war.

[Mule 11]

"So if oil production is about the same comparing 2020 to 2022, and there is no shortages; then according to NWBear's supply-demand theory why is price at the pump so high?"

Because the WORLD OIL PRICE is high...  The US oil companies base prices on the world oil price NOT on how much THEY produce domestically.  Please be accurate, I said DOMESTIC production is the same as it was 2 years ago.  DOMESTIC PRODUCTION is basically the same as it has been since 2018, it was lower before that.

"At current price per barrel gasoline is typically priced ard 2.40 per gal."

What is this based on?  April 2019 oil was $63.91 and gas was $2.89, May 2017 Oil is $48.32 Gas is $2.41.  Right now (Sept. 2022) Oil is$79.49 gas is $3.71

I don't set the market, but at least I support my statements with facts.

I would like to know how the President can reduce gas prices (other than nationalizing the oil companies like communist countries do)?  US production is the highest in the last 100 years (the only year that got close was 1970) so what can he do?

Looking forward to hearing why I am wrong (with facts please).

OK. Simple fact. Trump $1.60 a gallon and prosperous country. Bidet $4 a gallon and rising and country going to shatt... How are those for “facts” ? Not taking in being on the verge of nuclear Armageddon due to great diplomacy... Please respond with “facts”

So then. No reply. Burrp

[ironglow]

" ...KEEPING HIS GRUBBY NOSE OUT OF AND HANDS OFF OF, THE OIL & GAS PRODUCERS !"

And that will increase production beyond what was produced during the previous administration...  (nice reference to specific laws and regulations which increase prices)
 
    American producers would produce what will sell, they were happy when Pres Trump was in office and gas was retailing at -$2..

To those who wonder why we are asking OPEC to increase production, it is because the less oil in the WORLD the higher the WORLD price for oil and the resulting higher price for gasoline in the US.
 
  Which of course, works right into the domestic communists plans to destroy the US as we know it ! 

   Interesting that in 2020 the price of oil got so low (because Saudi Arabia was fighting with Russia) That President Trump asked the Saudis to cut back production and increase prices to save American oil companies.

   How do you know for sure that Trump's motive was to "save American companies"..or are you just
    guessing at it ?  In any case American producers were doing fine with the Trump era prices..

   Although there is no way I could know for sure what he said to the Saudis..any more than you can..

  ..But I would think it more likely that Pres Trump wanted to keep energy prices low, in order to make our
    economy grow, so he told them that if they did not drop their prices..he would have American producers flood them out in oil!  That sounds more like our "no BS" president !

   The Saudis must have been happy with whatever Trump did, because they are  now trying to throw Biden under the bus.

  Let's admit it, Trump's "Abraham accord" was working very well for all who endorsed it, so Biden has likely
    p_ _ _ _d  the Saudis off !
   
   No surprise there though, the only ones who could appreciate what Biden has done, is the world wide
     Communist adherents.

[Mule 11]

"So if oil production is about the same comparing 2020 to 2022, and there is no shortages; then according to NWBear's supply-demand theory why is price at the pump so high?"

Because the WORLD OIL PRICE is high...  The US oil companies base prices on the world oil price NOT on how much THEY produce domestically.  Please be accurate, I said DOMESTIC production is the same as it was 2 years ago.  DOMESTIC PRODUCTION is basically the same as it has been since 2018, it was lower before that.

"At current price per barrel gasoline is typically priced ard 2.40 per gal."

What is this based on?  April 2019 oil was $63.91 and gas was $2.89, May 2017 Oil is $48.32 Gas is $2.41.  Right now (Sept. 2022) Oil is$79.49 gas is $3.71

I don't set the market, but at least I support my statements with facts.

I would like to know how the President can reduce gas prices (other than nationalizing the oil companies like communist countries do)?  US production is the highest in the last 100 years (the only year that got close was 1970) so what can he do?

Looking forward to hearing why I am wrong (with facts please).

Here ya go since you wanted facts. Go to wnd.com and view this article in the politics section.
How joe biden announced his war on America’s oil and gas industry.
“I guarantee you. We’re going to end fossil fuel”
Give that a try doubting Thomas errr nwb.

[ironglow]

"So if oil production is about the same comparing 2020 to 2022, and there is no shortages; then according to NWBear's supply-demand theory why is price at the pump so high?"

Because the WORLD OIL PRICE is high...  The US oil companies base prices on the world oil price NOT on how much THEY produce domestically.  Please be accurate, I said DOMESTIC production is the same as it was 2 years ago.  DOMESTIC PRODUCTION is basically the same as it has been since 2018, it was lower before that.

"At current price per barrel gasoline is typically priced ard 2.40 per gal."

What is this based on?  April 2019 oil was $63.91 and gas was $2.89, May 2017 Oil is $48.32 Gas is $2.41.  Right now (Sept. 2022) Oil is$79.49 gas is $3.71

I don't set the market, but at least I support my statements with facts.

I would like to know how the President can reduce gas prices (other than nationalizing the oil companies like communist countries do)?  US production is the highest in the last 100 years (the only year that got close was 1970) so what can he do?

Looking forward to hearing why I am wrong (with facts please).

Here ya go since you wanted facts. Go to wnd.com and view this article in the politics section.
How joe biden announced his war on America’s oil and gas industry.
“I guarantee you. We’re going to end fossil fuel”
Give that a try doubting Thomas errr nwb.

   ..And don't forget the Demonrats plans for most of the working people and their dreams..  You only need watch Hillary for the first few seconds..
  https://www.youtube.com/watch?v=O8L57wahm0U 
 

[ironglow]

  From NW, reply #2,

   "
How much "lower" is the US oil production now than in 2020?  (hint: Nov. 2020 11,196 million barrels per day, July 2022 11,800 million barrels per day)"

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    Chart, courtesy Wolfstreetreport.com...

    Notice how US  production started to climb in 2016....after WHO was elected president? 

...Then it dropped off precipitously on 2020 after WHO cut back on usable leases and closed our pipelines ?

[NWBear]

"...Then it dropped off precipitously on 2020 after WHO cut back on usable leases and closed our pipelines ?"

I notice the chart stops in May of 2020 at the height of the pandemic...  I guess the "WHO" in cut back was referring to President Trump since he was President in May of 2020.
What happened in the subsequent months???

From the US Energy Department:
                Jan           Feb            Mar          Apr          May           Jun           Jul            Aug           Sep           Oct           Nov          Dec           
 2020   12,852   12,842   12,797   11,914   9,713   10,442   11,006   10,577   10,921   10,457   11,196   11,168
  2021   11,124   9,925   11,326   11,305   11,356   11,356   11,347   11,277   10,918   11,569   11,790   11,634
  2022   11,369   11,316   11,701   11,668   11,629   11,788   11,800               

[DDZ]

"...Then it dropped off precipitously on 2020 after WHO cut back on usable leases and closed our pipelines ?"

I notice the chart stops in May of 2020 at the height of the pandemic...  I guess the "WHO" in cut back was referring to President Trump since he was President in May of 2020.
What happened in the subsequent months???

From the US Energy Department:
                Jan           Feb            Mar          Apr          May           Jun           Jul            Aug           Sep           Oct           Nov          Dec           
 2020   12,852   12,842   12,797   11,914   9,713   10,442   11,006   10,577   10,921   10,457   11,196   11,168
  2021   11,124   9,925   11,326   11,305   11,356   11,356   11,347   11,277   10,918   11,569   11,790   11,634
  2022   11,369   11,316   11,701   11,668   11,629   11,788   11,800

Do you deny the Biden regime is at war with the oil and gas industry?  I'd like to see your answer. A simple yes or no will be fine. 

[DDZ]

I called today to have my oil tank filled. I thought I could get ahead of the coming price increase. I got a call back and the people that deliver oil said they are now waiting on product, and I can expect to see at least $5.20 a gal., and as much as $5.50. Guess I missed the boat. 

[neckisred]

I called today to have my oil tank filled. I thought I could get ahead of the coming price increase. I got a call back and the people that deliver oil said they are now waiting on product, and I can expect to see at least $5.20 a gal., and as much as $5.50. Guess I missed the boat. 

Damn!!!!!!! If their anything like the company I get my propane from, be prepared to pay the $5.50. Ferrelgas likes to top me off when prices are high and they let me almost run out when prices are low.

[DDZ]

My electric bill is at least $50 higher than it was 6 months ago. With just the rising cost of gas, oil, electricity, and food. Lots of people are going to be struggling. to heat their homes, put gas in the car, and food on the table.   

[ironglow]

  From NW Bear;
    ""...Then it dropped off precipitously on 2020 after WHO cut back on usable leases and closed our pipelines ?"

I notice the chart stops in May of 2020 at the height of the pandemic...  I guess the "WHO" in cut back was referring to President Trump since he was President in May of 2020.
What happened in the subsequent months???"
 

   Yes the demand dropped off when the CCP virus hit us...but just about the time when the pandemic eased. Biden effectively cut our production..so OPEC saw a chance to raise prices and Putin, with a weak US president and a sudden influx of petro-dollars, decided it was time to initiate a Ukraine incursion.
   
     The price of oil is directly related to the LAW of "supply and demand", which is the basis of economics.

  The world is run on petroleum, regardless of what the leftists claim....  The world runs on petroleum based economy...that is elementary !

  Our food prices are up because of the cost of fertilizer, running farm equipment, processing and shipping the food, all of which add to costs.

  The same facts apply to all manufactured goods..and affects services, entertainment and recreational enterprises in the same way..   That should all go without saying..simple common sense should cover it !

  The situation is in Biden's hands and can be solved by him virtually overnight..with the same alacrity with which he shut down our petro economy !!

  Yet, the Keystone pipeline is still rusting away, while he approves Russia supplying Europe, handing him 
   the power to hold the European NATO powers, hostage to Putin's demands..

  Meanwhile Biden goes hat-in-hand, begging from the Communist dick-tater of Venezuela..  We KNOW it is not because of environmental reasons, since Venezuela processes their petroleum (which is inferior to our own) at 4 times the pollution production as we do ours.

   He could stop the inflation and the coming recession, just as easily as he started it !  He has no excuse. since we (the US) has moire oil reserves than Saudis and Russia combined..

   Here, from the people who know it best.

       https://www.aogr.com/web-exclusives/exclusive-story/u.s.-holds-most-recoverable-oil-reserves

  I cannot understand why, unless you are a closet democrat, why you keep defending the stupid decisions of this
    babbling waste of  a president.

[Mule 11]

My electric bill is at least $50 higher than it was 6 months ago. With just the rising cost of gas, oil, electricity, and food. Lots of people are going to be struggling. to heat their homes, put gas in the car, and food on the table.

You think we will have gas, oil, electricity, and food? I’m a bit doubtful and more concerned about eradication...