Oil - talk about fake news and misinformation.
Is it possible the recession/pandemic impact on petroleum had anything to do with the shift in supply and demand the last two years?
Is it possible the sharp drop in demand, then the drop in price in 2020 had an effect on imports/exports, and then led to petro companies cutting their own production...as typically happens in high production cost countries like the US and Canada, following a sharp drop in prices (and once prices rebound - we didn't see a sustained recovery until 2H21 - it can take several months if not years to increase production again)?
Sure, dems are less friendly to oil, but the most significant impact from any action taken by biden would be years away, and really couldn't have impacted 2021.
As I said in a prior post, say what you know, and know what you say.
That's absolutely what happened. When oil went to negative values for a few weeks in 2020, infrastructure spending within the oil companies stopped cold. It never returned. We have plenty of oil to make up for any Russian losses in the Permian Basin, but nobody has added capacity as they were recovering profits from the shock of the pandemic. That lack of investment happened everywhere.
Oil - talk about fake news and misinformation.
Is it possible the recession/pandemic impact on petroleum had anything to do with the shift in supply and demand the last two years?
Is it possible the sharp drop in demand, then the drop in price in 2020 had an effect on imports/exports, and then led to petro companies cutting their own production...as typically happens in high production cost countries like the US and Canada, following a sharp drop in prices (and once prices rebound - we didn't see a sustained recovery until 2H21 - it can take several months if not years to increase production again)?
Sure, dems are less friendly to oil, but the most significant impact from any action taken by biden would be years away, and really couldn't have impacted 2021.
As I said in a prior post, say what you know, and know what you say.
Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday.
A net petroleum importer is a country that imports more crude oil and refined products than the crude and products it exports.
While the U.S. has been a net petroleum products exporter for more than a decade, it has always been a net crude oil importer, that is, it imports more crude than it exports.
The total crude and petroleum products trade marked a historic shift in 2020 when the U.S. became a net petroleum exporter. On a monthly basis,
it was in September 2019 when the United States exported more crude oil and petroleum products than it importedâthe first month in which America was a net petroleum exporter since monthly records began in 1973,
the EIA said at the end of 2019.
Did you even read the article? In it you'll find:
While the U.S. has been a net petroleum products exporter for more than a decade, it has always been a net crude oil importer, that is, it imports more crude than it exports.
That means the US imports slightly more crude oil than it exports, refines it into petroleum products, and re-exports them. Not the dependency you're trying to paint it as at all.
Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday.
A net petroleum importer is a country that imports more crude oil and refined products than the crude and products it exports.
While the U.S. has been a net petroleum products exporter for more than a decade, it has always been a net crude oil importer, that is, it imports more crude than it exports.
The total crude and petroleum products trade marked a historic shift in 2020 when the U.S. became a net petroleum exporter. On a monthly basis,
it was in September 2019 when the United States exported more crude oil and petroleum products than it imported—the first month in which America was a net petroleum exporter since monthly records began in 1973,
What's really interesting about the Right these days is their constant attacks on Biden for the cost of gasoline, inflation, and for not cutting off Russian oil.
I would suggest that there is a strategy to the Russian oil bit. The US gets `3% of our oil from Russia. We could cut it off and find it someplace else.
Germany gets 50% of its oil from Russia, and the EU as a whole gets 27% from Russia. For natural gas, the EU gets 41% from Russia. Europe saying no to Russian fuel right now would be immensely painful in Europe.
I would suggest that Biden is not making the announcement because he is supporting our allies who are working on alternatives but lacking a lot of answers. The US saying "we're not importing Russian fuel" would just put more pressure on our EU allies.
If Biden wants an excuse for inflation and gas prices....then he would impose a ban on Russia and blame everything on that. As for inflation....by Easter, it will just go away...like a miracle. Just say what the nay-sayers want to hear... and ignore reality.
It's the difference between making every decision "by your gut", and professionally organizing allies and long-term plans. Strategy....it's a practice that's been missing in DC for 5 years. Of course, none of that makes any difference to the Right who are still rejecting the results of an election that even the loser knows he lost... but you can't worry about that when doing the right thing for the country.
These points are what stood out to me during the recent State of the Union message. 1) Biden failed to acknowledge the importance of re-establishing American energy independence and needs to unshackle closed pipelines and drilling. 2) The domestic part of the speech was just a rehashed list of Build Back Better big government programs that have already been voted down. Biden mentioned the word inflation but cannot admit his party caused the problem nor that he has any solution for it. 3) His scant recognition of the crisis he created at the border was a mere mention of using electronic surveillance to deter drug smuggling â while actual drug smuggling and human trafficking is currently occurring. 4) Bidenâs claim that he and the Democrats are for funding the police was another lie to the American people. 5) Bidenâs failure to acknowledge the deaths of 13 American service members because of the botched Afghanistan withdrawal was shocking and jarring. Still a weak president!
1. Biden admin has granted more permits for drilling on public lands than Trump did.
2. Biden is trying to pass parts of Build Back Better rather than push one big package. Sorry you didn't like the notion of Buy/Build American: that played so well with the Trumpistas when Donnie was pushing it.
The Dems did not cause inflation. That you think this shows you do not keep up with the news.
3. Biden did not create problems at our southern border. Human and drug trafficking are going to keep occurring regardless of who's in the White House.
4. There is a division of opinion within the Democratic party on de/funding the police. The left wing of the party wants defunding while the majority of the party supports current or improved funding levels along with needed reforms in police practices and reductions in the types of responsibilities forced on police in the streets.
5. Did Trump take responsibility for letting the Taliban take over Afghanistan? Or for helping to kill hundreds of thousands of Americans with his lies and incompetent handling of Covid?
For all of Biden's shortcomings I'd take him over the massively incompetent Putin-loving Trump.
These points are what stood out to me during the recent State of the Union message. 1) Biden failed to acknowledge the importance of re-establishing American energy independence and needs to unshackle closed pipelines and drilling. 2) The domestic part of the speech was just a rehashed list of Build Back Better big government programs that have already been voted down. Biden mentioned the word inflation but cannot admit his party caused the problem nor that he has any solution for it. 3) His scant recognition of the crisis he created at the border was a mere mention of using electronic surveillance to deter drug smuggling – while actual drug smuggling and human trafficking is currently occurring. 4) Biden’s claim that he and the Democrats are for funding the police was another lie to the American people. 5) Biden’s failure to acknowledge the deaths of 13 American service members because of the botched Afghanistan withdrawal was shocking and jarring. Still a weak president!
We were importing about 7%...now I would surmise virtually nothing. Not because of sanctions but because traders and shippers aren't buying...reports indicate Russia is having trouble selling 70% of its oil, and what it does sell is at a discount.
the US should be buying from Venezuela and Iran to make up some of the difference.
The US is a net exporter of oil. We don't need Russia's.
We were importing about 7%...now I would surmise virtually nothing. Not because of sanctions but because traders and shippers aren't buying...reports indicate Russia is having trouble selling 70% of its oil, and what it does sell is at a discount.
the US should be buying from Venezuela and Iran to make up some of the difference.
Biden is compromised by son Hunter's activities. Biden refuses to call Putin's actions war crimes but more importantly also steadfastly refuses to stop the importation of Russian oil, an act that will actually hurt Putin more than anything else we can do. We currently import 10% of our oil from Putin.
Biden refuses to call Putin's actions war crimes but more importantly also steadfastly refuses to stop the importation of Russian oil, an act that will actually hurt Putin more than anything else we can do. We currently import 10% of our oil from Putin.
Biden refuses to call Putin's actions war crimes but more importantly also steadfastly refuses to stop the importation of Russian oil, an act that will actually hurt Putin more than anything else we can do. We currently import 10% of our oil from Putin.
I guess you're willing to pay a few extra dollars on a gallon for the Ukrainians.
Biden refuses to call Putin's actions war crimes but more importantly also steadfastly refuses to stop the importation of Russian oil, an act that will actually hurt Putin more than anything else we can do. We currently import 10% of our oil from Putin.
Biden refuses to call Putin's actions war crimes but more importantly also steadfastly refuses to stop the importation of Russian oil, an act that will actually hurt Putin more than anything else we can do. We currently import 10% of our oil from Putin.
Gosh, you're right. Hunter's paintings just might cause WWIII...