Criminal indictments coming for Trump.

[audiohi]

BoogieMan
B) the biggest reason that the frackers aren’t fracking like they used to is because banks won’t lend them money like they used to. That’s probably because of the multitude of bankruptcies resulting in banks not getting their loans repaid. As a result, most of the remaining frackers are having to fund new drilling from current operations and they are not able to drill like they used to.

Excellent point which I had completely forgotten about!


March 30, 2021
U.S. Shale Output to Further Erode Even as Oil Surges, BNEF Says
https://www.bloomberg.com/news/artic...rges-bnef-says

U.S. shale oil production is set to decline through at least 2022 as explorers resist the temptation to start drilling again despite a rally in crude prices, according to a BloombergNEF analysis.

As most drillers continue to focus on paying down debt and returning capital to shareholders instead of pursuing growth, production in the five major U.S. oil shale plays may shrink another 485,000 barrels a day by the end of this year, finishing December with 7.1 million barrels a day, BNEF analyst Tai Liu said in a note to clients on Tuesday. Output may further erode to 6.95 million barrels a day next year based on BNEF’s production models

“It could be a while before U.S. oil companies feelcomfortable growing production again,” said Liu. “A number of producers said they will need to see a structural improvement in the outlook for global oil supply and demand before directing more capital to the drill bit.”

October 1, 2020
U.S. oil producers on pace for most bankruptcies since last oil downturn
https://www.reuters.com/article/us-u...-idUSKBN26M7EM

Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies since the 2016 shale downturn.

The United States grew to become the world’s largest oil producer at nearly 13 million barrels per day (bpd), led by shale companies. However, those companies, in order to maintain high levels of production, need to keep drilling new wells to offset the swift decline rates from each site. Many shale producers took on heavy debt to finance their operations.

Despite the industry’s growth, investor returns have been weak for years, and share prices struggled even as the broader Standard & Poor’s 500 stock index set ever-higher records.

 

[Hammerhead]

These oil companies are trying to recoup the losses they had during the shutdown..

 

[armedoldhippy]

These oil companies are trying to recoup the losses they had during the shutdown..

people don't drive as much when prices rise. thus, they make more per gallon, but sell fewer gallons. less sold is more in storage, which normally drives prices down. thus, we get to ride the profit/loss yoyo with them while they grit their teeth & gripe "we only raised prices 25% ! go for a fucking ride, you damn cheapskates...go to the beach, buy a v-8 for christs sake!" LOL! their "losses" were only incurred for a short period of time during the shutdowns. they STILL made bank overall...they "shut down" twice a year to re-boot the formula for summer & winter driving, for every hurricane that peeks up the Gulf of Mexico's skirt, and whenever they fucking feel like it for "political considerations/turmoil in the Middle East". whatever it takes for stockholders to feel "appreciated"...

 

[Hammerhead]

people don't drive as much when prices rise. thus, they make more per gallon, but sell fewer gallons. less sold is more in storage, which normally drives prices down. thus, we get to ride the profit/loss yoyo with them while they grit their teeth & gripe "we only raised prices 25% ! go for a fucking ride, you damn cheapskates...go to the beach, buy a v-8 for christs sake!" LOL! their "losses" were only incurred for a short period of time during the shutdowns. they STILL made bank overall...they "shut down" twice a year to re-boot the formula for summer & winter driving, for every hurricane that peeks up the Gulf of Mexico's skirt, and whenever they fucking feel like it for "political considerations/turmoil in the Middle East". whatever it takes for stockholders to feel "appreciated"...

I don't drive much.. A tank of gas can last me a month+.

Those the lost profits will always try to get that back

 

[Cannavore]

President Biden shut down the proposed extension of the Keystone XL pipeline and started to import oil from the Middle East. The United States was energy independent and exported oil until Biden and the Democrats stopped it. Now, Biden is begging OPEC to import more oil to lower costs lol.

good fuck shale oil and environmentally damaging pipelines.

nationalize oil companies, implement the green new deal and invest in nuclear power.

 

['Boogieman']

good fuck shale oil and environmentally damaging pipelines.

nationalize oil companies, implement the green new deal and invest in nuclear power.

Fuck nationalizing anything, don't want to end up like Venezuela... Im not opposed to Nuclear power, oil will always be needed.

 

[armedoldhippy]

oil will always be needed.

yeah, the guys that made buggy whips never saw it coming either, lol...

 

[Amynamous]

yeah, the guys that made buggy whips never saw it coming either, lol...

Boogie’s correct.
Oil is used to make tires, plastics and smog.

 

[armedoldhippy]

Boogie’s correct.
Oil is used to make tires, plastics and smog.

there are other sources (like hemp) from which everything made from petroleum may be crafted. tires USED to be made from rubber, lol. i think if we tried really hard at recycling, we already have more plastic than we need. smog? bah AND humbug! a totally fictional weather microclimate invented by the radical Sierra Club ecological terrorists to discredit the work real 'muricans do extracting and wasting the natural resources which we may REALLY need at some point in the future. ...

 

['Boogieman']

there are other sources (like hemp) from which everything made from petroleum may be crafted. tires USED to be made from rubber, lol. i think if we tried really hard at recycling, we already have more plastic than we need. smog? bah AND humbug! a totally fictional weather microclimate invented by the radical Sierra Club ecological terrorists to discredit the work real 'muricans do extracting and wasting the natural resources which we may REALLY need at some point in the future. ...

Do you plan on using used oil in your engine to prevent it from seizing up?

 

[h.h.]

Do you plan on using used oil in your engine to prevent it from seizing up?

Takes a few gallons a year. Not much really.

 

[bigtacofarmer]

Takes a few gallons a year. Not much really.

I hear they are developing a new lube made entirely of republican tears. Turns out there is a nearly unlimited supply. Peak production is expected around 2024.

 

[h.h.]

Appeals court: pipeline approval process can’t ignore property owners’ rights


https://libertarianenvironmentalism...l-process-cant-ignore-property-owners-rights/

…libertarian when it suits you…

 

[armedoldhippy]

Do you plan on using used oil in your engine to prevent it from seizing up?

you don't know fuck about recycling, do you? and i mentioned in the post YOU quoted how everything that can be made from petroleum has other sources? did you even read it? and then ask if i'm planning on using "used oil" as if that is not acceptable/ a moral failing or something? your reading comprehension skills and abilities are atrocious... short answer- "yes" and you'll be using it too in time, lol...

 

[Cannavore]

Fuck nationalizing anything, don't want to end up like Venezuela... Im not opposed to Nuclear power, oil will always be needed.

we subsidize oil companies with $20 billion per year in taxpayer money only for them to rip us off lol (while they also make $30+ billion collectively in annual profits). nationalizing resources will make them cheaper while we transition to other forms of energy. one of the reasons oil is so much per barrel is due to speculative trading. they are inflating the price per barrel to further profit.

nationalize energy, nationalize healthcare, nationalize airlines.

 

[Cannavore]

this, boogie, is in a nutshell why south american countries like venezuela nationalize their resources and it has nothing to do with the countries economic failures or socialism lmao..... its because the US steals them. elon just flat out admits it because most of the ameritards don't care.

 

[armedoldhippy]

lots of lithium coming online soon if developments over the underground Salton Sea go well. they are trying to tap into a vast sea of brine that is heated by the earths core to the point that cheap thermal energy can be produced, and as a bonus, the brine is rich with lithium which can be removed & the saline solution pumped into the sea it came from.

 

[GOT_BUD?]

people don't drive as much when prices rise. thus, they make more per gallon, but sell fewer gallons. less sold is more in storage, which normally drives prices down. thus, we get to ride the profit/loss yoyo with them while they grit their teeth & gripe "we only raised prices 25% ! go for a fucking ride, you damn cheapskates...go to the beach, buy a v-8 for christs sake!" LOL! their "losses" were only incurred for a short period of time during the shutdowns. they STILL made bank overall...they "shut down" twice a year to re-boot the formula for summer & winter driving, for every hurricane that peeks up the Gulf of Mexico's skirt, and whenever they fucking feel like it for "political considerations/turmoil in the Middle East". whatever it takes for stockholders to feel "appreciated"...

Out of curiosity, has anyone mentioned the massive government subsidies the oil and gas industry get from us, the taxpayers?

I see Cannavore addressed it now.

 

[GOT_BUD?]

Do you plan on using used oil in your engine to prevent it from seizing up?

Electric motors don't use engine oil.

 

['Boogieman']

nationalize energy, nationalize healthcare, nationalize airlines.

Not in our lifetime