How does anyone take this administration seriously. They stick the knife in a number of US oil projects (and scream GREEN from the roof tops) and then call OPEC and ask them to pump more oil. I guess it's okay in everyone elses backyard, but ours.
Biden administration calls on OPEC to increase oil production as gas prices rise - Washington Times
Thanks Jim!
There absolutely is NO climate crisis. It's political based on a political ideology.
Everyone believes in it because all the gatekeepers have been screaming about the climate wolf!! coming for over 3 decades............and, now when we have extreme weather that has almost all happened before, we are told "the climate wolf is here!!!"
People don't have the historical weather data or understand climate......it was the perfect realm to hijack.
They even rewrote climate history to wipe out the Midieval Warm Period that was at least this warm 1,000 years ago, and they only use climate charts that go back that far and tell us the warming is unprecedented.
No kidding. This is exactly How they did it:
The United Nations, in the late 1980's, created the IPCC(InterGOVERNMENTAL Panel on Climate Change) which has served as the world's authority for all the climate scientists, most who work for governments.
Their reports are treated like the bible is for people of faith......climate crisis religion!
This was their last political report that just came out this week:
https://www.marketforum.com/forum/topic/73384/
I can show how big the farce and disconnect is with them ramping up their cries this week of "we're killing the planet" by showing 1 link.
I think I'll re-title it "Death by Greening"
https://www.marketforum.com/forum/topic/69258/
Sorry to intrude in trading forum land but this absolutely relates to the energy markets.
I already take the “climate crises” with a grain of salt. I am more so struck by the hypocrisy of The Biden admin pretending we don’t need oil and becoming an obstacle in the US, then turning around and calling his oil friends in other countries to pump more oil.
I watched the movie Idiocracy the other night and the parallels are scary.
Agree completely Jim.
His very bad move that harmed US energy interests in the US was 100% political....to appease the fake climate crisis, fake green energy far left crowd.
His move now, is based on something else.
I think Biden is very smart. Since Oil is the 2nd most precious item on the planet earth (The first being clean drinking water) it is very smart of him to SAVE our oil, while the US consumes massive quantities of other peoples oil. In the end, you are taking "Foreign Oil" and giving them pieces of paper that will be worthless one day. Seems smart to me.
Richard we spent years even decades proving the fallacy of that argument and thousands of soldiers lives and trillions of fortune supporting the crazies in the middle east. We became energy independent under Trump and now you want us to believe Biden is smart
Nothing about Biden or his policies or his embrace of the lefts in his party indicate to me that he is interested in saving our oil. I think he is trying to save his political a$$ as the polls indicate he is losing support and that the 2022 elections are not going to bode well for Democrats.
Actually, what Richard said is profound and what I've said tons of times in the past, when discussions about peak oil and running out and related to that.
Let's gobble up all of OPEC's oil now, while there is an abundance of it at prices that are likely to be cheap, compared to what's ahead and where/when they are willing to part with it.
If this were to be true below(probably they just want us to think that) then oil prices in the decades ahead could soar higher as it runs out. Don't worry, we will NOT stop using fossil fuels in 2035 or even 2050.........that would be impossible unless hydrogen technology or another source was invented.
If/when that happens. The US would be sitting on oil worth MUCH MORE than today and provide energy security when it will be even MORE important!
Is that why Biden is doing this?
Near 0% chance of that but his short term bad choice for current Americans could be saving our valuable fossil fuels for our children and grandchildren!!
Saving the greening planet for our children? Heck no. It's a climate optimum and fossil fuels are CAUSING that. They are the authentic green energy.
Saving our valuable fossil fuels for our children? Heck yes!
+++++++++++++++++++++++++++++++++++++++++++++++++++++
https://www.marketforum.com/forum/topic/70824/#70826
Many sources tell us that crude oil will run out in just over 50 years.
Personally, I think they will keep discovering more oil as they have been telling us we are getting close to peak oil and will run out in just XX more years............for the past 40 years.
https://chariotenergy.com/chariot-university/when-will-fossil-fuels-run-out/
Richard in your first post you said "biden is smart" He is giving pieces of paper and and
America is saving a precious resource....in your second you said he was saving his own ass....just clarifying...I think both could be true but as usual his messages are a mess
Mike, that was me that said he is saving his butt... :)
ohhh I see know....thanks Jim and sorry Richard
"Mike, that was me that said he is saving his butt... :)"
Jim,
That was mcfarm that made the comment not me (-:
I think that there were some things that Biden did that were good and some things that he did that were not good.
I think that there were some things that Trump did that were good and some things that Trump did was bad.
overall who did more things correctly is a political discussion, which I am not interested in at this time.
As far as oil is concerned, I have one opinion that seems to be different than most Traders here. I am sticking with my opinion on oil at this time and I do think that using Foreign Oil while saving our oil is smart. The thought that we have an infinite supply is very difficult for me to imagine. Even if the entire earth was made of one ball of oil, since NEW oil is not being made, this mean that when we use one Barrel of oil, the remaining supply has been reduced. Since the world uses 100 Million barrels per day -- non-stop day after day, it is hard to imagine how it will last forever.
Thanks Richard,
You have followed the oil market closer than anyone here. Appreciate your views.
Just thought of a huge reason for Biden to want gas prices down.
This administration plans on imposing carbon taxes on all energy.
Carbon taxes on those that mine fossil fuels(coal companies)
Carbon taxes on those that burn them to generate electricity(power plants)
Carbon taxes for those that burn them for transportation(fuel)
All to save the planet but not really. Really just to generate more tax revenues for the government.
However, with gasoline and natural gas prices soaring higher, consumers are going to really squawk over this, adding to the already high prices they pay.
Making the save the planet from the fake climate crisis narrative a bit less popular when people start seeing it hit their pocketbooks!
Richard while the earth may not be making "new reserves of oil and gas" that does not mean the earth's oil and gas reserves are static. As a teenager in the 70s while working as a rig hand in the Williston Basin I would routinely hear someone shout "oil on the pits" while drilling through the Bakken formation. The driller would growl and tell us our work was not done as "that Bakken is just too tight."
Fast forward to ND in 2021 where the Bakken and its sister shale produce 97% of the 1.1M Bbls of oil produced daily in ND. Technology.....hz drilling and the large staged hydraulic frac, created these "new reserves". Throw in near 0% interest rates also.
As the commodity prices go so go the volumes of oil and gas reserves. These reserves don't disappear nor are they created out of whole cloth. Discovered reserves don't get measured if not extractable at current prices.
Hubbert tried to predict the worlds reserves and we all know how that has turned out.
You make some good point, but just remember when you talk about this. The people who voted for Trump knew this before Biden took office. The people who voted for Biden, have a hard time knowing what day of the week it is. I have personally had conversations with Biden supporters and some of them take being Stupid very seriously. They will never vote Republican and it does not matter how miserable there life gets. Also, this talk with lower oil from Biden, We are at $69 and not really going down. I do not see OPEC doing much from Biden's request. It was just a bunch of hot air from a Politician that both sides like to do from time to time.
Mike, I 100% agree with your assessment of what Biden wants to do. There is no rational reason for car manufacturers to state they are going 100% electric unless they know 1 of 2 things. That there is a huge jump in battery tech around the corner or that they have been warned that the Government is going to tax IC cars out of existence.
If electric cars sold without any government incentives, I would say they have rounded the corner, but until there is a better battery, it is a niche vehicle. That why sales are just a faction of the over all market. And I have ridden in a Tesla and it was awesome. But I also heard about the trials and tribulations of making sure it is charged and how long it takes on a 120 outlet.
Thanks Jim!
There are definitely a few challenges that they don't tell you about because it would dampen the enthusiasm for electric cars and fake green energy.