US oil production expected to hit record levels in the coming year.
Thanks much joj!
I'll try to post the key points in this outlook later today.
Release Date: May 10, 2022 |
That would be great, and it would make sense. If I were in the oil business, I'd be pulling out all the stops at these prices.
Now, if we can just get the Biden admin to stop canceling oil leases/sales, maybe it will come true.
Biden administration cancels oil and gas lease sales in Alaska, Gulf of Mexico (yahoo.com)
If the US supply is approaching record levels and price is high, what could be the reason. Maybe Russian war? Nah... It's all Biden. Sheesh, too. predictable...
JOJ, Have you looked at the price charts for energy/oil/gas for the last 18 months?
How long has the Russian conflict been going on?
Now, lay that timeline accross any energy price chart and tell me the current prices are entirely due to the Russian conflict.
I think 25% would be VERY/EXTREMELY generous
While some of this is from Putin, the majority is not and the thing that made us so vulnerable to Putin was our war on fossil fuels that was ignited by Obama(in cahoots with the UN) well over a decade ago.
Biden has just been carrying the baton because the train left the station, thanks to the democrats during the Obama/Biden administration.
The fake Putin Price Hike
Started by metmike - April 15, 2022, 12:43 p.m.
https://www.marketforum.com/forum/topic/83361/
Biden/democrats big lie about fossil fuels
Started by metmike - April 16, 2022, 10:53 p.m.
https://www.marketforum.com/forum/topic/83392/
metmike: We are reaping the consequences of their war on fossil fuels. I've told you this would happen for over a decade. It was inevitable.
Killing Coal
14 responses |
Started by metmike - Nov. 21, 2021, 10:57 p.m.
https://www.marketforum.com/forum/topic/78168/
Wind/ solar/batteries
16 responses |
https://www.marketforum.com/forum/topic/69028/
And to make everything worse for everybody but the farmers, Biden made this very counterproductive move:
E15 gas this Summer
9 responses |
Started by metmike - April 12, 2022, 4:04 p.m.
So production, as it always does is going to respond to higher prices
"the cure for high prices........is high prices"
However, the low amount of investing for future production going into this (because the government is killing fossil fuels and stimulating fake green energy) is what really caused the BIGGEST problems and a longer lag in response time.
This is not just a US thing. The entire world is following this blue print, based on the Climate Accord agenda that Obama accelerated and Biden rejoined.
$555billion to fight the fake climate crisis
Started by metmike - Nov. 2, 2021, 12:19 p.m.
https://www.marketforum.com/forum/topic/76969/
So Biden's new policies are not responsible for much of it(even though they are the worst energy policies in history), as in he didn't come up with the ideas that kicked this off over a decade ago but he jumped back in embracing the war on fossil fuels as the man carrying the baton to advance the cause and in fact, added some new things, like closing the Key Stone Pipeline and promising to ban fracking on federal land.
To claim that his specific fingerprint from new policies didn't have enough time to inflict this much damage to the energy sector because he wasn't in office long enough to do it is very disingenuous.
If you want to take that approach, then let's go back to the Obama/Biden administration.......where the changes had more than enough time to obliterate coal and hurt other fossil fuel sources to promote fake green energy, like wind.
https://www.cnn.com/2021/01/26/politics/biden-halt-new-oil-gas-leases/index.html
The move is expected to be the most prominent in a series of climate actions the President will take on Wednesday, including elevating the climate crisis as a national security issue.
metmike: Again, the current situation was inevitable based on the Western worlds war on fossil fuels and Putin just caused it to happen sooner.
The war has been in the design phase. It appeared to have little/no effect during the previous admin . We have seen a 100%+ increase in the last 18 months.
Don’t worry Mike, our battery operated tanks will be climate friendly!
Sorry to bring in the politics but its the reason for a big part of this.
So the responses by one side have been nothing short of mind boggling to an objective observer of it the past 20 years.
Twisting the reason for it, the blame and the solution to be 100% the opposite of reality to support the FAKE climate crisis and war on fossil fuels. Instead of the war on fossil fuels by them that caused it.
++++++++++++++++++
It would be like blaming sunshine for the Great Midwest Floods of 1993 (-:
Or, blaming the NATURAL drought of 2012 on climate change instead of what really caused it........cold water in the Pacific/the natural La Nina.....which is the opposite of global warming.
OK, they actually did that. Same thing is happening right now for the same reasons and we're hearing the made up climate crisis reason. When the fact is, global warming and increasing global temperatures would be the best way to END the drought in the Western US and S.Plains.
La Nina/-PDO with latest Summer Forecast 4-26-22
27 responses |
Started by metmike - April 26, 2022, 6:59 p.m.
https://www.marketforum.com/forum/topic/83698/
BIG Deceit below from NPR, complete with the often used dishonest trick of showing an image of WATER VAPOR coming out of an emissions pipe to make people think that it's pollution today in an article about the climate crisis from CO2
The Clean Air Acts would never allow such pollution and CO2 has no smell, taste or color(can't be seen). https://www.calstatela.edu/sites/default/files/dept/chem/07summer/158/25-words-co2.pdf
ttps://www.calstatela.edu/sites/default/files/dept/chem/07summer/158/25-words-co2.pdf
Truth below:
Just today, we have this announcement:
The Biden administration says it is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska.
|
May 12, 2022
WASHINGTON (AP) — The Biden administration says it is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, removing millions of acres from possible drilling as U.S. gas prices reach record highs.
“Unfortunately, this is becoming a pattern — the administration talks about the need for more supply and acts to restrict it,'' said Frank Macchiarola, senior vice president of the American Petroleum Institute, the top lobbying group for the oil and gas industry."
Actions speak much louder than Biden dishonest words here in several ways.
If you are a huge player in the energy industry that's controlled by government regulations, as well as taxed(with carbon taxes on the horizon) and subsidized and supported or penalized in numerous ways and you know the governments agenda is to get rid of fossil fuels and to give all the benefits to fake green energy, what will you do with your hundreds of billions of dollars to be positioned for the future of your company?
That was a rhetorical question.
That is not a question that these huge energy entities are suddenly asking under Biden. They started asking and knowing the answer under Obama, which is why half the coal plants have already been shut down (even as China increases their coal plants) which is part of why global CO2 keeps going up.
Our loss is China's gain.
Under Biden, the answer is just being reinforced and reminding them to NOT invest too much in the future of fossil fuels because its STILL a dead end street based on HIS ACTIONS.
The DISinformation related to the hijacking of climate science(including rewriting climate history) to turn a climate optimum for life into a climate crisis because of the war on fossil fuels on a global scale had been numerous orders of magnitude greater than the DISinformation about the COVID vaccine or 2020 election.
I actually support their objective of sustainable development and spreading wealth from the rich to the poor countries.
But the diabolical methods that have corrupted science and stolen people's intelligence and their right to know the truth, in order to be able to apply their free wills to choose......are no way justifiable. In fact, it's very deplorable.
I couldn't resist commenting on the bs from, what is supposed to be a climate scientist in the NPR article above because almost nobody will recognize it.
ttps://www.calstatela.edu/sites/default/files/dept/chem/07summer/158/25-words-co2.pdf
I should say that if we go to this IPCC report it states very clearly
metmike: The IPCC was created by the UN in the 1990's to hijack climate science and rewrite climate history. Most GOVERNMENT climate scientists use their extremely biased reports intended on using the climate crisis as a scheme to obliterate fossil fuels, like it's the bible and this is climate religion. Anytime people quote from the IPCC bible, especially government climate scientists (which is most climate scientists) I know they belong to the climate religion.
In 2020, we even didn't have winter, which was really very unusual," she said.
metmike: Since global warming has contributed 1 deg. C of warming the last 100 years, suggesting the blame of the mild Winter WEATHER was from the climate crisis shows that she's practicing FAKE climate science and trying to use her credentials to spread it.
The more likely culprit was natural weather variation that could have been related to the NATURAL COLD water temps/La Nina in the Pacific and its downstream impacts around the globe.
And she didn't even tell the truth as the later part of Winter featured near record cold there from WEATHER not CLIMATE.
The weather pattern will set the European continent into a locked-in position, meaning the cold will likely extend for days, lasting into mid-March. Depending on the potential waves interacting with the cold air mass intrusion, frontal systems could also bring some decent amounts of snow across the east, Ukraine, Belarus, Romania, and a large part of the southern Balkans in particular.
metmike: But who would know any of that?
People read articles like this with DISinformation and ..............just believe it because it supposedly came from sources that know more than them. Even a climate scientist from Ukraine, in this case.
The saddest part is that China and India are ramping up coal production and increasing coal greater than we even hwave coal plants left to close down.
CO2 is well mixed in the global atmosphere.
So we are intentionally punishing our country with the worst energy policies in history for a reason that China and India and Russia all know is a fake climate crisis.
We have enough coal to produce cheap, reliable electricity for over 100 years.
And we’re on The verge of shutting it down because of a manufactured crisis.
don’t forget, I’m an environmentalist.
This reminds me of the ancient practice of bloodletting by ignorant doctors many centuries ago To treat sick patients.
The objective of killing fossil fuels that started over a decade ago is already taking a toll on our economy.
The current energy doctor in the White House is going to’ kill the patient with the anti fossil agenda his party has been pushing hard for almost 2 decades, with Gore, Obama, Biden and Kerry being key political leaders of this agenda during that time frame.
I suppose the explosive wheat prices have little to do with Putin.
Wheat wasn’t explosive during the last administration.
Gosh, you're tight JOJ.
Whaet and Oil are practically the exact same thing with nearly identical market dynamics.
Thanks joj,
yes, wheat has been affected by Putin.
Wheat has its own set of fundamentals, mostly but not entirely independent of oil as does corn and beans which are also at record high prices right now and yes, of course Putin played a role in the price of grain prices spiking even higher than the already extremely high prices.
There are a host of factors but low stocks is number 1. I was up much of the night trading, so give me until later to show grain prices and reasons.
interestingly, low supplies of fertilizer are a factor and it’s really extreme price related to the war on fossil fuels because we use ng to make most fertilizer..
It will sound like I’m just bashing Biden but his allowing E15 gas this Summer was the exact thing to make it worse By using up more of the corn supply for inferior fuel,, when we need every kernel of corn we can get.
grain prices compete with each other for acreage too. When one is high, it pulls the others up. Wheat is also used as animal feed instead of corn or bean meal when it’s cheap enough. Not his year.
the drought in the s plains, and hot/dry summer forecast.planting delays from such a cold April, start to may are also bullish items.
ukraine and Russia are huge wheat producers. Ill copy the link to the graphics and discussion on their production I did earlier this aspring,when back in the office.
UPDATE: I'll just start a new thread with Ukraine and Russian production/exports of grains and thanks for the great idea!
Also, here's another new thread to help everybody understand the reality of the global energy situation with regards to coal, CO2 and the fake climate crisis. Most people would likely be shocked if they knew the truth.
China/India ramping up coal production
Started by metmike - May 13, 2022, 2:40 p.m.