yadig
Well-Known Member
What did you expect from a man with 50 years of government welfare?
FedEx stock performance
- Thread starter zeev
- Start date
The reason prices started climbing was due to the fact that oil companies lost billions when oil prices collapsed during COVID as in NEGATIVE $35 a barrel. Show me a publicly traded company impacted by the collapse whose SEC filings did NOT address the price collapse and what it was going to do about it in their forward looking guidance. It worked alright. Simply take a look at their earnings and stock prices compared to what they were during COVID.
As a GOP conservative the basic tenets of your party is free market capitalism. It has good points and bad points depending on which side of the supply/demand fence you're on. And with the oil companies you are seeing the ugly side of capitalism .
No matter what you personally think US energy policy should be. The only policy that matters is what Big Oil thinks it should be and WILL be.
Wrong again. The prices didn't start climbing until Biden put a moratorium on new drilling on Federal land. We were well into the pandemic at that point and past the negative prices which were a result of Saudi Arabia flooding the market with oil at the very time we were driving a lot less due to the pandemic. Voters know this and polls reflect it.
DOE has more than 8000 approved federal land leases waiting for somebody to take the chance on drilling them. Drillers already have enough geological data to identify whether or not the site is a good one and that can decide if it's worth the risk. I make certain to watch Squawk On The Street in the AM and Mad Money in the evening nearly every day. They've had all the CEO's on. Apache, Pioneer Devon KMI, Cheniere, RBN Tellurian Chevron Exxon and on and on. They had Valero on tonight They all say the same thing. The White House will not tell them what to do or how to run their companies regardless of who is sitting behind the desk. And whether it's private or federal land it still comes down to risk versus reward. More importantly Rusty Braziel pointed out that the sweet spot for drillers is the $80-90 range and could hit $100 but it risks demand destruction as we are beginning to see with LNG . And oil could go to $70 if the economy slows dramatically which would result in reduced activity and less oil coming onto the market.
And believe me, Rusty Braziel knows more about the oil business than Fox News could ever possibly know about it but are for some inexplicable reason are able to make dumb people believe the nonsense they're telling them about the business.
DriveInDriveOut
Inordinately Right
Big oil thinks the Democrats are going to continue to attempt to destroy the fossil fuel industry because that's what they have pledged to do
Then explain to me how the oil companies are gouging when profit at the pump is 7 cents a gallon but taxes are 36 cents a gallon? You've got a president who's telling banks not to lend to oil companies. That it's a sunset business that eventually will be legislated out of existence. The fact is the Federal government controls a huge amount of land in the West and is limiting access to it. You said those leases are waiting for someone to risk drilling on them. That takes time and money. Money that will be thrown down a hole not only if they don't produce but the government shuts them down eventually. Let's go back to what was happening before Biden was in office and see if that makes a difference. Biden says he's doing everything possible to reduce prices. Everything except reversing his policies that he implemented shortly after taking office. By the way little of this is coming from FOX and anything coming from an NBC related network is pro Democratic Green New Deal propaganda.
What is the core reason? It's an over dependence on dead plant life lying thousands of feet below the surface of land much of which belongs to nations that have for decades used it to blackmail the US and it's allies and is increasingly harder and more expensive to get at . Now you're a constitution guy so show me where it provides you with a constitutionally guaranteed access to speedy, convenient and cheap transportation.
The taxpayers of this nation did not hoark up a $107,000 hairball just so you could sit there all day at your dad's house watching Fox News. Now after spending your entire life running around to wherever you wanted to go to at that particular moment being limited due to high energy prices it has to be a difficult adjustment for you as evidenced by your singling out the Green New deal but exempting the other Democrat social programs that you've benefited from including the one flat out saved your very life. But once again it comes back to the GOP mantra...."If you're not rich....it's your fault". And it has zero tolerance for the excuses you might have to offer as to why you're not.
DriveInDriveOut
Inordinately Right
Bingo.
Democrats run on destroying these companies, then when they don't invest in more oil drilling, Democrats blame it all on them and call them greedy.
Democrats want high gas prices. That's the bottom line.
DriveInDriveOut
Inordinately Right
Yikes. The bitterness and jealousy really coming out early today.
They'll drill down as deep and as often as you like provided that you're willing to PAY the price needed to get it out of the ground , transported and refined. If you ain't willing to PAY it.....they ain't going to do it. it's a simple as that. The most basic economic reality. The willing seller and the willing buyer. Now just exactly what part of that equation you don't understand.
You would benefit greatly from psychotherapy. Dead plant life? Try dead dinosaurs. And who said it was constitutionally guaranteed? Even so one of the bedrocks of our economy is affordable transportation. Not just personal but commercial as well.
Obviously you don't have any answers because you always go personal when you don't. We have plenty of obtainable oil in this country. We just have to move the climate nuts out of the way to get at it.
And brother, if you think the programs created by the Democratic Party in its glory years are comparable to the ridiculous stuff they've dreamed up lately then you're too far gone to reason with.
DriveInDriveOut
Inordinately Right
I don't understand why Democrats run on the promise of destroying the fossil fuel industry, and then when they do what they said they would do, they lie and gas light about what they just did.
It's so silly.
You want the fossil fuel industry destroyed. You know it, I know it. Weird that you won't admit it.
Are you going to stand in defense of your party and turn down those evil Democrat passed social programs? YES OR NO? It's simply a question of will you or won't you and if you do it's a direct contradiction of your personal political ideals and the principles of your party. And don't feed me this "I paid into it B.S" It will not stand .
Now if you want to blame the "climate nuts" for high oil prices then tell me what impact does environmental law compliance have on oil prices on a cost per barrel basis. Let's see your numbers.
When did I say that I wanted the fossil fuel industry destroyed? What I support are the efforts to free us from our obvious over dependence on it. You and VT gripe constantly about the price of crude oil but wrongly believe that the industry will again allow the price of oil to collapse just so you can come and go as you please cheaply.
Following the price collapse of two years ago the industry for the first time in it's entire history has developed and adopted a supply management system.
Is it price fixing and collusion? Why don't you go find out if there is and do something about it?
DriveInDriveOut
Inordinately Right
No I don't.
You're the one constantly griping about Vantexan. Just scroll up, you're rambling and throwing personal attacks.
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DriveInDriveOut
Inordinately Right
That's the same thing.
You support a President who promised to destroy the industry. You want to be "free" of it.
DriveInDriveOut
Inordinately Right
Hell yes!
But unfortunately that's not an option, the government forces you to put your money into these programs.
Flew from Orlando to Buenos Aires via Miami for $168. $237 in the other direction. I worked a long time to get that benefit when I retired from FedEx. And I mostly walked everywhere there. You think you know but you don't.
If people didn't pay into Social Security and Medicare we wouldn't have them. Something Democrats back then understood. The current crop of Demwits think we can spend our way out of anything. Which is why we have this inflation. Do you really want to defend that?
