Gas Prices

[wayfair]

Oh gee, another oil expert in our midsts.



TOS.

exactly what I think when you post

go change Pickens diaper while your at it

 

[realbrown1]

Oh gee, another oil expert in our midsts.

If during the BUSH administration, output for OPEC was at 99.9% as BUSH told america as the reason prices were at record levels, how do you explain that OPEC is now operating at roughly 61% output?

Thats a 38% cut in production since BUSH left office.

Saudi Arabia and OPEC have cut production and cut it deep to attempt to keep prices high at the request of the American oil companies.

They CANT cut any further as they are losing market share and they are also at a point where shutting down wells would put their own people on the unemployment lines.

Of course, I dont for one second think you know or understand the oil market more than what you hear on fox news.

OPEC is losing market share to libya, iran and south america and now the USA and Canada.

Cutting production doesnt help Saudi Arabia, it only helps the american commodity trader and the USA oil companies maintain inflated prices.

The increase in daily production in the USA of 1 million barrels a day is a ginormous contribution to the world markets and the largest cause of the worlds glut of oil.

Without this increase, the world wouldnt be in a GLUT.

Hopefully this helps.

TOS.

So, in the world of TROLLS, the more product you have, the higher price you get to charge?
Doesn't sound like any economic principle I have ever heard.

 

[The Other Side]

exactly what I think when you post

go change Pickens diaper while your at it

As if I cared what you thought.

TOS.

 

[The Other Side]

So, in the world of TROLLS, the more product you have, the higher price you get to charge?
Doesn't sound like any economic principle I have ever heard.

Brown, leave the oil disscussion to the grown ups. Its way out of your league to understand.

TOS.

 

[CaliforniaPaul]

Brown, leave the oil disscussion to the grown ups. Its way out of your league to understand.

TOS.

"Education is no excuse for ignorance'

 

[wayfair]

As if I cared what you thought.

TOS.

you do, you can't help yourself.

 

[realbrown1]

Brown, leave the oil disscussion to the grown ups. Its way out of your league to understand.

TOS.

I understand that you are a TROLL.
I understand that you a full of hatred.
I understand that you only see and hear what you want to see and hear.
And I understand that you live in a different reality than most people.

 

[BrownArmy]

I understand that you are a TROLL.
I understand that you a full of hatred.
I understand that you only see and hear what you want to see and hear.
And I understand that you live in a different reality than most people.

Except in this case, he's correct.

Of course worldwide oil industry practices vis-a-vis supply vs. demand. vs. price doesn't sound like any economic principle you've ever heard of.

Did you think that the oil producers of the world have ever worked on strict free-market supply and demand? Please.

 

[The Other Side]

So, in the world of TROLLS, the more product you have, the higher price you get to charge?
Doesn't sound like any economic principle I have ever heard.

What is hard to understand about what I said.

When BUSH was in office, he BLAMED the high prices on the limits of production "claiming" that we were getting 99.9% of the oil available out of the ground and there was NO MORE to produce. Given that rationale, Demand was exceeding supply even at 99.9%.

Prices skyrocketed to the highest point in history.

For 7 1/2 years, oil was over 4 dollars a gallon until 4 months before the 2008 election when it crashed to 35 dollars a barrel.

At that point, OPEC and American producers cut production and slowly drove the price per barrel back up to 90 dollars a barrel. Each middle quarter for two years, the oil producers drove the price per barrel over 100 dollars and brought it down at the end of every quarter.

In the meantime, President Obama took action to increase USA production by putting into effect policies that took away offshore and land leases that oil companies held, but did not drill on.

This policy led to increased drilling and increased production here in the USA. After two years of this policy, the USA now exports more oil than it imports.

That created a problem on wall street for commodity traders. Increased supply brings prices down, and OPEC worked with the USA producers to begin cutting production to maintain the high price per barrel.

The high price per barrel gave countries like RUSSIA the opportunity to rebuild not only their war machines, but their banking and infrastructures.

Terrorist countries made hundreds of billions of dollars from inflated oil prices and that money helped to fund ISIS, The Taliban, Al Qaeda, Al Shabab and others in the region.

The Saudis WARNED in 2011 that increased USA production would be bad for OPEC, and they attempted to halt the price of oil at 70 dollars a barrel. The GREED of the american oil producer wasnt going to have any of it, so they started shutting down refineries and operations, or selling them to other producers and letting them shut them down.

It held for a while, but worldwide production kept increasing because LIBYAN oil came online, as well as IRAQI oil.

This increase of oil on the market helped to create the GLUT and with increased USA production at 1 million barrels a day, the world now sees more oil than it can burn.

Because of this, the price per barrel is sinking.

The ONLY way for the USA producers to get the price per barrel back over $90 bucks a barrel is to CUT PRODUCTION and LIMIT supply.

This in conjuntion with a reduction in consumer habits by driving alternative energy cars and furthered by President Obamas insistence that auto makers increase the miles per gallon has helped to create a massive glut worldwide.

The oil companies have been exposed and their shady practices are now out there for everyone to see in plain view.

"drill baby drill" was just something the right wing knew people who didnt understand the oil market would repeat.

They know that the more oil that is available the lower the price.

President Bushs assertion that "we" cant get anymore oil out of the ground was a complete lie and for almost 8 years, the oil industry wiped out the american consumer.

TOS.

 

[upschuck]

I don't know who is right here, but I see TOS backing up his arguments, and no one else.

If you blame the Pres for high prices, you got to give him credit for lower prices as well. Kudos, Pres Obama.

 

[The Other Side]

Read for yourselves.. from May 2011

http://www.forbes.com/sites/robertl...-saudi-arabia-wants-oil-price-70-80-a-barrel/

http://www.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/index.html

Out of their own mouths. Not mine.

What they feared is now happening, USA is producing more oil than it imports, market share is being lost to the USA and by not CUTTING production any further, prices per barrel will continue to drop.

The inflated days of oil are over, unless the USA producers can CUT supply off intentionally and drive up the price by limiting supply to the refiners.

OPEC and the other oil producing countries will keep driving the price down.

TOS.

 

[wayfair]

with all this insight, why don't you leave and go invest?

 

[BrownArmy]

with all this insight, why don't you leave and go invest?

In what?

Are you following this thread?

 

[realbrown1]

I don't know who is right here, but I see TOS backing up his arguments, and no one else.

If you blame the Pres for high prices, you got to give him credit for lower prices as well. Kudos, Pres Obama.

Can you name 1 thing Obama has done that could even do anything that could have lowered the price of gas in any way?
The answer is no.
We have lower gas prices at the moment for a few reasons.
The US, Canada, Brazil and a few other countries has increased their oil production dramatically in the last few years.
The world has been in recession for the last few years and world oil consumption has decreased.
In spite of these facts, Saudi Arabia has chosen, for reasons of their own, not to decrease it's oil production.
Hence, a temporary lower gas price bubble.
Don't listen to the TROLL. If you do, you only get variations of the same story. Republicans are stupid and evil. And the Democrats are here to help us.

 

[upschuck]

Can you name 1 thing Obama has done that could even do anything that could have lowered the price of gas in any way?

Like I said before, if you blame him for high prices, he gets the "blame" for low prices, too.

The US, Canada, Brazil and a few other countries has increased their oil production dramatically in the last few years.
The world has been in recession for the last few years and world oil consumption has decreased.
In spite of these facts, Saudi Arabia has chosen, for reasons of their own, not to decrease it's oil production.
Hence, a temporary lower gas price bubble.

I will take a temporary bubble over continued high prices any day.

Don't listen to the TROLL. If you do, you only get variations of the same story. Republicans are stupid and evil. And the Democrats are here to help us.

I can see the good on both sides of the aisle, not just the one, and detest the other. Therefore I give credit where credit is due. That is a major problem with the country today, the staunch partisanship on both sides of the aisle.

 

[realbrown1]

Like I said before, if you blame him for high prices, he gets the "blame" for low prices, too.

I will take a temporary bubble over continued high prices any day.

I can see the good on both sides of the aisle, not just the one, and detest the other. Therefore I give credit where credit is due. That is a major problem with the country today, the staunch partisanship on both sides of the aisle.

I had given you a little more credit than you apparently deserved.
Those are children's arguments.
Don't tell me on Halloween, you sit in the pumpkin patch waiting on the great pumpkin?

 

[upschuck]

Can you name 1 thing Obama has done that could even do anything that could have lowered the price of gas in any way?
The answer is no.
We have lower gas prices at the moment for a few reasons.
The US, Canada, Brazil and a few other countries has increased their oil production dramatically in the last few years.
The world has been in recession for the last few years and world oil consumption has decreased.
In spite of these facts, Saudi Arabia has chosen, for reasons of their own, not to decrease it's oil production.
Hence, a temporary lower gas price bubble.
Don't listen to the TROLL. If you do, you only get variations of the same story. Republicans are stupid and evil. And the Democrats are here to help us.

Do you think that just maybe Pres Obama may have had some input/reason for this? TOS gave reasons for it, you just said you don't know. I don't know the oil industry, so I look at arguments given, and pick the best. One side give rational reason, one side says "I don't know", which would you chose?

I had given you a little more credit than you apparently deserved.
Those are children's arguments.
Don't tell me on Halloween, you sit in the pumpkin patch waiting on the great pumpkin?

What do you disagree with? I have said nothing here that a non staunchly partisan person would disagree with.

 

[realbrown1]

Do you think that just maybe Pres Obama may have had some input/reason for this? TOS gave reasons for it, you just said you don't know. I don't know the oil industry, so I look at arguments given, and pick the best. One side give rational reason, one side says "I don't know", which would you chose?



What do you disagree with? I have said nothing here that a non staunchly partisan person would disagree with.

You are listening to a BC TROLL. I did not label him that. Think about it.

 

[oldngray]

Obama did nothing to lower oil prices but he did take actions that tried to limit production (limiting new drilling and exploration). The lower prices are because of a global glut and other countries over producing. Obama did say he wanted higher prices to attempt to force people into alternative energy and his policies reflected that.

 

[realbrown1]

If you are referring to TOS's claim that oil prices are down because Obama made the oil companies drill on government leased land or lose it, he's wrong.

http://www.forbes.com/sites/danielfisher/2012/10/17/did-obama-really-take-away-those-oil-leases/