Stunning Amount Of Oil Released By Biden Found Its Way To China, Other Countries

You know that OPEC sets crude oil prices right ? You know that US oil companies sell their oil on the open market, therefore they WANT OPEC right ? Do you honestly believe that US oil companies will sell their oil for less in America than they can get on the open world market ? THUS...OPEC sets oil prices in the US.

 

Capitalism only works when it is a young system. Once it matures, it is going to **** everyone over unless you are one of the elites controlling the markets. Time for a new system that doesn’t centralize wealth in the hands of the few.

 

Once again not without being subsidized they won't do it. Why is that so hard for you to understand?

I just said in the quote you responded to why opec and other nations could and why America wont.

 

I don't know where you're getting your info from. Covid had an impact on oil production from which we are starting to recover from.

2019 367,286 326,272 368,867 363,737 376,362 365,366 368,765 386,725 377,169 395,900 388,984 400,219
2020 396,329 371,949 397,298 357,344 301,045 312,593 339,651 327,285 326,042 322,816 333,621 343,591
2021 342,747 273,646 345,946 336,905 351,346 338,645 351,228 347,393 325,538 357,314 353,075 359,709
2022 352,449 316,851 362,329 348,849

The numbers above seem to indicate you're wrong. The second half of 2020 (during the height of the pandemic) the numbers started falling. We are starting to climb back up again with the passing of all the covid restrictions.

 

No link?
Here's one:
Read it and weep:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

 

Don't you bother to read your own sources. If you did you would discover my numbers came from your source.

 

As noted, decline is due to lower usage. Sorry, have to do better than that.

 

I did and it puts your posts into toilet flush mode. So, keep reaching for.........the straw.

 

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=M

You wish.

 

That has nothing to do with anything. Demand was different back then.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=M

 

You better read the stats at the bottom again carefully. You're in need of a life line.

 

Biden's rejection of oil leases and permits is also impacting oil production, of which we are not recovering from because he is still usurping office. His sanctions against Russian oil are also not helping the supply side of things. His releasing our strategic reserves and sending them to Europe and China and what not is not helping the supply side of things either.

 

I don't need to. I posted them already. They clearly show Trump had better numbers than Biden. Remember, you made the argument that Biden was out producing Trump.

 

Bingo.

 

Capitalism is the only system that creates wealth. It seems that you wish to replace it with a system (socialism) that steals wealth from others. Only government elites will be wealthy; everyone else will be owning nothing, eating crickets, and being slaves to government elite overlords. What a "UTOPIA", eh??

 

And now we have those dirty polluting tankers making the trek daily, so much for the environment. Keystone would be coming online today pumping 880m gallons a day. Instead, we're shipping 400m with dirty polluting vehicles.

 

I would venture to say that Biden allowing OUR oil to be sold to China is impeachable. A simple EO would have prevented it. Was he told to put his pen away by the smartest man he knows -- Hunter?

 

Are they really faithful, or paid to post?

 

I think you're saying Biden wouldn't sign a law passed by congress.

 

The Pipeline was locked up in the courts. It would have been a decade unless big government stepped in and tickled big oil on the taxpayers' dime.

 

I'm still wondering what power source the climate change hyperventilaters plan to use to produce the energy to charge all those EVs they are forcing us into.

 

Biden allowing millions of aliens to invade our southern border is also an impeachable offense. He is not doing his constitutional duty to protect the states from invasion.

 

Supply and demand dictates the price.

Because the oil market crashed hard in 2020, the old addage of "drill baby, drill!" when prices were high is no longer the mantra of oil companies. Some having gone bankrupt in 2020 before Trump swooped in to protect them has caused those that remain to play it safe and simply limit the supply. They also are uncertain towards the future regarding covid because variants are still a thing and this current administration is so ****ing clueless to dive head first into another economic shut down.

So investors are not going to "drill baby, drill" and flood the global market with crude to meet demand. They would rather sit pat and get gains for future stability.

If you read an article or two, you would know this.

https://www.cnn.com/2022/03/24/energy/gas-prices-oil-production-wall-street/index.html
https://www.npr.org/2022/03/19/1086925726/gas-prices-oil-crude-drilling

 

Look at Overitall's numbers, and pay attention in particular to the last number from the first line.
He proved you wrong, Hey Now.

 

To his defense (speaking on behalf of the lefties) he isn't Trump and that's all that matters.