White House cites oil 'supply issues' amid gas price surge, promises more pressure on OPEC

Discussion in 'Latest US & World News' started by sec, Oct 27, 2021.

  1. Giftedone

    Giftedone Well-Known Member Past Donor

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    No one said it did .. and it would be moronic to state that one action to decrease production - single handedly caused the global supply shortage. What is also moronic is to claim that policies to decrease domestic production - decrease in investment - and so on - have not had a part in the shortage.
     
  2. fmw

    fmw Well-Known Member

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    What I said above.
     
  3. Pro_Line_FL

    Pro_Line_FL Well-Known Member Donor

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    We'll see. Partisan complainers usually find something else to complain about when things settle. It doesn't even make any sense to keep complaining about things after they stop being issues.
     
  4. Heartburn

    Heartburn Well-Known Member

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    It don't have anything to do with Bible prophesies or any other distraction you want to toss out there. It has to do with scrapping the Trump policies that were industry friendly and made us energy independent and no longer reliant on OPEC to keep the lights on. This $3+ gas is by design and it ain't some oil Sheik we can blame this on, it's the handful of radical sob's in control of the government today.
     
  5. fmw

    fmw Well-Known Member

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    True. Perhaps the fact that I'm not a partisan helps explain.
     
  6. Chrizton

    Chrizton Well-Known Member

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    Like oil is gonna get delivered in our clogged up ports.....
     
  7. Same Issues

    Same Issues Well-Known Member

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    Mostly irrelevant. Oil is delivered directly to tank storage facilities or refinery docks by water, both of which are not having the same problems. No hold up in imports or exports of petroleum products here on the Houston ship channel.
     
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  8. Chrizton

    Chrizton Well-Known Member

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    I was being cheeky
     
  9. Josh77

    Josh77 Well-Known Member Past Donor

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    Soon no energy company is going to want anything to do with oil. In 1919, energy return on investment for oil exploration was 1000:1. Now it is 5:1.

    actual production had an energy return on investment of 25:1 in the 1970s. Now it is down to 10:1 in the US, and dropping.

    All the profitable easy sources of oil are long gone. The harder to reach lower quality sources are all that remain. Soon energy companies are going to scoff at the idea of fossil fuels, because there will be higher energy returns from other sources.

    if we don’t make a transition soon, the global economy is going to be sucking.

    here is a great study on the subject:

    https://royalsocietypublishing.org/doi/10.1098/rsta.2013.0126
     
    Last edited: Nov 4, 2021
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  10. Mircea

    Mircea Well-Known Member

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    Repeat this over and over until you get it: I will be dependent on OPEC oil until the day I die.

    There is absolutely nothing -- as in no thing -- that you can do to be independent of OPEC.

    Nothing. Period.

    Well...wait...I misspoke.

    There is one thing you could to.

    Build a time machine and then travel back in time and move the continents around so that all the light and very light oils that are in the Middle East and North Africa are where North and South America are now.

    Your entire life revolves around OPEC.

    Every time you pop a pill in your mouth, whether it's prescription or OTC, you are basically eating Saudi Arabia.

    When you're in the frozen foods section and you're grabbing those burritos and pizzas and all that other crap, you're eating Venezuela.

    Yeah, you're eating Hugo Chavez....mmmh, Hugo's good.

    Every time you jump in the shower, you're smearing Kuwait and Iraq all over your body.

    Your wife/girlfriend/daughter smears Bonny Light from Nigeria all over her face when she puts on make-up.

    You wash your clothes in Mexico. Well, okay, that's not OPEC but it is not the US.

    Those beautiful colors in the paint on your car, the dyes in your clothes, the inks that make all that beautiful plastic packaging comes from Oman and Qatar and the UAE.

    Stop importing OPEC oils and you just killed 50 Million Americans and bankrupted Medicare and Medicaid and your just quadrupled the cost of your health plan coverage.

    Wait...your health plan coverage wouldn't quadruple. Health insurance companies would simply stop covering prescription drugs and then you can pay for them out-of-pocket by cancelling your cable, internet, cell-phone, selling off your 2nd and 3rd cars etc etc.

    If you don't want those 50 Million Americans to die, you can slaughter all of your beef cattle and convert those to hog farms.

    Yeah, that's right, you can get the Esters you need for all of your drugs from pig fat, but then you would have to import beef.

    You can also get Esters from plants, but those plants aren't food crops, and, let's see, it's 1/10th of a ton per acre, so you'd have to plow under about 18-19 Million acres of food crops to grow the plants to get the Esters.

    That would cause a food shortage and higher prices for vegetables.

    Or, you can just shut up and import the light oils from OPEC that you don't have.

    Yeah, not a lot of big brains on this thread.

    Most tankers don't port for reasons that would be obvious to anyone with an IQ over 80.

    Super-tankers and all newer tankers require deep-water ports, which is why O Canada! needs a pipeline, because it has few deep-water ports on its west coast and only a couple of them can be expanded. Tankers usually drop anchor at a jetty.

    Canadian Tar Sands sell for $12-$20/barrel less than benchmark oils, because developed-States don't want it.

    Developing-States want it because of all the asphalt, tars, bitumens (for roofing shingles and mortar and other building material), and petroleum jellies you get from it. You get some diesel and practically no gasoline.
     
  11. Heartburn

    Heartburn Well-Known Member

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    Or vote Republican
     
  12. Same Issues

    Same Issues Well-Known Member

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    We can receive crude here at the Houston ship channel by marine traffic, crude transport by water is not limited to VLCC's. If a vessel is to large it can go to the deep water port in Corpus or they can transfer the crude from a large vessel to a smaller one that can make the trip, happens all the time. We process a lot of crude here and use all forms of transportation to do it (marine, rail, truck and pipeline).
     
  13. Same Issues

    Same Issues Well-Known Member

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    OPEC is sticking the increases they have already agreed to, no extra boost of production. Going to have to wait till the next meeting.

     
  14. SouthernFried87

    SouthernFried87 Banned

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    You just can’t make this stuff up. From 2016-2020 gas prices were phenomenal. Low for a full 4 years. Biden comes in last January where gas prices in my area were close to $1.50. Now I’m paying nearly $3.50. And I’m supposed to believe that’s Trump’s fault? Laughable logic there. Gas prices have more than doubled since January.
     
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  15. Chrizton

    Chrizton Well-Known Member

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    The EROI on production would have to include all of the things we have added to the process to make it cleaner than ever before, including the addition of ethanol which has an EROI of 2 if you are being generous and using the most corn-friendly number. barely .5 if you want to use the worst number.
     
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  16. Pro_Line_FL

    Pro_Line_FL Well-Known Member Donor

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    Why not? Oil is about $80.00 per barrel and that makes it profitable in US. The OP complains about gas prices, but can't comprehend its actually good for US producers. In 2015 we had a problem when OPEC suppressed oil prices and US put US produces in a tough spot. Who cares what the situation was 100 years ago, if there is still money to be made today.
     
    Last edited: Nov 5, 2021
  17. Josh77

    Josh77 Well-Known Member Past Donor

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    It simply won’t be sustainable as EROI goes down. When more energy is going in to extracting the oil than we are actually getting out of it, it will become completely pointless. We are rapidly reaching that point. It is becoming harder and harder to find sources, and when we do find them they are becoming more energy intensive to extract. Our energy needs simply will not be able to be met. If it takes 2 units of fuel to extract, refine, and transport 1 unit of fuel, then there is a problem. We are approaching that reality here very soon. If our infrastructure is not in place to use some other source of energy, then we are screwed. Energy companies already realize this, and know that fossil fuels are out of time. That’s why they’ve been investing so heavily in green energy and whatnot, although I don’t think that is the answer.
     
  18. Chrizton

    Chrizton Well-Known Member

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    The EROI on solar and wind isn't that great. Hydro is pretty decent--think I read it averages around a 25-- but it not like we can just build a new river wherever we need an energy generator. Nuclear is really the only feasible energy source to maintain the economy, let alone grow it, that allows us to move away from fossil fuels.
     
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  19. Pro_Line_FL

    Pro_Line_FL Well-Known Member Donor

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    Yes, that is true, but for now oil prices is high enough for it to be profitable, and oil price still has way to go before it becomes too expensive. Historically OPEC is the biggest problem, because they can lower the price by producing more, and that hurts US production.

    The oil lobby, and their apologists, fight to tooth and nail against such infrastructure, which is why are behind other countries in that regard, but as you say energy companies (other than oil producers) are focusing in the future, which is a good thing. Florida is investing in solar, and they are also looking into harnessing the gulf stream ocean current to create energy, but that is still experimental. If they can figure that out, it would be a massive and endless source of energy.

    Florida Company Develops Way To Generate Power By Harnessing The Gulf Stream
    https://www.forbes.com/sites/scotts...y-harnessing-the-gulf-stream/?sh=1023be2548b8
    The Miami-based company is working with Florida Atlantic University (FAU) and together they have been testing five different types of turbines to determine which works most effectively while submerged 80 feet below the ocean’s surface.

    CEO Nasser Alshemaimry hopes it will lead to a $16 billion project that, within five years, can produce 5 gigawatts of electricity that would be sent by underwater cables to a power distribution station in the West Palm Beach area.

    “We put the turbine in the water for 24 hours, and lo and behold, we actually produced electricity for 24 hours nonstop. And that, to me, was history...and this is when we realized, this is real. This is the real thing,” Alshemaimry told Forbes.
     
  20. Heartburn

    Heartburn Well-Known Member

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    They are so brazen. It's like Democrats think we all have alzheimers or else we are just plain stupid.
     
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  21. Pro_Line_FL

    Pro_Line_FL Well-Known Member Donor

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    Gas price in 2018 = $3.00. Gas price now = $3.30. Not once was it $1.50.

    Alzheimer's? Its shouldn't hurt seeing someone.
     
  22. SouthernFried87

    SouthernFried87 Banned

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    Absolutely false. Gas prices in NoVA were around $1.60-$1.75 1 year ago. They are now pushing $3.50. Gas prices have doubled chief.
     
  23. Pro_Line_FL

    Pro_Line_FL Well-Known Member Donor

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    Was 2018 or 2019 a year ago?

    Sure, we can destroy the economy like we did in 2008, so you can enjoy cheap gas. Back then the price was $4.00, and came down to $1.90 when the economy crashed. We can also re-do the disaster of 2020, but wouldn't you agree it would be a stupidest thing anyone has ever done?
     
  24. SouthernFried87

    SouthernFried87 Banned

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    So your solution is to keep electing Democrats? Joe Biden is gonna have us paying 5-6 dollars a gallon here soon. He’s got 3 more years to get us there. I drive at least 15k a year, I’m aware what the gas prices are under Dems vs Repubs. Libs who ride a bicycle with an LGBTQ sticker on their helmet don’t care that the average working man is paying 60-70 bucks to fill up their tanks.
     
  25. Heartburn

    Heartburn Well-Known Member

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    I paid below $1.50 at times but then I live in Texas and not California. By design.
     

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