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Topic: In other news ...

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FearlessF

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Re: In other news ...
« Reply #3402 on: March 08, 2021, 05:16:08 PM »
Quote from: Cincydawg on March 08, 2021, 05:00:06 PM
The price of gasoline very tightly correlates with the price of oil.  The US produces about 19% of the worlds oil, and about 10% is from Federal lands.  The ban could have some impact in a year or more.

It will shift some production to places like Texas.
until a refinery blows up or goes off line because of a hurricane or some such
someone wanted to build a new refinery 40 miles from here.  Activists shut it down.
was rumored to have caused the local gas prices to be 10-20% lower
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longhorn320

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Re: In other news ...
« Reply #3403 on: March 08, 2021, 05:17:37 PM »
Quote from: Cincydawg on March 08, 2021, 05:00:06 PM
https://www.reuters.com/article/us-usa-biden-drilling/big-u-s-oil-drillers-have-federal-permits-to-mute-effect-of-any-biden-ban-idUSKBN29Q1S5

The price of gasoline very tightly correlates with the price of oil.  The US produces about 19% of the worlds oil, and about 10% is from Federal lands.  The ban could have some impact in a year or more.

It will shift some production to places like Texas.
what will have a greater impact is not issuing permits

but after giving this a little thought I still think Im right but will admit it may be a little early to find fault

100% with our President

Lets just say he is doing absolutely nothing to encourage oil production

so Im willing to wait until oil hits $100/barrel which will happen before the end of the year

when that happens and gasoline is $3.50/gal I will bring this up again

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longhorn320

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Re: In other news ...
« Reply #3404 on: March 08, 2021, 05:19:35 PM »
Quote from: FearlessF on March 08, 2021, 05:16:08 PM
until a refinery blows up or goes off line because of a hurricane or some such
someone wanted to build a new refinery 40 miles from here.  Activists shut it down.
was rumored to have caused the local gas prices to be 10-20% lower
the town I grew up in Texas City has oil refineries

all we had to worry about was it blowing up which happened more then once
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FearlessF

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Re: In other news ...
« Reply #3405 on: March 08, 2021, 05:22:27 PM »
yup, I was going to be 40 miles and a state line away

the folks that were within a mile or two didn't have the stomach for it.

whiners
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Cincydawg

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Re: In other news ...
« Reply #3406 on: March 08, 2021, 05:29:28 PM »
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longhorn320

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Re: In other news ...
« Reply #3407 on: March 08, 2021, 05:38:53 PM »
Quote from: Cincydawg on March 08, 2021, 05:29:28 PM
https://gaspricesexplained.com/wp-content/uploads/2019/08/diesel-gasoline-crude-prices-move-together-092019-f-1320x881.jpg

Supply

Demand

Global
supply - Biden shuts us down

demand - will go way up after pandemic

global - other countries especially OPEC will do whatever they want now that the big boy has been castrated

the short of it is that we will no longer be energy independent because our production is way down

Again when I see Biden do one thing to help the petroleum industry I'll change my mind
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Cincydawg

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Re: In other news ...
« Reply #3408 on: March 08, 2021, 05:41:22 PM »
The impact of Biden on US production is negligible.  In two years, it will increase to very slight.

Do the numbers.
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longhorn320

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Re: In other news ...
« Reply #3409 on: March 08, 2021, 05:45:36 PM »
Quote from: Cincydawg on March 08, 2021, 05:41:22 PM
The impact of Biden on US production is negligible.  In two years, it will increase to very slight.

Do the numbers.
the word slight is our disagreement

to me going from independent to dependent is more then slight
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Cincydawg

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Re: In other news ...
« Reply #3410 on: March 08, 2021, 05:51:23 PM »
The numbers do not support any thought of becoming dependent any time the foreseeable.  The Biden move is optics, not substance.

https://www.eia.gov/todayinenergy/detail.php?id=46476

https://www.statista.com/statistics/264026/projections-of-us-oil-production/
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longhorn320

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Re: In other news ...
« Reply #3411 on: March 08, 2021, 05:59:46 PM »
Quote from: Cincydawg on March 08, 2021, 05:51:23 PM
The numbers do not support any thought of becoming dependent any time the foreseeable.  The Biden move is optics, not substance.

https://www.eia.gov/todayinenergy/detail.php?id=46476

https://www.statista.com/statistics/264026/projections-of-us-oil-production/

one observation is that the charts do show a slight increase in production but no where near the level it was pre pandemic

so it looks like were going to coast along almost flat

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FearlessF

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Re: In other news ...
« Reply #3412 on: March 08, 2021, 06:23:20 PM »
time will tell

we have almost 4 years

who was in office a few years ago when gasoline was $3.80/gallon?

I always heard it was because of the Bush's oil buddies in Texas
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Cincydawg

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Re: In other news ...
« Reply #3413 on: March 08, 2021, 07:05:34 PM »
Look at both demand and supply.  Demand longer term will decline as EVs take a greater share of the market.
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FearlessF

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Re: In other news ...
« Reply #3414 on: March 08, 2021, 07:13:32 PM »
I'm looking forward to 99 cent per gallon gas
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bayareabadger

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Re: In other news ...
« Reply #3415 on: March 08, 2021, 07:31:52 PM »
Quote from: longhorn320 on March 08, 2021, 03:57:47 PM
12 states sue President Biden over "social cost" calculation

this should be interesting

https://www.foxbusiness.com/politics/biden-lawsuit-climate-executive-order-federal-regulatory-power

https://thehill.com/policy/energy-environment/542149-12-states-sue-biden-over-calculation-of-climate-impacts-in
Will be interested to see how much of this is real, how much is stunt. Smells like a stunt, but I suppose we'll see. 
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