Posted on 05/15/2022 8:57:29 AM PDT by Eleutheria5
U.S. crude oil production could reach a new high next year, according to the EIA’s latest STEO–and it could upset OPEC’s reign over the oil market.
.....
(Excerpt) Read more at youtube.com ...
How is his possible, when Biden is shutting down production and pipelines and canceling leases?
“Demand increase = Supply Increase.”
Good to hear, but given the end of exploration on federal lands, we’ll soon turn the corner and head down to a more environmentally ‘sustainable’ level.
You’d think this would have an effect on prices? But smart business knows that no matter how much money they line politicians pockets with, the pinkos will screw them over at the drop of a hat. So, no drop.
Because the oil rigs already in operation are producing more. And not all leases are on federal land, either. There are private property owners with oil beneath their feet.
Is the crude being brought in from elsewhere and refined in the U.S.? I don’t see how it could otherwise happen, with every last effort of this coup determined to stop production of the evil fossil fuel.
“How is his possible, when Biden is shutting down production and pipelines and canceling leases?”
We’re still reaping the Trump benefits. Soon enough, we’ll see the results of no longer exploring for oil on federal lands and in the Gulf of Mexico.
How much of it is light crude?
$110/bbl
Not to worry.
Barack will figure out a way to have Brandon &$*# it up.
“The total rig count increased to 714 this week—261 rigs higher than the rig count this time in 2021 and the highest count since April 2020. Drilling has picked up substantially since the Russia invasion, adding 64 rigs within that timeframe.”
Russian Oil Production May Fall To 18-Year Low On EU Oil Embargo
“Russia’s oil production is already falling and will continue dropping in the coming months and years as Moscow will not be able to redirect to China and India all the volumes it is losing in Europe—its biggest oil market before the invasion of Ukraine. Restrictions, combined with the lack of access to Western technology to pump harder-to-recover oil and enhance production from maturing wells will hit Russia’s oil industry not only in the near term but also in the long term, analysts say.”
If this is the case, then why has gas and diesel prices doubled in the past year?
so they were holding back before?
your answer doesn’t make sense, just like this article doesn’t make any sense. (hint: it’s propaganda)
Watch for the key word ‘could’ If something ‘could’ happen, then it just as easily could not.
“””U.S. crude oil production could reach a new high next year”””
—
Gee, thanks for the great plan, but what are they doing about it today?
Private land production.
Hit a record low?
How is his possible, when Biden is shutting down production and pipelines and canceling leases? ............. Very simple - frackers. They did the same thing to torpedo Obama’s attempts to destroy our oil industry. After oil goes above say, $70 a barrel, the frackers can really make a good. go of it. They destroyed OPEC as a cartel and ignited an energy boom in America that President Trump honed as an engine of growth for the American economy. When OPEC tried it’s dumping game to destroy the competition they lost while still collapsing the price of oil. The Frackers didn’t stop drilling. While they had the rigs mobilized they simply drilled a ton of potential wells and capped them so they could spool up production when prices came back. Like Obama, Biden has much less control over these players. Oil prices should come down as demand and record prices drives production but enormous and irreparable damage is being done to the world economy in the process. It will be interesting to see if production can be ramped up fast enough to forestall the Biden/Democrat induced catastrophe we are headed towards. I really fear for the misfortunates in the less developed countries. They are going to suffer some serious hardships and I suspect that the damage has already been there is very little that can or will be done to try to salvage the situation. To the contrary, Biden and the other world leaders are doubling down on disaster. It’s almost as if they want to drive a catastrophe. It’s hard to see how they would do anything indifferent if that was their intent
Video is from February 2, three weeks before Russia invaded Ukraine.
Weekly US field production of crude oil
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W
Agree, must be propaganda or the price would be starting down and Biden would be screaming “WIN”. Smells funny.
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