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Posted on 07/15/2022 7:30:56 PM PDT by ding_dong_daddy_from_dumas
The White House on Friday said Saudi Arabia has committed to increasing oil production in July and August—a move that will help "stabilize markets considerably."
The commitment from Saudi Arabia came after bilateral meetings between President Biden and administration officials and King Salman bin Abdulaziz al Said and Crown Prince Mohammed bin Salman, as well as Saudi Ministers.
"Saudi Arabia has committed to support global oil market balancing for sustained economic growth," the White House said. "We have welcomed the increase in production levels 50 percent above what was planned for July and August."
"These steps and further steps that we anticipate over the coming weeks have and will help stabilize markets considerably," the White House said.
(Excerpt) Read more at foxnews.com ...
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Imagine if our stupid government wanted to build a modern new refinery or two, along with some necessary pipelines. But they would rather beg the Middle East and South America.
No way there will be a noticeable (to the people hurting) price change at the pump before the midterms. This is something that need to happen so the witless would see the difference between the parties. Enough of them outsourcing their thoughts and votes.
Saudi has a hell of a lot of reserves that have not been drilled yet. They can not just open a spigot and get extra millions of barrels of oil. You have to drill it and produce it. This takes a lot of time. Saudi is operating at near capacity today as to take advantage of the high price of oil.
Oddly Saudi could flow their wells wide open and increase production greatly for a limited period of time. This will damage the production formation and ultimately limit the life and total production of a well. They will not do this.
We have a lot of reserves that have not been drilled as the Biden administration blocks such at every opportunity. Canada has a lot of reserves but Biden killed the Keystone pipeline on day 1 of his administration.
Biden is mentally incompetent. His advisors run the country and they hate this country in its present form. They are all hard core socialists quasi Marxists. They are hell bent on destroying us so they can build their socialist paradise. This always ends in despair, economic ruin, tyranny and death to those that oppose it.
That’s strange the tanker traffic locator says all of the Saudi oil is going to your are to China and all of our oil is going to Europe wonder what that’s about
wat will you do with all that extra money you save? Lol
so i guess we are to understand that Saudis will give us more oil so that... we can then give china more oil?
Do not believe it unless Salman confirms.
I will buy one piece of Bazooka gum.
For only July and August. It will be over in a few weeks.
lol don’t break your teeth, that gum is brutal-
IIRC, I’d just read somewhere that the Saudis said increasing production wouldn’t do the US any good because the problem is in its refining capacity.
I’ll try not too.
The last had one was when I was a kid. Frogot the price (5 cents?). It probably went up.
Gas is a little over $6 where I am now.
If Biden was 15-20 years younger, do you think he would tell his advisors to ocassionally to **** off? Biden as an opportunist, like Bill Clinton. He is not an ideologue like we are seeing many Democrats today where the Far Left is in charge.
https://www.archyde.com/oil-production-quotas-for-opec-countries-in-july-2022/
Planned oil production increase for July and August was 170,000 barrels/day. That means the increase will be 255,000 barrels/day. The big increase is 85,000 barrels/day. Not impressive IMHO.
Yes Alaska has massive amounts of oil
Trump opened Anwar, Biden shut it down.
USA has enough oil and Nat Gas to last 400 years or more.
If Biden got out of the way, in a matter of 2-3 months we could be energy independent again.
With gas about $2.40 a gallon or so.
Bidens puppeteers want to destroy our country.
That’s why they stole the election.
Yes
Even at $50 bbl,
Putin economy would collapse.
And we could sell oil and LPG across the world and become a solvent Soverign country again.
Bidens bosses have moved some refineries over to refining bio fuels.
They need to be switched back, and we need to build new ones.
Some have just been shut down to short us on gas.
Satan is running the whitehouse.
The deal is only July/August? So supply chain-wise this should carry them until November election. This is not a deal of any sorts. What is really happening here?
Timeline looks like for the elections, but I would caution to consider this is also the time frame when it is predicted the biggest hit of food scarcity starts. There is more in play here than just the oil.
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