The Era Of Cheap Oil Has Come To An End

Oil Price ^ | Dec 18, 2022 | Irina Slav

[Parley Baer]

Thanks to the Joe Biden cabal.

[joma89]

Only because they banned fracking and cancelled the pipeline. Purposeful government interference in the free market by the democrat party voters.

[Regulator]

Oh BS

Get the Ratz and their Watermelon contingent outta the way and production goes right back up where Trump had it

[Blue Collar Christian]

“OPEC revealed...” can’t be taken seriously.

US oil production is dependent on who is calling the shots.

[PeachyKeen]

Only because our rulers want it that way.

[nickcarraway]

OPEC has not consistently produced more than 30 million bpd since 2015-2018. Structural underinvestment in new oil supply may lead to structurally higher prices. ... “Global oil inventory is at the lowest level since 2004, the Department of Energy has released 200 million barrels of oil from the Strategic Petroleum Reserve this year, OPEC continues to struggle to produce at their stated quota and US producers are helping but can only do so much.”

If that is true, and it's still sliding, what does that mean?

[Antoninus]

Oh, peak oil again? Didn’t we already play this game back in 2008?

[Ge0ffrey]

Stop it! We’ve heard this before!

[natalie227]

joma89: Only because they banned fracking.

The US pumped a record amount of natural gas in 2022. 2023 will be even greater. They are doing more fracking than ever.

[Yo-Yo]

The coming era of expensive oil will be due to artificially manipulated government markets.

As soon as a sane government (cough*Trump*cough) is elected, the spice oil will flow again.

[Son-Joshua]

The oil is still in the ground and isn’t going anywhere. Infrastructure can be rebuilt/updated given the financial incentive.

[combat_boots]

Related….perversely

https://www.naturalnews.com/2022-12-19-antifa-terror-cell-sabotage-infrastructure-bloomberg-climate-terrorism-destruction.html

[Abathar]

Back in the early 70’s we were told the same thing.

Then in the 80’s

Then in the 90’s

Then global warming hit the stage and suddenly a lack of oil became an opportunity for political advancement and funding, an ideological mandate worthy of PT Barnum’s greatest dream.

Each time it came down to a political decision, not a factual look at the reserves and the ones we keep finding when we get serious about looking for them.

[P.O.E.]

Saving it up for when China needs it.

[Jonty30]

It’s still cheap. It’s the taxes that are driving up the price.

[Vision]

It's only taken the Left 20 years of demonetization to do it. They own this issue.

[usconservative]

Only because they banned fracking and cancelled the pipeline. Purposeful government interference in the free market by the democrat party voters.

Post #3 -- nailed it.

Add: The Biden Administration is funding oil production in ... VENEZUELA! One corrupt Admin backing another!

[beethovenfan]

Just by idiotic policy, not lack of supply.

[dsrtsage]

“Oh, peak oil again? Didn’t we already play this game back in 2008 1978