Gas prices are high. Oil CEOs reveal why they're not drilling more

Why are you guys so freaking incompetent?

seriously...

There are whiners aplenty on both sides of the fence.

In any case, having been through a number of oil crises, carrots work better than sticks. We need something like incentives to drill. There is a possible exception, Biden could use his emergency powers, but I am pretty sure he won't.

Which brings us back to various incentives to drill.

Glad I drive a Prius...

 

I doubt there will be many Democrats that keep their seats.

 

So it’ll be like any other midterm?

 

I'm glad you've resigned yourself to Biden's inevitable removal from office. He's the laughing stock of the world. A lot of foreign press are now questioning his cognitive ability.

 

As they say in Minnesota, yeah...no. They told you why they aren't drilling. It's about money. It's not about leftists or the environment or any of your other bogus reasons. They want, like any other publically owned company, to provide maximum value to shareholders. Boom and bust industries don't do that.

 

So you want to eliminate all risk from their industry so they feel safe and secure? There isn't any guarantee that anyone will see their investments pay off in several years. Unless you want to guarantee mine? Why not if you want to promise them theirs? Not everyone wants maximum oil production at any cost. Not everyone chooses to waste gasoline or energy. So why should we all back measures to support those that do?

 

Why would you need to incentivize an industry that is currently reaping record profits ?

 

It amazes me how easily those who worship the "free market" forget how quickly - and how often - that "invisible hand" delivers a bitch-slap...

 

There is no certainty. No risk = no gain. Is that not Capitalism 101?

 

Please show me where I have ever argued that “A: Their policies have absolutely no effect at all but then B: It's all those mean racist Republican and corporate masters fault, and if they'd just go away, we'd all be living in a prosperous, happy America.” I really don’t know how you arrived at any of the BS you just inferred outside of some very selective partisan reading of it.

I have read up on the amount of time it takes for legislation to have an impact and those numbers are typically 1-2 years, sometimes as quickly as 6 months depending on the program. The same was true under Obama and trump.

Out society works best when both sides can come to a middle ground but we have one side determined to hold back an any all progress while applauding the corruption of government inefficiencies they have created and the other side that doesn’t have realistic expectations or understanding of how to even begin to achieve their goals.

 

You act like new oil companies cannot be formed to go drill. You act like no one will go "hey I can get a company together and we can buy and drill these leases and then WE can have some of that money".

Its silly.

 

Not going to say that couldn't happen, but obviously it would take time to accomplish it, and they would presumably have to get leases on the land to develop. I'm not overly familiar with how that works, but it's my understanding that the oil companies have leased land that they aren't currently drilling, and I have to assume that some startup would not be able to just waltz in there and do it instead.

Then there is the issue of refining capacity.

 

Perhaps before you expound on the subject as if you were an expert you might learn how leases work? One would think that would be a basic point you'd want to understand before you ran off at the mouth.

 

Am I wrong? Do you know? Explain instead of lecturing.

 

Well, its your OP post where you're pontificating as such a learned authority. Are you sure its alright?

 

Yep, I'm sure.

 

Is it? I'm pretty sure I make considerably more than an auto mechanic but maybe not.

 

Entry lvl, I bet you don't We have mechanic working the fields and mines pretty good money

 

I've linked you an index of changes Brandon's administration has put in place to stall production. You ignored it. Leftists really are a marvel. So proudly supporting the destruction of the fossil fuel industry but when the consequences of that set in you all act like you aren't to blame.

 

I see leftists circulating this a lot. I don't see any links to it.

 

Cnn.

 

Did you even read the OP. The OP in this thread literally proves you wrong. Thats not my post….

 

Did you? Its a lazily assembled piece of propaganda. The headline and the first few paragraphs keep referring to "oil company CEOs" yet where is that coming from? Reading on you see we don't actually get what the headline claims from "oil company CEOs", it comes from some small 3rd party oil field service company.

 

The OP has a link to the survey of oil execs with a number of charts to back up the article in the OP:
https://www.dallasfed.org/research/surveys/des/2022/2201.aspx#tab-questions

 

If you don't drill your leases you lose your leases and the person selling the lease is less apt to sell it to you again because the reason to sell a mineral lease is so when they find and produce minerals you collect the ****ing royalty. This is why its important for landowners, for example the US Government, to not stop selling leases to various players. Particularly when the existing players openly announce they're going to just squat the leases they've got until terminated for non-performance, you just make note of that and sell to someone else.