What are Y'all Gonna Do Next Month When A Gallon Of Milk Cost $11

If the global price for the quality oil you desire to buy is $120/barrel, where are you going to find $60/barrel oil?

Yes we can. Demand is currently drawing down inventories at the rate of 1.8 b/d.

https://www.eia.gov/outlooks/steo/report/global_oil.php

We were pumping 1.4 b/d more than current production under Trump. If Biden and the Democrats didn't hate the American Worker so much and weren't so committed to their insane degrowth policies, they could pick up 80% of the shortfall from the American Energy sector rather than going hat in hand to Venezuela, KSA, and Iran.

Humble bragging. If you don't think your holdings will ever be more valuable than they are now, why aren't you selling?

 

Your first question is my point. We will always float with the global market, cause when it's cheaper then USA oil we import. And if we are cheaper then we export.

As for why I don't sell? Because like I said it's down. If it gets to like $300 A barrel, which should be about $10 a gallon at the pump, matching Germanys gas prices 15 years ago, I just might do that.
Especially if a repub president reduces the cap gains tax on the next pendulum swing.

 

The damage from one is reversable, the other ... not so much

 

Really?

Catastrophic you say

 

There are global situations going on now.
It could break $130 again and go as high as $300...Which is why I'm invested.
It is not likely though. OPEC would have to go off the grid for Oil to hit above $300 in my opinion. It "could" happen..but most likely wont.

 

No kidding! Worse than COVID 2020 But clearly you're missing the point here and my position on exporting and domestic drilling

 

And you missed the fact, that we cant drill enough fast enough to lower prices in any near future.
We are just going to have to consume less, ride the market, and plan better for the future.

 

Agreed! But not drilling and producing now will not help in future scenario's as this either But that's been the mantra of the right for a very long time! Preparedness, drill, cap and ready domestic energies! If anything they could be sold on the world market at market value and if need be sold domestically to hold or steady prices at the pump..

Clearly the left really don't subscribe to the old saying "Prepare/save for a rainy day"

 

But we are drilling...We are actually exporting right now. So obviously we are not short on anything.
People are still paying the asking price. When that stops, then the price may level out, or even decrease.

 

Can't find anything for the current date "To early in the year"

But
Jan thru Dec 2021 U.S. Exports of Crude Oil (Thousand Barrels per Day)

BFD consider we use

 

JOE BIDEN DID THAT: Uber to roll out fuel surcharge in United States with surging gas prices.

Biden promised to attack the US energy sector during the campaign, and did as soon as he was sworn in. In some places it's now $30 to fill your own 5 gallon can of gasoline.

 

That is defiantly a consumption problem that needs to be addressed.

 

Milk at $11.00 per gallon ? My guess is that a hell of a lot of self-supporting, working people will stop drinking milk!

But, not to worry... Jolly old Joe will get a big increase in EBT benefits ("food stamps") passed by his Socialism-lite dominated Congress, just a few months before the midterm elections, and then all the bums on welfare will be SWIMMING in milk!

 

LOL, it's actually, literally a drop in the ocean and hardly worth mentioning

 

But isn't that the leftist cure all, throw money at it

 

Yea right.
We have a problem, and not a single person is going to like any sort of solution.

 

This can't be! I watched him tell the American viewers these flaring shitstorms in the economy has nothing to do with his administration Then again I watched Trump explain that ByDumb is Challenged mentally and physically and found that to be far more believable

 

Well reducing the price of petroleum would help tremendously! Any time you can't get a bottle of distilled water because distillers can't get plastic bottles, well it's time to find someone with a little more flexibility then this current moron running the show

 

The only way Trump, or Biden could do that is to put in place price controls....That something you want to entertain?

 

Not really, there is more behind the scenes then you or I are privy too I damn well know, if he put the word out to produce domestic energy that industry would flood the refineries with home grown crude.. I know in this state alone there are a minimum 1500 well heads just sitting there with the valve closed and I'm sure the same rings true for other states and crude

 

"You're just not an honest person"


Be Best

 

"You're a dishonest person."


Be Best

 

do you really believe more foreign oil flooding the market won't lower the price of oil?

 

the global effects of covid is still with us, not sure why you think it's not?

 

I think you mean conservatives.