ft-on-oil

An american writes about the "gas" prices etc.

92

The article below was originally posted by Frank Taylor of Pennsylvania USA on March 11th 2022 on Facebook .

It appears here, with a few minor edits by the webmaster

Why are people so dumb or willfully ignorant?

US OIL is sold at world market prices. Yes even to us. If every drop of oil we used came from the US we would still be paying the same prices.

The GOV does not buy or control what oil is purchased from foreign sources. Oil companies do and they do so to increase profits as sometimes oil is cheaper that way.

Current position, Keystone and XL

Right now, we are in fact the No:-1 producer of oil in the world, but also the number 1 consumer of oil in the world.

The Keystone pipeline is in full operation right now. The XL was halted indefinitely in 2020 by a federal judge till studies could be completed. This was upheld by the supreme court.

Bidens EO was more paper talk than actual action.

XL Was only 8 percent complete. Even if it continues unabated once halt was lifted it would be at earliest 2024 till operational and that is provided no more legal challenges.

XL was supposed to travel across native American land which they have filed suit against several times. Anyone who supports it in this situation are no different than the bigots and racists who have repeatedly been ok with violating treaties with our native American host.

Oil Leases sold since 2020 election

Biden sold more leases in his first year than Trump did.

Reasoning for "gas" (and other) price ries.

The reason gas was rising before and was so cheap in 2020 and just prior are the following.

OIL PRICE war between OPEC and RUSSIA which was already causing US producers to close wells as they were losing money. Then along comes covid which dropped world consumption massively. Oil prices literally went to 0 Dollars a barrel. Us oil companies closed even more wells. In fact Trump had to buy huge amounts of oil for our reserve and billions in PPA money to keep them from going bankrupt.

Blaming it on Biden.

2021 Biden's elected - between vaccinations and treatments things opened up all over the world. Demand surged, but oil wells were shut down from the stuff mentioned earlier, so supply lagged. Prices rose substantially, but by late year were starting to stabilize, but then along comes Putin and Ukraine sending the markets into a frenzy. Then add to that the actual invasion and now the stoppage of anyone buying Russian oil - for the most part 20 percent of the world supply basically gone while US and others still working to ramp up from covid days. and We are where we are now.

What, if anything can be done?

Facts:- NOTHNG ANY PRESIDENT COULD DO WOULD HAVE MADE A DIFFERENCE. TRUMP, BIDEN, WHOMEVER. THE SITUATION WOULD BE THE SAME.

IN A WORLD MARKET FOR PROFIT SYSTEM THIS IS HOW IT IS AND NOTHING COULD CHANGE IT.

Want permanent low gas prices? Fine. NATIONALIZE the energy sector like Saudi Arabia. Then, and only then could we buy our own oil at cost instead of market value. Then we could have 2-dollar premium like Saudi Arabia, but remember THAT ACTUALLY WOULD BE SOCIALIST.

All of what I have written is factual you are more than welcome to fact check I did. And all the BXXXXCHING in the world will not change a THING.

And yes I REALIZE WRITING ALL OF THIS IS POINTLESS as most won't read and the ignorant, willfully ignorant and just plain dumb will not understand it anyway but still needed to be said.

Samuel Franklin Taylor 12th March 2022. Edited Patrick K. Murphy.

This page set up 12th March 2022.


The GOV does not buy or control what oil is purchased from foreign sources. Oil companies do and they do so to increase profits as sometimes oil is cheaper that way.
Current position, Keystone and XL	Right now, we are in fact the No:-1 producer of oil in the world, but also the number 1 consumer of oil in the world. The Keystone pipeline is in full operation right now. The XL was halted indefinitely in 2020 by a federal judge till studies could be completed. This was upheld by the supreme court. Bidens EO was more paper talk than actual action. XL Was only 8 percent complete. Even if it continues unabated once halt was lifted it would be at earliest 2024 till operational and that is provided no more legal challenges. XL was supposed to travel across native American land which they have filed suit against several times. Anyone who supports it in this situation are no different than the bigots and racists who have repeatedly been ok with violating treaties with our native American host.
Oil Leases sold since 2020 election	Biden sold more leases in his first year than Trump did.
Reasoning for "gas" (and other) price ries.	The reason gas was rising before and was so cheap in 2020 and just prior are the following. OIL PRICE war between OPEC and RUSSIA which was already causing US producers to close wells as they were losing money. Then along comes covid which dropped world consumption massively. Oil prices literally went to 0 Dollars a barrel. Us oil companies closed even more wells. In fact Trump had to buy huge amounts of oil for our reserve and billions in PPA money to keep them from going bankrupt.
Blaming it on Biden.	2021 Biden's elected - between vaccinations and treatments things opened up all over the world. Demand surged, but oil wells were shut down from the stuff mentioned earlier, so supply lagged. Prices rose substantially, but by late year were starting to stabilize, but then along comes Putin and Ukraine sending the markets into a frenzy. Then add to that the actual invasion and now the stoppage of anyone buying Russian oil - for the most part 20 percent of the world supply basically gone while US and others still working to ramp up from covid days. and We are where we are now.
What, if anything can be done?	Facts:- NOTHNG ANY PRESIDENT COULD DO WOULD HAVE MADE A DIFFERENCE. TRUMP, BIDEN, WHOMEVER. THE SITUATION WOULD BE THE SAME. IN A WORLD MARKET FOR PROFIT SYSTEM THIS IS HOW IT IS AND NOTHING COULD CHANGE IT. Want permanent low gas prices? Fine. NATIONALIZE the energy sector like Saudi Arabia. Then, and only then could we buy our own oil at cost instead of market value. Then we could have 2-dollar premium like Saudi Arabia, but remember THAT ACTUALLY WOULD BE SOCIALIST.