Posted on 09/21/2019 6:41:29 AM PDT by DIRTYSECRET
My friends I can see it coming. Saudi Arabia is attacked. Iran's has domestic trouble and the rest of the world turns to the U.S. for more production. The price hikes will exempt the American consumer. So the oil companies calmly take advantage at our expense. Sarah arranged a payout for all Alaskans-north slope oil. Will we be lied to(again)?
Do you get this theory for Michael Moore or Alex Jones?
Sounds like the same insane conspiracy theories that were being spread about Bush and Cheney by the far left.
Maybe he gets a check from one of George Soros' organizations.
Facts are stubborn little things aren’t they? I’ve done some of the same evaluations adn the result is that I consider all promoters of alternate energy to be liars first.
I like Thermodynamics a whole lot more now than when I was in class. You had a good professor who made the class relevant instead of just a bunch of dry formulae.
Problems can be solved with aplomb when you know the basics. We designed a large radiator system to cool a test article by doing a timed run with specific inputs taking returns through our cooling reservoir tanks. The heat rise was approximately equal to the heat generated and with the radiator test tables as supplied by the manufacturer we were able to select appropriate radiators.
I wish I had taken more mechanical engineering classes.
In my 42 years in the oil industry we had maybe 18 that you could consider good ones. The rest were some form of fighting to survive or rebuild and most did not survive. They may have come back when things got better but they did not work in the oil industry until then. The survivors worked harder than ever before because of reduced staff and so they might not be one of the next let go.
The refinery coast is an interesting area to observe though. They mostly weather any storm. Steady base hits for them lead to long term prosperity. The upstream side of things not so much. The good times in upstream keep up with inflation for the most part and are a reversion to the mean.
If people want to pick on some industry pick on social media who produce nothing of substance, can be totally eliminated without any impact on society at all and make massively obscene profits with little investment at all. Go for financial services, software apps, medicine, pharmaceuticals or any of a number of similar businesses if the sheeple want a boogie man to go after.
Babble
Oil companies lost control of the oil market a long time ago. it is strictly a commodity now and the prices is set by the traders. The good years may outweigh the bad years but don’t always for every company.
Oil companies are price takers now just like any other commodity producer from copper to corn. They all make better than average profits some years and less than average profits a lot of years.
If you were self-employed you would be able to understand good business times vs. bad ones. It is simple supply and demand and not some vast conspiracy of profiteering.
PSYCHObabble.
Get out of the tin foil hat circuit.
1. Oil is a global commodity sold with global markets calling the shots, no matter what is the U.S. domestic production.
2. The COST of U.S. domestic production is about $73 a barrel on shore and about $57 off shore. The two biggest Middle East producers are Saudi Arabia and Iraq whose production costs are about $3 and $6 a barrel respectively.
3. Those facts, and the U.S. massive appetite for oil is why in spite of greater U.S. production we do (a) export more oil - some foreign markets are willing to pay more for our oil because we are closer than the Middle East and they have literally no oil at all of their own, and (b) still import about 50% of the oil consumed in the U.S.
There is no conspiracy. There are global markets and sometimes some big events can trigger market (supply/demand) changes that can be reflected in consumer price changes.
The oil companies are not a bogeyman.
Gonna have to ask him to post his income tax returns on FR....
Couldn’t have said it better...
I have been in the industry for 43 years, and like most, have had several busts, two booms, etc. I have gone bankrupt but have recovered and done well on occasion. The thing that bothers me most is that the idiots don’t realize how hard it is to find oil and gas. Most people think all you have to do is stick a straw in the ground and suck it out...and let the excess run out all over the surface and into the creeks. I have been personally involved in dozens if not hundreds of fracks through the years and incredible precautions are taken to prevent contamination and waste. We have always been accused of being crooked, greedy, subhuman polluters, and nothing could be further from the truth.
Anyone know the status of ANWR? Is it still moving forward? How about Iraq? How is the oil production going there?
I have been in the industry for 43 years, and like most, have had several busts, two booms, etc. I have gone bankrupt but have recovered and done well on occasion. The thing that bothers me most is that the idiots don’t realize how hard it is to find oil and gas. Most people think all you have to do is stick a straw in the ground and suck it out...and let the excess run out all over the surface and into the creeks. I have been personally involved in dozens if not hundreds of fracks through the years and incredible precautions are taken to prevent contamination and waste. We have always been accused of being crooked, greedy, subhuman polluters, and nothing could be further from the truth.
Iraqi oil production at record setting levels.
https://tradingeconomics.com/iraq/crude-oil-production
Up in ANWR the liberal tears means it is going well.
Power-use it if you have it. Oil companies are no different.
Gas prices along with food prices affect millions of Americans daily. Not everyone has a great career with the big salary. Those living paycheck to paycheck would be really hurt by rising gas prices. And those folks are the ones who strongly support President Trump and voted him in office.
Still waiting for that $2/gallon gas. Sure they have to invest in their infrastructure but they don’t have to buy or rent the land like everyone else. You want to tell me they don’t lie in their accounting practices?
Get rid of the tin foil hat and move into Realville!
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