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OT: Gas Prices

MinerDave said:
Wonderful strategy to appease his climate base. I applaud his strategy lets reduce supply and nothing will happen. He's above normal way of thinking
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I see. Stats I found on Wikipedia, say electric cars had a 4% market share in the US. That’s a very small amount. Even if 100% of that 4% are all Biden lovers, he is still upsetting the vast majority of his supporters. So why the price increase in gas, knowing that it will drive up the costs of pretty much everything else? Seems really stupid to purposely do that, doesn’t it?

en.wikipedia.org

Electric car use by country - Wikipedia

en.wikipedia.org en.wikipedia.org
 
MistaBinks said:
President Biden and his mean tweets about the US Oil and Gas industry! How are they supposed to enjoy their record setting profits?
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I agree numerous public speeches how he is going to put them out of business has no affect on their actions.
 
MistaBinks said:
Would you say reducing supply is bad? Then what is your take on Trump’s 24 month deal with OPEC that just concluded in April?
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I agree with Biden, lowering supply is good. When I go to a Federal agency and they tell me no more energy facilities on their land I feel satisfied that Joe has my back and truly cares. I agree with you supply doesn't matter. I say let's go from 11 million barrels a day to 9.
 
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MistaBinks said:
Before we fake outrage and add another track to the GOP Greatest Hits… Oil from the Strategic Reserve was also sold to China during the Trump administration. I’m not here to say it’s good or bad but it happened during both administrations.
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Just admit it, Joe said no to fossil fuel before he was president , and we all thought he meant when technology could replace it. But he or you other liberals on here don’t give a damn whether it ruins the economy. All I hear from you all was how conservatives worshiped Trump ( not true) but you all can’t even admit how bad Biden has screwed the US.
 
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Dmanminer said:
Just admit it, Joe said no to fossil fuel before he was president , and we all thought he meant when technology could replace it. But he or you other liberals on here don’t give a damn whether it ruins the economy. All I hear from you all was how conservatives worshiped Trump ( not true) but you all can’t even admit how bad Biden has screwed the US.
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Why did you quote me and then go off in a completely different direction? I said the Strategic Reserve sold oil to China under both the Trump and Biden administration and that was your reply?

I’ve already stated how Trump tanked the US oil market. No witch hunt. Just his actions and what the result were. Why don’t you show us how Biden has screwed the US?
 
JCorona said:
Thanks to the lock down that happened under
MistaBinks said:
Why did you quote me and then go off in a completely different direction? I said the Strategic Reserve sold oil to China under both the Trump and Biden administration and that was your reply?

I’ve already stated how Trump tanked the US oil market. No witch hunt. Just his actions and what the result were. Why don’t you show us how Biden has screwed the US?
[/QUOTE
MistaBinks said:
What was the cost for cheaper gas under Trump? 200 oil companies. 4 refineries. Thousands of US jobs?

Also, when was gas $1.50 under Trump?

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So according to the chart which you supplied above gas for all grades went from Jan 2021 $2.33 to $4.22 in March 2022. Hmm Why? Brandon trying to shut down fossil fuels. I live it every day at work trying to reduce oil prices fighting Federal Government policies. Not trying to be political just truthful. Its okay to support Joe and admit he screwed the pooch on fossil fuels.HIS POLICIES CAUSED THIS. I DON'T CARE WHAT MSNBC IS LYING TO YOU. I live his policies at work daily.
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MistaBinks said:
Why did you quote me and then go off in a completely different direction? I said the Strategic Reserve sold oil to China under both the Trump and Biden administration and that was your reply?

I’ve already stated how Trump tanked the US oil market. No witch hunt. Just his actions and what the result were. Why don’t you show us how Biden has screwed the US?
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Didn’t mean to put that under your post.
As far as Biden screwing the U. S. Open your mind and eyes to what’s happening across the country. Inflation, supply chain problems, crime, his and his son’s corruption, incompetence of his Vice President and Cabinet, his foreign policies.
sure there more, but it’s late and on done arguing.
 
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I have been in the oil and natural gas business for nearly 35 years and so I have been interested in this post in Miner Digs. I'm not trying to get your votes, keep an audience like many of our news outlets nor am I fan of Biden or Trump. I would vote for neither. But you deserve to know the facts. Here they are:

Per Mista Banks chart. Gas prices have from $2.33 to $4.22 from Jan 2021 to Mar 2022 (pre Ukraine). This is mainly due to Biden and his cowtowing to the Green New Deal Crowd. This fact alone should make you question WHY? Here's a few answers:

Joe Biden in his first few days in office signed Executive Orders limiting the Fossil Fuel Companies from exploration and production.
Within his first month, made it so that the Presidential permit needed from the Feds would not be granted for the Keystone Pipeline. I truly believe that with the latest SCOTUS ruling on EPA, this project would be a go!!
Has said numerous times in speeches, that his goal was to put fossil fuel companies out of business.
Made it nearly impossible to explore or build new refineries in the US.
Put people in head of agency roles to stop exploration and production.
This is not an exhaustive list of his actions

If your political beliefs believe in higher energy prices and inflation, you got your wish.


For those of us in the oil business it is nearly impossible to environmentally permit or place facilities on public lands. Within the past 2 months I was told by a Federal agency that they were not permitting any oil or gas projects. They have hundreds of existing energy facilities. Multiply my story by 100 and you can understand industry's frustration. Many companies have given up on expanding their energy portfolio because of Government interference. It was 100x easier to complete projects 2 years ago.

No other way to put it, but our Government's policies have been horrible for the US energy industry and the American public. You can no longer build a refinery in the US because of Environmental Policies.

I can go on and on with more examples but choose to stop. High energy prices is mainly due to our own Government's actions and as said above if that is your goal, Congratulations.

In the short term, the end of summer and pending recession will naturally bring down energy prices and inflation. But we as a country need to decide if we gradually ween ourselves off fossil fuels or we take a sledge hammer to the industry.

I really don't care if some of you listen or believe what I'm telling you. It really doesn't matter. By the way read post #143 in this thread. That guy is smart.

I come to Miner Digs to get away from work so I'm going to limit my attendance on this thread. I'd rather talk about Miner sports
 
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T-6 Miner said:
Lets be honest, he hasn't "owned" any of it. He defects and finger points it all at someone else...everyone else.
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……and Dubya and Trumpista have not? Truman’s “The buck stops here” sign was found in Marilyn Monroe’s bedroom next to her nightstand and the modern POTUS office hasn’t been the same since.
 
utep2step said:
It was $4.14 in Orogrande, NM yesterday!! Yes, the tiny town you pass through on I-54.
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Quick math. would it be worth it to drive to oro grande to fill up vs paying 4.60 here? A: No!
 
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You have been in the oil and natural gas business for 35 years and you don’t know the difference between the Keystone Pipeline and the Keystone XL? It was the Supreme Court, Donald Trump’s cherry picked Supreme Court, who killed Phase 4 (the Keystone XL). Why would you say the project would be a go? Donald Trump had four years to complete a two year project and didn’t. What would have been different in a second term?

You said gas was $1.50 under Donald Trump and I provided evidence that it wasn’t. You then replied that gas went up in Q1 2021 because of various Joe Biden policies. No mention that gas went from $1.84 to $2.19 during Trump’s last year in office. Gas prices were already going up.

Impossible to explore or build a refinery? The newest refinery in the US is the Texas International Terminals refinery in Channelview, Texas and started operating in Feb 2022. What about the one in Garyville, Louisiana?

People in US Oil and Gas complain about investors and shareholders and quarterly profits margins more than they do about President Biden. I don’t like high gas prices just like the rest of you. I don’t care if you think Trump was great and/or President Biden is bad. It’s just important to be accurate. The Anti-Joe crowd has done nothing but deflect and move the goal posts in this thread. I don’t own any Joe merch. If gas prices really are on him, let’s get to the bottom of it, and move forward.
 
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MistaBinks said:
You have been in the oil and natural gas business for 35 years and you don’t know the difference between the Keystone Pipeline and the Keystone XL? It was the Supreme Court, Donald Trump’s cherry picked Supreme Court, who killed Phase 4 (the Keystone XL). Why would you say the project would be a go? Donald Trump had four years to complete a two year project and didn’t. What would have been different in a second term?
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I am very familiar with the difference between Keystone and Keystone XL and if you come to Dallas I will introduce you to many of those who worked on the project. Yes Trump wanted Keystone and Biden doesn't. And yes Keystone would bring lower oil and gas prices. The Presidents role is not to construct pipelines,, their role is to facilitate the permitting process so that it is easier to do so. And under Trump, there would not be a permitting issue.
Reread my post "Within his first month, Biden made it so that the Presidential permit needed from the Feds would not be granted for the Keystone Pipeline. I truly believe that with the latest (last week) SCOTUS ruling on EPA, this project would be a go!!" Stand by my statement it is my belief that the current makeup of the court would rule in favor of Keystone. But it wouldn't matter because the Secretary of State will not now issue that crucial Presidential permit which is needed to construct.
MistaBinks said:
You said gas was $1.50 under Donald Trump and I provided evidence that it wasn’t. You then replied that gas went up in Q1 2021 because of various Joe Biden policies. No mention that gas went from $1.84 to $2.19 during Trump’s last year in office. Gas prices were already going up.
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The chart you provided is for all grades of gasoline nationwide. Low grade fuel in Dallas is much cheaper than what is on that chart. I asked 2 friends in the Dallas area what was the price of gas pre Covid in Dallas. One person said $1.56 and the second said $1.60. I stand by my claim that fuel prices went up significantly on Biden's watch.

Regarding going up from $1.84 to 2.19. The $1.84 price was from April 2020 during Covid. Oil was in the negative price per barrel at that time or in May. A better reference point would be pre Covid or February 2020 at $2.44 to $2,19 January 2021. Per the EIA chart you provided, today $4,22 in March 2022 (pre Ukraine). I stand by my stance that Biden's policies raised oil and gas prices


MistaBinks said:
Impossible to explore or build a refinery? The newest refinery in the US is the Texas International Terminals refinery in Channelview, Texas and started operating in Feb 2022. What about the one in Garyville, Louisiana?
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Per the Energy Information Agency the Channelview was operational in January 2022. It generally takes 3 to 5 years from the start of the environmental permitting, to the operational phase. The Garyville LA refinery was built in 1977. Please read https://www.instituteforenergyresea...new-refineries-be-built-in-the-united-states/. I stand by my statement that it would be darn near impossible to build a refinery today due to the Environmental permitting.
MistaBinks said:
People in US Oil and Gas complain about investors and shareholders and quarterly profits margins more than they do about President Biden. I don’t like high gas prices just like the rest of you. I don’t care if you think Trump was great and/or President Biden is bad. It’s just important to be accurate. The Anti-Joe crowd has done nothing but deflect and move the goal posts in this thread. I don’t own any Joe merch. If gas prices really are on him, let’s get to the bottom of it, and move forward.
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I'm not trying to pump up Trump or bash Biden. The simple fact is that Biden's policies have been horrible for the US Energy industry. Some of you may be in the pro climate, anti fossil fuel camp and if you are this is the natural fallout from that policy. I'm not trying nor can I ever change that perspective.

When I tell you it is 100x harder to build energy facilities now than anytime in the last 30+ years, that is a fact from personal experience not a vendetta against any one person. I am all for weening off fossil fuels GRADUALLY, but the current Administration took a sledge hammer to it.

Everyone should read the following: https://www.instituteforenergyresea...-new-refineries-be-built-in-the-united-states.

Go Miners
 
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kickballpro said:
If your home, which was once valued at $150,000, would sale today for $400,000, would you sale it at $150,000 anyway because record profits are unfair?
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Of course not. That is a private sale, that only involves two parties, the buyer and seller. Raising gas prices, while also recording “record profits”, involves millions of people. Those “record profits” are going to shareholders, many of whom are already rich. How many jobs are being created and/or how many are getting raises or bonuses?

How do we know that worker pay is being boosted instead of dividend checks?
 
There are a few reasons why the Keystone XL is dead. The main one being the Supreme Court. They already ruled against the Keystone XL. How would the Supreme Court rule on it again? How could they change their own ruling on the same subject without looking like political puppets? Regardless, the Keystone XL was dead before President Biden took office.

So we know the difference between the Keystone Pipeline and the Keystone XL. That means we know the type of oil the Keystone XL would have moved and where it would have gone. So how would that have lowered oil and gas prices?

The rest of your edited post was about people from work, friends from Dallas, and speculation - at best. You actually verified my point about refineries. Four refineries closed during Trump’s presidency. That’s a negative. There is more oil in the US reserve under Biden than there was under Trump. Biden detractors keep talking about his policies. Leases! Yet US oil production is up, US oil profits are setting records. US oil ain't complaining. People who don’t like President Biden are complaining. My friend in San Elizario stands by my statements.
 
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NoNCAAWinsSince1992 said:
Of course not. That is a private sale, that only involves two parties, the buyer and seller. Raising gas prices, while also recording “record profits”, involves millions of people. Those “record profits” are going to shareholders, many of whom are already rich. How many jobs are being created and/or how many are getting raises or bonuses?

How do we know that worker pay is being boosted instead of dividend checks?
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Do you think other industries should be asked to sacrifice profits for the greater good of the people?

Should we all take one for the team? If you own apartments, should you lower your record high rent and make less money for the greater good?

As pointed out multiple times in this thread. The oil industry suffered when gas prices were low. Now that the industry is booming, they should reject profit for the good of the people.
 
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kickballpro said:
Do you think other industries should be asked to sacrifice profits for the greater good of the people?

Should we all take one for the team? If you own apartments, should you lower your record high rent and make less money for the greater good?

As pointed out multiple times in this thread. The oil industry suffered when gas prices were low. Now that the industry is booming, they should reject profit for the good of the people.
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Sacrifice? Strong word. What…sacrifice greed?

You don’t EVER complain about the price of bananas? Cuz if you can justify the profit margins of the oil and gas industry, especially at this time, you can justify the profit margins of any and everything. Just sayin.
 
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kickballpro said:
Do you think other industries should be asked to sacrifice profits for the greater good of the people?

Should we all take one for the team? If you own apartments, should you lower your record high rent and make less money for the greater good?

As pointed out multiple times in this thread. The oil industry suffered when gas prices were low. Now that the industry is booming, they should reject profit for the good of the people.
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Yes, all industries; depending on scale. McDonalds need separate rules from Chico’s Tacos.

Yes, apartments should lower their rent. People will remember what they were charged when they have a choice. They will remember when Apartment Management Company decided to up their rent $300 a month. Most apartments are owned big ass companies and not some businessman who owns only 1 complex.

Gas is a bit different than a lot of other things, as you need it, if you drive a car. If you don’t like the way Taco Bell does business, you have 40 other options to choose from. Your only choice in fuel purchasing, is deciding which middle man to get it from.

If Big Company X is hiring more people and paying their current people more money, that is fine, but we know that they’re not. They’re just gobbling more and more profit for top execs and shareholders. That needs to be stopped.
 
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MineroFanatico said:
Sacrifice? Strong word. What…sacrifice greed?

You don’t EVER complain about the price of bananas? Cuz if you can justify the profit margins of the oil and gas industry, especially at this time, you can justify the profit margins of any and everything. Just sayin.
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Today's feast gets you through tomorrow's famine.

Having low to no profits 2 years ago and in many cases going out of business, now that you can actually make a profit, its called greed.

The oil industry should be insulted by the ask to not make profits. The President said he wants to eliminate your industry, the government has enacted regulations, legislation, and a pile of permits that make it hard to grow. Yet now they want a favor.

I can't get behind any logic that argues that if you're making a profit you should surrender it for the good of the people. Doesnt sound like Principals that built the Country.
 
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kickballpro said:
Today's feast gets you through tomorrow's famine.

Having low to no profits 2 years ago and in many cases going out of business, now that you can actually make a profit, its called greed.

The oil industry should be insulted by the ask to not make profits. The President said he wants to eliminate your industry, the government has enacted regulations, legislation, and a pile of permits that make it hard to grow. Yet now they want a favor.

I can't get behind any logic that argues that if you're making a profit you should surrender it for the good of the people. Doesnt sound like Principals that built the Country.
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For ALL Americans. Not just Biden supporters. Everyone is feeling it.

Whoa! You are skewing the conversation a tad. They weren’t asked to not make profits. Far from it. They were asked to reconsider lowering prices during RECORD breaking profits. Huge difference.

Oil execs are billionaires. Why do you keep suggesting they are surrendering something?

I don’t have a problem with capitalism, however the country was founded upon much more than that single concept. Much more. Since you mention what it was built upon.
 
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MineroFanatico said:
For ALL Americans. Not just Biden supporters. Everyone is feeling it.

Whoa! You are skewing the conversation a tad. They weren’t asked to not make profits. Far from it. They were asked to reconsider lowering prices during RECORD breaking profits. Huge difference.

Oil execs are billionaires. Why do you keep suggesting they are surrendering something?

I don’t have a problem with capitalism, however the country was founded upon much more than that single concept. Much more. Since you mention what it was built upon.
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I dont have a problem with businesses charging high prices, as long as they are taking care of their employees (not just their CEOs and stockholders) It's when companies sacrifice employees and customer care/satisfaction that the idea sours for me. I'm in the hospital field and this is exactly what's happening now. It's disgusting.
 
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NoNCAAWinsSince1992 said:
Yes, all industries; depending on scale. McDonalds need separate rules from Chico’s Tacos.

Yes, apartments should lower their rent. People will remember what they were charged when they have a choice. They will remember when Apartment Management Company decided to up their rent $300 a month. Most apartments are owned big ass companies and not some businessman who owns only 1 complex.

Gas is a bit different than a lot of other things, as you need it, if you drive a car. If you don’t like the way Taco Bell does business, you have 40 other options to choose from. Your only choice in fuel purchasing, is deciding which middle man to get it from.

If Big Company X is hiring more people and paying their current people more money, that is fine, but we know that they’re not. They’re just gobbling more and more profit for top execs and shareholders. That needs to be stopped.
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Careful NoNCAA, you might get accused of being a dirty commie socialist. How dare you not weep for the poor helpless billionaires?
 
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Yep, capitalism used to be respected, now to liberals it’s a sin. Oops sorry liberals don’t think anything is a sin. My deepest apologies!!!
 
develman said:
Careful NoNCAA, you might get accused of being a dirty commie socialist. How dare you not weep for the poor helpless billionaires?
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Yeah I’m all for people being successful and having lots of money. I have a limit though. How many homes is “enough” for a person or family? Do you need to buy a vacation home in France that you go to once a year and don’t rent out the rest of the year? I don’t think so. That $500,000 would be much better served going to lower level employees.

I believe the “rumor” going around is that Amazon paid $0 of income taxes last year. That shouldn’t be possible for such a big, successful company. The only exception would be if all the employees got huge bonuses instead. But we know that isn’t happening.

The more millions someone makes, the less difference in their lifestyle happens. There is no difference in someone’s quality of life when they have 2 billion dollars over 1 billion dollars. Nobody here needs 1 billion dollars. Not unless they’re donating 95% of it.
 
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NoNCAAWinsSince1992 said:
Yeah I’m all for people being successful and having lots of money. I have a limit though. How many homes is “enough” for a person or family? Do you need to buy a vacation home in France that you go to once a year and don’t rent out the rest of the year? I don’t think so. That $500,000 would be much better served going to lower level employees.

I believe the “rumor” going around is that Amazon paid $0 of income taxes last year. That shouldn’t be possible for such a big, successful company. The only exception would be if all the employees got huge bonuses instead. But we know that isn’t happening.

The more millions someone makes, the less difference in their lifestyle happens. There is no difference in someone’s quality of life when they have 2 billion dollars over 1 billion dollars. Nobody here needs 1 billion dollars. Not unless they’re donating 95% of it.
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Which many do.
 
NoNCAAWinsSince1992 said:
Yeah I’m all for people being successful and having lots of money. I have a limit though. How many homes is “enough” for a person or family? Do you need to buy a vacation home in France that you go to once a year and don’t rent out the rest of the year? I don’t think so. That $500,000 would be much better served going to lower level employees.

I believe the “rumor” going around is that Amazon paid $0 of income taxes last year. That shouldn’t be possible for such a big, successful company. The only exception would be if all the employees got huge bonuses instead. But we know that isn’t happening.

The more millions someone makes, the less difference in their lifestyle happens. There is no difference in someone’s quality of life when they have 2 billion dollars over 1 billion dollars. Nobody here needs 1 billion dollars. Not unless they’re donating 95% of it.
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I actually agree with this post. I will add that NO politician should become a millionaire while in office.
 
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