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2022-05-15 Economy
Biden Oil And Gas Lease Sale Cancellations Draw Strong Reaction
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Posted by Besoeker 2022-05-15 03:14|| E-Mail|| Front Page|| [11125 views ]  Top

#1 In my opinion
The Biden Coup is hell bent on screwing over the US Citizens who are living paycheck to paycheck?

All while Big Oil, Big Business and foreign nations fills their pockets.
Posted by NN2N1 2022-05-15 07:09||   2022-05-15 07:09|| Front Page Top

#2 Some 70 million American "deplorables" reportedly voted for Donald Trump. Who do you suppose the left is attempting to punish or destroy ?
Posted by Besoeker 2022-05-15 07:17||   2022-05-15 07:17|| Front Page Top

#3 ^ # 1 it is all based on supply and demand. So what Biden will next do ( guess what? make it worse!), is cap prices. Then supply chain shortages. So if you bid on a product to supply at $3.00 dollars and you are told you must sell it for $2.50, what would you do. You will not loose money. You will not provide product. This happens all the time in contract bidding prices. Product is back ordered or out of stock please reorder.
Posted by Dale 2022-05-15 08:15||   2022-05-15 08:15|| Front Page Top

#4 ^#2 exactly. At every turn Biden attacks Americans first. Its the only thing he has been effective at doing.
Posted by Dale 2022-05-15 08:19||   2022-05-15 08:19|| Front Page Top

#5 Ref #3: Yes, I suspect price controls are coming any day now.
Posted by Besoeker 2022-05-15 08:42||   2022-05-15 08:42|| Front Page Top

#6 San Fran Nan has already said she wants the Gubamint to establish price caps on fuel. If it happens we go back to walking or riding horses.
Posted by Deacon Blues 2022-05-15 09:07||   2022-05-15 09:07|| Front Page Top

#7 
Ref: #3 -
Or could always backdoor ship it to the other nations.
Posted by NN2N1 2022-05-15 09:13||   2022-05-15 09:13|| Front Page Top

#8 also the per acre lease and royalties on production are planned to go up soon

this makes any oil produced more expensive and less profitable

Posted by Lord Garth 2022-05-15 09:46||   2022-05-15 09:46|| Front Page Top

#9 I'll bet on the company that thinks in geological time over the swamp creature who doesn't think past the next election.
Posted by M. Murcek 2022-05-15 09:48||   2022-05-15 09:48|| Front Page Top

#10 The Obama/Biden plan to destroy the middle class is in full swing. ALL of Biden's actions fall in line with Obama's plans. They are back at it with a vengeance. We wont survive another 4 year of this.
Posted by 49 Pan 2022-05-15 11:36||   2022-05-15 11:36|| Front Page Top

#11 The vast majority of gas stations are not owned by oil companies anyway. Right now we are having massive problems keeping the rigs we have running due to lack of spare parts and tool failures due to not enough back up tools in the pipeline. We literally CANNOT drill any faster than we are. One of our rigs had to wait -4- days for a cement crew. You cannot also train these people like jobs for McDonalds. Inexperience gets people killed and things blown up. There's no magic button to make the oilfield shutdown, go back to 800 rigs drilling and then back down to 200 again. I don't think there's 400 rigs in the US right now drilling and in 2011 we had 400 rigs in North Dakota alone.
Posted by Silentbrick 2022-05-15 13:16||   2022-05-15 13:16|| Front Page Top

#12 If it happens we go back to walking or riding horses.

That ain't a bad thing.
Posted by Skidmark 2022-05-15 13:43||   2022-05-15 13:43|| Front Page Top

#13 fwiw, domestic oil production is up a bit from late Mar to early May from about 11.6m bpd to 11.9m bpd

needs to be about 16million bpd

oil increased from about 9m to 13m bpd during Trump

Posted by Lord Garth 2022-05-15 14:57||   2022-05-15 14:57|| Front Page Top

#14 I saw that Congress recently voted to give themselves all Pelotons. The money would have been much better spent on economics textbooks.
Posted by Tom 2022-05-15 15:38||   2022-05-15 15:38|| Front Page Top

#15 All while Big Oil, Big Business...

Ah, this shit again.

Do you realize when you put half the small drillers out of business you make the remaining ones more powerful as far as the market goes? That you're not going to achieve any sort of equality by destroying an industry wholesale?
Posted by Thing From Snowy Mountain 2022-05-15 20:11||   2022-05-15 20:11|| Front Page Top

#16 Many things don't scale down to mom n pop anymore.
Posted by M. Murcek 2022-05-15 20:21||   2022-05-15 20:21|| Front Page Top

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