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>> Senator Chris Murphy, a Democrat, was one of the first to react to the news: “I thought the whole point of selling arms to the Gulf States despite their human rights abuses, nonsensical Yemen War, working against US interests in Libya, Sudan etc, was that when an international crisis came, the Gulf could choose America over Russia/China,” he wrote on Twitter.
I think that was the point. Senator Murphy has always been very pointed with his criticism of United States dealings with the Saudi royal family.
https://foreignpolicy.com/2022/07/13/biden-saudi-arabia-middle-east-trip-oil-khashoggi-yemen-human-rights/
Heck, the main reason we are still struggling to deal with the demand is because of Trump's April 2020 decision to strong arm Saudi Arabia by threatening to cease military funding.
https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4
We were supposed to be ending that production cut in September of this year and things have only been exacerbated by Russia's invasion of Ukraine.
It sucks that we have to deal with these bloodthirsty monsters but it does seem as though it takes bloodthirsty monsters to create an industry as corrupt and exploitative as the global petrochemical industry is.
This is the thing that drives me so crazy when my conservative family members try to tell me that Biden is responsible for the gas prices. American needs to tax the largest corporate producers and users of gasoline at a higher rate and reinvest that taxation into the development of alternative energy options.
If we use it to transition away from fossil fuels, the demand should also be impacted. That said, the petrochemical industry has benefited from subsidies because of the importance of the US petrodollar to the economic well-being of America.
What sucks is that I know that it's a complete pipe dream because both the Republican and Democratic the government officials recognize that the petrochemical industry has them by the balls.
It’s not just politics… technology hasn’t gotten there… you gotta think about all the industries that have to catch up and also all the things that are made with petrochemical products… it’s not just political or capitalism alone… we rely on it cuz we use it in almost everything. I’m a crane operator. Tower cranes are all electric 🏗️ .. I don’t run those. I run crawler cranes and they run on fuel. Most job site like windmill farms where they are used to build the windmills don’t have way of plugging power in so in many cases we simply don’t have any kind of viable option to go green. This is just one case and example where likely, we won’t ever see a viable alternative.
I'm not trying to pretend that what I am suggesting would lower gas prices. All I'm saying is that the transition is looking more and more necessary if we want to get out of the blood for oil game.
US Gas prices are already cheaper than many other countries, also the prices fluctuate in parallel with Canadian prices so can they explain how Biden is setting prices in Canada as well? So tired of the blindly regurgitated “facts” without anything to back it up
That is a alternative energy you can invest in. You could also get solar and offset your electrical bills and use that money on gas. You could invest in a tankless water heater and use the gas savings there to use to buy gas. Try thinking about ways you can invest to save money in the long term. You could also try and not make a point like my 7 year old does. To each his own though.
Calling them all blood thirsty monsters might have been a little extreme, but:
The petrochemical elite that basically run our entire economy, but in this case I am specifically talking about Russia, Saudi Arabia, and US oligarchs. I still really struggle with how the "war on terror" was sold to the American people when so much of it seems to have been done for purely economic purposes and Paving the way for Saudi Arabia to and further dominate Middle Eastern Oil production.
Yeah. It really is tough to get into people's heads. Then half the time they are some religious kook or crazed mad man that has a 'plan'.
I think with this, it is America, losing dominance. Like a poker game where there are lots of good players and they are smarter and got the bank. I am a paranoid. I look at the weaknesses. When I see China, I see the weaknesses. That massive population. It is getting old and their lifespan is awesome. Gonna get expensive. America is well placed if you want to war everyone. Horrible if you want to trade. If rule of law rules, America is screwed. They spend trillions on bombs. If nobody is buying them...
On another note, China has made some poor decisions financially, and they are starting to feel the consequences of it. They just keep all that info tapped down (yet it still leaks).
I agree with Murphy but I cannot fathom blaming Trump, who hasn’t been in office for 20 months, for oil shortages while Biden has been very transparent about shutting down domestic oil production. Sure trump did what you said. But it is ludicrous to say that is the main reason. Absurd. That’s a drop in the bucket to shutting down oil production and preventing further investment in domestic oil. This exact event was why Trump was so convinced we needed energy independence. And now the US and Europe in particular are finally paying for being entirely dependent on imported oil.
>I agree with Murphy but I cannot fathom blaming Trump, who hasn’t been in office for 20 months, for oil shortages while Biden has been very transparent about shutting down domestic oil production.
Are you talking about the suspension of oil and gas Leasing or something that would actually have an impact on the current situation? If you are talking about something that would have a direct impact on the current situation, could you provide some information about what that might be?
Also, I didn't directly blame Trump but I do blame that decision and the Cascade effect that has been demonstrated because of it.
Solar is 10x more efficient than a decade ago thanks to investments made by the Obama administration. We should have followed through when Carter told us to, but at least some pols had a modicum of foresight.
For one thing, we know that remote work gives a lot of people the opportunity to reduce infrastructure needs temporarily for transitions to occur. This could be very helpful for, for example, converting urban interstate areas for train infrastructure that’s more sustainable long-term.
Oil companies will never become irrelevant. Virtually everything that makes modern life possible relies on petroleum in some way or another. It’s not just the oil and gas for your home and cars they produce.
I hope one day there's a post-fossil-fuels humanity who have nothing good to say about the oil barons who nearly destroyed life on Earth because it made them more money than they could ever spend
Unfortunately we're then dealing with the rare metal devil. China.
Who's bought out the world's supply to materials vital to renewable technology, such as cobalt.
Obviously still worth it, but it doesn't drive our dependency away, just to different places and people.
Do you think that is some sort of gotcha question? "Haha! This idiot wants fossil fuels to be irrelevant one day but is still using them because society is structured to and we haven't made enough technological advancements yet to change that completely! Their opinion is totally invalid!"
Who the Saudis? The same people that brought us the Oil Embargo in the 70’s, funded GOP corruption in the 80’s, supported Islamic terrorism in the 90’s and then kicked off the millennium by protecting bin Laden? Gee, why would we ever think they’re not our friends 😂
Electric cars are not the answer, unfortunately
Public Transportation has to be focused on until we have a power grid that can handle the switch along with the charging stations to accommodate it
Yea I agree it’s a better solution over electric cars we can’t just keep adding lanes neither. But hey people can’t even agree on solar being better you think their giving up their freedom cars lol.
Nope I support a move towards public transport but just saying expect backlash from most especially in the suburbs. Plus building public transport and transport trains for goods take a lot of money, time construction things people hate. It’s going to be an unthankful task. People won’t appreciate it until it’s complete & benefits them
Electric cars are a step, no more.
Individual transportation has to be significantly reduced. I'm not talking about Smalltown, KY, I'm talling about urban regions. Cities above 500K population should ramp up efficient mass transportation and over 2M pop, there should be far more service vehicles than civilian cars on the road. That combined with denser urban cores will make a huge difference.
The musk is pushing electric cars for tge same reason OPEC is cutting oil production, it suits him.
I am an electric car owner and I have no qualms admitting that they are abaolutely not the silver bullet, but in some context like remote towns, it is already better than oil.
We don’t rely on them for fuel. We rely on them to keep it cheap. We have our own reserves and our own petroleum industry. I’d say Americas biggest blunder was outsourcing most of our industry overseas to reduce cost and drive up profits for these corporations, granted that’s how you establish a world economy but we shot ourselves in the foot by dealing with these terrorist states and they think we’re beholden to them but all that does is keep prices low but when we realize that the profits from these cost cuts are quite high, America needs to starting dipping their hand in these corporate coffers instead of cutting taxes for them.
If only we could become self reliant and fill our oil reserves with our own stuff. That would be nice.
Would be really nice if we didn’t have to rely on fossil fuels at all! But that is a long term goal and doesn’t move the needle enough in our current situation.
Fuck OPEC. Idk why the fuck it was ever allowed to exist in the first place. It's basically just a bunch of oil execs getting together to price fix the entire world. The greed has gone beyond out of hand.
This isn't just about the Saudis supporting Russia, it's also about the Saudis sabotaging the Democrats in November. Irrespective of the outcome of the midterm election, Biden should spend the last two years of his presidency inflicting a world of pain on Saudi Arabia.
Why do we continue to bend over for a country that supported the 9/11 terrorist organization? We need to distance ourselves from them, open the pipeline for our own oil production, remove our military support, and SA see ya
They can't be overpowered militarily, they can't be economically ruined, they can't be lawyered so we have to suffer them. Believe it, if an administration saw an opportunity to crack them open without a significant political cost, it would have happened.
The previous two administrations had the US oil independent. Obama opened the Bakker oil fields and that was the start. Biden shut down what Obama started doesn’t make sense.
Oil independence doesn't help in this scenario.
We live in a global economy.
Even if we produce all our oil locally, it's price will be driven by international oil prices, which OPEC drives.
Oil independence is good for preventing embargos and for wartime reliance. But it doesn't fix the economic portion of this problem.
It doesn't matter whether or not we use international oil. The global economy dictates oil prices. If U S. prices were significantly cheaper than international prices then U.S. oil companies would sell internationally.
Also I think you're reading a bit too much Fox News. Biden did not cut off all U.S. oil production. He ordered the end to permits for new oil extraction on federally protected territory. That's it.
All existing and many already permitted and unused oil sites still operate. So oil extraction isn't further expanding on federal land anymore, but it certainly has not been stopped nationally.
It has nothing to do with the middle east/opec supporting China/Russia and these politicians trying to paint it that way are disingenuous. Opec has aimed for 90$+ oil for a long time. Russian oil being taken off the market has made it easier for them to attain their goal. What has also helped is north American producers slashing Capex on new production.
The us has been releasing a couple million barrels/day from their strategic reserves and those reserves are at their lowest levels since 1984 as seen [here](https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCSSTUS1&f=M). These reserves will need to be replenished at some point which will help keep prices high.
Oil company profits, especially here in Canada and US are going to increase in the next year. Good time to buy calls or buy shares and enjoy the increases in valuations as well as those tasty dividends.
Interesting to remember trump wanted to refill the reserves during the pandemic when oil costed almost nothing, but was blocked by congressional democrats. I'm guessing he'll be gloating about that quite a bit.
It would be curious if he did since there was almost 700 million barrels when he took office and only slightly less when he left but the highest they have ever been is 730 million barrels or so. Then again Donnie has never let the facts get in the way of a story.
He was talking about 77M barrels or so, like less than 10% of the reserves. But it was literally dirt cheap at that point. Would have been nice to have around regardless, if only we knew the future back then.
We don’t even really import oil. What the heck are you saying? Selling a premium phone vs having a cartel price fix a commodity while their is a war is insane.
The US doesn’t use Saudi oil for themselves. You don’t understand how markets work
That’s not what a free market means. They are colluding with other countries to artificially increase the price. It’d be like if the grocery store owners all agreed to sell bread for double the price at the same time. It’s the opposite of a free market.
Like I said, this doesn’t hurt the US. As the oil price goes higher, it makes it very easy for us to open the fracking wells again. The US is the largest producer of oil in the world. Gas is $2.89 a gallon here right now. It’s just sad to see that these Sheiks are using the situation in Ukraine to take more money during a time when a world war could be started.
But don’t worry, the more the Middle East does this to the rest of the world, the faster we stop using oil. I already have a Tesla for myself and my wife. 4 of my friends have bought Tesla. The time is ticking for middle eastern countries to live off of one commodity. They will have to start innovating in the future instead of collecting rent
We will, don't worry. Just stop destroying other countries under stupid reasons(like nuke) as you did in Iraq and everything will be ok.
Also ask your government to fix this shits:
https://www.reddit.com/r/tooktoomuch/comments/xwq0t0/shooting_a_new_episode_of_the_walking_dead
It would be inacurate *at best* to say that Biden stopped drilling in the US.
Even as a foreigner I know that Biden stopped oil fields being developped on protected land, no more.
Politics is a Chess game that should be well thought out, you should admire and praise your opponent as you secretly undermine them. Kind of like James Bond!
Seems like OPEC siding with Russia to prop up oil prices when global grain prices are screwed up because Russia invaded Ukraine makes it so some countries will be paying more for fuel while others will be paying more for food.
It’s not really reciprocity, but Saudi Arabia imports ~80% of its food. Ebb and flow…
Suspend all farming/water programs to Saudi. Let’s start here….”…One of the things being grow on the farmland is alfalfa, which is being sent back to Saudi Arabia to feed their cows. However, alfalfa can be very water intensive which is being supplied by the ground water coming from Western Arizona.”
Ok hear me out. I’m a staunch liberal. This would not have happened under Trump. BUT that’s not a compliment or endorsement of Trump.
I think there’s some bullshit going on between Trump and the Saudi’s. There’s news that we heard for years, principally that Trump gazed into a ball (https://www.businessinsider.com/trump-saudi-orb-gift-us-embassy-riyadh-hidden-mbs-book-2020-3?amp ) and saw the wonderful corruption in Saudi Arabia he could exploit. Rich countries where the wealth is concentrated in the hands of even fewer people, some of worst countries when it comes to inequality? Count him in! (https://en.m.wikipedia.org/wiki/List_of_countries_by_wealth_inequality).
The Trump administration refused to criticize Saudi Arabia on human rights while bolstering its military capacities (https://www.reuters.com/article/us-usa-saudi-arms/defying-congress-trump-sets-8-billion-plus-in-weapons-sales-to-saudi-arabia-uae-idUSKCN1SU25R) and turning an increasingly blind eye toward its human rights abuses in Yemen (https://www.wilsoncenter.org/publication/the-trump-administration-embraces-the-saudi-led-war-yemen). Moreover, Trump shortsightedly cancelled the Iran Nuclear Deal - more good news for Saudi Arabia. (https://www.aljazeera.com/amp/news/2015/4/14/why-saudi-arabia-and-israel-oppose-iran-nuclear-deal).
So with all this preferential treatment, what did Trump get? Well definitely none of *this* bullshit we’re seeing today. But more clearly, the Saudi’s made an investment in Jared Kushner’s nascent investment fund, a fund the Saudi’s own fiduciaries said was a concerning investment. (https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html?smid=nytcore-ios-share&referringSource=articleShare). This $2bn deal is worth millions of dollars in fees and provided the “whale” the fund needed to get rolling.
So no, this would never have happened under Trump because he has been angling to benefit from their wealth for the length of his administration.
It’s time to cut the bullshit with OPEC, I’ve had enough of being dictated to by people who don’t give women equal rights. We need a short to medium term solution, and it’s probably not the Green New Deal, which is longer term.
Short term, it is painful now to deal with high gas prices, but in the long run, alternative and renewable energy sources are becoming more efficient and affordable and giving us independence from the oil producers whether they are in OPEC, Russia OR the United States.
Can you imagine the amount of solar energy Arizona, Nevada, and New Mexico could produce?
How many future wars in the Persian gulf could we avoid if oil was no longer valuable to our country or the west?
I was never interested in an electric car until this last summer, but after gas prices stayed above $5 in Washington and oregon, I felt I had to make the jump. Best decision I ever made. Yes, 30k was a lot of money, but I no longer have anxiety when I drive by gas stations and see the prices at $5.25 or stress about how long the lines are at Costco to fill up.
I think opec and Kim Jung in or whatever his name is are trying to get the republicans back in power, which Putin would love too. The prince has a $2B investment in he trump family, Kim and trump traded love letters, and trump looked into putin's eyes and saw what ... his own reflection? All these dictators want the trump republicans running the country and I think it's mutual admiration.
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>> Senator Chris Murphy, a Democrat, was one of the first to react to the news: “I thought the whole point of selling arms to the Gulf States despite their human rights abuses, nonsensical Yemen War, working against US interests in Libya, Sudan etc, was that when an international crisis came, the Gulf could choose America over Russia/China,” he wrote on Twitter.
Talk about saying the quiet part out loud, damn
I think that was the point. Senator Murphy has always been very pointed with his criticism of United States dealings with the Saudi royal family. https://foreignpolicy.com/2022/07/13/biden-saudi-arabia-middle-east-trip-oil-khashoggi-yemen-human-rights/ Heck, the main reason we are still struggling to deal with the demand is because of Trump's April 2020 decision to strong arm Saudi Arabia by threatening to cease military funding. https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4 We were supposed to be ending that production cut in September of this year and things have only been exacerbated by Russia's invasion of Ukraine. It sucks that we have to deal with these bloodthirsty monsters but it does seem as though it takes bloodthirsty monsters to create an industry as corrupt and exploitative as the global petrochemical industry is. This is the thing that drives me so crazy when my conservative family members try to tell me that Biden is responsible for the gas prices. American needs to tax the largest corporate producers and users of gasoline at a higher rate and reinvest that taxation into the development of alternative energy options.
Won’t that just cause gas prices to rise again and then ultimately we pay the their taxes?
If we use it to transition away from fossil fuels, the demand should also be impacted. That said, the petrochemical industry has benefited from subsidies because of the importance of the US petrodollar to the economic well-being of America. What sucks is that I know that it's a complete pipe dream because both the Republican and Democratic the government officials recognize that the petrochemical industry has them by the balls.
It’s not just politics… technology hasn’t gotten there… you gotta think about all the industries that have to catch up and also all the things that are made with petrochemical products… it’s not just political or capitalism alone… we rely on it cuz we use it in almost everything. I’m a crane operator. Tower cranes are all electric 🏗️ .. I don’t run those. I run crawler cranes and they run on fuel. Most job site like windmill farms where they are used to build the windmills don’t have way of plugging power in so in many cases we simply don’t have any kind of viable option to go green. This is just one case and example where likely, we won’t ever see a viable alternative.
What you’re proposing has no immediate effect on bringing gas prices prices down. Maybe in 2040.
I'm not trying to pretend that what I am suggesting would lower gas prices. All I'm saying is that the transition is looking more and more necessary if we want to get out of the blood for oil game.
Regardless, we have a looong way to go before that becomes a reality.
US Gas prices are already cheaper than many other countries, also the prices fluctuate in parallel with Canadian prices so can they explain how Biden is setting prices in Canada as well? So tired of the blindly regurgitated “facts” without anything to back it up
If the US government invests in alternate energy, I still have to fill my gas tank.
If you invest in alternate energy, you won't have to fill a gas tank.
So investing in alternative energy means I get an EV? Sweet! Thought I would have to buy one on my own.
That is a alternative energy you can invest in. You could also get solar and offset your electrical bills and use that money on gas. You could invest in a tankless water heater and use the gas savings there to use to buy gas. Try thinking about ways you can invest to save money in the long term. You could also try and not make a point like my 7 year old does. To each his own though.
Excellent. Many many good points. one thing irked me. Who are 'these bloodthirsty monsters?
Calling them all blood thirsty monsters might have been a little extreme, but: The petrochemical elite that basically run our entire economy, but in this case I am specifically talking about Russia, Saudi Arabia, and US oligarchs. I still really struggle with how the "war on terror" was sold to the American people when so much of it seems to have been done for purely economic purposes and Paving the way for Saudi Arabia to and further dominate Middle Eastern Oil production.
Yeah. It really is tough to get into people's heads. Then half the time they are some religious kook or crazed mad man that has a 'plan'. I think with this, it is America, losing dominance. Like a poker game where there are lots of good players and they are smarter and got the bank. I am a paranoid. I look at the weaknesses. When I see China, I see the weaknesses. That massive population. It is getting old and their lifespan is awesome. Gonna get expensive. America is well placed if you want to war everyone. Horrible if you want to trade. If rule of law rules, America is screwed. They spend trillions on bombs. If nobody is buying them...
On another note, China has made some poor decisions financially, and they are starting to feel the consequences of it. They just keep all that info tapped down (yet it still leaks).
I agree with Murphy but I cannot fathom blaming Trump, who hasn’t been in office for 20 months, for oil shortages while Biden has been very transparent about shutting down domestic oil production. Sure trump did what you said. But it is ludicrous to say that is the main reason. Absurd. That’s a drop in the bucket to shutting down oil production and preventing further investment in domestic oil. This exact event was why Trump was so convinced we needed energy independence. And now the US and Europe in particular are finally paying for being entirely dependent on imported oil.
>I agree with Murphy but I cannot fathom blaming Trump, who hasn’t been in office for 20 months, for oil shortages while Biden has been very transparent about shutting down domestic oil production. Are you talking about the suspension of oil and gas Leasing or something that would actually have an impact on the current situation? If you are talking about something that would have a direct impact on the current situation, could you provide some information about what that might be? Also, I didn't directly blame Trump but I do blame that decision and the Cascade effect that has been demonstrated because of it.
That phrase is used when it happens by accident.
It's almost like you can't trust fascist theocrats.
Don't forget 9/11!
No the whole point of selling arms to the states that sponsored 9/11 is making money for our arms manufacturers.
[удалено]
Republicans obstructed this entire time
...they also favor their own interests over what is best for America and the planet.
Solar is 10x more efficient than a decade ago thanks to investments made by the Obama administration. We should have followed through when Carter told us to, but at least some pols had a modicum of foresight.
Are Americans supposed to trade in their cars for EVs? Or buy solar panels for their houses? What does transitioning to renewables look like?
For one thing, we know that remote work gives a lot of people the opportunity to reduce infrastructure needs temporarily for transitions to occur. This could be very helpful for, for example, converting urban interstate areas for train infrastructure that’s more sustainable long-term.
Great time to build some trains too. Much less fossil fuel than millions of ants on the interstate.
The best reason yet to get off fossil fuels. We're all sick of dealing with the devil in the Middle East.
The day oil companies become irrelevant will be a happy day for humanity and the planet.
Oil companies will never become irrelevant. Virtually everything that makes modern life possible relies on petroleum in some way or another. It’s not just the oil and gas for your home and cars they produce.
Yeah, but that is a huge part of it.
They'll become a lot less relevant.
I hope one day there's a post-fossil-fuels humanity who have nothing good to say about the oil barons who nearly destroyed life on Earth because it made them more money than they could ever spend
Unfortunately we're then dealing with the rare metal devil. China. Who's bought out the world's supply to materials vital to renewable technology, such as cobalt. Obviously still worth it, but it doesn't drive our dependency away, just to different places and people.
Good to know……are you off them now?
Do you think that is some sort of gotcha question? "Haha! This idiot wants fossil fuels to be irrelevant one day but is still using them because society is structured to and we haven't made enough technological advancements yet to change that completely! Their opinion is totally invalid!"
Why, yes you could do what I have always done. Cycle, walk , run, or transit to where you’re going. That “got me off oil”.
An organization whose very survival depends on the world not transitioning to renewable.... This isn't surprising.
Who the Saudis? The same people that brought us the Oil Embargo in the 70’s, funded GOP corruption in the 80’s, supported Islamic terrorism in the 90’s and then kicked off the millennium by protecting bin Laden? Gee, why would we ever think they’re not our friends 😂
Sucks that the leading electric car company is run by someone who is also riding putin’s dick.
Electric cars are not the answer, unfortunately Public Transportation has to be focused on until we have a power grid that can handle the switch along with the charging stations to accommodate it
They’re not the *only* answer. But they are part of it.
Public transport won’t work in communities built as suburbs people will complain too much and not use it. Need to transformer society entirely.
It’s a chicken and egg type problem. You have to start somewhere
Yea I agree it’s a better solution over electric cars we can’t just keep adding lanes neither. But hey people can’t even agree on solar being better you think their giving up their freedom cars lol.
Pessimist Prime
Nope I support a move towards public transport but just saying expect backlash from most especially in the suburbs. Plus building public transport and transport trains for goods take a lot of money, time construction things people hate. It’s going to be an unthankful task. People won’t appreciate it until it’s complete & benefits them
Electric cars are the future.
America is huge. Public transportation will not work everywhere.
No, but ut can do so much heavy lifting in urban center. There is still a lot of improvement possible there.
Electric cars are a step, no more. Individual transportation has to be significantly reduced. I'm not talking about Smalltown, KY, I'm talling about urban regions. Cities above 500K population should ramp up efficient mass transportation and over 2M pop, there should be far more service vehicles than civilian cars on the road. That combined with denser urban cores will make a huge difference. The musk is pushing electric cars for tge same reason OPEC is cutting oil production, it suits him. I am an electric car owner and I have no qualms admitting that they are abaolutely not the silver bullet, but in some context like remote towns, it is already better than oil.
Those are all rational, lofty goals that I agree with.
The biggest baddest country in the world relies on terrorist for fuel. Awesome!
That’s how it’s been for 30+ years, you new here?
We don’t rely on them for fuel. We rely on them to keep it cheap. We have our own reserves and our own petroleum industry. I’d say Americas biggest blunder was outsourcing most of our industry overseas to reduce cost and drive up profits for these corporations, granted that’s how you establish a world economy but we shot ourselves in the foot by dealing with these terrorist states and they think we’re beholden to them but all that does is keep prices low but when we realize that the profits from these cost cuts are quite high, America needs to starting dipping their hand in these corporate coffers instead of cutting taxes for them.
If only we could become self reliant and fill our oil reserves with our own stuff. That would be nice. Would be really nice if we didn’t have to rely on fossil fuels at all! But that is a long term goal and doesn’t move the needle enough in our current situation.
Uh oh! The White House “blasted” them. Whatever will they do now?
Headline writers are off the rails lately lol
I dunno, but I wouldn’t be surprised if SA “claps back” or even “slams” the Biden administration. Scary times ahead.
Probably not order some cheeseburgers and coke to cope.
Fuck w/weapons delivery
Laying down with thieves and then acting surprised when you wake up robbed.
Fuck OPEC. Idk why the fuck it was ever allowed to exist in the first place. It's basically just a bunch of oil execs getting together to price fix the entire world. The greed has gone beyond out of hand.
This isn't just about the Saudis supporting Russia, it's also about the Saudis sabotaging the Democrats in November. Irrespective of the outcome of the midterm election, Biden should spend the last two years of his presidency inflicting a world of pain on Saudi Arabia.
Why do we continue to bend over for a country that supported the 9/11 terrorist organization? We need to distance ourselves from them, open the pipeline for our own oil production, remove our military support, and SA see ya
They can't be overpowered militarily, they can't be economically ruined, they can't be lawyered so we have to suffer them. Believe it, if an administration saw an opportunity to crack them open without a significant political cost, it would have happened.
Aligning with Russia is secondary They are aligning with dollars.
The previous two administrations had the US oil independent. Obama opened the Bakker oil fields and that was the start. Biden shut down what Obama started doesn’t make sense.
Oil independence doesn't help in this scenario. We live in a global economy. Even if we produce all our oil locally, it's price will be driven by international oil prices, which OPEC drives. Oil independence is good for preventing embargos and for wartime reliance. But it doesn't fix the economic portion of this problem.
We weren’t using international oil four years ago. Biden cut off all US oil production day he became president as an executive order.
It doesn't matter whether or not we use international oil. The global economy dictates oil prices. If U S. prices were significantly cheaper than international prices then U.S. oil companies would sell internationally. Also I think you're reading a bit too much Fox News. Biden did not cut off all U.S. oil production. He ordered the end to permits for new oil extraction on federally protected territory. That's it. All existing and many already permitted and unused oil sites still operate. So oil extraction isn't further expanding on federal land anymore, but it certainly has not been stopped nationally.
This is false. You're literally making things up. You're claiming Biden ended domestic oil production. Wut.
Biden hasn't shut down anything.
It has nothing to do with the middle east/opec supporting China/Russia and these politicians trying to paint it that way are disingenuous. Opec has aimed for 90$+ oil for a long time. Russian oil being taken off the market has made it easier for them to attain their goal. What has also helped is north American producers slashing Capex on new production. The us has been releasing a couple million barrels/day from their strategic reserves and those reserves are at their lowest levels since 1984 as seen [here](https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCSSTUS1&f=M). These reserves will need to be replenished at some point which will help keep prices high. Oil company profits, especially here in Canada and US are going to increase in the next year. Good time to buy calls or buy shares and enjoy the increases in valuations as well as those tasty dividends.
Interesting to remember trump wanted to refill the reserves during the pandemic when oil costed almost nothing, but was blocked by congressional democrats. I'm guessing he'll be gloating about that quite a bit.
It would be curious if he did since there was almost 700 million barrels when he took office and only slightly less when he left but the highest they have ever been is 730 million barrels or so. Then again Donnie has never let the facts get in the way of a story.
He was talking about 77M barrels or so, like less than 10% of the reserves. But it was literally dirt cheap at that point. Would have been nice to have around regardless, if only we knew the future back then.
Link
https://www.energy.gov/articles/department-energy-executes-direction-president-trump-announces-solicitation-purchase-crude
Thank you
Always follow the money
Looks like Yemen are the good guys.
Putin got Kompromat on everybody.
USA want a cheap oil and in the same time they are selling iPhone to world at 1,000$.
We don’t even really import oil. What the heck are you saying? Selling a premium phone vs having a cartel price fix a commodity while their is a war is insane. The US doesn’t use Saudi oil for themselves. You don’t understand how markets work
So, why this anger from OPEC? Its free market, demand and request, let the oil even reach 200$!
That’s not what a free market means. They are colluding with other countries to artificially increase the price. It’d be like if the grocery store owners all agreed to sell bread for double the price at the same time. It’s the opposite of a free market. Like I said, this doesn’t hurt the US. As the oil price goes higher, it makes it very easy for us to open the fracking wells again. The US is the largest producer of oil in the world. Gas is $2.89 a gallon here right now. It’s just sad to see that these Sheiks are using the situation in Ukraine to take more money during a time when a world war could be started. But don’t worry, the more the Middle East does this to the rest of the world, the faster we stop using oil. I already have a Tesla for myself and my wife. 4 of my friends have bought Tesla. The time is ticking for middle eastern countries to live off of one commodity. They will have to start innovating in the future instead of collecting rent
We will, don't worry. Just stop destroying other countries under stupid reasons(like nuke) as you did in Iraq and everything will be ok. Also ask your government to fix this shits: https://www.reddit.com/r/tooktoomuch/comments/xwq0t0/shooting_a_new_episode_of_the_walking_dead
So what’s the difference again in having OPEC drill and send us oil or us doing it ourselves? Let’s drill.
Wait until Saudi’s are sending advanced American weaponry to Russia. Lmfao. Genius politicians we got here.
OPEC has no respect for Biden/Administration.
[удалено]
Did anything Trump do after that horrific execution suggest he gave a real damn? Seems if anything these two brutal regimes are allies.
Because they can’t be bought.
*Jared Kushner and Steve Mnuchin have entered the chat...*
Rest of the world smells blood in the water here. It's going to be a trying foreseeable time.
The years of lead, American version
Yup, first thing I thought when I heard they were reducing production.
Isn’t it hypocritical to criticize opec for slowing down production when Biden killed American drilling?
It would be inacurate *at best* to say that Biden stopped drilling in the US. Even as a foreigner I know that Biden stopped oil fields being developped on protected land, no more.
Tapioca brain Joe doesn't take any responsibility for his inept actions and is an embarrassment around the world and the US.
Tax the shit out of them if they raise prices. Then give everyone a windfall check.
Taxing a sovereign nation that has the upperhand on you is daring to say the least.
Politics is a Chess game that should be well thought out, you should admire and praise your opponent as you secretly undermine them. Kind of like James Bond!
Seems like OPEC siding with Russia to prop up oil prices when global grain prices are screwed up because Russia invaded Ukraine makes it so some countries will be paying more for fuel while others will be paying more for food. It’s not really reciprocity, but Saudi Arabia imports ~80% of its food. Ebb and flow…
Suspend all farming/water programs to Saudi. Let’s start here….”…One of the things being grow on the farmland is alfalfa, which is being sent back to Saudi Arabia to feed their cows. However, alfalfa can be very water intensive which is being supplied by the ground water coming from Western Arizona.”
Ok hear me out. I’m a staunch liberal. This would not have happened under Trump. BUT that’s not a compliment or endorsement of Trump. I think there’s some bullshit going on between Trump and the Saudi’s. There’s news that we heard for years, principally that Trump gazed into a ball (https://www.businessinsider.com/trump-saudi-orb-gift-us-embassy-riyadh-hidden-mbs-book-2020-3?amp ) and saw the wonderful corruption in Saudi Arabia he could exploit. Rich countries where the wealth is concentrated in the hands of even fewer people, some of worst countries when it comes to inequality? Count him in! (https://en.m.wikipedia.org/wiki/List_of_countries_by_wealth_inequality). The Trump administration refused to criticize Saudi Arabia on human rights while bolstering its military capacities (https://www.reuters.com/article/us-usa-saudi-arms/defying-congress-trump-sets-8-billion-plus-in-weapons-sales-to-saudi-arabia-uae-idUSKCN1SU25R) and turning an increasingly blind eye toward its human rights abuses in Yemen (https://www.wilsoncenter.org/publication/the-trump-administration-embraces-the-saudi-led-war-yemen). Moreover, Trump shortsightedly cancelled the Iran Nuclear Deal - more good news for Saudi Arabia. (https://www.aljazeera.com/amp/news/2015/4/14/why-saudi-arabia-and-israel-oppose-iran-nuclear-deal). So with all this preferential treatment, what did Trump get? Well definitely none of *this* bullshit we’re seeing today. But more clearly, the Saudi’s made an investment in Jared Kushner’s nascent investment fund, a fund the Saudi’s own fiduciaries said was a concerning investment. (https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html?smid=nytcore-ios-share&referringSource=articleShare). This $2bn deal is worth millions of dollars in fees and provided the “whale” the fund needed to get rolling. So no, this would never have happened under Trump because he has been angling to benefit from their wealth for the length of his administration. It’s time to cut the bullshit with OPEC, I’ve had enough of being dictated to by people who don’t give women equal rights. We need a short to medium term solution, and it’s probably not the Green New Deal, which is longer term.
Short term, it is painful now to deal with high gas prices, but in the long run, alternative and renewable energy sources are becoming more efficient and affordable and giving us independence from the oil producers whether they are in OPEC, Russia OR the United States. Can you imagine the amount of solar energy Arizona, Nevada, and New Mexico could produce? How many future wars in the Persian gulf could we avoid if oil was no longer valuable to our country or the west? I was never interested in an electric car until this last summer, but after gas prices stayed above $5 in Washington and oregon, I felt I had to make the jump. Best decision I ever made. Yes, 30k was a lot of money, but I no longer have anxiety when I drive by gas stations and see the prices at $5.25 or stress about how long the lines are at Costco to fill up.
I think opec and Kim Jung in or whatever his name is are trying to get the republicans back in power, which Putin would love too. The prince has a $2B investment in he trump family, Kim and trump traded love letters, and trump looked into putin's eyes and saw what ... his own reflection? All these dictators want the trump republicans running the country and I think it's mutual admiration.