Can Biden pressure oil companies?
General Topic
Did he imply some sort of Govt pressure on increasing output today? What power does he have?
What about the many billions the oil company’s lost due to the country’s businesses being forced to stay closed 18 months longer than necessary by Joes cronies.
So let’s call the current profits a wash for the inept government shutdown
Kerry just said no need to increase supply? Do these guys ever have a Monday morning meeting to agree on what the lie for the week will be?
He’s been begging for production for awhile now. Nothing he can do to force it.
Would you help him after he pulled the plug?
He has been killing oil companys for two years.
Begging for production ? That’s insanity ! He started stifling production as soon as he took office. If anybody over the age of twenty still thinks that oil companies set oil prices they ain’t playing with a full deck. Biden and crew caused this problem, the general public is paying for it now, but dems will all pay for it in the long run.
I think he is begging for refineries to increase output
The oil guys would know better. It’s what I thought I heard
Either way changes NOTHING
My Lord what a shit show this administration is. All that voted for or enabled these morons to get into office should be jailed for treason
Hard for me to believe so many hated peace and prosperity so much
The only ones paying for it are the consumers.
We haven't built a refinery in decades. Almost impossible due to all the government restrictions and rules. I look for the democrats to blow up what we have and we will be screwed big time.
I’m with you shuteye. Who thinks the food processing plants ate catching on fire by accident?
3-10k cows died in Kansas over the weekend. Hmmm not heat related
the oil companies should tell him to pound sand. the defense production act takes cash to implement and a lot of time to get rolling, long past the mid terms. where is old joe going to get the cash? congress wont give it to him.
As RK mentioned, it's my understanding he wants to use the Defense Production Act for refineries. The U.S. is already at about 97.5% capacity for refineries, so not sure what he could do other than perhaps repair some of the old ones that have been shut down (or the one on the east coast that blew up a couple of years ago). Since he has promised to destroy the oil/gas business, no investors will pay to restore those. Can't picture him paying for it either, regardless of what he says for the benefit of the cameras.
I don't understand why it's a surprise when a group of Marxist do things that line up with their agenda...he said before he was elected what he wanted to do and he is doing it. Most people I know, and a lot of them work in the oil field, saw it coming. The clown has destroyed everything he touches...that's what Marxist do..they want control and manipulation..plain n simple.
All he is doing is trying to direct the heat off of himself and his administration. The sad part is libs will eat this up and blame "big oil"
Last week…”I will end fossil Fuels”
This week….” Start making more gas”
You can make this sheet up! Whatamaroon
The sad truth is that (not just the lib-tards) most, if not all, the politicians really don't give a shit as it doesn't affect them. They live in a wonderland where just about everything is paid for them, health insurance, gas, food, housing, etc., etc., ---- and by the time they leave office (benefits included for the rest of their life) many of them are millionaires!!!!!!!!!!!!
The energy secretary says buy an EV it’s cheaper to charge it.
Well I would buy one. However there are a couple of problems. Ford is only making 150 k lightnings this year. They have over 250 k orders so far. So no side there. Other then fords lightning and Rivian R1 that’s it for EV pick ups being sold at this time. Then to top it off MISO is talking about black out this summer in there region. They are predicting the demand will be 124 gigawatts and with the green crowd forcing some plants to shut down. They are only able to produce 119 gigawatts.
The energy secretary is a fool.
Nobody is talking about the Power Grid, funny how that is…CA can’t get through a summer anymore without rolling blackouts…God forbid the wind blows, as they’ll shut the lines down then also…We’re #ucked!
C'mon man, blowing wind is where our power comes from. Sucks to be a hawk though....
I forgot about you ‘Bay Area’ people and your wind farms…Lol
Why would he want to shut down the steady flow of cash from Overseas from every barrel of oil coming into this country? If you think it has nothing to do with money you are foolish.
elections have consequences. he said he was going to end fossil fuels and people are getting exactly what they voted for. i don't want to pay any more for fuel than the next guy but if i was the oil industry, id tell joe to go %$#@ himself. this should be a lesson for voters...a very expensive one. its just a shame we cant have a two tiered gas price. 2.50 for people who didn't vote for joe and 7.50 for those that did. oh, and by the way. anyone who says this is about the greedy oil companies...you should probably remember that the greedy oil company is you...and pretty much everyone else that has money in a retirement or pension plan.
The guy that said over 50% of Americans are stupid is SPOT ON! Biden comes out and has the gall to say "THE ECONOMY IS ROBUST" and then blames the oil industry for the problems he created on day 1 of his administration. And people STILL defend this Dementia Patient................................
And these Eco-freaks are so hypocritical..........................................telling us we need to get rid of our gas guzzlers for toy electric cars.....................................then hop in their Suburbans.
THey should replace all the secret service vehicles with teslas, ground AirForce 1 and Marine 1 until they can figure out how to run them on used cooking oil, and if "The Big GUY" needs to go overseas.............................................take a sailboat!
"anyone who says this is about the greedy oil companies...you should probably remember that the greedy oil company is you...and pretty much everyone else that has money in a retirement or pension plan."
And these are also the same people that sing praises to Capitalism...
Wind has its place, but not everywhere. Solar has its place, but not everywhere. Hydro-electric, nuclear, and fossil fuel combustion has its place as well, but not everywhere. The biggest problem we really face is clueless fools being allowed to call the shots. These fools have spent a lifetime career in politics being a drain on the economy or tending bar and then suddenly becoming a representative.
But at least some people's vote has been vindicated because of Jan 6 (insert eyeroll here)...
“I forgot about you ‘Bay Area’ people and your wind farms…Lol“
Yeah, those have gone bankrupt at least twice. The wind farm in the Hawaiian islands in one of the windiest places on earth was mothballed years ago….one of the think tanks has a long analysis of why.
It seems the Democrats did not factor in the large qty of oil and maintenance it takes to keep these running.
.
The API called out Bidens bad policy and listed 10 things he could do RIGHT NOW to improve oil prices. Of course he won’t…as they want high fossil fuel prices so alternate energy looks more palatable.
From their website.
10 actions policymakers can take right now:
1. Lift Development Restrictions on Federal Lands and Waters
The Department of the Interior (DOI) should swiftly issue a 5-year program for the Outer Continental Shelf and hold mandated quarterly onshore lease sales with equitable terms. DOI should reinstate canceled sales and valid leases on federal lands and waters.
2. Designate Critical Energy Infrastructure Projects
Congress should authorize critical energy infrastructure projects to support the production, processing and delivery of energy. These projects would be of such concern to the national interest that they would be entitled to undergo a streamlined review and permitting process not to exceed one year.
3. Fix the NEPA Permitting Process
The Biden administration should revise the National Environmental Policy Act process by establishing agency uniformity in reviews, limiting reviews to two years, and reducing bureaucratic burdens placed on project proponents in terms of size and scope of application submissions.
4. Accelerate LNG Exports and Approve Pending LNG Applications
Congress should amend the Natural Gas Act to streamline the Department of Energy (DOE) to a single approval process for all U.S. liquefied natural gas (LNG) projects. DOE should approve pending LNG applications to enable the U.S. to deliver reliable energy to our allies abroad.
5. Unlock Investment and Access to Capital
The Securities and Exchange Commission should reconsider its overly burdensome and ineffective climate disclosure proposal and the Biden administration should ensure open capital markets where access is based upon individual company merit free from artificial constraints based on government-preferred investment allocations.\
6. Dismantle Supply Chain Bottlenecks
President Biden should rescind steel tariffs that remain on imports from U.S. allies as steel is a critical component of energy production, transportation, and refining. The Biden administration should accelerate efforts to relieve port congestion so that equipment necessary for energy development can be delivered and installed.
7. Advance Lower Carbon Energy Tax Provisions
Congress should expand and extend Section 45Q tax credits for carbon capture, utilization, and storage development and create a new tax credit for hydrogen produced from all sources.
8. Protect Competition in the Use of Refining Technologies
The Biden administration should ensure that future federal agency rulemakings continue to allow U.S. refineries to use the existing critical process technologies to produce the fuels needed for global energy markets.
9. End Permitting Obstruction on Natural Gas Projects
The Federal Energy Regulatory Commission should cease efforts to overstep its permitting authority under the Natural Gas Act and should adhere to traditional considerations of public needs as well as focus on direct impacts arising from the construction and operation of natural gas projects.
10. Advance the Energy Workforce of the Future
Congress and the Biden administration should support the training and education of a diverse workforce through increased funding of work-based learning and advancement of STEM programs to nurture the skills necessary to construct and operate oil, natural gas and other energy infrastructure.
The fact the he got even 10% of the vote is sad.
Oil company greed..... He is the Commander in Chief and has no idea of simple Economics,,,,,,,,,,,, Greedy owners, well Joe, most of the 401s in the country hold shares in the industry,,,,,,,,,,,,, He is truly an idiot...................... Well maybe not, he has been a paid Govt employee all of his life, and is worth billions, so he must be smarter than me
For those of you who support this guy, I ask you this,,,,,, He says we got to produce more, and in the next hour, John Kerry says we need no more oil or gas,,,,,
I guess Kerry has no idea, what powers electricity,,,,,,,,,,,,,,,,,,,,,,,
The Biden Administration
The Biden Administration
Having Biden, or any other career politcian who's never held a real job where they had to actually produce something, as POTUS or as head of any of the agencies is like needing brain surgery and having someone who's a plumber do it.
These people ARE NOT QUALIFIED!!!
"windfall profits" tax being threatened today
Biden will never take responsibility. Always blaming everyone and everything else. Regardless, you run for office, brag about how stupid previous leadership was and how good you are with all of the answers, well, own it! .... We have no leadership because he doesn't own nor take responsibility for anything. You ran as an expert Mr.Biden. Now own it .... But of course we all know he won't ... He is the most incompetent and one of the top most racist Presidents we have ever had in this modern time ... In challenge anyone to prove me wrong ...
I thought Obama n Bush were bad but he wins the prize for the worst so far in my life time.
Dano, I'm sure the media will find another villain other than Marxist Joe to blame.
One thing for sure is Jimmy Carter is all smiles right now. He was able to live long enough to see a president do a worse job then his self.
“ One thing for sure is Jimmy Carter is all smiles right now. He was able to live long enough to see a president do a worse job then his self.”
Yessir
"One thing for sure is Jimmy Carter is all smiles right now. He was able to live long enough to see a president do a worse job then his self."
Mr. Peanut has been grinnin' since Obama took office. But just wait until Biden can't function at all and Harris becomes President.....she'll make Carter/Obama/Biden look MAGNIFICENT!
Not to mention what's going on with the ESG, another form of legalized extortion under the banner of Environmental causes.
You guys saying America is getting what they voted for really don’t understand the bigger problem here.
How can he pressure a sector when they know he ultimately wants to put them out of business.
How's that 140 oil by Independence Day looking "Dano".
You meant RT DANO. not RK LMAO
RK
You meant RT DANO. not RK LMAO
RK
Sorry I asked. Good Lord.
If the administration wanted significantly lower prices at the pump, it would be very easy to simply reinstate the limits on oil speculation trading. Basically commodities are traded on futures contracts (agree now to buy your product at a certain date for set price). People who produce the product and those who actually take delivery of it are what is called a hedger contract. Speculation contracts do not involve actually receiving the product. They simply make predictions about prices and settle out in cash at expiration (delivery date). Right now speculation contracts account for over 85% of oil futures. The majority are traded by large investment banks and fund companies. They add significant costs to the product which we all pay for as prices pass through. The government has tried to tamp them down occasionally but it's a huge amount of money going to some of the biggest lobbying groups and pads a lot of wealth people's portfolios. Remove them from the evaluation and the 'risk premium' the news refers to will go away. It's generally accepted at least 60% of the cost right now is from this activity.
Careful with those truths burt. The resident bowsite fact checkers will be here shortly.
The BS ranger on patrol, another friendly down. Someone get that keyboard out of his hands haha.
You're a marginal instigator, BS ranger, now go finish your book.
What do you do, Recurve Man?
Can we not post gay porn on Bowsite please? Thanks.
"The government has tried to tamp them down occasionally but it's a huge amount of money going to some of the biggest lobbying groups and pads a lot of wealth people's portfolios. "
The role of Big Lobbying in screwing us can not be overstated. The Citizens United decision may have doomed this country in the long run. If the current Supreme Court is truly 'conservative' maybe they'll realize that granting big money an unlimited voice is foolish.
We just need to get the electric cars going. Then we can tell Russia to shove their oil
Most of us are f..... I listened to that fat ass Republican Lindsey Graham this morning, saying, we need to be ready to take less in our Social Security, and Medicare.... Really you POS, maybe you should get off your ass, and pay for your medical stuff, as soon as you retire, from your Senate job.................
Then we have the Democrats, who will run all of us into bankruptcy........................
Together they are all assholes......................... I will vote this year, believe in it, never would not vote, but it needs to be for young conservative /moderate politicians who are fed up with this BS..................
Kevin McCarthy, Lindsey Graham,,, Chuck Schumer, Pelosi, all of these assholes should be dumped,,,, and they are playing everyone
Yep, we have a choice between bad n terrible. Either way we seem to end up paying more taxes n losing more freedoms. Pathetic
We've been being played along time by both sides in tandem with other regimes... just look at billions being sent to Zelensky, Hunter probably brokered that. No, it took scary orange man to unveil the corruption, some choose to be in denial, others fighting for their spoils.
Those of us that actually work pay the taxes so we can take care of those that don't want to work and also to bail out big companies
I topped off at a Love's while on a road trip. I was done in less than 10 minutes and on my way.
As I was leaving, I noticed there was a car plugged in to a charging station. Don't know how long they had been there or how much longer they would be. Cutest darn thing, like topping off the battery to a little kids toy car.
One thing is for sure, the extra time it takes to charge a plug in car, you will need an extra 2 days on any kind of a road trip for "fill-ups"...
GH50 you are right on with Graham and McCarthy but dont forget Ole McConnell and the VP. I often wander where the country would be if the whole Democratic party and about 8-10 Republicans wouldnt have scammed the election. Trump was on to them as well. He cut their China funding off and they had a vendetta against him from then on. You can count on 1 hand the politicians that love our country for what we've done and where we come from through the generations and what our forefathers founded this country on.
All the liberal, progressive nut jobs, are the cause of this, not just Joe Biden, somebody had to be, dumb enough to want people like that in office...
I'm actually a pretty nice guy, I won't belittle...I'll just call it like it is.
Truth?....if you support our current, liberal, progressive Gov't, your not thinking straight.
Frankly I can look at all the moral issues and know these people are not playing with a full deck...what on earth makes us think people with such abnormal mindsets could possibly handle the economy wisely?
