President Biden, critics corner

[billvon 2,772]

59 minutes ago, richravizza said:

He's a trainwreck and not one "leftist intellectual" can admit it .

covfefe

[jakee 1,379]

5 hours ago, brenthutch said:

How about a White House spokesman?

“Kirby said, the administration had urged Saudi Arabia to delay the decision.”

They want the leeway to convince them to make a different decision, not just to have them announce the same thing a month later. Of all people here you should appreciate any effort to stop oil prices rising too high and it’s staggeringly hypocritical for you to complain about it.

[jakee 1,379]

4 hours ago, brenthutch said:

So, you have a problem with OPEC adjusting output in anticipation of a reduction in demand due to a global recession.

There’s a simple solution here - why don’t you just fly over to Arabia and explain to them that they can create the demand by pumping more oil, and they’ll make more money by selling it cheaper as a result.

[JoeWeber 2,613]

1 minute ago, jakee said:

There’s a simple solution here - why don’t you just fly over to Arabia and explain to them that they can create the demand by pumping more oil, and they’ll make more money by selling it cheaper as a result.

I have the difficulty of deciding if you are more clever than irritating. Lately, I'm more inclined to the former.

[Phil1111 1,099]

10 hours ago, brenthutch said:

So, you have a problem with OPEC adjusting output in anticipation of a reduction in demand due to a global recession. ...

Since oil is globally prices in USD. Since its demand is very elastic. Since Russia and Putin are in difficulty. MBS is merely doing what MBS and the Saudi's do.

5 hours ago, jakee said:

There’s a simple solution here - why don’t you just fly over to Arabia and explain to them that they can create the demand by pumping more oil, and they’ll make more money by selling it cheaper as a result.

Perhaps but maybe the issue is buttering up to Putin so MBS can buy the reactors that trump's couldn't get for him.

5 hours ago, JoeWeber said:

I have the difficulty of deciding if you are more clever than irritating. Lately, I'm more inclined to the former.

It seems to go in nine month cycles. He is good at driving nails. But sometimes turns the compressor up to 2000 psi.

[jakee 1,379]

3 hours ago, Phil1111 said:

It seems to go in nine month cycles.

I’m pretty sure I haven’t been getting pregnant

[SkyDekker 1,319]

18 hours ago, brenthutch said:

How about a White House spokesman?

“Kirby said, the administration had urged Saudi Arabia to delay the decision.”

“We presented Saudi Arabia with analysis to show that there was no market basis to cut production targets, and that they could easily wait for the next OPEC meeting to see how things developed,”

[SkyDekker 1,319]

16 hours ago, richravizza said:

Are you in the belief that the Joe of 2016 is the same man 2021.

No, nobody is the same as 6 years ago.

 

16 hours ago, richravizza said:

Do you think Tulsi is Hot,or what.

Huh?

You are one bizarre person. I do get a chuckle out of the irony of you trying to chastise Biden for not making sense.

[brenthutch 422]

4 hours ago, SkyDekker said:

“We presented Saudi Arabia with analysis to show that there was no market basis to cut production targets, and that they could easily wait for the next OPEC meeting to see how things developed,”

Naive much?

[billvon 2,772]

19 minutes ago, brenthutch said:

Naive much?

Enough with the one liners.  That comment adds nothing to the thread.

[lippy 882]

All this talk about the Saudis reducing production and it jacking up prices...it's easy to forget, since a lot has happened since then, but in 2019 the Saudis were turning on the taps and driving the price of oil into the basement which was really squeezing US O&G operations.  Horizontal completions (fracking and pump downs) require somewhere in the ballpark of $55 oil to break even and the Saudis were driving the price down right about that point.  It was cheap to fill your tank but the US O&G industry was hurting pretty badly and there were a lot of layoffs going around.

https://www.eia.gov/todayinenergy/detail.php?id=42415

 

 

Towards the end of 2019 into early 2020 things started to pick up and we collectively started to breath a sigh of relief with the wind at our backs, and everything turned out just fine.......

 

Anyway, I guess the moral is that it might be nice to not be so dependant on an energy source that's price can be so easily manipulated by our frienemies in Saudi.

[JoeWeber 2,613]

51 minutes ago, lippy said:

All this talk about the Saudis reducing production and it jacking up prices...it's easy to forget, since a lot has happened since then, but in 2019 the Saudis were turning on the taps and driving the price of oil into the basement which was really squeezing US O&G operations.  Horizontal completions (fracking and pump downs) require somewhere in the ballpark of $55 oil to break even and the Saudis were driving the price down right about that point.  It was cheap to fill your tank but the US O&G industry was hurting pretty badly and there were a lot of layoffs going around.

https://www.eia.gov/todayinenergy/detail.php?id=42415

 

 

Towards the end of 2019 into early 2020 things started to pick up and we collectively started to breath a sigh of relief with the wind at our backs, and everything turned out just fine.......

 

Anyway, I guess the moral is that it might be nice to not be so dependant on an energy source that's price can be so easily manipulated by our frienemies in Saudi.

Is it, in any significant way, valid to argue in favor of exporting US sweet crude because our refineries can handle lesser grades by way of import?

[Phil1111 1,099]

6 minutes ago, JoeWeber said:

Is it, in any significant way, valid to argue in favor of exporting US sweet crude because our refineries can handle lesser grades by way of import?

US refiners maximize profits by blending oil based upon opportunistic price spreads. US oil consumption peaked in 2005.

"Evaluating the economic performance of the petroleum refining industry iscomplicated by the fact that many refineries can use crude oil of lower quality as aninput, while others cannot. Crude oil can be of lighter or heavier density, as well as
having a higher or lower sulfur content. The density of the crude oil is important
because, in general, a lighter crude oil input yields a lighter product mix. A lighter
product mix is important because lighter products are generally in higher demand,
and yield higher prices for the refiner."

[JoeWeber 2,613]

2 minutes ago, Phil1111 said:

US refiners maximize profits by blending oil based upon opportunistic price spreads. US oil consumption peaked in 2005.

"Evaluating the economic performance of the petroleum refining industry iscomplicated by the fact that many refineries can use crude oil  of lower quality as aninput, while others cannot. Crude oil can be of lighter or heavier density, as well as
having a higher or lower sulfur content. The density of the crude oil is important
because, in general, a lighter crude oil input yields a lighter product mix. A lighter
product mix is important because lighter products are generally in higher demand,
and yield higher prices for the refiner."

I don't know jack all about oil refining, just to get that out of the way. My understanding is we export a significant chunk of US production and replace it with lower quality imports. Apparently the very speed the worlds spins relies on that trade off but I'm damned if I really buy the logic.

[lippy 882]

47 minutes ago, JoeWeber said:

I don't know jack all about oil refining, just to get that out of the way. My understanding is we export a significant chunk of US production and replace it with lower quality imports. Apparently the very speed the worlds spins relies on that trade off but I'm damned if I really buy the logic.

I can't claim to know anything about refining either: my tiny niche of the big picture is far upstream from there.  

[JoeWeber 2,613]

44 minutes ago, lippy said:

I can't claim to know anything about refining either: my tiny niche of the big picture is far upstream from there.  

Your free jump is hereby revoked until you can find the time to educate yourself sufficiently to answer my impertinent questions.

[lippy 882]

5 hours ago, JoeWeber said:

Your free jump is hereby revoked until you can find the time to educate yourself sufficiently to answer my impertinent questions.

I'll try to do better Joe

[jakee 1,379]

12 hours ago, brenthutch said:

Naive much?

Says the guy currently being duped by the Saudi regime.

[brenthutch 422]

Real wages drop under Biden, experts blame Democrat money party.

https://www.benzinga.com/news/22/10/29194717/americans-saw-severe-pay-cut-in-25-years-under-bidens-regime-report

 

[Phil1111 1,099]

11 hours ago, JoeWeber said:

I don't know jack all about oil refining, just to get that out of the way. My understanding is we export a significant chunk of US production and replace it with lower quality imports. Apparently the very speed the worlds spins relies on that trade off but I'm damned if I really buy the logic.

Many countries refineries are designed to refine crude only from local supply. Because there are many US refiners who use the Cushing oil pipeline hub for supply. They are engineered to take supply from Canada and many other fields(grades), The second big hub is in the Houston area where tankers bring oil from Venezuela and everywhere else.

US refiners also benefit from US engineering talent in the design of refineries. Its more expensive to build refineries with multiple grade inputs. I'm not speaking from any engineering background. But instead from a market analysis background.

Low quality oil is usually not brought in by tanker. But instead by rail and pipeline from Canada. Refined products exported mainly from central Texas ports.

IMO the Saudi government is free to make production cuts as they see fit. But the latest cuts were purely to appease the Putin government. Since oil is priced in US dollars and the greenback has risen about 28% in seven years. v the US dollar index. When you throw in weaker currencies the ratio is dramatically stronger. Many poorer countries that need petroleum are really really suffering.

Having said that MBS and the Saudi's seem to have a foolish idea that Putin will be their friend. AKA Iran. It could also be that MBS likes Putin's brutal imperial style. Either way. International relations is a two way street. Not a one way camel track.

Edited October 16, 2022 by Phil1111

[gowlerk 2,114]

32 minutes ago, Phil1111 said:

Either way. International relations is a two way street. Not a one way camel track.

The producers will cheat on each other as they always do. The announced cuts are just theatre with two objectives. They want speculators to anticipate shortages and higher prices, and they are an attempt to influence US politics. Otherwise there would be no meetings with press conferences. They would just do it.

Edited October 16, 2022 by gowlerk

[Phil1111 1,099]

28 minutes ago, gowlerk said:

The producers will cheat on each other as they always do. The announced cuts are just theatre with two objectives. They want speculators to anticipate shortages and higher prices, and they are an attempt to influence US politics. Otherwise there would be no meetings with press conferences. They would just do it.

The other side is Iranian production. Every increase in the price of oil is more money in Iranian pockets. So MBS is shooting himself in the foot. Sort of like the UK Tories like to do.

Iran Crude Oil Production in Iran decreased to 2557 BBL/D/1K in September from 2571 BBL/D/1K in August of 2022.

The larger picture that Brent and Biden critics miss with regards to oil. Is that the US is generally producing enough oil for total domestic consumption. So it could legislate lower gasoline and diesel prices. If it either chose to subsidize the difference in world prices. Or restrict exports so oil companies had to sell exclusivity domestically.

Edited October 16, 2022 by Phil1111

[SkyDekker 1,319]

17 hours ago, brenthutch said:

Naive much?

So we are back to you believing a murderous regime over your own country.

Feel free to explain the market economics that in your opinion show that a cut in production is required. For now all we are left with is that you will happily side with a regime that dismembers journalists just so you feel like you are "owning" some of your fellow country men and women.

[jakee 1,379]

35 minutes ago, SkyDekker said:

Feel free to explain the market economics that in your opinion show that a cut in production is required. 

The crazy thing is it doesn't even matter if he thinks he can. The only thing he's complaining about is the timing and Biden didn't choose the timing, the Saudis did. If OPEC+ cutting production is going to result in worryingly high energy costs for US citizens then it is objectively right for Biden as US leader to try and persuade the Saudis to delay and/or reconsider the cut. That has nothing to do with whether the midterms are around the corner or not.

[richravizza 27]

On 9/21/2022 at 8:01 PM, billvon said:

Nope.  However, many Trump supporters (including the Proud Boys, Qanon, the Three Percenters, the COVID deniers, the "Trump really won" contingent etc) are absolutely part of a cult.

What is fiendishly scary, hollow, burned orange and rotten by november?" 

BOOooo! Halloween is coming, and so is your "boogie men" bs, just in time. "remember to vote like your life depends on it." lol  I got to invite you to a republican convention this month, it'l be in the evening, a real fright night,for those in the Blue Church. 

 Do tell us what a denier, anti-vaxr and a recession is this week,Check that, not important. while the term has idiot in it, this is not at personal attack.

https://www.merriam-webster.com/dictionary/useful idiot

https://nypost.com/2022/09/12/democrats-spend-53m-to-boost-far-right-gop-candidates/