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  • Why oil companies are making huge profits

    From Michael P.@21:1/5 to All on Sun May 1 12:38:30 2022
    Biden reduced production.
    Demand has stayed the same or risen.

    Ergo: supply & demand.

    Too bad the dunces couldn't figure that out.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Tom Elam@21:1/5 to youkno...@yahoo.com on Sun May 1 14:10:16 2022
    On Sunday, May 1, 2022 at 3:38:31 PM UTC-4, youkno...@yahoo.com wrote:
    Biden reduced production.
    Demand has stayed the same or risen.

    Ergo: supply & demand.

    Too bad the dunces couldn't figure that out.

    Too bad you did not look at any data. Crude production dropped like a rock in April-May 2020, under Trump. It's been trending up since but never recovered to 2020 levels. Same is true foir gasoline production. Increasing crude imports are the result.
    Under Biden crude production has not decreased. It has failed to increase enough to offset increased consumption.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Alan@21:1/5 to Michael P. on Sun May 1 14:42:26 2022
    On 2022-05-01 12:38 p.m., Michael P. wrote:
    Biden reduced production.

    How did he do that precisely?

    Demand has stayed the same or risen.

    Ergo: supply & demand.

    Too bad the dunces couldn't figure that out.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Tom Elam@21:1/5 to Alan on Sun May 1 16:37:38 2022
    On Sunday, May 1, 2022 at 5:42:32 PM UTC-4, Alan wrote:
    On 2022-05-01 12:38 p.m., Michael P. wrote:
    Biden reduced production.

    How did he do that precisely?

    He did not. Low oil prices during the 2020 pandemic year led to sharply reduced pumping activity. It takes time for 1) producers to believe that higher prices are permanent and 2) to restart wells. Simple market economics. Keystone had nothing to do with
    it, nor did banning drilling on public lands. Trump was the president when oil prices crashed.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Michael P.@21:1/5 to thomas...@gmail.com on Tue May 3 13:57:17 2022
    On Sunday, May 1, 2022 at 7:37:39 PM UTC-4, thomas...@gmail.com wrote:
    On Sunday, May 1, 2022 at 5:42:32 PM UTC-4, Alan wrote:
    On 2022-05-01 12:38 p.m., Michael P. wrote:
    Biden reduced production.

    How did he do that precisely?
    He did not. Low oil prices during the 2020 pandemic year led to sharply reduced pumping activity. It takes time for 1) producers to believe that higher prices are permanent and 2) to restart wells. Simple market economics. Keystone had nothing to do
    with it, nor did banning drilling on public lands. Trump was the president when oil prices crashed.

    Do you ever read the news, Shistain?

    https://oilprice.com/Energy/Energy-General/Bidens-Energy-Agenda-To-Reduce-Oil-Production-And-Boost-Prices.html

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Alan@21:1/5 to Michael P. on Tue May 3 14:48:32 2022
    On 2022-05-03 1:57 p.m., Michael P. wrote:
    On Sunday, May 1, 2022 at 7:37:39 PM UTC-4, thomas...@gmail.com wrote:
    On Sunday, May 1, 2022 at 5:42:32 PM UTC-4, Alan wrote:
    On 2022-05-01 12:38 p.m., Michael P. wrote:
    Biden reduced production.

    How did he do that precisely?
    He did not. Low oil prices during the 2020 pandemic year led to sharply reduced pumping activity. It takes time for 1) producers to believe that higher prices are permanent and 2) to restart wells. Simple market economics. Keystone had nothing to do
    with it, nor did banning drilling on public lands. Trump was the president when oil prices crashed.

    Do you ever read the news, Shistain?

    https://oilprice.com/Energy/Energy-General/Bidens-Energy-Agenda-To-Reduce-Oil-Production-And-Boost-Prices.html

    And what are oilprice.com's bonafides?

    Are they just shills for the oil industry?

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)