America Last - Saudis agree to increase oil production 50 percent

[Anti Federalist]

Do you have ANY idea how the modern world actually works? Energy is ABSOLUTELY critical to our world, son.

It's a good thing that people like you aren't in charge of policy - it's bad enough that buffoons with similar ideas are getting close to the levers of power... God forbid if they ever succeed. It will be the end of the modern world!

In the United States, they are in charge now.

And that's why prices have gone through the roof.

Not because the supply chain got interrupted today. You and I both know oil is a "perishable" commodity, it has to be used as it comes out the ground, for the most part. It is difficult and expensive to store long term. That's why it is traded as a commodity, to provide liquidity and supply as the market and demand waxes and wanes.

Oil companies, large and small, looked at what the Biden Thing promised to do and more importantly, the scores of young idealistic Marxists and doe eyed Earth Firsters that flooded into government over the past ten years, and have concluded that there is no future in oil and gas exploration in the US and now pulling back, scaling back, pulling out and canceling projects for future supplies decades from now.

The last project I was on, just before everything came to an end, was worth over $9 BILLION.

No sane CEO is going to continue to greenlight a project like that, with an addled madman in DC acting worse than Hugo Chavez.

Venezuela was one of the wealthiest countries on the planet, largely due to oil production, before Marxist madness destroyed it.

Now they dumpster dive and slaughter zoo animals for food.

Zimbabwe (Rhodesia) was a similar wealthy nation that followed a similar path. Marxist economics and anti-white pograms and anti-white racism now have reduced that nation's daughters to using dried cow shit for sanitary napkins.

The car companies are following the same lead. Does any rational person think that almost ALL the car companies around the world are committing economic suicide by declaring that they will no longer build any ICE vehicles after 2025 or 2030? That market demand and their customers are driving that agenda? Of course not...it's government fatwas decreed in the name of, or by people like, our pal snowball.

These people hate humanity, they want to see a Great Cull.

They are happy with the idea that ripping away the source of cheap and reliable energy will kill half the world's population.

They are Malthusian Jacobins.

The problem is the elites one level above them will not settle for that.

They will release a man made plague on us that will kill 95 percent of us, if we don't stop them.

 

[Snowball]

This is a bunch of incoherent jibberish. I've spent plenty of time in the Bakken, and AF can speak to the impact on Deep water drilling. The land isn't sold to developers - it is LEASED to them. The footprint of a multi-well pad is several hundred square feet, and that pad continues to produce for decades.

I suggest you get out and actually see what you're so opposed to, rather than just expound pointlessly on an internet backwater. If you'd like, I'd be happy to take you out to drilling country and you'd see that the only thing besides O&G that is made out there is wealthy Americans.

I stand by my original post which maintains that there is no shortage, therefore trying to flood the market with new exploration and drilling is entirely unnecessary, there are thousands of capped wells not in use, and whether it is imported or domestic oil, it doesn't change the faults in price discovery that require legal oversight for the benefit of the public. I support price caps on the high end and the low end. No more crashing to 0 then surging to 150. No more NG at 1 dollar then 7 dollars then back to 5 dollars meanwhile our bills only continue to rise no matter how much we produce, because Wall Street wants to ship it to China and Europe.

Anyway...

The Bakken Boom Goes Bust With No Money to Clean up the Mess
https://www.desmog.com/2020/08/08/bakken-fracking-oil-boom-bust-hess-cleanup/

North Dakota's Bakken oil and gas field leaking 275,000 tons of methane
https://www.noaa.gov/news/north-dak...gas-field-leaking-275000-tons-of-methane-year

Bakken Shale Wastewater Leak Taints River in North Dakota
https://www.wsj.com/articles/bakken...-leak-taints-river-in-north-dakota-1421977006

Fracking in Bakken Oilfield Largely Responsible for Global Rise in Ethane
https://www.ecowatch.com/fracking-i...nsible-for-global-rise-in-eth-1891128537.html

Shale oil, fracking and environmental issues
https://www.bhpioneer.com/local_new...cle_98a28112-9bb7-11e1-804e-0019bb2963f4.html

Alberta Oil Sands: Canada's Environmental Disaster
https://defendtheearth.org/alberta-oil-sands-canadas-environmental-disaster/

This is the world's most destructive oil operation—and it's growing
https://www.nationalgeographic.com/...s-is-growing-but-indigenous-people-fight-back

Old, unproductive oil and gas wells could cost up to $70B to clean up, says new report
https://www.cbc.ca/news/business/orphan-wells-alberta-aldp-aer-1.5089254

Federal Study Proves Fracking Contaminates Ground Water
https://ccejn.org/2019/10/04/federal-study-proves-fracking-contaminates-ground-water/

Fracking seems to poison groundwater within one kilometer
https://journalistsresource.org/environment/fracking-groundwater-poison-shale-gas-oil/

Earthquakes triggered by fracking, not just wastewater disposal, study finds
https://www.pbs.org/newshour/science/earthquakes-triggered-by-fracking

The Fossil Fuel Industry's Spin on High Energy Prices Is BS
https://www.sierraclub.org/sierra/fossil-fuel-industry-s-spin-high-energy-prices-bs

Influence of Speculators on Oil Prices
https://www.energy.senate.gov/publi...?File_id=c6ecd704-64e8-4130-a71b-f66e5b082b61

Oil, Gas Leasing Threatens 7 Western National Parks
https://www.npca.org/resources/3205-oil-gas-leasing-threatens-7-western-national-parks

National Parks Said At Risk From BLM Oil And Gas Lease Auction
https://www.nationalparkstraveler.o...rks-viewed-risk-blm-oil-and-gas-lease-auction

Maps: Shrinking national monuments makes way for extracting oil, coal and uranium
https://medium.com/westwise/maps-sh...-extracting-oil-coal-and-uranium-30c5752a9196

No such thing as "No Harm, No Foul" with oil and gas leasing
https://westernpriorities.org/2022/02/no-such-thing-as-no-harm-no-foul-with-oil-and-gas-leasing/

NextDecade Nets 1 MMty Contract with China Gas, Continuing 'Acceleration' of Offtake Agreements
https://www.naturalgasintel.com/nex...ontinuing-acceleration-of-offtake-agreements/

China signs huge LNG deals with U.S. supplier Venture Global
https://www.reuters.com/business/en...als-with-chinas-sinopec-documents-2021-10-20/

The Privatization of America's Public Lands: Why It's a Humanitarian Issue
https://novelhand.com/privatization-of-americas-public-lands/

Follow The Founders And Privatize Public Lands - Forbes
https://www.forbes.com/sites/stevehanke/2017/12/17/follow-the-founders-and-privatize-public-lands/

The Environmental Impacts of Offshore Oil Drilling - Soapboxie
https://soapboxie.com/social-issues/The-environmental-impacts-of-oil-drilling

The Catastrophic Damages from Oil Spills
https://oceanfdn.org/the-catastrophic-damages-from-oil-spills/

The Gulf of Mexico Is Still Dying: A Special Update On The BP Gulf Oil Spill
https://www.geoengineeringwatch.org...ng-a-special-update-on-the-bp-gulf-oil-spill/

Dirty and dangerous offshore drilling pollutes our ocean
https://usa.oceana.org/blog/dirty-a...g-pollutes-our-ocean-and-coastal-communities/

The world's worst offshore oil rig disasters
https://www.offshore-technology.com...deadliest-offshore-oil-rig-disasters-4149812/

Leave it in the ground! How fossil fuel extraction affects biodiversity
https://theconversation.com/leave-i...il-fuel-extraction-affects-biodiversity-19484

7 ways oil and gas drilling is bad for the environment
https://www.wilderness.org/articles/blog/7-ways-oil-and-gas-drilling-bad-environment

More Texans Seeking Assistance With Rapidly Rising Electricity Bills
https://www.msn.com/en-us/finance/n...h-rapidly-rising-electricity-bills/ar-AAZvg7y

68% decline in wildlife population since 1970: WWF
https://www.thestatesman.com/cities...ulation-since-1970-wwf-report-1502923161.html

Alarming Decline of Insect Population and What Causes the Crisis
https://www.sciencetimes.com/articl...line-insect-population-what-causes-crisis.htm

When Heat Waves Meet Air Pollution, Death Risks Rise Substantially
https://www.scientificamerican.com/...ir-pollution-death-risks-rise-substantially1/

 

[Brian4Liberty]

...
Wonder what the doddering old fool promised them?
...

I can guess. Weapons, pressure (with war as an option) on Iran, and human rights violations swept under the rug. In exchange, Hunter Biden got a consulting gig for $10 million a year (50% kickback to the big guy), and Pedo Joe got a private room and his choice of several children for 4 hours.

 

[Anti Federalist]

I stand by my original post which maintains that there is no shortage, therefore trying to flood the market with new exploration and drilling is entirely unnecessary, there are thousands of capped wells not in use, and whether it is imported or domestic oil, it doesn't change the faults in price discovery that require legal oversight for the benefit of the public. I support price caps on the high end and the low end. No more crashing to 0 then surging to 150. No more NG at 1 dollar then 7 dollars then back to 5 dollars meanwhile our bills only continue to rise no matter how much we produce, because Wall Street wants to ship it to China and Europe.

LOL...and I get called a statist for supporting constitutional tariffs, but here you are, quite literally, advocating Soviet style wage and price controls.

You do realize that was already tried under Jimmy Carter's administration in the 70s?

He mandated, through executive fatwa, oil price controls.

Result?

No oil to be had at any price.

68% decline in wildlife population since 1970: WWF
https://www.thestatesman.com/cities...ulation-since-1970-wwf-report-1502923161.html

Just picking one from the list you posted...if that headline is true, then the "ecology" movement, that began in 1970 for all intents and purposes, is an abject failure.

From the article:

It says the average two-thirds decline in global populations of mammals, birds, amphibians, reptiles and fish in less than 50 years in large parts is due to the same environmental destruction, which is contributing to emergence of zoonotic diseases such as Covid-19.

COVID 19 was released on purpose from a Chinese bio weapon lab disguised as a research facility.

The viruses' "gain of function" attributes were researched with US gov. funding through criminal money laundering on the part of Fauchi, the NiH and others.

 

[A Son of Liberty]

I stand by my original post which maintains that there is no shortage, therefore trying to flood the market with new exploration and drilling is entirely unnecessary, there are thousands of capped wells not in use, and whether it is imported or domestic oil, it doesn't change the faults in price discovery that require legal oversight for the benefit of the public. I support price caps on the high end and the low end. No more crashing to 0 then surging to 150. No more NG at 1 dollar then 7 dollars then back to 5 dollars meanwhile our bills only continue to rise no matter how much we produce, because Wall Street wants to ship it to China and Europe.

Anyway...

The Bakken Boom Goes Bust With No Money to Clean up the Mess
https://www.desmog.com/2020/08/08/bakken-fracking-oil-boom-bust-hess-cleanup/

North Dakota's Bakken oil and gas field leaking 275,000 tons of methane
https://www.noaa.gov/news/north-dak...gas-field-leaking-275000-tons-of-methane-year

Bakken Shale Wastewater Leak Taints River in North Dakota
https://www.wsj.com/articles/bakken...-leak-taints-river-in-north-dakota-1421977006

Fracking in Bakken Oilfield Largely Responsible for Global Rise in Ethane
https://www.ecowatch.com/fracking-i...nsible-for-global-rise-in-eth-1891128537.html

Shale oil, fracking and environmental issues
https://www.bhpioneer.com/local_new...cle_98a28112-9bb7-11e1-804e-0019bb2963f4.html

Alberta Oil Sands: Canada's Environmental Disaster
https://defendtheearth.org/alberta-oil-sands-canadas-environmental-disaster/

This is the world's most destructive oil operation—and it's growing
https://www.nationalgeographic.com/...s-is-growing-but-indigenous-people-fight-back

Old, unproductive oil and gas wells could cost up to $70B to clean up, says new report
https://www.cbc.ca/news/business/orphan-wells-alberta-aldp-aer-1.5089254

Federal Study Proves Fracking Contaminates Ground Water
https://ccejn.org/2019/10/04/federal-study-proves-fracking-contaminates-ground-water/

Fracking seems to poison groundwater within one kilometer
https://journalistsresource.org/environment/fracking-groundwater-poison-shale-gas-oil/

Earthquakes triggered by fracking, not just wastewater disposal, study finds
https://www.pbs.org/newshour/science/earthquakes-triggered-by-fracking

The Fossil Fuel Industry's Spin on High Energy Prices Is BS
https://www.sierraclub.org/sierra/fossil-fuel-industry-s-spin-high-energy-prices-bs

Influence of Speculators on Oil Prices
https://www.energy.senate.gov/publi...?File_id=c6ecd704-64e8-4130-a71b-f66e5b082b61

Oil, Gas Leasing Threatens 7 Western National Parks
https://www.npca.org/resources/3205-oil-gas-leasing-threatens-7-western-national-parks

National Parks Said At Risk From BLM Oil And Gas Lease Auction
https://www.nationalparkstraveler.o...rks-viewed-risk-blm-oil-and-gas-lease-auction

Maps: Shrinking national monuments makes way for extracting oil, coal and uranium
https://medium.com/westwise/maps-sh...-extracting-oil-coal-and-uranium-30c5752a9196

No such thing as "No Harm, No Foul" with oil and gas leasing
https://westernpriorities.org/2022/02/no-such-thing-as-no-harm-no-foul-with-oil-and-gas-leasing/

NextDecade Nets 1 MMty Contract with China Gas, Continuing 'Acceleration' of Offtake Agreements
https://www.naturalgasintel.com/nex...ontinuing-acceleration-of-offtake-agreements/

China signs huge LNG deals with U.S. supplier Venture Global
https://www.reuters.com/business/en...als-with-chinas-sinopec-documents-2021-10-20/

The Privatization of America's Public Lands: Why It's a Humanitarian Issue
https://novelhand.com/privatization-of-americas-public-lands/

Follow The Founders And Privatize Public Lands - Forbes
https://www.forbes.com/sites/stevehanke/2017/12/17/follow-the-founders-and-privatize-public-lands/

The Environmental Impacts of Offshore Oil Drilling - Soapboxie
https://soapboxie.com/social-issues/The-environmental-impacts-of-oil-drilling

The Catastrophic Damages from Oil Spills
https://oceanfdn.org/the-catastrophic-damages-from-oil-spills/

The Gulf of Mexico Is Still Dying: A Special Update On The BP Gulf Oil Spill
https://www.geoengineeringwatch.org...ng-a-special-update-on-the-bp-gulf-oil-spill/

Dirty and dangerous offshore drilling pollutes our ocean
https://usa.oceana.org/blog/dirty-a...g-pollutes-our-ocean-and-coastal-communities/

The world's worst offshore oil rig disasters
https://www.offshore-technology.com...deadliest-offshore-oil-rig-disasters-4149812/

Leave it in the ground! How fossil fuel extraction affects biodiversity
https://theconversation.com/leave-i...il-fuel-extraction-affects-biodiversity-19484

7 ways oil and gas drilling is bad for the environment
https://www.wilderness.org/articles/blog/7-ways-oil-and-gas-drilling-bad-environment

More Texans Seeking Assistance With Rapidly Rising Electricity Bills
https://www.msn.com/en-us/finance/n...h-rapidly-rising-electricity-bills/ar-AAZvg7y

68% decline in wildlife population since 1970: WWF
https://www.thestatesman.com/cities...ulation-since-1970-wwf-report-1502923161.html

Alarming Decline of Insect Population and What Causes the Crisis
https://www.sciencetimes.com/articl...line-insect-population-what-causes-crisis.htm

When Heat Waves Meet Air Pollution, Death Risks Rise Substantially
https://www.scientificamerican.com/...ir-pollution-death-risks-rise-substantially1/

ANd every single one fo those links are a JOKE, snowbll. Give me ONE link to an article that detracts from the industry, bro. You can't. I know you cant, because I've been out there and see it done, time and time again, kid. Come on, come out with me and see a well drilled - you'd love it! Ask AF = AF is there anything better than watching a well being drilled!? Jeezus you're a joke, dude

 

[Anti Federalist]

ANd every single one fo those links are a JOKE, snowbll. Give me ONE link to an article that detracts from the industry, bro. You can't. I know you cant, because I've been out there and see it done, time and time again, kid. Come on, come out with me and see a well drilled - you'd love it! Ask AF = AF is there anything better than watching a well being drilled!? Jeezus you're a joke, dude

Making hole, dude.

 

[Anti Federalist]

 

[Snowball]

ANd every single one fo those links are a JOKE, snowbll. Give me ONE link to an article that detracts from the industry, bro. You can't. I know you cant, because I've been out there and see it done, time and time again, kid. Come on, come out with me and see a well drilled - you'd love it! Ask AF = AF is there anything better than watching a well being drilled!? Jeezus you're a joke, dude

You're not understanding my position. I am certainly not against drilling or even fracking in the right places.
One of my best friends is a fracking sand hauler in Oklahoma and West Texas.
What I am against is boneheaded financial depravity. The answer to a perverse pricing system based on corruption is not to flood the market, it is to address the perverse pricing system itself. Nor do I want to see our energy shipping all over the world when Americans can't afford to pay their own damn bills.

 

[A Son of Liberty]

You're not understanding my position. I am certainly not against drilling or even fracking in the right places.
One of my best friends is a fracking sand hauler in Oklahoma and West Texas.
What I am against is boneheaded financial depravity. The answer to a perverse pricing system based on corruption is not to flood the market, it is to address the perverse pricing system itself. Nor do I want to see our energy shipping all over the world when Americans can't afford to pay their own damn bills.

The right places are where there is O&G, bud. It is a safe and clean process. I've been a part of programs where wells are drilled under reservoirs that provide drinking water to over 250,000 people. The laterals within the pay zone are so far below the surface that the impact on water supply is negligible. I've even been a part of a program where well control was lost within that very same area yet nothing impacted that water supply. The only thing that happened was that neighboring wells pressured up, briefly.

I'm not sure what you're addressing regarding the pricing scheme of O&G markets - it seems clear to me that they work in much the same way as most commodity markets work - supply and demand.

 

[A Son of Liberty]

Making hole, dude.

Are those Baker hands? BH gave up on US Land solids control in 2019 and it killed my entire Western US program in one fell swoop!

 

[Snowball]

I'm not sure what you're addressing regarding the pricing scheme of O&G markets - it seems clear to me that they work in much the same way as most commodity markets work - supply and demand.

Nothing could be further from the truth. Those days ended years ago.
See you around.

 

[A Son of Liberty]

Nothing could be further from the truth. Those days ended years ago.
See you around.

I'd be interested in hearing you explain how the O&G market is manipulated.

They're global commodities that are highly subject to demand pressures. There may be marginal manipulation, but I'm not seeing where the prices of those goods can be dramatically affected by manipulation. It seems as though they're too widely traded goods to be overly influenced by manipulation.

 

[Anti Federalist]

//

 

[A Son of Liberty]

//

Bumping your bump!

 

[devil21]

Perhaps I missed something but there appears to be dueling narratives going around about the outcome of the Saudi meeting regarding oil output. Last reports I saw were that no production increases were agreed to.

Oil price rises after Biden fails to secure output increases 7-18-22
https://www.theguardian.com/busines...s-joe-biden-saudi-output-petrol-diesel-prices

The price of oil rose on Monday after the US president, Joe Biden, came away from talks in the Middle East without an agreement on raising supply.

Biden had hoped to secure a promise from Saudi Arabia to increase its output of oil, which could lead to an easing of global supply pressures.

Lots of propaganda and false info flying around. Reminds me of Bill Casey's CIA quote about Americans believing everything that is false. Not sure why Fox News is exempt from that. I'm more inclined to believe foreign media than anything coming out of DC and the Mockingbird US media but ymmv.

It's much more likely that the Saudis told Biden to pound sand and are sending their oil to China instead. Petrodollar in final days so Saudis have no reason to do any further bidding of DC. Since none of them can be trusted fully, the best bet is that oil supply wasn't even discussed during the trip and it's all nonsense for the little people's consumption....

 

[A Son of Liberty]

Perhaps I missed something but there appears to be dueling narratives going around about the outcome of the Saudi meeting regarding oil output. Last reports I saw were that no production increases were agreed to.

Oil price rises after Biden fails to secure output increases 7-18-22
https://www.theguardian.com/busines...s-joe-biden-saudi-output-petrol-diesel-prices




Lots of propaganda and false info flying around. Reminds me of Bill Casey's CIA quote about Americans believing everything that is false. Not sure why Fox News is exempt from that. I'm more inclined to believe foreign media than anything coming out of DC and the Mockingbird US media but ymmv.

It's much more likely that the Saudis told Biden to pound sand and are sending their oil to China instead. Petrodollar in final days so Saudis have no reason to do any further bidding of DC. Since none of them can be trusted fully, the even better bet is that oil supply wasn't even discussed at all during the trip....

In my opinion, the Saudis telling Biden to cram it up his cram hole is about the clearest signal that the US is in the process of losing it's role as global hegemon. There was a time not so long ago that if a US president said, "drill", the Saudis said, "how deep, sir?"

All of the virtue signaling that O&G = bad has caused an absolute stifle in the market, moreso than shutting down KXL and restricting leases on Federal land. As AF pointed out, in a lot of cases, these are multi-billion dollar projects that no sane business leader is going to undertake when the political climate is so completely toxic to this business line. We're likely right now to talk ourselves right into a global depression and a total shortage of goods made from O&G byproducts, that i's going to make Idiocracy seem like a preferable outcome - you can always water plants, and anyone can grow them. You can't restart an entire industry after you've browbeaten it into oblivion.

The damage these people are doing to human civilization is frankly incalculable.

 

[Anti Federalist]

Are those Baker hands? BH gave up on US Land solids control in 2019 and it killed my entire Western US program in one fell swoop!

No, I think those are Danos Offshore coveralls.

 

[Anti Federalist]

As AF pointed out, in a lot of cases, these are multi-billion dollar projects that no sane business leader is going to undertake when the political climate is so completely toxic to this business line.

There was some finance pooh-bah on TC last night, said the exact same thing using almost the exact same words.

 

[Anti Federalist]

Perhaps I missed something but there appears to be dueling narratives going around about the outcome of the Saudi meeting regarding oil output. Last reports I saw were that no production increases were agreed to.

I noted that in post #3 I think it was.

No sooner had The Biden Thing made the announcement then some Hoo-Hah of Saudi Arabia was on Wolf Plotzer's show on CNN, walking every bit of it back.

 

[devil21]

I noted that in post #3 I think it was.

No sooner had The Biden Thing made the announcement then some Hoo-Hah of Saudi Arabia was on Wolf Plotzer's show on CNN, walking every bit of it back.

I'm so jaded by all of the lies from the mouthpieces, especially given the Casey quote, that neither report is true and output wasn't even discussed. The topic of discussion was probably more about coordinating joint steps together to continue the end of the petrodollar and the Saudi's pivot to BRICS.