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I knew you were going there, I was being facetious as wellIt just sounded like some transition talk
It just sounded like some transition talk
I knew you were going there, I was being facetious as wellIt just sounded like some transition talk
What happened to muh energy independence?
Nothing. We have plenty of oil.
Why is Biden freaking out over $80 bbl oil?
Oil prices will hit $100 a barrel 'before you blink your eyes,' United Refining billionaire argues
Biden Admin Weighing Shutting Down Oil Pipeline In Michigan As Gas Prices Skyrocket Across U.S.: Report
https://www.dailywire.com/news/biden...oss-u-s-report
You're the one posting here.
I can't wait to wake up one of these days soon and the news is reporting, "Let's Go Brandon died today from natural causes." or better yet, "Let's Go Brandon was assassinated by John Wilkes Booth's great great great grandson earlier today."Oil prices will hit $100 a barrel 'before you blink your eyes,' United Refining billionaire argues
Joe Biden and everything to do with that ing worthless corpse!
Brandon
Biden administration considers action to ease gas price hikes
Secretary of Energy Granholm says the U.S. could release oil from its strategic reserve
https://www.consumeraffairs.com/news...es-110821.html
$80 oil is a crisis
Brandon sics the FTC on greedy oil companies with one hand...
Last edited by Winehole23; 11-17-2021 at 01:22 PM.
...while holding the biggest offshore leasing auction ever
US auctions off oil and gas drilling leases in Gulf of Mexico after climate talks
1 week old but what happened was the bottom fell out during the pandemic and a bunch of the drillers didn't pay their debts so now, nobody wants to give them money because they know they'll get super ed when the bottom falls out again
gas prices were higher 7 years ago
By 2015-16 shale producers over supplied the market while taking on tons of debt. By 2019 investors had cut off the money for more production until producers showed restraint and started delivering on the promised ROI. Then the pandemic happened.
All that's happening is the oil market coming back into balance, shale producers are showing restraint on increasing production and instead focusing on free cash flow and debt reduction. Most are planning to begin increasing production again by 2nd qtr '22.
So what's happening now is what was destined to happen anyways. Gas prices are returning to the sustainable price they should be as Winehole's chart shows. Repugs are effectively blaming Dems for it and Biden is freaking out. Jmo, but it looks like Biden is going to suc b to political pressure and make things worse by trying to intervene in the energy market. Just in time for the midterms.
Ford Plans To Produce 600,000 EVs a Year By the End of 2023
Ford CEO Jim Farley announced that the automaker is planning to produce 600,000 electric vehicles per year by the end of 2023, "which will double the number of EVs it originally intended to manufacture," notes Engadget. From the report: According to Automotive News, production will be spread across the Mustang Mach-E, F-150 Lightning and E-Transit. Ford's current EV lineup is wildly popular, Farley said, and the demand is "so much higher" than the company expected. The Mustang Mach-E is selling on three continents, while the Ford F-150 Lightning has been popular from the time it was announced. Ford received 100,000 reservations within three weeks after it was unveiled, and that number's now up to 160,000 -- all placed with a $100 refundable deposit. Due to the high demand for the F-150, Ford previously decided to invest $250 million to boost its production, creating 450 new jobs to help it make 80,000 trucks a year. It's unclear how much that target would change now that the company is doubling its manufacturing goal.
Norway Is Running Out of Gas-Guzzling Cars To Tax
When it comes to sales of electric cars, Norway is in a league of its own. In September, battery-powered electric vehicles accounted for 77.5 percent of all new cars sold. That figure makes Norway a world leader by a long way -- leapfrogging over the UK, where 15 percent of new car sales were electric as of October, and the US, where that number is just 2.6 percent. From a report:Norway's electric dream has been credited to a series of tax breaks and other financial carrots that mean brands like Tesla can compete on price with combustion engines. But these incentives -- and their success -- have created a unique predicament: Norway is running out of dirty cars to tax.
It's quite a big problem. The previous government -- a center-right coalition that was replaced by a center-left minority government in October -- estimated that the popularity of EVs was creating a 19.2 billion Norwegian krone ($2.32 billion) hole in the country's annual revenue. While EVs might be great news for the environment, their rapid success in Norway is now forcing some serious fiscal consternation. The road to this point has been long -- and offers lessons to other countries racing to ditch gas-guzzling combustion engines. In Norway, the most progressive electric vehicle policies in the world started with a pop group, an environmentalist, and a small red Fiat Panda. It was 1988 when activist Frederic Hauge, along with fellow green campaigners from the band A-ha, traveled to the Swiss city of Bern, where they found the red Fiat. A previous owner had converted the car to run off a lead battery, and the group planned to use the vehicle to persuade the Norwegian government to encourage electric vehicle uptake.
The Fiat became the centerpiece of a nine-year campaign in which Hauge and members of A-ha drove the car on Norway's toll roads without paying. The fines racked up, and when they remained unpaid, the vehicle would be impounded and sold at auction, where Hauge would buy it back and repeat the cycle of toll dodging. A-ha's celebrity members added glitz to the crusade against toll fees for EVs and Hauge -- who has led an environmental group called Bellona since 1986 -- courted press attention to demand incentives for electric cars. "By being a positive vigilante, he made the media and also the politicians aware of the electric car," says Oyvind Solberg Thorsen, director of Norway's Road Traffic Information Council, which publishes statistics about the country's roads and vehicles.
OPEC sets the world oil price and USA domestic manufacturers are quite happy to raise their domestic production to the world price
Biden eyes Strategic Petroleum Reserves crude oil release in coming days
https://news.yahoo.com/biden-eyes-sp...203355448.html
The U.S. release is expected to be between 30 million and 35 million barrels and would be carried out over time, one of the people said.
A release of that magnitude would represent about three day's worth of U.S. crude oil production.
This kind of can get you on a watch list.
Oil Will Hit $125 a Barrel in 2022, $150 in 2023: JPMorgan
https://www.thestreet.com/investing/...-2023-jpmorgan
ing $4.88 here in the Central Valley of CA.
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