Come on…since day one (literally with Keystone XL) every action taken or not taken with regard to this industry has been anti this industry. Why would an oil company commit to a multi year, 8 or 9 or 10 digit project when they know that the entire administration (not just the big guy) is going to put up hurdle after hurdle after hurdle to torpedo such a project? THEN even if they were successful with such a project, there’s talk of additional tax on “excessive” profits.
In the other thread, important points were raised: lots of leases, but no/limited new development…why? @Kennebec_Captain posted a twitter thread the other day about all the closed/sold/abandoned/reduced refinery capacity…why? No new refineries built in God knows how long…why?
You all have google as well as I do, research the answers to those questions yourself.
Which, one, is their job as publicly traded companies, and two profits and stock prices of oil companies always rise with rising oil prices…this is an EFFECT not a CAUSE.
They who? The oil companies? Are they bitching? As mentioned, profits and stock prices are doing fine. The ones bitching are those upset with gas prices while also supporting anti domestic oil policy.
It’d be like you never changing your oil or doing other maintenance to your car, then blaming Ford when it doesn’t run properly.
I assume you’re talking about this? (from Wikipedia):
“On July 6, 2020, in the US Army Corps of Engineers v. Northern Plains Resource Council case, the Supreme Court of the US ordered all Keystone XL work be halted.[96][93] The order, however, did not affect any other present or future pipeline construction in the United States, and would be in force until the circuit court, and then the Supreme Court deliver their final rulings.[97] In response, TC Energy stated that the US part of the project would be reassessed (but not abandoned); the Canadian part would proceed as before.[96]”
It was just the latest (and last) hurdle the pipeline faced. No particular reason to believe it couldn’t have been overcome like the other hurdles before it. However, the next item in the timeline:
“On January 20, 2021, United States President Joe Biden revoked the permit for the pipeline on his first day in office.[98]”
Led to the final item in the timeline:
“On June 9, 2021, the Keystone XL project was abandoned by its developer.[[22]]”
Which was the goal of the administration as stated throughout his campaign.
This is called capitalism…it’s what we do in non-socialist countries.
What you write is also implying collusion between the producers otherwise one or more of them would lower their price to take more market share. If you have evidence of collusion, please present it.
I’m not sure why anyone cares about a Canadian pipeline used to move Canadian oil. The sole purpose of that pipeline was to eliminate American jobs and thus save the oil companies money.
That’s not what is said…I said no/limited. But it matters because this administration touts how it’s approved more leases then acting shocked that they haven’t been utilized adequately. Meanwhile kicking the industry in the shins every chance it gets by what it does and/or fails to do.
because it’s an example of the anti oil policy of this administration, which is the topic of this thread. Also, I care because having a friendly next door neighbor supply me crude is preferable to having far flung suppliers who you have to go begging for more supply when a crisis hits.
I wasn’t complaining about prices. I’m complaining about people who complain about prices while at the same time supporting killing the exact industry that, if given some certainty that their capital won’t be wasted, could assist in alleviating those high prices.
I would say “full of crap” would be posting a graph showing covid crash recovery rig count (which is still not back to pre covid levels) and trying to…what?..attribute that rise to this administration’s pro-oil stance? More inline with overflowing with crap actually.
You’re right, there is a complaint there…but it’s with the administration’s policy, not with the price of gasoline…which I’ve made abundantly clear in post after post after post…(insert snarky emoji here)
“Day one” “investment”. Read your own posts. There should be no covid recovery or you can’t say “day one”. Or did you mean “day one—except if the data doesnt go my way yet i’d totally give the Biden Admin a pass on negative data cause of COVID?”
I don’t know what you’re talking about here. Is there a typo in this?
Bottom line is that it is my stance that this administration from Brandon on down is anti-fossil fuel industry (does anyone debate this?). This position of his has an effect of making refined products that consumers buy more expensive. Pretty simple.
