Here’s Joe today
1. that's gross, not net
2. you won't allow them to expand supply
3 there isn't the refining capacity even if there was more oil, thanks to Democrat policies— William Teach2 ??????? #refuseresist (@WTeach2) November 7, 2022
Here’s also Joe
Joe Biden Promises Climate Activist at Rally in New York: ‘No More Drilling’
President Joe Biden told a climate activist on Sunday he would not allow any new drilling in the United States, just days after he complained that oil companies are not drilling enough.
“No more drilling. There is no more drilling,” Biden said, speaking to a climate activist as he finished up a rally in New York for Gov. Kathy Hochul (D-NY). “I haven’t formed any new drilling.”
A young woman standing front and center held up a sign protesting Biden for allowing drilling on federal lands.
There’s video at the link. Friday Joe flew from California to Chicago. Saturday from Chicago to Philly, then to Delaware. Sunday from Delaware to NY, then to DC. These all required fossil fueled flights on a jumbo jet, followed by a backup jumbo jet and fighter jets, then large convoys to get where he’s going, then reverse back to the airport. Then a big convoy to a rally in Maryland Monday Biden has also said he would talk directly to oil companies. They do not care
Big Oil Is Not Dancing To Government Tunes. Period.
Several days ago, President Biden made a media splash when he threatened oil companies with windfall taxes and “other restrictions” if they don’t stop returning cash to shareholders and start investing this cash in more oil production.
The industry, via the American Petroleum Institute, responded with yet another reiteration of the fact that the oil market is a global one, and producers don’t have complete control over prices because it is also a free market.
Oil producers, big and small, did not react to the U.S. President’s latest attack on it. The industry simply continued what it has been doing since oil prices rebounded: returning cash to shareholders and planning its spending carefully.
Bloomberg’s Javier Blas summed the situation up in a pithy commentary that basically reminded everyone that this same administration that is now calling for more oil, just two years ago pledged to reduce oil drilling in the U.S. as much as possible. And that this administration, along with other powerful institutions was the same one that convinced the oil industry there was really no point in including strong production growth in their long-term plans.
Joe’s a fool. And a hypocrite. He doesn’t care if your gas and oil costs are high.
No, but where oil is suffering is at the hands of Wall Street and banks who are no longer investing in FRACKING. Fracking is where the oil is being produced and that has come to a near halt.
As a result Wall Street and billionaires own the USA even more than they ever have in the history of the USA.
“Leave no doubt” – get out and vote for your country and you kids! VOTE REPUBLICAN
https://commoncts.blogspot.com/2022/11/leave-no-doubt-get-out-and-vote-for.html
Our esteemed host quoted:
So, he’s both a fool and a liar.
Even if you’re an environmentalist whacko, you have to realize that we can’t just quit oil and natural gas now; there is no infrastructure to provide energy without them. And if we will be using oil and natural gas for the at least near and mid-term future, wouldn’t it make more sense to drill for such here, in the United States, rather than ship more of our productivity to Russia and Saudi Arabia and Venezuela?
We are producing more bpd of oil than under Trump.
Why would any oil company choose to do anything new that might endanger their record profits?
In times of shortages profits go up. Oil companies care about profits not customer satisfaction. Why do you think the Saudis have cut back production?
Regardless of how much or how little oil is produced in the USA Dana will have to pay the global price for oil
Unless of course socialists put tariffs on exporting gasoline
Our refineries are running at full capacity already. More drilling will not help.
Build a new refinery? Good luck with that. Neither permits nor financing are available even in red states