Home Forums Hunting & Shooting Hunter's Campfire The Cost of Oil and Gas

wasting your time Ed. Was everyone complaining when oil was MINUS 28 dollars a barrel?


Any idea how much the Russia sanctions by Biden and the Eu on Russian energy has affected world wide prices?

Remember monetary easing?When you print up trillions of dollars in a few years and that causing rising prices on everything?

Right up there with and closely related to the consequences of electing (or allowing to be installed) a dipshit for a President.

Amen from the back row.

Facts are a hard pill for some to swallow EdM.

The ebb and flow.

Kinda glad gas prices spiked. Hopefully it slows down the truck market. I need a new truck and schit has gotten crazy!

Not to pile on, but no one was complaining pre 2020 when oil companies where going bankrupt left and right.
I work in refining and our refinery alone lost 100 million in 2020.
People can't wrap their minds around how expensive exploration, production and refining actually are and as a result oil company margins are not that great.

Ed, just for the sake of conversation on the topic.

How critical to the industry is that lease mentioned in your OP?

How much overall effect will it have on production should it even pan out?

How many already leased/explored, and even previously producing, areas are now "mothballed" (for lack of a better term) that could be brought back into production quickly and that would actually provide more immediate benefit to the American consumer in particular and the O&G industry in general?

I ask you because even though I could likely search industry/.gov sources to find the answers it would take me much longer than I have any interest in doing so today.

As they say, ask an expert.

Thanks in advance.

Right on BWalker.

Saw something on Fox Business a few weeks ago, that basically said EXISTING refineries are running at 95%. They can't do much more. Might not be so much of an oil supply thing as so many refineries have been shut down or converted to something for bio fuels. I know the Shell Norco facility is not running fuel at all right now. The only one close to my local is Murphy, and they are running balls to the wall.


Clyde

I believe that Shell is in the process of revamping and restarting the refinery they shuttered at Convent.

For bio-fuels maybe.

I’m afraid we are going to lose our refining capabilities. New refineries can be built where there are less restrictions.
I was told once , it’s just as cheap to ship gasoline in as crude. With OSHA, union and environmental problems, I think new refineries will be built outside the US. More jobs shipped overseas. Hasbeen

I recall a Thomas Edison quote, Most people don't recognize opportunity, because it comes around wearing overalls, looking like hard work.

Here is the latest EIA data that comes out every Wednesday. Lot's of info here including refinery run rates. It's common practice for refineries to have "turnaraounds" and "shutdowns" for maintenance, etc, as they are regularly scheduled. People need to disregard anything Old Toot has to say about this and any other subject for that matter.

Thanks JG. Interesting

Is this available too online

I see coal and oil making a strong comeback the past few days

It very well may be ribka, I'm not sure. We have a subscription to the DTN network which is where this comes from.