Trump made the US Energy Independant

[pineapplemike]

My mill was nearly wiped out by the last oil glut. The night shift went from 15 people to just me and a foreman before the end of it. Lots of people lose their jobs in the oil field during boom/bust. It's pretty normal really.

we don't even have a night shift anymore lol

[TheReal_ND]

Yeah I keep forgetting we are in another glut. I'm out of the field altogether and am just happy to see low pump prices now lol

[Speaker to Animals]

What workers get paid has nothing directly to do with how much oil we consume and produce, and has literally no causative effect on production at all.

i know all the saudi arabia stuff, higher oil prices will help me personally so naturally i don't care about the market fundamentals, i just want trump to shut the hell up when it comes to oil

anyway what does zerohedge have to say today

Saudis Reportedly Target US Inventories By Slashing Oil Exports

WTI prices briefly popped above $52 before fading quickly after Bloomberg reported that after flooding the US market in recent months, Saudi Arabia plans to slash exports starting in January in an effort to dampen visible build-ups in crude inventories.

Bloomberg reports that, according to people briefed on the plans of state oil company Saudi Aramco, American-based oil refiners have been told to expect much lower shipments from the kingdom in January than in recent months following the OPEC agreement to reduce production

Oil traders were not that impressed...

And while the plan to slash Saudi exports to America may ultimately convince a skeptical oil market about the kingdom’s resolution to bring supply and demand incline, it may anger President Trump, who has used social media to ask the Saudis and OPEC to keep the taps open.

✔
@realDonaldTrump

Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!
6:44 AM - Dec 5, 2018

I realize liberals don't want to discuss Trump's deregulatory role in developing American oil resources, but that's a big reason why we are oil independent.


Last summer, when Trump opened up all our offshore oil reserves to development, democrats were absolutely apoplectic about it, talking about how Trump is terrible for doing this for weeks and weeks.

https://www.nytimes.com/2018/01/04/clim ... lling.html

Now we are not allowed to talk about Trump's role in developing our oil reserves? LOL

[brewster]

I realize liberals don't want to discuss Trump's deregulatory role in developing American oil resources, but that's a big reason why we are oil independent.

And yet the timeline data says otherwise.

What do you "energy independence" guys think of the growing export of NG? I think it should be illegal. I can at least understand the argument that energy independence is worth the environmental damage of fracking, but is lining the pockets of gas producers MAGA? That exported gas will shorten the time to when it gets harder and harder to produce, driving up domestic prices.

[Speaker to Animals]

I realize liberals don't want to discuss Trump's deregulatory role in developing American oil resources, but that's a big reason why we are oil independent.

And yet the timeline data says otherwise.

What do you "energy independence" guys think of the growing export of NG? I think it should be illegal. I can at least understand the argument that energy independence is worth the environmental damage of fracking, but is lining the pockets of gas producers MAGA? That exported gas will shorten the time to when it gets harder and harder to produce, driving up domestic prices.

The data suggest precisely that. Go read the OP link which contains the relevant data charted out.

[Speaker to Animals]

What was I thinking. No liberal MHF poster ever bothers to read the links to articles in OP before criticizing the arguments they never bothered to read..

Here is one relevant chart:

[PartyOf5]

What do you "energy independence" guys think of the growing export of NG? I think it should be illegal.

Why should it be illegal?

[Fife]

You don't own that NG, and you certainly aren't qualified to make decisions about its utilization.

[Ph64]

We actually have a diesel problem. Turns out that the very light oil that comes from fracking doesn't lend itself to the kind of quantity of bunker-fuel/diesel that heavier crude oils do.

[brewster]

What was I thinking. No liberal MHF poster ever bothers to read the links to articles in OP before criticizing the arguments they never bothered to read..

Here is one relevant chart:

What I see is crude growth changes direction BEFORE the election, and Trump was not expected to win. Also derivative charts like that one of "production growth" rather than actual production rate can be misleading.

As for NG sales, if we agree that energy security is part of national security, then there's a reason to limit export.