Tag: OPEC

  • OPEC to cut oil production further, flips bird to Biden

    OPEC to cut oil production further, flips bird to Biden

    (AP Photo/Anis Belghoul)

    JAZZ SHAW | HotAir

    Back in April, OPEC+ announced cuts to their oil production of up to two million barrels per day. This was done amid fears that a global economic slowdown would reduce demand, further driving down prices (and profits). Because of the shakey energy situation in the United States, Joe Biden sent envoys to ask Arab leaders to reconsider. Now he apparently has his answer from the oil-rich nations. At this week’s annual OPEC+ meeting, Saudi Arabia announced that it would be “voluntarily” reducing production by another one million barrels per day in July and is urging the rest of the alliance to do the same. The move is expected to slow the gradual decrease in the price of oil and the corresponding cost of gasoline at the pump. It’s also a clear sign that Saudi Arabia and their good friends in Iran don’t give two hoots about any guidance from the White House anymore. (Wall Street Journal, subscription required)

    Saudi Arabia said Sunday it would cut 1 million barrels of oil a day as part of a deal between OPEC and its allies after one of the most contentious production meetings in recent years amid concerns over slowing global energy demand.

    Saudi Arabia said the output cut was for July and on top of previously announced curbs, which would be extended until the end of 2024. The United Arab Emirates and some other large producers also extended their previously announced cuts.

    The Saudi announcement came soon after the Organization of the Petroleum Exporting Countries and its Russia-led allies said the group had agreed to stick to current production targets until the end of the year.

    Here is Prince Abdulaziz bin Salma making the announcement.

    https://www.wsj.com/video/watch-saudi-arabia-cuts-oil-output-following-opec-meeting/8F6E12C6-3851-4781-B985-D65BC7B27F80.html

    While it may seem like a distant memory, it was only a few years ago, back in 2019, when the United States was a net energy exporter. We produced all of the oil and gas we needed and were selling quite a bit of it to Europe and other nations. We were cranking out so much natural gas that, at times, the producers were literally giving it away to anyone with a truck capable of hauling it. During the last year of Donald Trump’s presidency, the average price of gasoline actually fell below two dollars per gallon at some points.

    During that same period, Trump managed to forge an alliance between Saudi Arabia and Isreal, putting the Saudis in conflict with Iran. And when Donald Trump wanted a favor from the Saudi royal family, he generally got it. Whether that was because they respected him or they were frightened that he might do something crazy can probably never be known. But the relationship worked.

    Now look where we are today. A couple of months ago, Saudi Arabia restored their ties with Iran, much to the dismay of our allies in Israel. They also established new trade agreements with Venezuela, shoring up the power of that country’s dictator. And when Joe Biden asked the Saudis to increase production to keep gas prices down as we head into the primary season (after promising to turn them into “pariahs” on the campaign trail), they turned around and slashed their oil output further.

    Nobody in OPEC+ respects the United States anymore, and they’re certainly not afraid of us. Why would they be? Meanwhile, we’re struggling to meet our own energy needs while we’re still sitting on some of the largest proven oil and gas reserves in the world. Today’s story offers the perfect intersection between foreign policy and domestic policy in the United States. And both have been equally disastrous under Joe Biden’s tenure. How any sane person can even consider voting for another term for our doddering, pratfalling president is a mystery to me. But here we are. Welcome to life in 2023.

    Original Here

  • White House Gives Game Away …Haven’t Dealt With Rising Gas Prices

    White House Gives Game Away …Haven’t Dealt With Rising Gas Prices

    White House Gives Game Away When Asked Why They Haven’t Dealt With Rising Gas Prices

    AP Photo/Susan Walsh

    You may have noticed that the Biden team has been completely lacking when it comes to doing anything to deal with gas prices. Energy Secretary Jennifer Granholm laughed her head off when asked about Americans having to deal with the rising prices, claiming there was nothing they could do, that it was up to OPEC.

    Even 11 Democratic senators called them out on it, demanding they take some action. Those senators likely realize that some of them are going to be in trouble come 2022 — if things continue along this path, with the Biden Administration doing nothing to help and everything to hurt on the issue.

    Once again on Friday, White House Press Secretary Jen Psaki said they had no plan of action to deal with the rising prices.

    https://twitter.com/TheFirstonTV/status/1459236620822003719?s=20

    All they seem to have done is prostrate themselves before OPEC and begged them to pump more. Because OPEC pumping oil apparently doesn’t affect climate change, only American drilling and pumping does.

    But then, Psaki said something that she probably shouldn’t have said and gave the game away.

    The high prices should make us want to move even more to clean energy options, Psaki said during the Friday press briefing.

    https://twitter.com/townhallcom/status/1459239313607176192?s=20

    “Our view is that the rise in gas prices over the long term makes an even stronger case for doubling down our investment and our focus on clean energy options so we are not relying on the fluctuations and OPEC and their willingness to put more supply and meet the demand in the market,” Psaki said.

    In other words, if you’re suffering now, it’s because you really need to learn the lesson that green is the way to go.

    So, this is why they’re acting like there’s nothing that they can do about the issue, that it’s out of their control, because they really want to use the rising prices as a cudgel to further their green dreams.

    That’s more than a little disgusting, when we have more than ample gas and oil sources here, without having to rely upon other countries, or on unreliable and expensive green energy sources. If we’re willing to make use of those sources. But Biden has been anti-fossil fuels since he came in — cutting the Keystone XL pipeline permit, abandoning the oil-drilling Willow Project in Alaska, banning more oil and gas leases on federal lands. Now, Biden is even considering cutting down the Line 5 pipeline that is critical for oil and gas in the Midwest, as well as revoking a permit for a Missouri pipeline.

    Psaki then whines that people are upset about rising prices, “It’s become a political cudgel. It shouldn’t be.

    https://twitter.com/RNCResearch/status/1459233531620642816?s=20

    Um, yes, you’re the folks in office, you’re the folks with the horrible policies; Now you’re saying we can’t even complain about your failures and point a finger at you? But, this disaster is on them.
    https://redstate.com/nick-arama/2021/11/13/white-house-gives-game-away-when-asked-why-they-havent-dealt-with-rising-gas-prices-n474797

    Comment/Opinion:

    1. Carbon based products (oil & natural gas) are NOT fossil fuels. They are an abiotic; which means physical rather than biological; not derived from living organisms. Where did the expression fossil fuels come from? – J.D. Rockefeller.

    2. Single source energy such as uranium or solar will not replace; multi-stream, which continues to regenerate. Simple examples below of the more than 6000 everyday items we use, aside from the commercial, industrial, and residential applications:

    Adhesive, Air mattresses, Ammonia, Antifreeze, Antihistamines, Antiseptics, Artificial limbs, Artificial turf, Asphalt , Aspirin, Awnings, Backpacks, Balloons, Ballpoint pens, Bandages, Beach umbrellas, Boats, Cameras, Candies and gum, Candles, Car battery cases, Car enamel, Cassettes, Caulking, CDs/computer disks, Cell phones, Clothes, Clothesline, Clothing, Coffee makers, Cold cream, Combs, Computer keyboards, Computer monitors, Cortisone, Crayons, Credit cards, Curtains, Dashboards, Denture adhesives, Dentures, Deodorant, Detergent, Dice, Dishwashing liquid, Dog collars, Drinking cups, Dyes, Electric blankets, Electrical tape, Enamel, Epoxy paint, Eyeglasses, Fan belts, Faucet washers, Fertilizers, Fishing boots, Fishing lures, Floor wax, Food preservatives, Footballs, Fuel tanks, Glue, Glycerin, Golf bags, Golf balls, Guitar strings, Hair coloring, Hair curlers, Hand lotion, Hearing aids, Heart valves, House paint, Hula hoops, Ice buckets, Ice chests, Ice cube trays, Ink, Insect repellent, Insecticides, Insulation, iPad/iPhone, Kayaks, Laptops, Life jackets, Light-weight aircraft, Lipstick, Loudspeakers, Lubricants, Luggage, Model cars, Mops, Motorcycle helmets, Movie film, Nail polish, Noise insulation, Nylon rope, Oil filters, Packaging, Paint brushes, Paint roller, Pajamas, Panty, hose, Parachutes, Perfumes , Permanent press, Petroleum jelly, Pharmaceuticals, Pillow filling, Plastic toys, Plastics, Plywood adhesive, Propane, Purses, Putty, Refrigerants, Refrigerator linings, Roller skate wheels, Roofing, Rubber, cement, Rubbing alcohol, Safety glasses, Shampoo, Shaving cream, Shoe polish, Shoes/sandals, Shower curtains
    Skateboards, Skis, Soap dishes, Soft contact lenses, Solar panels, Solvent, Spacesuits, Sports car bodies, Sunglasses
    Surf boards, Swimming pools, Synthetic rubber, Telephones , Tennis rackets, Tents, Tires, Tool boxes, Tool racks, Toothbrushes, Toothpaste, Transparent tape , Trash bags, Truck and automobile parts, Tubing, TV cabinets, Umbrellas
    Unbreakable dishes, Upholstery, Vaporizers, Vinyl flooring, Vitamin capsules, Water pipes, Wind turbine blades , Yarn

    3. During 2018 the Trump Administration changes resulted in the US becoming energy independent; therein removing the middle men (OPEC/Bankers/Politicians) and exports exceeded imports. I wouldn’t debate the C5+ (condensate) legislative changes; never the less, it was a game changer.

    Energy Security: Last week, the U.S. exported more oil than we imported, for the first time in 70-plus years. And it happened not because of decades of federal “energy policies,” but despite them.
    https://www.investors.com/politics/editorials/energy-independence-trump/

    4. And why did the Biden Administration cancel the Keystone Pipeline; their first day in office? I will use Canada & Hunter Biden’s investment holding in China Petroleum as an example of why these Presidents & Prime Ministers continually cancel pipeline construction, the safest method of transportation. Follow the money…..

    https://twitter.com/MandysTake/status/1459517458570694666?s=20

    Sinopec, a Chinese state-run oil and gas company also known as China Petroleum & Chemical Corporation, is building its largest ever gas storage facility amidst skyrocketing prices of natural gas.

    The new project follows Sinopec’s Fuling Shale Gas Field hitting a country-wide record for production quantity. Fuling Shale Gas Field – the first commercially developed and operated large-scale shale gas field in China – announced on October 8 that it has produced 40 billion cubic meters of shale gas, setting a new record for the cumulative production of shale gas in the country.

    Hunter Biden’s Bohai Harvest RST (BHR) Partners has reportedly amassed nearly 30 percent stake in Sinopec since finalizing its controversial $1 billion investment in 2015. According to reports, the son of President Joe Biden still owns a 10 percent stake in BHR Partners.
    https://newenergyreport.com/2021-11-09-hunter-biden-firm-invests-billion-chinese-oil.html

  • For Six Months Biden Has Shut Down U.S. Oil Production

    For Six Months Biden Has Shut Down U.S. Oil Production

    For Six Months Biden Has Shut Down U.S. Oil Production, Today Biden Asks OPEC to Pump More Oil

    There’s hypocrisy, there’s double speak, there’s stupid decisions based on politics…. and then there’s this level of Biden hypocrisy and stupidity that cannot be adequately encapsulated.   President Trump’s energy production policy made the U.S.A. energy independent.  We were actually exporting oil and gas to other nations.

    However, in the previous six months Joe Biden has:  (1) Shut down oil and energy development in ANWAR {LINK} which would increase use of the Alaska pipeline. (2) Blocked the Keystone Pipeline from completion {LINK} (3) Banned energy development on federal lands {LINK}. (4) Shut down the sale of energy leases in the Gulf of Mexico {LINK}. and (5) Blocked energy development in Texas, Louisiana, New Mexico and Alabama {LINK}  … As a direct and immediate consequence, gas and fuel prices have skyrocketed.  The price of Unleaded Regular Gasoline is now up over 60% from 2020.  Now THIS:

    The price of gasoline is directly attributable to Joe Biden policy in his war against oil.  However, now that Americans are being crushed with massive prices for gasoline; and Biden is getting massive heat for his ridiculous position; this insufferable administration has the absolute nerve to ask Russia and mid-east oil producers, OPEC, to increase their production. {LINK}  You cannot make this up…

    Comment: In light of the fact and most would agree, Joe Biden appears to have serious cognitive issues. And yet, he continues as President. Cancelling pipelines – cancelling production leases; thus, causing major increases at the pumps. But, as an Albertan, I can share this is exactly how they destroy the economy. PM Trudeau cancelled the construction of four major national pipelines. He then destabilized the economy by creating massive debt load, opened the borders to unlimited immigrants and provided early release to criminals. He decimated the small business sector with his lock downs. Does any of this sound familiar? Meanwhile, the supposed opposition, CPC has provided hours of dramatic and creative “posturing”, they were going to make PM Trudeau accountable. Meanwhile one scandal after another has unfolded. Now, clearly Canada is 1/10 the size population wise, in comparison to the US. But, we have one Department (Infrastructure & Communities) alone that can not account for $186 billion in a single year. The Biden Administration is following the communist destabilizing & take over play book to a T. IMHO, President Biden does not have the capacity to continue in his leadership role and is incapable of following the simplest of instructions:

    https://twitter.com/DanScavino/status/1425159061524320264?s=20