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Re: OPEC gouging us again [Re: Donnersurvivor] #7687113
10/07/22 11:06 AM
10/07/22 11:06 AM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Posts: 11,135
Armpit, ak
Originally Posted by Donnersurvivor
Originally Posted by Boco
High oil prices=good for Canada.

The recession the u.s is jumping into isn't going to be good for us or you.


Pick your poison; high inflation or recession. You have to slow economic activity to reign in inflation caused by printing money (Fed buying treasuries and mortgage backed securities), ridiculously low interest rates, and government stimulus programs.

Last edited by Dirt; 10/07/22 11:09 AM.

Who is John Galt?
Re: OPEC gouging us again [Re: danny clifton] #7687134
10/07/22 11:39 AM
10/07/22 11:39 AM
Joined: Aug 2011
Posts: 45,265
james bay frontierOnt.
B
Boco Offline
trapper
Boco  Offline
trapper
B

Joined: Aug 2011
Posts: 45,265
james bay frontierOnt.
Just give all the workers a big raise.
Keep everything rockin and rollin.

Last edited by Boco; 10/07/22 11:40 AM.

Forget that fear of gravity-get a little savagery in your life.
Re: OPEC gouging us again [Re: Boco] #7687143
10/07/22 11:55 AM
10/07/22 11:55 AM
Joined: Jan 2008
Posts: 9,153
Alaska and Washington State
W
waggler Offline
trapper
waggler  Offline
trapper
W

Joined: Jan 2008
Posts: 9,153
Alaska and Washington State
Originally Posted by Boco
Just give all the workers a big raise.
Keep everything rockin and rollin.

I assume you are being sarcastic.
Of course everyone knows "big raises", handouts, etc., in these economic situations just lead to higher inflation that invariably is greater than the rise in income.


"My life is better than your vacation"
Re: OPEC gouging us again [Re: Dirt] #7687149
10/07/22 12:04 PM
10/07/22 12:04 PM
Joined: Jan 2018
Posts: 4,526
MN
D
Donnersurvivor Online sick
trapper
Donnersurvivor  Online Sick
trapper
D

Joined: Jan 2018
Posts: 4,526
MN
Originally Posted by Dirt


Pick your poison; high inflation or recession. You have to slow economic activity to reign in inflation caused by printing money (Fed buying treasuries and mortgage backed securities), ridiculously low interest rates, and government stimulus programs.


Inflation has been good for business for me, a recession will hurt my business quite a bit. Either way I'm content.

Re: OPEC gouging us again [Re: danny clifton] #7687150
10/07/22 12:06 PM
10/07/22 12:06 PM
Joined: Apr 2007
Posts: 2,293
venango county,pennslyvania
minklessinpa Offline
trapper
minklessinpa  Offline
trapper

Joined: Apr 2007
Posts: 2,293
venango county,pennslyvania
used to be i had 5 refineries in nw pa.pennzoil,quaker state, emilie,wolfshead and havilin.now none.


life member Pennsylvania trappers
life member vfw
member fta
Re: OPEC gouging us again [Re: danny clifton] #7687168
10/07/22 12:37 PM
10/07/22 12:37 PM
Joined: Dec 2006
Posts: 29,750
williamsburg ks
D
danny clifton Offline OP
"Grumpy Old Man"
danny clifton  Offline OP
"Grumpy Old Man"
D

Joined: Dec 2006
Posts: 29,750
williamsburg ks
On 9/12 Mecca should have been a gravel pit. By 10-1 the survivers in Saudi Arabia should have had only one concern. Staying alive. Surviving Saudi Royals should have been adjusting to life in a U.S. federal penitentiary


Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
Re: OPEC gouging us again [Re: danny clifton] #7687200
10/07/22 01:51 PM
10/07/22 01:51 PM
Joined: Jan 2008
Posts: 4,790
M.T.V. Alaska
Y
yukonjeff Offline
trapper
yukonjeff  Offline
trapper
Y

Joined: Jan 2008
Posts: 4,790
M.T.V. Alaska
The Saudis are not gouging us, we are gouging ourselves after Biden shut down oil production in the US just like they did in Europe. Its no accident. They want us all dead.

The global warming scam is to try justifie the deep state turning off the power and fuel to speed up their great reset.

Re: OPEC gouging us again [Re: danny clifton] #7687315
10/07/22 06:45 PM
10/07/22 06:45 PM
Joined: Jul 2017
Posts: 2,672
Ohio
W
Willy Firewood Offline
trapper
Willy Firewood  Offline
trapper
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Joined: Jul 2017
Posts: 2,672
Ohio
Biden and cronies have not shut down ALL oil production in this country.

Here in Ohio on private land, oil production is thriving. A new local well just began producing. In its first month it produced more than 9,000 barrels of oil.


FRAC LIVES MATTER
Re: OPEC gouging us again [Re: danny clifton] #7687344
10/07/22 07:48 PM
10/07/22 07:48 PM
Joined: May 2011
Posts: 1,398
Kansas
K
Kansas Cat Offline
trapper
Kansas Cat  Offline
trapper
K

Joined: May 2011
Posts: 1,398
Kansas
LOL. Biden's partisan foolishness is great for independent oil producers in the US. Releasing oil from the SPR is probably the most desperate political act I have seen in my lifetime. Due to the finite nature of the reserve, the price relief was always going to be temporary. OPEC+ is simply showing Joe and friends who controls the oil market. The writing was on the wall that the democrats were going to get waxed in the midterms. The committee running the country probably thought that was their best shot to avoid a disastrous showing in the midterms.For the sake of people pursuing the American dream, I hope they still do. Danny, do you decide what to charge when you offer to haul gravel for customers?

Last edited by Kansas Cat; 10/07/22 07:54 PM.
Re: OPEC gouging us again [Re: danny clifton] #7687391
10/07/22 08:32 PM
10/07/22 08:32 PM
Joined: Aug 2012
Posts: 3,972
South Dakota
R
Rat Masterson Offline
trapper
Rat Masterson  Offline
trapper
R

Joined: Aug 2012
Posts: 3,972
South Dakota
This is why Joe went to meet with the prince, if prices start to go down cut production. That way everyone will blame the Saudi's. This was all planned.

Re: OPEC gouging us again [Re: danny clifton] #7687439
10/07/22 09:32 PM
10/07/22 09:32 PM
Joined: Dec 2006
Posts: 29,750
williamsburg ks
D
danny clifton Offline OP
"Grumpy Old Man"
danny clifton  Offline OP
"Grumpy Old Man"
D

Joined: Dec 2006
Posts: 29,750
williamsburg ks
Kansas cat I cant get over members of the Saudi royal family's funding of 9/11.


Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
Re: OPEC gouging us again [Re: danny clifton] #7687449
10/07/22 09:45 PM
10/07/22 09:45 PM
Joined: May 2011
Posts: 1,398
Kansas
K
Kansas Cat Offline
trapper
Kansas Cat  Offline
trapper
K

Joined: May 2011
Posts: 1,398
Kansas
Every family has bad apples.

Re: OPEC gouging us again [Re: Chancey] #7687451
10/07/22 09:52 PM
10/07/22 09:52 PM
Joined: Apr 2007
Posts: 5,849
ohio
Ohio Wolverine Online content
trapper
Ohio Wolverine  Online Content
trapper

Joined: Apr 2007
Posts: 5,849
ohio
Originally Posted by Chancey
I wish I understood the Petrodollar system and OPEC better. A friend of mine that worked for Saudi Aramco told me that the US has to import oil from the middle east because nearly all of our refineries here in the US can only refine middle east oil into products, and Not west Texas Brent crude or many other oils found here in the US. Said that if we wanted to refine our own oil, then most of our refineries would have to be totally overhauled. So we have all this oil and natural gas here in Texas and most of it is piped across the state to the Gulf of Mexico and put on a boat for who knows where?

I don't know if this is true or not, but if it is it makes sense why we are so in bed with Saudi Arabia. They promised to sale their oil in only dollars and we promised to buy their oil for most of our refined products. Again, I don't know if this is true, but makes sense to me. Henry Kissinger, an evil genius he was.

Close , but the way I understood the Nixon Kissinger deal was our country would buy all our oil from OPEC , and OPEC would pay 20% of their income from oil to our country's National Debt .

Remember all the shortages during Nixon's time in office?
Gasoline went from 36 cents a gallon in 1972 to 53 cents a gallon in 1974 , and hasn't stopped climing since.
A cup of coffee was 10 cents and went to 40 cents during the shortages .
Toilet paper , sugar, you name it were all in short supply.
Our country also sent products to their world countries , with tax rebates to the manufacturers , that are still head quartered here today.
$ 3.00 Shoes were made for pennies , shipped back here and sold for $20 and up.
And you wonder how these politicians become multi millionares , on their salaries ?


We have met the enemy and the enemy is us!
Re: OPEC gouging us again [Re: danny clifton] #7687489
10/07/22 10:48 PM
10/07/22 10:48 PM
Joined: Feb 2007
Posts: 667
N. Dakota
1
1lessdog Offline
trapper
1lessdog  Offline
trapper
1

Joined: Feb 2007
Posts: 667
N. Dakota
Why would OPEC want to help us. With the current administration they are all about EV and want to stop everything fossil fuel.

Re: OPEC gouging us again [Re: 1lessdog] #7687501
10/07/22 11:18 PM
10/07/22 11:18 PM
Joined: Dec 2006
Posts: 11,294
East-Central Wisconsin
B
bblwi Online content
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bblwi  Online Content
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Joined: Dec 2006
Posts: 11,294
East-Central Wisconsin
The link below dicusses some of the issues and politics of oil from several perspectives.

Bryce

https://www.forbes.com/sites/rrapie...-back-us-oil-production/?sh=2c62e0246b6f

Re: OPEC gouging us again [Re: Dirt] #7687502
10/07/22 11:18 PM
10/07/22 11:18 PM
Joined: Mar 2014
Posts: 3,653
Central Texas
C
Chancey Offline
trapper
Chancey  Offline
trapper
C

Joined: Mar 2014
Posts: 3,653
Central Texas
Originally Posted by Dirt
Import sources Gross imports Petroleum products
Total, all countries 8.47
OPEC countries 0.96 (11%)
Persian Gulf countries 0.69 (8%)
Top five countries1
Canada 4.34 (51%)
Mexico 0.71 (8%)
Russia 0.67 (8%)
Saudi Arabia 0.43 (5%)

2021
The top five sources of U.S. crude oil imports by percentage share of U.S. total crude oil imports in 2021 were:
Canada 62%
Mexico 10%
Saudi Arabia 6%
Russia 3%
Colombia 3%



So what % of oil discovered and produced here in the lower 48 is consumed here? 100%?

25 years ago I was told in college that we were the both the largest producer and the largest consumer. That we consumed 100% of what we produced, and then had to import the largest amount as well due to our wicked and wasteful ways. Later on, I was told that was nonsense, but I never have found an accurate number or where our oil goes.

Like any commodity I guess. Our farmers slave to grow corn and soybeans and they get put on a train to somewhere.......?


Resident Conspiracy Theorist
Accused Moron, Nazi, Low IQ, and Putin Fan Boy
Re: OPEC gouging us again [Re: Ohio Wolverine] #7687503
10/07/22 11:19 PM
10/07/22 11:19 PM
Joined: Mar 2014
Posts: 3,653
Central Texas
C
Chancey Offline
trapper
Chancey  Offline
trapper
C

Joined: Mar 2014
Posts: 3,653
Central Texas
Originally Posted by Ohio Wolverine
Originally Posted by Chancey
I wish I understood the Petrodollar system and OPEC better. A friend of mine that worked for Saudi Aramco told me that the US has to import oil from the middle east because nearly all of our refineries here in the US can only refine middle east oil into products, and Not west Texas Brent crude or many other oils found here in the US. Said that if we wanted to refine our own oil, then most of our refineries would have to be totally overhauled. So we have all this oil and natural gas here in Texas and most of it is piped across the state to the Gulf of Mexico and put on a boat for who knows where?

I don't know if this is true or not, but if it is it makes sense why we are so in bed with Saudi Arabia. They promised to sale their oil in only dollars and we promised to buy their oil for most of our refined products. Again, I don't know if this is true, but makes sense to me. Henry Kissinger, an evil genius he was.

Close , but the way I understood the Nixon Kissinger deal was our country would buy all our oil from OPEC , and OPEC would pay 20% of their income from oil to our country's National Debt .

Remember all the shortages during Nixon's time in office?
Gasoline went from 36 cents a gallon in 1972 to 53 cents a gallon in 1974 , and hasn't stopped climing since.
A cup of coffee was 10 cents and went to 40 cents during the shortages .
Toilet paper , sugar, you name it were all in short supply.
Our country also sent products to their world countries , with tax rebates to the manufacturers , that are still head quartered here today.
$ 3.00 Shoes were made for pennies , shipped back here and sold for $20 and up.
And you wonder how these politicians become multi millionares , on their salaries ?



Ohio Wolverine, that would have been right around the same time Nixon took us off the gold standard!


Resident Conspiracy Theorist
Accused Moron, Nazi, Low IQ, and Putin Fan Boy
Re: OPEC gouging us again [Re: Chancey] #7687652
10/08/22 09:13 AM
10/08/22 09:13 AM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Posts: 11,135
Armpit, ak
Originally Posted by Chancey
Originally Posted by Dirt
Import sources Gross imports Petroleum products
Total, all countries 8.47
OPEC countries 0.96 (11%)
Persian Gulf countries 0.69 (8%)
Top five countries1
Canada 4.34 (51%)
Mexico 0.71 (8%)
Russia 0.67 (8%)
Saudi Arabia 0.43 (5%)

2021
The top five sources of U.S. crude oil imports by percentage share of U.S. total crude oil imports in 2021 were:
Canada 62%
Mexico 10%
Saudi Arabia 6%
Russia 3%
Colombia 3%



So what % of oil discovered and produced here in the lower 48 is consumed here? 100%?

25 years ago I was told in college that we were the both the largest producer and the largest consumer. That we consumed 100% of what we produced, and then had to import the largest amount as well due to our wicked and wasteful ways. Later on, I was told that was nonsense, but I never have found an accurate number or where our oil goes.

Like any commodity I guess. Our farmers slave to grow corn and soybeans and they get put on a train to somewhere.......?


People tell you a lot of stuff. Doesn't mean it is true. I told you before to stop asking questions here and do your own research. Try the EIA. The "I" stands for" Information".

[Linked Image]

Last edited by Dirt; 10/08/22 11:49 AM.

Who is John Galt?
Re: OPEC gouging us again [Re: danny clifton] #7687657
10/08/22 09:23 AM
10/08/22 09:23 AM
Joined: Feb 2010
Posts: 19,691
pa
H
hippie Offline
trapper
hippie  Offline
trapper
H

Joined: Feb 2010
Posts: 19,691
pa
Does it matter if we use our oil or trade ours for what we want, as long as price is comparable on the market?

Re: OPEC gouging us again [Re: Chancey] #7687708
10/08/22 11:11 AM
10/08/22 11:11 AM
Joined: Apr 2007
Posts: 5,849
ohio
Ohio Wolverine Online content
trapper
Ohio Wolverine  Online Content
trapper

Joined: Apr 2007
Posts: 5,849
ohio

Originally Posted by Chancey



Ohio Wolverine, that would have been right around the same time Nixon took us off the gold standard!



And then the Great Depression hit. People hoarded gold instead of depositing it in banks, which created an international gold shortage. Countries around the world basically ran out of supply and were forced off the gold standard. The U.S. came off the gold standard for domestic transactions in 1933 and ended international convertibility of the dollar to gold in 1971.


We have met the enemy and the enemy is us!
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