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Originally Posted by WTF
And yes I understood actions vs words. If you did, you'd know that energy companies have been drilling more wells not less since Trump shut down the economy.
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Trump shut down the economy? PLEASE
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Originally Posted by WTF
Significant is relative....it is over 70% of what I have invested. Probably not much to a rich man like you but the position is heavily loaded towards energy.
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Originally Posted by WTF
Please explain what your definition is and how that will keep our oil prices under control here in this country.
The last thread exposed a bunch nativity or flat out arrogance and ignorance.
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You're being much too hard on yourself. Certainly the "nativity," arrogance and ignorance in your posts about energy aren't even on the same scale with some of our friends who believe Russia's invading Ukraine to shut down Hunter Biden's biolabs.
We're roughly self sufficient in terms of oil plus refined products. We're a net importer of crude oil and a net exporter of refined products. Put another way, we import crude oil from places like Mexico, Canada and Venezuela, refine it, and export a lot of it. If we modified our refinery capacity to refine more lighter crude and less heavier, higher sulfur crude, and turned away imported oil, we would be self sufficient, but there's no point in doing that. We're more prosperous when we take advantage of comparative advantage.
We have huge reserves of coal. USA coal production has however been declining around 9% a year, because of competition with low cost, clean-burning natural gas and restrictions put in place by the Obama administration. We export coal, and would be exporting a lot more if not for restrictions by Oregon and Washington on Wyoming coal. The Greenies in the Northwest won't allow Wyoming producers to transport and export coal through their states. Would export of Wyoming coal increase worldwide CO2 commissions? No. Instead Asian markets buy lower calorific, dirtier coal from Russia and Indonesia.
Thanks to the ingenuity of our oil and gas industry, and no thanks to deluded Progressives, we produce more natural gas than any country in the world, and are a major exporter. Thanks largely to natural gas, our emissions of carbon dioxide fell from 6 billion metric tons in 2007 to 4.6 billion metric tons in 2020.
We are not "self sufficient" in solar or wind. We import lots of equipment for solar from China and parts for windmills from various countries. Note that without government mandates and tax subsidies for solar and wind, we wouldn't have much solar or wind capacity.
One of your points appears to be that our self sufficiency in oil + refined products doesn't have any effect on the price of gasoline or our general level of prosperity. I beg to disagree. If the Progressives had their way, U.S. oil production would be a fraction of the current level. The price of oil would be higher, and OPEC and Russia would have more power to set prices. Furthermore, you disregard the prosperity that can accrue to the people in a country that produces lots of oil and gas, if the resource is managed well. Gasoline prices are higher in Norway, a big oil exporter, than most places. But per capita GDP is much higher than the rest of the world, largely because of the oil. You can say the same thing about Qatar, Abu Dhabi and other places. Here in the good old USA, you're benefitting from the dividends you receive from oil and gas midstream and upstream companies.
I believe you're a bit like Captain Midnight, who has said he buys shares when prices are low and socks them away for an eternity. Meaning at such time as the Millenial voters outnumber the rest of us and Progressives gain power, you're going to be stuck with your oil and gas pipeline companies and producers, which will be worth a whole lot less.
Remember, Bernie Sanders, who came reasonably close to winning the 2016 and 2020 elections -- he probably would have beaten Trump if he'd been the Democratic nominee. Bernie would ban fracking immediately. So would Elizabeth Warren. Biden during his campaign said on a couple of occasions that he wanted to ultimately ban fracking, and he would stop issuing new drilling permits and leases on federal lands and the federal offshore. And he wanted to put the USA on a track to "0" net carbon emissions by 2050. Thankfully though the man's not bat shit crazy, so he's abandoned some those positions when faced with reality. He did shut down the Keystone XL pipeline project though.
But the rest of the lot haven't changed. Warren, Sanders et al have just proposed a Windfall Profits Tax. That worked really well the last time, didn't it?
