Dow falls 500 points, Treasury yields jump after strong inflation data: Live updates

Which is not enough to meet demands what policies and actions has Biden taken to increase that supply? Why are imports lower and why do you think that is good? We used to process lots of that oil back for export making a good GDP off doing so.

And EXCLUDING energy and inflation is even HIGHER so what's your point?

 

In what world do you live to believe that the government can force companies to extract more oil?

Has it ever occurred to you that oil companies adjust their production to maintain a high profit margin?

It shows that the country is more independent energy today than when Trump was in power.

So American oil companies are making more profit.

Duh....

Prove it.

 

Quote; “Which is not enough to meet demands”

You are correct, our current domestic crude oil production, (13.2M bpd) isn’t enough to meet demand, AND THE REASON WE IMPORT CRUDE OIL, mainly Canada’s heavy, IS TO MEET DEMAND.

 

So what has Biden dine to increase our drilling and refining?

 

So what has the Biden administration done to support more domestic drilling and refining?

And what had Niden dine to increase oir energy supplies?

What is there current net profit?

See above. Refute it.

 

Biden approved 50% more drilling permits for oil/gas on federal lands in first 3 years than Trump in his first 3 years. We now have historic oil production under Biden.

https://reports.blm.gov/report/AFMSS/81/Approved-APDs-Report-Federal


And my IRA is the best that it's ever been!

 

The Dow is up just over 100 pts today, and as usual, the doom and gloom thread is short lived.

 

down 500 followed by up 100

math says..................

 

Then there will be tomorrow. The Dow has done fine under Biden, hence your silence all the other days it did well.

 

Biden administration oil drilling permits outpace Trump

Data from the Interior Department’s Bureau of Land Management showed it granted 3,377 permits to drill on public land in 2023.

President Joe Biden has approved nearly 50 percent more oil and gas drilling permits for wells on federal land since taking office than former President Donald Trump did in his first three years, according to newly released data from the Interior Department.

https://subscriber.politicopro.com/...il-drilling-permits-outpace-trump-ee-00138376

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... And Biden did it without becoming a dictator.

 

STATISTA…..Oil refinery capacity in the United States, from 1970 to 2022

2019; 18.976 million barrels per day
2020; 18.143 million bpd


Lost of refining capacity under Trump’s watch; 843,000 barrels per day

Question; What Trump has done to prevent said significant loss of refining capacity?

If you don’t know, then let’s play the inheritance game that you often like to play;

On Jan 20, 2021, who inherited a refining capacity loss of 843,000 bpd?

———-

My next question refers to New Mexico’s booming Oil & Gas industry, “FEDERAL LAND”…..Oh really!!!!!…..I’m giving you one hour to inform yourself.

 

$10B/Day in debt spending, under Biden is quite inflationary.

BIDENFLATION: ‘Serious possibility’ that Fed’s next rate move is a hike, warns Larry Summers.

'That’s economist and former U.S. Treasury Secretary Lawrence Summers highlighting the possibility that the Federal Reserve may not only have difficulty delivering previously expected interest-rate cuts, but could have yet to deliver its final rate hike of the current cycle.'

'Summers’ remarks, in an interview Wednesday with Bloomberg Television, came after the March consumer-price index showed a hotter-than-expected inflation reading for both the headline figure and the core rate, which strips out volatile food and energy prices.'

Guess what, Inflation wasn't "Transitory"

'Summers said that while circumstances can change between now and June, the current facts would make a June rate cut seem “a dangerous and egregious error comparable to the errors the Fed was making in the summer of 2021,” when policy makers left rate hikes on hold amid expectations that rising inflationary pressures would prove transitory.'

'Summers was the first — and to my recollection, only — big-name Democrat to warn three years ago that inflation was coming.'

He warned that Bribed Joe and the Dems spending was going to be inflationary within the first 100 days.

 

Yes even the leftist economist are starting to roll their eyes over the fallacious attempts by the Biden camp to literally lie about Bidenflation and how hard it has and still is hitting everyday people. The "oh it's all the greedy oil companies" excuse was laughably easy to pit to rest it's right there in the report.

 

I have all the stats...

I asked you what has Biden done to increase our own domestic drilling and refining? You seem unable to to so.

 

WHY BIDEN’S OIL DRILLING PERMITS SURGE IS NOT WHAT IT SEEMS

Recent claims suggesting that the Biden administration has granted 50 percent more oil and gas drilling permits on federal land compared to the Trump administration have been circulating in the media – and while that data is accurate, it’s a lot more complex. A closer look at the 2023 data reveals that many of the permits approved by the Biden administration were granted on land that was leased during the Trump administration. The Biden administration, on the other hand, has held the absolute minimum lease sales possible.

Viewed in that light, claims of mass permit approval from the Biden administration more accurately describe a time delay in processing the glut of permits pending before the Department of Interior...
https://www.energyindepth.org/why-bidens-oil-drilling-permits-surge-is-not-what-it-seems/

Try again. And what is the net profit the oil companies are making?

 

See above. Try again what has Biden done to increase oil and gas drilling and refining?

Each dollar in your IRA buys about 20% less than it did before Bidenflation.

 

See above. His administration loosened regulations and allowed more permits. And you "20% less" nonsense is completely fabricated.

 

They don't mind inflation, but they also do not want to be held accountable for it.

I wonder who these 36% are that approve of Biden's job on inflation.

 

I don't need to try again.

The exceptional level of oil production is proof that the current policy is working.

 

And you can't pont to anymore thing Biden has done to increase it and keep up with demand and keep the price down.

In fact there is a new thread about raising thencost if the oil drilling leases please explain how that will increase drilling.

 

False and permitthg is down

"The Biden administration, on the other hand, has held the absolute minimum lease sales possible."


and he just increased the cost of the leases as noted in a newspaper thread.

 

You still can't deny that Biden admin approved more drilling permits in first three years than Trump LOL

Biden pissed off a LOT of environmentalists in the process but still can't please right-wingers with their fingers in their ears.

thank you for playing!

 

I refuted it above. You should stop playing and get with the facts.

 

those are facts. Biden approved more drilling permits than Trump. Please show where Trump approved more...

 

Q; What Biden has done to increase refining?

A; Like Trump, nothing!

Note; During Trump’s presidency, refining capacity decreased from 18.986 million bpd to 18.143 million bpd, thus, DOWN nearly 900,000 barrels per day.

Q; What Biden/Congress could do to increase our refining capacity to approx. 20 million bpd?

A; Provide funding for the construction of 4 new refineries.

WAIT! Government spending is inflationary.

__________

Q; What Biden has done to increase drilling?

For your info, from 1984 to 2020, I worked for Phillips Petroleum, Exxon, and HESS/Project Coordinator.

ALL integrated Oil&Gas companies have reduced their 2020 CAPEX soon after the oil market crashed, and ALL have reduced their 2021 CAPEX prior to November 2020, and the main reason why; Uncertainties related to of the Pandemic/Covid, thus, a wait and see approach.

Also, survivors of the oil market crash have accumulated a whole lot of debt in 2020, and they’ve opted to reduce their debt when the price of crude was sufficiently high to do so.

Reference to Biden’s 60 day offshore moratorium; Early 2021, the least of Big Oil concerns.

Conclusion; In 2021, nothing Trump or Biden could have done to increase crude production AT PAR with demand.