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Thread: Dems change tune after mocking GOP for ‘drill, baby, drill’

  1. #31
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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by ironhorse View Post
    "If it wasn’t clear before, it should be now. The Saudis have put a bull’s-eye on the U.S. shale industry: Sapient Global Markets’ Chip Register that examines the recent plunge in oil prices and potential responses for the U.S. market to consider.

    Last week the Kingdom cut the selling price for its crude for the second straight month in a row. But unlike the last time, the Saudis only cut their price for oil bound for the U.S. market and nowhere else. Indeed, they actually increased the selling price of its oil to Asia and Europe, much to the relief of fellow OPEC members."


    As Saudis Target Shale Industry, U.S. Considers a Response
    Interesting article, but you know OPEC basket price is the same for everyone.....

  2. #32
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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by TheDemSocialist View Post
    No one is denying we have increased production.... But you are also missing the bigger picture as which was posted in post #3. The increase production is just a small part of the bigger picture..
    Not a small part. a vital part. Before we ourselves had so much of our own oil OPEC just lowered production when demand went down which kept prices up. Now they can't do that and are in fact not cutting production in an attempt to make oil so cheap that our oil won't be profitable.

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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by Sooda View Post
    Interesting article, but you know OPEC basket price is the same for everyone.....
    The basket price is an average price and is not relevant to my comment. OPEC is selling oil to America cheaper than it sells it to other countries because they are trying to destroy our new found oil supplies.

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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by ironhorse View Post
    The basket price is an average price and is not relevant to my comment. OPEC is selling oil to America cheaper than it sells it to other countries because they are trying to destroy our new found oil supplies.
    I have seen NO evidence that Saudi is selling oil cheaper to the US.

    OPEC daily basket price stood at $41.65 a barrel Wednesday, 14 January 2015

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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by ironhorse View Post
    Not a small part. a vital part. Before we ourselves had so much of our own oil OPEC just lowered production when demand went down which kept prices up. Now they can't do that and are in fact not cutting production in an attempt to make oil so cheap that our oil won't be profitable.
    The oil boom in the US has been happening for around 6 years now. It wasnt until recently prices have fallen at this rate. If increased proudction was the vital part we would have felt this impact years ago. It wasnt until the sanctions on Iran, Libya oil reenters the market, weaker deman in Asia the EU, more green energy, and the Saudis decisions did we see this giant decrease in price. Was increased prduction in the US have an effect? Yes. Was it the biggest? In my opinion, no.


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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by TheDemSocialist View Post
    The oil boom in the US has been happening for around 6 years now. It wasnt until recently prices have fallen at this rate. If increased proudction was the vital part we would have felt this impact years ago. It wasnt until the sanctions on Iran, Libya oil reenters the market, weaker deman in Asia the EU, more green energy, and the Saudis decisions did we see this giant decrease in price. Was increased prduction in the US have an effect? Yes. Was it the biggest? In my opinion, no.

    Are you familiar with SUSRIS?

    The fundamentals of the oil price slide: where

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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by Sooda View Post
    I have seen NO evidence that Saudi is selling oil cheaper to the US.

    OPEC daily basket price stood at $41.65 a barrel Wednesday, 14 January 2015
    I gave you the link in post #31

    "Last week the Kingdom cut the selling price for its crude for the second straight month in a row. But unlike the last time, the Saudis only cut their price for oil bound for the U.S. market and nowhere else. Indeed, they actually increased the selling price of its oil to Asia and Europe, much to the relief of fellow OPEC members."

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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by TheDemSocialist View Post
    The oil boom in the US has been happening for around 6 years now. It wasnt until recently prices have fallen at this rate. If increased proudction was the vital part we would have felt this impact years ago. It wasnt until the sanctions on Iran, Libya oil reenters the market, weaker deman in Asia the EU, more green energy, and the Saudis decisions did we see this giant decrease in price. Was increased prduction in the US have an effect? Yes. Was it the biggest? In my opinion, no.
    The US oil boom for 6 years was going on at the same time the China and Asia were increasing demand so the price of oil did not drop because of US oil production but it did not rise as fast or as high as it would have without US oil on the global market. Now that the Chinese and Asian economies have stalled the price of oil is dropping because there is more supply than there is demand and this is because of US oil production. If OPEC still held the reigns they would just lower production to match demand and keep the price of oil high but they are no longer in the drivers seat. "Drill baby drill" worked.

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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by ironhorse View Post
    It's called supply and demand, get it now DNC? Get it now Obama?
    Be sure to watch the video, it's hilarious.


    Back when gas topped $4 a gallon, Republicans chanted "drill, baby, drill" at rallies across the country -- arguing more domestic drilling would increase supplies, reduce dependence on foreign oil and boost the U.S. economy.

    Democrats, almost universally, mocked the GOP plan. In 2012, President Obama called it "a slogan, a gimmick, and a bumper sticker ... not a strategy."

    "They were waving their three-point plans for $2-a-gallon gas," Obama told a laughing audience during an energy speech in Washington. "You remember that? Drill, baby, drill. We were going through all that. And none of it was really going to do anything to solve the problem."

    "'Drill, baby, drill' won't lower gas prices today or tomorrow," Rep. Janice Hahn, D-Calif., echoed on the floor of Congress in 2012. "But it will fuel our addiction to fossil fuel."


    Dems change tune after mocking GOP for
    OPEC is the reason why the gas prices have fallen. Granted, it is as a result of US fracking, but at any time OPEC or US fracking companies will decide to reduce production to cut losses from cheaper oil prices, which will force prices back up. So in an essence, yes, drill baby drill was a good motto, but there is not telling how long gas prices will stay this low. I can't stand any federal energy subsidy or favoring one sector over the other, so naturally I am against this big oil boom in the US. This is because I am almost certain the US is padding the losses of these new American oil producers in order for them to continue production at the same levels to not only help the American people but to hurt Russia.
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    Re: Dems change tune after mocking GOP for ‘drill, baby, drill’

    Quote Originally Posted by iacardsfan View Post
    OPEC is the reason why the gas prices have fallen. Granted, it is as a result of US fracking, but at any time OPEC or US fracking companies will decide to reduce production to cut losses from cheaper oil prices, which will force prices back up. So in an essence, yes, drill baby drill was a good motto, but there is not telling how long gas prices will stay this low. I can't stand any federal energy subsidy or favoring one sector over the other, so naturally I am against this big oil boom in the US. This is because I am almost certain the US is padding the losses of these new American oil producers in order for them to continue production at the same levels to not only help the American people but to hurt Russia.
    Supply and demand will work. As prices get to low for US oil to be profitable those sources will shut down and prices will come back up to a point of even keel. If prices go too high, production will ramp up and prices will come down that is a good thing and how it should work. When OPEC ran things they artificially controlled supply and kept prices artificially high but with America capable of so much production now they cant do so and that too is a good thing. "Drill baby drill" worked.

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