OPEC+ warns of response as Biden readies to tap strategic reserve

And another Black Gold skirmish slithers into the fray.

SA is one of our strongest allies in the ME...LOL, sure they are. 

They're a Welfare State funded by Oil.

The  US should increase production instead of dipping into the reserves

Exactly!  This is a fake crisis entirely of Joe Bidens own making.  Use of the reserve should be exclusive to a real emergency.  

You should take your uninformed opinion and tell it to China, Japan, and India who will be doing the same. 

Or you could tell the US producers to increase production, or talk to OPEC and tell them to increase their output to meet demand.

Or you could tell the US producers to increase production

Tell Biden to get out of the way first and we would happily tell US oil producers to increase production. You can start by telling him to rescind his EO on the amount of methane that can be produced while drilling for oil. Second tell him that rail is not the safest way to transport any type of oil; no matter how rich it is making George Soros. Lastly drop his absurd drilling and exploration ban on federal lands- which the courts already did; but good old Joe doesn't listen to the courts.

Just ask the oil companies- they would happily produce more if there was profit in it; and they weren't afraid Biden was going to pull the rug out from under them.

conservativefiringline

or talk to OPEC and tell them to increase their output to meet demand.

They already vehemently told Biden no. Wonder what he did to piss them off? It is not our job to tell OPEC what to do. Biden is supposed to be leader of the free world; but every action he has taken has stifled oil production in the US. Why should the rest of the world pickup the slack for the US? If the US increases oil production so will they.

Tell Biden to get out of the way first and we would happily tell US oil producers to increase production. You can start by telling him to rescind his EO on the amount of methane that can be produced while drilling for oil. Second tell him that rail is not the safest way to transport any type of oil; no matter how rich it is making George Soros. Lastly drop his absurd drilling and exploration ban on federal lands- which the courts already did; but good old Joe doesn't listen to the courts.

I've posted this for you before, if you didn't read it that's on you but stop with the BS replies about it. 

BILLINGS, Mont. — Approvals for companies to drill for oil and gas on U.S. public lands are on pace this year to reach their highest level since George W. Bush was president, underscoring President Joe Biden's reluctance to more forcefully curb petroleum production in the face of industry and Republican resistance. The Interior Department approved about 2,500 permits to drill on public and tribal lands in the first six months of the year, according to an Associated Press analysis of government data. That includes more than 2,100 drilling approvals since Biden took office January 20.

Exploration and production is doing well on tribal lands.

Oil has always moved by rail and will likely continue well into the future. The BS about Keystone is just that, it didn't move any oil, and the expansion of existing pipelines more than makeup for the amount that would have moved through a completed Keystone.

They already vehemently told Biden no. Wonder what he did to piss them off? It is not our job to tell OPEC what to do. Biden is supposed to be leader of the free world; but every action he has taken has stifled oil production in the US. Why should the rest of the world pickup the slack for the US? If the US increases oil production so will they.

Opec wants to keep the price of oil high for obvious reasons. They have not reached their pre-pandemic level of production. The four largest consumers of oil have all stated they will open their reserves or already have. Now OPEC is concerned with the US and others opening their reserves and with a possible slowdown in the world economy (pandemic in Europe)

Take a look at this link and it shows that the number of producing wells in the US as of Nov 21, 2021, vs pre-pandemic and you'll see that we are still far below what they were operating in early 2020. 

statista

I've produced links for all my other comments and it seems that you didn't read them so I won't waste my time producing them again. 

Oil has always moved by rail and will likely continue well into the future. The BS about Keystone is just that, it didn't move any oil, and the expansion of existing pipelines more than makeup for the amount that would have moved through a completed Keystone.

Must be news to the people running Keystone that it didn't move any oil. 

grist

The current Keystone pipeline carries oil from the Alberta tar sands in Canada to refineries in Louisiana and Texas. The Alberta tar sands are known for being particularly bad for the climate — emissions from oil extracted there are about 14 percent worse, on average, than a typical barrel of oil. The proposed expansion of the northern leg, which would run from Alberta to Steel City, Nebraska, would carry an estimated 830,000 barrels of crude oil a day. It’s been a complicated decade since the Keystone XL project was first proposed in 2008 by the Canadian oil company TC Energy. President Obama approved the southern leg of the pipeline in 2012, and it was in use by 2013. But in 2015, after an outpouring of grassroots activism , Obama rejected the northern leg . That decision was reversed by President Trump during his early days in office in 2017. The following year, construction was halted when Montana’s U.S. District Judge Brian Morris ruled that the State Department needed to give further consideration to the pipeline’s potential for environmental damage. Then, last June, Trump dissolved Morris’ injunction by issuing a presidential permit, bypassing the State Department entirely. Today, the northern leg of the pipeline is mostly constructed, with some gaps remaining in Nebraska, but it’s not yet ready to pump oil.

Yes, the rail has been moving tar sands for a very long time- on antiquated tanker cars; check how many derailments of these trains there have been. This is not something that can just be buried and forgotten. Clean up takes specialists and weeks of track closure. I speak from experience of having material on trains that have been stuck behind these derailments. Anyone claiming that rail is a safer means to move this material doesn't know what the hell they are talking about.

Opec wants to keep the price of oil high for obvious reasons. They have not reached their pre-pandemic level of production. The four largest consumers of oil have all stated they will open their reserves or already have. Now OPEC is concerned with the US and others opening their reserves and with a possible slowdown in the world economy (pandemic in Europe) Take a look at this link and it shows that the number of producing wells in the US as of Nov 21, 2021, vs pre-pandemic and you'll see that we are still far below what they were operating in early 2020. 

No really, OPEC and US oil companies want to make money? Who knew? Yes, I knew that they shut down wells due to lack of demand caused by the pandemic. It takes money to reopen those wells to drilling. They just don't flip a switch and walk away. There has to be profit in restarting production. Funny how Biden wants to restrict US oil production; but then begs OPEC and Russia to expand theirs. By the way- OPEC even told Biden to have the US pump their own if he was concerned about the world supply.

forbes

OPEC and its oil-producing partners have  rebuffed President Joe Biden’s calls for increased production   amidst rising fuel prices, retorting that if the United States believes the world’s economy needs more energy, then it has the capability to increase production itself. The OPEC+ alliance, made up of OPEC members led by Saudi Arabia and non-member top producers guided by Russia, approved an increase in production of  400,000 barrels per day  for the month of December.

Why would OPEC increase their production when the US isn't increasing it's production? 

Want to know what makes the US oil companies hesitant to reopen those wells and start new ones- dumb EO's that will require them to invest more money to lower methane emissions.

cnbc

The Environmental Protection Agency on Tuesday will propose rules to plug methane gas leaks at hundreds of thousands of oil and gas wells in the U.S., marking its most aggressive action yet to curb climate-warming greenhouse gas emissions.

The agency’s measures will strengthen regulations on new oil and gas wells and impose new requirements for existing wells that previously escaped methane regulations. President Joe Biden will formally announce the proposals during the second day of the COP26 climate summit in Glasgow, Scotland, according to senior administration officials.

The methane initiatives will aid the president’s commitment to cut domestic emissions in half by 2030 and reach net-zero emissions by mid-century. The proposals will also push forward the U.S. and European Union’s Global Methane Pledge, a pact to cut methane emissions by 30% by the end of the decade.

The EPA’s methane rules, which come in response to the president’s executive order in January , will cover roughly three-quarters of all U.S. methane emissions, according to estimates from White House officials.

The Biden administration is launching a whole-of-government initiative to ratchet up methane reduction commitments from the oil and gas sector, officials said, which includes the release of the U.S. Methane Emissions Reduction Action Plan.

US oil companies aren't going to do anything until they see what the involved costs are from Biden's EO. This isn't stopping Joe from launching and investigation into US companies for price gouging.

Please don't act like Biden wants drilling on federal lands. A US court told Biden he couldn't pause drilling on federal lands.

nytimes

A federal judge in Louisiana has blocked the Biden administration’s suspension of new oil and gas leases on federal lands and waters, in the first major legal roadblock for President Biden ’s quest to cut fossil fuel pollution and conserve public lands.

Judge Terry A. Doughty of the United States District Court for the Western District of Louisiana granted a preliminary injunction Tuesday against the administration, saying that the power to pause offshore oil and gas leases “lies solely with Congress” because it was the legislative branch that originally made federal lands and waters available for leasing.

Judge Doughty also ruled that 13 states that are suing the administration over its temporary halt to new leases “have made a showing that there is a substantial likelihood that President Biden exceeded his powers.”

nbcnews

In a setback for President Joe Biden’s efforts on climate change, a federal judge in Louisiana on Tuesday blocked the administration’s temporary ban on new leases to drill for oil and gas on public lands and ordered that lease sales continue.

The Interior Department said it would “comply with the decision,” signaling that lease sales to drill in Alaska and in the Gulf of Mexico will likely resume — at least for now.

During Biden’s first says in office, his Interior Department paused new leases while reviewing the program to decide whether extracting oil and gas from federal lands and waters should continue in the future, as the president seeks to wean the U.S. off fossil fuels. The Interior Department has held a public forum on the issue and said that an interim report on the future of the program would be coming over the summer.

But Louisiana state Attorney General Jeff Landry and 12 other GOP attorneys general sued in March to block the temporary ban, arguing the administration had circumvented legal requirements for carrying out such a move. On Tuesday, Judge Terry Doughty of the U.S. District Court for the Western District of Louisiana issued a preliminary injunction blocking the administration from enforcing its moratorium.

Doughty said his order applies “nationwide.”

“Millions and possibly billions of dollars are at stake,” Doughty wrote in a 44-page memorandum accompanying the injunction. “Local government funding, jobs for Plaintiff State workers, and funds for the restoration of Louisiana’s Coastline are at stake. Plaintiff States have a reliance interest in the proceeds derived from offshore and on land oil and gas lease sales.”

An Interior Department spokesperson responded to the injunction late Tuesday by saying the administration would keep working on the interim report and the recommendations on how to improve use of public lands and waters to create jobs and “build a just and equitable energy future.”

“We are reviewing the judge’s opinion and will comply with the decision,” the department said, without specifying any plans to appeal the injunction.

So sales are going on in spite of Biden's wishes. He is not doing anything that he isn't forced to.

The  US should increase production instead of dipping into the reserves

Oil production is by private companies, not the US government.  Oil from the US is sold to anyone willing to pay.  Are you proposing the US make a law forcing private companies to produce more oil AND only allow them to sell to the US?

The  US should increase production

If it was only as easy as flipping a switch.

Here is quite an interesting article, opens up a lot of questions as well.

Exxon Mobil launched the sale of its oil and gas properties in Texas as the company executes a reorganization of its portfolio in order to focus on more lucrative assets.

msn

Here's another, seems that many of those good/bad boyz see the light:

Oil and Gas Majors Focus on Renewable Energy, Hydrogen, and Carbon Capture

powermag

Renewable Energy, Hydrogen, and Carbon Capture look good on paper, but come nowhere close to filling the gap

The US had become energy independent before Biden