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Biden Solves High Gas Prices

As if the Dimtards couldn't possibly get anymore ruh-tarded..........they say "hold my beer":mad: Haven't these dipshits learned yet that consumers end up paying taxes, not the corporations? How stupid can they get?:mad:

Democrats Target Oil Companies With Plan to Tax Windfall Profits​


finance.yahoo.com

Democrats Target Oil Companies With Plan to Tax Windfall Profits

(Bloomberg) -- Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical tensions.Most Read from BloombergChina Warns U.S. Over Forming Pacific NATO, Backing TaiwanUkraine...
finance.yahoo.com finance.yahoo.com
 
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NavigatorII said:
As if the Dimtards couldn't possibly get anymore ruh-tarded..........they say "hold my beer":mad: Haven't these dipshits learned yet that consumers end up paying taxes, not the corporations? How stupid can they get?:mad:

Democrats Target Oil Companies With Plan to Tax Windfall Profits​


finance.yahoo.com

Democrats Target Oil Companies With Plan to Tax Windfall Profits

(Bloomberg) -- Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical tensions.Most Read from BloombergChina Warns U.S. Over Forming Pacific NATO, Backing TaiwanUkraine...
finance.yahoo.com finance.yahoo.com
Click to expand...
That is just typical DEM. Push issues/policies that cause prices to rise, then tax companies more then they arleady tax them on the increase in revenue.

THey were talking about it on the radio this morning. Think about sales tax. MD collects 7%. So I buy a product for a dollar and pay $1.07. Now, because of inflation, I buy the same product for $1.50 and pay $1.61, so the States are collecting a windfall in increased taxes. Of course the Feds are going to want to get their fair share.

I guess Warren doesn't understand that if oil companies are bring in increased income because of higher prices, they will pay more income tax.
 
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Kingseve1 said:
My electric bill has remained 300 bucks on average just like it’s been the previous 10 years without the EV
Click to expand...
I would like to know your secret. Assuming charging your EV would cause you to use more electricity then you did before, but not paying more. The last 3 months or so, my electricity bill has nearly doubled what it was the past few years, and we are using about the same amount of electricty. Seen a lot of SMECO customers complaining the past few months about larger bills.

How much do you drive? I easily drive about 500 to 600 miles aweek. I would need to fully charge what, 2 to 3 times a week.
 
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BSC911 said:
Just filled up. Regular was 2.69. Premium, which I need of course, was 2.99

For you rubes that were blaming Biden for high gasoline prices, feel free to jump in and give him credit for lowering them.

PS. With crude down 30%, Prices will drop again next week.
Click to expand...

Boy has he solved it....talk about foot in the mouth..... u r a liberal tho so makes sense
 
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BCSpell said:
I would like to know your secret. Assuming charging your EV would cause you to use more electricity then you did before, but not paying more. The last 3 months or so, my electricity bill has nearly doubled what it was the past few years, and we are using about the same amount of electricty. Seen a lot of SMECO customers complaining the past few months about larger bills.

How much do you drive? I easily drive about 500 to 600 miles aweek. I would need to fully charge what, 2 to 3 times a week.
Click to expand...

No secrets. My business partner has one as well, and doesn’t notice anything either. I probably drive 60 miles/day and charge it to 90% full, 2 times a week.
 
😂

68cbfq.jpg
 
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fsu939913 said:
Boy has he solved it....talk about foot in themouth...the mouth... r a liberal tho so makes sense
Click to expand...
Damn, if only I foresaw Russia invading UKraine. That’s obviously Biden’s fault. And then when it’s over and prices return to normal, I’m sure you will give Biden credit.

Trumpers are such hypocrites.
 
BamaFan1137 said:
Stolen from another board...

From a petroleum expert, Tom West, in Houston...

Jen Psaki gives a very misleading statement on oil leases in the March 3rd, 2022 Press Conference:

Press Question: We also know, you know, the President, as recently as yesterday, talked about increasing domestic manufacturing to bring down prices on inflated items like goods. So why not apply the same logic to energy and increase domestic production here?

MS. PSAKI: Well, there are 9,000 approved oil leases that the oil companies are not tapping into currently. So I would ask them that question.

Here is the answer (it is long):

1) There are ~9,000 exploration leases that are held by industry but most of those *don't have any recoverable oil on them. Exploration leases are bought on speculation of a risked possibility of economic oil on them based on sparse data.

There is not oil everywhere beneath the ground. Only about 15% of the exploration leases purchased will end up with oil being found on them, and when you buy them you don't know which ones those are (that is why it is called “exploration”. There is a long process to find out which ones have actual recoverable oil on them.

1) The first thing you do after getting the lease is to acquire more accurate data through acquisition of new seismic data or reprocessing older data. This process takes anywhere from 6 months to a few years. The data is expensive and requires specialized boats and computers to acquire and/or process. You need this more accurate data to help you decide which of the leases you bought actually have a reasonable chance of having oil on them.

2) Once you have this more accurate data the odds of success will either decrease to around 10% on most of the leases or increase to around 25% on a few leases.

You will not drill the ones with a 10% chance of success. You don't do this exercise lightly because deep-water exploration wells cost between $150 to $250 million dollars to drill as they will be generally 4-6 miles deep, drilled with diamond-tipped bits, and continuously lined with concrete and steel for safety. If you just randomly drill wells that expensive in areas with a low chance of success, you will end up going bankrupt and drilling mostly dry holes with no oil on them.

3) Once you decide where to drill, based on a chance of success, generally better than 20%, you have to get a permit to drill, and lease a drilling rig capable of drilling the well. As part of the permit process you have to demonstrate that you can drill safely and environmentally responsibly, and contain any accidents or spills, in order to get the permit. The permit is at the whim of the government regulators and generally takes several months to obtain. The rig availability is also something you have to consider. To get a rig to drill the well, which is specialized equipment in a competitive market, you may have to lease the rig for one to two years and have several drill sites ready to go and permitted. Day rates for deep water rigs are generally in the range of $200,000 to $250,000 per day and a single well will usually take 60 to 200 days to drill safely. So you have a high incentive to drill once a rig is under contract.

4) This entire exploration well process generally takes *between 1 and 7 years, and most leases will be given back to the government un-drilled because the odds of finding economic oil will never get above 20% and so you would lose money by drilling them. But you do not know that when you purchase them. You have to acquire the data, analyze it, risk the well and do complex economic analysis.

So no, it is not true that oil companies are sitting on thousands of leases with lots of oil on them and is just choosing not to tap them. Exploration is a high risk, data, and time-intensive process.

5) Right now all new government lease sales have been cancelled and drilling permits are getting harder to get. There are constant threats to make the regulatory process more onerous and more expensive.

6) The entire time the leases are held, the government is paid for the leases whether the oil companies drill on them or not. There is an initial lease bonus paid and annual rentals which are paid directly to the U.S. treasury. If oil is found and produced the government gets a royalty share of every barrel produced.

7) The *U.S. government is the only entity guaranteed to make money off of leasing and oil production.

For oil companies it is about managing a high risk business and trying to maximize oil production and minimize drilling expensive dry holes (where no oil is found.)

Still the *majority of exploration wells will come up dry because there is only so much you can reduce the unknown elements of nature. Oil companies have been doing this for over 100 years so we have a good understanding of the odds and risks involved.

8.) Currently, there are about 650 active drill rigs, drilling wells in United States, most of them drilling onshore wells. This is an increase of about 250 rigs compared to this time last year. The offshore is where most of the large yet-to-find oil fields are statistically, likely to be, is seeing a decrease of active drilling rigs because of the cancellation of recent lease sales. The U.S. Gulf of Mexico offshore has one of the largest amounts of yet-to-be-found oil anywhere in the world based on statistics but to find it takes a lot of time and money and no new exploration leasing is currently allowed. Once you find an oil field a given field will generally be able to produce oil for 15-50 years.
Click to expand...
BINGO!!!
 
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BCSpell said:
$4.30 here in Charles County, MD today. State is going to suspend state gas tax, which should drop the price $0.30 +.
Click to expand...
You are correct. Gasoline prices are quoted in dollars.

I am sometimes guilty of typing 30 cents. Never .30 cents. .30 cents is just under 1/3 of a penny. My 7-11 currently posts regular at $3.999. Note one decimal. The final 9 is often smaller to denote mils.
 
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BCSpell said:
I would like to know your secret. Assuming charging your EV would cause you to use more electricity then you did before, but not paying more. The last 3 months or so, my electricity bill has nearly doubled what it was the past few years, and we are using about the same amount of electricty. Seen a lot of SMECO customers complaining the past few months about larger bills.

How much do you drive? I easily drive about 500 to 600 miles aweek. I would need to fully charge what, 2 to 3 times a week.
Click to expand...
His secret is being dishonest. It’s what dems do.
 
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BSC911 said:
Damn, if only I foresaw Russia invading UKraine. That’s obviously Biden’s fault. And then when it’s over and prices return to normal, I’m sure you will give Biden credit.

Trumpers are such hypocrites.
Click to expand...
Yea... cuz gas prices were so low before then. Typical libtard demorat, complete idiot, makes excuses. Well,, Trump saw it coming, Biden is a pussssy, Putin is PLUNGING him right now. Straight cleaning his clock. Your boy is weak like you.
 
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fsu939913 said:
Yea... cuz gas prices were so low before then. Typical libtard demorat, complete idiot, makes excuses. Well,, Trump saw it coming, Biden is a pussssy, Putin is PLUNGING him right now. Straight cleaning his clock. Your boy is weak like you.
Click to expand...
Not low, but reasonable. If prices stayed where they were during 2020, there would be no more US oil and gas industry. I’m sure that would make poors like you feel better about filling up your pick up truck, but it would be bad for our energy security long term.

Putin miscalculated and is now paying the price. Biden’s leadership, with swift and secure sanctions, is causing Putin to become desperate. Kind of like FSU hiring Willie.
 
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jfegaly said:
Stopped to top off the Motorhome. Only needed a quarter of a tank. Cost? $125 dollars.

More than BSCuck makes on 2 shifts.
Click to expand...

As a rule, I’m gonna go with NASA and other highly trained experts, over the guy who lives in a motor home and acts like Trump is a good man or anything close to resembling a man of Jesus
 
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BamaFan1137 said:
Stolen from another board...

From a petroleum expert, Tom West, in Houston...

Jen Psaki gives a very misleading statement on oil leases in the March 3rd, 2022 Press Conference:

Press Question: We also know, you know, the President, as recently as yesterday, talked about increasing domestic manufacturing to bring down prices on inflated items like goods. So why not apply the same logic to energy and increase domestic production here?

MS. PSAKI: Well, there are 9,000 approved oil leases that the oil companies are not tapping into currently. So I would ask them that question.

Here is the answer (it is long):

1) There are ~9,000 exploration leases that are held by industry but most of those *don't have any recoverable oil on them. Exploration leases are bought on speculation of a risked possibility of economic oil on them based on sparse data.

There is not oil everywhere beneath the ground. Only about 15% of the exploration leases purchased will end up with oil being found on them, and when you buy them you don't know which ones those are (that is why it is called “exploration”. There is a long process to find out which ones have actual recoverable oil on them.

1) The first thing you do after getting the lease is to acquire more accurate data through acquisition of new seismic data or reprocessing older data. This process takes anywhere from 6 months to a few years. The data is expensive and requires specialized boats and computers to acquire and/or process. You need this more accurate data to help you decide which of the leases you bought actually have a reasonable chance of having oil on them.

2) Once you have this more accurate data the odds of success will either decrease to around 10% on most of the leases or increase to around 25% on a few leases.

You will not drill the ones with a 10% chance of success. You don't do this exercise lightly because deep-water exploration wells cost between $150 to $250 million dollars to drill as they will be generally 4-6 miles deep, drilled with diamond-tipped bits, and continuously lined with concrete and steel for safety. If you just randomly drill wells that expensive in areas with a low chance of success, you will end up going bankrupt and drilling mostly dry holes with no oil on them.

3) Once you decide where to drill, based on a chance of success, generally better than 20%, you have to get a permit to drill, and lease a drilling rig capable of drilling the well. As part of the permit process you have to demonstrate that you can drill safely and environmentally responsibly, and contain any accidents or spills, in order to get the permit. The permit is at the whim of the government regulators and generally takes several months to obtain. The rig availability is also something you have to consider. To get a rig to drill the well, which is specialized equipment in a competitive market, you may have to lease the rig for one to two years and have several drill sites ready to go and permitted. Day rates for deep water rigs are generally in the range of $200,000 to $250,000 per day and a single well will usually take 60 to 200 days to drill safely. So you have a high incentive to drill once a rig is under contract.

4) This entire exploration well process generally takes *between 1 and 7 years, and most leases will be given back to the government un-drilled because the odds of finding economic oil will never get above 20% and so you would lose money by drilling them. But you do not know that when you purchase them. You have to acquire the data, analyze it, risk the well and do complex economic analysis.

So no, it is not true that oil companies are sitting on thousands of leases with lots of oil on them and is just choosing not to tap them. Exploration is a high risk, data, and time-intensive process.

5) Right now all new government lease sales have been cancelled and drilling permits are getting harder to get. There are constant threats to make the regulatory process more onerous and more expensive.

6) The entire time the leases are held, the government is paid for the leases whether the oil companies drill on them or not. There is an initial lease bonus paid and annual rentals which are paid directly to the U.S. treasury. If oil is found and produced the government gets a royalty share of every barrel produced.

7) The *U.S. government is the only entity guaranteed to make money off of leasing and oil production.

For oil companies it is about managing a high risk business and trying to maximize oil production and minimize drilling expensive dry holes (where no oil is found.)

Still the *majority of exploration wells will come up dry because there is only so much you can reduce the unknown elements of nature. Oil companies have been doing this for over 100 years so we have a good understanding of the odds and risks involved.

8.) Currently, there are about 650 active drill rigs, drilling wells in United States, most of them drilling onshore wells. This is an increase of about 250 rigs compared to this time last year. The offshore is where most of the large yet-to-find oil fields are statistically, likely to be, is seeing a decrease of active drilling rigs because of the cancellation of recent lease sales. The U.S. Gulf of Mexico offshore has one of the largest amounts of yet-to-be-found oil anywhere in the world based on statistics but to find it takes a lot of time and money and no new exploration leasing is currently allowed. Once you find an oil field a given field will generally be able to produce oil for 15-50 years.
Click to expand...
EXACTLY...and BSC libby...I do NOT need to run an oil company to know this. It seems you MUST need that, because I knew this ALL a long time ago. THIS is why we laugh at you and other libbys, and makes me circle back to my question...Are you REALLY this oblivious to world events...or are you just protecting your unamerican agenda by lying? It is one or the other.
 
Capt Ron 1 said:
EXACTLY...and BSC libby...I do NOT need to run an oil company to know this. It seems you MUST need that, because I knew this ALL a long time ago. THIS is why we laugh at you and other libbys, and makes me circle back to my question...Are you REALLY this oblivious to world events...or are you just protecting your unamerican agenda by lying? It is one or the other.
Click to expand...
I think you quoted the wrong guy. @BamaFan1137 is not a libtard. He just pays about $7.00 per gallon on his big ass F350. At least every 3-4 days.
 
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Capt Ron 1 said:
LOL...Does it require running an oil company to determine that since the DAY Brandon was elected...fuel prices have risen off of the charts? Remember...I am not a lib, so my brain DOES work!
Click to expand...
It would help you understand what drives oil prices so you don’t sound so stu stupid all the time.

Just saying.
 
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