The COVID19 SCAMdemic... WW3 Is 2 Days Away - Another Distraction From This Administration's Epic Fails

[zrickety]

When all sensible arguments (if any existed) get used up, it's time to present retarded analogies.

The left has zero sensible arguments. It's all fanatical hyperbole.

 

[npace]

Whatever your stance, we were energy independent under Orange Man, and gas was cheap. Those days are gone thanks to Brandon's policy of undo everything.

He doesn’t understand that the variance in global oil prices proves his point about fixed pricing wrong. Went straight over his head.

 

[MagicMK]

Nope, still wrong. Iran is an OPEC country but still sells lower than the OPEC basket, which is generally considered the OPEC price. I proved you wrong on the set oil price and you continue to keep bringing up other nonsense. I never made an assertion about the XL pipeline, I was pointing out why you’re wrong about the statements you make. You’re saying that the price wouldn’t go down, but basing that off of a bunch of false assumptions. Fix your knowledge of the subject and then try libsplaining it to us.

Again, you have 0 evidence that the XL Pipeline effects world oil prices. That's what my original statement was about... what are you trying to change it to? Again, this is what Jim stated:

Canada has large reserves and can't get it to the US since Brandon stopped the Keystone pipeline.

https://en.m.wikipedia.org/wiki/Oil_reserves_in_Canada

I responded that whether the XL Pipeline exists or not, the US uses Light Sweet Crude, which is not the heavy fracked oil that is meant to be transported from Canada via the XL Pipeline. I've stated whether the XL exists or not, it will have no effect, especially, on US oil prices... which, again, are mostly Light Sweet Crude. You provided me absolutely no evidence that contradicts that original point (even though you keep patting yourself on the back as though you have). Also, OPEC does set international oil prices because it is the biggest player, and an oligopoly, that can turn the spigot on and turn the spigot off in order to hit the market price OPEC desires. As for Iran, it's subject to international sanctions, so none of Iran's oil can be legally sold on international markets (although there are some exceptions for civilian food and medical needs, I believe). Iran sells oil to other countries such as China and North Korea (illegally to North Korea) at a lower price. Why would any country belonging to the UN purchase oil from Iran at market price... so not sure what you're going on about the "OPEC basket." What the hell is the "OPEC basket?" I've never even heard that term used.

I believe Iran sanctions were briefly lifted after the Iran nuclear deal under Obama, which Trump later gutted. Now Iran is back to developing a nuclear weapon, of course, but the sanctions are also back in place and have greatly reduced Iran's permitted oil export sales to as low as 200K barrels a day... down from 2.8 Million barrels a day without sanctions.

A potential revival of the Iran nuclear deal could lift the sanctions that have crippled the country’s oil exports since 2018. The timing of such an agreement is uncertain, as is the nature of potential sanctions relief. But if a deal is reached in the next month, Iran could raise its oil exports in the second half of the year and into 2022. Iran’s return to the market could spoil the party for Organization of the Petroleum Exporting Countries (OPEC) states hoping to reap the benefits of an improving demand environment, but for now the producers’ club seems unconcerned.

Tehran does not disclose its crude export data, but assessments based on shipping and other sources suggest a fall from about 2.8 million barrels per day (bpd) in 2018 to as low as 200,000 bpd. One survey put exports at 600,000 bpd in June.

"Iran will return to its pre-sanctions crude production level as soon as U.S. sanctions on Iran are lifted," Owji said.

And finally... to show you what actual evidence looks like, and not the crap links you keep providing me:

(Bloomberg) --China is gorging Iranian oil even as other nations wait for U.S. President Joe Biden to remove sanctions on the Islamic Republic.

Crude shipments from Iran to the province of Shandong, home to a quarter of China’s refining capacity, have surged so much this month they’re causing congestion at ports and filling up storage tanks, according to traders and analysts.

Chinese imports of Iranian crude will hit 856,000 barrels a day in March, the most in almost two years and up 129% from last month, said Kevin Wright, a Singapore-based analyst with Kpler. His figures take into account oil that’s undergone ship-to-ship transfers in the Middle East or in waters off Singapore, Malaysia and Indonesia to obscure their origin.

Most refiners and traders are reluctant to purchase Iranian crude for fear of repercussions that can include being cut off from the American banking system and having cargoes seized by the U.S. Tehran has used aggressive marketing as it tries to increase export income and boost an economy reeling from the sanctions.

The waiting time for tankers looking to offload in Shandong was estimated at 12 days last week, compared with eight the week before, according to Kpler. Oil inventory levels at ports in the province climbed to a one-year high last month, data from SCI99 showed.

Iranian cargoes are heavily discounted due to the sanctions putting off most buyers around the world. In China, their price is usually between $3 and $5 barrel below benchmark Brent crude, according to traders, who say it’s prompting local companies to stock up as global prices rise.

 

[npace]

Again, you have 0 evidence that the XL Pipeline effects world oil prices. That's what my original statement was about... what are you trying to change it to? Again, this is what Jim stated:


I responded that whether the XL Pipeline exists or not, the US uses Light Sweet Crude, which is not the heavy fracked oil that is meant to be transported from Canada via the XL Pipeline. I've stated whether the XL exists or not, it will have no effect, especially, on US oil prices... which, again, are mostly Light Sweet Crude. You provided me absolutely no evidence that contradicts that original point (even though you keep patting yourself on the back as though you have). Also, OPEC does set international oil prices because it is the biggest player, and an oligopoly, that can turn the spigot on and turn the spigot off in order to hit the market price OPEC desires. As for Iran, it's subject to international sanctions, so none of Iran's oil can be legally sold on international markets (although there are some exceptions for civilian food and medical needs, I believe). Iran sells oil to other countries such as China and North Korea (illegally to North Korea) at a lower price. Why would any country belonging to the UN purchase oil from Iran at market price... so not sure what you're going on about the "OPEC basket." What the hell is the "OPEC basket?" I've never even heard that term used.

I believe Iran sanctions were briefly lifted after the Iran nuclear deal under Obama, which Trump later gutted. Now Iran is back to developing a nuclear weapon, of course, but the sanctions are also back in place and have greatly reduced Iran's permitted oil export sales to as low as 200K barrels a day... down from 2.8 Million barrels a day without sanctions.





And finally... to show you what actual evidence looks like, and not the crap links you keep providing me:

If you look at the pricing I provided, Iran sells oil at those prices to NW Europe. The US produces light sweet crude, but most of its imports are heavy crude varieties. I never said anything about price effects of the XL pipeline. I proved your original arguments about what the US buys and prices being fixed wrong. A Bloomberg article about Chinese oil consumption is not more comprehensive than current global prices which obviously vary and are not fixed. I know it’s hard for you because you would have to read and analyze the data, instead of having an article that does it for you. OPEC influences prices, but it doesn’t set them. You can keep repeating it, but it’s not true.

 

[jimlloyd40]

Whatever your stance, we were energy independent under Orange Man, and gas was cheap. Those days are gone thanks to Brandon's policy of undo everything.

In fairness we don't know how the pandemic would have played out under Trump with regards to gas prices, containers sitting off Los Angeles, inflation etc. I feel confident it would have been better.

 

[npace]

You do realize that the heave crude that Canada would have transported via the XL pipeline a) would do nothing to change internationally set oil prices and b) is not even used in the United States. The US uses "Light Sweet Crude." The stuff that comes from Canada is a heavier crude that would be shipped to international markets. All one has to do is look at the disaster caused by the BP Oil spill that the southern coastal states and marine life are still dealing with to this day to understand the concerns on the XL pipeline and it traversing some environmentally sensitive areas in the United States.

To recap: you claimed that there were internationally set prices. The variance of oil prices shows that isn’t true. You also stated that the US “uses” light sweet crude, and I showed how it actually uses several types of oil. I went with source documentation rather than a Bloomberg article because it’s more reliable and harder to interpret incorrectly. It isn’t garbage. As far as the Keystone pipeline itself goes, did they teach you in business school that cheaper delivery and supply increase lower product value? That’s what the pipeline does. It may not reduce prices globally, but it would reduce the cost of Canadian oil delivery.

 

[jay745]

Whatever your stance, we were energy independent under Orange Man, and gas was cheap. Those days are gone thanks to Brandon's policy of undo everything.

Lol what? When was gas cheap with agent orange in office?

 

[npace]

Lol what? When was gas cheap with agent orange in office?

In August 2020 the average price of gas in the US was $2.27 a gallon. In August 2021 it was $3.27. Cheap is relative, but it certainly cost less under Trump than it does currently under Biden

 

[MagicMK]

Whatever your stance, we were energy independent under Orange Man, and gas was cheap. Those days are gone thanks to Brandon's policy of undo everything.

We were definitely not energy independent. While it is true that we were exporting about as much crude oil as we were producing at some points, that had little to do with Trump. The policies that allowed fracking, which is where much of our newfound oil comes, was done through all 8 years of the Obama/Biden presidency.

Honestly, and objectively, Trump was mostly a net zero for oil production in the USA. He didn't hurt or help oil production, in my opinion. Yes, he loved to sell off any federal land lease he could that would somehow benefit him politically, or benefit his campaign, financially, but, again, what did he do one way or the other that made oil production better or worse? The reality is that he was president during the pandemic, starting in early 2020, which devastated America, and American businesses. The devastation to American business is what drove down oil prices. Actually higher oil prices BENEFIT US development, since it is not profitable for most US frackers or offshore drillers to drill for oil unless the price per barrel is at least something over $40 - $50 I believe. A lot of these expensive operations have a high break-even point... which given today's high prices will actually BENEFIT US oil producers.

 

[MagicMK]

In August 2020 the average price of gas in the US was $2.27 a gallon. In August 2021 it was $3.27. Cheap is relative, but it certainly cost less under Trump than it does currently under Biden

Talk about apples and oranges. In August 2020, the world was firmly in the grip of the worst pandemic in recent history. COVID drove down international oil prices, shut down businesses across the world, and lead to the supply chain problems we now see in late 2021. Vaccines and PPE have allowed the world to get back to somewhat normal, and therefore the pent up demand surged in early 2021 after the approval of the mRNA vaccines as well as the vaccines from China and the UK.

Trump is and was a moron. Over half a million US citizens died in 2020, alone, under his leadership - due to COVID. If you want to "credit" his poor leadership that lead to the US economy shutting down due to massive COVID outbreaks, then I guess you can also "credit" him with low gas prices. That's a hell of a way to get lower gas prices, though...

 

[npace]

Talk about apples and oranges. In August 2020, the world was firmly in the grip of the worst pandemic in recent history. COVID drove down international oil prices, shut down businesses across the world, and lead to the supply chain problems we now see in late 2021. Vaccines and PPE have allowed the world to get back to somewhat normal, and therefore the pent up demand surged in early 2021 after the approval of the mRNA vaccines as well as the vaccines from China and the UK.

Trump is and was a moron. Over half a million US citizens died in 2020, alone, under his leadership - due to COVID. If you want to "credit" his poor leadership that lead to the US economy shutting down due to massive COVID outbreaks, then I guess you can also "credit" him with low gas prices. That's a hell of a way to get lower gas prices, though...

So you agree that gas was cheaper? We can go back to August of 2019, when it was $2.70 a gallon. Was that because of COVID?

 

[MagicMK]

So you agree that gas was cheaper? We can go back to August of 2019, when it was $2.70 a gallon. Was that because of COVID?

Sure, it was lower, but to be fair, a hell of a lot of stuff was cheaper prior to 2021. Also, to be fair, gas prices were fairly low under Obama's 8 years in office, as well.

 

[npace]

Sure, it was lower, but to be fair, a hell of a lot of stuff was cheaper prior to 2021. Also, to be fair, gas prices were fairly low under Obama's 8 years in office, as well.

 

[anotero]

Literal Jim I know. But it's the same garbage coming out, Magick is just more full of himself and slightly dumber

Dumber than gretafan? That's an accomplishment right there.

 

[anotero]

Talk about apples and oranges. In August 2020, the world was firmly in the grip of the worst pandemic in recent history. COVID drove down international oil prices, shut down businesses across the world, and lead to the supply chain problems we now see in late 2021. Vaccines and PPE have allowed the world to get back to somewhat normal, and therefore the pent up demand surged in early 2021 after the approval of the mRNA vaccines as well as the vaccines from China and the UK.

Trump is and was a moron. 120 million US citizens died in 2020, alone, under his leadership - due to COVID. If you want to "credit" his poor leadership that lead to the US economy shutting down due to massive COVID outbreaks, then I guess you can also "credit" him with low gas prices. That's a hell of a way to get lower gas prices, though...

Ftfy.