Trump should move quickly!

[Uduak + 22]

If something is not done quickly to jack up the price of oil, I'm afraid a lot of it will have to be left in the ground. With technology advancing at it's current pace (Renewables, Elon Musk, Huawei...etc) and the heat in Europe suddenly making people realise there could be some truth in this climate change thing, our industry may be on the verge of becoming redundant. 

Trump has to do what he has to do quickly before the rest of the world cottons on to the fact that they can live without this much oil.

[Rasmus Jorgensen + 1,169]

1 minute ago, Uduak said:

our industry may be on the verge of becoming redundant. 

Not redundant. Just changed. 

[Old-Ruffneck + 1,177]

1 hour ago, Uduak said:

If something is not done quickly to jack up the price of oil, I'm afraid a lot of it will have to be left in the ground. With technology advancing at it's current pace (Renewables, Elon Musk, Huawei...etc) and the heat in Europe suddenly making people realise there could be some truth in this climate change thing, our industry may be on the verge of becoming redundant. 

Trump has to do what he has to do quickly before the rest of the world cottons on to the fact that they can live without this much oil.

Prices will go up, prices will come down. It's almost impossible to predict 30 days out much less 45 if you've been following the market for the last 40+ years. Don't get hysterical!! Renewables in 10 years might be 10% of total energy. 

[Douglas Buckland + 6,308]

And what would you have Trump do?

[Uduak + 22]

1 hour ago, Douglas Buckland said:

And what would you have Trump do?

Start a war, maybe somewhere in the middle East. Some kind of chaos that would choke production and guarantee high oil prices for the rest of us to produce.

[GSXRblur + 18]

3 hours ago, Uduak said:

Start a war, maybe somewhere in the middle East. Some kind of chaos that would choke production and guarantee high oil prices for the rest of us to produce.

Huh?  Not sure if you are serious.  Oil is a commodity and to echo others, it will go up and down.  Petroleum is used in tons of other things so it will not go away in most of our lifetimes.

[ronwagn + 6,290]

5 hours ago, GSXRblur said:

Huh?  Not sure if you are serious.  Oil is a commodity and to echo others, it will go up and down.  Petroleum is used in tons of other things so it will not go away in most of our lifetimes.

Any of our lifetimes IMHO. Natural gas will become the preferred fuel IMHO though. 

[Old-Ruffneck + 1,177]

9 hours ago, Uduak said:

Start a war, maybe somewhere in the middle East. Some kind of chaos that would choke production and guarantee high oil prices for the rest of us to produce.

Did you actually read what you wrote before hitting Reply? That is 100% dead wrong, there is nothing to be gained going to war for the US. We don't need their oil anymore. China India and Japan are now the heavy reliant users. We are there in defense on tanker protection and if enrichment issue isn't resolved soon possible limited strikes. Fanatics inside the Iranian Gov don't need to have a finger on a nuclear trigger.

[Old-Ruffneck + 1,177]

12 minutes ago, ronwagn said:

Any of our lifetimes IMHO. Natural gas will become the preferred fuel IMHO though. 

 

12 minutes ago, ronwagn said:

Any of our lifetimes IMHO. Natural gas will become the preferred fuel IMHO though. 

Liquified NG will gain some foothold here in the US. Did you see taxes here in the Land of Lincoln on NG also took a rise??

[Amerudin Ismail + 1]

That's right. twitter can damage the market. He's just a speculator. There is no good for the world.

[ronwagn + 6,290]

11 minutes ago, Old-Ruffneck said:

 

Liquified NG will gain some foothold here in the US. Did you see taxes here in the Land of Lincoln on NG also took a rise??

No, how are they taxing it? GGE Gasoline gallon equivalent? Illinois is going down a rat hole. It is like California but without all the attractions. My wife and I are working for the New Illinois separation movement which would lop Chicagoland off of the rest of the state. 

Edited July 3, 2019 by ronwagn

[Old-Ruffneck + 1,177]

32 minutes ago, ronwagn said:

My wife and I are working for the New Illinois separation movement which would lop Chicagoland off of the rest of the state. 

Lop off the 3 counties around Chicago and us downstaters and the western side would actually have a voice in our Government.

Illinois' new motor fuel tax is tied to inflation, meaning it will automatically rise in future years without requiring lawmaker approval. The tax is projected to reach 43.5 cents by 2025, a 130% increase from June 2019.

Motor Fuel Tax

From July 1, 2019, through June 30, 2020, the rates are as follows: gasoline/gasohol – $0.38 per gallon diesel fuel – $0.455 per gallon liquefied petroleum gas (LPG) – $0.455 per gallon1 liquefied natural gas (LNG) – $0.455 per gallon2 compressed natural gas (CNG) – $0.38 per gallon3 From July 1, 2017, through June 30, 2019, the rates are as follows: gasoline/gasohol – $0.19 per gallon diesel fuel – $0.215 per gallon liquefied petroleum gas (LPG) – $0.215 per gallon1 liquefied natural gas (LNG) – $0.215 per gallon2 compressed natural gas (CNG) – $0.19 per gallon3

Edited July 4, 2019 by Old-Ruffneck

[James Regan + 1,776]

Trump wants oil as cheap as chips, there is no rhyme to his reason, it will only dawn on him when he has destroyed the USAs tight oil market and let Russia take over the Middle East and by then OPEC will be calling the shots. Trump doesn’t care about the oil industry his knowledge stops at the pump.

But starting a war is not a very cool answer people actually get blown to pieces families destroyed and cities flattened all of this is a little bit more serious than losing your job or perhaps having to find another area to work in.

WAR IS NOT COOL 😎 

Edited July 4, 2019 by James Regan

[Old-Ruffneck + 1,177]

3 minutes ago, James Regan said:

Trump wants oil as cheap as chips, there is no rhyme to his reason, it will only dawn on him when he has destroyed the USAs tight oil market and let Russia take over the Middle East and by then OPEC will be calling the shots. Trump doesn’t care about the oil industry his knowledge stops at the pump.

Yes, Trump likes low prices on finished oil products. Happy consumers when voting will remember he saved them some money. As far as the Tight Oil, well they playing a losing hand for a long time now. You reap what ya sow. Several hundred billion in debt and can't pay the interest. I thinks it's going to get ugly for that sector. The bankruptcies will start soon enough and who pays for that? The investors and hedge fund folks better start to feel the pucker factor. 

[Douglas Buckland + 6,308]

11 hours ago, Uduak said:

Start a war, maybe somewhere in the middle East. Some kind of chaos that would choke production and guarantee high oil prices for the rest of us to produce.

Is this Trump's job? Is Trump the world's policeman? Perhaps others should grow a set of balls and get involved with sorting out long standing global issues.

[Uduak + 22]

5 hours ago, Douglas Buckland said:

Is this Trump's job? Is Trump the world's policeman? Perhaps others should grow a set of balls and get involved with sorting out long standing global issues.

When he tore up the nuclear deal, I thought he had a better plan.

Edited July 4, 2019 by Uduak

[Douglas Buckland + 6,308]

What 'plan' would you liked to have seen?

[James Regan + 1,776]

10 hours ago, Old-Ruffneck said:

Yes, Trump likes low prices on finished oil products. Happy consumers when voting will remember he saved them some money. As far as the Tight Oil, well they playing a losing hand for a long time now. You reap what ya sow. Several hundred billion in debt and can't pay the interest. I thinks it's going to get ugly for that sector. The bankruptcies will start soon enough and who pays for that? The investors and hedge fund folks better start to feel the pucker factor. 

The Tight Oil factor here is being seriously overlooked it’s not a healthy business. You can throw money ar plastic dog turds and they will become valuable.

The monster will show its head at some point a bit like sub prime mortgages and by then it will be too late.

[James Regan + 1,776]

12 hours ago, ronwagn said:

No, how are they taxing it? GGE Gasoline gallon equivalent? Illinois is going down a rat hole. It is like California but without all the attractions. My wife and I are working for the New Illinois separation movement which would lop Chicagoland off of the rest of the state. 

GNV is a perfect stepping stone to EVs and should be promoted, DONT just jump into a technology that isn’t anyway near ready, GNV is perfect for transitional purposes 👌🏻

[Guillaume Albasini + 851]

On 7/3/2019 at 11:52 AM, Uduak said:

If something is not done quickly to jack up the price of oil, I'm afraid a lot of it will have to be left in the ground. With technology advancing at it's current pace (Renewables, Elon Musk, Huawei...etc) and the heat in Europe suddenly making people realise there could be some truth in this climate change thing, our industry may be on the verge of becoming redundant. 

Trump has to do what he has to do quickly before the rest of the world cottons on to the fact that they can live without this much oil.

Starting a war is never a good solution. Think again. A war would mean high oil prices but this could only be a short time relief for US tight oil. High oil prices would just add a very big incentive to the transition to renewables.

[ronwagn + 6,290]

17 hours ago, James Regan said:

GNV is a perfect stepping stone to EVs and should be promoted, DONT just jump into a technology that isn’t anyway near ready, GNV is perfect for transitional purposes 👌🏻

I never heard of GNV. What is it?

[James Regan + 1,776]

7 hours ago, ronwagn said:

I never heard of GNV. What is it?

Gas Natural Veícular - Portuguese version LNG

[BenFranklin'sSpectacles + 762]

On 7/3/2019 at 9:26 AM, Uduak said:

Start a war, maybe somewhere in the middle East. Some kind of chaos that would choke production and guarantee high oil prices for the rest of us to produce.

 

On 7/3/2019 at 6:37 PM, Old-Ruffneck said:

Did you actually read what you wrote before hitting Reply? That is 100% dead wrong, there is nothing to be gained going to war for the US. We don't need their oil anymore. China India and Japan are now the heavy reliant users. We are there in defense on tanker protection and if enrichment issue isn't resolved soon possible limited strikes. Fanatics inside the Iranian Gov don't need to have a finger on a nuclear trigger.

 

14 hours ago, Guillaume Albasini said:

Starting a war is never a good solution. Think again. A war would mean high oil prices but this could only be a short time relief for US tight oil. High oil prices would just add a very big incentive to the transition to renewables.

Conventional warfare is a bad idea, but it seems Trump is pursuing less-severe alternatives: sanctions, tariffs, as much regulatory support as the executive branch can muster, and preventing the feds from increasing interest rates.  My (admittedly naive) impression is that the US is redirecting trade flows s.t. the Western world slowly weans itself off Middle Eastern oil while simultaneously reducing OPEC production one country at a time.  This ruins unfriendly nations (Iran, Venezuela, etc) while keeping oil prices just high enough for the shale debt treadmill to continue. 

What are y'alls' thoughts on this? 

[NickW + 2,714]

On 7/3/2019 at 10:52 AM, Uduak said:

If something is not done quickly to jack up the price of oil, I'm afraid a lot of it will have to be left in the ground. With technology advancing at it's current pace (Renewables, Elon Musk, Huawei...etc) and the heat in Europe suddenly making people realise there could be some truth in this climate change thing, our industry may be on the verge of becoming redundant. 

Trump has to do what he has to do quickly before the rest of the world cottons on to the fact that they can live without this much oil.

Are you trolling?

Aside from the moral aspect of starting a war (people get killed) to raise oil prices this is completely illogical from a perspective of prolonging the oil & Gas  industry as will just push people at a macro and micro level towards alternatives. 

For example, on a personal level  over the next 4 years in the house i have just bought I plan to put in about 4KW of solar PV, a solar water heating system, new boiler, insulate the roof, and buy a second hand Nissan Leaf as our battery. 

That's about 15000 kwh knocked off my households electricity / oil / gas demand. 

If oil prices rocket tomorrow that program of works will just be accelerated forward. 

[ronwagn + 6,290]

16 hours ago, Guillaume Albasini said:

Starting a war is never a good solution. Think again. A war would mean high oil prices but this could only be a short time relief for US tight oil. High oil prices would just add a very big incentive to the transition to renewables.

High oil prices would just hasten the move to natural gas vehicles. The current fleet of vehicles can all be converted. Converting to electric vehicles is not feasible. Natural gas vehicles can also be hybridized to use both gasoline and natural gas or diesel and natural gas for trucks.