https://www.nytimes.com/2022/06/05/business/biden-oil-saudi-arabia.html HOUSTON — When President Biden meets Crown Prince Mohammed bin Salman in Saudi Arabia, he will be following in the footsteps of presidents like Jimmy Carter, who flew to Tehran in 1977 to exchange toasts with the shah of Iran on New Year’s Eve.
Like the prince, the shah was an unelected monarch with a tarnished human rights record. But Mr. Carter was obliged to celebrate with him for a cause that was of great concern to people back home: cheaper gasoline and secure oil supplies.
As Mr. Carter and other presidents learned, Mr. Biden has precious few tools to bring down costs at the pump, especially when Russia, one of the world’s largest energy producers, has started an unprovoked war against a smaller neighbor. In Mr. Carter’s time, oil supplies that Western countries needed were threatened by revolutions in the Middle East.
During the 2020 campaign, Mr. Biden pledged to turn Saudi Arabia into a “pariah” for the assassination of a prominent dissident, Jamal Khashoggi. But officials said last week that he planned to visit the kingdom this summer. It was just the latest sign that oil has again regained its centrality in geopolitics.
Just a few years ago, many lawmakers in Washington and oil and gas executives in Texas were patting themselves on the back for an energy boom that had turned the United States into a net exporter of oil and petroleum products and made it more energy independent. With prices rising, that achievement now looks illusory.
Anonymous
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The United States is the world’s biggest oil and natural gas producer, but it accounts for only about 12 percent of the global petroleum supply. The price of oil, the principal cost in gasoline, can still shoot up or tumble depending on events halfway around the world. And no president, no matter how powerful or competent, can do much to control it.
Anonymous
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“Presidents may be the most powerful figure in the American government, but they cannot control the price of oil at the pump,” said Chase Untermeyer, U.S. ambassador to Qatar in the George W. Bush administration. “Even if prices do go down for reasons out of his control, President Biden probably won’t get much credit for it, either.”
Anonymous
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Energy traders have become so convinced that the supply will remain limited that the prices of the U.S. and global oil benchmarks climbed after news broke that Mr. Biden was planning to travel to Saudi Arabia. Oil prices rose to about $120 a barrel on Friday, and the national average price for a gallon of regular gasoline was $4.85 on Sunday, according to AAA, more than 20 cents higher than a week earlier and $1.80 above a year ago.
Anonymous
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But the nuclear talks appear to be mired in disagreements and are not expected to bear fruit soon.
Anonymous
>>1054493 Perhaps he shouldn't of fucked up domestic production. Now he has to get on his knees and beg the Saudis for help. This is who democrats voted for.
Anonymous
>>1054502 How did he fuck up domestic production?
Anonymous
>>1054504 All of his executive orders against oil production.
theonejunkie dontseeitself
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>>1054493 Oil, not opioids is our real addiction.
Anonymous
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>>1054505 You mean the one about not drilling on federal land? I don't think they had started drilling yet.
Anonymous
>>1054493 >has control over drilling permits and leases >has control over building and shutting down domestic pipelines >has control over who the country buys and sells oil to >even has sway over who other countries buy and sell oil to >has no control over oil prices Spare me the Democrat monkey shines
Anonymous
>>1054508 >Biden interferes that much with the private oil industry Where do you get these weird ideas from?
Anonymous
>>1054510 >he gud boi dindu nuffin Anonymous
>>1054512 I like how he's either the most meddlesome president ever or didn't do anything at all. It's never in between those two extremes.
Anonymous
>>1054514 I like how the people who voted for him deny his involvement and claim things are beyond his control when they clearly result from his decisions, whether it's oil or Afghanistan. Democrats just can't accept responsibility.
Anonymous
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>>1054517 You seem to be under the mistaken impression that there was a high bar for winning the last election.
Anonymous
>>1054504 Not a thing, but pretending gives faux news something to scream about
Anonymous
>>1054520 Come now Anon I'm sure he isn't 100% blameless, but I agree he is a convenient scapegoat.
Anonymous
https://www.jwnenergy.com/article/2022/6/6/us-may-never-build-new-refinery-even-with-surging-/ There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp.
“We haven’t had a refinery built in the United States since the 1970s,” chief executive officer Mike Wirth said in an interview on Bloomberg TV. “My personal view is there will never be another new refinery built in the United States.”
Definitely sounds like Executive Orders are stifling these honest businessmen.
Anonymous
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>>1054523 ewww nobody wants that filthy shit in their backyard
Anonymous
>>1054522 I'll concede he does bear *some* blame for shutting down projects, but most of the price increases are either from speculation or companies taking advantage of a situation like this to gouge while using Biden as a scapegoat among the illiterate. Record profits among oil companies tell quite the story...
Anonymous
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>>1054526 >but most of the price increases are either from speculation or companies taking advantage of a situation like this to gouge while using Biden as a scapegoat among the illiterate. In the real world a lot of it is due to extremely low external investment in American oil industry. A lot of their new development costs were offset by investors, generally who purchased stock, and the dividends just aren't there any more, and there is a lot of uncertainty in the industry due to Bidens climate first policies (which I'm not complaining about but he has put it at the forefront of his campaign)
I read a few financial articles about this that analyzed external investment in domestic oil, and it's at like a 20 year low or something causing many of them to raise prices to make up for the lack of external funding
Anonymous
Anonymous
Anonymous
>>1054493 Create a nationalized oil company and take away federal land permits from private companies that the nationalized company then uses and then keep the prices fixed to stop the price gouging, and if it doesn't, arrest the price gougers.
Problem solved.
Anonymous
>>1054659 >government seizes all oil production and refining >cut the supply even more in the name of global warming >oil prices continue to rise exactly as intended
Anonymous
>>1054654 >muh evil corporations argument I'm still waiting for someone to explain to me why corporations, greedy by nature, weren't greedy under Trump from 2016 - 2019 - and let gas prices be cheaper under him than Obama - but now that Biden is in office, a man who has said multiple times he wants to get rid of oil companies, now they're intentionally pulling gas prices up "because they're greedy".
Anonymous
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>>1054526 Every company is posting record profits. It's what happens when the fed prints free money and gives it out like candy to everyone
Anonymous
>>1054691 >Switch to renewable energy and finally dump an outdated industry >Cheaper prices, reduce the power of the middle east and help mitigate the climate crisis Win, win, win
Anonymous
>>1054700 >Switch to renewable energy Name one successful form of renewable energy in the US. California has the largest wind farm in the entire country that costed billions to make, still millions to maintain, and produces less electricity than a shit coal plant in Missouri built in the fucking 70s. How in the name of God are you going to power a major city like Los Angeles using only renewable energy? What renewable energy meets that demand. I'm dying to hear from you.
Anonymous
>>1054702 "Green" energy is just a taxpayer slush fund for feel good talking points. No one is serious about renewables until they start advocating for more nuclear.
Anonymous
>>1054702 >>1054704 Found the oil company shills.
Anonymous
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In 2011 the Obama admin got rid of the EIA-28 requirement with the eia which required disclosure of all foreign investors in domestic energy industry.
Anonymous
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>>1054713 >no answer I accept your concession.
Anonymous
>>1054702 If the oil and gas companies weren't sabotaging the US for decades and causing us to fall behind that much, you'd have more.
Also we're losing billions already to the oil and gas companies and that's just lining their pockets rather than creating a long term solution.
Anonymous
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>>1054493 The people pulling the O'Biden puppet strings want high priced oil.
Anonymous
>>1054728 How are they sabotaging the US? Are they blowing up solar panels? Is there an oil Navy SEAL team taking down the blades on windmills at night? What bullshit excuse do you have to make up now because you can't admit that wind/solar won't meet the power demands of the US?
Anonymous
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>>1054731 take all that and add on that we would still need to process oil for other products from the process.
What is the plan for all now unusable fuel products? I'd like to hear their answer there.
Anonymous
there's a simple solution to all of this, just destroy all cars. no cars no need for oil. you also won't be able to work but hey who cares bidenmerica
Anonymous
Anonymous
>>1054704 Nuclear has a glaring issue with it, that you can't regulate production of energy like you can a coal plant or otherwise (You can't just "burn less fuel" because the reactor requires a precise amount to maintain it's output) and you can't just shut down a nuclear plant on a dime and fire it back up without huge waste. Nuclear plants can be fine for powering the baseline needs of a nation, but is going to result in massive waste by overproducing if you're overly reliant on nuclear energy.
This is in addition to the far higher costs in personnel and safety measures needed to run the plant. The people working it need more training and more vetting than a coal/natural gas plant, there's a ton of overhead that compounds with the fact you can't adjust your output, so you're stuck dumping your energy on the market regardless of the profit you'd make on it.
One positive for solar farms is they take far less in maintenance than a traditional fossil fuel plant (And far, far less than a nuclear plant) and they don't burn any fuel so overproduction doesn't matter. Their downside is their reliability, unlike a plant, you can't ensure a steady production of electricity from solar/wind because it's reliant on solar exposure and weather to produce. So in short, you're always going to need something that burns fossil fuels to provide reliability and scalability, at least until we reach the point where battery technology for electrical storage becomes good enough to store massive amounts for extended periods of time.
Anonymous
>>1055099 Almost everything you said is wrong.
Anonymous
>>1055101 And you are a retard.
Anonymous
>>1055102 I mean you could look it up, but instead you choose to call me the retard?
Interesting choice.
Start by veriying that nuclear power output cannot be regulated. Then go from there.
Anonymous
>>1055105 he's right, you are a retard
Anonymous
Anonymous
>>1055106 my bad, I was referring to
>>1055099 as the retard
Anonymous
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>>1055108 Damn, now I look like the samefag.
Anonymous
>>1055101 Everything he said was pretty accurate, especially the part about storage being a major technology hurdle in renewable energy. Its also weird that out of this entire paragraph "You're wrong" was the best counter argument you could come up with. Poor show, anon.
Anonymous
>>1055111 It literally wasn't.
Anonymous
>>1055114 Then explain what isn't accurate about it.
Anonymous
>>1055115 I don't do that anymore. You figure out what he got wrong.
Anonymous
>>1055105 Just in case you wind up misleading anyone, I will spoonfeed you once:
https://www.eia.gov/todayinenergy/detail.php?id=47196 Also, I literally work at the STP and the talking points I gave are the primary concerns of the place when talking about nuclear vs "green" energy. Nuclear plants are huge upfront investments, they require a massive amount in upkeep, while you can easily scale a solar or wind farm to any degree you want. If the price of electricity tanks, you can't just cut personnel and scale back production because the reactor is basically on or off, you can't adjust the rate of the reaction without lowering efficiency and hurting you even more.
It's also the real reason why Victoria didn't get its own nuclear plant despite there being one down the road in Bay City. A lot of the citizens of the town threw a fit over safety concerns, but the real trouble was the investment just wasn't there. The STP is profitable, but in the case of the private energy market, there's been ups and downs in it despite operation continuing as normal for the past couple of decades.
Anonymous
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>>1055118 >you can't adjust the rate of the reaction without lowering efficiency and hurting you even more. MmmmmHmmmmm
Anonymous
>>1055116 >"You're wrong." >"Okay. Why?" >"You figure it out" Peak retardism
Anonymous
>>1055127 Nah, tired of this shit.
Anonymous
>>1055128 Tired of having to use your brain? Clearly.
Anonymous
>>1055135 Tired of old boomer shit from the cold war being presented as fact.
Anonymous
>>1055136 Could you tell me one thing he said that's wrong? Name just one thing. Surely that won't tax your brain too hard.
Anonymous
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>>1055137 That you can't regulate the output of a nuclear power plant.
That was true in the 80s.
Also "you can just scale solar or wind" despite the issues with land usage. And the fact that all green energy requires massive, expensive upkeep.
Anonymous
>>1054728 >muh big meanie corporate fatcats The same tired alt-left conspiracy theories, very sad! I blame the ass parasites for such hysteria.
Anonymous
>>1055147 This is hilarious coming from a MAGAtard.
Anonymous
>>1055148 >giddiness >name-calling >nothing reaembling human reasoning thats just the ass parasites talking, anon. You need Ivermectin, ironically for its intended purpose
Anonymous
>>1055152 >a MAGAtard is promoting the use of Ivermectin You really can't make this shit up.
Anonymous
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>>1055137 All of it is wrong.
Anonymous
>>1055200 Meanwhile, leftards are taking other horse meds to induce abortions
Anonymous
