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  • US oil production at record levels

    From mINE109@21:1/5 to All on Thu Oct 12 14:39:49 2023
    https://www.nasdaq.com/articles/us-crude-oil-production-hits-a-record-high-eia

    "Oct 12 (Reuters) - U.S. crude oil production climbed to a record 13.2
    million barrels per day, government data showed on Thursday, topping the previous peak set in 2020 before the coronavirus pandemic decimated
    global oil demand.

    Oil output in the U.S. has recovered slowly over the last three years as producers preferred to return cash to shareholders through dividends and buybacks rather than spend on increasing production."

    Thanks, Joe!

    Gasoline is $2.87/gallon at a Round Rock WalMart.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ScottW@21:1/5 to All on Fri Oct 13 10:06:01 2023
    On Thursday, October 12, 2023 at 12:39:52 PM UTC-7, mINE109 wrote:
    https://www.nasdaq.com/articles/us-crude-oil-production-hits-a-record-high-eia

    "Oct 12 (Reuters) - U.S. crude oil production climbed to a record 13.2 million barrels per day, government data showed on Thursday, topping the previous peak set in 2020 before the coronavirus pandemic decimated
    global oil demand.

    Oil output in the U.S. has recovered slowly over the last three years as producers preferred to return cash to shareholders through dividends and buybacks rather than spend on increasing production."

    Thanks, Joe!

    Gasoline is $2.87/gallon at a Round Rock WalMart.

    National average is still 3.64.....add at least a buck fifty for cali.

    The floor for oil is set by futures and Joe has set a very high floor.

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Trevor Wilson@21:1/5 to ScottW on Sat Oct 14 06:39:20 2023
    On 14/10/2023 4:06 am, ScottW wrote:
    On Thursday, October 12, 2023 at 12:39:52 PM UTC-7, mINE109 wrote:
    https://www.nasdaq.com/articles/us-crude-oil-production-hits-a-record-high-eia

    "Oct 12 (Reuters) - U.S. crude oil production climbed to a record 13.2
    million barrels per day, government data showed on Thursday, topping the
    previous peak set in 2020 before the coronavirus pandemic decimated
    global oil demand.

    Oil output in the U.S. has recovered slowly over the last three years as
    producers preferred to return cash to shareholders through dividends and
    buybacks rather than spend on increasing production."

    Thanks, Joe!

    Gasoline is $2.87/gallon at a Round Rock WalMart.

    National average is still 3.64.....add at least a buck fifty for cali.

    The floor for oil is set by futures and Joe has set a very high floor.


    **REALLY? Does POTUS set oil prices in the US? I had, perhaps wrongly,
    assumed that oil companies set fuel prices.


    --
    This email has been checked for viruses by Avast antivirus software. www.avast.com

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From mINE109@21:1/5 to ScottW on Fri Oct 13 15:00:17 2023
    On 10/13/23 12:06 PM, ScottW wrote:
    On Thursday, October 12, 2023 at 12:39:52 PM UTC-7, mINE109 wrote:
    https://www.nasdaq.com/articles/us-crude-oil-production-hits-a-record-high-eia

    "Oct 12 (Reuters) - U.S. crude oil production climbed to a record 13.2
    million barrels per day, government data showed on Thursday, topping the
    previous peak set in 2020 before the coronavirus pandemic decimated
    global oil demand.

    Oil output in the U.S. has recovered slowly over the last three years as
    producers preferred to return cash to shareholders through dividends and
    buybacks rather than spend on increasing production."

    Thanks, Joe!

    Gasoline is $2.87/gallon at a Round Rock WalMart.

    National average is still 3.64.....add at least a buck fifty for cali.

    Is that higher or lower than usual?

    The floor for oil is set by futures and Joe has set a very high floor.

    Joe sets the floor? Isn't that a good thing so that oil companies will
    continue production without fear of a price collapse like 2014?

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From mINE109@21:1/5 to Trevor Wilson on Fri Oct 13 15:02:30 2023
    On 10/13/23 2:39 PM, Trevor Wilson wrote:
    On 14/10/2023 4:06 am, ScottW wrote:
    On Thursday, October 12, 2023 at 12:39:52 PM UTC-7, mINE109 wrote:
    https://www.nasdaq.com/articles/us-crude-oil-production-hits-a-record-high-eia

    "Oct 12 (Reuters) - U.S. crude oil production climbed to a record 13.2
    million barrels per day, government data showed on Thursday, topping the >>> previous peak set in 2020 before the coronavirus pandemic decimated
    global oil demand.

    Oil output in the U.S. has recovered slowly over the last three years as >>> producers preferred to return cash to shareholders through dividends and >>> buybacks rather than spend on increasing production."

    Thanks, Joe!

    Gasoline is $2.87/gallon at a Round Rock WalMart.

    National average is still 3.64.....add at least a buck fifty for cali.

    The floor for oil is set by futures and Joe has set a very high floor.


    **REALLY? Does POTUS set oil prices in the US? I had, perhaps wrongly, assumed that oil companies set fuel prices.

    There's a government guarantee that sets a future price floor. US
    companies are afraid to overproduce for fear of being stuck with an
    inventory of cheap product should prices drop.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Art Sackman@21:1/5 to All on Fri Oct 13 14:32:50 2023
    On Friday, October 13, 2023 at 4:02:33 PM UTC-4, mINE109 wrote:


    US
    companies are afraid to overproduce for fear of being stuck with an inventory of cheap product should prices drop.

    I had that problem back when i was 16 working my first job at McDonald's
    frying fish sandwiched.

    On one Friday night i went from a deficit of 24 tō a surplus of 36. all in about a half hour.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ScottW@21:1/5 to Trevor Wilson on Sat Oct 14 08:03:15 2023
    On Friday, October 13, 2023 at 12:39:24 PM UTC-7, Trevor Wilson wrote:
    On 14/10/2023 4:06 am, ScottW wrote:
    On Thursday, October 12, 2023 at 12:39:52 PM UTC-7, mINE109 wrote:
    https://www.nasdaq.com/articles/us-crude-oil-production-hits-a-record-high-eia

    "Oct 12 (Reuters) - U.S. crude oil production climbed to a record 13.2
    million barrels per day, government data showed on Thursday, topping the >> previous peak set in 2020 before the coronavirus pandemic decimated
    global oil demand.

    Oil output in the U.S. has recovered slowly over the last three years as >> producers preferred to return cash to shareholders through dividends and >> buybacks rather than spend on increasing production."

    Thanks, Joe!

    Gasoline is $2.87/gallon at a Round Rock WalMart.

    National average is still 3.64.....add at least a buck fifty for cali.

    The floor for oil is set by futures and Joe has set a very high floor.

    **REALLY? Does POTUS set oil prices in the US? I had, perhaps wrongly, assumed that oil companies set fuel prices.

    Your statement is just ridiculously naive and so totally ignorant I don't know
    where to begin.
    The best assumption I can recommend for you is this.
    Everything you think you know is wrong. Start over.

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)