XL Fleet Corp
$-0.07 (-5.79%) Today
52 Week High
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7 Days Mentions
Yeah I know it's not much but this is what all in looks like for me. Why XL you ask? I am in ape mode me no understand. Maybe EV incentives coming up? Maybe massively shorted and maybe I just like the stock. I will keep you all updated these are my December YOLO calls!
DD why I am going all in on XL Fleet. XL has been one of the hardest hit and shorted stocks down from 35.00 highs all the way to 5.41 lows. Now sitting in the 8 dollar range and with EV's getting hot again and lots of catalysts coming up including the possible EV incentive. Dont forget the 20% short
Well, this is a surreal post to write but I know that at the least it will be funny, so -- First, background: The FDA limits the size of silicone implants that can be made (though **not** placed) in the US to a measly 800cc and Europe isn't much better. It's been this way for a long time. What those of us in the XL Breast Augmentation community have historically done is reached out to Eurosilicone to have custom-sized silicone implants made, which we can then pick up in facilities in places like Mexico or wherever, take them to our surgeon of choice who specialises in sizes that large, and have them implanted. It's worked out fine for a pretty long time. The issue is this: Now, though, some (German, I think?) company has its claws in GC Aesthetics (the company that holds Eurosilicone), and is refusing to make even one-off implants of XL sizes. I reached out to the Chief Commercial Officer of GC Aesthetics in Florida over e-mail and eventually over the phone to push for an allowance for an extenuating medical exception as supported by law (I forget the terminology for this, I'm sorry, but I'm sure you know what I mean), but that didn't bear any fruit, either. Right now, there's a decent chunk of us (I can't say there's a lot of us because we're a minority) who are stuck using custom-made tissue expanders overfilled with saline, but expanders aren't really meant for long-term use like this; they were initially developed for mastectomy patients who wanted to get more traditionally-sized implants but lacked skin to cover them -- they work by routing a domed fill port to just under the skin which can be injected with saline to expand the implant size over time, thus stretching the skin and making room for the final implant. At our sizes, though, this starts to be problematic; right now the largest implant shell we have access to as a base size is 2500cc, but we're finding that as we push into larger ranges, the amount of pressure that that much volume applies is causing device failure at the port on a very frequent basis, and I really do mean *very* frequent -- one of the surgeons who works with us noted to me about six or seven months ago that almost all of his surgeries now are port repairs. So.... If you *do* decide to get involved with Sientra or other implant manufacturers, if there is any way you can leverage that involvement to try and provide an in-road for medical exceptions for those of us who are pushing for larger sizes, well... I can't promise you it'd be a financial wellspring or anything, but you'd be helping a lot of us out in a way that apparently right now nobody else can. The companies aren't budging and we're stuck with expanders that have a really significantly high rate of device failure because of how they're constructed - we're using temporary medical devices permanently, and it sucks. If you have more in-depth interest in the cause of the device failure, I can do a materials breakdown of how the devices are constructed; I have photos and videos and my own failed ports I can go over with you, but that's a bit past the scope of an unsolicited reddit comment. So, from myself and the other women in the bimbofication community (which has blown tf up on Insta over the past few years while you've been indisposed, trust), 🥺🙏🏼
I was really trying to answer the statement that 72,000 per truck was unrealistic but they are already selling at 66,000 per truck across the entire line including the $25,000 XL’s. So once you throw in the 7K tax credit averaging 72K per truck is not unrealistic. Whether or not their business model is sound will depend on what the true price per unit is once it enters full scale production.
Let’s not forget the Keystone Pipeline exists and is operational and has been for a decade! Biden cancelled the permit for constructing the Keystone XL, which as entirely different pipeline. It astounds me how people don’t get this and just parrot complete nonsense from right wing pundits.
Biden cancelled the permit for the Keystone XL, he didn’t “end the keystone pipeline”. Keystone XL was years away from even beginning construction, tell me how that affects oil prices today? The original Keystone pipeline still exists and has been in operation since 2010.
The Keystone XL pipeline, a privately funded project, would double the current capacity of oil transported in the U.S. per day, provide the U.S. with a more stable source of crude oil, and significantly increase employment and capital within America.
The US is paying for its own stupidity for stopping the XL pipeline and not renewing/creating new drill licenses and for not exploring nuclear energy. We should be completely energy independent and have the cheapest energy in the world.
No. The US is paying for its own stupidity for stopping the XL pipeline and not renewing/creating new drill licenses and for not exploring nuclear energy. We should be completely energy independent and have the cheapest energy in the world.
When they canceled the XL pipeline I was under the impression that it was a bad thing for many in the US. Here is what I thought tell me if I'm right. The pipeline was under construction. They canceled the permits, construction ceased. Also the payments that they were making to the native americans that owned that property. No they have a half finished pipeline on their land and no rent. The media told us that this was disturbing sacred land. But the land owners leased the land voluntarily. They were paid generously. Canada is mad at us because we aren't buying the gas that would be carried through the pipe line. We closed a nuclear power plant in NYS(Indian point). That plant is still there with nuclear fuel onsite. Can't be moved for a very long time. It's still a "hazard" except it doesn't produce any energy. Same "hazard" while running or not. No we in NYS buy a majority of our electricity from the Niagara power authority in Canada. Canada is angry about the XL pipeline. My electricity cost have more then doubled since Indian Point closed. Sounds like a great way to manage the grid and national energy supply. Everyone is upset except the Dems who don't live near the power plant or pipeline. But the people that do live in those areas miss this infrastructure. But they are trying to protect us. They know better
I mean sure - building XL would have reduced costs for the future. You can’t really use that to claim that not building it increased costs today. OP was talking about a step function that has increased costs under Biden. It’s a lot harder to claim that “continuing to use trains to transport the material is increasing our costs”
You really just huff bullshit and regurgitate it onto this post. You literally copy word for word fox business talking points. There are so many misconstrued lies in your post. The first lie, whether through ignorance or incompetence, is >January 20, 2021 : Biden’s first actions was to revoke approval for the Keystone XL, and impose a moratorium on oil and gas leasing federal lands and waters . Roughly 25% of U.S. production comes from federal areas. Regulation & you've just eliminated 25% of the U.S supply. Does anyone know how supply and demand works? Did he stop there? Of course not! U.S. Field Production of Crude Oil (Thousand Barrels per Day) [https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m](https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m) Lets have a look at production numbers. Here are the numbers from Jan 2020 - Apr 2020 |Jan '20|Feb '20|Mar '20|Apr '20| |:-|:-|:-|:-| |12,785|12,826|12,816|11,911| Here are the numbers from May 2020 - Dec 2020 |May '20|Jun '20|Jul '20|Aug '20|Sep '20|Oct '20|Nov '20|Dec '20| |:-|:-|:-|:-|:-|:-|:-|:-| |9,711|10,420|10,956|10,558|10,868|10,413|11,121|11,084| Notice something funny about the numbers? They decreased from a high of 12.8k to 9.7k, which coincidently is about 24% decrease from ATH. BUT DONT GET CONFUSED. This is when covid was happening. There was nothing we could have done to stop this, we had Trump as president, there was no warning about Wuhan going into lockdown on January 23rd, 2020. So, obviously global pandemic affected production throughout 2020. Now lets take the numbers from 2021. |Jan '21|Feb '21|Mar '21|Apr '21|May '21|Jun '21| |:-|:-|:-|:-|:-|:-| |11,056|9,773|11,160|11,230|11,334|11,288| Notice there was a decrease in production for the month of February, but its only 12%, and immediately bounces above Jan's production. Curious, I FUCKING WONDER WHAT HAPPENED IN FEB 2021. [https://www.cnbc.com/2021/02/19/oil-prices-us-refineries.html](https://www.cnbc.com/2021/02/19/oil-prices-us-refineries.html) >Unusually cold weather in Texas and the Plains states curtailed up to 4 million barrels per day (bpd) of crude oil production and 21 billion cubic feet of natural gas, according to analysts. Texas refiners halted about a fifth of the nation’s oil processing amid power outages and severe cold. Shake your head a bit to get that fluid between your ears moving. There was a case of gross mismanagement by the government of **Texas** and their power grid was hurted by a bit of ice. Here is the second half of 2021. |Jul '21 |Aug '21|Sep '21|Oct '21|Nov '21|Dec '21| |:-|:-|:-|:-|:-|:-| |11,330|11,206|10,851|11,526|11,769|11,604| Here is 2022 for you because I'm sure you kept reading. Only published till March 2022. |Jan '22|Feb '22|Mar '22| |:-|:-|:-| |11,369|11,306|11,655| So, at no fucking point did production of crude in this country decrease by 25%, except under Trump. It would appear you misunderstood, or maybe were mislead by that Fox article to think that all of a sudden production fell by 25%. The moratorium on oil and gas leasing federal lands and waters was for NEW LEASES. Those already permitted were fine. [https://www.npr.org/2021/06/15/1006948814/bidens-ban-on-new-oil-and-gas-leases-is-blocked-by-a-federal-judge](https://www.npr.org/2021/06/15/1006948814/bidens-ban-on-new-oil-and-gas-leases-is-blocked-by-a-federal-judge) >The Biden administration's suspension of **new** oil and gas leases on federal land and water ANDDDDDDD guess what happened two fucking months ago dipshit. [https://biologicaldiversity.org/w/news/press-releases/biden-administration-to-restart-oil-gas-leasing-on-public-lands-2022-04-15/](https://biologicaldiversity.org/w/news/press-releases/biden-administration-to-restart-oil-gas-leasing-on-public-lands-2022-04-15/) >WASHINGTON— The Bureau of Land Management announced today that it will resume oil and gas leasing on public lands, violating President Biden’s campaign promise to end new oil and gas leasing and locking in new extraction Hmm already resuming new leasing okay. Crisis averted. >Despite its pause on new oil and gas leasing and drilling on publicly owned lands and waters, the Biden administration approved more drilling permits in 2021 than President Trump did in the first year of his presidency, [https://www.cnbc.com/2022/04/15/biden-administration-to-resume-leasing-for-oil-and-gas-drilling-on-federal-lands.html](https://www.cnbc.com/2022/04/15/biden-administration-to-resume-leasing-for-oil-and-gas-drilling-on-federal-lands.html) >The Biden administration said it will resume selling leases to drill for oil and gas on federal lands starting next week > > > >The Interior Department on Friday said the new leasing would come with a royalty rate of 18.75 percent, up from the previous 12.5 rate that critics complained was far lower than what energy companies pay to drill on most state lands. Look at the amount of shit I had to type just to show that there wasn't a 25% in crude production due to some fking moratorium on new oil and gas leasing. I guarantee, I could go through every single point in your post to explain it to you, but I have a feeling it won't matter. This concludes my ted talk about why this post is shit. TL;DR: We are fuk. Puts on America, Puts on China, Calls on Robot Aliens.
Do you see where you said that it was nothing to do with the price of a barrel of oil, but then went on to quote a couple of things that were about the supply of oil into the market, and therefore the only impact that those things could have is… on the price of a barrel of oil? It’s a little disjointed right? Paraphrasing, you said the price of gas has nothing to do with the price of oil, so forget about the price of oil - it’s something else. And then you said “look at these things Biden did that made the price of a barrel of oil go up”. Doesn’t make sense, does it? Keystone XL just brings crude in from Canada to the refineries in the US. It doesn’t increase the amount of oil from those locations, nor does it particularly matter. The oil still gets here - it just moves by train like it always has. And it’s not domestic oil anyway. It’s Canadian I don’t think it’s what most people think of as greed that’s caused it. It’s not the oil companies just deciding to make a ton more profit for giggles. Although I’m sure that parts nice. I think they’re resisting a hostile government with all the go slows and bottlenecks they can. Because Biden said he wanted them gone, so they want to punish him and stop someone like him being re-elected. If he’d have come in and “played nice”, we’d have cheaper gas - not $2 a gallon, but more in line with the cost of crude
US domestic crude production is closing in on a all time high, all the oil from Canada is being shipped here via trains and trucks, XL was never operational and if it was you could MAYBE claim it could have reduced gas prices .05/gal and that is a huge MAYBE as it is only incremental reduction based on shipping vs trains and trucks. Alaskan crude production is down 200k bbl/day from 2010, down 67k bbl/day from the month Trump took office, down a whole 23k bbl/day since the last month Trump was in office. We use about 20mm bbl/day in the US. You do the math on how significant 70k bbl/day is or 23k bbl/day. But sure, just blame Biden, that is the easy way out, but holds no water. Global oil prices are high and US refiners are running at capacity, Trump didn't build more refineries either.
Keystone XL was to replace the reduced amount of oil coming from Venezuela, and the same oil makes it to the refineries except by ship instead of pipeline which increases the environmental impact and the cost at the same time. So really stupid to can it. You still don't seem to understand the concept of a global market. It doesn't matter if it's being exported, it's still filling gaps in global supply which brings the price down for everyone. It doesn't even matter that it's more expensive to refine because the margins are HUGE right now. How is that not computing with you?? Yes, Trump made moves to stop the entire industry crashing during the pandemic by getting OPEC to reduce production of the item where there was nowhere to store it. Why do you not understand this? What's so difficult about it? Why have you just doubled down on your original point despite being shown up on it? Do you need your head looking at? Again, maybe you have a short term memory but Trump left office mid-pandemic, long before demand returned. Until now Biden has SHUNNED Saudi Arabia and is only just about to do a U-turn now things have gotten so bad. He should have been working with them to increase output over 6 months ago but did he? No. It doesn't take two bloody years for oil to make it out of the ground and into your car if the wells are already operational, it only takes a number of weeks. Yes, there are thousands of unused permits, so what has Biden done to increase their utilisation except sit on his hands? Has he told these companies they have to use it or lose it so they can't just bank them for the future? No. Why not? You are literally defending those in control now, who have been for a whole year and a half, saying that somehow none of this is their fault and somehow think that the domestic market for oil is simultaneously connected and disconnected from the wider global market. You're doing backflips with basic logic - I think you're the one who's economically illiterate.
>So what has the Biden administration done to help increase the supply of energy? Nothing. So you say this & then ignore the fact that Biden signed more drilling permits than Trump? lmao & then you regurgitate the ol' Keystone XL bs. That was Canadian Tarsands (the most expensive to refine) marked nearly entirely for refining & export -not domestic use- because of its high price. You acknowledge Trump threatened OPEC to reduce production & then blame the lower production on Biden despite him signing more drilling permits than Trump as oil companies sit on 9000 unused permits. Your economic illiteracy proves you belong in this sub.
Canceling the Keystone XL pipeline linking Canadian oil producing areas with refineries in the Midwestern and Southern United States. Restricting drilling in parts of the Arctic Ocean, Bering Sea, and continental federal lands, especially in the Western U.S. Placing a moratorium on new oil and gas leases on federal lands. Rescinding energy production leases in the Arctic National Wildlife Refuge. Plans to close nearly half of the National Petroleum Reserve in Alaska. Stringent new regulations on methane emissions from domestic U.S. oil and gas production. Classifying residual water wastes from oil and gas drilling as toxic. Considering hiking royalties paid to the federal government by fossil-fuel companies producing oil and natural gas on federal lands.
Huh? Keystone XL wasn't even operational. It was cancelled. The issue is refineries my dude. 1/3 of chinese capacity isn't working due to lockdowns. And the whole world supply chains run through China. And US lost like 20% of capacity during covid. Some ironically due to hurricanes. Yes. Hurricanes.
This is dishonest as hell. Hear this now people, anyone who actually understands economics will confirm that gas prices cannot possibly drive inflation. That is impossible. What drives inflation is printing money, which our current administration has [recklessly indulged in.](https://techstartups.com/2021/12/18/80-us-dollars-existence-printed-january-2020-october-2021/). Not to mention that this administration has not at all prioritized our domestic oil supply, striking down the keystone XL pipeline. Don’t let her blame this on Putin or Russia. This is a bed of their own making and they’ll do anything to skirt blame while we suffer the consequences of their actions.
Nope! There will never be another refinery built in the USA ever after what Biden did to keystone XL. Lefties are so dumb...if making a refinery was possible, a different company would do it and take in all that free money... Lefties really believe all oil executives are greedy except the ones who don’t want free money. Best part about lefties is that they are hell bent on making me rich and staying poor.
I’m bagholding some XL stock. Cost basis around $10ish per share. They had the CEO on Mad Money with Jimmy Cramer. I thought it sounded legit. It ran up to $12 then I think $20, now all the way down to $1.25. Thanks Jimmy C! I bought many more shares at $1.30, so I’m hopeful it will regain in 3-5 years.
It essentially just allowed Canadian oil to more cheaply reach the gulf ports where its easier to sell. Currently what would have been in the XL pipeline is being trained to a pacific coast port. No new oil therefore no lower prices. Just less profit for oil execs.
Keystone pipeline is up and running. Keystone XL was stopped. XL wouldn't have been operational for 10 years. It was going to be used to transport tar sands oil which is very dirty and would not be refined into gas for your car. Check your facts. Too many people think the shuttered XL project is the reason for high gas prices.
Anything that people will -need-. food, infrastructure, raw materials, real services I dont have high hopes for electric semi trucks so emerging companies like $HYLN will definitely be able to offset the deisel usage. same thing with XL fleet (not fully electric for fleet trucks, but will be part of the green initiative.) I stay away from any company that doesn't make a real product or service, (no facebook, no ad networks or "tech" that relies on adds and not a real product.) I also stay away from the old guards , no IBM, Oracle, MS, or American Airlines, ford/chevy, Apple etc. They dont follow the rest of the market and will always be around. I'm also watching gold/silver, copper, cadmium, silicon any of the materials to build this "green deal". I'll add Miso robotics, they make robots that will take real jobs for much less $, same with self driving trucks. TINFA
"On the campaign trail, Biden vowed to cancel the Keystone XL cross-border permit should he win the presidency—and on his first day in office, he made good on that promise. The revoked permit became the final nail in the pipeline’s coffin." according to https://www.nrdc.org/stories/what-keystone-pipeline#biden
Keystone XL was shipping crude from Canada to Houston refineries to be refined and then distributed. Everything else you are correct about the market decides the price but the reason gas prices were so cheap during the Trump administration is because we maximized output as much as possible. We flooded the market with light sweet crude which Texas produces an enormous amount of very high quality. we have some of the highest quality oil in the world easily refined. I've been in oil and gas for 17 years I work right alongside two of the largest oil and gas producers in the United States and one in the world they're not drooling for more Wells because this administration declared war on oil and gas by and several people in his cabinet had said multiple times they are actively trying to end Big oil. No one wants to spend millions or billions of dollars drooling or laying new pipelines because they know this administration is going to come after them. I'm right in the middle of all of this. The oil and gas pipeline business was booming until Biden took office and in my industry 200,000 plus people have lost their jobs.
Canada has the second biggest oil reserves in the world and the best Carbon reclaim in the world. Americans should be asking why Biden stopped the Keystone XL pipeline from Alberta to Nebraska. All because it was green lighted by Trump. Wouldn’t it be beneficial if oil came from your neighbors?
The world isn't shifting away from fossil fuels at all. Peak oil hasn't come yet and it's going to be supplanted by natural gas. We're not going to see this sudden drop in oil consumption. Biden's done everything in his power to be hostile to the energy industry. He revoked the permit for would have been the first major refinery to be built since 1977, one that was designed to refine the very type of oil that the Keystone XL pipeline would transport. We're being led by an senile idiot who has surrounded himself by fanatics. I think we were better off with Orange Man. Not that I want Orange Man to return, as he'll surely do a much better job surrounding himself with yes men. Orange Man 1.0 was good, 2.0 would likely be a disaster. The Democrats should've picked Warren in 2020, but the Bernie fans ruined that. Unlike Biden, Warren is actually smart and would have been a competent leader. At this point it's gotta be DeSantis in 2024 or things will only get worse.
The narrative around Keystone is fascinating. I've had people tell me I'm lying we I say the Keystone pipeline is operating today. A lot of people have opinions about Keystone and Keystone XL, but I don't find many people with actual knowledge on the subject or fact based reasons for their opinion.
Your comment was bang on. I’d just add that when projects like the Kestone XL are shut down by the current administration, it makes it difficult for shareholders to support capital allocation to any new future projects. You just got downvoted because Reddit loves the voting bandwagon. But what you said was correct.
Wasn't that XL pipeline transporting Canadian oil to be refined? That would be money to Canada, not the US. Plus, there is already a smaller pipeline carrying that oil, just not as direct of path, so it's not like it would be any more oil than we are currently getting. The XL would just have made it get to the refinery more quickly. So the pipeline doesn't really help the US gas prices. It was mainly about jobs during the construction phase.
Wasn't that XL pipeline transporting Canadian oil to be refined? That would be money to Canada, not the US. Plus, there is already a smaller pipeline carrying that oil, just not as direct of path, so it's not like it would be any more oil than we are currently getting. The XL would just have made it get to the refinery more quickly. So the pipeline doesn't really help the US gas prices. It was mainly about jobs during the construction phase.
Refineries don't produce oil, they refine it into useable product like gasoline, diesel, jet fuel, naptha, lubricating oils, etc. But I get what you're saying. The US could upgrade refineries, and there are projects on the books to do this, but these projects take years to accomplish. Another major problem is getting those domestically refined products to American cities. America is big and its difficult to move oil and its products from Alaska to New York, or Texas to California. But this isn't just a logistics problem. Something called the Jones Act, or the Merchant Marine Act of 1920, makes this even more complicated. The Jones act was meant to protect the American domestic shipping industry, but makes it very difficult to move oil and oil products (gasoline, jet fuel, diesel, etc.) between US ports by boat. The Jones Act requires that any ship taking goods from one US port to another US port must be built in the US, flagged in the US, owned by a US company, and crewed by US citizens. This makes it ridiculously expensive to move fuels refined in the US to another US city via oil tanker. This is one of the reasons why oil produced in Canada and Montana, transported via the XL pipeline, and refined in Texas, were going to end up going to foreign countries and not the US.
>I also think canceling the Keystone Pipeline had a lot of indirect impacts to the industry. You're definitely right about it forgetting the days it was cheap. The most disingenuous thing about comparing today's prices to a few years ago is that lots of people keep trying to compare today's price to the price of gas at the height of COVID. I think people forget that the price of WTI actually went negative in 2020 and you could actually get paid to take barrels of oil off of people's hands. Now about Keystone XL. Cancelling Keystone expansion has some industry impacts, but it really doesn't impact the US market that much. The main reason is that the Keystone pipeline currently moves about 700k barrels to refineries in Texas, and the canceled XL expansion would only increase capacity to about 800K barrels (18% increase). Here is a [map of the current pipeline](https://assets.nrdc.org/sites/default/files/styles/full_content/public/media-uploads/keystone-xl-pipeline-route-map-overall-2_0.png?itok=D_lVrhNa). The other reason is that these refined products are meant to go to other countries (even the Trump administration's Keystone XL report found it would not lower US gasoline prices). This tar sand oil also isn't normal crude oil, it creates a product called bitumin. This stuff can only be handled by a small number of specialized refineries. Bitumin is basically tar and can't even be transported via pipeline without first adding additional hydrocarbons or refining into synthetic crude. This stuff is also very expensive to extract and it doesn't even make sense to produce it unless oil is over $60/barrel (which of course makes sense right now). But the bottom line is that it doesn't really affect the US market much.
> And guess what? They aren't drilling. They **are** drilling. The DUC inventory is increasing because frac bottlenecks (HHP, sand, labor, water disposal, chemicals, diesel, etc.) are more severe than drilling bottlenecks (rigs, OCTG, labor) Looking at the number of wells drilled is a poor signpost for anticipating an increase in production. DUCs exist. > So tell me how that impacts the US price of oil. Keystone XL quite obviously would have impacted US production, since that was a key midstream component needed to logically increase production from the Bakken. E&P operators would be more willing to develop their Bakken acreage if there was an acceptable medium for produced hydrocarbons to be transported out of the basin
>Why doesn't he just grant the oil permits and OK the pipeline. The oil companies already have plenty of leases to explore and possibly drill on. The pipeline ***expansion*** (the keystone pipeline is still very much functional) was in a legal back and forth under Trump and was cancelled under Biden. The XL expansion would not have done much for the amount of environmental damage it could have cause and the Native American's would've had even more land taken away all to transport more oil from Canada (and some from the U.S.) to the gulf. U.S. oil production has been slowly and steadily increasing after the end of the lockdowns to avoid overproduction when demand swings back down to normal levels. Even though the production increase has been slow and steady the U.S. has remained net exporters of oil from 2021 through today and production is already back at 2018 - 2019 levels. We're also on track to set new records in production next year. Biden has seemingly pulled all the levers within reason to solve the gas price issues here at home. Now he's looking abroad after the sanctions went into place on Russia, which made up about 8% of the U.S.'s oil imports in 2021. Russia has also fallen from #2 oil producing nation in the world to #3 due to their war, which certainly has had an effect on the world's oil. Biden opened up Chevron to begin talks with Venezuela regarding possible future projects in the country hopefully in exchange for their next election to be a democratic one instead of a fascist one. Time will only tell how that'll turn out. And next month he's going to the second most oil producing country in the world to see about increasing their production back to pre-pandemic levels too. Questionable and probably not even needed as once demand goes down a bit more due to the high costs the supply/demand balance will level out. This talk could increase the speed at which prices fall though depending on what happens. All of this shows that he's doing a lot to solve this issue. I'm sure I left out a few things too, like his supposed "use it or lose" it policy. What would you like him to do to solve this issue that you think would be effective?
Yes. Drilling, pipelines, etc. depend on state and federal permits. Biden suspended oil and gas leasing rights on public land when he took office: https://www.cnbc.com/amp/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html Oil projects take years and billions of dollars to complete, and if there is a chance of the government stepping in shutting things down (like Keystone XL), no company is going to bother investing in new projects. In addition, there are a slew of climate-related measures from the Biden administration coming from all agencies, such as a more empowered EPA, SEC mandating climate requirements, members of the Federal Reserve saying they will factor in climate change, all of this making things for the Oil industry either more expensive (time, hurdles) or impossible (cancelling permits). In addition, because of ESG mandates and policies and unpredictability, the amount of financing available for Oil & Gas has fallen dramatically. These are policies the administration encourages. https://www.washingtonpost.com/graphics/2021/climate-environment/biden-climate-environment-actions/ https://www.wsj.com/amp/articles/investor-shift-from-fossil-fuels-leaves-surging-market-to-smaller-players-11634117402 https://news.bloomberglaw.com/esg/nasdaq-urges-sec-not-to-move-ahead-with-climate-disclosure-plan
Ahh. The alt-left propaganda about "but but but mu drilling permits", which completely ignores there is a lot more to drilling than just getting a permit. Also forgetting that one of Biden's first acts in office was an executive order to forbid permits. That was slapped down in federal court. Also forgetting that last year Yellen was encouraging banks not to fund O&G. This administration has made it clear it will do anything it can to make drilling unprofitable. Let's see what was imposed in 2021: 7 days after inauguration Biden halts all new gas and oil lease sales 30 days after inauguration Biden rejoins the farce that is the Paris Climate accords May 2021 Biden removes 30% of the entirety of land available for exploratory drilling June 2021 Biden Halts ALL new drilling in Alaska Also June Trump era Natural gas regulations repealed and replaced with heavy handed nonsense that will end the natural gas industry NEPA regulations tripled overnight in October 2021 November 2021 Biden admin imposes moratorium on Chaco Canyon That doesn't even include Keystone XL, which sent a clear signal that investment in O&G infrastructure was very risky under this administration. Even now Biden's cronies are threatening crippling taxes on successful O&G companies, which will further reduce investment in needed supplies But but but, muh permits...
I can tell you’re a bit emotional right now, but take a deep breath and step back for a moment. XL was nothing but an additional way to get oil out of Alberta for export. The long term jobs it was projected to generate was FIFTY. Five Zero. Canadian jobs at that. The “thousands of jobs” argument is bunk. It’s construction was a project for contracting companies, not a job for thousands.
You do realize that the first three phases of Keystone exist and are pumping oil daily. Also XL was only to move Canadian Tar Sands production from Canada across the US to the Gulf Coast so it could be most economically moved to its final customers (mostly Japan). Very few in the US would have made a penny on XL. I own about 30,000 shares of EPD and ET so would have been a beneficiary as they both would participate in the movement from Cushing south. But I can forego those pennies. There are a lot of ways you can complain about this administration but the normal complaints you hear only resonate with those that don't have a clue how the energy markets work. But being dumb seems to be a necessity in some political circles today.
XL is a Canadian pipeline whose purpose is transporting Canadian oil for export outside of the US. It existing would actually cost american jobs now providing the trucking and rail services and it would make it cheaper to sell Canadian oil outside of the US which would reduce the supply we get now.
This inflation started on January 20, 2021 when the XL pipeline was killed off, along with thousands of jobs. It signaled to the world that the US was willing to forgo energy independence. Subsequent actions have created a Domino effect. EVERY SINGLE THING is produced, harvested, transported, etc. using fossil fuels. When you wage war against fossil fuels without a viable replacement, this bull shit is what you get. The inflation STARTED on January 20, 2021, and everything the current senile old fuck in the WH has done has only made it worse. The sad part is that it's by design. He told us he would destroy the oil/gas industry, that he would end them. Problem is he's doing just that but without any viable replacement energy. This is all the fault of the ignorant American voters. FJB fucking told us he would fuck shit up, and these idiots still voted for him. Regarding the supply chain issues, nothing has been done to curtail that issue. We were simply told to "lower our expectations"... remember that? Also, the US is STILL enforcing Covid rules that prohibit truckers from crossing the border with Canada, which is hindering meat packing plants, causing supply disruptions, raising prices. This could be easily fixed but FJB won't do it. As a side note, this "follow the science" bunch of hypocrites in DC are COMPLETELY IGNORING the Johns Hopkins study that says lockdowns were useless. I guess the geniuses in the FJB administration know better? As far as the war goes, if we hadn't turned against domestic energy production and then begged OPEC (which Russia is now part of) to produce more, and we had a coherent leader in the WH, that war would have never happened. Instead this idiot says he wouldn't react to a "minor incursion"... Idiot. Anyone coming into my house with a gun would not be considered a minor incursion. The sanctions have failed, as experts said they would, and now Russia is stronger and the rubble is increased in value. Yay, Joe, you incompetent fuck. That's enough of this rant. Your assumption of inflation being the supply chain and the war is ludicrous. Inflation was already 7.9% in February. Russia didn't invade Ukraine until the END of February. Now we're at 8.6%. Even if you could attribute all of the increase to the war, it's ONLY 0.7% (8.6-7.9) higher. The war argument holds no water. Make no mistake about it. This is all on FJB and his war on fossil fuels.
> Your right we should worry about getting things moving now but that should have been done already, not waiting until now What has caused the delay? Something within the scope of anyone's control? > when you run on what he did and cancel the pipeline day 1, what are oil companies to think? Are you referring to the Keystone XL pipeline project, which would have been owned by Canada, and still wouldn't have pumped a drop of oil to this day? Cancelling that had absolutely no impact on current gas prices. Who cares what oil companies "think", anyway? > I know if I was the ceo of exxon i wouldnt feel comfortable investing millions to drill during a presidency that is pushing to drive gas out for ev The CEO of Exxon has an obligation to the shareholders to make as much profit as possible. They have doubled their YOY profits. Has prices doubling is good for them. Maybe start aiming some of the lame at them, instead of incorrectly aiming it at Biden. > although we could probably all agree that may be for the better but that is something that would have to evolve over 20+ years not overnight The technology has a ways to go before it's viable outside of the more metropolitan areas, and the power grid would need significant upgrades in some areas. I support legislation to upgrade those things, but any legislation would need Republican support in order to pass. To my knowledge, that seems to be quite a big ask at this point. > I appreciate the decent conversation hard to find on reddit nowadays Certainly is. Not many here can have a conversation with someone they don't agree with without it devolving into them calling me a liberal (which I'm not), or a pedo, or a communist. Nice to know that there's still some out there who will actually support their positions factually.
Keystone XL was scuttled because many Democratic-aligned environmental activists did not want it. Biden kowtowed to them. To be fair, I think that burning fossil fuels should not be part of the future given climate change, but we need to think much, much more than just eliminating fossil fuel consumption and move to electric cars. America is just too spread out, we spend way too much time and energy commuting by car in this country. But reconfiguring cities to be denser and better suited for mass transit is going to be a very hard sell.
“I’m not reading that. Yes, you’re wrong.” Spoken like a true fool. Heaven forbid you learn something. People like you are the reason everything is fucked up. You don’t know what you don’t know, and your hubris only makes it worse. I literally just read an article from Politifact dated in late January 2021 about why Biden destroying Keystone XL and other projects in the energy sector wouldn’t raise the price of crude. Boy that didn’t age well, did it? I was able to start my own business and do very well because of what I learned about the markets, and the money I made off them. I produced my own startup money to fund my business using the principles that you say are wrong. You, and people like you need to just go back to playing video games and let the grown ups manage the economy. You probably believe in MMT don’t you? That hasn’t worked out well either...see a pattern? Fucking idiot.
Riiiiiiiiight. So more supply = higher costs then? Guess my economics is all wrong. Here I thought more supply of a commodity in the world market dropped prices. Silly me. Petroleum is petroleum. Yes it will serve different purposes, from making gas to making plastics and even makeup for the girlfriend you’ll never have. Makes little difference. Besides, the tar sands you speak of can be refined into higher end fuels, just takes more effort, and if that oil isn’t there, they still use oil from somewhere else, thus reducing the supply and upping the demand. You’ll have to explain why the cost of crude and gas/diesel jumped immediately after Biden shutdown the pipeline for your argument to make a single shred of sense. The whole “Keystone XL pipeline wouldn’t reduce costs” line is what the morons who think climate change will kill us all by 1970, oh wait, 1980, wait wait...we will all be dead by ‘99 surely bc the evil sun monster is going to raise the sea levels by 29’ and drown us all if we don’t burn in the fires. Shit it’s 2022 and we are still here? I bet we are all gonna die from climate change by 2024. If not then, then definitely by 2030. We are all goners!!! I bet you believe that if you believe that increasing supply increases prices, right? Give me a break.
If depends on the delearship and carry maker. My GMC YUKON XL was only 1.99. 6 years later, after paying for it, the difference in current value versus what I paid for is $7,900+ FOR ME. First time in my life that AN SUV has more value than the cost of borrowing after financing term has ended. My GMC officially is not a liability. I'm not selling it but it sure made me look at GMC higher brand SUVs differently. Not all vehicle financing are a liability. Research the car and the dealership rates very well.
Fun facts about the Keystone XL: \- The permit for it was pulled in 2020 by the Supreme Court. Pres. Biden basically signed an order doing what was already done. \- The pipeline was a transport system, not a new production system. That same oil from Canada is still flowing. \- Most of the oil from that source is going toward plastics/manufacturing and is set for export. \- The use of the pipeline may have increased oil prices as it would have erased a 30% discount we get from Canada from that oil field.
The Earth has been around for a very long time. Billions of years. There have been ages (such as the ice age) on up. The climate has *always* been changing. Furthermore, population has and will always increase exponentially. As a result, life will be finite or at least peak but it's not like this is a US issue, it's a global one which.. The rest of the world (ie. China / India) don't give a damn. We are only shooting ourselves in the foot. I'm all about getting to a place where we use as much renewable as possible. However, the woke crowd in the United States is fucking us over because again, other parts of the world don't give a shit and it slows innovation. In other words, by handcuffing oil and gas, prices go up (obviously) which then makes everything more expensive so jobs get lost and the cost to research / develop goes up so less R&D happens. I say, open the tap, drive prices down, BUT, emphasize innovation and development into renewables so that we can get there faster. Instead, we just limp towards it and never really get anything done while oil/gas industry / execs just get to sit back in the cut and line their pockets because they know we need it and we'll buy it at whatever price. Then, when people get pissed, they just go "Well look at what the president wants... I mean, on day one he shutdown Keystone XL and ended leasing on public lands" which is true. Meanwhile, the middle class is paying 20% more for everything from groceries to heating/ac all while now also figuring out increased taxes that go us what exactly? I'm not an oil hardo. I'm a make sense hardo. I probably want a similar outcome as the environmentalist "but the climate for our children" types. But you are standing in the way and slowing us down AND being hypocrites about it. (Hypocrites being the city folk virtue signaling but still riding around town in Suburbans)
Keystone XL had literally next to nothing to do with the US. I say next to nothing because the only way the US was EVER involved was the tar sand was coming here to be refined, it doesn't stop here and add to our supply. Please, please, please get how that means the Keystone XL never would have helped us. ​ Also, please actually look into your talking points because you're factually wrong: https://www.washingtonpost.com/politics/2021/12/06/biden-is-approving-more-oil-gas-drilling-permits-public-lands-than-trump-analysis-finds/
The pipeline wasn't expected to be finished for 2 years so that is a total non-sequitur. Biden is negotiating with other countries right now to that end though. However, no, the XL pipeline wouldn't help anything for at least two more years, then however much more time it would take to negotiate trade to the US once the refinery was in production, estimate a few more years and you're looking at a minimum, absolute minimum of 4 years.
Putin Price Hike LOL. Sorry, this results from Biden's war on oil: Cancel Keystone XL Make it difficult for bank to loan money to oil and gas for exploration and capital expenditures Create an environment where O&G doesn't want to invest in exploration. Get US involved in dumb proxy war taking 20% of energy off the market. However, China and India now enjoying discounted fuel. No drilling in Alaska Join dumb Paris Accords And Biden expects everyone to take out $80k car loans for Teslas? Sometimes I wonder if Team Biden realizes oil and gas are part of manufacturing and farming, which is a contribution to inflation. Probably not.
That is so stupid. Keystone XL would have next to 0 impact on growth of the oil market. What people who believe that this is Bidens fault failt to realize is that commodities are global and do not give a fuck about american politics. Ie the Germans are paying $11USD per gallon right now and interestingly, Biden is not President of Germany.
"Keystone XL, an expansion of an existing North American pipeline, would have carried 830,000 barrels of crude oil from Alberta, Canada, to Nebraska daily at its peak. At the time Mr. Biden halted its construction, the $8 billion expansion was only about 8% complete, according to Reuters. Yet many experts agree that moving ahead with the pipeline wouldn't have prevented U.S. gas prices from climbing to a record high. Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible." "I can see why people make that connection," Nemet said."But in terms of gasoline prices and global oil prices, it's just something it's better to just ignore because it would have no impact." " [https://www.cbsnews.com/news/could-the-keystone-pipeline-help-limit-rising-gas-prices-oil-cbs-news-explains/](https://www.cbsnews.com/news/could-the-keystone-pipeline-help-limit-rising-gas-prices-oil-cbs-news-explains/) ​ So you agree with Trump that the US should just allow Russia to take over Ukraine, and then further reunite the glorious USSR by invading other counties as well? The Republican party everyone.
The XL pipeline that had yet to be built. The XL pipeline that would in the most optimistic terms, be completed two years from now. Not ready for use, but mostly completed. Imagine trying to build a multi-state, two country long pipeline with today's supply chain issues. But sure, it's Biden's fault.