How The U.S. Is Pumping More Oil Than Any Country In History

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  • Опубліковано 1 лис 2024

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  • @Bryghtpath
    @Bryghtpath Місяць тому +258

    The U.S. became the world's top oil producer in 2018, surpassing Russia and Saudi Arabia. Now it’s breaking its own records, with over 13 million barrels a day!

    • @bengaltiger96
      @bengaltiger96 Місяць тому

      But that can't be true! Trump tells me Biden has banned all oil production whatsoever!

    • @LordGadwin
      @LordGadwin Місяць тому +19

      Obama was all about drilling. Obama laid out most of this.

    • @PatrickVieira-d3s
      @PatrickVieira-d3s Місяць тому +4

      Stolen Síria and irak

    • @xandror
      @xandror Місяць тому +4

      .. and we have double the population of those countries combined. We use about 20 million barrels a day.

    • @francismarion6400
      @francismarion6400 Місяць тому +1

      @@Bryghtpath Despite the government.

  • @ZiggyBoon
    @ZiggyBoon Місяць тому +534

    The US replacing Russia as Europe’s major supplier of oil & gas is a huge geopolitical shift, further deepening the overall importance of the transatlantic system.

    • @KamBar2020
      @KamBar2020 Місяць тому +17

      Slava TSMC 🇹🇼

    • @johnnyq4260
      @johnnyq4260 Місяць тому

      LOL those European suckers.

    • @sarkaranish
      @sarkaranish Місяць тому +25

      YEP. War is no longer fought with bodies and bullets, but dollars and resources. One of the biggest reasons Russia's economy is failing is all the sanctions put on it, not the war.

    • @chrissoto4878
      @chrissoto4878 Місяць тому +44

      ​@@sarkaranish Idk if you don't have access to the news; but wars are still fought with bullets...
      I kinda get what you're saying; but since the dawn of times people fought over resources and traded with people they got along with. Iron/Steel, Gold, Uranium; all resources humans have fought over or used to leverage trade.

    • @azzuri09
      @azzuri09 Місяць тому +46

      The biggest loser in this situation is Europe itself

  • @Sumtoshi
    @Sumtoshi Місяць тому +480

    It’s amazing they didn’t bring up how important oil is for manufacturing. It’s not just about oil / fuel. Oil is used in making everything we use.

    • @joseaguirre744
      @joseaguirre744 Місяць тому +32

      plastics and fabrics are a huge one.

    • @Hiiamsamm
      @Hiiamsamm Місяць тому +17

      No it’s not 😂 maybe plastics but not everything. That was like 40 years ago boomer.

    • @RK-cj4oc
      @RK-cj4oc Місяць тому +39

      What? You have no idea then how much plastic and silicons we use in our daily life. We use it for everything.​@@Hiiamsamm

    • @GoronCityOfficial
      @GoronCityOfficial Місяць тому +34

      @@Hiiamsamm lmao get into semiconductor manufacturing, oil is a primary ingredient for resistors, caps, coatings, interlace materials, you name it.

    • @maynotbe
      @maynotbe Місяць тому

      it doesn't have to be, but they lack the will & intellect to change. ccp will win the energy race. we'll see...

  • @romneyhugo
    @romneyhugo Місяць тому +813

    The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.

    • @smithlenn
      @smithlenn Місяць тому +1

      Biden is worst thing that happened to us

    • @belljoe
      @belljoe Місяць тому +12

      TRUMP 2024

    • @dawsondanny990
      @dawsondanny990 Місяць тому +6

      I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 40, I am thrilled to share that my passive income exceeded $100k in a single year for the first time. This success reinforces the importance of the advicmonth e mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.

    • @smithlenn
      @smithlenn Місяць тому +1

      Fantastic! Can you share more details?

    • @dawsondanny990
      @dawsondanny990 Місяць тому +4

      was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.

  • @RoobieRhoo
    @RoobieRhoo Місяць тому +33

    Wait! So they made $173 billion in profits and needed tax incentives to do so? Man, greed is good.

  • @brandino97yyc
    @brandino97yyc Місяць тому +224

    The USA is so weird say they are capitalist but hand out so many subsidies

    • @peraltaisrael2598
      @peraltaisrael2598 Місяць тому

      No country can be 100% “capitalist” dont be a dummy! So is china a “100”% communist?

    • @timothykeith1367
      @timothykeith1367 Місяць тому +39

      Oil "subsidies" are tax breaks - principally depreciation allowances - accounting rules that apply to the business cycle of many recovery industries such as mining.

    • @charltonblake9967
      @charltonblake9967 Місяць тому +18

      I think you meant to say free market. Subsidies and strong private property can coexist.

    • @VickyYadav-qj6kv
      @VickyYadav-qj6kv Місяць тому

      US hypocrisy is next level u need sharp brain to understand how this hypocrite play.....

    • @Roq-stone
      @Roq-stone Місяць тому +19

      Wierd = hypocritical?

  • @thomasr7129
    @thomasr7129 Місяць тому +19

    Record heat, droughts, rainfall, storms - for years now, and it is ramping up. We're so FUBAR.

    • @ryanehlis426
      @ryanehlis426 Місяць тому

      Lol 😂 Ugg you buying the climate scam?

  • @MyLifeOfficial
    @MyLifeOfficial Місяць тому +9

    Absolutely cannot get enough of these type of videos that CNBC makes! Thanks so much for making these!

    • @123works
      @123works Місяць тому +3

      no politics, no propaganda, simply FACTS

  • @danthonylynch4541
    @danthonylynch4541 Місяць тому +86

    Also Factor in what kind of oil is being produced and refined. To my knowledge U.S refineries mainly process sour crude oil and the oil the U.S produces is called “Sweet Crude” which has less sulfur,easier to refine, and sells at a higher price.

    • @Demopans5990
      @Demopans5990 Місяць тому +9

      Shale oil is also predominantly short chain hydrocarbons, so they're actually too light for refineries to process on their own

    • @danthonylynch4541
      @danthonylynch4541 Місяць тому +2

      @@Demopans5990 I appreciate that knowledge!💯

    • @danthonylynch4541
      @danthonylynch4541 Місяць тому +7

      Not to mention most of our refineries are configured to only handle sour crude and dirtier forms of crude because of its availability. Venezuela has the world’s largest Sour Crude Reserves.

    • @ctgottapee9020
      @ctgottapee9020 Місяць тому +1

      Hence the reason for the Keystone XL to get the shale oil out to other regions. Some midwest refineries use it and it pressures midwest prices lower as there are few buyers.

    • @alystero8838
      @alystero8838 Місяць тому +5

      Sweet oil can only make gasoline not diesel or jet fuel which is why US imports heavy oil from Canada, Venezuela, mid east.

  • @Justan669
    @Justan669 Місяць тому +148

    I remember when we were about to run out of oil 20 years ago...

    • @Desperate-Drive3423
      @Desperate-Drive3423 Місяць тому +36

      yes but because fracking and horizontal drilling they were able to recover a lot more from wells that were supposedly dry like they said in the video

    • @adridell
      @adridell Місяць тому +20

      The US was running out of oil before shale oil. It takes 30 seconds to look at a graph and see that the US had an oil production peak during the 70's just like M. King Hubbert predicted in the 50's, that is conventional oil. That's what made the US a big importer of oil since then and created tensions between the US and other regions of the world and contributed to wars like Irak to ensure sufficient supply of oil for the US which was increasingly becoming a massive importer. The US stopped declining ever since it became capable of exploiting shale oil, which is environmentally a disaster even compared to traditional drilling, and it's EROI (Energy Return on Investment) is really bad too compared to conventional oil, so it's terrible from a transition and environmental perspective, but has allowed the US to restart it's economic machine and to some degree restart the world economy too by becoming once again the biggest oil producer in the world.

    • @Desperate-Drive3423
      @Desperate-Drive3423 Місяць тому

      @@adridell well said It think we got a good decade before oil prices will rise again because of US oil proudcition slowing down with a bad recesion with it :)

    • @adridell
      @adridell Місяць тому

      @@Desperate-Drive3423 When world oil production starts to decline it will not translate into continually increasing oil prices. Oil is an essential ressource for the economy to function and thus, what matters with oil is the amount that is produced not it's price. When oil starts to decline prices will indeed rise, but since that means less oil it will fundamentally also change the purchasing power of demand, since less oil means less economy, and thus demand will drop too, when oil starts to become scarcer it will translate into continually unstable prices, not by continually increasing prices, because both, the offer and demand of the market will change according to how much oil is available and thus how much economy is possible, prices of essential ressources like oil do not determine how much economy we may have, it is the amount we extract that matters, because oil structures our economy and without oil there is no economy.

    • @Justan669
      @Justan669 Місяць тому

      @@adridell point is, the "experts" were objectively wrong. Its a shame that the Canadian government didn't follow your lead instead of funding groups to oppose our energy independence.

  • @darylb5564
    @darylb5564 Місяць тому +26

    I remember peak oil back in the 70’s. Boy did that ever age poorly

    • @MetaTaco317
      @MetaTaco317 Місяць тому +5

      But if you look at that production chart, it was correct for over 30 years as production declined year over year.
      They just didn't account for technology that just became available in the last decade or so, would be so good at getting at the oil.

    • @darylb5564
      @darylb5564 Місяць тому

      @@MetaTaco317 they probably aren’t accounting for us going after the untouched reserves in the future also. It just cracks me up when the experts get it so wrong

  • @spartan662501
    @spartan662501 Місяць тому +165

    Just imagine, there are countries out there who harnessed their natural resources to build a sovereign wealth fund for the benefit of their citizens which will be around long after the oil drys up. In contrast, we decided funneling the profits to massive, multinational corporations was the way to go. It's so moronic.

    • @pranshukrishna5105
      @pranshukrishna5105 Місяць тому +31

      The majority of Countries with Sovereign Wealth Funds have large surpluses in their budgets. The reason is they have major extractive industries within their countries that produce more income than they choose to spend on themselves. So they keep the extra money and use it to invest in commercial opportunities.
      In general this is a good idea. The commodity they are extracting will some day dry up. If the spent it all now they would have an economy they could not support in the future when the income stream no longer existed.
      Other countries use their sovereign wealth funds to invest in businesses they government thinks are important. The government is picking and choosing what it thinks is best circumventing the normal capitalist process.
      Several states within the United States have sovereign wealth funds.
      My question to those that think the money held in the federal governments trust funds should be invested is do you really want the federal government being a major owner of private businesses? Do you really want that level of influence which would be inherently political?
      The United States has a different approach. It funds many major research institutes that produce basic science which is then available to be developed and commercially used.

    • @szhu25
      @szhu25 Місяць тому +16

      You mean something like Alaska Permanent Fund?

    • @alexlerwill344
      @alexlerwill344 Місяць тому +7

      I don’t understand why it can not be both! I love law abiding big business but also acknowledge the land should be the peoples and therefore they should receive a share

    • @pranshukrishna5105
      @pranshukrishna5105 Місяць тому +2

      @@alexlerwill344 that's called georgism

    • @basvriese1934
      @basvriese1934 Місяць тому

      No it's really smart actually, if you're a politician and you take bribes to make sure big companies get all of the money then you will be rich and who cares about the rest of the country if you're rich enough to never have to work anyways

  • @harveysanchez6993
    @harveysanchez6993 Місяць тому +187

    Makes you wonder how much oil there is buried in the earth.

    • @hammerdown3876
      @hammerdown3876 Місяць тому +42

      a lot. its a big earth... not unlimited though. Last estimate I heard is 150 years worth at our current consumption rate.

    • @G-Man-half-life
      @G-Man-half-life Місяць тому

      the world has around 1.57 trillion barrels of proven crude oil left before we actually run out.

    • @francismarion6400
      @francismarion6400 Місяць тому +32

      more than we could ever use.

    • @junbun3642
      @junbun3642 Місяць тому +7

      A simple google will tell you the answer. You don't have to wonder.

    • @G-Man-half-life
      @G-Man-half-life Місяць тому

      the world has around 1.57 trillion barrels of proven crude oil left before we actually start running out of it.

  • @Chris.y.0199
    @Chris.y.0199 Місяць тому +66

    Record oil production + record fuel and electricity prices = Record profits for the companies & record burden on the consumer.

    • @mustang131radio
      @mustang131radio Місяць тому +7

      Yea, the greedy politicians should lower the burdensome taxes on energy.

    • @ctgottapee9020
      @ctgottapee9020 Місяць тому +2

      Oil produced today does not cost the same as oil produced 10 years or 50 years ago.
      Horizontal drilling and fracking are expensive - mid east and russian wars are about as expensive.
      The US sucked our cheap oil away long ago.

    • @charltonblake9967
      @charltonblake9967 Місяць тому +4

      Gas is actually pretty cheap. We were paying today's prices but 15 years ago when I was just out of college.

    • @yia01
      @yia01 Місяць тому +4

      nothing is stopping the citizen from investing into those big oil companies and get a share of the pie.

    • @sender5804
      @sender5804 Місяць тому

      record fuel prices - wrong
      record oil production - good, otherwise prices will be much higher
      you - low iq troll

  • @NikolaStamenkovic6
    @NikolaStamenkovic6 Місяць тому +48

    If the business is so good, why are future oil contracts constantly being sold under current price?

    • @elcaciquedev
      @elcaciquedev Місяць тому +27

      For the same fact that business is booming so an increase in supply will guarantee a decrease in prices.
      Expectations of Future Supply and Demand: If traders expect that future supply will exceed demand, they might sell futures contracts at a lower price to hedge against potential losses. This expectation can be influenced by factors such as increased production, technological advancements, or geopolitical stability.

    • @NikolaStamenkovic6
      @NikolaStamenkovic6 Місяць тому +3

      @@elcaciquedev Correct, in the video they mentioned that demend is going down due to geo political problems and that demand for US oil is growing. So future contracts imply its not advancement in technology but something else that will bring down price of oil. It's clearly demand issue since supply is more than stable.

    • @bitcoindaddy1
      @bitcoindaddy1 Місяць тому

      Because opec dictate supply. The oil grade that world needs is not the oil coming from US

    • @Fried52
      @Fried52 Місяць тому

      Sleepy Joe Biden the Oil trader sold over 130 million barrels from the SPR when prices were above $105 a barrel back in Feb 2022, and has been buying them back between $70-$80. He capped the market below $90 and made a ton of money for the Treasury.

    • @Fried52
      @Fried52 Місяць тому

      Biden sold over 130 million barrels from the SPR when prices were above $105 a barrel back in Feb 2022, and has been buying them back between $70-$80.

  • @tysontman87
    @tysontman87 Місяць тому +44

    We need refineries.......

    • @allenaxp6259
      @allenaxp6259 Місяць тому +5

      Make America Trump and Maga Free! Vote blue 💙 💙 up and down the ticket. 🇺🇸 💙 🇺🇸 💙 🇺🇸 💙 🇺🇸

    • @TheSmark666
      @TheSmark666 Місяць тому +2

      Why? That would just create more product and prices would go down. Can't have that. No, instead more needs to shipped overseas where it can be sold at even higher price.

    • @achangyw
      @achangyw Місяць тому

      Create more jobs. Good for USA

  • @W-H-O
    @W-H-O Місяць тому +59

    Wind and solar energy can be resource-intensive, but nuclear power stands out as the best option we have right now. With today’s technology, nuclear plants can be built safely. Those who oppose it often do so out of a lack of understanding.

    • @timothykeith1367
      @timothykeith1367 Місяць тому +6

      Unfortunately, regulations add so much costs that nuclear isn't cost effective. Inherently safe nuclear technology could reduce the requirement for some regulations

    • @time2fly2124
      @time2fly2124 Місяць тому +5

      @@timothykeith1367 10+ years development and $15 billion dollars of investment for a plant that only last for 40 years is a big ask. i'd like to see more nuclear but it doesnt seem economically feasible.

    • @halo2pro9
      @halo2pro9 Місяць тому +3

      @@time2fly2124 nuclear plants can theoretically last 80 years

    • @ctgottapee9020
      @ctgottapee9020 Місяць тому

      not under US permitting and labor regulations, as well as our capital system where every piece is on borrowed money and lenient bankruptcy is available.
      it also takes a lot to overcome the NIMBY pressure which means you have to add lots of distribution and remote costs into the picture.
      the most recent plants to come online, Vogtle, have added high surcharges to power bills just to break even.
      the reverse side of the coin under nationalization is that it becomes affordable but risks govt cronyism and ineptness, aka Japan, and all those extra costs come right back. Fukushima cleanup is at $82 billion and counting and they haven't even started, nor does it include all the externalities (destroying entire regions of land value); $800 billion is the predicted final cost.
      the whiteboard looks clean, but us humans haven't been able to figure out how to manage it
      France so far hasn't done too bad...

    • @brodriguez11000
      @brodriguez11000 Місяць тому

      @@ctgottapee9020 Plus the plants that Make Nuclear Great Again haven't been built in any meaningful scale that allows boasting how wonderful nuclear is.

  • @jameskamotho7513
    @jameskamotho7513 Місяць тому +141

    We can at least thank the US for stabilizing global oil prices. We nonproducers know what it means in our lives when prices go up...

    • @sid1290
      @sid1290 Місяць тому +18

      Yup. Thank you USA. May you be blessed.

    • @joseaguirre744
      @joseaguirre744 Місяць тому +11

      @@jameskamotho7513 The world would be in the whims of OPEC

    • @MRWaGa-tc1oi
      @MRWaGa-tc1oi Місяць тому +1

      yes 100%

    • @volkerengels5298
      @volkerengels5298 Місяць тому

      On my knees. Thank you biggest polluters in the world. *It is not hot enough in Phoenix??*

    • @hugolizard
      @hugolizard Місяць тому

      The U.S. said no to Russia Ukraine peace deal, then blew up EU’s normstream pipeline and made EU dependent on US oil… i mean if you can even call them the good guys…

  • @nickfromm9492
    @nickfromm9492 Місяць тому +4

    Why do they need subsidies when they made over $150 billion in profits? 🧐

  • @migueralliart
    @migueralliart Місяць тому +2

    Why don't you guys mention the fact that part of this "production" is them draining the SPR?
    This is so misleading.

  • @jrstsb1353
    @jrstsb1353 Місяць тому +4

    Sprinting in a marathon, not going to last.

  • @uclamordsith
    @uclamordsith Місяць тому +2

    I just don't understand the subsidies for oil production when these companies are making record profits... smfh

  • @dlewis8405
    @dlewis8405 Місяць тому +43

    I would feel better about this if the spike in oil production is temporary while the country shifts to renewable energy. Instead people just keep buying SUVs and complaining about gas prices, like climate change is a problem for someone else and not their own children.

    • @HKim0072
      @HKim0072 Місяць тому +6

      The renewable slows crude growth. Global oil use is only up 2% over a 4 year period (2023 vs 2019).
      US oil production is weakening OPEC+ control on the pricing markets.

    • @Demopans5990
      @Demopans5990 Місяць тому +1

      I live in NYC. Who cares about gas prices when public transit gets you 95% of the way there in the same amount of time it takes to drive in the city? $5 a gal? Whatever. $3 gets you from one end of the city to the other in 2 hours, whereas you're lucky to run the length of Manhattan in 1 hour by car. And bikes are essentially free in comparison to a $15k used car

    • @colinfitzgerald4332
      @colinfitzgerald4332 Місяць тому +3

      @@Demopans5990 my son lives in New Brunswick, NJ. He hasn’t owned a car in 7 years: no need to own one. He rides NJ transit rail to NY frequently. His savings from not owning a car is thousands of dollars every year.

    • @Demopans5990
      @Demopans5990 Місяць тому +2

      @@colinfitzgerald4332
      And then said savings get eaten up by housing costs because people really like to live close to convenience.
      I did some napkin math, and discovered that the amount of savings I'd get living in AZ or TX due to lower housing prices will get gobbled up by gas, tolls, and insurance, because there's absolutely no way I can get a low mileage discount driving in the south like I have in the city. And that's discounting the additional 1-2 hours per day of mindnumbing traffic, and the health effects of sitting still for that long.
      I'm 24 and I'd prefer my body to not self destruct by the time I'm 40 like most Americans.

    • @colinfitzgerald4332
      @colinfitzgerald4332 Місяць тому +1

      @@Demopans5990 my wife and I are 70 yo and use bicycles with saddle bags for most of our shopping. When she arrives home with groceries, she looks vibrant. We drive a Toyota hybrid for times cycling doesn’t fit the mission. I agree; long commutes in a car takes its toll on your health over the years unless you work out regularly in some way.

  • @jimysk8er
    @jimysk8er Місяць тому +2

    they get all panicked about people not being able to fill up their tank but they forget that that fear is a result of total and complete dependency and therefore ensures demand.

  • @JalapenoSteve
    @JalapenoSteve Місяць тому +5

    Yep we're still in the oil age.

    • @wiln6854
      @wiln6854 Місяць тому

      If you look at the oil consumption curves, we are in the slowing phase of the sigmoid (logistic) curve, and is actually in the saturation phase if we use oil/capita consumption. It means the oil age is here, but on the way out.

  • @jebbo-c1l
    @jebbo-c1l 18 днів тому +1

    the fossil fuel industry should receive $0 subsidies in a just world

  • @caleba411
    @caleba411 Місяць тому +30

    The oil companies are price gouging!!!!

    • @ronaldpoole3273
      @ronaldpoole3273 Місяць тому +5

      Straight from the Marxist playbook

    • @custos3249
      @custos3249 Місяць тому +9

      @@ronaldpoole3273 That's certainly one way to say you heard someone misuse the term once and stopped thinking.

    • @ronaldpoole3273
      @ronaldpoole3273 Місяць тому +1

      @@custos3249 and you just admitted you are a Marxist

    • @custos3249
      @custos3249 Місяць тому +4

      @@ronaldpoole3273 Says the person that can't define the concept.

    • @jamesthomas6611
      @jamesthomas6611 Місяць тому

      They should do as the current government is trying to block investors

  • @alaaa1794
    @alaaa1794 29 днів тому +1

    Fracking after effects will be felt by future generations. It will not be pleasant

  • @MarcNava-m8n
    @MarcNava-m8n Місяць тому +4

    Drill baby drill

    • @KillroyX99
      @KillroyX99 Місяць тому

      That baby was drilled in 2022, 2023 and 2024 YTD
      Record oil production, baby!

  • @rickboer7715
    @rickboer7715 29 днів тому +1

    Just be forewarned that Fracking can cause earthquakes and catastrophic environmental damage not to mention the staggering water needed to produce oil.

  • @Stefch2
    @Stefch2 Місяць тому +24

    At least underground water is not affected by micro plastic. Oh wait fracking will with gaz.

    • @guymann4016
      @guymann4016 Місяць тому +3

      Yawn

    • @AR-mc8mn
      @AR-mc8mn Місяць тому +6

      It's not really the fracking process that does it. If anything it's the disposal wells. Interaction between subsurface freshwater and drilled wells or disposal wells, in general, is minimal due to the extreme distances in depths. Subsurface groundwater (fresh water) is normally in the hundreds to a couple thousand feet. Wells are drilled at depths of thousands and tens of thousands of feet. It's rare, in this day, that a wellbore would go through a fresh water reservoir on the way to wanted reserves.

  • @UPdan
    @UPdan Місяць тому +1

    They are pumping trying to keep up production because the wells now fall in output at an incredible rate. Permian has 3 layers and we're down to 3rd floor basement.

  • @Akira282
    @Akira282 Місяць тому +35

    Let's take Climate change into consideration said by Govt, now "let's make sure to be the biggest oil supplier." Earth: My turn.

    • @shane864
      @shane864 Місяць тому +3

      The oil used in manufacturing doesn’t contribute directly to climate change. It’s only burning it for fuel that does that. It’s still going to be the most important natural resource on earth even after we stop burning it for energy.

    • @user71285
      @user71285 Місяць тому

      Climate change will happen, regardless of human activity. As it always has for billions of years.

    • @jimthain8777
      @jimthain8777 Місяць тому

      @@shane864
      Not if we burn it all for profits today.
      In that scenario, there's nothing left for manufacturing in a couple of decades.

  • @AR-mc8mn
    @AR-mc8mn Місяць тому +13

    Let's also talk profit margin.
    In 2021, when oil prices averaged $71 per barrel, oil producers could expect a profit of at least $15 per barrel. In 2020, when oil prices averaged $42 per barrel, it was difficult to break even producing oil. A different online data set based on fiscal year 2020 accounting data calculates the average net profit margin for the oil and gas production and exploration sector at about 2.8%
    This is just on the upstream side and includes cost for buying seismic data, geotech analysis, appraisal, further exploration, development, drilling, and producing. This doesn't then include the midstream and downstream costs or profits. Transport from asset to refinery, cost of refining, cost to transport and sell.
    Not all oil produced can be made into every needed product and can't be refined at every refinery. It's crazy complicated and they just scratch the surface in this video.

    • @fernandopimentel5463
      @fernandopimentel5463 Місяць тому +3

      Very interesting and actually proves the strength of US oil as 2020 was a black swan year. Especially as the upstream players are the most vulnerable as they are exposed to the volatility of the market where as the others have long term contracts in place that make them way more of a stable business that would need years of a very bad market to suffer significantly.

  • @krunalpatel4884
    @krunalpatel4884 Місяць тому +27

    We should stop using word natural gas for "fossil gas"

    • @heronimousbrapson863
      @heronimousbrapson863 Місяць тому +5

      Calling it by a different name will change nothing.

    • @Kevin-438
      @Kevin-438 Місяць тому

      It’s because there is synthetic gas and natural gas.

    • @Roq-stone
      @Roq-stone Місяць тому

      MMmm, sounds much greener for real.

    • @Jonathan-un7uq
      @Jonathan-un7uq Місяць тому +2

      @@heronimousbrapson863wrong. It changes public perception.

    • @ZeinGold
      @ZeinGold Місяць тому

      I will still call it natural gas

  • @gregspecht3706
    @gregspecht3706 Місяць тому +15

    Do we count the well below market rate that oil and gas gets charged for drilling on public lands vs private land as a subsidy? Thats a huge subsidy.

    • @SteveLomas-k6k
      @SteveLomas-k6k Місяць тому

      The only subsidies oil companies get are for 'green' energy projects.

    • @ctgottapee9020
      @ctgottapee9020 Місяць тому

      the rate is the same as what a private landowner with underground rights would receive. many of our public lands have some high costs of access to them.
      the govt cronyism that may go along with who wins what rights is def a subsidy but hard to calculate and not realized equivocally of all players and also applies to private land deals as well.

    • @gregspecht3706
      @gregspecht3706 Місяць тому +1

      @@ctgottapee9020 the royalty rate for the federal government is 12.5% while most private land rates are closer to 25%. How is that the same?

    • @ctgottapee9020
      @ctgottapee9020 Місяць тому

      @@gregspecht3706 it was. it's 18%. private is 12-25% often with less scrutiny and easier access. each contract should be negotiated like the free market but govt cronyism might elicit a lot of kickbacks on that.

  • @waywardgeologist2520
    @waywardgeologist2520 Місяць тому +22

    9:53 $600 billion could have built 200 nuclear reactors bypass the need for solar and wind.

    • @seanthe100
      @seanthe100 Місяць тому +1

      Math is way off

    • @waywardgeologist2520
      @waywardgeologist2520 Місяць тому +2

      @@seanthe100 it’s not if one goes to a standard design and a supply chain in place. They were building them back in the 1960’s for about a billion per 1000 MW unit in todays money. I factored in 3x for buffer.

    • @treborrelluf
      @treborrelluf Місяць тому

      @@waywardgeologist2520 'If." You sir are a riot.

  • @joeyboedeker2047
    @joeyboedeker2047 Місяць тому +1

    Crazy that in other countries, profits from energy go into the infrastructure of said country.
    Not in the states though.

  • @USACars-id3bf
    @USACars-id3bf Місяць тому +35

    Gas prices are high because They Can. People let them.

    • @stephaniehernandez7209
      @stephaniehernandez7209 Місяць тому +4

      gas is too cheap

    • @jasonhas7456
      @jasonhas7456 Місяць тому +5

      @@stephaniehernandez7209 No

    • @stephaniehernandez7209
      @stephaniehernandez7209 Місяць тому +1

      @@jasonhas7456 yes

    • @bunta69
      @bunta69 Місяць тому

      @@jasonhas7456 yes you're just poor

    • @michaelcavalier8750
      @michaelcavalier8750 Місяць тому

      Why don't you look it up instead of stating something that you don't know to be true? Inflation is the problem and the government causes it. afdc.energy.gov/data/10641

  • @jimysk8er
    @jimysk8er Місяць тому +1

    it's adorable that they still think that extracting more oil translates to lower prices for consumers. If supply goes down then prices go up, if supply goes up, then they figure out another reason to keep the prices where they are.

  • @nulnoh219
    @nulnoh219 Місяць тому +3

    it's dumb. Record production cuz of record prices. So the increased production is to chase the appreciating price. So prices are not coming down. So in the end, the consumer still suffer while the shareholder gets a windfall.

  • @punimarudogaman
    @punimarudogaman Місяць тому +2

    Wait... They keep talking about "subsidies"? Wait... Isn't that why they're imposing tariffs and taxes on Chinese electric cars and solar panels?

  • @McClelland-i7b
    @McClelland-i7b Місяць тому +15

    Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024

    • @Xavier-s4d
      @Xavier-s4d Місяць тому

      Wow that's huge, how do you make that much monthly?

    • @Jhon-z5n
      @Jhon-z5n Місяць тому +1

      I'm 43 and I have been looking for ways to be successful in life, please how?

    • @McClelland-i7b
      @McClelland-i7b Місяць тому +3

      Mark Hutchinson's expertise is truly commendable. He has this skill of making complex crypto concepts easy to understand.

    • @TommyG-b6j
      @TommyG-b6j Місяць тому +1

      Woah for real? I'm so excited. Mark Hutchinson strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started.

    • @MikeGilbert-m4k
      @MikeGilbert-m4k Місяць тому +1

      Please how can I reach this Mr Mark everyone's talking about?

  • @7megaphone
    @7megaphone 19 днів тому

    Interesting and very informative

  • @higreentj
    @higreentj Місяць тому +6

    Wind and solar plus battery storage is a continuous power source from an intermittent source.

  • @Roberto-dm8xl
    @Roberto-dm8xl Місяць тому +1

    BRICKS 2024🎉🎉🎉

  • @HKim0072
    @HKim0072 Місяць тому +50

    USA! USA! USA!

    • @truthprevails5760
      @truthprevails5760 Місяць тому +1

      Steal baby steal .., out of the land of Native American people!

    • @KamBar2020
      @KamBar2020 Місяць тому

      Slava TSMC 🇹🇼 Heroyam TAIWANese 🦾

    • @ecognitio9605
      @ecognitio9605 Місяць тому

      You're seeing none of that money 😂

    • @HKim0072
      @HKim0072 Місяць тому

      @@ecognitio9605 It's important to our national security as an American.

    • @AmericanAmish
      @AmericanAmish Місяць тому +2

      "We're still here ... We are not going anywhere." - Native Americans 😔

  • @lilianewalter827
    @lilianewalter827 Місяць тому

    This is Nice, brother

  • @kcchong5661
    @kcchong5661 Місяць тому +17

    ya, EU forced to buy US natural gas at 400% Russia's price formerly paid.

    • @davidanalyst671
      @davidanalyst671 Місяць тому

      well, is that because you allied with someone who is stupid? EU was a bunch of idiots when they ally with Russia instead of building nuclear plants and solar and wind. Germany in particular is the dumbest. Germany had a recession in 2022 winter because electricity was too expensive to run the light bulbs in their factories. You can be mad at the USA for that, but you should be mad at european policy makers for that.

    • @peakz8548
      @peakz8548 Місяць тому +9

      US natural gas only represents like 20% of EU natural gas imports. Much of it comes from Norway and North Africa. If they can get a better deal from those countries they should do so. US natural gas will be more expensive due to liquifying it before shipping.

    • @kcchong5661
      @kcchong5661 Місяць тому +1

      @@peakz8548 tell it to the EU citizens.

    • @SK-lt1so
      @SK-lt1so Місяць тому

      Russia is trying to destroy Europe, what else can Europe do? 🤷‍♂️

    • @seanthe100
      @seanthe100 Місяць тому +1

      We appreciate y'all business

  • @KseniyaTrofimova-lw6zl
    @KseniyaTrofimova-lw6zl Місяць тому +2

    I learn a lot watching your videos and it has always been helpful to Trading, It's gonna take me a while to catch up to you Thank you for sharing the good trading important video with us...take love

  • @dan4346
    @dan4346 Місяць тому +21

    Stop trying to debunk MAGA lies with basic verifiable facts.

  • @colinfitzgerald4332
    @colinfitzgerald4332 Місяць тому

    My utility company decided to raise gas and electricity unit prices minimally while doubling the service fees. So much the incentive for conserving energy.

  • @suunraze
    @suunraze Місяць тому +37

    "We can't retire our existing fossil fuel assets because we're still using them."
    That's like when I told my doctor, "I can't stop drinking soda because I just bought a whole fridge full of it."

    • @floridiantv
      @floridiantv Місяць тому +1

      What do you mean ?

    • @Joe-ul3gh
      @Joe-ul3gh Місяць тому +19

      How about this: We can't retire our existing fossil fuel assets because our current technology for renewables isn't capable of replacing it..

    • @codyschlenker6821
      @codyschlenker6821 Місяць тому +18

      You're really bad at analogies. Not everything is apples to apples. Stop thinking you're smart.

    • @andreiivanov7553
      @andreiivanov7553 Місяць тому +2

      Electrical cars made ouof oil based materials

    • @frostystoneman3273
      @frostystoneman3273 Місяць тому

      It's kind of like an alcoholic/addict stating: I can't take the time off work to stop and go thru withdrawals, if I'm going to stop I need more now I just can't stop yet"
      The thing is they're right and outside of a major life event happening most don't stop til they hit rock bottom.

  • @HeriveltoPereiraDuarte
    @HeriveltoPereiraDuarte Місяць тому

    This channel is awsome!

  • @_Bucky
    @_Bucky Місяць тому +8

    Seems America is making massive gains in non taxed finances

  • @deebil8099
    @deebil8099 Місяць тому

    I'm doing my part by taking a few laps around the block before parking my car to go into work.

  • @lembafranck3490
    @lembafranck3490 Місяць тому +11

    This is one of the many things i admire about America the capacity of reinventing themselves everytime the whole world is rooting for America to fail and decline they manage to pull something out of nowhere to stay ahead the oil production is a perfect example of that

    • @sufi8903
      @sufi8903 Місяць тому

      Yep they always manage to pull out a war as a distraction and money making scheme...creating more instability around the globe to protect itself from the chaos they create...

    • @centurymemes1208
      @centurymemes1208 Місяць тому

      the truth is. america is prepring. they simply relied on overseas because they dont want their own resources to overwhelm when it ever tuns it.

    • @sufi8903
      @sufi8903 Місяць тому

      @@centurymemes1208 more like they've been destroying the world

    • @patricialongo5870
      @patricialongo5870 Місяць тому

      Exactly. No more green, Americans beat the ecosystem. They're stronger.

    • @stickyoxtail
      @stickyoxtail Місяць тому +2

      Many Americans root for America to fail. You should figure out why.

  • @MarinaKosheleva-y6s
    @MarinaKosheleva-y6s Місяць тому +2

    I can sincerely say that you are a very good trader. Raising such money is really, really hard and incredible. I wish you continued successs

  • @Lords1997
    @Lords1997 Місяць тому +4

    Oil will still be needed in manufacturing, but not as an energy source… Unless we start creating really efficient batteries.

    • @wiln6854
      @wiln6854 Місяць тому

      or use excess energy to produce H2

    • @ryanehlis426
      @ryanehlis426 Місяць тому

      Plains and trains and long haul trucks are going to need oil for fuel, that’s not going to change anytime soon

  • @egeemaru7289
    @egeemaru7289 Місяць тому +1

    The gas lighting is strong in this video.

  • @effervescent_smegma-s1w
    @effervescent_smegma-s1w Місяць тому +7

    Gotta milk that cash cow before the wind turbines take over. 😂

  • @KingRat71
    @KingRat71 Місяць тому +2

    But oil companies are still slow to expand production despite the proftiability. If you recall the fracking boom, it was expanding production due to high oil prices. In response OPEC expanded production to a point that oil prices fell and alot of the fracking new production went bankrupt since the cost of production was not affordable due to the drop in price. Once alot of this production went offline in bankruptcy then OPEC cut back and drove prices back up again.
    Unless we build refining capacity to use the poil we pump here , then expandiong production in the US will still be slow no matter who gets elected (due to the economics and future OPEC potential backlash again) and we export our oil to other countries since it is a global market. So we really cannot drill our way to independence unless we finallly can use our own oil here. We will still be dependent on foreign oil which our refineries are set up to use.
    Plus, even if EVs were to take off more rapidly, we still need oil since our who chemical, medical and food inustries are reliant on checmicals, fertilizers and synthetics made from oil.
    Lastly, we need the oil and gas indistry to be forced to pay to properly clean up and seal old wells, old pipelines and the old abandoned infrastructure that is leaking and polluting.

  • @JCJW101
    @JCJW101 Місяць тому +10

    As a Brit I'd rather my oil came from the USA than Russia by 10000x. The long term benefit of this is trillions of dollars. Thank you USA.

    • @sufi8903
      @sufi8903 Місяць тому +1

      😂😂😂😂😂😂 oh wow

    • @supa3ek
      @supa3ek Місяць тому

      From one master to another !!!!
      Either way you brits are eager to kneel !!!

    • @hamishfullerton7309
      @hamishfullerton7309 Місяць тому

      You sicaphant, you're the reason Britain is were it is today, they've sold out to the US as a lap dog under guise of security, its ok for everyone else to be rich as long as its not Britain and look what's happened ,you're a theam park. You should be trying to source cheap energy no matter where it comes from ,you pay 3.00ltr for petrol ,do you think US care about you or the big US and British oil and gas companies they will quite happily sell you oil at that price ,start putting Britain first that's what the US always do or there companies, that's why they have cheap energy. Do you think US had Britain and Europe's best interest at heart when they blew up the Nordstrom pipeline from Russia to Germany of course they didn't, look at geo politics, the only way to win is put your own interest first as a country, have boundaries, don't let cold war US spin walk on these

    • @mistermood4164
      @mistermood4164 Місяць тому

      😂 y’all are getting finessed

  • @danyoung2011
    @danyoung2011 Місяць тому +1

    What about the poison water and earthquakes

  • @effervescent_smegma-s1w
    @effervescent_smegma-s1w Місяць тому +14

    Solar & Wind let us sell more OIL overseas. 🚀💪😘

    • @xiaoka
      @xiaoka Місяць тому

      It’s Joey B’s giant middle finger to Putin and the Saudis.

    • @PistonAvatarGuy
      @PistonAvatarGuy Місяць тому

      How? In general, we don't use oil to produce electricity. Two different things, bud.

  • @everythingisfine9988
    @everythingisfine9988 Місяць тому +2

    In that case, we should be getting a homie discount. If the Nationwide average is above $2.50 a gallon, we don't export. If the Nationwide average is $2.50 or less, we export the surplus gas

    • @santoshNarayana
      @santoshNarayana Місяць тому +4

      Not how the free market works, these are private companies that are drilling and selling the gas not the government. If you want low gas prices by the government then go down to Mexico where the government gas company PEMEX does exactly what you are asking

    • @timogul
      @timogul Місяць тому

      It's funny how many people think this is already how it works, that we need to "drill more here" to lower prices, when that's never been how it works. All "drilling more here" does to prices is that it raises overall global production, which lowers overall global prices, but it's always those global prices that determine the price at the pump, whether the oil min the tank comes from the Gulf of Mexico or the Persian Gulf.

  • @lorgerdat
    @lorgerdat Місяць тому +13

    Meanwhile tech companies are ramping up energy consumption with more and more data centres being built to run all the AI stuff.

    • @HKim0072
      @HKim0072 Місяць тому +2

      Dude - we don't have power companies that run on crude. It's natty, coal, nuclear or renewable.

    • @5353Jumper
      @5353Jumper Місяць тому

      Yeah they are all the way up to 3% of the world's electricity use.
      Sure we also need to consider that most of the datacenter use is replacing office server rooms which would be less energy efficient than a data center.
      And all the travel that those technologies have avoided.
      And the improved efficiency they bring to other industries through all that fancy math.
      And that almost every laptop and PC in the world uses less electricity because most of the world's apps have had their processing moved to a data center.
      Maybe after considering all that your comment has a tiny spec of credibility, so we should continue our pressure on tech companies to be energy efficient in their future plans too.

  • @ChineseWinnie
    @ChineseWinnie Місяць тому +2

    LETS GOOOOO AMERICA

  • @dplacers
    @dplacers Місяць тому

    One of the things that is missing from these reports of tax subsidies is accounting for timing differences, which usually washes out, in future years, any tax advantage taken for accelerating the expensing of assets or development costs. In my opinion, reporting only permanent tax advantages as subsidies would be a lot more accurate, though, the absence of the so-called subsidies also have a negative economic cost that must be considered as well.

  • @BeingMe23
    @BeingMe23 Місяць тому +3

    Oil companies are heavily investing in renewable because the demand for oil is slowly going down.

    • @Wolfcamp555
      @Wolfcamp555 Місяць тому +2

      Demand isn't going away it's going away in the US , 50% of the total petroleum products in the US will be exported by 2030 and 80% of it's natural gas. Only the producing States will have petroleum.

  • @shwanflake
    @shwanflake Місяць тому

    With US supplying oil, it minimizes ARAMCO's monopoly of oil supply. A few years back ARAMCO dropped their prices which caused a lot of oil companies to close then when there's less players in the market, increased the prices again.

  • @GodKing804
    @GodKing804 Місяць тому +8

    We need that pipeline

    • @timogul
      @timogul Місяць тому +2

      The pipeline never has anything to do with US oil, it was from Canada to the gulf.

    • @romanval69
      @romanval69 Місяць тому +2

      That pipeline to send oil overseas? Why?

  • @richardpvancouver7520
    @richardpvancouver7520 Місяць тому

    we do need to keep oil prices low %95 of people still drive gas cars but subsidizing any corporation that makes billions in profit is crazy .

  • @alko_xo
    @alko_xo Місяць тому +10

    More oil, more guns, more national security, more democracy and freedom!

    • @Roq-stone
      @Roq-stone Місяць тому

      Hoooray!!!

    • @gfuah1499
      @gfuah1499 Місяць тому

      Yeah Murica!

    • @Aviator526
      @Aviator526 Місяць тому

      More Costco as well!

    • @alko_xo
      @alko_xo Місяць тому

      @@Aviator526 and Coca Cola Classic as well.

    • @donmarek7001
      @donmarek7001 Місяць тому

      Actually, we need to repeal women's suffrage followed by repealing the right to vote to tax eaters from the ghettos of America.

  • @harrybaulz666
    @harrybaulz666 Місяць тому +1

    Like rudy sed "drill baby drill"😅

  • @waywardgeologist2520
    @waywardgeologist2520 Місяць тому +5

    9:37 holy crap, that’s a ton of debt to leave our children. Criminal

    • @gilbertvehicleservices
      @gilbertvehicleservices Місяць тому +1

      @waywardgeologist2520 I interpret this as lost revenue, not taking on additional debt.

    • @reuven2010
      @reuven2010 Місяць тому

      @@gilbertvehicleservices renewables have good return on investment anyway, this is an investment not debt or lost revenue

  • @DemPilafian
    @DemPilafian Місяць тому +1

    The premise that pumping oil in the U.S. hurts the transition to clean renewable electricity is fundamentally flawed. Oil is a global commodity. OPEC (especially Saudi Arabia) has the ability to crash the oil market, but obviously they don't do that. Slashing oil production in the U.S. would simply send more revenue to OPEC. We need to focus on massively building out solar, wind, and storage, and we need to stop obsessing about oil production. In other words, Stop Oil activists are ignorant.

  • @ssssaa2
    @ssssaa2 Місяць тому +4

    Many people don't realize how screwed the US would have been if not for the shale revolution. We are living in a different world compared to if we produced ~3-4 million barrels of oil per day, and also only modest amounts of natural gas. And people think the economy now is bad. It would have been much, much worse, not to mention the geopolitical position of the US very poor indeed.

    • @fernandopimentel5463
      @fernandopimentel5463 Місяць тому

      The US would have stagnated like Japan. On the other hand Venezuela, Iran and Iraq would absolutely be booming.

    • @worldeconomicfella3228
      @worldeconomicfella3228 Місяць тому

      The US will always find oil. Don't worry about that. And if not, it would join the EU and China in finding alternative ways to fuel the economy.

    • @USACars-id3bf
      @USACars-id3bf Місяць тому +3

      Natural Gas is So Abundant that the U.S. burned it Off on regular Bases at all its factories. So much that they don't know what to do with it

    • @reuven2010
      @reuven2010 Місяць тому

      When and at worst case scenarios like this, there is always taking oil by force

  • @Get2ItTV
    @Get2ItTV Місяць тому +3

    All these electric cars, why is gas still so high?

    • @krysatheo
      @krysatheo Місяць тому +5

      Electric cars are a very small percentage of vehicles in the US currently.

    • @Get2ItTV
      @Get2ItTV Місяць тому

      @@krysatheo its a small percentage but it should still have gas prices trending down right.

    • @krysatheo
      @krysatheo Місяць тому +1

      @@Get2ItTV in a vacuum yes, but there have been some major events such as covid, the war in Ukraine and tensions in the Middle East that have more than made up for any benefits to the cost in recent times.

  • @kayzlazerbeam007
    @kayzlazerbeam007 Місяць тому +1

    This is crazy stupid piece on their explanation on subsidies and the huge issue of implicit subsidies that effect millions each year in worsening health locally and regionally and nationally

  • @mihadalzayat6957
    @mihadalzayat6957 Місяць тому +8

    We will not save this planet. I'm here to tell you this now.

    • @guymann4016
      @guymann4016 Місяць тому +1

      Yawn

    • @davidanalyst671
      @davidanalyst671 Місяць тому

      what are we savinng the planet from? your imaginary sky is falling theory? poor you. go move to guyana with the rest of your cult, but keep an eye out for koolaid.

    • @Fried52
      @Fried52 Місяць тому

      As George Carlin used to say the Planet will be just fine. Been through a whole lot more than us. We'll be gone but Mama Earth will be here cleaning up the mess we left.

  • @dogsbecute
    @dogsbecute Місяць тому

    if we are gonna give subsidies, we can subsidize training oil workers to transition to other industries, and subsidize big oil to actually invest in clean energy.

  • @noahflare6825
    @noahflare6825 Місяць тому

    To be fair to the US, their oil production has helped keep OPEC in check. But oil reserves can only last for so long. Renewable technology needs to be developed and ramped up to really lessen the influence of OPEC.

  • @thenerdnetwork
    @thenerdnetwork Місяць тому +14

    The solution to the "wind energy is nice when they when the wind is blowing" and "solar energy is nice when the sun is shining" is super simple. Pumped storage hydroelectricity. Whenever renewable energy has a surplus of power, pump water to an upper reservoir, then during off hours for renewables or peak hours simply release the water through penstocks and turbines to generate power. No need for batteries or additional transmission infrastructure.

    • @krysatheo
      @krysatheo Місяць тому +1

      Those are good, but they make the most sense in cooler climates where there's natural topography to build those reservoirs. I think we also need to look at nuclear, especially small modular reactors to help meet base load demands.

    • @frostystoneman3273
      @frostystoneman3273 Місяць тому +2

      Yes, we have a big pumped hydro reservoir in Niagara Falls. It's mechanically problematic and isnt cost effective atm.

    • @SteveLomas-k6k
      @SteveLomas-k6k Місяць тому +1

      we need SUSTAINABLE energy, i.e. energy production that can be sustained; when the sun goes down, the wind stops blowing and the subsidies dry up!

    • @KBergs
      @KBergs Місяць тому

      ​@@SteveLomas-k6kyou mean base load power? Nuclear is more than capable, but our leaders are weak willed and our population is full of pearl clutcher science illiterates.

    • @worldeconomicfella3228
      @worldeconomicfella3228 Місяць тому

      @krysatheo Well, people are working on alternatives. Here in the Netherlands for years we're looking for a way to implement hydropower in a flat country. There was a plan for an underground hydroelectric powerplant at an abandoned mine in Limburg province. However, that project never seriously left the design phase. However, now we've a new way store hydroelectric power at the bottom of the sea or at the bottom of lake. The company "Ocean Gazer" has come up with the "Ocean Battery". It's an enclosed system consisting of a pressurized water bag at the sea floor and a water tank under the soil. When the system is charged, the water from the tank is being pumped upwards into the water bag. The water bag is getting pressurized, but the pressure of the surrounding water outside of this enclosed system prevents the bag from exploding.
      It's ideal to have it installed among the windmills of an off-shore wind park and the first results are showing those water bags act like artificial reefs, improving local biodiversity of sea life. Looks quite promising to me and it solves a few issues like hydropower being damaging to the local environment setting everything underwater and blocking fish migration routes. It also solves the problem of hydropower needing mountains and it's storing the energy where it's generated without having to take into account things like evaporation, dry weather or downstream flooding. The water in that system is also clean. So no problems with mud. I'm not sureif they plan to use tap water/river quality water or cleaned sea water.

  • @callmebigpapa
    @callmebigpapa Місяць тому

    I researched the cost to convert entire world to solar panels and grid scale battery only:
    Solar panels: $1.43 trillion
    Grid-scale batteries: $6.85 trillion
    Transmission infrastructure: $2 trillion
    Maintenance and other: $2.46 trillion
    projected fuel savings over 10, 20, 50, and 100 years from switching the entire world to solar energy:
    10 years: ~$45 trillion
    20 years: ~$95 trillion
    50 years: ~$270 trillion
    100 years: ~$880 trillion

  • @madcow3417
    @madcow3417 Місяць тому

    FYI: Transport Evolved youtube channel just did a video on a very similar subject, "Who Gets More? Subsidies for EVs and Fossil Fuels".

  • @FInalage2012
    @FInalage2012 Місяць тому +11

    These radical environmentalist and apparently the IMF with their explicit and implicit subsidies, always look at the harm that oil brings but don’t look at the benefits. They say externalities of oil is $757 billion but what about the benefits of oil like the overall economy and productivity resulting from oil production and use? It has to be in the trillions of dollars!

    • @sarkaranish
      @sarkaranish Місяць тому

      Yep, the IMF just wants to stop drilling which is idiotic. We need to drill to beat our adversaries.

    • @xchopp
      @xchopp Місяць тому +1

      Yes, trillions of dollars, not like it's going to cost the Earth, is it? Oh, wait... (you must have been rooting for the business case for the asteroid in Don't Look Up?).

    • @Supertrooper697
      @Supertrooper697 Місяць тому +1

      Don’t think any of those benefits matter, if we make the Earth uninhabitable for humans.

    • @sarkaranish
      @sarkaranish Місяць тому

      @@Supertrooper697 Unlikely to happen with the transition to renewables and nuclear. We can pull out carbon from the atmosphere.

    • @fairalways
      @fairalways Місяць тому +1

      "These radical environmentalists"? As opposed to radical anti-environmentalists? I get so tired of reading shallow statements. How about we change the conversation to an actuarial analysis of risks and rewards of doing a variety of things, of drawing some transitional path to a "better" world? And what can we all agree is "better"?

  • @emilepierre1663
    @emilepierre1663 Місяць тому +1

    Energy companies make billions and gas prices still high. The rich gets richer..

  • @ashho313
    @ashho313 Місяць тому +3

    Country went from selling products to. Selling. Gas again

  • @asadbhuiyan5719
    @asadbhuiyan5719 Місяць тому +1

    God bless USA and respect,, 💐💐💐and Time is beauty.

  • @georgep7082
    @georgep7082 Місяць тому +6

    As much as I prefer green energy, I admire the oil industry's resilience and innovation, especially fracking technology.

    • @HKim0072
      @HKim0072 Місяць тому

      Saudis put a lot of US companies out of business in the mid-2010s by overpumping (intentionally).

    • @krysatheo
      @krysatheo Місяць тому

      You must love that flaming tap water eh?

    • @bunnyben5607
      @bunnyben5607 Місяць тому

      That's because "green energy" and fossil fuels are touted as equivalent, basically interchangeable. In reality green energy can't replace fossil fuels, and continuing to try to shoehorn it in will cause problems.

    • @marklavoine8502
      @marklavoine8502 Місяць тому

      If you have the money like 25+ thousand dollars for solar panels ok buy them but that much money can buy years of gas you have to be young to break even and the solar panels brake or degrades it takes oil to make solar panels.and thay fall every day

  • @RollinHomies
    @RollinHomies Місяць тому

    Amazing. Our country gave big oil tax incentives to increase production just so we could pay more at the pump… and pick up the tax incentive bill. Sad country

  • @truthprevails5760
    @truthprevails5760 Місяць тому +9

    CNBC: How The U.S. Is Pumping More Oil Than Any Country In History
    Me: Out of the land of Native American people?!

    • @NomenClature-o8s
      @NomenClature-o8s Місяць тому +6

      This land has changed hands more times than history records it. Sorry but in all of human history, the culture which is technologically more advanced wins.

    • @BigMike10960
      @BigMike10960 Місяць тому +3

      The natives were conquered fair and square

    • @oddfellow1114
      @oddfellow1114 Місяць тому +5

      May I also remind you of the fact that our Native American population in our motherland, the Continent of America before the European Colonizers arrived, was around 15 millions, while the European population in their motherland, the Continent of Europe was around 25 millions.
      Today, Native American population is 15 million, while the European population, in the Continents of America + Europe, is a staggering TWO BILLION! A shockingly sad truth. 😔
      In my humble opinion, it's about time to decolonize the Colonized lands, and return to rightful owners Native American people.
      Notorious global cardinal crimes the Christian West has committed, and benefited a great deal, such as Slavery & Colonialism had long been over, why on earth is notorious Colonization still lingering on, may I ask? 🤷

    • @truthprevails5760
      @truthprevails5760 Місяць тому +3

      @@oddfellow1114 My jaw dropped as I read Native American population in their motherland, the Continent of America before the European Colonizers arrived, was around 15 millions, while the European population in their motherland, the Continent of Europe was around 25 millions.
      Today, Native American population is 15 million, while the European population, in the Continents of America + Europe, is a staggering TWO BILLION.. It is a shocking sad truth. 😔

    • @truthprevails5760
      @truthprevails5760 Місяць тому +1

      I agree, it's about time to decolonize the Colonized lands, and return to rightful owners Native American people.
      True, notorious global cardinal crimes the Christian West has committed, and benefited a great deal, such as Slavery & Colonialism had long been over, why on earth is notorious Colonization still lingering on.

  • @pascalouellette8516
    @pascalouellette8516 Місяць тому

    Fossil fuel is required because renewables are actually unreliable and pollute just as much if not more from all the mining..,

  • @Ducotevision
    @Ducotevision Місяць тому +11

    Drill baby drill…..Trump2024

    • @romanval69
      @romanval69 Місяць тому

      And yet all this drilling happened during Biden....

    • @gmv0553
      @gmv0553 Місяць тому

      Spineless coward who has no respect for our constitution or democracy!

  • @tmharperjr
    @tmharperjr Місяць тому

    Lots of talk about renewables and when the sun doesn’t blow and the wind doesn’t shine but not a single mention of battery storage… 🤔

  • @conusx
    @conusx Місяць тому +11

    More oil is always good

    • @gmv0553
      @gmv0553 Місяць тому

      Too much oil drives the prices down! Oil was over $80 a barrel a couple months ago. Now in the 60s!

  • @doodsrem
    @doodsrem Місяць тому +1

    USA is always the winner in ever confict

  • @cleanenvironment8121
    @cleanenvironment8121 Місяць тому +23

    Drill baby drill ... i got rid of my EV ... happy days for here again

  • @jaggerdfletcher1618
    @jaggerdfletcher1618 Місяць тому

    God bless America🇺🇸