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

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  • Опубліковано 21 лис 2024

КОМЕНТАРІ • 1,6 тис.

  • @Bryghtpath
    @Bryghtpath 2 місяці тому +270

    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 2 місяці тому

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

    • @LordGadwin
      @LordGadwin 2 місяці тому +20

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

    • @PatrickVieira-d3s
      @PatrickVieira-d3s 2 місяці тому +4

      Stolen Síria and irak

    • @xandror
      @xandror 2 місяці тому +4

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

    • @francismarion6400
      @francismarion6400 2 місяці тому +1

      @@Bryghtpath Despite the government.

  • @ZiggyBoon
    @ZiggyBoon 2 місяці тому +540

    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 2 місяці тому +17

      Slava TSMC 🇹🇼

    • @johnnyq4260
      @johnnyq4260 2 місяці тому

      LOL those European suckers.

    • @sarkaranish
      @sarkaranish 2 місяці 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 2 місяці 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 2 місяці тому +46

      The biggest loser in this situation is Europe itself

  • @Sumtoshi
    @Sumtoshi 2 місяці тому +485

    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 2 місяці тому +33

      plastics and fabrics are a huge one.

    • @Hiiamsamm
      @Hiiamsamm 2 місяці тому +17

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

    • @RK-cj4oc
      @RK-cj4oc 2 місяці тому +38

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

    • @GoronCityOfficialBoneyard
      @GoronCityOfficialBoneyard 2 місяці тому +35

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

    • @maynotbe
      @maynotbe 2 місяці тому

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

  • @RoobieRhoo
    @RoobieRhoo 2 місяці тому +39

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

  • @MyLifeOfficial
    @MyLifeOfficial 2 місяці тому +9

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

    • @123works
      @123works 2 місяці тому +3

      no politics, no propaganda, simply FACTS

  • @brandino97yyc
    @brandino97yyc 2 місяці тому +229

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

    • @peraltaisrael2598
      @peraltaisrael2598 2 місяці тому

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

    • @timothykeith1367
      @timothykeith1367 2 місяці тому +42

      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 2 місяці тому +20

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

    • @VickyYadav-qj6kv
      @VickyYadav-qj6kv 2 місяці тому

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

    • @Roq-stone
      @Roq-stone 2 місяці тому +19

      Wierd = hypocritical?

  • @danthonylynch4541
    @danthonylynch4541 2 місяці тому +88

    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 2 місяці 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 2 місяці тому +2

      @@Demopans5990 I appreciate that knowledge!💯

    • @danthonylynch4541
      @danthonylynch4541 2 місяці 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 2 місяці 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 2 місяці 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.

  • @romneyhugo
    @romneyhugo 2 місяці тому +461

    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 2 місяці тому +1

      Biden is worst thing that happened to us

    • @belljoe
      @belljoe 2 місяці тому +12

      TRUMP 2024

    • @dawsondanny990
      @dawsondanny990 2 місяці тому +6

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      @smithlenn 2 місяці тому +1

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      @dawsondanny990 2 місяці тому +4

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  • @thomasr7129
    @thomasr7129 2 місяці тому +20

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

    • @ryanehlis426
      @ryanehlis426 2 місяці тому

      Lol 😂 Ugg you buying the climate scam?

  • @Justan669
    @Justan669 2 місяці тому +149

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

    • @Desperate-Drive3423
      @Desperate-Drive3423 2 місяці 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 2 місяці 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 2 місяці 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 2 місяці 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 2 місяці 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.

  • @Chris.y.0199
    @Chris.y.0199 2 місяці тому +66

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

    • @mustang131radio
      @mustang131radio 2 місяці тому +7

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

    • @ctgottapee9020
      @ctgottapee9020 2 місяці 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 2 місяці 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 2 місяці тому +4

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

    • @sender5804
      @sender5804 2 місяці тому

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

  • @migueralliart
    @migueralliart Місяць тому +3

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

  • @W-H-O
    @W-H-O 2 місяці тому +60

    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 2 місяці 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 2 місяці 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 2 місяці тому +3

      @@time2fly2124 nuclear plants can theoretically last 80 years

    • @ctgottapee9020
      @ctgottapee9020 2 місяці 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 2 місяці 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 2 місяці тому +140

    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 2 місяці тому +18

      Yup. Thank you USA. May you be blessed.

    • @joseaguirre744
      @joseaguirre744 2 місяці тому +11

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

    • @MRWaGa-tc1oi
      @MRWaGa-tc1oi 2 місяці тому +1

      yes 100%

    • @volkerengels5298
      @volkerengels5298 2 місяці тому

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

    • @hugolizard
      @hugolizard 2 місяці 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…

  • @spartan662501
    @spartan662501 2 місяці 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 2 місяці 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 2 місяці тому +16

      You mean something like Alaska Permanent Fund?

    • @alexlerwill344
      @alexlerwill344 2 місяці 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 2 місяці тому +2

      @@alexlerwill344 that's called georgism

    • @basvriese1934
      @basvriese1934 2 місяці 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

  • @darylb5564
    @darylb5564 2 місяці тому +27

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

    • @MetaTaco317
      @MetaTaco317 2 місяці 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 2 місяці 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

  • @NikolaStamenkovic6
    @NikolaStamenkovic6 2 місяці тому +49

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

    • @elcaciquedev
      @elcaciquedev 2 місяці 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 2 місяці 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 2 місяці тому

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

    • @Fried52
      @Fried52 2 місяці 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 2 місяці 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.

  • @harveysanchez6993
    @harveysanchez6993 2 місяці тому +187

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

    • @hammerdown3876
      @hammerdown3876 2 місяці 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 2 місяці тому

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

    • @francismarion6400
      @francismarion6400 2 місяці тому +32

      more than we could ever use.

    • @junbun3642
      @junbun3642 2 місяці тому +7

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

    • @G-Man-half-life
      @G-Man-half-life 2 місяці тому

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

  • @tysontman87
    @tysontman87 2 місяці тому +45

    We need refineries.......

    • @allenaxp6259
      @allenaxp6259 2 місяці тому +5

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    • @TheSmark666
      @TheSmark666 2 місяці 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 2 місяці тому

      Create more jobs. Good for USA

  • @nickfromm9492
    @nickfromm9492 2 місяці тому +4

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

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    @McClelland-i7b 2 місяці тому +15

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  • @dlewis8405
    @dlewis8405 2 місяці 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 2 місяці 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 2 місяці 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 2 місяці 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 2 місяці 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 2 місяці 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.

  • @USACars-id3bf
    @USACars-id3bf 2 місяці тому +35

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

    • @stephaniehernandez7209
      @stephaniehernandez7209 2 місяці тому +4

      gas is too cheap

    • @jasonhas7456
      @jasonhas7456 2 місяці тому +5

      @@stephaniehernandez7209 No

    • @stephaniehernandez7209
      @stephaniehernandez7209 2 місяці тому +1

      @@jasonhas7456 yes

    • @bunta69
      @bunta69 2 місяці тому

      @@jasonhas7456 yes you're just poor

    • @michaelcavalier8750
      @michaelcavalier8750 2 місяці 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

  • @krunalpatel4884
    @krunalpatel4884 2 місяці тому +27

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

    • @heronimousbrapson863
      @heronimousbrapson863 2 місяці тому +5

      Calling it by a different name will change nothing.

    • @Kevin-438
      @Kevin-438 2 місяці тому

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

    • @Roq-stone
      @Roq-stone 2 місяці тому

      MMmm, sounds much greener for real.

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

      @@heronimousbrapson863wrong. It changes public perception.

    • @ZeinGold
      @ZeinGold 2 місяці тому

      I will still call it natural gas

  • @JalapenoSteve
    @JalapenoSteve 2 місяці тому +6

    Yep we're still in the oil age.

    • @wiln6854
      @wiln6854 2 місяці 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.

  • @punimarudogaman
    @punimarudogaman 2 місяці тому +3

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

  • @jrstsb1353
    @jrstsb1353 2 місяці тому +4

    Sprinting in a marathon, not going to last.

  • @Roberto-dm8xl
    @Roberto-dm8xl 2 місяці тому +2

    BRICKS 2024🎉🎉🎉

  • @caleba411
    @caleba411 2 місяці тому +30

    The oil companies are price gouging!!!!

    • @ronaldpoole3273
      @ronaldpoole3273 2 місяці тому +5

      Straight from the Marxist playbook

    • @custos3249
      @custos3249 2 місяці тому +9

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

    • @ronaldpoole3273
      @ronaldpoole3273 2 місяці тому +1

      @@custos3249 and you just admitted you are a Marxist

    • @custos3249
      @custos3249 2 місяці тому +4

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

    • @jamesthomas6611
      @jamesthomas6611 2 місяці тому

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

  • @egeemaru7289
    @egeemaru7289 2 місяці тому +2

    The gas lighting is strong in this video.

  • @lembafranck3490
    @lembafranck3490 2 місяці тому +12

    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 2 місяці 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 2 місяці 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 2 місяці тому

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

    • @patricialongo5870
      @patricialongo5870 2 місяці тому

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

    • @stickyoxtail
      @stickyoxtail 2 місяці тому +2

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

  • @jimysk8er
    @jimysk8er 2 місяці 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.

  • @gregspecht3706
    @gregspecht3706 2 місяці 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 2 місяці тому

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

    • @ctgottapee9020
      @ctgottapee9020 2 місяці 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 2 місяці 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 2 місяці 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.

  • @jebbo-c1l
    @jebbo-c1l Місяць тому +1

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

  • @waywardgeologist2520
    @waywardgeologist2520 2 місяці тому +22

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

    • @seanthe100
      @seanthe100 2 місяці тому +1

      Math is way off

    • @waywardgeologist2520
      @waywardgeologist2520 2 місяці 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 2 місяці тому

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

  • @_Bucky
    @_Bucky 2 місяці тому +8

    Seems America is making massive gains in non taxed finances

  • @kcchong5661
    @kcchong5661 2 місяці тому +18

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

    • @davidanalyst671
      @davidanalyst671 2 місяці 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 2 місяці 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 2 місяці тому +1

      @@peakz8548 tell it to the EU citizens.

    • @SK-lt1so
      @SK-lt1so 2 місяці тому

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

    • @seanthe100
      @seanthe100 2 місяці тому +1

      We appreciate y'all business

  • @MarinaKosheleva-y6s
    @MarinaKosheleva-y6s 2 місяці 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

  • @Stefch2
    @Stefch2 2 місяці тому +24

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

    • @guymann4016
      @guymann4016 2 місяці тому +3

      Yawn

    • @AR-mc8mn
      @AR-mc8mn 2 місяці 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 2 місяці 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.

  • @AR-mc8mn
    @AR-mc8mn 2 місяці 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 2 місяці 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.

  • @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 .

  • @JCJW101
    @JCJW101 2 місяці 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 2 місяці тому +1

      😂😂😂😂😂😂 oh wow

    • @supa3ek
      @supa3ek 2 місяці тому

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

    • @hamishfullerton7309
      @hamishfullerton7309 2 місяці 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 2 місяці тому

      😂 y’all are getting finessed

  • @rickboer7715
    @rickboer7715 Місяць тому +1

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

  • @Akira282
    @Akira282 2 місяці 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 2 місяці 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 2 місяці тому

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

    • @jimthain8777
      @jimthain8777 2 місяці 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.

  • @HeriveltoPereiraDuarte
    @HeriveltoPereiraDuarte 2 місяці тому

    This channel is awsome!

  • @higreentj
    @higreentj 2 місяці тому +6

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

  • @colinfitzgerald4332
    @colinfitzgerald4332 2 місяці 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.

  • @alaaa1794
    @alaaa1794 Місяць тому +1

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

  • @nulnoh219
    @nulnoh219 2 місяці 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.

  • @ronaldpoole3273
    @ronaldpoole3273 2 місяці тому +2

    Oil will always be necessary. Deal with it!

  • @dan4346
    @dan4346 2 місяці тому +21

    Stop trying to debunk MAGA lies with basic verifiable facts.

  • @deebil8099
    @deebil8099 2 місяці тому

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

  • @BeingMe23
    @BeingMe23 2 місяці тому +3

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

    • @Wolfcamp555
      @Wolfcamp555 2 місяці 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.

  • @lilianewalter827
    @lilianewalter827 2 місяці тому

    This is Nice, brother

  • @HKim0072
    @HKim0072 2 місяці тому +51

    USA! USA! USA!

    • @truthprevails5760
      @truthprevails5760 2 місяці тому +1

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

    • @KamBar2020
      @KamBar2020 2 місяці тому

      Slava TSMC 🇹🇼 Heroyam TAIWANese 🦾

    • @ecognitio9605
      @ecognitio9605 2 місяці тому

      You're seeing none of that money 😂

    • @HKim0072
      @HKim0072 2 місяці тому

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

    • @AmericanAmish
      @AmericanAmish 2 місяці тому +2

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

  • @uclamordsith
    @uclamordsith 2 місяці тому +2

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

    • @oakley5
      @oakley5 19 днів тому

      The revenue that the government makes off of leasing far outweighs the subsidies.

  • @effervescent_smegma-s1w
    @effervescent_smegma-s1w 2 місяці тому +14

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

    • @xiaoka
      @xiaoka 2 місяці тому

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

    • @PistonAvatarGuy
      @PistonAvatarGuy 2 місяці тому

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

  • @kayzlazerbeam007
    @kayzlazerbeam007 Місяць тому +2

    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

  • @ssssaa2
    @ssssaa2 2 місяці 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 2 місяці тому

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

    • @NederlandsTransatlanticus
      @NederlandsTransatlanticus 2 місяці 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 2 місяці 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 2 місяці тому

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

  • @jimysk8er
    @jimysk8er 2 місяці 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.

  • @Lords1997
    @Lords1997 2 місяці тому +4

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

    • @wiln6854
      @wiln6854 2 місяці тому

      or use excess energy to produce H2

    • @ryanehlis426
      @ryanehlis426 2 місяці тому

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

  • @joeyboedeker2047
    @joeyboedeker2047 2 місяці тому +1

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

  • @lorgerdat
    @lorgerdat 2 місяці 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 2 місяці тому +2

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

    • @5353Jumper
      @5353Jumper 2 місяці 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.

  • @shwanflake
    @shwanflake 2 місяці 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.

  • @alko_xo
    @alko_xo 2 місяці тому +10

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

    • @Roq-stone
      @Roq-stone 2 місяці тому

      Hoooray!!!

    • @gfuah1499
      @gfuah1499 2 місяці тому

      Yeah Murica!

    • @Aviator526
      @Aviator526 2 місяці тому

      More Costco as well!

    • @alko_xo
      @alko_xo 2 місяці тому

      @@Aviator526 and Coca Cola Classic as well.

    • @donmarek7001
      @donmarek7001 2 місяці тому

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

  • @RosscoAW
    @RosscoAW 2 місяці тому

    Because the US wants to be remembered in the 21st century the same way we think about Imperial Britain in the 20th century.

    • @PistonAvatarGuy
      @PistonAvatarGuy 2 місяці тому

      China burns more coal than the rest of the world combined, so it's not like we're the main villains of the current era.

    • @lembafranck3490
      @lembafranck3490 2 місяці тому

      The 20th century was already american not british

  • @GodKing804
    @GodKing804 2 місяці тому +9

    We need that pipeline

    • @timogul
      @timogul 2 місяці тому +2

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

    • @romanval69
      @romanval69 2 місяці тому +2

      That pipeline to send oil overseas? Why?

  • @KseniyaTrofimova-lw6zl
    @KseniyaTrofimova-lw6zl 2 місяці 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

  • @RollinHomies
    @RollinHomies 2 місяці 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

  • @georgep7082
    @georgep7082 2 місяці тому +6

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

    • @HKim0072
      @HKim0072 2 місяці тому

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

    • @krysatheo
      @krysatheo 2 місяці тому

      You must love that flaming tap water eh?

    • @bunnyben5607
      @bunnyben5607 2 місяці 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 2 місяці 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

  • @fredkraus9180
    @fredkraus9180 2 місяці тому +1

    Stop calling them " fossil fuels "

  • @cleanenvironment8121
    @cleanenvironment8121 2 місяці тому +23

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

  • @suwaebuceesay9954
    @suwaebuceesay9954 2 місяці тому +1

    Gods put everything on here for us to survive as long as we’re here.. He chose earth for us for a reason..

  • @sid1290
    @sid1290 2 місяці тому +8

    Thank you USA, for stabilizing world oil prices. My country which imports most of the oil, which would have been very expensive if not for US record production. May you be blessed 😇.

  • @doodsrem
    @doodsrem 2 місяці тому +1

    USA is always the winner in ever confict

  • @suunraze
    @suunraze 2 місяці 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 2 місяці тому +1

      What do you mean ?

    • @Joe-ul3gh
      @Joe-ul3gh 2 місяці 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 2 місяці тому +18

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

    • @andreiivanov7553
      @andreiivanov7553 2 місяці тому +2

      Electrical cars made ouof oil based materials

    • @frostystoneman3273
      @frostystoneman3273 2 місяці 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.

  • @callmebigpapa
    @callmebigpapa 2 місяці 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

  • @FavioCortez-u9m
    @FavioCortez-u9m Місяць тому

    Why don't they work on investing money in cash, electronic money, and thus always have money to spend? Fuel is essential, but if in 2013 the United States did not use much oil, why in 2023 will it have risen to more than Saudi Arabia and Russia?

  • @mihadalzayat6957
    @mihadalzayat6957 2 місяці тому +8

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

    • @guymann4016
      @guymann4016 2 місяці тому +1

      Yawn

    • @davidanalyst671
      @davidanalyst671 2 місяці 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 2 місяці 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.

  • @everythingisfine9988
    @everythingisfine9988 2 місяці 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 2 місяці 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 2 місяці 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.

  • @effervescent_smegma-s1w
    @effervescent_smegma-s1w 2 місяці тому +7

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

  • @pascalouellette8516
    @pascalouellette8516 2 місяці тому

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

  • @waywardgeologist2520
    @waywardgeologist2520 2 місяці тому +5

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

    • @gilbertvehicleservices
      @gilbertvehicleservices 2 місяці тому +1

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

    • @reuven2010
      @reuven2010 2 місяці тому

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

  • @emilepierre1663
    @emilepierre1663 2 місяці тому +1

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

  • @thenerdnetwork
    @thenerdnetwork 2 місяці 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 2 місяці 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 2 місяці 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 2 місяці 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 2 місяці 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.

    • @NederlandsTransatlanticus
      @NederlandsTransatlanticus 2 місяці 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.

  • @7megaphone
    @7megaphone Місяць тому

    Interesting and very informative

  • @dogsbecute
    @dogsbecute 2 місяці 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.

  • @Fried52
    @Fried52 2 місяці тому +4

    Just a heads up. Whoever is moderating this page seems to be biased to not giving Biden credit for anything he's accomplished.

  • @ChineseWinnie
    @ChineseWinnie 2 місяці тому +2

    LETS GOOOOO AMERICA

  • @FInalage2012
    @FInalage2012 2 місяці 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 2 місяці тому

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

    • @xchopp
      @xchopp 2 місяці 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 2 місяці тому +1

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

    • @sarkaranish
      @sarkaranish 2 місяці тому

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

    • @fairalways
      @fairalways 2 місяці 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"?

  • @asadbhuiyan5719
    @asadbhuiyan5719 2 місяці тому +1

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

  • @randomguy7175
    @randomguy7175 2 місяці тому +25

    USA is global leader when it comes to dealing with Global warming 😅

    • @JigilJigil
      @JigilJigil 2 місяці тому +4

      We have the global leader China that dwarfs US when it comes to carbon emmision, China is accounted for one-third of global electricity consumption and 60% of that comes from buring coal.

    • @nishant_bhardwaj
      @nishant_bhardwaj 2 місяці тому +7

      ​@@JigilJigilwho is consuming the products made in china?
      Who is the cumulative biggest emitter since Industrial revolution?

    • @TorukMaktoDracarys
      @TorukMaktoDracarys 2 місяці тому

      Are you sure, how much of a roll does natural carbon sequestration have❓Do you know for sure it's not Geomagnetic Reversal, & if it is Geomagnetic Reversal how does what we have done help at ALL moving forward❓🤔

    • @fluxcapacitor1621
      @fluxcapacitor1621 2 місяці тому

      @@JigilJigil Stop lying. The US far exceeds China in per capita emissions. They don't drive with one person in giant SUVs. The US has always been a leader in climate change.

    • @yuanruichen2564
      @yuanruichen2564 2 місяці тому

      the leader of causing global warming

  • @ashho313
    @ashho313 2 місяці тому +3

    Country went from selling products to. Selling. Gas again

  • @jaggerdfletcher1618
    @jaggerdfletcher1618 2 місяці тому

    God bless America🇺🇸

  • @conusx
    @conusx 2 місяці тому +11

    More oil is always good

    • @gmv0553
      @gmv0553 2 місяці тому

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

  • @BeingMe23
    @BeingMe23 2 місяці тому

    The demand for oil is slowly going down due to EV

  • @Get2ItTV
    @Get2ItTV 2 місяці тому +3

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

    • @krysatheo
      @krysatheo 2 місяці тому +5

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

    • @Get2ItTV
      @Get2ItTV 2 місяці тому

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

    • @krysatheo
      @krysatheo 2 місяці 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.

  • @fatherof4kids
    @fatherof4kids 2 місяці тому +4

    Then why did prices immediately go up when this current administration took office. I CALL BS.

    • @TheDustyShed
      @TheDustyShed 2 місяці тому +1

      Companies were preparing for the administration to keep campaign promises.

  • @vms_kt
    @vms_kt 2 місяці тому

    If the most powerful country in the world is struggling this way to keep climate calamity under control then there is little hope for the rest of the world.