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Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:15 pm
by Binger
Doctor Steuss wrote: ↑Tue Jun 28, 2022 8:11 pm
The world is messy when medical ethics, economics, politics, global policy, international relations, philosophy, and history all have to come together in an attempt to do the most good while mitigating the most harm (both short term and long term). Theory, practicality, and reality sometimes come together like mint and citrus.
Fire-breathing dragons and red weddings look civilized by comparison.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:22 pm
by Binger
canpakes wrote: ↑Tue Jun 28, 2022 8:13 pm
Biden asks Saudi Arabia to increase oil production = Biden Bad, made oil prices go up!
Asking Saudi to accommodate the USA is normal.
Not knowing what OPEC can do, and getting caught on camera getting bossed by Macron, priceless.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:22 pm
by Res Ipsa
Binger wrote: ↑Tue Jun 28, 2022 7:08 pm
Res Ipsa wrote: ↑Tue Jun 28, 2022 4:27 pm
You don't understand supply and demand, do you?
I understand supply and demand very well, do you? I also understand corporate finance and capital project finance for the oilpatch with specific experience in oilfield services, exploration and production and refining, do you? I also understand the difference between drilling and producing, do you? I have been on many drilling rigs and on many offshore platforms. I have financed construction of jackups, semisubmersibles and drillships. The co-founder of my company was a CFO for two offshore drilling companies. I published an offshore drilling monthly with the data for every publicly owned offshore drilling rig in the world. So yeah, when someone who says "not drilling despite the high market price of oil" I get to laugh my ass off because of the absolute absurdity of the comment.
I have also worked closely with the seismic companies, onshore and offshore. As an investor, I have shorted them and been long the stocks. One of the factors in those investments is leaseholds, including expirations.
And, just for fun, I have also financed Boots & Coots. Have fun with that one. God bless John Wayne and Red Adair.
Regarding supply and demand... there is obviously more to it than the price at the pump or the price of crude. One must factor in strategic reserves being sold or replenished, futures, exploration costs, adjacent leases, shipping and transportation and trading risks that can bankrupt banks, funds and companies. Drilling is a small fraction of the capital requirements for exploration and drilling has a limited role in production. Drilling is a function of the exploration budget, not production. But, go on... I am listening.
Drilling is the driver for FUTURE production and it is the best statistical indicator which is why it is tracked so closely. It indicates what can and will happen way down the road. When we kill off capital projects and exploration it has little to no effect today. THAT is the straw man or red fish or whatever the hell you want to call it.
LOL. Nice bafflegab, but not responsive. The price elasticity of supply for today's onshore tight-oil wells is much greater than that of offshore wells. That you assume that what you know about the economics of offshore drilling applies to onshore tight-oil production shows that you don't actually understand supply and demand.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:26 pm
by Binger
Res Ipsa wrote: ↑Tue Jun 28, 2022 8:22 pm
LOL. Nice bafflegab, but not responsive. The price elasticity of supply for today's onshore tight-oil wells is much greater than that of offshore wells. That you assume that what you know about the economics of offshore drilling applies to onshore tight-oil production shows that you don't actually understand supply and demand.
That is effing hysterical. mmmmmmmkay Res. Go ahead. Play the man again and then teach us. This is rich and awesome. Because offshore and offshore have different economics, that means I don't understand either and that means that cancelling capital projects because of feelings and favors is okay. Gotchya buddy. Go on. Fill us in on the economics.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:30 pm
by canpakes
Binger wrote: ↑Tue Jun 28, 2022 8:22 pm
canpakes wrote: ↑Tue Jun 28, 2022 8:13 pm
Biden asks Saudi Arabia to increase oil production = Biden Bad, made oil prices go up!
Asking Saudi to accommodate the USA is normal.
Not knowing what OPEC can do, and getting caught on camera getting bossed by Macron, priceless.
No worries, given that both asked the Saudis about oil production, and given the numerous instances of Trump being snubbed by an international leader. I don’t see that Biden needs to worry about eclipsing Trump’s record in being snubbed.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:36 pm
by Hawkeye
Ajax, just face the facts. Your boy was in power when COVID happened and he screwed the proverbial pooch every way imaginable. It is an indisputable fact that he is the reason Saudi Arabia slashed production dramatically, creating massive supply shortages for the recovery. You've never once addressed any of these points, but just keep regurgitating idiotic right wing talking points about "gubment regulayshuns." I've already proven this is false.
Under which sock puppet? Your side destroyed the economy in an effort to get rid of Trump.
The reason oil companies aren't producing as much as they could is because they're still trying to make up ground for all the money they lost when Trump was President.
I thought you said Trump was colluding with the oil companies to enrich himself.
Hell, I even provided a survey of oil executives who overwhelmingly stated the reason was because of this and nothing to do with regulations. That's just a popular talking point because it is easily absorbed by simple minds who can't think dimensionally.
Hell,, You're an idiot... Yeah, you couldn't stay hidden very long.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:38 pm
by canpakes
Res Ipsa wrote: ↑Tue Jun 28, 2022 8:22 pm
Binger wrote: ↑Tue Jun 28, 2022 7:08 pm
I have also financed Boots & Coots.
LOL. Nice bafflegab, …
History:
Boots & Coots is a well control company. It was founded in 1978 by Asger "Boots" Hansen and Ed "Coots" Matthews (note: both are long dead).
In 1997, the company was purchased by International Well Control, the successor of the Red Adair Company.
On April 9, 2010, it was announced that Halliburton would acquire Boots and Coots for $3 per share.
I wonder if an investor owning 10 shares could be defined as having ‘financed’ that deal.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:41 pm
by Binger
canpakes wrote: ↑Tue Jun 28, 2022 8:38 pm
In 1997, the company was purchased by International Well Control, the successor of the Red Adair Company.
That one.
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 8:42 pm
by canpakes
Binger wrote: ↑Tue Jun 28, 2022 8:26 pm
That is effing hysterical. mmmmmmmkay Res. Go ahead. Play the man again and then teach us. This is rich and awesome. Because
offshore and offshore have different economics, that means I don't understand either and that means that cancelling capital projects because of feelings and favors is okay. Gotchya buddy. Go on. Fill us in on the economics.
Wait. You first. Please tell us the difference between ‘offshore and offshore’ economics.
OK, just having fun with an obvious typo. : )
Re: Macron is not dumb. This is BAD!
Posted: Tue Jun 28, 2022 9:06 pm
by Vēritās
Binger wrote: ↑Tue Jun 28, 2022 8:22 pm
canpakes wrote: ↑Tue Jun 28, 2022 8:13 pm
Biden asks Saudi Arabia to increase oil production = Biden Bad, made oil prices go up!
Asking Saudi to accommodate the USA is normal.
Not knowing what OPEC can do, and getting caught on camera getting bossed by Macron, priceless.
You're probably the only person on the planet who thinks this is "getting bossed." Good grief. Seriously? I mean, THAT'S what you were getting at?