It's gonna be a long winter...

[John Mercier]

Originally Posted by joey2665

I call BS. In this case the election had everything to do with it. You cannot defend the current administration or blame the prior for this mess.


Sent from my iPhone using Winnipesaukee Forum mobile app

It has nothing to do with either.
Production and demand are a part of the private sector capitalism.
When demand outstrips supply, prices rise until demand and supply come back into balance.

Capitalism - not politics - reigns supreme.

[tummyman]

Originally Posted by John Mercier

It has nothing to do with either.
Production and demand are a part of the private sector capitalism.
When demand outstrips supply, prices rise until demand and supply come back into balance.

Capitalism - not politics - reigns supreme.

Sure, it is supply / demand. Always will be. But the last election saw reduction /elimination of fracking, cancellation of Keystone pipeline, closing of Anwar, etc. etc, all driven by the current occupant of the White House and his Green New Deal advocates. Look back BEFORE the pandemic. Demand was super high then and no problem with prices at all. Now we have super inflation, supply chain issues everywhere, and all the DC politicians want to do is spend trillions of dollars and run for the hills. Saying coming out of the pandemic is driving demand is just speaking the DC talking points. Saying politics isn't in the mix is pure BS in my opinion, narrow as you may think it is !

[John Mercier]

Originally Posted by tummyman

Sure, it is supply / demand. Always will be. But the last election saw reduction /elimination of fracking, cancellation of Keystone pipeline, closing of Anwar, etc. etc, all driven by the current occupant of the White House and his Green New Deal advocates. Look back BEFORE the pandemic. Demand was super high then and no problem with prices at all. Now we have super inflation, supply chain issues everywhere, and all the DC politicians want to do is spend trillions of dollars and run for the hills. Saying coming out of the pandemic is driving demand is just speaking the DC talking points. Saying politics isn't in the mix is pure BS in my opinion, narrow as you may think it is !

Well since the supply is still rising all you are listing is not having any effect.
Prior to covid the wells were operating at full production of 13M/day for crude, during covid - when President Trump was still in office - demand fell dramatically and wells were shutdown. The prediction is US production of crude will return to the 13M/day in 2023. I don't use DC numbers, I use the same numbers that the capital markets use.
We currently product as much natural gas as we did before and during covid, but exports have increased as demand from Europe means producers get higher prices.

But if you believe what your saying... go long on crude futures.