Still think TITNC3: Return of the Iceberg was peak

Thatsmyfetish.jpg

 

The world is selling.

 

God damn, that's a spicy meatball

 

I'm not sure what you mean by 'goal'. The point is that without more refining capacity (not higher utilization of existing capacity, which is already high) getting more crude online won't help alleviate the gasoline market's tightness.

 

*warms up the Buy-a-Tron*

 

RED TIDE

 

I mean whats the goal of these idiots at FERC not allowing expansion on existing refineries or new permits. They're crippling our country and setting us up for a catastrophe. Without a doubt they know that not allowing new permits is driving these cost up. I cant imagine they think its ok that our refineries are running at 95% capacity as is. With one of the larger ones planning to shut down in the next year you would think they would begin the process of opening new permits so we don't end up in a position where all of our refineries are running 100% 24/7

 

Two limits in on SPYD, ready to catch the falling knife twice there and then wait and watch.

BND is appealing at price per share, but I think it's going down more as rates rise and current potential returns even with face value appreciation are barely above inflation....if they happen. Not moving into that until inflation shows a trend of abating or the 2Y treasury is yielding 5%.

 

I don't think you know what FERC is or does. They don't have anything to do with refineries. From ferc.gov/oil: "FERC has no jurisdiction over construction or maintenance of production wells, oil pipelines, refineries, or storage facilities."

As I mentioned before there were 4 refineries shut down during covid due to low demand. Getting those up and running again wouldn't require any permitting and would take far less time than standing up a new facility. This is the will of the oil majors' boards and shareholders. Why spend your profits on expansions when you think the period of high demand will be (relatively) short lived and you can rake in bumper profits in the mean time?

 

Didn’t see “oil” mentioned in his post. FERC does have a hand in natural gas regulations however.
https://www.ferc.gov/natural-gas

Also here is API’s side of things. To present the other side of your opinion lol.

https://www.api.org/news-policy-and...ould-match-reassuring-words-on-ukraine-crisis

 

What exactly do you think the "refineries" he asked about are refining? Hint: it's oil.

Sure man there are bound to be many opinions, some of the more factually based than others, when it comes to an issue as complex as the global energy system. I'm not asserting myself as a definitive voice but this is what I do for a living. I would suggest not getting crucial information about a subject from that subject's trade group. The whole reason my agency exists is because there were no neutral arbiters of energy data in the US during the Arab Oil Embargo and Congress was forced to rely on API data.

 

In the interest of full disclosure, do you work for the government or a corporate entity?
I’ll go first.
I’m an engineer in the electric power industry. primarily nuclear but have also worked hydro and fossil in the past.

 

I work for EIA. We are the neutral arbiters of energy statistics and analysis for the government. And to be clear I do not trade any energy products or firms as it would represent a conflict of interest.

 

I do hope EIA, being a government entity is indeed neutral in regards to the information. You’re inside so you should know, but I wouldn’t rule out influences at the top levels knowing how things are lol.

 

You could say that for DOE, EPA, FERC, and perhaps others, but not EIA. It's literally the basis of our charter and founding principles. The agency is respected by both political parties for our independence and neutral language in all of our publications. We never advocate for any policy, fuel, technology, or anything else that could unduly affect the energy world. If you're curious I'm sure what I'm saying is easy enough to verify.

 

you’re right, I thought they had a role in the process of getting permits approved.

 

I’ve seen EIA data and concur what I’ve looked at appears to be unbiased.

Edit: But your opinions as expressed in your posts are not. lol

 

@skeletron I updated my comment above, you may wish to unlike lol

 

Oh yeah any forum comments are definitely my own and in no way represent an EIA position. The editorial process for any published document at work is excruciating but it's all to make sure we strictly adhere to the neutral language policies.