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File: 50osu0.jpg (86 KB, 800x450)
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The White House has been speaking with U.S. oil and gas producers in recent days about helping to bring down rising fuel costs, according to two sources familiar with the matter.

Energy costs are rising worldwide, in some cases leading to shortages in major economies like China and India. In the United States, the average retail cost of a gallon of gas is at a seven-year high, and winter fuel costs are expected to surge, according to the U.S. Energy Department. Oil-and-gas production remains below the nation’s peak reached in 2019.

The talks with energy companies touched on several issues, including prices, according to a third person familiar with the discussions. The administration has been in discussions with the oil industry over limiting methane emissions in recent months.

“We are closely monitoring the cost of oil and the cost of gas Americans are paying at the pump. And we are using every tool at our disposal to address anti-competitive practices in U.S. and global energy markets to ensure reliable and stable energy markets,” a White House official said.

U.S. crude oil recently hit $80 a barrel for the first time in seven years, as the Organization of the Petroleum Exporting Countries and their allies known as OPEC+ restrict output. The White House has discussed rising prices with top OPEC producer Saudi Arabia in recent weeks.

https://www.reuters.com/article/usa-biden-oil-prices/white-house-asks-u-s-oil-and-gas-companies-to-help-lower-fuel-costs-sources-idUSKBN2H31VQ
>>
The average retail price of a gallon of gasoline has risen to $3.29, according to AAA figures. The U.S. Energy Department said on Wednesday that household heating costs are expected to rise dramatically this winter for all fuels, but particularly for heating oil and propane. [nL1N2R916Z]

U.S. oil production has been slow to rebound from 2020, when output dropped during the coronavirus outbreak. Production hit a record of nearly 13 million barrels per day (bpd) in late 2019, but the U.S. Energy Department said Wednesday that output will only average 11 million bpd in 2021, rising to 11.7 million bpd in 2022.

Natural gas prices are up sharply this year, the result of supply shortages and stronger-than-expected demand in Europe and Asia.

U.S. shale producers, who are responsible for the boom in crude oil output in the last 10 years, have been less willing to drill for more oil after years of weak financial performance, and have instead focused on cutting spending to boost returns for investors.

It can take six months to drill and complete a new well and bring the oil and gas to market. Any call by the White House for an increase in U.S. production is likely to fall on deaf ears, according to one oil executive, who did not want to be identified criticizing the approach. The industry has also been unhappy with some of President Joe Biden’s earlier actions, including a temporary drilling halt on federal lands, that they see as an attack on the industry.
>>
“By pursuing policies that restrict supply and make it harder to produce oil and natural gas here in America, Americans will have to pay more for their energy,” said Anne Bradbury, chief executive officer at the American Exploration and Production Council, which lobbies for independent oil-and-gas producers.

Biden’s administration has been conducting internal discussions about rising fuel costs, one of the two sources added.

The United States has so far been insulated from natural gas fuel shortages seen in Asia and Europe, analysts said, because of the nation’s limited ability to export liquefied natural gas. U.S. benchmark natural gas prices are currently $5.68 per million British thermal units - but prices overseas have been in the $30s.

“I don’t think the fundamentals back those supersized numbers,” said Robert Yawger, director of energy futures at Mizuho.

The White House has been trying to tackle supply bottlenecks that have boosted the price of various goods, from meat to semiconductors. Officials said Wednesday that the administration has been working with major ports in Los Angeles and Long Beach, along with shipping giants UPS and FedEx, to alleviate congestion slowing deliveries.
>>
>>944572
>The White House has been speaking with U.S. oil and gas producers in recent days about helping to bring down rising fuel costs
Hahahaha
>>
>>944572
And they want the IRS to be able to look at every bank account with more than 600$...
Dont forget meanwhile the bidens/hunter makes millions selling his "art"/money laundering, pelosi inserts clauses a day before thinks become law to enrich her husband and the irs doesnt have the balls to go after them or any rich family really.
The left is fucking retarded, all those dumb city retards who waitress or do uber or x, y, z gigs and then hide their income are about to be in a world of fucking hurt because tax and spend Democrats are back in charge and all those nice things they thought someone else is going to pay for....well they'll be paying for them with massive new regulations designed to milk every fucking cent possible from the poor

Democrat voters are the dumbest cattle there is.
>>
>>944572
Based
>>944582
>HOW DARE THAT HUNTER BIDEN BE ABLE TO MAKE MONEY!!! I'M OUTRAGED!!!11
lmao
>>
>>944582
>Hunter
Stopped reading there
>>
>>944572
>shut down pipelines
>shut down oil fields
>massively make domestic oil production more difficult and more expensive
>HEY WHY WON'T YOU MAKE GAS CHEAPER?!
>>
>>944572
> Senile old cunt shuts down US oil production during his first week on the job, halting construction of the pipeline and destroying 70,000 jobs in the energy sector.
> "Why are gas prices so high now?"
This is what happens when you're senile.
>>
Expect your heating bills to soar big-time this winter

In our Winter Fuels Outlook, to be released later today, we forecast that U.S. households will spend more money on energy this winter than last winter, especially households that primarily heat with propane or heating oil. Forecast expenditures are based on our expectations of high retail energy prices—many are already at multiyear highs—and of slightly more energy consumption per household than in the previous winter. Notably, many energy prices reached multiyear lows last year as a result of the COVID-19 pandemic.

In October, we release our Winter Fuels Outlook as part of our Short-Term Energy Outlook (STEO). The Winter Fuels Outlook focuses on retail energy markets for the four most common heating fuels in the United States and forecasts energy expenditures from October through March for residential households, in particular. Our forecast is based in part on information from our Residential Energy Consumption Survey, and we categorize household consumption and expenditures based on primary heating fuels. However, the forecast expenditures reflect consumption across all energy uses, not just heating.


https://www.eia.gov/todayinenergy/images/2021.10.13/chart2.svg

https://www.eia.gov/todayinenergy/detail.php?id=49936
>>
Retail energy prices for several fuels are already at their highest point in several years. Although price increases over the past year can be attributed to several factors, the main reason wholesale prices of natural gas, crude oil, and petroleum products have risen is that fuel demand has increased from recent lows faster than supply, in part, because of economic recovery after the first year of the COVID-19 pandemic. To varying degrees, these increases in wholesale prices are being passed through to consumers.

Changes in wholesale propane and heating oil prices pass through to retail prices much more quickly than changes in wholesale natural gas or electricity prices pass through to customers’ rates. In addition, many propane and heating oil users buy supplies before winter and refill as needed. When forecasting expenditures, we assume the consumer's cost for the fuel is the retail price at the time they use the fuel rather than the actual purchase price.

winter residential retail energy prices
Source: U.S. Energy Information Administration, Short-Term Energy Outlook: Winter Fuels Outlook
Residential energy consumption in our forecast relies heavily on weather expectations, which we base on the National Oceanic and Atmospheric Administration’s (NOAA) most recent forecast of how cold a winter it will be, using heating degree days as the measure. Heating degree days reflect temperature deviations from a base temperature of 65 degrees Fahrenheit, and more heating degree days indicate colder weather.
>>
In our outlook, U.S. population-weighted heating degree days for the upcoming winter are 3% higher than last winter, indicating colder temperatures. This increase is relatively consistent across the country. Because weather conditions are a key source of uncertainty in these forecasts, our outlook contains two other scenarios of winter weather: one that is colder than NOAA’s base forecast and one that is warmer. Notably, we forecast that U.S. households will spend more this winter, whether the weather is warmer or colder than expected because of considerably higher fuel prices this winter.

More information is available in our Winter Fuels Outlook, which will be released later today and updated throughout the winter, concurrent with STEO releases. You may also register to virtually attend our presentation of this report to the National Association of State Energy Officials on Tuesday, October 19.
>>
>>944583
>>944584
>s..stopped reading

yes because you are a retard bootlicker of rich elites,

>h..hunter makes money how evil!

yes he gets paid more than actual brilliant artists because its money laundering your idiotic dog shit ape brain
>>
>>944634
BDS is real and you're the posterboy
>>
>>944634
It's a waste of time to point it out. They know the Bidens are dirty and they're OK with it. It's only progressive democrats and republicans that don't like it. Nevertheless nothing will come of it.
>>
>>944635
I'm sorry, but what I see these people get deluded about is nowhere near close what I saw lefties get deluded about during Trump prez
>>
>>944572
biden shutdown the keystone pipeline for literally admitted political reasons. yall deserve this for voting for him.
>>
>>944589
>>944756
Keystone was far from finished, and tangled up in a legal mess that would have taken atleast another decade to resolve. Even if the project was still going, it wouldnt have made any difference to the current oil price.
>>
>>944756
>implying the Keystone pipeline didn't end on an oil tanker sailing to Europe
>>
>>944799
Trump handed over to democrats a US being energy independent for the first time basically, biden ended this in his first 3 weeks in office, nothing you say or lie about can excuse this.
>>
>>944805
According to whom?
>>
>>944805
Just stating facts mate. Read up on the project, no oil was gonna flow through that pipe anytime soon.
>>
>>944802
It would be an LNG tanker but basically right.
>>
Get ready for a dark winter!
>>
>>944582
>>944583
>>944584
>>944634
Why even reply to them? They contribute nothing to the thread, but simply to disagree with someone. They probably do this in every thread and don't offer anything on topic or a solution. Never reply
>>
>>944572
>cancel keystone
>impliment EO's that make off-shore drilling near impossible outside of established feilds
>no no no you cant just raise fuel prices
>>
bump
>>
Biden should just nationalize the oil and gas industries.
Prices would plummet if they weren't able to price gouge.
Problem solved.
>>
>>944988
Prince Charles runs his car on wine and cheese biproducts, why can't Americans do that? He is also eating less diary and with those combined he is saving the environment on two fronts.
>>
>>945902
"Let them drive dairy"
The cost of such must be outrageous
>>
>>945903
Goes to show as bad as Biden is it could be worse.
>>
>>944987
It's better to correct their false premises early on before their sockpuppets come along shortly afterward to agree with them.





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