[mikemalloy]

They're hitting us with the bat we gave them. Of great concern is our depleted National Oil Reserve which needs to be replenished. Our buying oil to do so will only increase demand and drive prices even higher. You reap what you so.

[Vermilion Villager]

Originally Posted by Battlebasset

If you rely on other countries for a commodity that has no substitutes you are subject to their whims.

The solution? For commodities that are crucial and have no substitutes, figure out how to mine/drill/process them domestically. That puts you in the driver's seat, and potentially drives the price down. It also reduces the money they have available to fund bad things, like terrorism and war.

Why do people keep going there?
If I or any one of you had stock in an oil company and found out the Board of Directors authorized the sale of our oil at a reduced rate instead of putting it out in the open market… There will be a new Board of Directors. Bottom line oil is a worldwide commodity and the only way you control it.....is by not using it.

[RPDaly]

////

[OhioBuckeye]

I don’t know about interest rates but I heard Russia & S. Arabia are saying they’re going send 1 million less barrels of crude to the U.S. That means we’ll be paying $5. a gal. for gasoline. All Biden & some of the voters can do is smile! What’s your thoughts?

[tuccillo]

Not exactly. Saudi and the other major oil producers are cutting production by 1.15 million barrels per day through the end of 2023. To say that all of the production cut is targeted at the US is not correct. Oil is a global commodity. To put this in perspective and provide some context, the world uses about 100 million barrels of oil per day and the US uses about 20 million barrels of oil per day. The announced cut by Saudi is about 5% of their current production. I believe the US is still the world's largest producer of oil at about 12 million barrels per day.

Originally Posted by OhioBuckeye

I don’t know about interest rates but I heard Russia & S. Arabia are saying they’re going send 1 million less barrels of crude to the U.S. That means we’ll be paying $5. a gal. for gasoline. All Biden & some of the voters can do is smile! What’s your thoughts?

[rsmurano]

Originally Posted by billethkid

A novel thought?
Energy independence!!
Such an easy solution and readily available.

____________________________________________

A few years ago we were energy independent and we will be again in the future. If we were energy independent, we wouldn’t care what OPEC does. Now we have to go begging our enemies for energy

[MrFlorida]

Originally Posted by rsmurano

A few years ago we were energy independent and we will be again in the future. If we were energy independent, we wouldn’t care what OPEC does. Now we have to go begging our enemies for energy

100% correct !

[Battlebasset]

Originally Posted by Vermilion Villager

Why do people keep going there?
If I or any one of you had stock in an oil company and found out the Board of Directors authorized the sale of our oil at a reduced rate instead of putting it out in the open market… There will be a new Board of Directors. Bottom line oil is a worldwide commodity and the only way you control it.....is by not using it.

Tell me...how do you do that? There is no substitute at this time for oil, not only for gasoline/diesel, but for the tens of thousands of products manufactured with oil - plastics being the one that first comes to mind.

Wind and solar is nowhere near able to do just the energy part, and that will be the case for the rest of our lifetimes, and probably our children too. Throw nuclear into the mix? That would get us much closer, but we've been told it isn't even under consideration.

Originally Posted by RICH1

Will this cause Inflation or Recession? Are the Saudis playing with fire? Will the United States finally support the Venezuelan Government and import oil? Will Powell follow other Countries and Stop raising interest rates?

Lol another infraction clickbait thread. Much like a thread on crime. Zip it... zip... zip...

[Djean1981]

The US has oil...

[jimjamuser]

Originally Posted by billethkid

A novel thought?
Energy independence!!
Such an easy solution and readily available.

____________________________________________

Energy independence could be achieved quickly if 70% of all new cars, trucks, and golf carts SOLD were ELECTRIC. It is in the hands of us CONSUMERS - we just have to do the right thing for ourselves and the air that we breathe.

[jimjamuser]

Originally Posted by OhioBuckeye

I don’t know about interest rates but I heard Russia & S. Arabia are saying they’re going send 1 million less barrels of crude to the U.S. That means we’ll be paying $5. a gal. for gasoline. All Biden & some of the voters can do is smile! What’s your thoughts?

Buy an E-Vehicle !!!!!!!!

[tuccillo]

So tell us, which EV do you own? Which brand of solar panels are on your roof?

Originally Posted by jimjamuser

Buy an E-Vehicle !!!!!!!!

[RICH1]

Gizmo, Planning for the Future is not clickbait. Interested in which direction our economy is headed, and reading the opinions of some educated Villagers is my intention…

[Vermilion Villager]

Originally Posted by tuccillo

So tell us, which EV do you own? Which brand of solar panels are on your roof?

Don't know what that has to do with anything but...Tesla, and my golf cart is a STAR EV.