Former President Donald Trump had bragged about his success in opening the region to oil production after decades of political fighting over the resources locked under the tundra there.
Former President Donald Trump had bragged about his success in opening the region to oil production after decades of political fighting over the resources locked under the tundra there.
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Protecting our fragile lands has nothing to do with Russia lol
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Crude oil is not one thing. That’s like saying all water is the same. https://oilprice.com/Energy/Crude-Oil/A-Detailed-Guide-On-The-Many-Different-Types-Of-Crude-Oil.html https://www.thebalancemoney.com/the-basics-of-crude-oil-classification-1182570#toc-factors-that-impact-crude-oil-prices
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You do realize trump is OK with putin’s war in Ukraine?
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Peanuts compared to the republicans who want to drop the sanctions and would actively cooperate with putin to fix oil prices
That’s a drop in the bucket that’d come from an indirect consequence of wanting to curb climate change
Get your thoughts in order
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You realize the gas companies have had record breaking profits, right? It’s greed, nothing more
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I’d rather the “profits” stay in the pockets of every American citizen
See, that’s where we’re different. You pretend to be upset about Americans paying more at the pump, but are actually selfish and only care about a handful of Americans getting richer
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If you invest in oil, then you should want higher gas prices. If you want lower gas prices, then i recommend not investing in oil. If you want energy independance, then you should be championing green energy initiatives and electric cars as much as drilling new claims, even if you yourself dont plan on getting an ev it reduces national dependance.
Oil companies got crushed under trump with the insanely low gas prices of 2016 2017 (i think it was saudi selling at a loss to take market share that time), then again under covids reduced demand and more opec suppliers flooding the market and stealing market share (also under trump). Then they cut production to match demand and cut costs. You can’t just turn a well off and back on, so when demand rose gobally post covid and foreign suppliers cut back production at the same time to reap the profits, the US lagged in ramping up production, and their record profits (under biden) didnt incen tivise them ramping it up. Those 5$ gas prices made the stock go up.
The president does influence gas prices, but not much. Here’s a decent video on gas prices.
https://youtu.be/QnBqAzJXVGo?si=rdfQFVneqaOtf9u9
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Translation: I don’t give a fuck as long as the rich people who own the industry get richer. People with less money than me should join me in protecting those poor billionaires and hectomillionaires from only becoming 45% richer every year or two.
Here in reality, the US is the number one oil producer in the world and exports much more than it uses. Prices are not affected by production anywhere near as much as by commodities trading, cartel price fixing and good old fashioned profiteering.
https://www.fool.com/retirement/2017/06/19/does-the-average-american-have-a-401k.aspx
I’m pretty sure 32% is less than a majority, but I admit I’m bad at math.
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Bullshit.
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Stupid deflection and “most” is wildly inaccurate, unless you’re talking about boomers, who by your standards, should be thanking Biden then
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Define “net benefit to society.” Does that include the entire service industry, much of which does not offer 401(k) plans? I’d like to see what you would do without all the people who pamper you.
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There’s the Republican moral compass. Unless you’re giving corporations extra spending cash, you’re a detriment to society.
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I’d rather the environment stay with us instead of trading it for money
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Yeah let the environment in Russia be destroyed first please. Let’s keep American land the way it naturally is
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Russian oil is down 24% YOY
https://www.barrons.com/market-data/stocks/rosn?countrycode=ru
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This is a bold claim to actually bet money on. Too risky for my blood but do you. If you believe it, this is definitely the dip to buy in at.
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If you’re trying to make money invested in US oil and hoping to keep money in the US, you need the price to be > $3/gal. During the pandemic Russia killed us and our fracking oil fields with the cheap gas. Many US fields had to close, many permanently because damage is done to the fracked wells when operations stop. Below $3/gal it’s cheaper to import and we’re sending our money to the Saudis and elsewhere.
High gas prices makes the US oil fields competitive. Low prices sends US money over seas.
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The fact that you associate gas prices with the president proves how much of a gullible moron you are.
Comments like this is why the rest of the world thinks the USA is a country formed by idiots.
Idk, protecting the environment and forgoing new fossil fuel extraction sounds like a pretty big W to me, dawg.
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Did you know there are more ways to harness energy than burning decomposed dinosaurs?
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I don’t recall pledging allegiance to Exxon or the house of Saud. Maybe the traitor is you!
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Balls to that. We need to get off of oil entirely.
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Well then you can kiss the Saudis’ asses, but don’t expect the rest of us to.
You might as well just say, “no thanks, I don’t care if anyone lives or dies.”
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I think what you’re saying is we should be energy independent, right?
I don’t disagree with that sentiment, but I disagree on where that energy comes from. We should have invested in BOTH getting off of hostile nation energy sources AND alternatives to oil decades ago. Yet here we are. Both parties are to blame for this, yet only one of them seems to be pushing for non-oil energy independence.
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Bro you may wanna research your claims before you get all huffy about shit. You’re not even right, and you’re mad at the wrong people
Yeah, but we got there by shale oil which is ruining our water supply and raping the future land for the present. Hot take. Let’s build more nuclear if energy independence is really the goal. Fossil Fuels are killing us.
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I don’t think that is realistic either. We’re in a transition period and most people still drive gas powered cars. It could take 20 years like you said, or it could take 50.
That said, going back to the article here, the Arctic National Wildlife Refuge doesn’t currently have a lot of oil producing wells on it (if any at all). This is mostly due to the remote area, lack of infrastructure such as roads to get the oil out, and cost vs benefit analysis done by the oil companies. Blocking the drilling is really just slowing down -expansion- of oil production and does nothing to our current production levels.
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Damn it, did Biden lean on the gas prices lever in the Oval Office again?
What a troll. This has nothing to do with that.
Read the room. Gas is likely going to get much more expensive in the next few decades, and that’s probably for the best. If you don’t like it then get an electric car.
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A billion people are on track to die from climate change, according to some estimates.
https://www.sciencealert.com/scientists-warn-1-billion-people-on-track-to-die-from-climate-change
Even if we call that highly inflated, maybe it is, maybe it isn’t, some non-negligible number will certainly die as a result with some multiple of that facing harsh negative impacts. A disproportionate number of those will be in Africa.
If your argument is based in morality, it’s absolutely absurd to suggest the moral concerns of cobalt mining outweighs that of climate change.
You raised a very valid concern, let’s work to make it better instead of running back into the burning building.
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Fuck them kids. /s
Yeah child labor is fucked up but we need to pressure our government and corporations to get more sustainable mines and better conditions for the workers.
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We got by without those lands and we can do it again. Or are you too much of a snowflake to handle it?
Can we send luckyhunter to another country please
And his kids to a cobalt mine since it’s no big deal apparently
Nothing was going to come of this, anyway.
Oil companies themselves are not building wells anymore, or exploring for new ones. Lease auctions are just sitting there with no bids. Very little of it has to do with politics; it’s all about the payback not being there in the long run combined with the risk of another bust in the short run. Only the wells with a high chance of generating profit are getting the green light.
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Policies aren’t causing high gas prices. That’s the whole point, here. The industry isn’t interested in developing new wells for reasons other than government policies.
The countries now buying Russian oil are the likes of China and India. US production isn’t going to be fueling either of them.
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America already makes more oil than it uses.
I’m not American. Explain to me how that works please.
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But what about your #1 foreign supplier of oil? Canada.
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So what’s your stance on us support for Ukraine?
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Lolol