Ukraine..What's the Next Step?

You are 100% correct.  There are some things that Biden and his admin can certainly be blamed for  but the price of oil is not one of them.

You can't explain this logic to Trump-cult, they just don't understand it.

So what is the logic, it is erroneous and faulty. Are you suggesting Repubs believe the logic he is posting? Its fake, that favorite word you guys love to use...his premise is completely fake. Anyone who has even a small understanding of the cycle of production laughs at the throw up you guys are making on this topic. Supply takes six to twelve to eighteen months to move through the system. So when Exxon massively cut projects and budgets when oil went under 30, that did not mean TOMORROW oil would be at 100, their schedules take a long long time to materialize to the commodity markets.

Take off your stupid political glasses and do your own thinking, it IS possible to completely move away from oil, especially for the energy purpose..well before oil was discovered and petro discovered people actually lived..shocking that life existed before crude oil products came to the market.

Logical. Although this doesn't stop US oil companies from profiteering on news cycle events in advance of that supply cycle working its way through over the course of many months. They can and will raise prices at the pump instantly inspite of having no need due to supply issues. In either case, it's still not Biden's fault.  Can't blame corporate greed by assholes on any president. Blame the corporate greed.

That said, this planet is dying, and it's largely because of oil.  We have to move away from it, not towards it. Doesn't matter Lib or Con, those are the facts. 15% of European energy is from renewables and that is increasing every year.  We are far behind the curve.  We should be leading the world.  Biden is correct, but political bigots and corporate greed will make him a scapegoat anyway.

@wallstreetcappers

6-18 months to move through, meanwhile prices skyrocket the day after "news". Right. Shouldn't the "news" have known about it a year ago? Since you seem to know about the production line right now, tell us what prices will be in 6-18 months?

Move away from oil, right in 5-10 years like the dems keep promising? Gotta be a true retard to believe that crap. Oil will be here for a very long time. The sun won't power shit like people think it will. Keep living in a fantasy world thinking "green" energy is going to run the entire world in 10 years time. What happens if every car and house in the world went electric tomorrow, where the hell would the power come from? We do not have the infrastructure to support "clean" energy and we won't for multiple decades. So why the hell are we running away from oil now? Too damn early and Putin knows this.

Oil is arguably the most sought after commodity in the world right now. You'd be a straight fool to go away from it right now. But keep letting the US stop oil production, throw in the UK as well so we're all dependent where we don't control pricing. Continue to watch inflation. But hey, you should know this. I mean your name is WallStreetCapper, you should know what's really happening with finance. Is this "war" just a distraction?  

But when you take away production YOU'RE GOING TO INCUR RAISING PRICES, basic supply and demand. That is the point of going away from energy independence. If we're not producing it, someone else will. Consumption will still be the same this year, 5 years, and 20 years from now. Face it, "green" energy is not going to have a huge significant impact like dems keep promising. All talk. If it worked so well, why are large corporations not moving towards it at a much faster rate? It doesn't work like dems keep promising, otherwise the "free market" would be all over it. 

Inflation is going to destroy this (US) country and world before climate will.

That is called "markets" that is because traders can buy and sell crude contracts without ever owning a drop of oil, its speculation and the markets functioning. Like zeus mentioned above when events happen corps can take advantage and make excess profits but that has nothing to do with Biden, those people are taking risks and can lose or they can win...its the action of the financial markets.

Ive told this story before when I was a broker in Philly I had a client who worked for a local refinery and he told me all sorts of stories that they would manipulate the refinery based on what management told them so they could add a shift if prices were good or they would close production for "cleaning and inspection" when pricing was bad.

Oil has been moving higher since Covid started getting under control and businesses started returning to function and with reduced supply that made prices go higher. If you are miffed about fracking going away maybe those idiots should not have leveraged so heavily, THAT is why several frackers went under...they leveraged on cheap FED cash and purchased land or rights to extract and when prices started coming down it no longer made sense to produce, so they are now producing less and having to pay on leases and land that they are not using and the leverage caused banks to call in loans and poof several went under. Leverage is usually the culprit for corporate implosion.

@wallstreetcappers

 and what is crude oil doing today? Speculation driving it up? When's the last time we saw these prices? What happened shortly after we've seen these prices? Charts looking familiar to you at all?

u make sense , zeus                 therefore u will b attacked by the rw

biden and others bfor him r right about oil .  bad news for the planet going forward . for the forseeable future of maybe the next 50 yrs it will likely b needed to power things like planes , ocean vessels , trains and some industry

but only a complete fool would think we must keep ALL OF IT  for the next 50+ yrs to also power cars , trucks , heating homes & businesses , and all electrical needs everywhere .  like u point out  europe has proven even to skeptics that energy use from renewable sources can be used effectively for heating , electricity and automobiles  -- which vastly reduces the use and need for oil even if we will still need some oil for a number of things .  vastly reducing the need for most of the oil is the key

Speculation 100% that is why oil has moved this far and could go even higher. So if you do not like speculation then you should not be looking at commodity prices. Gold has been going higher too, same reason...it isnt that there is a gold shortage rather speculation and traders placing bets.

If we do not produce our own oil and we are dependent on foreign countries to supply the most basic commodity we need to power 99% of our country, of course they're going to jack prices up. There is no other choice but to pay. Inflation leads to record profits which leads to increase in speculation on moving higher prices = more investments = rug pull and the unsuspecting is left holding the bag. 

Gold has always thought to be the safe haven for a market crash.

What crashes first WSC, crypto or the stock market? Or do they both keep pumping on speculation and inflation creating profits? How long before consumers run out of capital to keep buying inflated prices that are currently propping up corporate profits?  Gonna last forever?

SO??  If we don't take away production we will kill the planet!  I am smart enough to know which is worse.

And no consumption will not bet the same 20 years from now.  Renewables are increasing not just every year, but every MONTH!  The future is here now.  Personally I would prefer the US jump in front of the parade and lead it than become a bystander and watch it pass us by.

150% correct!

BS.

We are the #1 producer in the world.  We don't need any foreign oil, first, regardless if we actually do purchase it or not.  We don't need it.  We have plenty.  Especially when we consider the Biden plan to reduce oil needs and increase renewables at the same time.  Then, logically we still have plenty of oil for certain needs.  But we SHOULD NOT need oil for heating homes and businesses, or most electrical power, and certainly not for powering cars.  It will take time sure but this has to happen.

Increasing use of renewables REDUCES the need for oil! Therefore, no "dependency" issues.

this has to happen

i hate enabling the american oil oligarchs thaat r destroying our planet as we speak

We keep Democrats in office and we’ll be on horseback and I’ll be visiting Nantucket by canoe  

@zircon

 Enjoy inflation. Enjoy hyper inflation or stagnation. Are you going to have the money and resources to buy your renewable energy? Have you ever looked into how much "green" energy actually costs a home owner? Is it really worth it? Most think no after seeing prices. So until manufactures can lower the costs to "go green" it's not feasible like you fairly tale people believe.  Yes, we must save the planet, but that isn't free. Just like freedom isn't free. So if we can't control prices NOW, we can't control prices and "green" energy later.

You probably think solar is the way. You realize people spend thousands of dollars on solar and they maybe get to power one load of laundry a day, right? 

If the choice is inflation or the planet, I choose the planet.

When will our allies stop buying Russian oil and lining Putin’s pockets? 

Why is Putin so against fracking? 

2 very simple questions. 

You're funny.

You clearly still live in your parents basement.

You probably think people have 100% control over the environment. The Environment that's been around for millions of years. Keep thinking people have 100% control.

We keep corporate greedy republicans in office and the coastal cities all over the world will flood, epic hurricanes and tornadoes will increase in number and very COSTLY severity, drought will reduce our food supply and fresh water (increasing costs by tenfold at least), forest fires will reduce our CO2 absorbing forest canopy and destroy crops, homes, towns and kill people.  What will the COST of battling all that be in the future, compared with reducing our oil now and increasing renewables?

Astronomical costs and epic inflation in the future!  Only a moron doesn't understand this.

As you type from YOUR parents' basement.

You're not.

NEW LAW:

If you claim to be worried about the planet, and want people to start making sacrifices, you can no longer fly on private jets or be driven around in black suburbans. 

You fly like the rest of us and you get driven around in 4 cylinder cars only. 

Any violation gets you 30 days in Ukraine. Repeat offenders get sent to Libya for no less than 1 year.