Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

The Energy Report: Taking Advantage Of High Oil Prices

By Phil FlynnCommoditiesFeb 04, 2022 10:40AM ET
www.investing.com/analysis/the-energy-report-taking-advantage-of-high-oil-prices-200617128
The Energy Report: Taking Advantage Of High Oil Prices
By Phil Flynn   |  Feb 04, 2022 10:40AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

US oil prices are surging overnight as US oil demand is at record highs, but US oil production falters what we are seeing as bear traders capitulate in a big way as cold temperatures come across the United States and an energy crisis in Europe seems to get worse. There are still upside risks due to the Russia Ukraine situation, keeping traders on edge. Still, more than anything, the reason why this market is taking off is that US supplies can’t seem to keep up with demand Biden administration policies is less thus more dependent on imports.

Saudi Arabia has taken advantage of the US, at least to a story in the Wall Street Journal. They report that Saudi Aramco (SE:2222) is going to offer a $50 billion secondary offering which would be the biggest stock offering in the history of the world.

At least somebody has been in fitting from these higher oil prices it should be the United States we need to back off US oil and gas industry and work with them the Biden administration needs to realize it made some major mistakes, and if we they want to save the economy and cool down inflation they have to send a message the fossil fuel are going to be here to stay and that they’re going to embrace the industry work with the industry and not hamper the industry that’s going to be difficult when Democratic Senators do not seem to understand anything about how the energy market works.

Read this letter United States Senator Elizabeth Warren (D-Mass.) joined Senators Jack Reed (D-R.I.), Angus King (I-Maine), and seven others in a letter to Secretary of Energy Jennifer Granholm, urging her and the Biden administration to consider limiting liquefied natural gas (LNG) exports to reduce prices for American families.

As LNG exports hit record-high levels, American consumers are footing the bill and facing an energy crisis this winter.
Senator Warren said:

“We can’t let energy companies squeeze American consumers with unaffordable energy bills at home while reaping record profits through LNG exports abroad. The Department of Energy needs to reevaluate its LNG export policies and figure out how to keep prices low for American consumers. Until the Department has a plan, it should consider halting permit approvals of LNG export facilities.”

Nearly half of all homes in the United States use natural gas for heating, and this year energy costs for home heating are estimated to rise by 30%. Despite these rising costs for American consumers, energy companies export more natural gas while decreasing supply.

In December, the United States became the world’s leading LNG exporter. Senator Warren and her colleagues are calling on the Biden administration to evaluate its LNG export policy and halt permit approvals of US LNG exports until the consequences to consumers are understood.

As consumers face a winter energy price and inflation crisis fueled by corporate profiteering, Senator Warren has fought to protect American consumers from exploitation. In November, Senator Warren called out the largest energy companies for exporting record amounts of natural gas while jacking up prices for consumers and rewarding executives. In December, Senator Warren and her colleagues called on the Department of Health and Human Services to strengthen the LIHEAP program to help families afford rising energy prices.

This letter of course fails to acknowledge that the green new deal senators have been trained to kill US natural gas production they’ve been trying to kill pipelines they have been trying to kill natural gas usage now they complain when we export natural gas. 

The truth is that there is excess natural gas in this country and if regulations weren’t as strict as they are we could build more pipelines and move natural gas to other parts of this country to keep prices low yet you have an anti-natural gas lobby in Washington you also have an insert in cities where New York is banning new natural gas buildings and you also have it in California where whole cities are blocking natural gas buildings. 

Natural gas is the bridge fuel that can help the world reduce greenhouse gas emissions we should embrace natural gas not demonize it but more importantly after you demonize natural gas don’t complain when prices go high or if some other country wants our supply.

The Energy Report: Taking Advantage Of High Oil Prices
 

Related Articles

Phil Flynn
The Energy Report: Gas Gimmicks By Phil Flynn - Jun 24, 2022 1

Energy prices are trying to find some support after getting beat up on recession fears in data from the American Petroleum Institute that failed to inspire people to come back in...

The Energy Report: Taking Advantage Of High Oil Prices

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Mohd Izhar Muslim
Mohd Izhar Muslim Feb 05, 2022 10:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
it's means a Lot to me. Thank you for the article 👍
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email