Great content as always Preet! The production value keeps going up too. The videos look great too! Bravo.
@Btdenn1232 жыл бұрын
Yep, Biden keeps digging a deeper and deeper hole. Hope we survive his presidency.
@Potato0t22 жыл бұрын
1:32 What the heck are you even driving that has a 73 L tank??
@PreetBanerjee2 жыл бұрын
Ha! I was borrowing my mother’s car, which for some reason is a Range Rover Sport.
@shyman90232 жыл бұрын
On my first day I am going to gut our domestic production and then when prices go up I'm going to put our energy security on the line by releasing oil from the SPR. I'm a sheer genius or what?
@TheDookieMaster2 жыл бұрын
Domestic production wasn't cut, it higher than the end of 2020 production.
@incipidsigninsetup2 жыл бұрын
Biden doesn't control oil production. Oil production is privatized and not run by the federal government. These private producers have made public statements saying they refuse to increase oil production since it's in their best interest to keep prices high. Stop reading right wing garbage and actually get educated so you know what your talking about.
@shyman90232 жыл бұрын
@@incipidsigninsetup He shut down Keystone XL and leases on public lands and water. Can't see how that does not curtail production.
@kangkim1502 жыл бұрын
@@shyman9023 Oil companies are not even using the leases they have to boost their profits.
@thechip27272 жыл бұрын
thanks for explaining this. keep seeing dramatic stuff on the news, but nobody explaining why they decided to. this was helpful
@1309gsk2 жыл бұрын
5% us oil consumption will be lowered but USA consumes 10.5 bpd so the oil reserves should contribute 10% oil consumed means lowering gas prices between 5-10 $ a barrel meaning if it costs $100 bpd, the prices going forward should be lowered by 10% if oil tycoon of texas and oklahoma and louisiana does not lower the prices of oil by 30-40%. shame on xo, cvx and big oil forms
@multirichardb2 жыл бұрын
Amazing information to hear, not in a million years would anyone imagine this, form of tech in crude oil?
@johnlandis64302 жыл бұрын
When I tried to research the two previous release of the reserve I found out something interesting. Companies bid on the oil being released and then they have to pay back with interest in the future. I am not sure but I think this is in oil. Working on this being paid back in oil. I guess if I thought the price of oil will come down in the future or the rate if inflation is higher than normal this probably is a good choice for these companies. However, that means in the future while paying back the oil, the price of oil will be kept higher by reduction in the supply at the time. This just points to inflation being high.
@kaimikkelsen2 жыл бұрын
Nice video, Preet. Very informative.
@garyt1232 жыл бұрын
Every single NATO country has an SPR. Together they are the GSPR. They've been around for decades.
@miked1042 жыл бұрын
Preet Banerjee meets Preet Energy. Good work!
@CARL_0932 жыл бұрын
Can u do a video why russia storing a lot of gold and using btc when purchising oil I just need to know more deeper bec ruble of russia just fix it self
@manfredmustermann62862 жыл бұрын
No oil is already up 10% again
@craffte2 жыл бұрын
I remember when the speed limits started going up. It felt like the world was going insane. Little did I know.
@PreetBanerjee2 жыл бұрын
They history doesn't necessarily repeat exactly, but it often rhymes.
@hakapelika70242 жыл бұрын
FJB.
@eduardblackbeard39132 жыл бұрын
Welcome to BC lawl
@BaybieK2 жыл бұрын
We should all just move to EVs where possible.
@apolinariomabini27122 жыл бұрын
Midterm election must be coming up. OPEC will oblige for for better return after the midterm.
@seanrrichards2 жыл бұрын
In January 2022 the US produced about 11.35 million barrels of oil per day (MMBOPD). The US imported 6.35 MMBOPD made up of mostly sour/heavier crude from Canada and yes Russia! For a total of 17.7 MMBOPD coming into US refineries. The US also exported out some 3.3 MMBOPD of light sweet crude (much of the shale oil is too light to refine the US and has to be shipped out of the country for initial refining) to other countries because the US refineries have to have a blend of 65% sweet and 35% sour oil to make the proper amount of gasoline, diesel and jet fuel. The fact is our US refiners buy exactly the 65/35 blend they need. Every day. And that amounts to about 17.7 MMBOPD. Every day. The administration dumping 1 MMBOPD into the market means that a few lucky refiners will “not” have to buy that amount of imported oil for the next 6 months. It will simply go somewhere else. No refiner wants to store oil at $105 per barrel. Makes no sense. The refiners won’t be buying any additional sour oil for a few months. No big deal. It’s only a few Texas and Louisiana refiners that get this windfall benefit ahead. No East or West Coast refiners.
@TheDookieMaster2 жыл бұрын
Thanks for the educated information, most people dont know how O&G works. Pipeline operator here.
@jamesgjackson2 жыл бұрын
Navy Petroleum Reserve founded 1912
@Hackedideal2 жыл бұрын
Wow! How did you know this? Were you in the navy?
@nothingisgiven83642 жыл бұрын
Sharing for all my other retails. Evolve the financial markets! "Retail investors determine the price of gold" more so then central banks or institutions (CPM group). Can you imagine a system that unifies retail investors. Example on X day millions of retail investors go long, on Y day millions close position, were the return is averaged say each participant makes 5% controlled by order flow first order in is last out and last order in is first out, or something method devised to ensure anyone one group of participants is left hold the bag so to speak. Fairly certain someone will develop something like this over the next few years, and incorporate it into an existing platform. Like this comment to support the idea and if you would want to be able to trade with something similar to the idea. Feel free to copy and share the idea of you like.
@teela10112 жыл бұрын
Going to china
@deniskochinozo73422 жыл бұрын
Last bottle is opened, green movement is about to win)
@LucyTheBichonFrise2 жыл бұрын
Really?
@Btdenn1232 жыл бұрын
They aren't going to win. The US dollar reserve currency status is gong to take a major hit. This will cause more inflation at home and abroad. Since USA has to import majority of rare earths and metals to produce green tech and the dollar is declining, moving to green economy will be hopelessly out of reach.