Author Topic: Biden Energy Adviser: Oil Companies Should Invest in Lower-Profit Short-Term Production, We’ll ‘Acce  (Read 158 times)

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Offline mystery-ak

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Biden Energy Adviser: Oil Companies Should Invest in Lower-Profit Short-Term Production, We’ll ‘Accelerate the Energy Transition’

Ian Hanchett 4 Aug 2022

On Wednesday’s broadcast of CNBC’s “Squawk Box,” White House Senior Adviser on Energy Security Amos Hochstein argued that oil companies can “invest today in short cycles that will increase production” “instead of trying to lock in more profits” and vowed that the Biden administration is “going to try to accelerate the energy transition.”

Hochstein stated, “We both know that, in the United States, the onshore production are short cycles. They can invest today in short cycles that will increase production. And at these numbers, at these prices, they’re guaranteed to make profits on those investments today. So instead of trying to lock in more profits and to share those with shareholders, which I understand the impulse there, and to buy back shares and to pay higher dividends, I think at this moment in history, I think it’s fair to ask that they invest it today on profits that we know they’re going to get. Maybe they won’t be at $100, maybe they’ll be at 90 or at 80. But we know they’re going to get those profits in the short cycle that is the shale oil production onshore of the United States. And in fact, Joe, the CEOs — some of these CEOs themselves have said, just recently, I mean, Mike Wirth of Chevron said it publicly, that he was going to increase production.”

He added, “What happens in the outer years? Yeah, we’re going to try to accelerate the energy transition.”

https://www.breitbart.com/clips/2022/08/04/biden-energy-adviser-oil-companies-should-invest-in-lower-profit-short-term-production-well-accelerate-the-energy-transition/
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Offline mystery-ak

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Biden Energy Adviser: OPEC’s Production Increase Won’t Significantly Help Americans

On Wednesday’s broadcast of “CNN Newsroom,” White House Senior Adviser on Energy Security Amos Hochstein said OPEC’s increased oil output of 100,000 barrels a day won’t have a significant impact on the prices Americans pay. Co-host Jim Sciutto asked, “OPEC has agreed to raise output slightly, 100,000 barrels a day. As you know, that’s a fraction of the daily output. Does that significantly impact folks’ wallets here at home?”

Ian Hanchett 4 Aug 2022, 12:27 AM PDT

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https://www.breitbart.com/clips/2022/08/04/wh-energy-adviser-opecs-production-increase-wont-significantly-help-americans/
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Democrat Party...the Party of Infanticide

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Online Killer Clouds

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The incompetence and stupidity of the Traitor Joe administration has no limits.

Offline Kamaji

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Transition to what?  A world where there is insufficient energy for basic needs?  Like Germany, which is about to freeze its collective butt off this winter because they stupidly shut down their nuclear plants?

These people are insane and evil, at the same time.
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Offline IsailedawayfromFR

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Hochstein stated, “We both know that, in the United States, the onshore production are short cycles.

That is an outright lie and he should be called on it.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline DefiantMassRINO

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The "transition" was supposed to use natural gas (methane - aka Satan's Farts) as a bridge fuel to a cleaner energy future.

But the same forces that prevent domestic energy companies from developing domestic reasources have made methane public enemy #1.

Those same loony moonbats have also declared war on chemical fertilizer.

These wackos want us to march off a cliff to a future that undoes the technical progress of the last 200 years, causes economic and poltical collapse, creates famine, and brings about the apocalyptic end to Western Civilization.

Am I missing anything?

This is their future, if we are lucky ...

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