# Drill, and drill, and drill more **URL:** \ **Category:** Macro Economic Trends and Risks\ **Created:** [February 16, 2024, 3:10am UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889 "2024-02-16T03:10:44Z")\ **Posts on this page:** 17\ **Page:** 1
**Author:** ![steve203](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/steve203/32/3302_2.png) [@steve203](https://discussion.fool.com/u/steve203)\ **Post date:** [February 16, 2024, 3:10am UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/1 "2024-02-16T03:10:45Z")
Amazing things show up in both my e-mail and snail mail boxes. Received a “platform survey” asking about what I think should be policy priorities for one of the major parties. There were no questions about protecting the environment. No questions about carbon-free energy sources. No questions about promoting EVs. No questions about improving energy efficiency. There was, however, a question about whether to increase production and use of fossil fuels. Steve ---
**Author:** ![Leap1](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/leap1/32/72176_2.png) [@Leap1](https://discussion.fool.com/u/Leap1)\ **Post date:** [February 16, 2024, 3:15am UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/2 "2024-02-16T03:15:02Z")
Who would want to know? Surprise Surprise Surprise ---
**Author:** ![DrBob2](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/drbob2/32/3456_2.png) [@DrBob2](https://discussion.fool.com/u/DrBob2)\ **Post date:** [February 16, 2024, 1:56pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/3 "2024-02-16T13:56:27Z")
> [@steve203](#): > > There was, however, a question about whether to increase production and use of fossil fuels. Europe has to get its natural gas from somewhere… DB2 ---
**Author:** ![steve203](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/steve203/32/3302_2.png) [@steve203](https://discussion.fool.com/u/steve203)\ **Post date:** [February 16, 2024, 3:45pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/4 "2024-02-16T15:45:39Z")
> [@DrBob2](#): > > Europe has to get its natural gas from somewhere… The full question is: “To bring back our country"s energy independence, should (some bunch of) Senate candidates call for restarting the Keystone XL pipeline construction, speeding up permit processing for new oil and gas refineries, and reopening some federal lands for careful, targeted exploration for fossil fuels?” heh,.,“careful, targeted” as in “only where we think there is oil, not targeting places where we don’t think there is oil”. My vote may not be counted this November, but seems Exxon’s vote has already been counted. /sarcasm Steve ---
**Author:** ![albaby1](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/albaby1/32/12772_2.png) [@albaby1](https://discussion.fool.com/u/albaby1)\ **Post date:** [February 16, 2024, 3:54pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/5 "2024-02-16T15:54:41Z")
> [@steve203](#): > > My vote may not be counted this November, but seems Exxon’s vote has already been counted. From the phrasing of the question, that looks more like a “push poll” opinion survey - not an actual poll. ---
**Author:** ![steve203](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/steve203/32/3302_2.png) [@steve203](https://discussion.fool.com/u/steve203)\ **Post date:** [February 16, 2024, 4:10pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/6 "2024-02-16T16:10:55Z")
> [@albaby1](#): > > From the phrasing of the question, that looks more like a “push poll” opinion survey - not an actual poll. Of course it’s biased. Every question feeds into the narrative pushed by one faction. Another question: “Do you want (our) Senate candidates to pledge to defend the Second Amendment rights of law-abiding Americans?” but there is no question that says “should the government get out of the business of promoting religion, and respect the First Amendment?” Then there is an appeal for donations. Steve ---
**Author:** ![albaby1](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/albaby1/32/12772_2.png) [@albaby1](https://discussion.fool.com/u/albaby1)\ **Post date:** [February 16, 2024, 4:17pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/7 "2024-02-16T16:17:09Z")
> [@steve203](#): > > Of course it’s biased. I was just trying to assuage your fear that Exxon’s opinion has already been counted and yours won’t be. Since this is obviously a push poll, it has no real bearing on what the state of play in DC **actually** is, but rather what the marketer wants to try to sell. ---
**Author:** ![jerryab2](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/jerryab2/32/3274_2.png) [@jerryab2](https://discussion.fool.com/u/jerryab2)\ **Post date:** [February 16, 2024, 4:29pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/8 "2024-02-16T16:29:34Z")
> [@steve203](#): > > Then there is an appeal for donations. Tell them to send you $10-million a week–for now. You WILL increase their payments to you once they have a satisfactory payment record TO YOU. ---
**Author:** ![steve203](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/steve203/32/3302_2.png) [@steve203](https://discussion.fool.com/u/steve203)\ **Post date:** [February 16, 2024, 5:34pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/9 "2024-02-16T17:34:42Z")
> [@albaby1](#): > > has no real bearing on what the state of play in DC **actually** is, but rather what the marketer wants to try to sell. As I said above, this was sent out by one of the parties. It makes no pretext at being unbiased and seeking information. It stakes out the sender’s priorities, like “repealing (the other bunch) funding that doubles the size of the IRS”, and seeks confirmation (and donations) from the recipients. If I put my honest opinions on this thing, and sent it in, I would be on a “subversive” list before the sun sets. Everyone see what happened to Navalny today? [![](https://us1.discourse-cdn.com/motleyfoolfree/original/3X/2/4/24f79f359429f69e8dc9d6642b6cb2d25af0411e.jpeg "For and Against National Service | Yes, Prime Minister | Comedy Greats") ](https://www.youtube.com/watch?v=ahgjEjJkZks) ---
**Author:** ![albaby1](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/albaby1/32/12772_2.png) [@albaby1](https://discussion.fool.com/u/albaby1)\ **Post date:** [February 16, 2024, 5:39pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/10 "2024-02-16T17:39:22Z")
> [@steve203](#): > > As I said above, this was sent out by one of the parties. Ah - you had said it was a survey about party platforms, but not that it came from the RNC itself. Even so, it’s just a marketing device - not an actual survey. They don’t care what you think - they just want you to engage in the marketing piece rather than throw it away unread (electronically, I assume). So they frame it as a survey rather than just a straight up ad. ---
**Author:** ![steve203](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/steve203/32/3302_2.png) [@steve203](https://discussion.fool.com/u/steve203)\ **Post date:** [February 16, 2024, 5:45pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/11 "2024-02-16T17:45:34Z")
> [@albaby1](#): > > Ah - you had said it was a survey about party platforms, but not that it came from the RNC itself. I said " one of the major parties.". The point I was driving at was the promotion of fossil fuels, and the exclusion of any alternatives. Did I mention I opened some positions in the oil patch a few weeks ago? The real thrust of the post was the prospect of an openly pro-fossil fuel government policy, vs the current policy promoting carbon-free sources and EVs. Steve ---
**Author:** ![DrBob2](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/drbob2/32/3456_2.png) [@DrBob2](https://discussion.fool.com/u/DrBob2)\ **Post date:** [April 1, 2024, 3:36pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/12 "2024-04-01T15:36:36Z")
> [@steve203](#): > > Did I mention I opened some positions in the oil patch a few weeks ago? Steve, earlier they year I followed up on your seasonal oil strategy. I opened a position in USO and then entered a good-til-canceled (GTC) sell order 15% higher. It sold today. Thank you. DB2 ---
**Author:** ![MarkR](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/markr/32/2011_2.png) [@MarkR](https://discussion.fool.com/u/MarkR)\ **Post date:** [April 1, 2024, 4:29pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/13 "2024-04-01T16:29:42Z")
> [@DrBob2](#): > > USO I despise USO. It’s arranged as a partnership, so you get a K-1 each year. And not just each year. Because of the way they use futures contracts, you can, and will likely, get K-1s long after you’ve sold it. After I sold it, I received a K-1 one year afterward AND two years afterward! It’s not that bad, but it still complicates tax filing somewhat. ---
**Author:** ![steve203](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/steve203/32/3302_2.png) [@steve203](https://discussion.fool.com/u/steve203)\ **Post date:** [April 1, 2024, 4:31pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/14 "2024-04-01T16:31:59Z")
> [@MarkR](#): > > After I sold it, I received a K-1 one year afterward AND two years afterward! It’s not that bad, but it still complicates tax filing somewhat. Within limits, you can hold a partnership in an IRA, and all the tax implications go away. Steve ---
**Author:** ![DrBob2](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/drbob2/32/3456_2.png) [@DrBob2](https://discussion.fool.com/u/DrBob2)\ **Post date:** [April 1, 2024, 4:54pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/15 "2024-04-01T16:54:20Z")
> [@MarkR](#): > > I despise USO. It’s arranged as a partnership, so you get a K-1 each year. Good point. Also, if I had bought something with a higher beta it would have gone up higher/sooner. MRO is up 22% over the same period. DB2 ---
**Author:** ![steve203](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/steve203/32/3302_2.png) [@steve203](https://discussion.fool.com/u/steve203)\ **Post date:** [April 1, 2024, 5:23pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/16 "2024-04-01T17:23:17Z")
> [@DrBob2](#): > > MRO is up 22% over the same period. My CVX and COP aren’t up that much. I noticed today that those two oils, and Mr Softie, are the only things that are up, on what is, otherwise, a pretty stinky day. Steve ---
**Author:** ![UpNorthJoe](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/upnorthjoe/32/1083_2.png) [@UpNorthJoe](https://discussion.fool.com/u/UpNorthJoe)\ **Post date:** [April 2, 2024, 1:09pm UTC](https://discussion.fool.com/t/drill-and-drill-and-drill-more/101889/17 "2024-04-02T13:09:29Z")
“Within limits, you can hold a partnership in an IRA, and all the tax implications go away.” a few years ago, on the old TMF Tax boards there was a huge thread about the tax implications of owning shares in MLP’s. After a certain ( can’t remember the amount, it was pretty low ) amount of K1 income received, a person might be required to file state-tax returns in every state that the MLP did business in. And it did not matter if it was in a 401k, or an IRA , since K1 companies are pass thru, the government only gets the tax from the investors/owners, and they want their money, lol. The OP of the thread had exactly that happen to them, and it sounded like a real bear to figure out their taxes for that fiscal year. I think they had to pay a hefty fee to have a CPA sort it all out for them. I owned shares in MPLX at the time, and sold it all after reading that thread. Not worth the slightly higher payout to risk dealing with a multi-state tax return. Can’t remember the amount that would have triggered that, but do remember that thru good luck I was just under it. And it was not a lot of money, maybe $2k ballpark.