We've gone over this. You've been blaming the oil industry for high costs at the pump instead of Biden, saying they're holding down production. At the same time you're saying we're at pre-Covid numbers and will break a production record in 2023. So how is the oil industry holding back? What we have is very high demand while at the same time Russian oil is offline. But prices were up 50% under Biden before the Ukrainian war. Directly related to his policies. We can argue all day about this but what matters is what the majority of voters think. If prices remain high under Biden a Republican will very likely win in '24. If he reverses Biden's policies and prices come down what do you think voters will think? Couple that with being soft on crime and pushing things in schools the majority of voters don't like and the Democrats will marginalize themselves. And you Democrats no matter how badly the polls look will blame it all on Republican racists rather than admit you got it wrong. You just can't help yourselves.
Gas Prices Skyrocketing Thanks Biden!
- Thread starter Maple Grove MN Driver
- Start date
Up In Smoke
Well-Known Member
Government subsidies for oil and gas were slashed by this President. What I'm hearing is most people would like cheaper gas and are willing to allow the government to spend their tax dollars to make the industry more profitable. IMO, let capitalism work it's way though the sector, let the consumer dictate what the price of energy should be. Fossil, solar, wind, or water let the free market system do it's job. Move away from socialism.
And those subsidies were mostly reinstated after the industry lobbied Congress. To eliminate the subsidies requires legislation and such efforts have been stalled in Congress. A Democratic Congress by the way.
We're told that there are 9000 Federal leases available to the oil industry to use. There are over 37000 active leases available and 76% of them are being used, a record. Many of those 9000 are in litigation by environmental groups to prevent their usage. And Biden has ordered that before any lease can be newly used it must undergo a study that can take years. And he's put a hold on any new drilling on any Federal land and offshore. I can quote what he has said about ending the oil and gas industry if anyone wants to see it. The oil industry is under attack by this administration with the clear aim to end it and if that causes the consumer pain they don't care except before elections.
If this administration is serious about helping average Americans they'd go back to what was before. They aren't.
@bacha29
Analbumcover
ControlPkgs
Remember that Joe Biden isn't mad over high gas prices, he's mad because YOU'RE mad about them. This entire debacle is largely self-inflicted because Lunchbox Joe adheres to this radical green religion which states that carbon emissions are satanic.
newolddude
Well-Known Member
Keystone pipeline break spilled diluted bitumen, complicating cleanup
The oil spilled from TC Energy Corp's ruptured Keystone pipeline was diluted bitumen, the U.S. Environmental Protection Agency (EPA) said on Thursday, adding complications to the cleanup.
www.reuters.com
PT Car Washer
Banned
I hate to fill my gas tank because the next day the price goes down another $.05 or $.10 a gallon.
Wait until January. European ban on Russian oil goes into effect. Better hope the Russians can keep the oil moving through their Siberian pipelines. If they can't it'll gel. That'll cause water to separate from it. Water expands when it freezes. That's a lot of busted pipeline and 4 million barrels a day off the world market. And possibly as much as $180 a barrel oil.
newolddude
Well-Known Member
The only thing worse are the pumps at Sams which purposely fill slower than any other pumps.
I paid $2.43/gallon yesterday
Perhaps you’ll check your posts on the Dow. If we are heading into a recession, fuel prices will continue to fall. It’s simple supply and demand.
Not exactly. Prices for oil have been falling bc we have been using our SPR. China has been locked down, and what happens when they open up. Using the SPR is sleight of hand to make uninformed people think everything is ok. Smh FYI the date they’ll use for this recession is July 1, 2022…..that was 6 months ago.
Over70irregs
Well-Known Member
We all know petro $ is dying. Lsst admin killed us internationally and diminished our favor. We have to move on and use technology to our advantage.
More likely increasing fuel prices will hasten and exacerbate a coming recession.
Up In Smoke
Well-Known Member
The cost of labor, which in turn drives the cost of goods and services will ultimately break this economy. I argue, recessions are needed and good for the overall health of society. Forced retirements, elimination of redundant jobs and worker productivity will brings us out the other side.
Over70irregs
Well-Known Member
Not sure about that. While we heat the economy up other nations are failing due to inflation exporting. They will look elsewhere and we will be by ourselves. All we are doing is printing enough to quell social unrest.
Up In Smoke
Well-Known Member
The M1 and M2 money supplies show the Treasury is removing currency from our economy through QT. Powell committed to 90 billion per month going forward. We went from 4T to 18T in circulation in 2020 alone. To get back to 4T will take decades if ever.
Not really. It’s all part of the economic cycle. Increased fuel prices (which are coming down) aren’t an outside force on the economy. In fact, energy in general is most like the most integral component of an economy.
newolddude
Well-Known Member
Recessions are the tough medicine to prevent depressions. They have a function and are part of the normal economic cycle.
But all these boomers exiting the labor market is interesting.
But all these boomers exiting the labor market is interesting.
They aren't? Shipping costs aren't passed on to the consumer? Higher gas costs don't cut into discretionary spending?
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