$7/gallon gas is coming

[Anonymous]

There’s a few steps between pumping crude oil from the ground and putting petrol into your gas tank. The US continues to lose refining capacity.

https://www.npr.org/2022/06/26/1107265390/refinery-shortage-high-gas-prices-russia

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.reuters.com/business/energy/exxons-record-smashing-q3-profit-nearly-matches-apples-2022-10-28/

Exxon 20B PROFIT (not revenue)

There is your "7/gal" straight to the shareholders in the form of dividends and stock prices.

Similar for everything that's overpriced. This has been explained over and over. Companies are reaping HUGE profits. People are paying up. So there is no reason for them to lower prices again. You want to blame someone, blame corporations and their greed. Much easier, I guess, to continue to lie and say it is Biden's fault. What else would I expect from the GOP.

If there is more oil available for drilling, then the oil companies will sell more at a lower price. Instead, with the restrictions, they raise the price so the amount sold will match with demand, rather than being out of inventory.

It will take more than a decade for the leases the GOP wants, to be come productive. It has ZERO impact on the price of oil today. But that is how the GOP gaslights. In fact...

Mar 2020 13 million, less production because demand crashed for some reason after that...

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

Biden reopened the economy, isn’t that what you wanted? Why weren’t oil companies prepared for the thing they asked for?

Because Biden restricted drilling. New leases through this point of a presidency are at approximately 1% of what they were under recent presidents. You'd have to go back 50 years to find comparable numbers.

Biden did no such thing.

The issue is that Trump trashed the refineries.

What Biden has restricted is future leases that wouldn't take effect for decades.

So the oil companies should sell now and have nothing to sell in the future?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.reuters.com/business/energy/exxons-record-smashing-q3-profit-nearly-matches-apples-2022-10-28/

Exxon 20B PROFIT (not revenue)

There is your "7/gal" straight to the shareholders in the form of dividends and stock prices.

Similar for everything that's overpriced. This has been explained over and over. Companies are reaping HUGE profits. People are paying up. So there is no reason for them to lower prices again. You want to blame someone, blame corporations and their greed. Much easier, I guess, to continue to lie and say it is Biden's fault. What else would I expect from the GOP.

If there is more oil available for drilling, then the oil companies will sell more at a lower price. Instead, with the restrictions, they raise the price so the amount sold will match with demand, rather than being out of inventory.

It will take more than a decade for the leases the GOP wants, to be come productive. It has ZERO impact on the price of oil today. But that is how the GOP gaslights. In fact...

Mar 2020 13 million, less production because demand crashed for some reason after that...

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

Biden reopened the economy, isn’t that what you wanted? Why weren’t oil companies prepared for the thing they asked for?

Because Biden restricted drilling. New leases through this point of a presidency are at approximately 1% of what they were under recent presidents. You'd have to go back 50 years to find comparable numbers.

Biden did no such thing.

The issue is that Trump trashed the refineries.

What Biden has restricted is future leases that wouldn't take effect for decades.

I stand corrected, Trump and Obama before him had the lowest numbers in 50 years.
Biden is at 3% of Trump's number

Kennedy 3.38 million
Johnson 1.79 million
Nixon 1.87 million
Ford 10.23 million, basically his entire term with Dick Cheney as Chief of Staff
Carter 11.77 million
Reagan 47.58 million
Bush 17.23 million
Clinton 9.69 million
Bush 12.74 million
Obama 7.25 million
Trump 4.4 million
Biden 0.13 million

https://www.instituteforenergyresearch.org/fossil-fuels/gas-and-oil/bidens-abysmal-oil-and-gas-lease-record/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.reuters.com/business/energy/exxons-record-smashing-q3-profit-nearly-matches-apples-2022-10-28/

Exxon 20B PROFIT (not revenue)

There is your "7/gal" straight to the shareholders in the form of dividends and stock prices.

Similar for everything that's overpriced. This has been explained over and over. Companies are reaping HUGE profits. People are paying up. So there is no reason for them to lower prices again. You want to blame someone, blame corporations and their greed. Much easier, I guess, to continue to lie and say it is Biden's fault. What else would I expect from the GOP.

If there is more oil available for drilling, then the oil companies will sell more at a lower price. Instead, with the restrictions, they raise the price so the amount sold will match with demand, rather than being out of inventory.

It will take more than a decade for the leases the GOP wants, to be come productive. It has ZERO impact on the price of oil today. But that is how the GOP gaslights. In fact...

Mar 2020 13 million, less production because demand crashed for some reason after that...

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

Biden reopened the economy, isn’t that what you wanted? Why weren’t oil companies prepared for the thing they asked for?

Because Biden restricted drilling. New leases through this point of a presidency are at approximately 1% of what they were under recent presidents. You'd have to go back 50 years to find comparable numbers.

Biden did no such thing.

The issue is that Trump trashed the refineries.

What Biden has restricted is future leases that wouldn't take effect for decades.

I stand corrected, Trump and Obama before him had the lowest numbers in 50 years.
Biden is at 3% of Trump's number

Kennedy 3.38 million
Johnson 1.79 million
Nixon 1.87 million
Ford 10.23 million, basically his entire term with Dick Cheney as Chief of Staff
Carter 11.77 million
Reagan 47.58 million
Bush 17.23 million
Clinton 9.69 million
Bush 12.74 million
Obama 7.25 million
Trump 4.4 million
Biden 0.13 million

https://www.instituteforenergyresearch.org/fossil-fuels/gas-and-oil/bidens-abysmal-oil-and-gas-lease-record/

Who needs new leases when those other leases are still in place and many have not been developed? All the most promising sites have been leased. Why haven’t they been developed?

[Anonymous]

Oil and gas production is taking place on only half of the 26 million acres of leased public lands. The remainder is effectively stockpiled by the oil and gas industry. Yet they want to buy more and more leases which shortchange the public when it comes to any eventusl royalties.

[Anonymous]

Somehow Trump was able to get prices down to below $2 a gallon despite oil companies' greed.
Oil production on only half of land? Has it occurred to you that not all land that is leased has oil that can be extracted at a reasonable cost?

[Anonymous]

https://apnews.com/article/iran-europe-middle-east-saudi-arabia-government-and-politics-cff3d00953fb83b3aa7aa4e974b2b96c

Saudis tell the Pentagon that they think Iran is going to att ak them.

Why do they think we care after they just price gouged us with oil? Can the Pentagon afford to defend a country who would do something like that right before an election? I hope not!

[Anonymous]

Anonymous wrote:Somehow Trump was able to get prices down to below $2 a gallon despite oil companies' greed.
Oil production on only half of land? Has it occurred to you that not all land that is leased has oil that can be extracted at a reasonable cost?

Yes, when you give state secrets to the Saudi's and let them bone saw journalists, that is the reward.

[Anonymous]

If Trump had been reelected, gas would be below $2 a gallon right now, and Russia would have less money to spend on its war in Ukraine.

[Anonymous]

Anonymous wrote:If Trump had been reelected, gas would be below $2 a gallon right now, and Russia would have less money to spend on its war in Ukraine.

And cats and dogs would be living in peace if not for those damn leftists!

[Anonymous]

Anonymous wrote:If Trump had been reelected, gas would be below $2 a gallon right now, and Russia would have less money to spend on its war in Ukraine.

There is no bottom to the stupidity.

[Anonymous]

This thread proves that Republicans are ill informed voters. As well as brain washed. It's actually quite sickening.

[Anonymous]

Joe Biden plans to increase energy bills even more, by cutting back on coal and natural gas plants and mandating wind and solar.

[Anonymous]

Anonymous wrote:This thread proves that Republicans are ill informed voters. As well as brain washed. It's actually quite sickening.

I think we all have our blind spots in various issues, but they’re Dunning Kruger on everything. They know everything. They are the subject masters. They know more than the experts and opinions linked, always.

[Anonymous]

Anonymous wrote:Joe Biden plans to increase energy bills even more, by cutting back on coal and natural gas plants and mandating wind and solar.

Does anyone want to bet that this pp complained a page or two back about our lack of energy independence?