When gas prices are low they give all the credit to the President but when gas prices are high they put all blame on the current President. To my understanding gas price fluctuations are due to many different complex situations and the President has very little to no effect on gas prices. If you think a President has significant effect on gas prices can you provide sources to this information?
OPEC+ cut is Trump's 'biggest and most complex' deal ever: Dan Yergin (cnbc.com) This deal was made as oil prices were cratering from demand falling off sharply due to COVID. The "+" means Russia, Mexico, the United States, and seven other major oil producers. Back in April 2020, so the agreement is still technically in effect. Trump worked very hard to manipulate the market and artificially constrain supply, and it probably made sense back then but two years later...
To be fair while Trump was claiming victory with $2 gas no one needed since they were locked in their house he was taking criticism for hundreds of thousands of deaths and trillions in lost economic value.
I’m so thankful we now have a President that actually reads his daily briefings. Actually I’m so thankful we now have a President that can read and doesn’t need to have the daily briefings read to him while he’s being tucked into bed.
Current gas prices are due to a mix of factors: 1) The geopolitical state of affairs. Biden and the DNC's posturing towards NATO expansion was different than Trump's. So, the Democrats and NATO expansionists escalated the conflict with Russia. We are seeing the fruit of that geopolitical policy on gas prices right now. 2) Biden put extreme regulations on oil companies the moment he entered office. Oil companies don't trust this administration like they trusted the Trump administration, and so our domestic production of oil has plummeted from the level of domestic production we saw at the tail end of the Trump administration. Biden is pandering to climate extremists to gridlock domestic oil production through overregulation of the oil industry, while simultaneously blaming the oil companies for the gridlock his policies caused. That is all on Biden and the Democrats.
Oil is a commodity so the price is determined by supply and demand. How the current administration policies can affect supply and demand are what can be open to criticism or praise.
Trump's postering was very similar and he basically ignored Putin's concerns of Ukraines interest in joining NATO even back then. Putin says he warned Trump against closer NATO ties with Ukraine and Georgia You also gave no source as this being a reason as to why gas prices are increasing. Can you provide sources for the regulations? And that they were considered extreme? And that they had an effect on gas prices? History shows increasing oil production doesn't necessarily translate to lower gas prices. https://www.washingtonpost.com/poli...cing-more-oil-lower-gas-prices-it-hasnt-past/
You are correct that Biden has a different posture towards NATO. And maybe that did escalate the conflict with Russia. But we're better off with a strong NATO, and Trump wanted us out of the alliance. Which is what Putin wanted too. I.e., Trump was Putin's puppet when it came to NATO. Paying more for gas is a small price to pay if you care about Ukraine freedom and democracy. We know Putin waited until after the Olympics to invade, per a request from China. Wouldn't surprise me if Putin also waited for high gas prices, knowing that cutting a buy of Russian oil would hurt the west economically, and Americans/Europeans may not have an appetite for the gas prices we are seeing. As for extreme regulations, can you give examples? And examples of how this has slowed down domestic oil production? Good luck. Because the reality? Oil production is ramping up domestically, and expected to hit record levels in 2022. The previous record was 2019, but something happened in 2020, i.e., the global pandemic, that put a huge dent in oil demand. Prices dropped, which caused production to drop. Certain drills became unprofitable and shut down. The rise in prices have made these drills profitable again, and I can assure you, they are open again. Which is one of the reasons domestic production in 2022 will likely surpass 2019.
Oil does not follow a supply and demand curve. It is largely driven by emotion like stocks. There is more oil now than there was 3 months ago and less demand.
According to the US Energy Information Administration that is not correct. 2020 was 11,283 barrels per day 2021 was 11,185 barrels per day. U.S. Field Production of Crude Oil (Thousand Barrels per Day)
But if only Norway would be energy independent! Oh wait, they produce nearly 10x what they demand in oil. Almost as if for-profit oil companies don't sell to the local area for less profit if they could export it for more...
I would say this comment suits the current president who right now is enjoying his daily 11:00am pre-lunch nap.
Petty, weak sauce. For someone who's posting on internet forum at 11am, you sure are snarky about someone dealing with a geo-political crisis.
the administration lied, i am shocked.and by the way, why did biden get credit for covid finally running it's course, he was in office when it happened
