Unprecedented plunge in Fourth of July gas prices

Before you trot out a post blaming Biden for something beyond his control (lower prices too) perhaps you ought to Google it. You know, in the interest of fairness.

 

Sure, after you explain the economics of gas prices during a pandemic.

 

I will give this a shot. At the height of the pandemic, after what some people claim to be a stolen election, gas prices were about $2.50 a gallon. Then “President” Biden signed multiple “executive” orders shutting down pipelines, cancelling oil leases and banning drilling. Due to lowering the supply of oil and gas, while not simultaneously lowering the demand, the price of crude and gasoline predictably rose, which was actually the intent of the woke puppeteers of sleepy Joe. Make gas too expensive to buy in order to decrease seasonal weather patters like heat, snow and pesky hurricanes. In summation, gasoline was used as a cudgel to achieve a wacky social agenda goal.
I’m here all week. Try the veal. Next……….

 

It won't help them much. Oil demand has been shrinking for awhile now.

https://www.nasdaq.com/articles/oil...e-hikes-and-slowing-demand-curb-earlier-gains

 

I know you want to blame everything on Biden but that's not how it works. Oil companies lowered the supply of oil all on their own. Why? Because demand was way down. Why? Because we were in the middle of a pandemic.

 

Here is US field production of Crude Oil, can you identify where Biden lowered the supply of oil?

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

 

1) the production cuts earlier this year didn’t stop oil prices from falling
2) It’s voluntary any cuts will come from Saudi
3) Non opec countries will fill much if not most of the cuts by Saudi (if they materialize),
4) until China gets their economy going again, oil prices are going to continue to Trend down.

 

Us crude production in 2022 was the 2nd highest in our history.

NG production hit a new record in 2022

 

https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html

Uhmmmm, are the oil companies named Biden? HOLY SHIT, ITS A TRAP

 

I do know a recent prez who actively cut supply in order to pursue an agenda...


Trump Tweet Sends Oil Soaring 25%
By Tsvetana Paraskova - Apr 02, 2020, 10:30 AM CDT
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Oil prices spiked on Thursday morning after U.S. President Donald Trump said that he spoke with the Saudi Crown Prince, and hoped and expected that Saudi Arabia and Russia would “cut back approximately 10 Million Barrels, and maybe substantially more,” sending oil prices soaring by 20 percent.

“Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!” President Trump tweeted on Thursday.

 

GREAT JEHOSHAPHAT. Look what came across my facts machine. That dip look just about the time of inauguration…. But more likely pandemic related than human related

 

Man I totally forgot that. In my defense Trump did so many things on a daily basis to harm American interests that it was impossible to keep track of every thing. And yes those Iran Invasion plans currently reside in MbS”s office.

 

what was the agenda? Oh yeah, saving the US petroleum industry. That Trump…what a peckerhead!

 

yep. welfare

& while you're on your socialist rant, maybe you can explain what the US petroleum industry is? Despite, your dreams, it isn't a nationalized industry

 

If you look into the actual numbers, that dip is from March 2020 down about 0.8 million barrels a day to April 2020 and then down again about 2.2 million more barrels per day to May 2020. Biden's inauguration was January of 2021.

Edit: Since I've got the dataset open, Trump averaged 10.9 million barrels per day while Biden has averaged 11.7 million barrels per day in domestic oil production.

 

Says the soon to be 3 time trump voter.

 

That was for new leases on public lands. What about all the wells that oil producers voluntarily shut down due to the collapse in demand? Oil producers had plenty of wells they could reactivate, and they have, but slowly. Just try to have little intellectual honesty about this stuff. All the data is out there for everyone to see so it's not like you're fooling anyone.

 

rude. I'm willing to give him the benefit of the doubt that he's that stupid.

 

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