Biden Gas hits 4.00 in Kansas City....

[Remodeling Maidiac]

Just paid over a hundred bucks for just under a full tank of gas.



Thanks Biden!

 

[eagle1462010]

$3.89 here lower Miss.

 

[alang1216]

Just paid over a hundred bucks for just under a full tank of gas.

Thanks Biden!

What is the connection between Biden and your gas price?

 

[pknopp]

Oil is under $100 today. Nowhere near the highs of $144 in 2008.

 

[eagle1462010]

Attacking its production here since day 1

 

[JoeMoma]

It was $4.09 at the place I usually get gas this morning, and it's the cheapest place around my area (within probably a 10 mile radius or more). I filled my tank up when it was 3.999 a gallon just a couple of days ago. I drive a Tacoma, so it wasn't a hundred bucks yet but I will not be surprised if it's there in a few more weeks.

 

[Mr Natural]

Only $4.00?

Consider yourself lucky.

 

[pknopp]

Attacking its production here since day 1

Exxon has said it expected to increase its production from the Permian by 100,000 barrels per day this year, on top of a sharp ramp up last year to 460,000 barrels per day.

U.S. oil industry prepares to boost production — but with a giant warning

Who is attacking production?

 

[JoeMoma]

Someone is getting rich selling the "I did that" stickers.

 

[night_son]

Just paid over a hundred bucks for just under a full tank of gas.



Thanks Biden!

You're behind the trend. Basic unleaded is up to $4.60/gal. here in PA and diesel is passing $6.30.

 

[night_son]

What is the connection between Biden and your gas price?

Hmm . . . what was the connection between Trump and $1.70/gal. gas this time two years ago? I wonder . . .

 

[pknopp]

Hmm . . . what was the connection between Trump and $1.70/gal. gas this time two years ago? I wonder . . .

The country shut down over Covid.

 

[Remodeling Maidiac]

What is the connection between Biden and your gas price?

GTFO with that bullshit.

Like EVERY PRESIDENT IN HISTORY, he owns the economy he presides over.

 

[alang1216]

GTFO with that bullshit.

Like EVERY PRESIDENT IN HISTORY, he owns the economy he presides over.

Like every president he gets the blame for everything and the power to do nothing.

 

[alang1216]

Hmm . . . what was the connection between Trump and $1.70/gal. gas this time two years ago? I wonder . . .

It’s a politicized country, so every problem must have a political origin. And if you’re the U.S. president when gasoline prices soar above $4 per gallon, you’ve got some explaining to do.

But President Biden has not caused the current spike in gas prices, even though critics put the blame on him. It’s true that Biden is no friend of the U.S. oil and gas industry. His plan to move from fossil fuels to renewables would marginalize oil and gas, and probably dent industry profits over time. But Biden’s energy and climate plans are nowhere near fruition, and meanwhile economic forces, not political ones, are causing tight oil supplies and pushing prices upward.

“Biden administration policies haven’t really done anything to reduce U.S. oil production,” Raoul LeBlanc, vice president of the energy practice at S&P Global, told Yahoo Finance. “They may do so in the future. But right now, that’s not the root of the reason U.S. oil and gas production is not ramping up.”

So what is pushing oil and gas prices up? Mainly it’s an effort by oil firms in the United States and elsewhere to resist overproducing, which has torpedoed profits many times in the past and, here in the U.S., caused billions of dollars in losses for oil producers and their investors. Russia’s invasion of Ukraine and the resulting sanctions have limited oil supplies from Russia, the world’s third-largest producer, accounting for a 20% price spike since Russia invaded on Feb. 24. But supply was tightening and oil prices were rising before then, as drillers worldwide adapted to a world weaning itself off fossil fuels. Since oil accounts for more than half the cost of gasoline, gas prices rise and fall in tandem with oil prices.

Americans casually familiar with hydraulic fracturing, the new drilling technology that led to a surge in U.S. oil and gas production starting around 2010, may think ample energy sources now mean American firms can drill for oil and gas at will. What many forget is that U.S. oil and gas drilling is a private-sector industry—not a government ministry—and drillers still need to make a profit. For much of the last decade, they failed to do that.

 

[mamooth]

That's right. Biden controls the world's gasoline prices. The Trump cult doesn't know how, but they know it. After all, TheParty told them it was true.

The lesson? Friends don't let friends catch Biden Derangement Syndrome.

 

[pknopp]

GTFO with that bullshit.

Like EVERY PRESIDENT IN HISTORY, he owns the economy he presides over.

That is true. While the inflation has many reasons and those reasons go back years, he will take the hit on election day. That's just how it works.

 

[pknopp]

It’s a politicized country, so every problem must have a political origin. And if you’re the U.S. president when gasoline prices soar above $4 per gallon, you’ve got some explaining to do.

But President Biden has not caused the current spike in gas prices, even though critics put the blame on him. It’s true that Biden is no friend of the U.S. oil and gas industry. His plan to move from fossil fuels to renewables would marginalize oil and gas, and probably dent industry profits over time. But Biden’s energy and climate plans are nowhere near fruition, and meanwhile economic forces, not political ones, are causing tight oil supplies and pushing prices upward.

“Biden administration policies haven’t really done anything to reduce U.S. oil production,” Raoul LeBlanc, vice president of the energy practice at S&P Global, told Yahoo Finance. “They may do so in the future. But right now, that’s not the root of the reason U.S. oil and gas production is not ramping up.”

So what is pushing oil and gas prices up? Mainly it’s an effort by oil firms in the United States and elsewhere to resist overproducing, which has torpedoed profits many times in the past and, here in the U.S., caused billions of dollars in losses for oil producers and their investors. Russia’s invasion of Ukraine and the resulting sanctions have limited oil supplies from Russia, the world’s third-largest producer, accounting for a 20% price spike since Russia invaded on Feb. 24. But supply was tightening and oil prices were rising before then, as drillers worldwide adapted to a world weaning itself off fossil fuels. Since oil accounts for more than half the cost of gasoline, gas prices rise and fall in tandem with oil prices.

Americans casually familiar with hydraulic fracturing, the new drilling technology that led to a surge in U.S. oil and gas production starting around 2010, may think ample energy sources now mean American firms can drill for oil and gas at will. What many forget is that U.S. oil and gas drilling is a private-sector industry—not a government ministry—and drillers still need to make a profit. For much of the last decade, they failed to do that.

Which is why bidding on oil should only be done by end users, not just anyone. There is plenty of oil but "speculators" will use any excuse to run the price up.

 

[alang1216]

Which is why bidding on oil should only be done by end users, not just anyone. There is plenty of oil but "speculators" will use any excuse to run the price up.

It's called capitalism. The system is terrible but it is still better than any other.

 

[Devils_Advocate]

Just paid over a hundred bucks for just under a full tank of gas.



Thanks Biden!

Four dollars here in Texas, so I feel the pain… I mean the joy!