Gas Hits $8.50 in California

Let’s go Brandon!
Let’s go Newsom!
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Aggie Football is RICHER THAN GOD!!!

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In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.
Hearsay from a completely unreliable biased source. Was Col. Vindeman listening in, by any chance?
 
America has never been energy independent....that is a fairy tale
No, you haven't a clue about what you are talking about.

"U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years. Thus, the U.S. attained the long-held goal of “energy independence”—which is not to say that we did not import or export energy, but that we produced more energy than we used. One can thank the oil and gas industry and its use of hydraulic fracturing and horizontal drilling for that milestone as production in those industries increased a combined 11 percent in 2019. Total U.S. energy production increased by 5.7 percent in 2019 while U.S. energy demand decreased by 0.9 percent. The United States produced 101.0 quadrillion British thermal units (quads) of energy and consumed 100.2 quads last year. Fossil fuels accounted for 80 percent of both energy consumption and production in 2019."

 
And yet 100% of the price increase is blamed solely on Biden even though he had nothing to do with the production cuts that are now causing the prices to increase.
People will always blame the CEO if the company struggles and give kudos to the workers if does well. It is called human nature. Biden's issue is that he is a terrible communicator.
 
Hearsay from a completely unreliable biased source. Was Col. Vindeman listening in, by any chance?

Trump's own fucking words from a tweet by him....

“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!
 
And when it doesn't?
It will. You cant expect oil production and shipping to come back online immediately. That is impossible. It's forecasted that inflation will return to around the 3% level by 2022, due in large part to supply chains becoming fully functional again. So yes, if there isnt a noticeable difference in gas prices to the downside within 2022, there is something wrong. Or Covid spiked again during the winter, which is always a possibility I suppose.
 
Again the cuts to US production happened under Trumpybear's last year in office.

We haven't been oil independent in 75 years.



"Biden orders reversal of Trump’s ‘energy independence’ policies

On January 27, President Biden issued executive orders which did just the opposite. He revoked the federal permit for the continued construction of the Keystone XL Pipeline, which will cost 11,000 jobs (8,000 are union jobs), and he temporarily stopped granting permits for oil and gas operations on federal lands, which will reduce U.S. oil production and was immediately challenged with a lawsuit.



For the oil and gas industry, Biden’s orders specifically mentions methane emission regulations to establish comprehensive standards of performance and emission guidelines from existing oil and gas operations by September 2021.



Additionally, the order requires Texas to submit State Implementation Plan for Ozone National Ambient Air Quality Standards (NAAQS) by January 2022.



The governments of Canada and Alberta wanted the pipeline completed because it would transport some 830,000 barrels of oil sands every day to consumers in the U.S. Proponents argued that the pipeline would transport a much needed resource from a North American neighbor instead of importing oil by tanker from far away countries.



However, Biden stated in his order the “pipeline would not serve the U.S. national interest.”



Supporters of allowing the development of petroleum resources on federal lands pointed out the change will be costly, and it was challenged immediately with the filing of a lawsuit in the U.S. District Court in Wyoming.



“Restricting development on federal lands and waters is nothing more than an ‘import more oil’ policy,” Mike Sommers, president of the American Petroleum Institute, said.



“With this move, the administration is leading us toward more reliance on foreign energy from countries with lower environmental standards and risks to hundreds of thousands of jobs and billions in government revenue for education and conservation programs.”



Sommers said a permanent federal leasing ban would result in U.S. oil imports rising 2 million barrels per day by 2030, and U.S. gross domestic product declining $700 billion during the same span.



Texas would lose 120,000 jobs, and about 1 million jobs could be lost by 2022 nationwide.



The federal government could lose an estimated $9 billion in taxes, lease bonuses, and royalties.



With dwindling supplies, many forecast rising petroleum prices and U.S. household could spend a cumulative $19 billion more on energy by 2030, the API study stated.


Biden’s executive orders will reduce U.S. oil supplies that reached historic levels of 13 million barrels per day just one year ago.



The increase in production allowed the U.S. to become a net exporter of oil and natural gas. It was labeled by some as an “energy renaissance” and others called it “energy independence.”

 
Gas was 99 cents for me in your highlighted date, Dufus.

Yep, and then Trump got people to slash production and your prices started going up.

Do us all a favor, go get your GED and take a class on Supply and Demand.

Fucking inbred morons.
 

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