How many of you Biden supporters that said the ban on Oil exploration by Biden didn't have an affect on prices???

[BlindBoo]

We can all spin this until we pass out from motion sickness. The truth of the matter is, gas prices have skyrocketed under Biden and they were very low under Trump. All the finger pointing and caterwauling by liberal useful idiots won’t change that, nor will it change the electorate’s desire for change come this November.

In the summer of 2018 gas prices were averaging very near 3 dollars a gal. Hardly very low.

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

 

[Orangecat]

In the summer of 2018 gas prices were averaging very near 3 dollars a gal. Hardly very low.

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

I’d rejoice right now if I found a station selling gas for $3/gallon. Your spin is a fail.

 

[BlindBoo]

Ever heard of using the Internet???

Biden administration to resume leasing for oil and gas drilling on federal lands​

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.nbcnews.com

None of that supports your claim that oil exploration companies were stopped from doing any seismic survey's on federal land.

 

[healthmyths]

We can all spin this until we pass out from motion sickness. The truth of the matter is, gas prices have skyrocketed under Biden and they were very low under Trump. All the finger pointing and caterwauling by liberal useful idiots won’t change that, nor will it change the electorate’s desire for change come this November.

Facts support your point!
Prices under Trump in April 2020 at $1.938/gal.
Today under Biden $4.213 or $2.28 or 117%

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

 

[BlindBoo]

I’d rejoice right now if I found a station selling gas for $3/gallon. Your spin is a fail.

It was 3.49 last week in Houston.

Your claim that gas prices under Trump were very low is debunked. The only time it was very low was when the economy shut down.

 

[BlindBoo]

Prices under Trump in April 2020 at $1.938/gal.

On April 20, 2020, the front-month May 2020 WTI crude contract dropped 306%, or $55.90, for the session, to settle at negative $37.63 a barrel on the New York Mercantile Exchange.

Which led to the massive cut in oil production world wide that the industry has yet to recover from.

 

[healthmyths]

On April 20, 2020, the front-month May 2020 WTI crude contract dropped 306%, or $55.90, for the session, to settle at negative $37.63 a barrel on the New York Mercantile Exchange.

Which led to the massive cut in oil production world wide that the industry has yet to recover from.

Prove it! Who in the hell is someone who identifies as "BLIND"? Where is your proof? ZERO! Don't believe a word you say and even more so here is MY proof you are full of crap!

Oil prices went negative a year ago: Here's what traders have learned since

It’s been a year since the U.S. benchmark West Texas Intermediate crude futures settled at a negative price for the first time, and while prices have...

www.marketwatch.com

Producers did not want to halt production, hoping that the low prices wouldn’t last long and OPEC+ could not immediately agree on policy, said Tonhaugen. At the same time, “oil storage was filling up quickly, forcing oil tankers to become floating storage.”“When that bubble was about to break, panic took over and traders who couldn’t take on and store any more product they wouldn’t be able to sell,” he said. They “tried to offload their excess commitments, but nobody wanted to buy.:
Now your statement: "has yet to recover from"
AGAIN FACTS...
We should remember that both oil’s sharp drop to negative prices and its rise to 14-year highs are largely the result of the economic fallout of the coronavirus pandemic,” says Matthew Sherwood, global economist at the Economist Intelligence Unit. And no one expected the world to potentially be on the “precipice of a global war, with Russia’s full-scale invasion of Ukraine” sending oil well above $100, he says.

Where oil stands 2 years after its historic drop below zero dollars a barrel

Nearly two years have passed since U.S. benchmark West Texas Intermediate oil settled below zero dollars a barrel. But the shock from the one-day plunge...

www.marketwatch.com

So why don't you do a little research before writing YOUR opinions which are generally exaggerations!
"has yet to recover from"

 

[BlindBoo]

Prove it! Who in the hell is someone who identifies as "BLIND"? Where is your proof? ZERO! Don't believe a word you say and even more so here is MY proof you are full of crap!

Oil prices went negative a year ago: Here's what traders have learned since

It’s been a year since the U.S. benchmark West Texas Intermediate crude futures settled at a negative price for the first time, and while prices have...

www.marketwatch.com

Producers did not want to halt production, hoping that the low prices wouldn’t last long and OPEC+ could not immediately agree on policy, said Tonhaugen. At the same time, “oil storage was filling up quickly, forcing oil tankers to become floating storage.”“When that bubble was about to break, panic took over and traders who couldn’t take on and store any more product they wouldn’t be able to sell,” he said. They “tried to offload their excess commitments, but nobody wanted to buy.:
Now your statement: "has yet to recover from"
AGAIN FACTS...
We should remember that both oil’s sharp drop to negative prices and its rise to 14-year highs are largely the result of the economic fallout of the coronavirus pandemic,” says Matthew Sherwood, global economist at the Economist Intelligence Unit. And no one expected the world to potentially be on the “precipice of a global war, with Russia’s full-scale invasion of Ukraine” sending oil well above $100, he says.

Where oil stands 2 years after its historic drop below zero dollars a barrel

Nearly two years have passed since U.S. benchmark West Texas Intermediate oil settled below zero dollars a barrel. But the shock from the one-day plunge...

www.marketwatch.com

So why don't you do a little research before writing YOUR opinions which are generally exaggerations!
"has yet to recover from"

World Crude Oil Production Monthly Trends: International Energy Statistics | YCharts

In depth view into World Crude Oil Production including historical data from 1973 to 2024, charts and stats.

ycharts.com

 

[Winston]

You wrote: that I said "Biden has not banned exploration on public lands, has not stopped production on public land, and has not even stopped issuing permits. Your entire premise here is based on a false assumption."

I never ever wrote Biden stopped production! THAT's such a LIE!!! Admit it! In all my posts I said he STOPPED
"production on land that provided 24% of our oil and gas! That was a lie!
Again BIDEN admitted it! He has allowed the leasing of oil/gas exploration on Federal lands.
FACTS: Biden administration to resume leasing for oil and gas drilling on federal lands
PUBLISHED FRI, APR 15 2022

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.cnbc.com

You evidently don't understand the distinction.
A) You can't produce oil and gas without exploration.
B) You can't explore on Federal Lands without buying Federal oil/gas exploration leases.
C) ONLY after spending up to 10 years in exploring and developing an oil field can you start production!

Field Development Phase - Oil & Gas Portal

www.oil-gasportal.com

In summary If Biden didn't ban exploration 7 days into his presidency (Biden suspends oil and gas leasing in slew of executive actions on climate change PUBLISHED WED, JAN 27 2021)
then why did he resume leasing on 4/15/22???

So, just to clarify-your position is that the Biden administration halted the selling of those leases seven days into his administration and did not resume that leasing until April 15, 2022.

 

[Winston]

Ever heard of using the Internet???

Biden administration to resume leasing for oil and gas drilling on federal lands​

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.nbcnews.com

View attachment 643188

Ever hear of reading your links?

In late February, the administration said it was delaying decisions on new oil and gas drilling on federal land after a federal court blocked federal agencies from using an estimate known as the “social cost of carbon” to evaluate the damage done by carbon emissions stemming from energy production.

Six weeks. A six week "delay".

 

[healthmyths]

So, just to clarify-your position is that the Biden administration halted the selling of those leases seven days into his administration and did not resume that leasing until April 15, 2022.

I'm not saying it.

I often do no make comments without substantiation.

April 15, 2022, 4:59 PM CDT / Updated April 15, 2022, 6:27 PM CDT
By Josh Lederman and Zoë Richards
WASHINGTON — The Biden administration said it will resume selling leases to drill for oil and gas on federal lands starting next week, but with a major reduction in the number of acres offered and an increase in the royalties companies must pay to drill.

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.nbcnews.com

Increase in royalties decrease number of acres.
Think that helps the issue?

 

[healthmyths]

Ever hear of reading your links?

In late February, the administration said it was delaying decisions on new oil and gas drilling on federal land after a federal court blocked federal agencies from using an estimate known as the “social cost of carbon” to evaluate the damage done by carbon emissions stemming from energy production.

Six weeks. A six week "delay".

Maybe you should be advising NBC News....
April 15, 2022, 4:59 PM CDT / Updated April 15, 2022, 6:27 PM CDT
By Josh Lederman and Zoë Richards
WASHINGTON — The Biden administration said it will resume selling leases to drill for oil and gas on federal lands starting next week, but with a major reduction in the number of acres offered and an increase in the royalties companies must pay to drill.

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.nbcnews.com

And remember... a major reduction in the number of acres offered and an increase in the royalties companies must pay to drill.

This means higher costs which translates into higher prices at the pump!

 

[busybee01]

And I bet you are a believer that this price of gas is totally attributed as my local news cast suggest to Russia invading Ukraine! Yes the cause is because Russian oil is being disrupted.
Hmmm.. Interesting when the media covers up for Biden. Especially when FACTS totally refute this!

Biden blames Putin for high gas prices — but this timeline proves it’s the prez’s own fault​

Joe Biden
stated on March 14, 2022 in a speech to the National League of Cities:
“Make no mistake: The current spike in gas prices is largely the fault of Vladimir Putin.”

How much blame does Putin deserve for high gasoline prices?

President Joe Biden recently cast blame for a spike in gas prices on Russian President Vladimir Putin. "We’ve seen the p

www.politifact.com

NOTE: politifact.com agrees with Biden! Said this was a TRUE statement!
So folks why didn't politifact.com look at this table?
First of all how much oil is used by the USA per year? Well In 2021, the United States consumed an average of about 19.78 million barrels of petroleum per day, or a total of about 7.22 billion barrels of petroleum.

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

Hmmm 7,220,000,000 barrels used by USA in 2021...
Hmmm The USA imported 245,194,000 barrels in 2021 from Russia.
That is 20,432,833 barrels per month or 675,465 barrels per day in 2021!
245,194,000 barrels from Russia in 2021 divided by 7,220,000,000 barrels used by USA per year...
HMMM>>>>> that's 3.3% of the USA total used!
Just 3.3% of USA total from Russia... Wow certainly affects price!
TELL me folks when does 3.3% translate into affecting price of gas?
It is just amazing how local news, MSM and even the supposedly (Politifact.org WRONG!
check out this web site regarding politifact.org!!!) PolitiFact Bias

Chart: How much oil does the US actually import from Russia?

The U.S. is the world's top oil producer, but it still imports oil from around the world. See the top 10 suppliers.

www.canarymedia.com

View attachment 642924

You do not have a clue what the facts are.

FACT 1: Biden sold more leases on federal land than Donald Trump did in his first year.

FACT 2: Pre-pandemic, there were 800 oil rigs in operation. Today there are 650 in operation. Why have oil companies not re-opened the remaining 150? Because they want to keep supply down.

FACT 3: A Dallas Fed survey of OIL EXECUTIVES say that by a 59%-7% margin that shareholders not the government are preventing them from drilling. I suppose they are lying which they are not.

 

[busybee01]

You wrote: that I said "Biden has not banned exploration on public lands, has not stopped production on public land, and has not even stopped issuing permits. Your entire premise here is based on a false assumption."

I never ever wrote Biden stopped production! THAT's such a LIE!!! Admit it! In all my posts I said he STOPPED
"production on land that provided 24% of our oil and gas! That was a lie!
Again BIDEN admitted it! He has allowed the leasing of oil/gas exploration on Federal lands.
FACTS: Biden administration to resume leasing for oil and gas drilling on federal lands
PUBLISHED FRI, APR 15 2022

Biden administration to resume leasing for oil and gas drilling on federal lands

The move comes as President Joe Biden seeks new ways to help lower gas prices.

www.cnbc.com

You evidently don't understand the distinction.
A) You can't produce oil and gas without exploration.
B) You can't explore on Federal Lands without buying Federal oil/gas exploration leases.
C) ONLY after spending up to 10 years in exploring and developing an oil field can you start production!

Field Development Phase - Oil & Gas Portal

www.oil-gasportal.com

In summary If Biden didn't ban exploration 7 days into his presidency (Biden suspends oil and gas leasing in slew of executive actions on climate change PUBLISHED WED, JAN 27 2021)
then why did he resume leasing on 4/15/22???

Biden suspended leasing for 60 days. Furthermore oil companies have over 9,000 leases that they have not used. These new leases will have to compete with over 9,000 leases that they already own. Oil companies will only spend so much for exploration. They started cutting back during the Trump years.

 

[busybee01]

Oh my Thor.

You don't know how supply and demand works.

You don't know how the oil industry works. They understand supply and prices perfectly. Keep supplies low and prices high.

 

[busybee01]

So is it true dummies like you think that oil found in 2021 is pumped and counted in 2021?
The development of an oil and gas field costs millions of dollars and may require long time (5-10 years) to be fully realized.http://www.oil-gasportal.com/upstream/field-development-phase/
So you stupidly think the oil pumped in 2020, 2021 is due to Biden? What an idiot!

That is essentially what you are saying. You are undercutting your own argument and supporting my argument. If oil leases that are sold cannot be counted in 2020 and 2021 then Biden has nothing to do with the high prices. You can't have it both ways.

 

[busybee01]

I am just going to throw it out there because it is so obvious. Within this thread we have seen that oil prices were higher in 2008 and yet gas prices were lower. I believe demand in 2008 would have been just as high as today, at least early in the year. The reality is that the oil companies, just like Republicans, have no interest whatsoever in lowering those prices under Biden's tenure.

What is the first proposal of Republican's to fight inflation? Decrease regulations on the oil industry. Two problems with that. First, almost every real economist will tell you that decreasing those regulations will have little to no impact on inflation in the short term, and only a minimal impact on inflation in the long term. But the second problem is the fantasy that oil companies would pass the savings of that deregulation to consumers. Did corporations pass on the savings to consumers they got with the corporate tax cut? A definite fool me once, fool me twice scenario here.

Look, the Republicans are all but promising the oil companies, you keep prices high and we will use that has a sledgehammer against Democrats, win back power, and deregulate your industry. That will allow you to externalize your cost and increase the profits that you can pass on to shareholders and inflate your executive compensation. We will do our part too, blocking any attempts from the administration to curb inflation, like the BBB legislation. It has several components that would increase the efficiency of the supply chain and enhance productivity. Again, any economist will tell that will provide better results when it comes to fighting inflation than deregulating the oil industry. The bill also includes programs to decrease the cost of prescription drugs, a real driver of current inflation numbers. And Republicans stand united, along with a couple of bought and bossed democrats like Joe Manchin.

The tradeoff couldn't be more simple. Tax corporations and the wealthy a little bit higher, reduce the cost of prescription drugs, increase the efficiency of the supply chain, and enhance productivity. I mean this is like Econ 101 for dummies. Of course that would lower inflation. But here is the primary point.

Given that oil companies are sticking it to you simply to manipulate political opinion. Given that Republicans are pretty much sitting on their damn hands simply to benefit from the "gold mine" that is inflation. Both entities don't give two shits that you are paying more at the pump, at the grocery store, and even at the restaurant. Are those Republicans representing you, or are they mere tools of the oil companies? I mean this ain't rocket science.

First, I would divest my stock portfolio of any oil company stock. I don't care if they could provide a good return, I can find just as good a return in more ethical industries. Second, I would purchase my gasoline from independent stations with no brand affiliation. Which is kind of smart right now, they are usually cheaper for reasons that I can explain later if anyone is interested, and I have explained it before. But third, I be damned if I would ever vote for a Republican, and I sure wouldn't sent them two shits as a donation. These guys are whores that don't give a damn about you or I.

Look, I have voted for Republicans. The party used to actually stand for something. But this group, that started with the so ignorantly named "tea party" and completely morphed to total shit with the MAGA movement. "Again", how flipping insulting, and racist really. The founders would have already ran these dipshits out of DC on a rail, tarred and feathered for good measure. They exemplify the very type of political operative the founders revolted against. I mean you think it was just a king, although Trump is a pretty good representation of a king.

I mean right now, if the founders would suddenly climb out of their graves, Jefferson, Madison, Mason, Hamilton, Franklin, my personal favorite, Rodney, they would show the dumbshit Trumpbots how to storm the Capital. They sure as hell wouldn't be taking selfies for Facebook. I mean my God, look at some of the Republican members, MTG, Boebert, Cawthorn might lead the way, but Kennedy, Foxx, Jordan, Budd, Gaetz. Gohmert, these are some of the dumbest dipshits that have ever graced the halls of Congress. None of them are capable of leading a Cub Scout pack, let alone be a member of Congress. Time to wake up and smell the coffee.

I am a Ronald Reagan Republican. However I no longer recognize the fascist Trump Republican Party. I want clean air and clean water and I don't believe that we can find a middle ground. However Trump Republicans are not interested in that. They are typical fascists and operate in the same way that Hitler, Stalin and every dictator up to Putin operates. They are using the same playbook. Attacking voting rights, free speech rights and every right you can think of. The Supreme Court has become a partisan arm of the Republican Party.

 

[busybee01]

Facts support your point!
Prices under Trump in April 2020 at $1.938/gal.
Today under Biden $4.213 or $2.28 or 117%

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

View attachment 643191

We also had 14% unemployment and were in the middle of a pandemic.

 

[Winston]

I am a Ronald Reagan Republican. However I no longer recognize the fascist Trump Republican Party. I want clean air and clean water and I don't believe that we can find a middle ground. However Trump Republicans are not interested in that. They are typical fascists and operate in the same way that Hitler, Stalin and every dictator up to Putin operates. They are using the same playbook. Attacking voting rights, free speech rights and every right you can think of. The Supreme Court has become a partisan arm of the Republican Party.

The reality is Ronald Reagan would be ran out of today's Republican party. First and foremost, he believed all income should be taxed the same. Earned income, unearned income, to Reagan, it didn't matter, it was all income. Second, Reagan was also faced with rampant inflation. Sure, Volcker at the Federal Reserve used interest rate increases to a huge advantage, but Reagan also got behind the biggest tax increase in American history at the time that helped to bring inflation under control.

 

[healthmyths]

You do not have a clue what the facts are.

FACT 1: Biden sold more leases on federal land than Donald Trump did in his first year.

FACT 2: Pre-pandemic, there were 800 oil rigs in operation. Today there are 650 in operation. Why have oil companies not re-opened the remaining 150? Because they want to keep supply down.

FACT 3: A Dallas Fed survey of OIL EXECUTIVES say that by a 59%-7% margin that shareholders not the government are preventing them from drilling. I suppose they are lying which they are not.

YOU speak of "FACTS"... we should believe what YOU type? Until you provide links to the above statements, you are a liar!