If "price gouging" is happening, why didn't Biden & Harris stop it? (Poll)

[Marener]

Explain

Lots to explain. OPEC had increased production in 2018 as there were concerns about reduced output from Venezuela and Iran. Iranian sanctions were relaxed by Trump so that never really had that big of an effect.

The real market shock was the dramatic rise in US shale oil production which drove prices down in the late part of 2018. The crazy thing about US shale production was that it was losing tons of money for producers but they kept on producing anyway. It was unsustainable and prices were set to increase back to the normal range like they were in 2017 except that COVID hit first and dramatically reduced demand which we are still recovering from.

 

[whitehall]

Asking a bunch of people on the USMB why Biden/Harris did or didn't do something is a meaningless effort. The truth of the matter is that if the media was honest we would know these things. As long as the media is in the business of protecting democrat administrations we will never get any answers.

 

[j-mac]

Lots to explain. OPEC had increased production in 2018 as there were concerns about reduced output from Venezuela and Iran. Iranian sanctions were relaxed by Trump so that never really had that big of an effect.

The real market shock was the dramatic rise in US shale oil production which drove prices down in the late part of 2018. The crazy thing about US shale production was that it was losing tons of money for producers but they kept on producing anyway. It was unsustainable and prices were set to increase back to the normal range like they were in 2017 except that COVID hit first and dramatically reduced demand which we are still recovering from.

You just contradicted your own narrative

 

[Marener]

You just contradicted your own narrative

Explain.

 

[struth]

Lots to explain. OPEC had increased production in 2018 as there were concerns about reduced output from Venezuela and Iran. Iranian sanctions were relaxed by Trump so that never really had that big of an effect.

The real market shock was the dramatic rise in US shale oil production which drove prices down in the late part of 2018. The crazy thing about US shale production was that it was losing tons of money for producers but they kept on producing anyway. It was unsustainable and prices were set to increase back to the normal range like they were in 2017 except that COVID hit first and dramatically reduced demand which we are still recovering from.

What sanctions and when did trump lift them on iran?

I see xiden and harris lifted sanctions in Feb 2021.