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yet we are importing from all of these countries when we could stop anytime with an Energy PresidentThat's because aggressive oil supply cuts in Saudi Arabia and Russia and deadly flooding in Libya have sent crude prices on a tear. Oil prices hit a 10-month high on Friday and are on pace to hit their largest quarterly increase since Russia first invaded Ukraine in the beginning of 2022.3 days ago
Gas prices are unusually high. Here's why you shouldn't worry
As I've pointed out many times oil companies are not the ones running up the prices. Hedge funds and the like are.
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By allowing COVID to tank our economy ?Hey Dragonlady
Trump got gas down to 2 bucks a gallon. Can Biden do that?
yet we are importing from all of these countries when we could stop anytime with an Energy President
The remaining top five sources, in order, were Iraq (182,000 b/d), Nigeria (154,000 b/d), Venezuela (126,000 b/d), Libya (112,000 b/d), and Guyana (100,000 b/d). Total crude oil imports averaged 6.5 million b/d in June, which was an increase of 24,000 b/d from imports during May 2023.
Hey Dragonlady
Trump got gas down to 2 bucks a gallon. Can Biden do that?
Thank you for proving you're economically illiterate. OPEC+ has been cutting production this year because the Saudi's and the Russians want don't want Biden to be re-elected. They want Trump back in office.
OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says
Oil output cuts which Saudi Arabia and Russia have extended to the end of 2023 will mean a substantial market deficit through the fourth quarter, the International Energy Agency (IEA) said on Wednesday, as it largely stuck by its estimates for demand growth this year and next.
Big Oil doubles profits in blockbuster 2022
Big Oil more than doubled its profits in 2022 to $219 billion, smashing previous records in a year of volatile energy prices where Russia's invasion of Ukraine reshaped global energy markets and, in some cases, the industry's climate ambitions.
4 oil companies had total sales of $1 trillion last year
Record profits and a growing climate crisis have renewed calls for a tax on fossil-fuel companies.
Big Oil profits soared to nearly $200bn in 2022
The combined profits of some of the world’s biggest oil companies amount to over $199 billion in 2022, hitting records.
Tell us again, it's all on account of the hedge funds.
They cut but all needs are being met so there is no reason for price to go up.
Yes OPEC knows how to play the system but get the excess money out of the markets.
He has led our country to produce more oil than anyone every… what else is he supposed to do? Put in price caps? Seems like a socialist thing to do you commie.It's the one thing I look forward to during election season. Gas is still about double from when he took over.
Do you anticipate any changes out of the administration to try tackling these high prices?
Occam's razor. You're looking for deep conspiracies, and ignoring the obvious.
Russia and OPEC are cutting production because the Saudi's and the Russians want Joe Biden gone from the White House, and Donald Trump back again, and rising gasoline prices will assist in that agenda.
70% of oil imports in the US is from Canada and Mexicoyet we are importing from all of these countries when we could stop anytime with an Energy President
The remaining top five sources, in order, were Iraq (182,000 b/d), Nigeria (154,000 b/d), Venezuela (126,000 b/d), Libya (112,000 b/d), and Guyana (100,000 b/d). Total crude oil imports averaged 6.5 million b/d in June, which was an increase of 24,000 b/d from imports during May 2023.
Reduce the regulatory bullshit.He has led our country to produce more oil than anyone every… what else is he supposed to do? Put in price caps? Seems like a socialist thing to do you commie.
Wait… we already are producing record oil and we are not seeing record low prices… why?Reduce the regulatory bullshit.
Open up drilling on fed land.
Build the pipelines.
Stop condemning fossil fuels.
Build nuclear power plants.
Ease up on the onerous coal restrictions.
All of the above would help reduce energy costs.
Read the thread shithead. I'm not going to keep repeating myselfWait… we already are producing record oil and we are not seeing record low prices… why?
Biden is turning down leases, fracking permits, he has pretty much tanked our world leading energy production
we are importing from all of these countries when we could stop anytime with an Energy President
So what? In the first week of June 2023 our average export was 3.925 mbd of crude oil too.The remaining top five sources, in order, were Iraq (182,000 b/d), Nigeria (154,000 b/d), Venezuela (126,000 b/d), Libya (112,000 b/d), and Guyana (100,000 b/d). Total crude oil imports averaged 6.5 million b/d in June, which was an increase of 24,000 b/d from imports during May 2023.
yet its not keeping up with demand, we could be totally independent but we aren't. We could be a larger exporter, but we aren't. We are allowing other nations to steer our economy thank to the stuttering, tripping, idiot we have in the White HouseHe did them a favor an refunded their money. The big oil companies want nothing to do with the politics of drilling in ANWR. Fracking permits are issue with the drilling permits. Not one has been banned. Our lead in energy production has increased, regardless.
Their has not been a president in my lifetime when we weren't importing oil from somewhere.
So what? In the first week of June 2023 our average export was 3.925 mbd of crude oil too.
ahh the canadian chimes in who doesn't even know the amount of taxes paid in her own country for healthcare, go blow someone else queenieAnd yet oil production for this fiscal year is at it at its highest level in history.
When Biden took office, after your "Energy President" was voted out of office, production was 9,919 thousands of barrels per day. As of June, 2023, it was 12,844 thousands of barrels per day. That's a nearly 30% increase in less than 2 1/2 years, Whereas your "Energy President" increased oil production by less than 10% in 4 years and signed a deal with OPEC to cut production on his way out the door.
U.S. Field Production of Crude Oil (Thousand Barrels per Day)
Under the Obama/Biden Administration, energy production in the USA increased by the greatest amount in American history, which is why the moment Donald Trump took office, he immediately took credit for all of it.
Just look at the charts, fool.
Part of the "problem" is demand created by the strong economy.He isn't going to address the actual problem. No one will.
ycharts.com
The US Oil Patch stopped meeting US consumers demand During Eisenhower's presidency. 70 years of oil dependency.yet its not keeping up with demand, we could be totally independent but we aren't. We could be a larger exporter, but we aren't. We are allowing other nations to steer our economy thank to the stuttering, tripping, idiot we have in the White House
