Is Biden going to do ANYTHING to lower gas prices since there is an upcoming election?

[BlindBoo]

Our highest month of record happened when Trump was president. We are currently 500,000 bbls per day of gasoline short of what is needed.

U.S. Product Supplied of Finished Motor Gasoline (Thousand Barrels per Day)

Yet in the last week on record, 9-15, we managed to export 1.1 mbd of finished gasoline and only imported .5 mbd?

U.S. Imports & Exports

 

[Dragonlady]

That has to be fake. EIA shows we are not at record levels at all.

U.S. Product Supplied of Finished Motor Gasoline (Thousand Barrels per Day)

Biden wants to drive down production of gasoline, not increase it.

Where is the evidence that he does??????

No it didnt. It went DOWN 12.8% and was DOWN for the first 8 months of his presidency. At one point it was down 61% under Trump. Under Obama the price of oil went up 173% at one point.

Crude Oil Prices - 70 Year Historical Chart

Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

www.macrotrends.net

The price of gas was under $2.00 under Obama. It went up by $1 a gallon, that a 50% increase under Trump and crickets from you clowns.

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

Trump signed production cuts with OPEC for the sole purpose of keeping gasoline prices higher so US oil companies could profit.

Oil Nations, Prodded by Trump, Reach Deal to Slash Production (Published 2020)

The deal will reduce output by 9.7 million barrels a day. While significant, the cut falls far short of what is needed to bring oil production in line with demand.

www.nytimes.com

This agreement was signed AFTER Trump lost the election, and the Vaccine was approved. Did Trump do this on purpose to hurt the American people who voted him out of office????

And here are the current production numbers.

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

Notice how I didn’t once call YOU a liar. I just proved you’re wrong. You should try that sometime.

 

[surada]

The price of crude oil is reflected in the price of gas.



Do tell.

On March 16, ExxonMobil announced the beginning of operations at the expansion of its Beaumont refinery, adding 250,000 barrels per day (b/d) of capacity, according to the company’s announcement. The expansion makes the oil refinery one of the largest in the United States as measured by crude oil distillation capacity. According to ExxonMobil, the total capacity of the Beaumont facility is now 630,000 b/d.

Beaumont refinery expansion boosts Gulf Coast petroleum refining capacity - U.S. Energy Information Administration (EIA)

www.eia.gov

That's good news. Is Venezuela still refining crude for Iran? I noticed Iran's oil production is booming.

 

[surada]

Where is the evidence that he does??????

The price of gas was under $2.00 under Obama. It went up by $1 a gallon, that a 50% increase under Trump and crickets from you clowns.

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

Trump signed production cuts with OPEC for the sole purpose of keeping gasoline prices higher so US oil companies could profit.

Oil Nations, Prodded by Trump, Reach Deal to Slash Production (Published 2020)

The deal will reduce output by 9.7 million barrels a day. While significant, the cut falls far short of what is needed to bring oil production in line with demand.

www.nytimes.com

This agreement was signed AFTER Trump lost the election, and the Vaccine was approved. Did Trump do this on purpose to hurt the American people who voted him out of office????

Oil production doubled during the Obama administration.

 

[Dragonlady]

Oil production doubled during the Obama administration.

Not quite. Energy production increased by 80% under Obama but much of that was gas production from fracking.

This is the greatest increase in energy production by any president in history so of course Trump took credit for all of it.

 

[SassyIrishLass]

Oil production doubled during the Obama administration.

Misleading, it was up about 75% but it wasn't anything Ears did, it was due to technology advances such as fracking and horizontal drilling

 

[Robert W]

Yet in the last week on record, 9-15, we managed to export 1.1 mbd of finished gasoline and only imported .5 mbd?

U.S. Imports & Exports

So explain high fuel prices that impacts all things we buy daily and weekly.
Biden only takes credit. He refuses blame for all that goes bad on his watch.

Biden's goal is to drive out the oil industry.

 

[surada]

Not quite. Energy production increased by 80% under Obama but much of that was gas production from fracking.

This is the greatest increase in energy production by any president in history so of course Trump took credit for all of it.

The numbers I saw were 88% ...Rig counts were higher than they'd been in 44 years.

If the price per barrel is low, nobody invests in oil production.

 

[Robert W]

Not quite. Energy production increased by 80% under Obama but much of that was gas production from fracking.

This is the greatest increase in energy production by any president in history so of course Trump took credit for all of it.

How did Obama cause fracking? When did he cause fracking?

 

[surada]

Misleading, it was up about 75% but it wasn't anything Ears did, it was due to technology advances such as fracking and horizontal drilling

Horizontal drilling has been around for 40 years.... so has fracking. The US just couldn't afford the investment in either because most US wells pump less than 50 barrels a day and the damn price was too low.

 

[surada]

How did Obama cause fracking? When did he cause fracking?

US couldn't afford fracking because the PPB was too low. We already have the highest production costs in the world.

 

[AsherN]

Biden invented this BS about global markets to hide his contribution. Tell that to the Saudis for instance who pay about $2.31 per gallon. For Saudi Arabia this is very expensive.
Venezuela pays about $0.13 per gallon for their gasoline.

Venezuela gasoline prices, 08-Jul-2024 | GlobalPetrolPrices.com

Venezuela: The price of octane-95 gasoline is U.S. Dollar per liter. For comparison, the average price of gasoline in the world for this period is U.S. Dollar. The chart below shows the price of gasoline in the country relative to other countries. Use the drop menu to see the prices in gallons.

www.globalpetrolprices.com

Oil has been a global market for a lot longer than Biden's been in office. Venezeula? really??? That shit hole 3rd world country? Look at gas prices all over the first world. Her's a hint, Toronto, gas price is $1.71/L. For the metrically challenged, that's $6.84 a US Gallon. US prices are low compared to other industrialized nations.

 

[BlindBoo]

So explain high fuel prices

On Tuesday, Saudi Arabia announced that it will extend the current cut of one million barrels of oil a day to the end of the year, according to the Wall Street Journal. Russia’s deputy prime minister, Alexander Novak, also said that Russia will also keep its 300,000 barrel a day output through December.

Saudi Arabia and Russia Extend Oil Production Cuts

The current cut policy is now extended into December.

www.convenience.org

The Associated Press reports that the extended cut will take 1.3 million barrels of crude oil out of the global market. The New York Times stated that together, the cuts could amount to more than one percent of global supplies, although Russia’s contribution to the reduction may be difficult to track.

 

[SassyIrishLass]

Horizontal drilling has been around for 40 years.... so has fracking. The US just couldn't afford the investment in either because most US wells pump less than 50 barrels a day and the damn price was too low.

You're just stumbling around acting like you're some expert (you're not) and trying to pump up Ears.

Save your breath

 

[Robert W]

3 Things Biden Has Done That Increased Gas Prices

Don't be fooled. Gas prices started rising long before Russia's invasion of Ukraine, and the president has direct responsibility for how his policies have contributed to the surge in fuel prices.

fee.org

President Biden isn't entirely to blame, but his anti-market policies have contributed to the problem.

Tuesday, June 21, 2022​

On Tuesday, Saudi Arabia announced that it will extend the current cut of one million barrels of oil a day to the end of the year, according to the Wall Street Journal. Russia’s deputy prime minister, Alexander Novak, also said that Russia will also keep its 300,000 barrel a day output through December.

Saudi Arabia and Russia Extend Oil Production Cuts

The current cut policy is now extended into December.

www.convenience.org

The Associated Press reports that the extended cut will take 1.3 million barrels of crude oil out of the global market. The New York Times stated that together, the cuts could amount to more than one percent of global supplies, although Russia’s contribution to the reduction may be difficult to track.

But your claim earlier was the USA exports gasoline to other nations. What changed your mind to blame Saudi Arabia?

 

[Robert W]

3 things Biden did to force up prices at the pump.
Here are three specific things Biden has done that have led to increased gas prices.

Three things Biden has done that increased gas prices - Washington Examiner

Video EmbedAverage gas prices recently passed $5 per gallon nationwide, setting a new record. This is bad news for workers' budgets, and since it's happening under President Joe Biden’s watch, it's bad news for the Democratic Party’s electoral prospects.The White House has tried

www.washingtonexaminer.com

1. Canceling drilling leases and limiting domestic production
2. Choking regulations that impose big costs and lead to higher prices
“The regulatory chokehold imposed by the Biden administration on oil production in place of a Green New Deal has drastically raised gasoline prices, thereby hurting lower-income people the most,” said conservative economist Vance Ginn, who served in the Trump administration.

“This is yet another example of the high cost of big-government environmentalism when the better approach is to remove government barriers so that free markets can better let people adapt to changes in the environment at a much lower cost,” Ginn concluded.

3. Anti-energy rhetoric that discourages investment

 

[BlindBoo]

3 Things Biden Has Done That Increased Gas Prices

Don't be fooled. Gas prices started rising long before Russia's invasion of Ukraine, and the president has direct responsibility for how his policies have contributed to the surge in fuel prices.

fee.org

President Biden isn't entirely to blame, but his anti-market policies have contributed to the problem.

Tuesday, June 21, 2022​

But your claim earlier was the USA exports gasoline to other nations. What changed your mind to blame Saudi Arabia?

It's a fact, we export gasoline to other nations. Saudi Arabia's 1mbd continued cut in production will keep the price of oil high.

 

[BULLDOG]

That has to be fake. EIA shows we are not at record levels at all.

U.S. Product Supplied of Finished Motor Gasoline (Thousand Barrels per Day)

Biden wants to drive down production of gasoline, not increase it.

It's possible for both to be correct. I posted about oil production, and your link was for finished product. Obviously, we are exporting oil to other countries for them to finish the product. The oil companies determine how much is refined here, and how much is exported. Biden doesn't have anything to do with that decision.

 

[Robert W]

It's a fact, we export gasoline to other nations. Saudi Arabia's 1mbd continued cut in production will keep the price of oil high.

That reduces supply to America. Funny how you blame Saudi Arabia and ignore the damage done by Biden's policies.

 

[Fort Fun Indiana]

Biden only takes credit. He refuses blame for all that goes bad on his watch.

New to politics, eh?