Lets examine a graph of oil price per barrel over the past 12 months

[bendog]

Oil started to go up when biden did away with Trump's policies. Don't let the truth smack you in the ass. If biden would do away with restrictions on drilling on federal land. The price of a barrel would plummet over night.

oil prices began to rise again in the spring of 2020. Why are facts so difficult for you to figure out without resorting to Trumpian bullshit?

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

 

[Likkmee]

Are you sure it wasn’t because of Bush making his big oil buddies rich?

BUSH CHENEY HALIBURTON!
RELEASE THE STRATEGIC OIL RESERVES!

http://www.antsinthewall.com/wp-content/uploads/2017/02/001.jpg

 

[OKTexas]

See post 46, rube.

Why does Trump hate America?

I saw it, it's BS.

.

 

[jknowgood]

oil prices began to rise again in the spring of 2020. Why are facts so difficult for you to figure out without resorting to Trumpian bullshit?

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

They went to around $2.00 were it should've been. I saw $4.19 today. Biden is a dumbass and they are predicting it to still go way up. Can't wait till next year when we have both houses and impeach the stupid son of a bitch.

 

[ColonelAngus]

Banning the means of production does not affect supply?

Lefty logic

 

[bendog]

They went to around $2.00 were it should've been. I saw $4.19 today. Biden is a dumbass and they are predicting it to still go way up. Can't wait till next year when we have both houses and impeach the stupid son of a bitch.

Well Trump was Putin's bitch, I'll agree with that.

 

[OKTexas]

The barrels slated to be EXPORTED...form a pipeline not built now that wouldn't be active for a couple years in any event?

Barrels slated to be refined in US refineries designed to handle heavy crude, increasing supply of products. And you have no idea when it could have been operational.

.

 

[jknowgood]

Well Trump was Putin's bitch, I'll agree with that.

Then tell me why Biden personally went to the floor of the house. In December to plead not to put sanctions back on putin. First president in our history to do that.

 

[imawhosure]

Or perhaps increasing production is a long process that cannot be done overnight. Did that idea ever occur to you?

US oil production is up16% since Feb of 2021, at the current rate we will be above the record level of early 2020 by Nov of this year.

In the 3 years before COVID US oil production rose an average of 15%.

Well then, let me be the 1st to inform you (and these are NOT my numbers but projections by the government and oil people) that our 2022 PROJECTED millions of barrels per day is 11.85, which is still below the 12.29 which we did in 19.

Let me also point out to you, that as of this writing, the USA has the largest known oil reserves in the world of any country on this planet. Let me also point out to you, that as of recently, frackers made a profit at around 45 dollars a barrel, and pumped like hell in 2019.

Now then, you are a logical person. With the demand for oil RISING through the next 10 years at the very least, don't you think something looks amiss here! I mean, are not oil companies seen as greedy? Why wouldn't they want to get their hands on that liquid gold? Why hasn't Biden held an energy summit yet? It is the number 1 issue for this year, and most of last, the price of energy going forward. In fact, politically you would think it would help him considerably if he was an honest broker to do so.

No, the fact is, like it or not, this is all politics. They admitted on many occasions what they wanted to do, and as long as no nuclear war, they see Pooty as helping them achieve their goals while he stands in for the forseeable future as the boogeyman instead of them being blamed; or so they think.

No matter what anyone believes, it is obvious that Biden is not doing the logical thing, unless he is doing it secretly behind the scenes. That is how almost 70% of Americans see it, and unless he pulls a big surprise with something nobody is aware of, his party is gone in November; and in fact, probably will be anyway.

 

[Lesh]

Barrels slated to be refined in US refineries designed to handle heavy crude, increasing supply of products. And you have no idea when it could have been operational.

And neither do you...but certainly not for several years

 

[Harpy Eagle]

Well then, let me be the 1st to inform you (and these are NOT my numbers but projections by the government and oil people) that our 2022 PROJECTED millions of barrels per day is 11.85, which is still below the 12.29 which we did in 19.

And the Govt is normally wrong about these things.

Let me also point out to you, that as of this writing, the USA has the largest known oil reserves in the world of any country on this planet. Let me also point out to you, that as of recently, frackers made a profit at around 45 dollars a barrel, and pumped like hell in 2019.

And, as I said we are getting there. It does not happen overnight, it an involved process. You seem to think there is just some switch they need to move from OFF to ON.

 

[Jimmy_Chitwood]

View attachment 613061
The increase in oil prices IS NOT BECAUSE OF THE UKRAINE WAR. IT IS BECAUSE OF BIDENS EOS AND DEM POLICIES.

Did the Ukraine war start 14 months ago?

Stop lying….and stop believing these lies.

It will be interesting to see how the leftist on this board try to blame this one on Trump to?

 

[Meister]

the production drop you pointed out all took place in 2020, not in 2021....but you already knew this right?

So, I ask you again...why did Trump kill US oil production in 2020?

I think China was part of that issue with the the release of their China virus they unleashed on us.
With the economy coming to a crash and the demand slowed as it did. The reserves were at max
and couldn't be increased, that left only one thing to do, slow production.
Does that make any sense?

 

[g5000]

I saw it, it's BS.

.

Like all tards when confronted with real facts and figures, you all respond, "Nuh-uh!"

You are willfully blind.

In his first year, oil production has ramped up 10 percent faster under Biden than it did in Trump's first year.

I'm sorry this destroys the manufactured bullshit your propagandists have fed you which you gobbled with gusto.

"Because Biden" is always irresistible bait to you creduloids.

 

[Harpy Eagle]

I think China was part of that issue with the the release of their China virus they unleashed on us.
With the economy coming to a crash and the demand slowed as it did. The reserves were at max
and couldn't be increased, that left only one thing to do, slow production.
Does that make any sense?

Of course it does. But I am not the one comparing 2019 to 2021 pretending there was nothing in the middle of those two years.

The reason producing is lower in 2021 than in 2019 is because 2020 happened. But 2020 was no Biden's fault so that part has to be ignored by those that think Biden, and Biden alone, is 100% responsible for the current gas/oil situation.

 

[g5000]

So here are some more facts for you poor rubes to examine.

As I proved earlier, oil production has actually surged much more under Biden than it did under Trump.

Neither of them get any credit or blame for that. It's just the way it is.

I also pointed out that even though we were producing more oil under Biden than under Trump, the gas price under Biden in December was about 75 cent more per gallon than in Trump's first December.

Curious, no?

Since the US was producing more under Biden, how does one explain this?

Obviously, someone else is producing less. Duh.

Saudi crude oil exports fell in 2021 even as OPEC+ ease output caps

RIYADH: Saudi Arabia shipped less crude in 2021 from a year ago, even as the Kingdom is allowed to produce more oil under its agreemnt with OPEC+ countries. Saudi crude oil exports averaged 6.22 million barrels per day, which is 6.6 percent less than in 2020, data posted by the Joint...

www.arabnews.com

Saudi Crude Oil Exports Sink To 11-Year Low For 2021; Now For The Rebound

Having dropped to the lowest in more than a decade for 2021, Saudi crude exports are poised for a major rally for 2022. A new all-time high could even be posted.

www.mees.com

Saudi Arabia.

Even though world demand began surging in 2021, Saudi Arabia did not increase their exports. In fact, they exported less than during the pandemic!

 

[g5000]

As I said at the top, it's simple economics. Supply and demand.

In Biden's first year, we have produced more than in Trump's first year.

So the US is not the supply problem. Saudi Arabia is. And probably others.

 

[Meister]

Drill, baby, drill

 

[g5000]

Since Saudi Arabia's economy is totally dependent on global oil prices, just like Russia, it is to their benefit when oil is above $100 a barrel.

 

[g5000]

Study up on the futures market.

Gee, you almost sound like you know what you are talking about. Not.

I know very well how the futures markets work. In fact, my next post was going to be about that.

Idiot.