Oil has come down $35 from it's high. Does Joe Biden get credit for that?

[g5000]

No reason to. The Biden interruption in oil supplies, due to his stupid Russian oil sanctions and reductions in domestic production, are being mitigated by market action.

There have not been reductions in domestic production. Stop making shit up.

In Biden's first year in office, domestic oil production grew by 31 percent.

Compare that to Trump's first year in office where production grew by only 21 percent.

And they both started at the same point of production.

Why does Trump hate America?

 

[Winco]

And how many rigs did Veggie Joe put up?

Try to answer honestly

What is the “number count” of active rigs when trump left office compared to today?

 

[RoshawnMarkwees]

Five steps backward and one step forward. That’s a net of four steps backward. Yeah, that is entirely the fault of the demmunist cabal. But that involves simple math which precludes the understanding of democrat voters.
Democrat voters are retarded baboons.

 

[g5000]

It was not so long ago Powell was claiming inflation was "transitory." In his defense no one foresaw Putin's invasion of Ukraine causing both energy and food inflation.

The invasion of Ukraine had very little to do with inflation. Inflation and oil prices were rising before the invasion due to the factors I have discussed here already.

Powell waited too long to raise interest rates.

 

[Tommy Tainant]

Well done Joe.

 

[Toro]

Did you ever wake up?
The supply chains eventually recovered under Trump through the beginning of Biden’s term.

This isn't true.

 

[g5000]

Try to answer honestly

What is the “number count” of active rigs when trump left office compared to today?

See post 21.

 

[Natural Citizen]

I agree. ZIRP has been catastrophic for Main Street.

Even worse, it has encouraged high-risk investing in pursuit of higher yields.

As for the elected morons, we get the politicians we deserve.

I suppose there's always the option to vote harder. Heh heh.

But yeah. It's true. You get what you deserve. It used to be funny when people talked about what was coming down the road. Everybody had a great laugh. It was crazy talk.

The market has always been a complete distortion.

Whatever, though. Those who are prepared will be fine. Relatively speaking.

 

[Winco]

See post 21.

Thanks
I just want Nostra to try to answer a question honestly

 

[Meathead]

From Big Oil to Big Pharma, huge corporations are gouging consumers and exploiting the pandemic to pad their own pockets

That like giving a football coach credit because his team lost by 30 points the previous game and only lost by 27 this time around.

I guess if you're desperate you could say he's a great coach and has vastly improved the team.

 

[Mac1958]

The supply chains eventually recovered under Trump through the beginning of Biden’s term.

WHAT???

Holy crap

 

[bendog]

My point is those "winning" bids were drove up by people with no intention of ever taking ownership of that oil.

I'm not disagreeing, but I don't know of anyway to tell if that was the case. Although, when I look at the reasons being give as to why my gas has decreased at least 35cents, I don't see those reasons really account for the fall of the price per barrel. But, I use so little gas and elec that I don't think my perceptions are really typical.

 

[berg80]

The invasion of Ukraine had very little to do with inflation. Inflation and oil prices were rising before the invasion due to the factors I have discussed here already.

Powell waited too long to raise interest rates.

Yes, Powell waited too long. But saying the price spike of oil from $66 in Dec. 2021 to $122 shortly after the invasion of Ukraine in late Feb. 2022 had little to do with inflation is just wrong. The recent 9.1% CPI would not have been anywhere close if not for Putin's aggression.

From soaring food prices to social unrest, the fallout from the Russia-Ukraine war could be immense

As the war between Russia and Ukraine approaches its third month, the fallout is becoming clearer and the outlook does not look good.

www.cnbc.com

 

[Papageorgio]

Agreed. But the flames were fanned by Repubs and right wing media who dishonestly took advantage of people's ignorance for political purposes.

It happens all the time. Back in 2008 Pelosi blamed Bush for the high gas prices, it is the way Democrats and Republicans play, over and over again.

 

[g5000]

It happens all the time. Back in 2008 Pelosi blamed Bush for the high gas prices, it is the way Democrats and Republicans play, over and over again.

In 2008, Hillary wanted to tax the oil companies' "excess oil profits" when oil hit $145.

The game never ends.

I think the oil price was driven up by speculators in 2008. Not so much now.

 

[Flash]

And we are a net exporter of oil now. Have your propagandists not told you this?

Surprise! The U.S. Is Still Energy Independent

The Energy Information Administration recently posted December export numbers that showed the U.S remained energy independent in 2021.

www.forbes.com

You stupid Moon Bats are in denial about Biden fucking up the energy supply and that makes you look like an idiot.

The sonofabitch promised he was going to fuck up the fossil fuel supply to kiss the ass of the Environmental Wackos and he did it and now you morons are denying it.

Then you wonder why we ridicule you so much.

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

These twenty-five Biden administration policies are affecting gas prices, home heating costs, and other energy-related burdens families face. Read more.

americansforprosperity.org

These twenty-five Biden administration policies are raising energy costs​

 

[pknopp]

In 2008, Hillary wanted to tax the oil companies' "excess oil profits" when oil hit $145.

The game never ends.

I think the oil price was driven up by speculators in 2008. Not so much now.

There is one great way to find out. Remove it from the equation.

 

[Flash]

And we are a net exporter of oil now. Have your propagandists not told you this?

Surprise! The U.S. Is Still Energy Independent

The Energy Information Administration recently posted December export numbers that showed the U.S remained energy independent in 2021.

www.forbes.com

You moron.

If we are "energy independent" then why is the shithead depleting the Strategic Petroleum Reserves and begging the Saudis to give us more oil?

 

[g5000]

You stupid Moon Bats are in denial about Biden fucking up the energy supply and that makes you look like an idiot.

The sonofabitch promised he was going to fuck up the fossil fuel supply to kiss the ass of the Environmental Wackos and he did it and now you morons are denying it.

Then you wonder why we ridicule you so much.

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

These twenty-five Biden administration policies are affecting gas prices, home heating costs, and other energy-related burdens families face. Read more.

americansforprosperity.org

These twenty-five Biden administration policies are raising energy costs​

As I have proven time and time and time again, US domestic oil production increased 31 percent in Biden's first year.

In Trump's first year, production increased by only 21 percent.

And they both began their terms at the same level of production.

You can keep throwing up smoke all you wish, but those are the facts.

Sorry!

 

[Indeependent]

of course they did. And then on Jun 20, 2021 they jut magically got bad again. it all happened over night, in a matter of seconds. Craziest thing ever

That’s how it works.
You should know you can’t simply cancel a contract with an entity but you can modify what they do.