Myth is that Biden killed oil production in the US. Actually, he has done nothing to halt oil leases. In fact, Biden administration has outperformed Trump in issuing drilling permits according to Center for biological diversity. Reversing Trump environmental rollbacks haven't made any dent in global oil markets. In 2021, US became the top exporter of liquidified natural gas in the world.
4 more years 4 more years...
Check the d box in the general election and we will be fine.....let's get those voting machines rigged boys th country is at stake and red states are ruin America their white trash social programs are destroying America....
We don't need any more ignorant children or ideology here why don't you go to Russia and spread the wealth .
We don't need any more foster fuckers raising children we don't need anymore stupid we are at full capacity sir.....
Gas prices movements across the country
While national average gas prices increased five cents this week and experts forecast future spikes, some states saw more significant changes. These were the 10 states that saw the largest increases, according to AAA’s report.
And here are the gas prices in the most expensive gas markets for the week.
How are global gas prices over the last week? Also increasing?
@DeezyAZ81
No sir, not last week -- world oil prices were down.
I have a huge bet that they do go up for a bit. 
But this article from AAA mainly just saying that even though the summer travel is over the gas prices have bounced back up. Going into hurricane season and heat waves back, etc.
You are frankly one of the most dishonest people on this site.... and that is saying something THIRDPERSON.
You only need to go revisit post#25 ;
Here are the cliffnotes for you ; Biden has been vocally against oil/gas, and has backed it up w/ actions ;
I'm going to shutdown the oil industry and refineries!!! I am not going to cooperate with them!
Jan. 2021, Keystone Pipeline immediately cancelled.
May, 2022, Limetree Refinery to shutdown after 3 billion dollar upgrade to make it cleaner and more productive is denied by Biden.
June 2022, Biden calls on US refineries to produce MORE!! ..........ELECTIONS ARE COMING!!!
Unhappy about high gas and oil costs? Give freebies to frackers, oil and gas exploration companies and let their finance costs be zero again. Maybe Texas with all their awesomeness can finance the exploration costs for corps and then they will start taking risks again, or give free leases to frackers and explorers..might as well give them whatever they want because all we care about is how much gas costs at the pump, not about why it is so.
@wallstreetcappers
Wall, it's not about giving away freebies, at least not w/ me. To me it's simply about let's stop making their life difficult w/ additional regulations that the O'bama administration (err.. Biden admin.) is layering on top of their businesses. Oil/gas will scale back operations if they see it as being too costly and/or unpredictable. Biden fits both of those to a T.
BTW, I hate subsidies, and what it represents... It's using taxpayer $$ to favor particular individuals or companies .. No bueno.
The reason why gas and oil were cheap is because we gave subsidies, allowed fracking to even happen in the first place. If you want to talk about regulations, for the life of me I have no idea how fracking was ever allowed to go forward...the process injects chemicals and natural gas into layers of rock to get that yuccky sour out, its a known fact that the fracking process puts chemicals into the water table and that does and will end up wrecking the water supply we have. We cant just allow corps to do whatever the crap they want because it makes for cheaper products and services there has to be boundaries to which they are kept. The free markets are about supply and demand and profits, these corps do not regulate themselves at all, I think in the area of O&G we are too lax on regulation. There should be MORE regulation and impartial involvement in the process and we should err on the side of caution and respect for our environment and the water table.
Subsidies made oil cheap, ZIRP made oil cheap, it took the control away from OPEC but at a cost to the environment and the saver. ZIRP was a subsidy and without it these corps are not going to risk to ramp production, the breakeven is too high with rates even above 3 percent...numbers just dont work.
@wallstreetcappers
That is not exactly accurate. I do not think they have ever been used solely to lower prices.
I think 3 or 4 times during emergencies to have supplies, not to simply lower the price.
For example, during Katrina because of the disruption of supply or anticipation of it, during Desert Storm to make sure there were supplies or anticipating a shortage.
It is a whole different issue to do it just to temporarily lower prices.
It is also a bigger issue to not have refilled when prices were lower.
@Raiders22
Oh I meant it, why would we not want to tap it when prices are high and fill when prices are low? What purpose do we have to keep 100-200-300 million barrels of oil sitting in storage? Is it so we can be ready for yet another war or what is the reason why some of you are so mad about it? Trump tapped it during his presidency, its just another talking point for partisan finger pointing. The reality is if you want lower prices for oil you have to subsidize it to where the cost for increased production is worth the risk for the corp drilling or fracking or exploring, so give freebies to corps so they will seek out more production or lower their WACC so they can take more risk...
Not much else to say on the topic, as a percentage of oil consumption it really is not much of a big deal.
Correct it is strictly for those purposes and not to just lower prices when they are ‘high’ to make a politician look good.
I don’t think ‘mad’ is correct with everyone.
I see it for what it was — politics only.
Maybe some are mad about it. But it is more frustrating and duplicitous to do that on one hand while on the other hand having an anti-oil perception and agenda going into office.
Maybe some are ‘mad’ we did not restock when prices were low.
Established in 1995,
Hot Forum Topics
