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Post by cadman on Jun 17, 2024 15:07:35 GMT -5
Biden has mishandled a lot of things, but oil and gas prices are a commodity product and world events impact the price of fuel way more than who the President is. Russia at war with Ukraine, unrest in the middle east. Covid crashing demand in 2020. whether or no Saudi Arabia is pissed at Russia and the OPEC+ countries violating their quota supply agreements. How much oil OPEC supplies the market, China's economy and fuel demand. it is not as simple as who the President is. Wrong wrong wrong. And lets not forget Iran and Russia were almost bankrupt due to low oil prices. Biden has benefited our enemies through his crap energy policy. Anything Grandholm says is caca. But you suck it up. How does that shit taste? Neither one was almost bankrupt. Where did you read that? Until Covid hit, oil prices were lower under Obama's last two years in office than under Trump. www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=F000000__3&f=MRussia and Saudi Arabia had an oil war early 2020, it was their second or third one. I guess that was Trump's doing. They made up and agreed to supply cuts right after Covid kit. en.wikipedia.org/wiki/2020_Russia%E2%80%93Saudi_Arabia_oil_price_warCovid caused a demand drop that caused prices to crash in 2020, Trump had nothing to do with it unless you claim he created the virus with the Chinese. Right after Covid ended demand increased due to more people driving and China's economy kicking back into high gear. Russia also invaded Ukraine causing supply interruptions. This created a price spike in 2022. Up until the oil price war and Covid, oil was averaging $50 to $55 a barrel a price where Russia made plenty of profit. Right now it is $70 to $80 a barrel. At best you could claim Biden's policies increased oil prices $20 to $25 a barrel. I do not agree with Biden's energy policies, even though he backtracked on most of them when prices shot up in 2022. But there is more at play world events that affect oil prices than who the President is. I am not in agreement with Biden's energy policy, but you are full of it.
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Post by tampaspicer on Jun 17, 2024 15:42:32 GMT -5
Could someone explain to me how Biden has caused increased oil prices? Because we are drilling more than ever, exporting more than ever. Is it possible that oil is a global commodity, and since we only produce 20% of the world's oil, we do not have control of the price of oil? And that we produce "light" crude, which is mostly exported, while we import "heavy" crude, which is what our refineries are set up to use? And that the heavy crude we import is actually cheaper than the light crude that we export? Or is it just easier to say FJB? Most people really don't understand what you're saying. That unfortunately is the majority of the problem. I understand. Wish more people did. I assure you if everyone stayed home and didn't drive for the next few months gas would be cheap as hell. But yeah the narrative is FJB cause he's in total control of gas prices.
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Post by ferris1248 on Jun 17, 2024 15:59:43 GMT -5
Could someone explain to me how Biden has caused increased oil prices? Because we are drilling more than ever, exporting more than ever. Is it possible that oil is a global commodity, and since we only produce 20% of the world's oil, we do not have control of the price of oil? And that we produce "light" crude, which is mostly exported, while we import "heavy" crude, which is what our refineries are set up to use? And that the heavy crude we import is actually cheaper than the light crude that we export? Or is it just easier to say FJB? Because they say so.
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Post by biminitwisted on Jun 17, 2024 16:07:06 GMT -5
Could someone explain to me how Biden has caused increased oil prices? Because we are drilling more than ever, exporting more than ever. Is it possible that oil is a global commodity, and since we only produce 20% of the world's oil, we do not have control of the price of oil? And that we produce "light" crude, which is mostly exported, while we import "heavy" crude, which is what our refineries are set up to use? And that the heavy crude we import is actually cheaper than the light crude that we export? Or is it just easier to say FJB? Because they say so. They are too disingenuous to run on the reality, so they fill their world with fantasy.
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Post by Captj on Jun 17, 2024 17:03:22 GMT -5
Regular is under $3.00 gal in Dade & Broward. $2.99
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Post by johngalt on Jun 17, 2024 18:41:40 GMT -5
The price of gasoline has more to do with refining, transportation, blends and taxes. The price of crude oil is a small part.
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Post by richm on Jun 18, 2024 6:17:08 GMT -5
Neither one was almost bankrupt. Where did you read that? Until Covid hit, oil prices were lower under Obama's last two years in office than under Trump. I seem to remember oil going below $0 during Trump. Am I remembering wrong? I asked my financial guy about buying oil stocks and he said it was too risky. JANUARY 5, 2021 Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat
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Post by cadman on Jun 18, 2024 8:25:19 GMT -5
Neither one was almost bankrupt. Where did you read that? Until Covid hit, oil prices were lower under Obama's last two years in office than under Trump. I seem to remember oil going below $0 during Trump. Am I remembering wrong? I asked my financial guy about buying oil stocks and he said it was too risky. JANUARY 5, 2021 Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat As I said, UNTIL COVID HIT. You left that important part out when you bolded the statement I made. Covid hit in January 2020 and Trump shut down the economy in March. The demand for gasoline crashed. Domestic production did not slow down quick enough and inventories were at capacity creating a short window on April 17, 2020 when prices actually went negative of the commodities market. But it was due to COVID and was that one day only. www.nasdaq.com/market-activity/commodities/cl:nmx/historical?page=105&rows_per_page=10&timeline=y5
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Post by cadman on Jun 18, 2024 8:27:23 GMT -5
The price of gasoline has more to do with refining, transportation, blends and taxes. The price of crude oil is a small part. That is true, but those costs are pretty much fixed with some minor fluctuations. The major swings in prices from lows to highs is the supply and demand of oil.
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Post by Captj on Jun 18, 2024 10:43:01 GMT -5
Oil companies are in business to make money. They all do their part to control supply which in conjunction with demand creates market pricing. If you really want to hammer the oil producers just drive an EV. Or walk, or bike.
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Post by johngalt on Jun 18, 2024 12:26:54 GMT -5
Oil companies are in business to make money. They all do their part to control supply which in conjunction with demand creates market pricing. If you really want to hammer the oil producers just drive an EV. Or walk, or bike. What does driving a EV or a bike have to do with the petrochemicals, plastics, fertilizers and the millions of other things that are produced with petroleum?
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Post by nuevowavo on Jun 18, 2024 13:06:18 GMT -5
75% of crude is refined into gas or diesel. The rest is used in other products.
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Post by johngalt on Jun 18, 2024 13:54:05 GMT -5
75% of crude is refined into gas or diesel. The rest is used in other products. And your point is?
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Post by meateater on Jun 18, 2024 13:57:55 GMT -5
Regular is under $3.00 gal in Dade & Broward. $2.99 why and who are you lying too, im looking across the street this second at racetrack price 3.29 broward.
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Post by osprey11 on Jun 18, 2024 14:10:33 GMT -5
Could someone explain to me how Biden has caused increased oil prices? Because we are drilling more than ever, exporting more than ever. Is it possible that oil is a global commodity, and since we only produce 20% of the world's oil, we do not have control of the price of oil? And that we produce "light" crude, which is mostly exported, while we import "heavy" crude, which is what our refineries are set up to use? And that the heavy crude we import is actually cheaper than the light crude that we export? Or is it just easier to say FJB? Oil companies have stopped investing in future projects due to the current administration. The administration has also removed leases. Oil markets are future driven. If a certain president was friendly to oil and gas companies, they would invest in the future. This would cause the price to sink.
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