Gas Is Totally Out Of Control

[Guest]

@JustinTime18™ said:

Dan Price

@DanPriceSeattle

·19h

Barrel of oil
Week ago:
$128
Now: $99

Gallon of gas
Week ago: $4.17
Now: $4.32


Oil company profits are at 7-year highs, they get $180 billion a year in government subsidies and they're issuing $88 billion in buybacks/dividends this year.


 Do the math.

Any sitting President has zero to do with the cost of gas.

[Guest]

@StickyBun said:

@JustinTime18™ said:

Dan Price

@DanPriceSeattle

·19h

Barrel of oil
Week ago:
$128
Now: $99

Gallon of gas
Week ago: $4.17
Now: $4.32


Oil company profits are at 7-year highs, they get $180 billion a year in government subsidies and they're issuing $88 billion in buybacks/dividends this year.


 Do the math.

Any sitting President has zero to do with the cost of gas.

so killing oil pipelines and closing areas to oil exploration/drilling had nothing to do with the increases?  in a speculation driven market,  doing things that are negative to the industry wont affect the price?

[Guest]

@StickyBun said:

@JustinTime18™ said:

Dan Price

@DanPriceSeattle

·19h

Barrel of oil
Week ago:
$128
Now: $99

Gallon of gas
Week ago: $4.17
Now: $4.32


Oil company profits are at 7-year highs, they get $180 billion a year in government subsidies and they're issuing $88 billion in buybacks/dividends this year.


 Do the math.

Any sitting President has zero to do with the cost of gas.

Oh come on man.  Biden's first moves in office was the closure of Keystone and a moratorium on federal land. 

Are you suggesting neither of those moves caused any change in gas prices?
We'll see if the picture shows up.  What is quite clear is that our oil exports grew tremendously under Trump (as they had been trending since fracking became a thing) and have tailed off since the pandemic and continued downward through Biden's term.  When you look at energy as a whole (not just crude), 2019/2020 were the first years we were exporting more then we were importing, the first time since the 1950s. 

https://www.oilandgas360.com/wp-content/...xports.jpg

[Guest]

Gas should be 3.60-3.65 right now, here in my town.  Its 4.05-4.09.  So they are overcharging.  The question is who's pocketing the .40 cent premium?  I don't have a good answer for that.

I saw some diesel for 5.49 yesterday in TN

[Guest]

@StickyBun said:

@JustinTime18™ said:

Dan Price

@DanPriceSeattle

·19h

Barrel of oil
Week ago:
$128
Now: $99

Gallon of gas
Week ago: $4.17
Now: $4.32


Oil company profits are at 7-year highs, they get $180 billion a year in government subsidies and they're issuing $88 billion in buybacks/dividends this year.


 Do the math.

Any sitting President has zero to do with the cost of gas.

It sure ain't zero for either of them, the prez or the oil companies.  There are plenty of wells drilled in the Bakken that could have production turned up.  But because of regulations there isn't much new exploration so they tend to sit on those producers rather than open them up.  Greed and incompetent policy, they go hand in hand.

[Guest]

@StickyBun said:

@JustinTime18™ said:

Dan Price

@DanPriceSeattle

·19h

Barrel of oil
Week ago:
$128
Now: $99

Gallon of gas
Week ago: $4.17
Now: $4.32


Oil company profits are at 7-year highs, they get $180 billion a year in government subsidies and they're issuing $88 billion in buybacks/dividends this year.


 Do the math.

Any sitting President has zero to do with the cost of gas.

Than why did the Democrats think we should thank Joe Biden for the whopping 2 cents reduction in price after he released the strategic reserves in November?  By the way...reserves that he nixed stockpiling when prices were low
https://twitter.com/dccc/status/14664940...44394?s=20&t=tb_8HCXDo5riqMiCDby0IQ

It's nonsensical to say that Presidents have zero to do with the cost of gas.  Maybe what you meant to say is that they should have zero to do with the cost of gas.  If policy remains the same, I'd agree...but clearly the Admin (and Democrats) have taken a hostile position to gas and oil which has compounded other global issues.  Cancelling pipelines, leases, etc. and increasing regulatory burden clearly has an economic impact.  I saw yesterday that the House progressives are planning to call on President Joe Biden this week to use his executive power to declare climate change a national emergency and to ban fossil fuel drilling on ALL public lands.  The Dems on the Energy committee have also been threatening the oil companies with taxes and investigations unless they agree to REDUCE their output by 5% per year to achieve the 2050 Climate objectives...hardly conducive to expanding oil production.

As I said in the Economic thread, nobody in their right mind would invest in oil and gas infrastructure in the US right now which makes us dependent on our enemies for gas and oil.  

Jimmy Carter 2.0...and the sequel is almost always worse than the original.

[Guest]

@JimmyinSD said:

@StickyBun said:

@JustinTime18™ said:

Dan Price

@DanPriceSeattle

·19h

Barrel of oil
Week ago:
$128
Now: $99

Gallon of gas
Week ago: $4.17
Now: $4.32


Oil company profits are at 7-year highs, they get $180 billion a year in government subsidies and they're issuing $88 billion in buybacks/dividends this year.


 Do the math.

Any sitting President has zero to do with the cost of gas.

so killing oil pipelines and closing areas to oil exploration/drilling had nothing to do with the increases?  in a speculation driven market,  doing things that are negative to the industry wont affect the price?

Which pipelin? Because if you are talking Keystone that Had NOTHING to do with gasoline.

First that was canadian tar sands sludge that couldn’t be used for gasoline. Potentially ot could be used for diesel but it was only for export. Not for U.S. consumption. Additionally that coal sludge IS in fact being transported still. Lastly it was to cross an aquifer.

So to wrap it up. It was canadian sludge (not sweet crude) that was for export after being refined in TX. Doesn’t seem like a good value to chance ruining an aquifer for something that would have very little U.S. value.

[Guest]

Also domestic oil production herr is at an all time high. There is no problem with our ability to produce gasoline. The problem is the greed of the oil companies taking advantage of a catastrophe and using it as an excuse to price gouge. And after we have been warned again and again that thos would happen if we allowed certain deregulation all I can say is…. No shit? What did you expect? 

Still some of you will continue to lobby for the very people that want to steal from you. Can’t make it up. 

[Guest]

I guess Biden's reach is so great it's impacting gas prices in Europe.

God help us.

[Guest]

https://www.cnbc.com/2022/03/02/insana-why-the-keystone-pipeline-wouldnt-have-helped-ease-surging-energy-costs.html