Idiot Biden blames oil and gas companies for the high price of gas

[Rufus T. Firefly]

Gas prices and oil production is all smoke and mirrors and serious BS.......political fabrication at it's best. No one and I mean NO ONE, cares about the general public on either side of the aisle. It's been this way forever, just not as visible as today with internet and media. The rich get richer and the general public gets the shaft.

Agreed. This country has no energy policy, never has. Just a constant kneejerk to cycles of "supply crisis".

The discipline has held this time, so far, but usually someone cracks, knowing that if they just pump a bit more while everyone else holds to the agreed production levels, their profits will go through the roof. Eventually the others figure it out, the whole thing falls apart, and everyone starts pumping like mad.

Yup. And we've been here before so many times you'd think that they'd come up with better smokescreens and scams to justify major profiteering and gouging.

[healey36]

Increasing domestic production is apparently akin to turning a battleship, an exercise that typically torches the producers. If, in the U. S., you're looking at an 8-10 month window before an increased drilling/pumping effort puts more crude into the supply, it's likely the market has changed by then and the producer is left with too much capacity after having spent a bunch of capital. It sounds like they (the domestic producers) are sizing production based on average demand. The market sets the price. Theoretically, that's the way it's supposed to work.

I'm curious if it's the same for the Middle-Eastern producers. They seem more adept in raising and lowering production in a quicker period of time, but that might be an incorrect/inaccurate observation.

Based on the stuff I have looked at, the U. S. is the world's largest producer. Unfortunately the U. S. is also the world's largest consumer, and what we produce is well short of what we consume. We're dependent on foreign producers for ~ 10-15% of our consumption, and we compete with the other consumers for that bit.

Russia is the world's third-largest producer.

Then there's refining...

[Rufus T. Firefly]

Increasing domestic production is apparently akin to turning a battleship, an exercise that typically torches the producers. If, in the U. S., you're looking at an 8-10 month window before an increased drilling/pumping effort puts more crude into the supply, it's likely the market has changed by then and the producer is left with too much capacity after having spent a bunch of capital. It sounds like they (the domestic producers) are sizing production based on average demand. The market sets the price. Theoretically, that's the way it's supposed to work.

Right.....so the gas at the pumps now is actually been produced quite some months ago....

I'm curious if it's the same for the Middle-Eastern producers. They seem more adept in raising and lowering production in a quicker period of time, but that might be an incorrect/inaccurate observation.

Seems to be the case; more adept and efficient.

Based on the stuff I have looked at, the U. S. is the world's largest producer. Unfortunately the U. S. is also the world's largest consumer, and what we produce is well short of what we consume. We're dependent on foreign producers for ~ 10-15% of our consumption, and we compete with the other consumers for that bit.

Yet we also still export some of our production....

Russia is the world's third-largest producer.

And that source is about 4% of what we consume; hardly justifies the current price increases.

Then there's refining...

There's another sack of anacondas.....

[gregj410]

The most interesting part of this thread, is the lack of support for Biden and the Dem party from our resident liberals. The silence is deafening.

I know right, not mention any names but their initials are Chuck, Murph, Chris Webster, bob turner, to mention a few and Dr Ahem……you definitely can’t mention his name as to not aggravate his vagina. Should probably throw Dufus in there to but he’s more worried about keeping his threads at the top of the page than defending Joey the Dunce.

Regardless, it’s really indefensible so I could care less what they have to say. This is the cowardice of the liberals. The most insidious power they have is the power to ignore.

[robert.]

"So... the gas at the pumps was produced some time ago" Ruffus I tried till i was blue in the face to explain this to some people. Prices should still be low. In six weeks they should go up. That is when $136 a barrel will be sold. Arouns here gas stations are hiking up prices 3 times a day. That should be illegal. PA. tried years ago to pass a law. You can't raise prices of gas unless you get a fresh delivery. It's all greed and speculators hiking the price.

[robert.]

"So... the gas at the pumps was produced some time ago" Ruffus I tried till i was blue in the face to explain this to some people. Prices should still be low. In six weeks they should go up. That is when $136 a barrel will be sold. Arouns here gas stations are hiking up prices 3 times a day. That should be illegal. PA. tried years ago to pass a law. You can't raise prices of gas unless you get a fresh delivery. It's all greed and speculators hiking the price.

Let these two photos show how high prices effect everybody. Even those that don't drive. Dash photo is my international pulling a hill in Caroline county VA. on rt 301. First photo is price at the pump in Annapolis.

[E7]

Let these two photos show how high prices effect everybody. Even those that don't drive. Dash photo is my international pulling a hill in Caroline county VA. on rt 301. First photo is price at the pump in Annapolis.

You betcha! Even if you walk everywhere you go, you will be affected by prices to get goods to where you live. Don't believe it? Look at the prices at the grocery store. If you purchase anything you will feel the pinch, unless you are ultra wealthy!

[v8vega]

Most people buy gas weekly and each and every time Bidens inflation and gas price is going to frost their rear. They'll remember this November.

[Rufus T. Firefly]

Most people buy gas weekly

No....even when I was working full time that was not happening. But I guess if you're this guy.....



maybe....

They'll remember this November.

Sadly, true. Rational thought tends to be totally absent.

[HONDO74]

And as long as the auto industry is stupid enough to make those big A$$ trucks there will be plenty of stupid people to buy them.....

But then this thing doesn't get very good fuel mileage either. But it's a necessity and the other isn't