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

[v8vega]

He closed the Keystone pipeline, he stopped oil exploration, fracking, shale oil. We are now importing oil. we were selling it under Trump. 3 more years of this moron we are so screwed.
At this mornings TV story as soon as he finished his remarks all the reporters had questions and he turned his back and walked out. Man what a piss poor so called president.This is going to really increase inflation badly. Even at the really high prices we probably will have lines to get gas.
He didn't say a word about increasing our own oil production which Trump had so good.

[healey36]

Baloney...see here:

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

Now that the price of crude is back up to sustainable levels for the expensive drilling/pumping methods used by domestic producers, 2022 U. S. domestic production will likely dwarf prior years.

[Rufus T. Firefly]

Baloney...

You are far too kind.....it's nothing less than the usual demented ranting.

Imports are at an all time low and production is at at all time high.

Oh yes, we are getting shafted by the oil companies; WTI prices are still below the 2008 price yet gas is going up, up , up. We're getting gouged while the oil companies are using every excuse available that complete numpties will swallow.

[healey36]

But then there's this:

https://www.yahoo.com/news/hundreds-pounds-contraband-bologna-found-170959569.html

Maybe they should build a wall.

[robert.]

Baloney...

You are far too kind.....it's nothing less than the usual demented ranting.

Imports are at an all time low and production is at at all time high.

Oh yes, we are getting shafted by the oil companies; WTI prices are still below the 2008 price yet gas is going up, up , up. We're getting gouged while the oil companies are using every excuse available that complete numpties will swallow.

It's amazing aint it. Price per barrel of crude is around $135 today How long does it take to get that refined and into a pump? 6-8 weeks maybe? That's when the price should go up. Pure capitalism at it's best. Everybody throws another dime onto the cost and blames the next guy. Cutting use of Russia's oil won't make use short on supply. If you go by how much we import. It will make the EU very short on supply. If the EU starts to source oil needs from other producers that will make us short on supply. Not today , tomorrow or the next day. Come June we may see supply shortage.
IMHO. This is WWW3. It has only just started. Still in the pawn structure phase. A few more moves then a castling. control the corners with your bishops and giddy up. Would you rather be punched in the nose or have your assets frozen and seized ?
I would like for somebody to explain to me how they see this ending well.

[gregj410]

Say what you will but this all started when Joey the Dunce took over.

[HONDO74]

Maybe someone can explain why we were importing Russian oil.

Has anyone noticed that Europe is not cutting off Oil and gas from Russia.

If we are doing so well with production, why is Biden trying to get Saudi Arabia and the rest of OPEC to up production. Especially since Biden and the Democrats have been pushing the green initiative to eliminate the use of fossil fuels.

This would be the perfect time all the liberals to jump on the bandwagon and stop using fossil fuels. Get out and buy an electric car. Show us how to do it... You lead we will follow.

[HONDO74]

Oh yes, we are getting shafted by the oil companies; WTI prices are still below the 2008 price yet gas is going up, up , up. We're getting gouged while the oil companies are using every excuse available that complete numpties will swallow.

Well if the oil companies are shafting you, how about that Pennsylvania turnpike.
To travel from tip-to-tip on the Pennsylvania Turnpike starting on the western side of the state, travelers will fork over a hefty $112.90, or roughly $0.26 per mile according to the turnpike's toll calculator.

And on top of that you are paying. TAX
Liquid fuels (motor gasoline and gasohol) $0.576/gallon

Fuels (undyed diesel and undyed kerosene) $0.741/gallon

Add the federal tax on top of that and it looks like the government is getting more money from a gallon of fuel than the oil companies.....

[healey36]

Look, the energy sector is in the process of being turned on its head, and that’s something that started a decade or so ago, not something that was initiated in the last 12 months. Is the current administration supportive of “alternative” energy tech? Sure they are, but the notion that domestic production of petroleum has been slashed by the Federal government during the past year is just ridiculous.

Economists, IMHO, are a bunch of cold-hearted effers who spend their careers trying to make quantitative sense of things that do not easily translate into numbers. If supply goes down, prices go up. If wages increase in a sector, more people will seek jobs in that sector. The concepts of substitutive pricing, marginal utility, etc., I get all of that. The thing they don’t do well, IMHO, is measuring the social and cultural cost of steering an economy based on their data.

A great example of this is the whole notion of “globalization”, a concept, IMHO, foisted upon us by the economic/political brain-trust in this country. Let the world’s best manufacturers manufacture, let the world’s best servicers service, let the world’s best growers grow, and let those sitting on vast piles of natural resources mine/extract. The economists ran the numbers and said, “Yup, looks like a good plan.” In the long haul everything will balance out monetarily, poor countries will be raised up, and the rich countries will benefit from the lower cost for goods and materials. The bit they didn’t think through is the economic gutting of broad swathes of this and other countries as things began to shift. The economists said we would have to move from a manufacturing economy to a service economy, but that rings hollow. It might take ten people to manufacture an automobile, but it only takes one to service them, and we can’t all sell hamburgers to each other. The people caught up in the poorly executed shift got crushed, which has gone far in leading us into the current political hyper-division of the country. Perot warned about this back in the late 1980s and early 1990s, the “great sucking sound” as he called it, but we blew him off as some sort of crackpot.

“Alternative” energy looks economically and politically attractive for a number of reasons. We see it as a way to mitigate the effects of climate-change. We see it as a way to escape the undue influence of the world’s crude oil producers. We see it as yet another opportunity for America to economically reinvent itself (similar to the construction of the railroads, the development of domestic oil/gas production, the interstate highway system, the internet, etc., all of which led to vast booms in the domestic economy).

There are a number of problems, as I see it, the first being that the laws of physics make energy a zero-sum game. Electricity has to be generated, and to do so we will need to erect millions of windmills on all of our mountain tops and shorelines, pave over vast spaces with solar panels, and guess what, build/upgrade power-plants likely to burn a bunch of oil/coal/gas in the near term, possibly forever. Are we good with that? The economists tell us we need to be. If we proceed with the shift away from petrochemical-sourced energy toward electricity, are we good with the economic gutting of states heavily invested in the current energy sector (New Jersey, West Virginia, Kentucky, Oklahoma, Texas, Louisiana, etc.), and will other states be willing to accept the filth that comes with manufacturing vast numbers of batteries or the mining of rare earth metals? Nuclear? Nobody wants that in their backyard. Yet, the economists tell us we need to be.

Maybe they are right and we have to be; it’s a terrifically complex problem. If so, it needs to be carefully examined, planned, and executed (unlike that seen during the march to globalization), all while cognizant of the notion that many of the social problems we have in this country center on whether people have money in their pocket and the sense of well-being that comes with that. Until then, we could stand a bit less political arrogance from those blindly promoting alternative fuels, while simultaneously acknowledging we can’t continue with what we’ve been doing for the last 100 years.

Also, if you think the oil companies aren't taking a few liberties during the current situation, I have a bridge I want to sell you. That's capitalism, baby, pure and simple.

My two cents…

[robert.]

Simple solution. Use less energy. Turn off your lights. You can drive by the local courthouse, high school and shopping center at 1am. All 3 will have almost every light on. Same with NYC. No need to light that skyline. That goes for for bridges also. Turn them. Vegas doesn’t need all those lights. Turn them off. Digital billboards turn them off. It’s easier to use less energy than make cheaper cleaner energy.

[HONDO74]

After The Fukushima nuclear disaster in 2011 Germany decided to shut down their nuclear power plants. They went back to using coal and then gas for energy. They hooked up with Russia to provided what they needed. The Nordstream pipelines direct from Russia through the Baltic sea. The other pipelines to Europe are through the Ukraine. And they pay the Ukraine to use them.

Europe needs to show Russia who's boss and shut down all those pipelines....
Where is Greta Thunberg when you need her. She should be out there pounding the beat to stop using fossil fuels. After all we ruined her childhood and future burning them

China, India and Turkey will buy all the oil and gas that Russia will sell them.

China is the biggest producers of electric cars in the world and they are in the process of cornering the market on all the raw materials that are needed to do it.

When this is over with, China is going to be the 800 LB gorilla in the room. They will be ready to sell the world everything they need to go green. While they continue to burn coal and gas to produce everything that's needed

[gregj410]

Vegas doesn’t need all those lights

Tell the businesses like Louis Vitton(sp?) who get robbed in broad daylight they need to turn there lights off at night to conserve energy.

[v8vega]

Average price of regular gas in the Los Angeles area now is $5.60, it was $3 something when Trump was in.

[HONDO74]

Average price of regular gas in the Los Angeles area now is $5.60, it was $3 something when Trump was in.

You will be lucky if you don't have to pay $10 this year. You are going to have to buy an electric car. They will be coming in from China like everything else.

[healey36]

When this is over with, China is going to be the 800 LB gorilla in the room.

They already are.