Surging U.S. Oil Production Brings Down Prices

[g5000]

Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears

American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.

www.nytimes.com

Let's go Brandon!

Only three years after U.S. oil production collapsed during the pandemic, energy companies are cranking out a record 13.2 million barrels a day, more than Russia or Saudi Arabia. The flow of oil has grown by roughly 800,000 barrels a day since early 2022, and analysts expect the industry to add another 500,000 barrels a day next year.

[snip]

With the surge in output, gasoline prices have fallen by close to $2 a gallon since the summer of 2022 and are back to levels that prevailed in 2021. The increase in production has also provided the Biden administration with substantial leverage in its dealings with oil-exporting foes like Russia, Venezuela and Iran while reducing its need to cajole more friendly countries like Saudi Arabia to temper prices.


[snip]

The United States now exports roughly four million barrels a day, more than any member of the Organization of the Petroleum Exporting Countries except Saudi Arabia.

[snip]

Nearly every extra barrel of American crude produced is being exported, mostly to Europe and Asia, where supplies are tight. In addition, the natural gas that often bubbles up with oil has led to record exports of gas and helped to lower prices for that fuel and for electricity, much of which is produced at gas-fired power plants in the United States.

The surge in U.S. production has helped to end the energy crisis that gripped Europe after Russia invaded Ukraine — at least for now. European countries have replaced much of the gas they were buying from Russia with gas from the United States, Qatar and other exporters. They have also reduced their use of natural gas, a phenomenon that a mild winter last year helped.

US oil production is the highest in history.

Inflation is dropping.

Food prices are dropping.

Oil prices are dropping.

We are at full employment.

Anyone who wants a job can get a job.

What is left for Trump supporters to whine about? Trannies?

 

[g5000]

 

[progressive hunter]

Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears

American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.

www.nytimes.com

Let's go Brandon!

Only three years after U.S. oil production collapsed during the pandemic, energy companies are cranking out a record 13.2 million barrels a day, more than Russia or Saudi Arabia. The flow of oil has grown by roughly 800,000 barrels a day since early 2022, and analysts expect the industry to add another 500,000 barrels a day next year.

[snip]

With the surge in output, gasoline prices have fallen by close to $2 a gallon since the summer of 2022 and are back to levels that prevailed in 2021. The increase in production has also provided the Biden administration with substantial leverage in its dealings with oil-exporting foes like Russia, Venezuela and Iran while reducing its need to cajole more friendly countries like Saudi Arabia to temper prices.


[snip]

The United States now exports roughly four million barrels a day, more than any member of the Organization of the Petroleum Exporting Countries except Saudi Arabia.

[snip]

Nearly every extra barrel of American crude produced is being exported, mostly to Europe and Asia, where supplies are tight. In addition, the natural gas that often bubbles up with oil has led to record exports of gas and helped to lower prices for that fuel and for electricity, much of which is produced at gas-fired power plants in the United States.

The surge in U.S. production has helped to end the energy crisis that gripped Europe after Russia invaded Ukraine — at least for now. European countries have replaced much of the gas they were buying from Russia with gas from the United States, Qatar and other exporters. They have also reduced their use of natural gas, a phenomenon that a mild winter last year helped.

US oil production is the highest in history.

Inflation is dropping.

Food prices are dropping.

Oil prices are dropping.

We are at full employment.

Anyone who wants a job can get a job.

What is left for Trump supporters to whine about? Trannies?

to little to late,,

and how does this go with the narrative we have had for three yrs where we have been told POTUS cant do anything about gas prices??

sure sounds like joe intentionally fucked us for 3 yrs and only now does something because its an election yr,,,

you mindless drones are easily placated,,

 

[drudge X]

Lol...prices aren't coming down. Per gallon is still 100% more today than when Trump was in office. Food prices aren't dropping. Layoffs are continuing.

 

[g5000]

to little to late,,

and how does this go with the narrative we have had for three yrs where we have been told POTUS cant do anything about gas prices??

Trump took credit, and you gave him credit.

So guess what, goose? The gander gets to take credit.

sure sounds like joe intentionally fucked us for 3 yrs and only now does something because its an election yr,,,

you mindless drones are easily placated,,

It's not an election year.

 

[Calypso Jones]

We're exporting oil!!!!! WHY are we doing that!!!

 

[drudge X]

to little to late,,

and how does this go with the narrative we have had for three yrs where we have been told POTUS cant do anything about gas prices??

sure sounds like joe intentionally fucked us for 3 yrs and only now does something because its an election yr,,,

you mindless drones are easily placated,,

This is similar to idiots who paid off their mortgage entirely during their 25th year for a 30-year mortgage and celebrate. Fools don't realize the bank is already full from interest alone.

 

[progressive hunter]

Trump took credit, and you gave him credit.

So guess what, goose? The gander gets to take credit.


It's not an election year.

the topic is biden and gas prices not trump,,

 

[Calypso Jones]

THe OP is 'gaslighting' us. We see what's going on out here cause WE LIVE IT and he's blowing smoke up our asses telling us we're not experiencing what we're experiencing. LOL. ny times indeed.

 

[g5000]

Lol...prices aren't coming down. Per gallon is still 100% more today than when Trump was in office. Food prices aren't dropping. Layoffs are continuing.

Remember all that whining about the price of eggs?

Prices declined for three food-at-home categories between September and October 2023. Four food-at-home categories had lower prices in October 2023 compared with October 2022: eggs, fresh vegetables, fish and seafood, and dairy products.

USDA ERS - Summary Findings

ERS research and reporting of the Consumer Price Index (CPI) for food contributes to an understanding of which food categories experience substantial price changes, how consumers spend their incomes on food, and how and why prices change.

www.ers.usda.gov

FAO Food Price Index | Food and Agriculture Organization of the United Nations

FAO Food Price Index continues to drop, but at a slower pace​

​

 

[g5000]

the topic is biden and gas prices not trump,,

Nice try, sour grapes boi.

 

[Crepitus]

Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears

American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.

www.nytimes.com

Let's go Brandon!

Only three years after U.S. oil production collapsed during the pandemic, energy companies are cranking out a record 13.2 million barrels a day, more than Russia or Saudi Arabia. The flow of oil has grown by roughly 800,000 barrels a day since early 2022, and analysts expect the industry to add another 500,000 barrels a day next year.

[snip]

With the surge in output, gasoline prices have fallen by close to $2 a gallon since the summer of 2022 and are back to levels that prevailed in 2021. The increase in production has also provided the Biden administration with substantial leverage in its dealings with oil-exporting foes like Russia, Venezuela and Iran while reducing its need to cajole more friendly countries like Saudi Arabia to temper prices.


[snip]

The United States now exports roughly four million barrels a day, more than any member of the Organization of the Petroleum Exporting Countries except Saudi Arabia.

[snip]

Nearly every extra barrel of American crude produced is being exported, mostly to Europe and Asia, where supplies are tight. In addition, the natural gas that often bubbles up with oil has led to record exports of gas and helped to lower prices for that fuel and for electricity, much of which is produced at gas-fired power plants in the United States.

The surge in U.S. production has helped to end the energy crisis that gripped Europe after Russia invaded Ukraine — at least for now. European countries have replaced much of the gas they were buying from Russia with gas from the United States, Qatar and other exporters. They have also reduced their use of natural gas, a phenomenon that a mild winter last year helped.

US oil production is the highest in history.

Inflation is dropping.

Food prices are dropping.

Oil prices are dropping.

We are at full employment.

Anyone who wants a job can get a job.

What is left for Trump supporters to whine about? Trannies?

But Biden is going to "end oil" and the economy is just awful!!!

 

[g5000]

We're exporting oil!!!!! WHY are we doing that!!!

Profits.

From the link:

On balance, the United States still imports more than it exports because domestic demand exceeds supply and many American refineries can more easily refine the heavier oil produced in Canada and Latin America than the lighter crude that oozes out of the shale fields of New Mexico, North Dakota and Texas.

 

[Crepitus]

to little to late,,

and how does this go with the narrative we have had for three yrs where we have been told POTUS cant do anything about gas prices??

sure sounds like joe intentionally fucked us for 3 yrs and only now does something because its an election yr,,,

you mindless drones are easily placated,,

YOu told us he did. Are you changing your mind?

 

[drudge X]

Remember all that whining about the price of eggs?

Prices declined for three food-at-home categories between September and October 2023. Four food-at-home categories had lower prices in October 2023 compared with October 2022: eggs, fresh vegetables, fish and seafood, and dairy products.

USDA ERS - Summary Findings

ERS research and reporting of the Consumer Price Index (CPI) for food contributes to an understanding of which food categories experience substantial price changes, how consumers spend their incomes on food, and how and why prices change.

www.ers.usda.gov

FAO Food Price Index | Food and Agriculture Organization of the United Nations

FAO Food Price Index continues to drop, but at a slower pace​

​

Go to the grocery store and then report back instead of being a Bidenbot.

 

[Crepitus]

We're exporting oil!!!!! WHY are we doing that!!!

Gonna hafta talk to the oil company executives about that.

 

[drudge X]

But Biden is going to "end oil" and the economy is just awful!!!

Lol ..Biden said that.

 

[Crepitus]

Lol...prices aren't coming down. Per gallon is still 100% more today than when Trump was in office. Food prices aren't dropping. Layoffs are continuing.

I filled up at $2.18 not 2 hours ago.

 

[g5000]

THe OP is 'gaslighting' us. We see what's going on out here cause WE LIVE IT and he's blowing smoke up our asses telling us we're not experiencing what we're experiencing. LOL. ny times indeed.

You are being told the economy sucks by your propagandists. That's where the gaslighting is happening.

If you live in a red state, gas prices are at or below $3.00 a gallon right now. But your propagandists go out of their way to show you some gas station in California with $5.00 gas.

 

[Calypso Jones]

Profits.

From the link:

On balance, the United States still imports more than it exports because domestic demand exceeds supply and many American refineries can more easily refine the heavier oil produced in Canada and Latin America than the lighter crude that oozes out of the shale fields of New Mexico, North Dakota and Texas.

profits. for ukraine. or iran?