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It dropped below $70 the other day. Big Oil sets its own prices, based on what it thinks they can get away with without public outrage sending mobs of angry villagers swarming over their castle walls.
No, it really doesn't work that way. All energy prices are set in the commodities markets. That is generally guided by supply and demand.
No, they're set by a handful of companies, who collude to put prices where ever they are all comfortable with, whether nationally owned like the Saudis or semi-privates like Exxon and BP. When they cut prices, it's to keep market shares out of the hands of outsider, then they raise prices again after the competition is routed. That's why they're called oligarchies.
If that was so, why were prices so low under Trump? I bet the Russians are behind it Is that why Slo Joe blew up the Nordstream Pipeline?No, they're set by a handful of companies, who collude to put prices where ever they are all comfortable with, whether nationally owned like the Saudis or semi-privates like Exxon and BP. When they cut prices, it's to keep market shares out of the hands of outsider, then they raise prices again after the competition is routed. That's why they're called oligarchies.
It doesn't work that way. Trust me, I spent several years trading commodities.
Energy is not a domestic market, it's a worldwide market. All energy is sold on the worldwide market.
Example: after Dementia opened up our strategic reserves, articles were written that he sold our oil to China. Partly true. Our oil was sold like it always was, again, the worldwide market. China just happened to be one of the many countries that bought our oil. Biden had no control over that.
The idea was to put more oil into the market place helping to lower our prices. If American oil companies controlled prices, we would have been paying $10.00 a gallon for the last 20 years and nobody could do a thing about it.
If that was so, why were prices so low under Trump? I bet the Russians are behind it Is that why Slo Joe blew up the Nordstream Pipeline?
The price of oil today is not $109, idiot.
Example: after Dementia opened up our strategic reserves, articles were written that he sold our oil to China. Partly true. Our oil was sold like it always was, again, the worldwide market.
It's getting old having to prove you tards' "Biden's war on oil" bullshit wrong over and over.If that was so, why were prices so low under Trump? I bet the Russians are behind it Is that why Slo Joe blew up the Nordstream Pipeline?
A fiction used to gouge domestic customers. The largest producer country paying the same for a barrel countries with no production do is just stupid hair brained idiocy, especially when they're plundering our strategic reserves.
It's getting old having to prove you tards' "Biden's war on oil" bullshit wrong over and over.
US oil production increased by 30 percent in Biden's first year. It only increased by 20 percent in Trump's first year. And they both started from the same level. So tell me why Trump hates America!
Next:
New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%
New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration’s first-year total of 2,658.
Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management’s New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits — more than twice the 71 drilling permits Trump approved in that state in his first year.
More fun:
U.S. Energy Independence Has Grown
Using the definition of exports minus imports, 2021 was our highest level of energy independence in history.
Actually they don't. The market sets the price. Do you think farmers set the price for their products?It dropped below $70 the other day. Big Oil sets its own prices, based on what it thinks they can get away with without public outrage sending mobs of angry villagers swarming over their castle walls.