Biden administration stoking higher energy prices with oil and gas crackdown

[surada]

No you kept making shit up and stating it as fact and proven wrong and now you’re scrambling. Done with you.

Fine. Stay stupid.

 

[Doc7505]

EXCLUSIVE: The Biden administration is exacerbating soaring energy prices by cracking down on the oil and gas industry with new regulations that limit production and discourage investments in traditional energy infrastructure, according to a new analysis published Wednesday by the Joint Economic Committee Republicans.

For months, the prices of all kinds of energy – gasoline, diesel fuel, natural gas, oil and more – have been a major driver behind inflation, which surged 7% in December, the highest level since 1982. Energy costs have climbed more than 29% over the past year, in part due to lopsided supply and demand. Consumers are traveling more, but the supply side has not kept up with the demand.

SURGING INFLATION TAKES HOLD IN MOUNTAIN STATES, WITH RATES NEAR 9%

But it's more complicated than that: The JEC study, shared exclusively with FOX Business, shows how President Biden's policies have stoked higher energy prices by "imposing new barriers to accessing American oil and gas reserves, and by discouraging investment in these historically reliable and inexpensive sources of energy." Rep. Mike Lee, R-Utah, is the ranking member of the Joint Economic Committee.

"Washington is sending conflicting messages," the report, authored by economist Hugo Dante and data analyst Kole Nichols, said. "Policymakers seem simultaneously concerned about high prices reflecting the weak supply of oil and gas, while aggressively pursuing an agenda designed to entirely phase-out oil and gas from domestic energy production."

In the early days of the pandemic, the U.S., like other oil-producing countries, shut down production and canceled new investments in expanded capacity, leading to the lowest level of oil and gas wells in the U.S. on record in the summer of 2020. But while demand has rebounded since then, production capacity remains about 13% below pre-pandemic levels, the JEC report shows.

https://www.foxbusiness.com/economy/...lation-oil-gas

MORE PROOF THAT DEMOCRATS HATE THE WORKING CLASS

Joey Xi Bai dung just left the podium. In his speech he blamed the current crisis in Europe. Yet, the price of all fuels began in January 2021 when gasoline was a mere $1,87/gallon.
His ban on Russian oil will raise prices beyond $5.00/gallon, because of his actions against domestic oil production. In California you will soon see gasoline at more than $6.00/gallon.
Joey Xi is causing the inflation, despite whatever he claims.

 

[surada]

No you kept making shit up and stating it as fact and proven wrong and now you’re scrambling. Done with you.

Oil companies don't invest in increased capacity when the ppb is $50 a barrel. Their profit margins have remained at 7-8 percent for decades. The reason oil production soared when Obama was president is because the ppb was high. Everybody was back in the game. Rig counts were higher than they had been in 44 years. ... Always remember the oil business is a business and the business hates a warzone.

 

[surada]

Shale oil producers are meeting with OPEC this week. They are looking for solutions and they didn't ask for advice from you or Trump.

 

[Doc7505]

Oil companies don't invest in increased capacity when the ppb is $50 a barrel. Their profit margins have remained at 7-8 percent for decades. The reason oil production soared when Obama was president is because the ppb was high. Everybody was back in the game. Rig counts were higher than they had been in 44 years. ... Always remember the oil business is a business and the business hates a warzone.

The price of gasoline just rose to $6.999/gallon in California. Keep telling us that it's Trump's fault. especially when the price of crude oil just hit $150/barrel today.
I can remember when gasoline at the pump was $0.249/gallon.

 

[Bobob]

EXCLUSIVE: The Biden administration is exacerbating soaring energy prices by cracking down on the oil and gas industry with new regulations that limit production and discourage investments in traditional energy infrastructure, according to a new analysis published Wednesday by the Joint Economic Committee Republicans.

For months, the prices of all kinds of energy – gasoline, diesel fuel, natural gas, oil and more – have been a major driver behind inflation, which surged 7% in December, the highest level since 1982. Energy costs have climbed more than 29% over the past year, in part due to lopsided supply and demand. Consumers are traveling more, but the supply side has not kept up with the demand.

SURGING INFLATION TAKES HOLD IN MOUNTAIN STATES, WITH RATES NEAR 9%

But it's more complicated than that: The JEC study, shared exclusively with FOX Business, shows how President Biden's policies have stoked higher energy prices by "imposing new barriers to accessing American oil and gas reserves, and by discouraging investment in these historically reliable and inexpensive sources of energy." Rep. Mike Lee, R-Utah, is the ranking member of the Joint Economic Committee.

"Washington is sending conflicting messages," the report, authored by economist Hugo Dante and data analyst Kole Nichols, said. "Policymakers seem simultaneously concerned about high prices reflecting the weak supply of oil and gas, while aggressively pursuing an agenda designed to entirely phase-out oil and gas from domestic energy production."

In the early days of the pandemic, the U.S., like other oil-producing countries, shut down production and canceled new investments in expanded capacity, leading to the lowest level of oil and gas wells in the U.S. on record in the summer of 2020. But while demand has rebounded since then, production capacity remains about 13% below pre-pandemic levels, the JEC report shows.

https://www.foxbusiness.com/economy/...lation-oil-gas

MORE PROOF THAT DEMOCRATS HATE THE WORKING CLASS

2 days ago

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Have Biden Administration Policies Reduced U.S. Oil Production?

 

[Doc7505]

2 days ago

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View attachment 613191
View attachment 613192
Have Biden Administration Policies Reduced U.S. Oil Production?

Doesn't change the truth. In fact, it firms up that Joey Xi is flat out lying.

 

[Ordinary Guy]

2 days ago

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View attachment 613191
View attachment 613192
Have Biden Administration Policies Reduced U.S. Oil Production?

production and exports are down, Biden is fucking this country up in a bad way, I can afford 10.00/gallon gas, I am laughing at every democrat that voted for this fucking idiot

 

[B. Kidd]

production and exports are down, Biden is fucking this country up in a bad way, I can afford 10.00/gallon gas, I am laughing at every democrat that voted for this fucking idiot

I feel bad for the working poorer who are the muscle for our necessities like food and other goods who can't catch a break under Sippy Cup douchebag!!
Yet, we are encouraged to send donations to Ukraine!!

 

[candycorn]

doesn't change my thread, moving the goalposts does not give you the win, shame your story misses how many pipelines Biden has shut down or working toward shutting down

Hate to tell you this but he won with one punch.

I lied....I love telling you that.

 

[Bobob]

production and exports are down, Biden is fucking this country up in a bad way, I can afford 10.00/gallon gas, I am laughing at every democrat that voted for this fucking idiot

Your mind is made up, so I won't confuse you with the facts.

 

[Bobob]

Doesn't change the truth. In fact, it firms up that Joey Xi is flat out lying.

Has to do with what he is doing, not what he is lying about, lambchop.

 

[Ordinary Guy]

Hate to tell you this but he won with one punch.

I lied....I love telling you that.

only a moron would think that

 

[Ordinary Guy]

Your mind is made up, so I won't confuse you with the facts.

if you had any you would put them out there, don't blame you though

 

[candycorn]

only a moron would think that

only a moron would have started the thread in the first place. You've been destroyed.

 

[Ordinary Guy]

only a moron would have started the thread in the first place. You've been destroyed.

sorry, your attacks mean nothing extremist, fact is Biden has targeted oil and gas, even small drillers. He would rather source oil from our enemies to extort the American people with.

 

[candycorn]

sorry, your attacks mean nothing extremist, fact is Biden has targeted oil and gas, even small drillers. He would rather source oil from our enemies to extort the American people with.

Quite the imagination you have there. I guess over-medication has its benefits.

 

[Ordinary Guy]

Quite the imagination you have there. I guess over-medication has its benefits.

your mom is calling, your ravioli is calling junior

 

[Bobob]

if you had any you would put them out there, don't blame you though

Yo Brandon. Biden did not stop drilling--nada, niet. He increased oil drilling leases. He knows, as do most others, that to become energy independent, we must get away from oil dependence and that is the goal in time. You are still paying the market rate for gas, so you are still energy dependent. If you did some study before flapping, you would understand this concept.

 

[Ordinary Guy]

Yo Brandon. Biden did not stop drilling--nada, niet. He increased oil drilling leases. He knows, as do most others, that to become energy independent, we must get away from oil dependence and that is the goal in time. You are still paying the market rate for gas, so you are still energy dependent. If you did some study before flapping, you would understand this concept.

he failed to renew existing leases, try to keep up if you can. He shutdown a pipeline capable of supplying 830k barrels per day, extra cushion over and above the the 650k we get from Russia. He made enemies out of the Saudi's (our best allies in the Middle East) who with little effort could have prevented us having to beg IRAN and Venezuela but as we have seen in the past Democrats over and over prefer to deal with the scumbags of the world for needs