Biden blames gas prices on Putin... so how much oil does Russia provide??? FACTS folks!

[surada]

What US law? Are you naive? LOL.

There is no law that US oil majors MUST sell to highest bidder.

Jeez. You completely missed the point.

 

[DarthTrader]

Right away you show your stupidity and ignorance!
"Under US law a CEO has to maximise the profits of his company for his shareholders"????
Having been a stock broker that's the first time in 60 years I've heard that the Federal government has a written law that says a CEO has to maximize profits! Please once again you make a statement with NO proof! But further more your logic is so poor!
You are saying that "nationalizing" US oil companies will force them NOT to make a profit by keeping oil here. Right? So who pays for the refineries that refine the oil to gas? Who then distributes the gas to the stations? Who then owns the stations that ultimately charge the customers? See ignorant nationalization people like you seem to forget why capitalism works. Everyone gets a piece and not what is dictated like Putin does! What a dumb ass comment!
See dummy I do a little research!!!

The rule of capture or law of capture is common law from England, adopted by a number of U.S. jurisdictions, that establishes a rule of non-liability for captured natural resources including groundwater, oil, gas, and game animals. The general rule is that the first person to "capture" such a resource owns that resource. Rule of capture - Wikipedia en.wikipedia.org But of course YOU didn't do any research before you spouted off your stupidity regarding "nationalization!" Truly shows why people are getting dumber like YOU! Do some research before you write!

Damn bro 60 years is a long time.

Side question, if I am up about 12% each month during this bear market, think I'm doing pretty decent?

 

[DarthTrader]

Jeez. You completely missed the point.

I don't miss any point. The point is invalid. Oil markets are more complex than just one single global market.

Hence the WTI, Brent, Urals, etc...a bunch of localized markets.

 

[healthmyths]

Damn bro 60 years is a long time.

Side question, if I am up about 12% each month during this bear market, think I'm doing pretty decent?

Congratulations as a 144% annual appreciation is definitely a winner but ...

• GameStop was the top stock of 2021 with a year-to-date total return of 815.0%.

The Top (and Bottom) 5 Stocks of 2021

GameStop, Upstart, Moderna, Devon Energy, and Continental Resources are the top stocks of the year. The bottom 5 are Peloton, GoHealth, Paysafe, C3.ai, and StoneCo.

www.investopedia.com

 

[surada]

7%. That's it. Tied with Saudi Arabia.
Yet Biden blames high gas prices on Russia.
7% of all imported oil... Russia.
So how much oil is used by USA per day?
In 2021, the United States consumed an average of about 19.78 million barrels of petroleum per day, or a total of about 7.22 billion barrels of petroleum.

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

Of which..7,860,000 barrels or 39% of the 19.78 million barrels from imports AND of the oil imported...
less than 3% from Russia.
Hmmm... so what was the cost of a gallon of gas under Trump? lowest price was $1.938 ... 04/1/20.
Today: gallon of gas $4.08 or 110% more than under Trump.
And Biden blames Russia???

Biden Blames Putin for Gasoline Prices,​

Biden Blames Putin for Gasoline Prices, Touts Higher-Ethanol Plan

President Joe Biden blamed a four-decade inflation high-water mark on Russian President Vladimir Putin’s invasion of Ukraine as he touted his administration’s as-yet unsuccessful efforts to lower gasoline prices.

www.bloomberg.com

View attachment 629713

Before Trump placed sanctions on Venezuela we bought very little oil from Russia or OPEC

 

[surada]

I don't miss any point. The point is invalid. Oil markets are more complex than just one single global market.

Hence the WTI, Brent, Urals, etc...a bunch of localized markets.

Yes. We also have refineries that refine heavy, sour crude.