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

[occupied]

My personality is fine. You just don't know what you're talking about. People keep explaining to you the most basic fact and you deny reality.

Less oil lifted under Biden. Period.

And yet no one seems interested in why that is nor can they explain how Biden has the power to do it. The oil is there and the oil companies own the rights to extract as much as they want. It takes years to develop an oil field so it's not like they could have possibly gotten behind after a year and a half. Refineries are operating at near capacity. Still trying to see how Biden is single-handedly responsible. It makes no sense but it does not have to when you are just trying to turn an oil spike to republican advantage.

 

[DarthTrader]

And yet no one seems interested in why that is nor can they explain how Biden has the power to do it. The oil is there and the oil companies own the rights to extract as much as they want. It takes years to develop an oil field so it's not like they could have possibly gotten behind after a year and a half. Refineries are operating at near capacity. Still trying to see how Biden is single-handedly responsible. It makes no sense but it does not have to when you are just trying to turn an oil spike to republican advantage.

It's simple why.

• Democrats have pressured banks to stop lending to oil upstream.
• Democrats have revoked the most productive (cheapest to lift) leases.
• Democrats have stifled pipeline building so there's no way to transport extra production.

Easy.

 

[occupied]

It's simple why.

• Democrats have pressured banks to stop lending to oil upstream.
• Democrats have revoked the most productive (cheapest to lift) leases.
• Democrats have stifled pipeline building so there's no way to transport extra production.

Easy.

Not sure where you are from but here in America oil companies get everything they want eventually. There are plenty of republicans in oil producing states willing to give away the store to any oil man that walks through the door. We still give the industry massive tax breaks and subsidies and with only a couple of notable exceptions they get every mile of pipeline they want. Face it. There's no way to blame this all on Biden and leave the world-wide oil industry blameless. It political hackery and we both know it.

 

[DarthTrader]

Not sure where you are from but here in America oil companies get everything they want eventually. There are plenty of republicans in oil producing states willing to give away the store to any oil man that walks through the door. We still give the industry massive tax breaks and subsidies and with only a couple of notable exceptions they get every mile of pipeline they want. Face it. There's no way to blame this all on Biden and leave the world-wide oil industry blameless. It political hackery and we both know it.

No.

The three points I made are facts now. Oil downstream finds it hard to find financing, finds it hard to find good leases, finds it hard to transport. Thanks to Biden.

 

[occupied]

No.

The three points I made are facts now. Oil downstream finds it hard to find financing, finds it hard to find good leases, finds it hard to transport. Thanks to Biden.

Here in America anyone can invest in oil. Why are they not? No one is stopping you or anyone from dropping cash on any speculative petroleum venture large or small.

As I said, it takes years to develop an oil field. Biden has not been in office long enough to have stalled anything significant even if he had the power to do so.

It also seems like you are saying all the leases they already have are duds. The oil companies are not that stupid nor does public land hold all the remaining oil in America.

 

[DarthTrader]

Here in America anyone can invest in oil. Why are they not? No one is stopping you or anyone from dropping cash on any speculative petroleum venture large or small.

As I said, it takes years to develop an oil field. Biden has not been in office long enough to have stalled anything significant even if he had the power to do so.

It also seems like you are saying all the leases they already have are duds. The oil companies are not that stupid nor does public land hold all the remaining oil in America.

You're pretty dense. Equity financing is expensive. Good companies need access to debt financing, which banks big enough to provide such massive liquidity are pressured by the Democrats to stop. Maybe you need to look into this more than you have.

Amateur

 

[LeftofLeft]

Every time there is a price spike on gasoline Americans again refuse to learn how oil is bought and sold and just how helpless we are to do anything about it.

Biden Harris ran on restriction domestic oil exploration and production. That put America dependent and vulnerable to foreign oil. You refuse to learn fundamental economics. Pick up a book and turn to the page on egregious government regulation.

 

[occupied]

You're pretty dense. Equity financing is expensive. Good companies need access to debt financing, which banks big enough to provide such massive liquidity are pressured by the Democrats to stop. Maybe you need to look into this more than you have.

Amateur

LOL you think democrats have enough pull at the big banks to make them walk away from a profit? No one stands in the way of the banks and their investments. They made damned sure of that. If the banks are not lending it's because they see better opportunities elsewhere.

 

[occupied]

Biden Harris ran on restriction domestic oil exploration and production. That put America dependent and vulnerable to foreign oil. You refuse to learn fundamental economics. Pick up a book and turn to the page on egregious government regulation.

Save it for the idiots who do not know any better.

 

[Resnic]

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

All anyone needs is a decent memory to know Putin has nothing to do with gas prices. All you need is the ability to recall a year in the past.

When Biden was elected he said he would declare war on oil and fossil fuels.

He soon as he took office he tried to undo all of Trump's decisions concerning America's fuel.

He hampered domestic oil production and sold record amounts of our oil reserves to China.

Last year has prices were already on the rise and a lot of people were warning us about gas prices in the coming year. Way before Putin ever marched into the Ukraine.

 

[bodecea]

Wouldn't matter anyway because Russia is still exporting 100% of its oil to the US and everywhere else. The market isn't impacted by Russian oil being "cut off".

"Russia is still exporting 100% of its oil to the US"......................

 

[LeftofLeft]

Save it for the idiots who do not know any better.

This is an economic debate and you continue to expose yourself as under qualified.

 

[Posit]

Great News!!! Biden remains convinced the citizens of the U.S. are a collective of dumazzes!

"“Home grown biofuels have a role to play right now … as we work to get prices under control and reduce the costs for families,” Biden said in Menlo, Iowa. “Your family budget, your ability to fill up your tank, none of it should hinge on whether a dictator declares war and commits genocide half a world away,” he added (The Hill).""

Biden continues to believe "We the people..." didn't see the 60% of the increased gas prices from his inauguration until Russia attacked Ukraine. Most of the increase occurred before the invasion, and results completely from Biden's attack on fossil fuels.

Is this a case of the politician repeating the lie often enough and the people will believe it?

 

[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

OPEC said it is impossible to replace Russia's crude oil.

 

[surada]

First of all no one believes you as you don't provide ANY proof to your statements!
Do substantiation before you write falsehoods!

And you evidently don't understand that 24% of the USA oil/gas comes from "FEDERAL LANDS"!
Biden banned in just 7 days from taking office, the exploration on land that produces 24% of our nation's oil/gas!

https://crsreports.congress.gov/product/pdf/R/R42432

And don't mention the 9,000 leases as the oil experts have debunked that number!

Biden claimed 9,000 oil drilling permits are unused. That’s true, but all work can’t begin ‘right now’​

There are more than 9,000 permits to drill oil on federal lands, as President Biden claimed. But a variety of factors are keeping that work from getting started.

This claim needs context. While more than 9,000 approved permits to drill on federal lands aren’t producing oil and gas, that doesn’t mean companies could start drilling right now in all of those locations. Regulatory processes, court decisions and oil prices all play a role in when drilling can actually begin. According to the IPAA, some of these leases are going through a “complex regulatory process or are held up in litigation.” Western Energy Alliance, which represents hundreds of companies involved in the exploration and production of oil and natural gas, says on its website that it is defending more than 2,200 leases in court, most of which cannot be developed while the cases are ongoing.

Biden claimed 9,000 oil drilling permits are unused. That’s true, but all work can’t begin ‘right now’

There are more than 9,000 permits to drill oil on federal lands, as President Biden claimed. But a variety of factors are keeping that work from getting started.

www.verifythis.com

FACTS!!!

Even when Dubya was president they had 4000 leases on Federal land.

 

[surada]

Great News!!! Biden remains convinced the citizens of the U.S. are a collective of dumazzes!

"“Home grown biofuels have a role to play right now … as we work to get prices under control and reduce the costs for families,” Biden said in Menlo, Iowa. “Your family budget, your ability to fill up your tank, none of it should hinge on whether a dictator declares war and commits genocide half a world away,” he added (The Hill).""

Biden continues to believe "We the people..." didn't see the 60% of the increased gas prices from his inauguration until Russia attacked Ukraine. Most of the increase occurred before the invasion, and results completely from Biden's attack on fossil fuels.

Is this a case of the politician repeating the lie often enough and the people will believe it?

OPEC Tells EU It Can't Replace Russian Oil Supply Loss

OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply…

www.oedigital.com

 

[CowboyTed]

“I’m doing everything within my power by executive orders to bring down the price and address the Putin price hike,” the president said."

Great. Putin is responsible for about 40% of the price increase-- the smallest part of the increases in the past 12 months.. What are you doing to bring down the price and address the Biden price hike?

Yes he is... Look at the fucking market...

It is calming down again...

The other issue is Oil Companies(US and foreign) cutting supply.. Trump told them to do it in April 2020 and by Feb 2021 they did that... Biden is trying to get them to increase it again but he has little leverage, US laws allow US Oil Companies to do what they like and now they are making money...

Exxon recod profits - Google Search

 

[Harpy Eagle]

7%. That's it. Tied with Saudi Arabia.
Yet Biden blames high gas prices on Russia.

So you do not think removing 7% of the world's supply of oil will impact the prices?

Really?

If 7% of all housing was suddenly gone, would that impact the price for a house?

If 7% of all new cars were suddenly gone, would that impact the price for cars?

If you lost 7% of your income, would you notice?

 

[surada]

OPEC Tells EU It Can't Replace Russian Oil Supply Loss

OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply…

www.oedigital.com

 

[CowboyTed]

Even when Dubya was president they had 4000 leases on Federal land.

Seriously why would we destroy the US land and water supply to expediate the extraction of Oil which can be sold worldwide and have little effect on Global oil prices..

Under Trump US Production fell from 12,900,000 to 9,700,000 when Biden took office...

In 9 months under Biden the Oil Supply has gone backup to 11,769, 1,100 shy of the previous peak... That is good going for all concerned but it should have been encouraged far earlier... Oil will get back to where it was but that is time and oil companies to invest to get it there... At todays prices they want to produce more..

Federal leases on land make a very small impact on Oil prices... OPEC takes US Oil production into there global supply model, so if US produce little more, they produce a little less..

Look here...

How much extra oil could OPEC+ pump to cool prices?

Saudi Arabia and the United Arab Emirates are among the few oil producers globally with spare capacity they could draw on quickly to increase output, help offset supply losses from Russia or elsewhere and ease prices, analysts say.

www.reuters.com

Saudis tomorrow morning could produce 1,200,000 more barrels a day, UAE 600,00. They are deliberately withholding it from the market... US was producing 1,100,000 more a day 2 years ago... There is no regulation that Biden brought in that stopped that... Lads, welcome to a cartel...