No shit Sherlock.
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Biden Got Us Into This Oil Price Mess
- Thread starter Weatherman2020
- Start date
Of course, they started rising before he became president, speculators expected him to cause prices to rise, so they took actions that made them go up even more.Nice fiction. Except Biden wasn't shutting thd industry down. And prices started rising before he became president. Too bad, better luck next time.
Oh, look, yet another lame attempt to make it about me, complete with assumptions not on the table. Too bad.he dropped 300M barrels from the SPR and has the US pumping at record levels, the highest ever and we are the top producer in the world. And for those reasons oil is at a low $75
The reality is Putin's war disrupted the global energy markets and oil and nat gas surged, go look at the chart... Oil went to $130 in a few weeks
On top of that MBS gave Kushner a $2B bribe, and then he cut Saudi production substantially to sabotage the US economy and hurt Biden and help trump.
Despite all that Biden has the us pumping record oil, and oil is at only $75 now. You are desperate to attack Biden because Trump was a failed president..
Enjoy $75 oil loser, obviously you hate it
/----/ Ask a near-by grownup to explain the Futures Market to you.Nice fiction. Except Biden wasn't shutting thd industry down. And prices started rising before he became president. Too bad, better luck next time.
How Do Oil Futures Contracts Work?
Oil futures contracts are simple in theory. They continue the time-honored practice of certain participants in the market selling risk to others who gladly buy it in the hopes of making money. To wit, buyers and sellers establish a price that oil (or soybeans, or gold) will trade at not today, but on some coming date. While no one knows what price oil will be trading at nine months from now, players in the futures market believe they can.For example, suppose that Commodity X, which currently sells at $30, will be available for $35 in a contract dated to come due next January. A speculator who thinks that the price will, in actuality, shoot past that, say to $45, by said time can thus purchase the $35 contract. If their prediction is correct, they can then buy X at $35 and immediately sell it for a $10 profit. But should X end up falling short of $35, their contract is worthless. -- Investopedia
Speculators have always distorted markets, by doing precisely that. Their actions help a market to move in the direction they're hoping it will move, much like buying a lot of shares in a company in the hope the price will rise actually drives up the price./----/ Ask a near-by grownup to explain the Futures Market to you.
How Do Oil Futures Contracts Work?
Oil futures contracts are simple in theory. They continue the time-honored practice of certain participants in the market selling risk to others who gladly buy it in the hopes of making money. To wit, buyers and sellers establish a price that oil (or soybeans, or gold) will trade at not today, but on some coming date. While no one knows what price oil will be trading at nine months from now, players in the futures market believe they can.
For example, suppose that Commodity X, which currently sells at $30, will be available for $35 in a contract dated to come due next January. A speculator who thinks that the price will, in actuality, shoot past that, say to $45, by said time can thus purchase the $35 contract. If their prediction is correct, they can then buy X at $35 and immediately sell it for a $10 profit. But should X end up falling short of $35, their contract is worthless. -- Investopedia
The Duke
Diamond Member
- Jul 30, 2022
- 24,211
- 29,388
- 2,288
- Banned
- #326
Yet another loon who doesn't understand it takes years to go from obtaining a lease to producing the first drop of oil. However many leases the Biden administration issued, it did not impact the high gas prices.
LOL
You fucking moron, Biden was inaugurated on 1/20 (red arrow), not 1/6. Prices had already begun to rise. In fact, that began rising in early December/2020.
View attachment 855769
What obstacles?
Biden issued this EO on his 1st day: (1\20\21)
Obstacles.
Shitbird.
The Banker
Diamond Member
- Banned
- #327
huh?Oh, look, yet another lame attempt to make it about me, complete with assumptions not on the table. Too bad.
The post was about Biden and all the things he did to lower oil prices.
You are drunk and delusional and just post nonsense, because you have no rebuttal at all.
Biden's actions and policy have lowered oil prices, even after Trump's best bud Putin and MBS tried to increase oil prices
/---/ "Biden and all the things he did to lower oil prices."huh?
The post was about Biden and all the things he did to lower oil prices.
You are drunk and delusional and just post nonsense, because you have no rebuttal at all.
Biden's actions and policy have lowered oil prices, even after Trump's best bud Putin and MBS tried to increase oil prices
That is a flat-out lie and you know it. BTW, as you well know, Trump asked for production cuts TO SAVE AMERICAN OIL WORKERS JOBS. Something Dementia Joe doesn't care about.
The Duke
Diamond Member
- Jul 30, 2022
- 24,211
- 29,388
- 2,288
- Banned
- #329
He killed thousands and thousands of oil jobs on his 1st day in office./---/ "Biden and all the things he did to lower oil prices."
That is a flat-out lie and you know it. BTW, as you well know, Trump asked for production cuts TO SAVE AMERICAN OIL WORKERS JOBS. Something Dementia Joe doesn't care about.
- Nov 14, 2011
- 120,869
- 65,751
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He killed thousands and thousands of oil jobs on his 1st day in office.
He did no such thing, Mary.
Last edited:
- Apr 1, 2011
- 169,997
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Of course he did.He did no such thing, Mary.
- Nov 14, 2011
- 120,869
- 65,751
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Of course he did.
Post it...
/——/ Yes he did:He did no such thing, Mary.: icon_rolleyes:
- Nov 14, 2011
- 120,869
- 65,751
- 2,635
/——/ I know he did. https://www.energy.gov/sites/defaul...cting-public-health-environment-restoring.pdfLOL
Suuuure he did, uh-huh.
the USofA has had a relationship with the house of Sauds since FDR
That was the start of the oilocracy , which every potus since has sucked up to
One can look up general Butler , prior to that in Asia
For anyone here to insist the current resident of the offal office (that's no typo) i somehow solely responsible is beyond blind ingnorant partisan politics
you 'effin tools!
~S~
That was the start of the oilocracy , which every potus since has sucked up to
One can look up general Butler , prior to that in Asia
For anyone here to insist the current resident of the offal office (that's no typo) i somehow solely responsible is beyond blind ingnorant partisan politics
you 'effin tools!
~S~
- Nov 14, 2011
- 120,869
- 65,751
- 2,635
Except that didn’t cut any jobs on his first day.
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