Biden punishes oil prices by 25% with his will alone

[surada]

Democrats say they want to drive the oil companies out of business. Guess what that does to the price of oil companies doing business in the US?

Democrats rather beg and enrich dictators then boost oil production. If it wasn't for Democrats, America would still be a net exporter of oil.

US shale oil production isn't foreign oil. We imported 7-8 million bpd and exported 3 million bpd. Deal with the facts.

 

[hadit]

Gas prices shoot UP like a rocket and fall like a feather

Mere words cause big spikes...but the price doesn't drop until until all the suppliers get cheaper product.

The whole industry stinks to high heaven

Then you're going to have to nationalize the entire thing and cut the speculators out of it.

 

[surada]

Then you're going to have to nationalize the entire thing and cut the speculators out of it.

Lol so now you want Socialism.

 

[hadit]

And high unemployment. I prefer low unemployment.

Which means then that TRUMP! should get credit for reducing Obama's unemployment.

 

[hadit]

Lol so now you want Socialism.

Nope, I'm saying that if you want prices to not shoot up and down, you're going to have to control them artificially (which always backfires). Nixon tried wage and price controls that led to the Carter disaster years.

 

[surada]

Nope, I'm saying that if you want prices to not shoot up and down, you're going to have to control them artificially (which always backfires). Nixon tried wage and price controls that led to the Carter disaster years.

The "Carter" disaster was brought to you by Israel.

 

[Papageorgio]

Dropping again today. Biden must have woken up early and got his policies really in place.

Oil drops again, now more than 27% below recent high

Oil prices came under pressure as a number of factors weighed on the market, including the Russia-Ukraine war and a potential slowdown in demand from China.

www.cnbc.com

Oil registered heavy losses Tuesday, building on Monday’s decline, as myriad factors weighed on sentiment, including talks between Russia and Ukraine, a potential slowdown in Chinese demand and unwinding of trades ahead of the Federal Reserve’s expected rate hike on Wednesday.

Both West Texas Intermediate crude, the U.S. oil benchmark, and global benchmark Brent crude were below $100 a barrel during Tuesday morning trading on Wall Street, a far cry from the more than $130 a barrel just over a week ago.


WTI dropped 7.6% to trade at $95.26 per barrel, after declining 5.78% on Monday. Brent traded 6.9% lower at $99.54 a barrel, accelerating Monday’s 5.12% decline.

“Growth concerns from the Ukraine-Russia stagflation wave, and FOMC hike this week, and hopes that progress will be made in Ukraine-Russia negotiations” are weighing on prices, said Jeffrey Halley, senior market analyst at Oanda. “It seems like the old adage that the best cure for high prices, is high prices, is as strong as ever,” he added, noting that he believes the top is in for oil prices.

So why did Biden make it go up in the first place? Was he pissed at our citizens here? Did he want to take the record for the highest prices of all time away from Bush?

 

[surada]

So why did Biden make it go up in the first place? Was he pissed at our citizens here? Did he want to take the record for the highest prices of all time away from Bush?

Lolol Biden didn't make prices go up. You haven't learned a damned thing.

 

[Papageorgio]

Yep. Oil is going down. Some analysts are saying it will go back to $40 a barrel. I truly hope the bottom is $60 a barrel.

I'm hoping for $40 a barrel, that is much more manageable for Americans struggling with supply chain shortages, inflation and housing costs.

 

[surada]

Lesh the oil embargo was a direct result of the Yom kippur war. The Israelis we're losing when Nixon bailed them out and quadrupled their foreign aid.

 

[surada]

I'm hoping for $40 a barrel, that is much more manageable for Americans struggling with supply chain shortages, inflation and housing costs.

$40 is not good for domestic oil production. It kills investment. Oil is still a bargain.

 

[Papageorgio]

Lolol Biden didn't make prices go up. You haven't learned a damned thing.

Presidents have little to no effect on gas prices, never have but during the Bush administration Pelosi blamed Bush, was Pelosi being a partisan prick or did she really believe that Bush caused the spike?

Today, City Gator is claiming, tongue in cheek, that Biden is bringing down gas prices, so tongue in cheek, I am asking why he allowed them to go so high. Get it or does humor only flow one way for you? You partisan as dense.

You want to blast someone for the thread, blast the OP. Sorry I hurt your feelings Cletus.

 

[Papageorgio]

$40 is not good for domestic oil production. It kills investment. Oil is still a bargain.

LOL!!!!! I was going to say free but I knew that would make your poor little sensitive head explode! You are so predictable Cletus.

 

[surada]

Presidents have little to no effect on gas prices, never have but during the Bush administration Pelosi blamed Bush, was Pelosi being a partisan prick or did she really believe that Bush caused the spike?

Today, City Gator is claiming, tongue in cheek, that Biden is bringing down gas prices, so tongue in cheek, I am asking why he allowed them to go so high. Get it or does humor only flow one way for you? You partisan as dense.

You want to blast someone for the thread, blast the OP. Sorry I hurt your feelings Cletus.

Come on. Most Americans know Jack shit about the oil business. Look at the posters on here. They are not otherwise stupid.

 

[mudwhistle]

This week Biden’s policies, actions, but more importantly his rhetoric and sheer will have driven prices of oil down by more than 25%. These unprecedented acts of will, which have been criticized by conservatives who have blamed him for prices on the way up, are ultimately responsible for all oil pricing. It’s about time he unleashed the oil price Kraken!

God bless America and thank you Biden.
View attachment 615730

Oil prices plunge below $100 a barrel and loses 'quarter of its value'

Oil prices dipped more than 5 percent on Monday to the lowest they have been in nearly two weeks amid peace talks between Russian and Ukrainian officials and a COVID outbreak in China.

www.dailymail.co.uk

Lack of action or episodes of absolute incompetence can do the same thing as EOs.......but Biden started this from day-one.
Everything that he has done, or hasn't done, since taking office, only made what he did on day-one worse.

 

[Lesh]

Come on. Most Americans know Jack shit about the oil business. Look at the posters on here. They are not otherwise stupid.

You seem to know a lot about the oil business

Just curious. I have read that the really lucrative part of the oil business are in products other than gasoline etc. I was told that if there was NO market for fuel that the oil business would have to PAY to get rid of what is essentially waste product.

Can you speak to the accuracy of that?

 

[whitehall]

"Punishes"? Interesting phrase to describe high energy prices. It's obvious who is being punished and the doddering old fool ain't got a clue. How long can the true believers support this guy?

 

[Wild Bill Kelsoe]

Lolol Biden didn't make prices go up. You haven't learned a damned thing.

Yes he did, with his policies. Live with it.

 

[surada]

Yes he did, with his policies. Live with it.

Oil companies world wide cut production because of COVID. That doesn't come back to speed because you have a tantrum or are inconvenienced.

 

[citygator]

I thought the new Covid spike in China was the reason. Are you saying Biden is responsible for Covid? Honestly I wouldn't be surprised.

Other factors don’t impact oil prices. ONLY the President. Where have you been? Check all over USMB for “proof”.