Gas prices are skyrocketing because of Biden

[AntonToo]

Well one major contribution to gas prices is supply. And if you are one of the oil companies depending on oil exploration, if access to what amounts to 25% of the nation's oil land has been terminated, what affect would that have on producers?

Fuck off myth spreader we've been though this bs already with you and you have never been able to establish any sort of causality between exploration permits and near term gasoline prices.

American crude oil supply has expanded under Biden and is projected to reach record levels again in 2023.

 

[healthmyths]

Fuck off myth spreader we've been though this bs already with you and you have never been able to establish any sort of causality between exploration permits and near term gasoline prices.

American crude oil supply has expanded under Biden and is projected to reach record levels again in 2023.

So explain to me then why Biden begged OPEC to increase production?

OPEC Says To Biden: If You Want More Oil, Pump It Yourself​

OPEC Says To Biden: If You Want More Oil, Pump It Yourself

Biden is walking a difficult tightrope. While he wants to commit to fighting climate change, he risks placing himself in an untenable economic and geopolitical position.

www.forbes.com

President Biden’s overtures to OPEC + sound disingenuous against the backdrop of a Democratic Party energy doctrine, announced in January 2021, that seeks to limit production of hydrocarbons in the US and limit GHG emissions globally.
This year the Biden administration announced a moratorium on drilling permit issuances on federal lands and waters, and effectively killed the KEYSTONE XL pipeline from Canada to the U.S. in the name of environmental and Native American tribal concerns. Biden wants to appeal to his Democratic voter base by reducing the climate costs of domestic fuel production, while also pressuring other nations to increase their output to lower domestic oil prices.

 

[healthmyths]

Biden’s energy idiocy: Kneecap US oil but beg OPEC to pump more​

Biden’s energy idiocy: Kneecap US oil but beg OPEC to pump more

President Joe Biden’s latest policy push has us doing not just a double take but a triple take: The man who’s put roadblock after roadblock in the way of North American energy companies.

nypost.com

President Joe Biden’s latest policy push has us doing not just a double take but a triple take: The man who’s put roadblock after roadblock in the way of North American energy companies in pursuit of his vow to decarbonize the US economy is . . . begging OPEC to boost fossil-fuel production.
That’s news to us. On his very first day in office, Biden killed the Keystone XL pipeline, which would have brought 830,000 barrels of Canadian oil a day down south — and thousands of good-paying jobs with it. In March, he put a moratorium on oil leasing on federal land, which a judge later found to be illegal. Later, he canceled Trump-era oil leases in Alaska.

 

[healthmyths]

Graves urges Biden to reverse stand on domestic oil production​

Graves urges Biden to reverse stand on domestic oil production

U.S. Congressman Garret Graves (South Louisiana) joined colleagues in raising strong concerns with the Biden Administration’s flawed policies to use foreign energy sources instead of domestic energy production to offset

www.thewestsidejournal.com

“
The United States has a robust supply of resources, infrastructure, and skilled labor, and we should work together to maintain our energy independence and increase our global competitiveness,” Graves said. “Under President Trump, America became a net exporter of energy for the first time in a generation, and for the first time in 35 years, the United States imported zero crude oil from Saudi Arabia.”

 

[AntonToo]

So explain to me then why Biden begged OPEC to increase production?

OPEC Says To Biden: If You Want More Oil, Pump It Yourself​

OPEC Says To Biden: If You Want More Oil, Pump It Yourself

Biden is walking a difficult tightrope. While he wants to commit to fighting climate change, he risks placing himself in an untenable economic and geopolitical position.

www.forbes.com

President Biden’s overtures to OPEC + sound disingenuous against the backdrop of a Democratic Party energy doctrine, announced in January 2021, that seeks to limit production of hydrocarbons in the US and limit GHG emissions globally.
This year the Biden administration announced a moratorium on drilling permit issuances on federal lands and waters, and effectively killed the KEYSTONE XL pipeline from Canada to the U.S. in the name of environmental and Native American tribal concerns. Biden wants to appeal to his Democratic voter base by reducing the climate costs of domestic fuel production, while also pressuring other nations to increase their output to lower domestic oil prices.

Oil is sold on global markets and OPEC production effects our prices, duh.

 

[Harpy Eagle]

So explain to me then why Biden begged OPEC to increase production?

OPEC Says To Biden: If You Want More Oil, Pump It Yourself​

Because the last guy begged/threatened them into cutting production, which they did.

 

[healthmyths]

Because the last guy begged/threatened them into cutting production, which they did.

YOU ARE 100% correct!
And you think Trump was wrong? Wrong to threaten stop spending $81 billion a year for OPEC?
Wrong to encourage USA energy independence?
You prefer a president to spend 81 billion to encourage USA DEPENDENCY on OPEC?
So Trump threatens to CUT military aid..
The United States military spends about $81 billion a year to protect oil supplies ... Trump suggested that OPEC members like Saudi Arabia, ...

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal

www.reuters.com

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources​

As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.
In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.

The threat to upend a 75-year strategic alliance, which has not been previously reported, was central to the U.S. pressure campaign that led to a landmark global deal to slash oil supply as demand collapsed in the coronavirus pandemic - scoring a diplomatic victory for the White House.

RIGHT!!!!

 

[Harpy Eagle]

YOU ARE 100% correct!
And you think Trump was wrong? Wrong to threaten stop spending $81 billion a year for OPEC?
Wrong to encourage USA energy independence?
You prefer a president to spend 81 billion to encourage USA DEPENDENCY on OPEC?
So Trump threatens to CUT military aid..
The United States military spends about $81 billion a year to protect oil supplies ... Trump suggested that OPEC members like Saudi Arabia, ...

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal

www.reuters.com

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources​

As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.
In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.

The threat to upend a 75-year strategic alliance, which has not been previously reported, was central to the U.S. pressure campaign that led to a landmark global deal to slash oil supply as demand collapsed in the coronavirus pandemic - scoring a diplomatic victory for the White House.

RIGHT!!!!

All that just to save the profits of our oil companies.

 

[healthmyths]

All that just to save the profits of our oil companies.

Absolutely! Geez why are you so anti-capitalism... oh wait YOU are a communist supporter.
Tell you what... go to China. Check with the Uyghurs and see what they enjoy!
Oh and this would mean you surrendering all your 401K, IRAs, etc. equities in addition.

 

[Harpy Eagle]

Absolutely! Geez why are you so anti-capitalism..

Yeah because nothing screams Capitalism like government interference

I forgot how much fun you were!

 

[healthmyths]

Those EVIL oil companies:

Between 1981 and 2008, the oil industry paid more than $388 billion to the federal and state governments in corporate income taxes, but they paid almost twice that amount, $683 billion, to foreign governments.

• Profits and income tax payments mirror the price of oil. In 1998 when the price was low, the industry paid just $733 million in federal and state income taxes. In 2006, with the real price of oil averaging over $63 per barrel, the industry paid a record $37 billion in corporate income taxes.

• Excise tax collections have grown steadily. Between 1981 and 2008, $1.1 trillion was collected in excise and sales taxes on petroleum products. In 1999 governments collected $59 billion, more than twice the industry’s net profits that year.

• In severance, property and so-called windfall profit taxes, the industry paid more than $472 billion between 1981 and 2008.

Indeed, since 1981, when the failed windfall profits tax was first enacted, federal, state, and local governments in the U.S. have collected more in taxes from the oil industry than the industry has earned in actual profits for its shareholders. For example, after adjusting for inflation, the combined net earnings (net of taxes and expenses) for the largest petroleum companies between 1981 and 2008 totaled $1.4 trillion.
By contrast, the total amount of taxes collected by U.S. governments from the oil companies topped $1.95 trillion, roughly 40 percent more than the industry’s combined profits.
Tax collections exceeded company profits in 23 of the 27 years surveyed.

Oil Industry Taxes: A Cash Cow For Government

Download Special Report No. 183 Special Report No. 183 Key Findings • Data from the Energy Information Administration show that governments in the U.S. and abroad are hugely dependent upon the direct and indirect taxA tax is a mandatory payment or charge collected by local, state, and national...

taxfoundation.org

See I deal with the realities not guesses, not subjective BIASED opinions...FACTS!

 

[Harpy Eagle]

Those EVIL oil companies:

Between 1981 and 2008, the oil industry paid more than $388 billion to the federal and state governments in corporate income taxes, but they paid almost twice that amount, $683 billion, to foreign governments.

• Profits and income tax payments mirror the price of oil. In 1998 when the price was low, the industry paid just $733 million in federal and state income taxes. In 2006, with the real price of oil averaging over $63 per barrel, the industry paid a record $37 billion in corporate income taxes.

• Excise tax collections have grown steadily. Between 1981 and 2008, $1.1 trillion was collected in excise and sales taxes on petroleum products. In 1999 governments collected $59 billion, more than twice the industry’s net profits that year.

• In severance, property and so-called windfall profit taxes, the industry paid more than $472 billion between 1981 and 2008.

Indeed, since 1981, when the failed windfall profits tax was first enacted, federal, state, and local governments in the U.S. have collected more in taxes from the oil industry than the industry has earned in actual profits for its shareholders. For example, after adjusting for inflation, the combined net earnings (net of taxes and expenses) for the largest petroleum companies between 1981 and 2008 totaled $1.4 trillion.
By contrast, the total amount of taxes collected by U.S. governments from the oil companies topped $1.95 trillion, roughly 40 percent more than the industry’s combined profits.
Tax collections exceeded company profits in 23 of the 27 years surveyed.

Oil Industry Taxes: A Cash Cow For Government

Download Special Report No. 183 Special Report No. 183 Key Findings • Data from the Energy Information Administration show that governments in the U.S. and abroad are hugely dependent upon the direct and indirect taxA tax is a mandatory payment or charge collected by local, state, and national...

taxfoundation.org

See I deal with the realities not guesses, not subjective BIASED opinions...FACTS!

We should all then be cheering the higher gas prices as they mean more profits for the oil companies.

Since I have cut my driving by about 75,000 miles a year, I will be the first to cheer for even higher gas prices so our oil companies can make even more profit!

 

[healthmyths]

We should all then be cheering the higher gas prices as they mean more profits for the oil companies.

Since I have cut my driving by about 75,000 miles a year, I will be the first to cheer for even higher gas prices so our oil companies can make even more profit!

I don't understand your position. Are you NOW in favor of higher gas prices because that means more profits to the oil companies? You realize that oil companies like most corporations don't make decisions based on today's market?
FYI... these companies have planners who look towards profits a year, or more in the future. So when Biden shuts down exploration on land that provides 25% of oil/gas production, i.e. Federal lands, where do these planners go then for future oil exploration? HMMM... could it be on private lands which because THEY know Biden's stupid moratorium effectively raises THEIR prices? The planners tell the corporations, you'd better raise prices now to prepare for higher costs in the future. Hence this:
40% increase in price from 1/13/21 of $3.313 to today 1/13/22 of $2.375
Planners that counted on Federal lands that provided 25% can't use that land for exploration any more,... thanks to Biden!

 

[Harpy Eagle]

I don't understand your position.

My position is that you asked why the POTUS had to ask OPEC to produce more oil, and I told it was because the previous POTUS made OPEC cut production for the sake of our oil companies. This was a short sighted move as we now see as demand is far out pacing supply.

Are you NOW in favor of higher gas prices because that means more profits to the oil companies? You realize that oil companies like most corporations don't make decisions based on today's market?

I am neither for nor against, they are what they are. They are based upon the price of oil (or the future price of oil). The price of oil is based upon the old law of supply and demand. More demand and less supply makes prices go up. While the prices are up our oil companies (and OPEC) make more money as they are getting a higher return without any added expenses.

You made the discussion about the taxes these companies pay, thus I followed your logic.

 

[Concerned American]

So explain to me then why Biden begged OPEC to increase production?

OPEC Says To Biden: If You Want More Oil, Pump It Yourself​

OPEC Says To Biden: If You Want More Oil, Pump It Yourself

Biden is walking a difficult tightrope. While he wants to commit to fighting climate change, he risks placing himself in an untenable economic and geopolitical position.

www.forbes.com

President Biden’s overtures to OPEC + sound disingenuous against the backdrop of a Democratic Party energy doctrine, announced in January 2021, that seeks to limit production of hydrocarbons in the US and limit GHG emissions globally.
This year the Biden administration announced a moratorium on drilling permit issuances on federal lands and waters, and effectively killed the KEYSTONE XL pipeline from Canada to the U.S. in the name of environmental and Native American tribal concerns. Biden wants to appeal to his Democratic voter base by reducing the climate costs of domestic fuel production, while also pressuring other nations to increase their output to lower domestic oil prices.th

'

Because the last guy begged/threatened them into cutting production, which they did.

That must be why we enjoyed the lowest gas prices in twenty years during his admin. Biden is trying to blame his fuck ups on the unrest in Kazakhstan now--The 18th largest supplier. Look for more unjustified fuel shortages and price increases. Yeah, you got what you voted for. Are you enjoying the highest inflation in the US in forty years?

 

[Concerned American]

POTUS made OPEC cut production for the sake of our oil companies

And how, pray tell, did that keep oil prices low?

 

[Concerned American]

I am neither for nor against, they are what they are

Typical fence straddler reply. If you don't take a stand, "YOU CAN'T BLAME ME, I DIDN'T TAKE A SIDE."

 

[Harpy Eagle]

That must be why we enjoyed the lowest gas prices in twenty years during his admin.

It was those "lowest gas prices in twenty years" that drove Trump to threaten OPEC into cutting production. Those low prices are not good for our oil companies.

Biden is trying to blame his fuck ups on the unrest in Kazakhstan now--The 18th largest supplier. Look for more unjustified fuel shortages and price increases

Biden is an idiot. He is just like his predecessor and always blames someone else.

Yeah, you got what you voted for. Are you enjoying the highest inflation in the US in forty years?

I voted for Jo, not Joe.

My family is doing fine. Most of the things driving inflation are not really a concern for us. The 3 biggest drivers of inflation right now are energy, housing and used cars. I drive 75,000 miles a year less than I did 2 years ago, or about 80% less than I was. So, I am still spending less on gasoline than I was. Our housing is set and our vehicles are fairly new and we will not be trading them in any time soon.

Typical fence straddler reply. If you don't take a stand, "YOU CAN'T BLAME ME, I DIDN'T TAKE A SIDE."

It was a stupid question, thus I gave it the answer it rated.

 

[Concerned American]

My family is doing fine. Most of the things driving inflation are not really a concern for us. The 3 biggest drivers of inflation right now are energy, housing and used cars. I drive 75,000 miles a year less than I did 2 years ago, or about 80% less than I was. So, I am still spending less on gasoline than I was. Our housing is set and our vehicles are fairly new and we will not be trading them in any time soon.

And you can't see further than the end of your nose. Inflation driver IS energy, period. Energy goes up, EVERYTHING goes up. Used cars are up because of the shut down of the global economy and production of new cars. I really don't Give a good flying fuck if you sit in your basement 24/7, there is a big beautiful world out there that I still would like to visit. Good fence straddlers always say they are doing fine--until they're not. BTW, how did that fence straddling vote for Jo benefit you. Moron.

 

[Harpy Eagle]

And you can't see further than the end of your nose. Inflation driver IS energy, period. Energy goes up, EVERYTHING goes up. Used cars are up because of the shut down of the global economy and production of new cars. I really don't Give a good flying fuck if you sit in your basement 24/7, there is a big beautiful world out there that I still would like to visit. Good fence straddlers always say they are doing fine--until they're not. BTW, how did that fence straddling vote for Jo benefit you. Moron.

Where did you get the stupid idea I sit in my basement, I just no longer have a 70 mile round trip to get to work, now it is a 70 foot walk from the bed room to the room I made my office.

Voting for Jo was great. I did not have to go home and wash the stink of having voted for the duopoly off of me. And in my state, my vote for Jo had the exact same impact on the election as the 2.4 million people that voted for Trump