So explain to me then why Biden begged OPEC to increase production?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.
www.forbes.com
nypost.com
Oil is sold on global markets and OPEC production effects our prices, duh.So explain to me then why Biden begged OPEC to increase production?
OPEC Says To Biden: If You Want More Oil, Pump It Yourself
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.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.
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.
YOU ARE 100% correct!
www.reuters.com
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 GamalSpecial 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!!!!
Absolutely! Geez why are you so anti-capitalism... oh wait YOU are a communist supporter.
taxfoundation.org
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...
See I deal with the realities not guesses, not subjective BIASED opinions...FACTS!
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?
'So explain to me then why Biden begged OPEC to increase production?
OPEC Says To Biden: If You Want More Oil, Pump It Yourself
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.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.
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
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?
And how, pray tell, did that keep oil prices low?
Typical fence straddler reply. If you don't take a stand, "YOU CAN'T BLAME ME, I DIDN'T TAKE A SIDE."
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.
