Gas prices: Biden's or Trump's

[Dragonlady]

Republicans haven’t said anything. I see Biden cancel the leases Ave the global markets react because the US is now more dependent on foreign oil. She me how that is not true. Do you have any comprehension how markets work?

The global markets around the world had no reaction to the cancellation of Lease sales.

https://www.washingtonpost.com/climate-environment/2022/05/11/gulf-of-mexico-leasing-canceled/

https://www.washingtonpost.com/climate-environment/2022/01/27/oil-gas-leasing-biden-climate/

Notice how Joe Biden issued more drilling licenses than Donald Trump, but that's not the reporting YOU'RE getting.

Notice how one of the lease sales (Alaska) was cancelled because they had no bidders and no interest from potential purchasers. He only sold two leases. Both of the leases Trump sold were cancelled by the courts because of environment concerns. Even his own sons urged him to maintain that "pristine hunting ground".

Notice how there are 8 million acres under lease to energy companies that are not being explored at present.

And from Yahoo Finance comes this little gem:

"However, the cancellations are not expected to impact current oil supply or prices, since it usually takes seven to 10 years for offshore leases to actually produce fuel."

Canceled lease sales raise new questions for offshore drilling

The cancellations of three offshore drilling lease sales this week has injected a degree of uncertainty into the future of offshore drilling. The canceled auctions mean there are no sales now scheduled and it’s unclear precisely when that will change. The Interior Department is working on a new...

finance.yahoo.com

 

[Papageorgio]

The President did not "cut supplies". He asked producers to use their existing leases to produce oil. He didn't slow production.

The President didn't "allow an invasion" either. Mr. Biden has no control over the actions of sovereign nations outside of your borders.

President Trump "flooded the economy with cash via borrowing" when he cut taxes for the wealthiest Americans by $19 billion, via borrowing, and that didn't cause gas prices to go us. Giving money to working people makes Republicans CRAZY, but giving money to billionaires is good for the economy.

Two weeks before Joe Biden was inaugurated 10 of thousands of working Americans were out of money, out of cash, and lining up for hours to get food hampers, while Jeff Bezos who famously pays no federal income taxes, and whose company, Amazon, pays no federal income taxes, prepared to launch himself into space on his personal rocket ship. Bezos lost the first billionaire in space race to Elon Musk, who launched in May. Musk moved to Texas to avoid paying state taxes.

How much money do these men need? Both of them used federal payroll protection money during the pandemic. Bezos tried to wring $9 billion infrastructure improvements out of the city/state of New York to improve public transit, subway lines, and surface route improvements including road widenings, increased electrical, water and sewage capacity, and vehicle access to accommodate two shift changes of 12,500 workers each, daily, 365 days of the year. The jobs created wouldn't pay enough to buy a house anywhere their jobs.

Got a link to the tens of thousands lining up for hours in January 2021, to get food hampers?

Don't have any use for Musk or Bezos.

 

[Dragonlady]

Inflation is not good, layoffs are coming, wages are now behind inflation. I don’t blame Presidents for the economy yet you blame Trump and Bush for bad economies so spare me your hypocrisy it wears thin.

I agree with you 100% that inflation is not good. As a pensioner on a fixed income, I am well aware of my grocery bill. My diet is determined by what the local stores have on special. While I don't own a car, I am recovering from knee surgery and relying on the kindness of car-owning family and friends while paying for their gas money. I went into hospital on the day gas hit $9 a gallon. It was $8.50 the day I came home. Grocery prices are outta sight. Rents have doubled. It's frightening.

Both Bush and Trump gave massive tax cuts to the wealthy, all financed by debt, and then went on drunken sailor spending sprees. The cash injection of deficit spending gave cover to the cash being diverted to the top, goosing the economy also on borrowed money.

Trump should have been RAISING taxes during the boom economy, to pay down the deficit in advance of the next recession/fiscal downturn. That's what every other western economy had been doing since the 2008 crash.

Got a link to the tens of thousands lining up for hours in January 2021, to get food hampers?

Don't have any use for Musk or Bezos.

My apologies, it was right after the election, not right before the Inauguration:

Thousands in Texas line up in cars to receive food before Thanksgiving

The North Texas Food Bank distributed 600,000 pounds of food, including 7,280 turkeys, during the event.

www.cbsnews.com

Bezos did save the Washington Post, for which I'm grateful, and he seems to be keeping his mitts off its editorial content, unlike Rupert Murdoch and the Wall Street Journal.

I'm from the "To those to whom much is given (tax cuts, freebies, no income tax), much is expected". Pay your fair share. Pay for your own damn infrastructure. Tax cuts/breaks for Billionaires, always end up costing poor people money. Every Republican economic crash has benefitted the wealthy, and impoverished low wage workers and the middle class.

It's wrong to bail out private corporations with public money, while refusing to give financial support to the American people who lose their jobs, their homes and their health insurance during the crash. Payroll protection plans only help those who are still working, and do nothing for those who have already lost their jobs, or whose employers have closed.

Privately owned companies should bear the risk or at least be required to repay public funds when the economy stabilizes. This notion of public losses during recessions and private profits during boom times, is the anti-thesis of the free market.

Part of the reason the Big 3 auto makers went broke was because the US government didn't impose energy efficient regulations on US designed and sold vehicles. The cars couldn't sold in Europe or even Canada, because they weren't compliant. American protectionism coddled these companies and kept them from being compliant with climate change protocols, limiting sales.

You don't want poor people to get Obama phones. How can you get a job without a phone? How can your kid's school contact you without a phone. You rail over Obama phones but you're perfectly content to give money to corporations who don't need it.

Republicans gin up outrage about free stuff for poor people, while gladhanding billions in "free stuff" to billionaires. Watching Bezos in his flying dick launching himself into space was a perfect image for an American billionaire.

 

[Nova78]

Every one likes lower gas prices. If you were honest you would admit that prices have always gone steadily up over the years. And that we have peaks & valleys based on different situations, like wars & virus. its the situation, Not on who is president. Not on what political party you favor.

Peaks and valleys?

 

[Nova78]

Presidents don't control the price of gasoline.

Stupid fuck, we were oil independent before diaper Biden came in.

 

[Dragonlady]

Peaks and valleys?

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

Price of Gas February 2016 - $1.87 a gallon under Obama. How come nobody gave Obama credit for this???

Price of gas April 2018 - $2.87 How come you guys didn't shit all over Donald Trump for raising gas prices by 50%??? There was no pandemic or other factors driving up the price of gas. Why did Trump get a pass?

 

[surada]

Stupid fuck, we were oil independent before diaper Biden came in.

Lol. Trump lied. We were energy and for about 15 minutes during the pandemic.

 

[LeftofLeft]

The global markets around the world had no reaction to the cancellation of Lease sales.

https://www.washingtonpost.com/climate-environment/2022/05/11/gulf-of-mexico-leasing-canceled/

https://www.washingtonpost.com/climate-environment/2022/01/27/oil-gas-leasing-biden-climate/

Notice how Joe Biden issued more drilling licenses than Donald Trump, but that's not the reporting YOU'RE getting.

Notice how one of the lease sales (Alaska) was cancelled because they had no bidders and no interest from potential purchasers. He only sold two leases. Both of the leases Trump sold were cancelled by the courts because of environment concerns. Even his own sons urged him to maintain that "pristine hunting ground".

Notice how there are 8 million acres under lease to energy companies that are not being explored at present.

And from Yahoo Finance comes this little gem:

"However, the cancellations are not expected to impact current oil supply or prices, since it usually takes seven to 10 years for offshore leases to actually produce fuel."

Canceled lease sales raise new questions for offshore drilling

The cancellations of three offshore drilling lease sales this week has injected a degree of uncertainty into the future of offshore drilling. The canceled auctions mean there are no sales now scheduled and it’s unclear precisely when that will change. The Interior Department is working on a new...

finance.yahoo.com

He put MORE restrictions and regulations on the oil companies. Do you have any clue what kind of risk that puts on an oil company to go and get more oil? You obviously are not tied to profit and loss.

 

[surada]

He put MORE restrictions and regulations on the oil companies. Do you have any clue what kind of risk that puts on an oil company to go and get more oil? You obviously are not tied to profit and loss.

Federal land has always had strict rules and regulations. Even back when Dubya was president the oil companies were sitting on 4000 oil leases on Federal land.

 

[LeftofLeft]

Federal land has always had strict rules and regulations. Even back when Dubya was president the oil companies were sitting on 4000 oil leases on Federal land.

So why would Biden feel compelled to push more regulations?

 

[surada]

So why would Biden feel compelled to push more regulations?

He didn't. You can't force oil companies to drill. Are you a socialist?

 

[LeftofLeft]

He didn't. You can't force oil companies to drill. Are you a socialist?

He did. Revisit his campaign about the oil companies. Check his executive orders . They were increased regulations.

 

[Faun]

But presidents who intentionally squeeze down energy supply are a direct cause of economic problems. Obama and Biden have both done exactly that.

You realize we're near all-time high production levels, don'tcha?

 

[LeftofLeft]

You realize we're near all-time high production levels, don'tcha?

Is the production keeping with demand? Have the oil companies been it with increased regulations or costs that introduce risk?