Is Biden at fault for the worse inflation rate in 40 years?

[Faun]

No, because that is not a lie.

People in business don't focus just on today, prices largely reflect what the perceived future will look like.

We can't produce and ship either enough crude or refined products to Europe to help them without creating price hikes here.

More bullshit. It takes no less than about 7 years for a new lease to start producing oil. Prices today are not based on 7 years from now.

And again, as has been shown repeatedly, oil leases are up under Biden, as is production. So your bullshit doesn't float.

 

[pknopp]

Actually, the price is set by the companies that buy it.

The markets set the price of oil which leads everything else.

But you know this.

 

[Big Bend Texas]

The markets set the price of oil which leads everything else.

But you know this.

And ultimately it is the buyers who set the price. If the price is higher than they are willing to pay they don't buy and it comes down.

The reverse is also true. If they want it bad enough they will get into a bidding war with other buyers.

 

[pknopp]

And ultimately it is the buyers who set the price. If the price is higher than they are willing to pay they don't buy and it comes down.

Yeah, all they have to do is not go to work or anything else and maybe the price comes down. As already pointed out, production is keeping up so with the fact that price does not reflect actual fundementals, maybe not.

The reverse is also true. If they want it bad enough they will get into a bidding war with other buyers.

Those bidding are not actually buying oil.

But you know this already

 

[Big Bend Texas]

Yeah, all they have to do is not go to work or anything else and maybe the price comes down. As already pointed out, production is keeping up so with the fact that price does not reflect actual fundementals, maybe not.



Those bidding are not actually buying oil.

But you know this already

Production isn't keeping up. We're not producing enough oil to both meet all of our needs and the increased demand from Europe who we pushed to cut their dependency on Russian oil and refined products.

That has changed the dynamic of the entire industry.

 

[struth]

More bullshit. It takes no less than about 7 years for a new lease to start producing oil. Prices today are not based on 7 years from now.

And again, as has been shown repeatedly, oil leases are up under Biden, as is production. So your bullshit doesn't float.

yep ou production is up…oil companies are producing oil.

 

[Big Bend Texas]

Yeah, all they have to do is not go to work or anything else and maybe the price comes down. As already pointed out, production is keeping up so with the fact that price does not reflect actual fundementals, maybe not.



Those bidding are not actually buying oil.

But you know this already

The refiners actually bid on both long and short term contracts as well as for immediate delivery.

 

[Big Bend Texas]

More bullshit. It takes no less than about 7 years for a new lease to start producing oil. Prices today are not based on 7 years from now.

And again, as has been shown repeatedly, oil leases are up under Biden, as is production. So your bullshit doesn't float.

I've already stated it can take years from leasing to production. Keep up.

 

[pknopp]

Production isn't keeping up. We're not producing enough oil to both meet all of our needs and the increased demand from Europe who we pushed to cut their dependency on Russian oil and refined products.

That has changed the dynamic of the entire industry.

We also on top of everything else need to start minding our own business.

 

[pknopp]

The refiners actually bid on both long and short term contracts as well as for immediate delivery.

You can get .99 cent slushies also.

 

[Big Bend Texas]

We also on top of everything else need to start minding our own business.

What happens in Europe affects us. That has been true now for over a century. In fact, what was happening in Europe is why this country was founded.

 

[Faun]

I've already stated it can take years from leasing to production. Keep up.

The part which eludes you is your claim that prices now are affected by drilling almost a decade later.

 

[Big Bend Texas]

The part which eludes you is your claim that prices now are affected by drilling almost a decade later.

It doesn't take a decade once you have the permits in hand and the prohibition affected projects that were already permitted.

 

[22lcidw]

Stolen elections have consequences.

 

[Faun]

It doesn't take a decade once you have the permits in hand and the prohibition affected projects that were already permitted.

It takes about 7-10 years from when a lease is obtained. And we're talking about leases since Biden's been in office.

 

[Nostra]

Bidenflation: 12% on food = a Biden tax on anyone who eats.

 

[Concerned American]

Bidenflation: 12% on food = a Biden tax on anyone who eats.

Couldn't be--Biden assured his followers that taxes wouldn't increase on anyone making 400K or less. Bwahahahahaha.

 

[Nostra]

Couldn't be--Biden assured his followers that taxes wouldn't increase on anyone making 400K or less. Bwahahahahaha.

Bidenflation: Gas prices have doubled due to his policies.

He must think nobody making under $400K uses gas or deisel.

 

[Big Bend Texas]

It takes about 7-10 years from when a lease is obtained. And we're talking about leases since Biden's been in office.

I'm talking about both, you don't get to limit the conversation.

 

[B. Kidd]

I'm talking about both, you don't get to limit the conversation.

A lease is one thing and a permit is another. Unfortunately they are connected and Faun doesn't know this!!