The real lies is using politics as a reason for gas prices when it is basically a supply and demand product. Why does the demand high in the Summer and prices go up and in the winter when demand is low and the price goes down?
The price for barrel of oils is probably the biggest factor. yet what did Biden due to effect cruel oil prices on the international and state level to effect this rise in prices.
Demand and the seasons plays a role , Damn if only the president can control the seasons.
$71.65 for WTI made in America
40.10 at the same time last year.
What caused the price to double
foreign affairs and wars can effect prices. . Yet what does foreign affairs have to do with WTI
International trade. Well when Trump sanction Iran the prices of oil started to go up
Trade war with China drove the prices down
So what did Biden due to effect trade?
Price manipulation, well Russian and OPEC can effect the price at will . So can companies and speculation on the market just like they can do for any commodity. Free market got to love it .
Advances in Technology well what goes down must go up. Well as the US became the top producer and the price when down then began to climb up. Yet what changed. Greed and maintaining that life style.
Distribution, oil refinery capacities, and weather all play more of a role than Biden could even hope to do.
Yeah, when President Trump was in office, we had a surplus of supply so much we were a net exporter, then Joe the killer of 10s of thousands of good paying union jobs come in, nixxes the Keystone pipeline and turns US dependent on OPEC again.
Sorry that had nothing to do with Trump, it was the technology of getting the oil out of the ground that increased production. Trump didn't do anything. Supply has been rising since 2010 well before Trump came along.
The Keystone pipeline was initially to be done in 3 phases. Which had been completed by 2014. The wanted to do a 4 phase and that is what trump approved. Biden didn't approve it.
Yet production has increased in the past 6 years without Phase 4.
Oil production is still increasing in the US. OPEC lead by SA has more oil reserves and will always be a player. They are a major player in establishing prices.
US can pump as much oil as they want but in the long run they do not have the proven reserves as other players. It will continue under Biden.
Nebraska land owners refused easements on there land for Phase 4 to continue and Obama had nixed that idea also for a Phase 4 was approved by Trump but never got off the ground during his 4 years in office. Nebraska land owner didn't play ball. It caused the project to be more costly.
Trump then revoked his prior permit and issued a new one in 2019. Finally in early 2020 ( 2 years later) they were about to start
A few months later the Supreme Court stopped it in its tracks
Then the rest is history Trump lost and the Biden revoked the permit.
So ultimately Trump failed to get it going
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U.S. Field Production of Crude Oil, Annual
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CHART DATA
| Series Name | Period | Frequency | Value | Units |
|---|
| U.S. Field Production of Crude Oil, Annual | 2020 | A | 11313 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2019 | A | 12248 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2018 | A | 10964 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2017 | A | 9371 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2016 | A | 8852 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2015 | A | 9446 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2014 | A | 8789 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2013 | A | 7494 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2012 | A | 6521 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2011 | A | 5667 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2010 | A | 5484 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2009 | A | 5357 | Thousand Barrels per Day |
| U.S. Field Production of Crude Oil, Annual | 2008 | A | 5000 | Thousand Barrels per Day |