- Jul 21, 2009
- Reaction score
- Tested Negative For COVID-19
Crude Oil prices don't directly transfer over to gasoline prices.....especially when your refining process changes.Sorry, mudwhistle, you misunderstand. Of course it proves your point, that is exactly what I was doing. I was replying to our resident oil Einstein, Surada. That moron was saying that the US didn't frack unless the price was $100 a bbl. The graph showed that the bbl price never went over $75 during his tenure. I was illustrating the point that gas prices went down when Trump was elected. BTW, I saw diesel prices close to $5 a gallon in CA under Obama--I know that wasn't the average.This graph doesn't prove your point....matter of fact...it proves mine.You are full of shit. During the Trump admin, the price per bbl never topped $75. Indeed it averaged between 40-50 dollars. Fracking was being done extensively in the US. Fuel prices in the US were lower 2016-2020 than during any other time in the last 20 years. WTI Crude Oil Prices - 10 Year Daily ChartView attachment 463729The reason for the increase in oil production was NOT fracking which has been in common use for 70 years.. Most US wells produce less than 50 barrels a day so fracking isn't something they can afford.Oil production had nothing to do with Obama.Oh....so Trump had no effect on prices......it's just that shit happens....nevermind the fact that Trump had gas prices down to where Bush had them when Osama took over. Then they went up....but OSama was never blamed for it.However, this year President Trump did indeed impact gasoline prices.
Gasoline prices fell sharply because oil prices collapsed. President Trump influenced that by conning Saudi Arabia into increasing production and then letting Iran continue to export oil.
I would also point out that gasoline prices at this time of year are usually low, because seasonal demand is low (and it's cheaper to produce winter gasoline).
For comparison, below is the national average retail gasoline price during the first week of January over the past 12 years.
They started fracking.....and Obama basically did everything he could to stop it from happening....but he couldn't grab enough land and make it a federal preserve.
He still found a way of raising gasoline prices to close to $4/gal.
So Biden destroys our energy industry turning it all over to Russia, Ukraine, and China....and screws us in the fucking ass.
The reason production took off in the US is because the ppb was hitting $100 so everybody borrowed money and started drilling.
The difference is under Trump...we started being able to use our own oil instead of buying it from our enemies.
We had to send what we had to other countries to be refined because we haven't built a new refinery since the 70s. Then we had to buy it back from them for a jacked up price. We bought 30% of our gas from foreign refineries. But we produced more to the point where we were becoming independent from foreign oil. Biden ended that in a week. So the price started going up.