Oil Price Plunging. Thanks Biden!

[g5000]

US drilling approvals increase despite Biden climate pledge

BILLINGS, Mont. (AP) — Approvals for companies to drill for oil and gas on U.S. public lands are on pace this year to reach their highest level since George W.

apnews.com

Approvals for companies to drill for oil and gas on U.S. public lands are on pace this year to reach their highest level since George W. Bush was president, underscoring President Joe Biden’s reluctance to more forcefully curb petroleum production in the face of industry and Republican resistance.

The Interior Department approved about 2,500 permits to drill on public and tribal lands in the first six months of the year, according to an Associated Press analysis of government data. That includes more than 2,100 drilling approvals since Biden took office January 20.


Biden has approved more drilling on public lands than even Trump did!

U.S. to hold historic oil and gas lease sale days after COP26​

​

The Biden administration today will offer leases to oil and gas companies on more than 80 million acres in the Gulf of Mexico — an area larger than New Mexico — days after a United Nations climate summit that aimed to phase out fossil fuel production worldwide.

• Lease Sale 257, which was originally planned by the Trump administration, will be the largest offshore oil and gas lease sale in U.S. history.

[snip]

“This administration went to Scotland and told the world that America’s climate leadership is back, and now it’s about to hand over 80 million acres of public waters in the Gulf of Mexico to fossil fuel companies,” House Natural Resources Committee Chairman Raúl Grijalva (D-Ariz.) said in a statement.

 

[colfax_m]

Yes.. US producers are wildly vulnerable to those price swings.. They always go overboard ..

Once bitten twice shy.

 

[g5000]

let me know when gas prices get back to pre-xiden numbers

Every time the price of oil skyrockets and then returns to "normal", there is a lag time before gasoline prices drop.

 

[surada]

Once bitten twice shy.

When the ppb goes high they run out and borrow money for rigs, exploration and drilling... to make as much money as possible as fast as possible.

 

[g5000]

Before we celebrate, let’s see how far the price of a gallon drops first…

I'll return to this topic from time to time to post the average price.

Here is where it stands as of today:

AAA Gas Prices

 

[Phillip]

I thought presidents couldn't affect oil and gas prices???


Hey, I'll take it.

Anytime a Democrat is in office the economy tanks to shit..And now you have one with dementia who cannot recall if he wiped his own ass that day..

 

[surada]

Anytime a Democrat is in office the economy tanks to shit..And now you have one with dementia who cannot recall if he wiped his own ass that day..

You sure have a short memory.

 

[Phillip]

You sure have a short memory.

No not really..My billfold is the one with the short memory...Phone Biden and have him crank out another fucking 2 trillion in social programs....Hell while your at have him open the entire country to Mexico and change the name to the United States of Mexico...Have a nice day.

 

[Jimmy_Chitwood]

WTI crude futures erased early gains to fall towards $66 a barrel on Friday, after rising as much as 2% to above $68 tracking a sentiment of risk-off that took hold in markets. Early, a more bullish oil market was sustained by OPEC+ remarks, saying that are ready to quickly adjust output plans if demand suffered from measures to contain the Omicron variant. In the previous session, OPEC+ surprised markets when it stuck to plans to add 400,000 bpd supply in January, seen by analysts as a move meant to appease Washington. US deputy energy secretary David Turk previously said President Biden’s administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially. Meanwhile, the producers have since calmed markets, saying they would meet again before their next scheduled meeting on Jan. 4, if needed, to review supply additions in light of virus-related developments. WTI crude is on track for its sixth weekly decline.​

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

Oil settles down $10/bbl in largest daily drop since April 2020


Go Joe Brandon!

Lok at the chart from your link:

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

What has Oil done since Joey Biden won?

 

[JusticeHammer]

WTI crude futures erased early gains to fall towards $66 a barrel on Friday, after rising as much as 2% to above $68 tracking a sentiment of risk-off that took hold in markets. Early, a more bullish oil market was sustained by OPEC+ remarks, saying that are ready to quickly adjust output plans if demand suffered from measures to contain the Omicron variant. In the previous session, OPEC+ surprised markets when it stuck to plans to add 400,000 bpd supply in January, seen by analysts as a move meant to appease Washington. US deputy energy secretary David Turk previously said President Biden’s administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially. Meanwhile, the producers have since calmed markets, saying they would meet again before their next scheduled meeting on Jan. 4, if needed, to review supply additions in light of virus-related developments. WTI crude is on track for its sixth weekly decline.​

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

Oil settles down $10/bbl in largest daily drop since April 2020


Go Joe Brandon!

So now presidents are responsible for gas prices as long as it looks good for xiden? Libtards are stupid.

 

[Wild Bill Kelsoe]

WTI crude futures erased early gains to fall towards $66 a barrel on Friday, after rising as much as 2% to above $68 tracking a sentiment of risk-off that took hold in markets. Early, a more bullish oil market was sustained by OPEC+ remarks, saying that are ready to quickly adjust output plans if demand suffered from measures to contain the Omicron variant. In the previous session, OPEC+ surprised markets when it stuck to plans to add 400,000 bpd supply in January, seen by analysts as a move meant to appease Washington. US deputy energy secretary David Turk previously said President Biden’s administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially. Meanwhile, the producers have since calmed markets, saying they would meet again before their next scheduled meeting on Jan. 4, if needed, to review supply additions in light of virus-related developments. WTI crude is on track for its sixth weekly decline.​

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

Oil settles down $10/bbl in largest daily drop since April 2020


Go Joe Brandon!

LOL...the only way Creepy Joe could influence oil prices was to fuck over the economy.

Let's Go Brandon.

 

[JusticeHammer]

Yes, that's true, and I have said so when the pseudocons were blaming Biden for the rise in gas prices.

But what's good for the goose is good for the gander. I know the pseudocons wont have the integrity to give credit to Biden when prices go down. So I am doing it for them.

You're an idiot.

 

[Hellbilly]

So now presidents are responsible for gas prices as long as it looks good for xiden?

Hey colonizer.
You morons have been blaming Biden for high gas prices for months.
Make up your fucking mind.

 

[Phillip]

So now presidents are responsible for gas prices as long as it looks good for xiden? Libtards are stupid.

I don't say they are so much responsible for them but they are..

More than 20 Republican-led states sue Biden for canceling the Keystone XL pipeline

It’s the latest event in the more than 10-year struggle over Keystone XL’s expansion.

www.vox.com

Dumbocrat is as Dumbocrat does:

https://www.cbc.ca/news/business/keystone-xl-pipeline-obama-1.3307440

 

[Phillip]

Lok at the chart from your link:

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

What has Oil done since Joey Biden won?

Went through the DAMN roof!

 

[initforme]

The dims and rethugs are clueless in how to run things. Fact.

 

[Phillip]

LOL...the only way Creepy Joe could influence oil prices was to fuck over the economy.

Let's Go Brandon.

He done that when got elected..

 

[g5000]

Lok at the chart from your link:

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

What has Oil done since Joey Biden won?

OPEC and Russia have been playing games with the price by not ramping up their production to match the post-pandemic surge in demand. They want the price high because their domestic economies are totally dependent on the price of oil. Russia needs to keep the price above $60 to avoid recession.

Due to the pandemic, oil prices actually went negative for a while. Every oil producer got crushed.

Now they are trying to recoup their losses.

If the price of oil goes to low for their liking, they will cut production. That's what the part you quoted means.

 

[g5000]

LOL...the only way Creepy Joe could influence oil prices was to fuck over the economy.

Let's Go Brandon.

He has approved more oil leases than even Trump did.

And he has allowed the sale of a drilling area the size of New Mexico to go forward.

He is also prepared to release oil from the reserve.

There is not much more a president can do than that. Biden has done everything within his power.

 

[Phillip]

OPEC and Russia have been playing games with the price by not ramping up their production to match the post-pandemic surge in demand. They want the price high because their domestic economies are totally dependent on the price of oil. Russia needs to keep the price above $60 to avoid recession.

Due to the pandemic, oil prices actually went negative for a while. Every oil producer got crushed.

Now they are trying to recoup their losses.

If the price of oil goes to low for their liking, they will cut production. That's what the part you quoted means.

Yeah and in the mean time any time there is a chance to reduce the price by increasing production here at home so Liberal MF is going to cry FOUL!