Since oil prices is driving inflation. Here is a good article on oil production and the business along with government policies effecting oil prices.

[HandleTheTruth]

Is that why Biden said he was going to shutdown big oil?

Red meat for the base.

 

[surada]

Is that why Biden said he was going to shutdown big oil?

Big oil was all but shut down world wide because of the pandemic. There was no demand.

 

[HandleTheTruth]

Big oil was all but shut down world wide because of the pandemic. There was no demand.

So production dropped off.

Capitalism worked.

 

[jknowgood]

No he didn't. You have nothing to back that up. The market dictates prices not the president.

And fox news used to report that under bush when prices skyrocketed.

Lol, Obama did all he could to shutdown drilling. It was fracking on private land that got us all that oil and he tried to stop that.

 

[HandleTheTruth]

Lol, Obama did all he could to shutdown drilling. It was fracking on private land that got us all that oil and he tried to stop that.

No he didn't. Oil production was the strongest under Obama then it was in years. And oil prices reflected that.

 

[jknowgood]

Big oil was all but shut down world wide because of the pandemic. There was no demand.

The price of oil remained low, till it was announced that Biden was president. It has been rising ever since.

 

[jknowgood]

No he didn't. Oil production was the strongest under Obama then it was in years. And oil prices reflected that.

You must be young. Obama wanted gas at $5 a gallon. But drilling on private lands stop him from achieving that.

 

[KissMy]

US Oil Drilling Rig Count is at a current level of 728, up from 453 one year ago. This is a 61% increase from one year ago!

We will set many new US Oil Production Records under Biden!

Russian oil is mostly in frozen Siberia where it has now frozen solid sitting in pipelines & wellheads since it's hot flow was halted by trade embargoes. The burst wells will have to be re-drilled & new pipeline laid, but the drilling companies have pulled out back to the USA. LOL!!!

Russia, China, India, Africa & Mid-East are all screwed!
1 Billion of them will die next year.

 

[CowboyTed]

xiden and the dembots have had power for over 6 months

By the way do you know how Oil the US government owns that comes out of the ground? Zero...

You are so busy trying to blame Biden you can't see the US President has little to no effect on oil prices... Oil is a global commodity, Oil produced in US does not belong to the US...

 

[CowboyTed]

Not Trump businesses the oil industry when prices hit the lows the companies that were pumping oil folded like a lawn chair. Look up oil companies bankruptcies during the trump adm.

U.S. oil producers on pace for most bankruptcies since last oil downturn

Oasis Petroleum Inc and Lonestar Resources US Inc's bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies since the 2016 shale downturn.

www.reuters.com

 

[CowboyTed]

yeah i read that. The sad part s the last part of the article where everyone was expecting a nice comeback as trump was taking us out of the pandemic…we were so optimistic…then xiden and the dembots screwed everything up.

you do realize a bankruptcy doesn’t mean a company shuts down or stops drilling right? it deals with debt

Trump over saw the bankrupties and did nothing...

You are complaining that Biden can't clean up Trump's mess quick enough.. Ever think of not electing the screw up in the first place...

Your type complained that Obama didn't fix Bush Jtr mess quick enough too..

Why does Democrats Presidents job to clean up the mess from the GOP President before him...

Trump hadn't a clue how to deal with the pandemic, he didn't prepare and lied to the people about its severity... Remember Trump said it would be gone in a week...

 

[struth]

By the way do you know how Oil the US government owns that comes out of the ground? Zero...

You are so busy trying to blame Biden you can't see the US President has little to no effect on oil prices... Oil is a global commodity, Oil produced in US does not belong to the US...

No, he regulates it

 

[struth]

Trump over saw the bankrupties and did nothing...

You are complaining that Biden can't clean up Trump's mess quick enough.. Ever think of not electing the screw up in the first place...

Your type complained that Obama didn't fix Bush Jtr mess quick enough too..

Why does Democrats Presidents job to clean up the mess from the GOP President before him...

Trump hadn't a clue how to deal with the pandemic, he didn't prepare and lied to the people about its severity... Remember Trump said it would be gone in a week...

no he didn’t trump was head of the executive
…bankrupties are done via the court

Trump didn’t have a clue, you are right…it was a new virus, yet he still managed to keep more people alive then xiden, and developed 3 vaccines

Xiden killed more and has made no advancement on vaccines