horseshit-----------------Biden caused the price of oil and other fossil fuels to go up when he shut keystone and blocked all new drilling on federal lands and in the gulf. The price of energy affects the price of everything------------hence the high inflation that Biden has put on us all with his stupid AGW bullshit policies.
A huge pile of horseshit. For 1, The XL has nothing to do with US oil production,. And #2, even if Biden hadn't shut down the XL, it would still not be completed yet. Plus 100% of that tar sands crap isn't ours. It's Canadian and Chinese oil. The only thing we would've done is refine it at only 1 specialized refinery.
If the price of oil was $2 per gallon without the XL being completed, you can't say that because they stopped construction on it, helped increase the price at the pump. Because it wasn't completed when gas was $2 per gallon.
That's just retarded to even think that.
The price of oil went up because the oil companies started their bust cycle. It always goes up when the bust cycle starts.
US oil field lay offs started months before the Biden/Trump election. Record US oilfield layoffs were already underway by June of 2020. That's 5 months before the election. Bust cycles go on for a year, if there's nothing else effecting it. This time, Covid effected everything. Especially the demand. Which was at record lows. So there was no need to produce much oil. And no reason at all to drill for new sources.
The oil companies had over 1500 drilling permits on hand in 2021, that they didn't even use.
Food for thought: What happens to the price of ANY commodity when the demand for it falls on it's face? It drops, right? It does this so they can keep selling it, right?
Under Biden, the opposite occurred. The price went up when the demand fell? Biden simply played his part.
If Biden hadn't done what he done, the US oil companies (and the oil futures market) would not have been able to justify the price hike.
I don't expect you, or any of the Trumpbots, to be a Sherlock Holmes about this, but let's look at the relevant facts of all this.
1. The oil companies had been in a boom cycle for 4 years.
2. Saudi and Russia were in an oil price war, which sent the global oil prices way down. So low that it was much cheaper for US oil companies to import than to drill more wells.
3. US production and storage tanks were full in the early months of 2020.
4. April of 2020, Trump gets Saudi, Mexico and US oil companies to DECREASE oil production.
5. In the month(s) following that deal, US oil companies stopped producing much oil, using up what they had in storage. They stopped drilling. But the storage capacity was still too high or the futures market to increase the price of oil. (if you have an over abundance of any commodity, you can't increase the price)
6. The oil industry initiates the bust cycle. Massive oil field layoffs began.
7. Covid hits hard, and so the demand for oil goes way down.
8. By the time Biden takes office and initiates his fake war on the oil industry, oil storage was depleted and the oil futures market kicks in. Prices start to climb.
9. Because of Biden's fake war on oil, it allows the oil futures market and the oil companies to increase their prices, and at the same time, massively reduce oil production. <<<That's the key to all this. Biden's fake war on oil. He simply played his part.
The end result was oil companies made record profits at the same time as having record low production.
The proof that Biden lied about "ending fossil fuels" can be seen by looking at the amount of oil that's being produced at the moment. And at how many times environmentalist groups have sued the Biden Administration for opening up all those oil leases again. BTW, when Biden shut down those oil leases, they weren't being used. They hadn't even had geological studies done on them yet, to see where the best location for drilling was. Which means they were at least 3 to 5 years from even starting to drill.
Biden is a liar. He lied about this "war on oil." Trumpbots and Bidenbots both believed him. He pulled the wool over all y'alls heads.