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re: US gas prices 2-3 days from all time highs
Posted on 3/5/22 at 11:28 am to WildTchoupitoulas
Posted on 3/5/22 at 11:28 am to WildTchoupitoulas
quote:
This isn't exactly difficult to understand - unless you flat out just don't want to.
It’s not difficult to understand that gas prices were already skyrocketing prior to the Ukrainian crisis.
You can stomp your feet and blame the Ukrainian war all you want, but the truth is gas prices have been rising for a solid year and the Biden administration has flat out refused to increase production.
3
Posted on 3/5/22 at 12:58 pm to thebigmuffaletta
quote:
You can stomp your feet and blame the Ukrainian war all you want, but the truth is gas prices have been rising for a solid year and the Biden administration has flat out refused to increase production.
This administration’s goal from the start is to make it harder for oil and gas companies to do their jobs. There’s no way to spin it. If someone thinks they’ve done a single thing to help companies produce more then please name it.
Posted on 3/5/22 at 1:25 pm to thebigmuffaletta
quote:
gas prices were already skyrocketing
Has nothing to do with the OP.
quote:
the Biden administration has flat out refused to increase production.
Ramping up oil production would help lower prices. But US producers won’t fill that gap
Like many industries in the course of the pandemic, oil producers are combating a shortage of workers. They’re additionally having bother sourcing a few of the tools they would have to ramp up production, together with pipes and specialised sand utilized in fracking to extract shale oil.
“They can’t find people, and can’t find equipment,” mentioned Robert McNally, president of consulting agency Rapidan Energy Group. “It’s not like they’re available at a premium price. They’re just not available.”
...
Another issue doubtless making oil corporations cautious about investing an excessive amount of, too quick is 2020’s oil bust. The early days of the pandemic drove oil briefly to negative pricing, leading to a spate of bankruptcies throughout the trade.
“They’re more confident we don’t have to worry about a bust, [but] they’re not uncorking the champagne,” McNally mentioned. “2020 is still fresh in their minds….They’re still scarred.”
Apparently very few people on this board remember when oil futures were negative in 2020.
Posted on 3/5/22 at 2:51 pm to thebigmuffaletta
quote:
the truth is gas prices have been rising for a solid year
Yes, they have.
quote:
the Biden administration has flat out refused to increase production.
Wait a minute. Politicians get to make that decision? We operate like Venezuela now?
Domestic oil & gas production has been on a trend since it bottomed out due to Covid shutdowns, and it’s not a downward or flat one.
Now, could Potato Biden come out and give public, vocal support of the industry in an old fashioned pro-American energy speech to rally the country? Sure.
But he’s a coward, like most politicians, so he won’t. He’s scared of upsetting his enviro-commie base.
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