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Biden admits ‘I don’t have a near-term answer’ for high gas prices
Posted on 10/22/21 at 8:24 am
Posted on 10/22/21 at 8:24 am
LINK
quote:
President Biden admitted during a CNN town hall Thursday night that he has no immediate solution to the problem of spiking gas prices and suggested that Americans would not start seeing relief at the pump until next year.
“My guess is, you’ll start to see gas prices come down as we get by and going into the winter – I mean, excuse me, into next year, 2022,” the president told moderator Anderson Cooper at the Baltimore event.
“I don’t see anything that’s going to happen in the meantime that’s going to significantly reduce gas prices.
“I must tell you, I don’t have a near-term answer,” Biden added before musing on the possibility that he could “go in the [Strategic] Petroleum Reserve and take out and probably reduce the price of gas maybe 18 cents or so per gallon, [but] it’s still gonna be above three bucks.”
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Posted on 10/22/21 at 8:26 am to WPBTiger
how about open up American oil pipelines and more fracking.
Posted on 10/22/21 at 8:28 am to WPBTiger
I have the perfect solution. Admit you and your administration is a fraud and step aside.
Posted on 10/22/21 at 8:28 am to WPBTiger
He doesn't have an answer to anything
Posted on 10/22/21 at 8:28 am to WPBTiger
The answer was handed to him. All he has to do is reverse his shitty policies.
This makes me happy. The “I voted for him because OMB” crowd is waking up.
This makes me happy. The “I voted for him because OMB” crowd is waking up.
Posted on 10/22/21 at 8:28 am to AubieinNC2009
quote:
how about open up American oil pipelines and more fracking.
That would upset rich San Franciscans
Posted on 10/22/21 at 8:31 am to WPBTiger
quote:
“My guess is, you’ll start to see gas prices come down as we get by and going into the winter – I mean, excuse me, into next year, 2022,” the president told moderator Anderson Cooper at the Baltimore event.
“I don’t see anything that’s going to happen in the meantime that’s going to significantly reduce gas prices.
Why would he have an answer for it...it's what this administration WANTS! Psaki stated that plainly a week or so ago when asked, when she said it was rough that prices were high...but the existential threat of CLIMATE CHANGE could not wait any longer.
High prices are the goal. what they are hoping for is high gas prices and no political fallout for themselves.
Posted on 10/22/21 at 8:32 am to WPBTiger
Lying POS! He wants high gas prices to drive the sales of electric cars, and further his bullshite spending agendas, period!
Here is what he really wants:
Everyone (except the elites) live in a high rise apartment
Everyone (except the elites) drive an electric car
Everyone (except the elites) make $42,000/year
SOCIALISM, that is all.
Here is what he really wants:
Everyone (except the elites) live in a high rise apartment
Everyone (except the elites) drive an electric car
Everyone (except the elites) make $42,000/year
SOCIALISM, that is all.
This post was edited on 10/22/21 at 8:34 am
Posted on 10/22/21 at 8:33 am to WPBTiger
quote:
‘I don’t have a near-term answer’ for high gas prices
Unfortunately, this does not surprise me...
However, I know this is intentional from those inside this administration... They want to make things as painful as possible on the American people and drive people away from the idea of the freedom of a gasoline car...
Posted on 10/22/21 at 8:33 am to WPBTiger
He was going to cure cancer during the campaign but he can’t figure this out? You libs are special.
Posted on 10/22/21 at 8:41 am to WPBTiger
quote:
Biden added before musing on the possibility that he could “go in the [Strategic] Petroleum Reserve and take out and probably reduce the price of gas maybe 18 cents or so per gallon,
But he did say that July 4th cookouts would cost 16 cents less IIRC...such an idiot
Posted on 10/22/21 at 8:47 am to AubieinNC2009
No pipeline which was operating have been shutdown. One not yet completed (was a year away from being operational) was stopped, from Canada. Another larger pipeline is being reversed and one already coming from Canada is being increased in size.
Oil companies are using profits to pay down the debt load which has increased since the 2014 price collapsed. Lower debt or larger cash surplus means that interest rates for money borrowed for future CAPEX is lower. (YES they all borrow Wall Street money for field development) Many had gone bankrupt after that collapse. CAPEX budgets for new drilling are already set for 2022 with shiiteload of new drilling to resume, Billions per company for some majors each year for 5 years. Drilling going up in the Gulf of Mexico with rig count expected to go to 44, mostly deepwater in already obtained leases.
Oil companies are using profits to pay down the debt load which has increased since the 2014 price collapsed. Lower debt or larger cash surplus means that interest rates for money borrowed for future CAPEX is lower. (YES they all borrow Wall Street money for field development) Many had gone bankrupt after that collapse. CAPEX budgets for new drilling are already set for 2022 with shiiteload of new drilling to resume, Billions per company for some majors each year for 5 years. Drilling going up in the Gulf of Mexico with rig count expected to go to 44, mostly deepwater in already obtained leases.
Posted on 10/22/21 at 8:48 am to WPBTiger
The president doesn't control gas prices
The only thing that will lower gas prices is more upstream production
The only thing that will lower gas prices is more upstream production
Posted on 10/22/21 at 8:50 am to fjlee90
quote:
The answer was handed to him. All he has to do is reverse his shitty policies.
Yep, all he had to do when he took office was nothing.
Posted on 10/22/21 at 8:50 am to WPBTiger
We know his answer -- Refuse to open up American drilling and put American security in grave danger by begging OPEC and Russia to pump more oil to sell to America.
Yeah, he's going to save the planet by having OPEC and Russia drill for more oil.
Yeah, he's going to save the planet by having OPEC and Russia drill for more oil.
Posted on 10/22/21 at 8:51 am to WPBTiger
All the free money that was doled out to the masses is going back into gas tanks.
Posted on 10/22/21 at 8:51 am to MMauler
quote:
Refuse to open up American drilling
When will you retards understand that this is a private investment issue?
Posted on 10/22/21 at 8:54 am to WPBTiger
I do. Admit you stole the election and restore Trump to office
Posted on 10/22/21 at 8:54 am to FightinTigersDammit
quote:
He doesn't have an answer to anything
Posted on 10/22/21 at 8:55 am to MMauler
quote:
Yeah, he's going to save the planet by having OPEC and Russia drill for more oil.
If Russia and the Saudis increase production what do you think happens to prices?
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