Gas prices

[gounion]

Now, Glenn and Joe and Green Grass will be blaming the gas prices on Joe Biden and not the war in the Ukraine, showing the are rank partisans that just want to attack the duly elected President even though this is the biggest crisis since WW2.

So much for patriotism. More conservatives support Putin than support Biden.

But here’s the thing: our oil companies have had records profits for some time. And it doesn’t cost them a dime more to produce a gallon of gas today than it did two weeks ago. Or a year ago.

But as the price of oil goes up on the world market, they are gouging the public. They could say “in the name of patriotism, we will sell gas at the same price as we did two weeks ago in America”

But no, it’ll double in price or more over the next weeks and they’ll pocket every dime and no, they won’t use those windfall profits to drill more wells. They’ll just have one big party.

At our expense.

But Glenn keep screaming about Biden. If you yell loud enough, you drown out the truth from your ears.

[Libertas]

Cons have no clue about economics, bookkeeping etc.

[Number6]

Gas prices have more to do with the "free market" forces than with federal or state governmental policies. We don't need to allow the Keystone pipeline, which wouldn't provide any oil for years, or to open more areas for oil leasing/exploration.
Oil companies are sitting on thousands of idle oil rigs that were too expensive previous to operate but with oil at $100 a barrel it makes it more profitable to open them back up.

[Motor City]

Do you think the Venezuela sanctions will be rethought now?

[ZoWie]

There is a certain truth to the idea that the oil supply increases when higher prices temporarily support more expensive means of extraction. I still don't support basing any 21st century economy on fossil fuel. It's just SO 20th century, and besides, with too much more burning shit for energy, there won't be a 22nd century.

[Glennfs]

Now, Glenn and Joe and Green Grass will be blaming the gas prices on Joe Biden and not the war in the Ukraine, showing the are rank partisans that just want to attack the duly elected President even though this is the biggest crisis since WW2.

So much for patriotism. More conservatives support Putin than support Biden.

But here’s the thing: our oil companies have had records profits for some time. And it doesn’t cost them a dime more to produce a gallon of gas today than it did two weeks ago. Or a year ago.

But as the price of oil goes up on the world market, they are gouging the public. They could say “in the name of patriotism, we will sell gas at the same price as we did two weeks ago in America”

But no, it’ll double in price or more over the next weeks and they’ll pocket every dime and no, they won’t use those windfall profits to drill more wells. They’ll just have one big party.

At our expense.

But Glenn keep screaming about Biden. If you yell loud enough, you drown out the truth from your ears.

another day another lie. Certainly the recent increases have been due to the Ukraine situation. But, to deny that the increases prior werent due to Biden's war on oil is just being partisan.
The actions of Biden's first week in office are what caused gas to double. Since then he has done nothing to fight back on the increases caused by the Russian invasion.
but, of course GoU and the rest being partisan will not see or admit the truth.

[Glennfs]

Do you think the Venezuela sanctions will be rethought now?

Yes absolutely along with opening the pipeline, reversing the decsion on new and existing leases, loosening up the regulations on methanre and getting the USA out of the illegal Paris Accords

[carmenjonze]

… Biden's war on oil …

[carmenjonze]

… Biden's war on oil …

[Bludogdem]

Yes absolutely along with opening the pipeline, reversing the decsion on new and existing leases, loosening up the regulations on methanre and getting the USA out of the illegal Paris Accords

The pipeline is a convenience. That oil is still getting to the gulf coast. But it’s by train or boat.

This is a global market situation. Happens on a somewhat regular basis. Covid has been a disruption. Part of the increase is a demand situation where producers who operated for years with high exploration costs are building up a cash stockpile for future exploration. I read apiece the other day that in 2020 there are just over 400 rigs pumping big time. By the end of 2021 another 240 had been added and more are in process.

[Libertas]

Please tell me he didnt say that

[carmenjonze]

Please tell me he didnt say that

WTH does it even mean?

[gounion]

another day another lie. Certainly the recent increases have been due to the Ukraine situation. But, to deny that the increases prior werent due to Biden's war on oil is just being partisan.
The actions of Biden's first week in office are what caused gas to double. Since then he has done nothing to fight back on the increases caused by the Russian invasion.
but, of course GoU and the rest being partisan will not see or admit the truth.

Is it true or not that the American oil companies do NOT have to sell their oil domestically at the world price?

It doesn't cost anymore to extract and refine oil than it did a month ago.

They are using the Ukraine to gouge. But you love it if it hurts Biden, don't you?

[bradman]

Suppose i could have filled my tank a week ago. But coming of driving age during the oil embargo, and having witnessed it, i absolutely refuse to engage in any kind of fuel hoarding. i just did not understand the guy up the block. Ol' Louie had 10 5 gallon gas cans all neatly lined up in his garage. Between those, the 30 gallon drum outside, and his two Lincolns, he was on a mission. He was one of those guys that would use a gallon of gas for his lawnmower and then go wait in a fuel line to refill the can and his Lincoln. It's like he couldn't sleep at night without knowing his fuel supply was topped off. It made no sense.

On the other hand. i did my normal. It reached a 1/4 of a tank yesterday so i filled it up. 98 dollars for what had been costing just over 50 bucks. Ouch.

[Motor City]

Is it true or not that the American oil companies do NOT have to sell their oil domestically at the world price?

It doesn't cost anymore to extract and refine oil than it did a month ago.

They are using the Ukraine to gouge. But you love it if it hurts Biden, don't you?

The purpose is to hurt the public so they can sweep ultra conservative type politicians into power. another of the coercive measures that show how insecure they have become that change could happen.

[Number6]

another day another lie. Certainly the recent increases have been due to the Ukraine situation. But, to deny that the increases prior werent due to Biden's war on oil is just being partisan.
The actions of Biden's first week in office are what caused gas to double. Since then he has done nothing to fight back on the increases caused by the Russian invasion.
but, of course GoU and the rest being partisan will not see or admit the truth.

Please tell us what it is that "... Biden's first week in office are what caused gas to double?"

[Motor City]

The pipeline is a convenience. That oil is still getting to the gulf coast. But it’s by train or boat.

This is a global market situation. Happens on a somewhat regular basis. Covid has been a disruption. Part of the increase is a demand situation where producers who operated for years with high exploration costs are building up a cash stockpile for future exploration. I read apiece the other day that in 2020 there are just over 400 rigs pumping big time. By the end of 2021 another 240 had been added and more are in process.

https://twitter.com/marwilliamson/statu ... 5825862656

Stock buybacks were not even legal until the 1980s. This is why.

Here's a fact you won't hear on Fox News today. Exxon, Chevron, and Conoco made $46 billion in profit in 2021. Now they're using 40% of those profits for stock buybacks. Big Oil is raking it in, raising prices, and taking advantage of the war in Ukraine to push for more drilling.

democracy crushing austerity

[ProfX]

[Libertas]

Excellent...in my case (and that of many others) double whammy, gas prices and major losses in the market, but if the alternative is putin or trump having power, fuck it, take my money. Wont be worth anything anyway.

[Glennfs]

Jie Biden's war on oil caused the increases prior to the Ukraine crisis.
Shut down the pipeline
No new leases
Cancel some present leases
New regulations
Reentering the illegal Paris Accords

[Glennfs]

Is it true or not that the American oil companies do NOT have to sell their oil domestically at the world price?

It doesn't cost anymore to extract and refine oil than it did a month ago.

They are using the Ukraine to gouge. But you love it if it hurts Biden, don't you?

There was a ban on selling our oil overseas until Obama ended it

[Number6]

Jie Biden's war on oil caused the increases prior to the Ukraine crisis.
Shut down the pipeline

You're talking about the Keystone Pipeline, right? The pipeline from Canada to the Gulf coast of Texas and of which 2/3 of the oil would be exported to other countries. There would be little benefit to the U.S..

No new leases'
Cancel some present leases

Oil companies are sitting on top of thousands of oil leases, many of which are either un-drilled on or have been drilled but the oil companies have shut down but could, in many instance, reopen and begin pumping.

New regulations

And what new regulations are these and how do they affect oil production?

Reentering the illegal Paris Accords

Why is it illegal?

[Number6]

There was a ban on selling our oil overseas until Obama ended it

There was a ban on oil export because the U.S. was dependent on oil imports. But since the U.S. produces more oil than it needs the law was changed to allow the excess oil produced to be exported.

[Libertas]

US oil companies dont want more oil, they like the prices high.

[carmenjonze]

If Sam Lefthand had his way, this guy would never be in office due to the word "Rev." in front of his name. :problem:

__________

Reverend Raphael Warnock
@ReverendWarnock

My bill to suspend the federal gas tax would help make gas more affordable. Folks need help now.

https://twitter.com/ReverendWarnock/sta ... 4344336387

__________

Even that stupid bigot Kemp has the sense to be on board with this.

Kemp and Warnock push for halt to gas taxes as prices rise - Georgia Public Broadcasting