Biden demands faster drop in gas prices as oil tumbles

[CaughtInThe]

Gasoline is inelasti


They can't skyrocket prices if people don't buy at those prices.

I know about that.

Why don't you.

so now it's that a gas station can't up prices if they want?

you a socialist?

 

[Helix]

Please explain how a public sector competitor would work.

An oil company run by the government where they could stand to lose money (because the tax payers foot the inefficiency and stupidity) since the government will back it up.

Public Sector Competitor is an oxymoron.

It would produce and sell energy, but would not consider profit to be the primary concern. During times in which private entities aren't meeting demand and costs to consumers are skyrocketing, the public competitor can increase production.

 

[CaughtInThe]

I have more money than I'll ever need.....sound familiar ?

some people do. a huge percentage of the republican base (of which you're obviously part) don't.

 

[multivita-man]

All the articles I read from experts in the field are pointing to $6-8/gas over the summer. At some point, this will all lead to demand destruction, either because consumers just radically reduce their consumption or because of a recession, or maybe both.

I hate to say it, but midterms are probably going to be brutal for Dems for this reason. I wish people could see beyond party X is in charge and Y happened, therefore it's party X's fault that Y happened - but I doubt we can.

 

[HikerGuy83]

I don't know precisely how gasoline prices are set, but it wouldn't surprise me at all for them to be artificially raised and kept higher than reasonable under the façade of it being due to the Russia vs. Ukraine thing.

It's pretty simple.

The entire supply chain works so that the consumer prices gets rid of all the gasoline that is available without leaving anyone wanting.

 

[eohrnberger]

Biden demands faster drop in gas prices as oil tumbles

President Joe Biden is using his bully pulpit to call out the tendency for gasoline prices to go up like a rocket when oil spikes, but only drop like a feather when crude crashes.

www.cnn.com

--

Does Biden have a point?

It appears oil has been tumbling the last week, down 23%.

If Biden is so concerned, he could certainly help matters along by rolling back some of his, or more so the environmental leftists radical activists in his administration's, policies:

Just in the past week, the administration has only doubled down to:​

• propose new climate standards to regulate conventional trucks out of existence.
• decline to appeal a federal court decision vacating the only lease sale held on federal lands or waters (despite clear statutory direction from Congress to regularly hold sales).
• propose any day now what some are calling “the biggest rule … the [Securities and Exchange Commission] has done in quite some time”; namely, mandating companies disclose greenhouse emissions from their entire supply chain.

Russian Oil Import Ban Just a Distraction From Biden’s Anti-Energy Policies​

Katie Tubb / March 08, 2022​

Russian Oil Ban Is Just Distraction From Biden’s Anti-Energy Policies

President Biden is anti-energy, and he's unwilling to make the necessary policy changes for a Russian oil import ban to be truly effective.

www.dailysignal.com

​

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

These twenty-five Biden administration policies are affecting gas prices, home heating costs, and other energy-related burdens families face. Read more.

americansforprosperity.org

​

The Biden Administration’s Radical Regulatory Agenda​

President Biden’s regulatory agenda represents a massive tax on all Americans and the entire U.S. economy: higher energy rates resulting from dubious global warming schemes, increased food prices from excessive production standards, restricted access to credit under reams of paternalistic dictates, and fewer health care choices and higher costs from a raft of medical mandates, to name a few. This is not the limited government of America’s Founding, its constitutional framework, or its republican ideals. Unless constrained, the Biden Administration will crush the freedoms on which this nation was founded.​

Diane Katz, March 14, 2022​

The Biden Administration’s Radical Regulatory Agenda

The Biden Administration’s regulatory agenda for 2022 reveals complete indifference toward the social and economic chaos perpetrated to date by the President’s progressive policies. Few, if any, of the thousands of looming regulations are necessary or beneficial notwithstanding the enormous...

www.heritage.org

1. The Biden Administration’s new regulatory agenda shows complete indifference to the social chaos and economic misery the President’s policies have produced.
2. This agenda encroaches excessively on state and local affairs, perverting America’s constitutional framework and eroding self-governance.
3. Congress must ensure that regulations are necessary and effective and abide by constitutional limits.

Or perhaps even be in support of legislation to address the matter, such as this:

Democrats Block GOP Bill That Would Restart Keystone XL, Federal Oil Lease Program

Democrats voted down a motion to consider GOP legislation that would reverse several Biden administration energy policies, according to Minority Leader Kevin McCarthy's office.

dailycaller.com

But, or more so the environmental leftists radical activists in his administration, won't consider that. Here, you can take Biden's own words for it:

I'm glad you're amused.

When? Dec 2019.
Here's one source: https://www.atr.org/joe-biden-we-are-going-get-rid-fossil-fuels/
If you don't like that, here's another: https://www.climatedepot.com/2019/1...e-dont-stop-using-fossil-fuels-were-all-dead/
If you don't like that, here's another: https://www.dailymail.co.uk/news/ar...ossil-fuel-executives-environment-damage.html
If you don't like that, here's another: https://lidblog.com/fossil-fuel-execs-jail/

There are more, but that should suffice.

So, sorry, Biden Tweeting that is just so much lying to the public, and just so much gaslighting propaganda from him, given the track record of his, and his environmental leftists radical activists in his administration's, actions and track record.

Are you really this readily and easily duped by him?

 

[HikerGuy83]

some people do. a huge percentage of the republican base (of which you're obviously part) don't.

Thanks for those statistics backing up your claim.

 

[HikerGuy83]

It would produce and sell energy, but would not consider profit to be the primary concern. During times in which private entities aren't meeting demand and costs to consumers are skyrocketing, the public competitor can increase production.

Private entities meet demand.

What are you talking about.

How is bloated, tax-backed, public sector firm going to meet demand a private producer won't ? Without spending lots of money they had no hand in making ?

 

[HikerGuy83]

All the articles I read from experts in the field are pointing to $6-8/gas over the summer. At some point, this will all lead to demand destruction, either because consumers just radically reduce their consumption or because of a recession, or maybe both.

I hate to say it, but midterms are probably going to be brutal for Dems for this reason. I wish people could see beyond party X is in charge and Y happened, therefore it's party X's fault that Y happened - but I doubt we can.

Yep....it's going to suck for the dems.

And when the GOP gets in there and is just as useless, they'll get traded out soon after.

When will we get politicians who say...."It's supply and demand....deal with it" ?

 

[multivita-man]

Yep....it's going to suck for the dems.

And when the GOP gets in there and is just as useless, they'll get traded out soon after.

When will we get politicians who say...."It's supply and demand....deal with it" ?

We have to find a way to consume less. I don't mean just the US but all developed countries. We're headed toward an unmitigated disaster.

 

[HikerGuy83]

We have to find a way to consume less. I don't mean just the US but all developed countries. We're headed toward an unmitigated disaster.

We already have one ==> Joe Biden

 

[Ahlevah]

yeah, the oil companies, over time, don't make much jack.

Back in the ‘70s oil companies comprised about 18% of the market capitalization of the S&P 500. Today it’s about 3%. Oil companies dominated lists of the largest corporations in the world, with Exxon at the pinnacle. Today, it’s still a large company, but ranked 15th overall. Not one oil company is in the top ten.

 

[Helix]

Private entities meet demand.

What are you talking about.

How is bloated, tax-backed, public sector firm going to meet demand a private producer won't ? Without spending lots of money they had no hand in making ?

I doubt that we'll find out how well it could work, as this country has too many voters who would rather have us go through predictable energy crisis cycles because they can't admit to themselves that we could try a new strategy.

 

[PeacefulWarrior]

President Biden NAILED it!!! I support President Joe Biden on this issue. He speaks the truth, and he's working for Middle Class Americans.

President Biden has brought us this far out of the trumPlague years...and he will take us the rest of the way!

Thank you Mister President!!

 

[HikerGuy83]

I doubt that we'll find out how well it could work, as this country has too many voters who would rather have us go through predictable energy crisis cycles because they can't admit to themselves that we could try a new strategy.

There is more than one new strategy.

And one that includes the government isn't a strategy......it's a waste of effort.

 

[Ahlevah]

We have to find a way to consume less. I don't mean just the US but all developed countries. We're headed toward an unmitigated disaster.

Well, there’s the Obama Plan: raise prices in a cap and trade system as a means to fight climate change. Tough shit if you can’t afford it. Take the bus, or ride a bike.

 

[Helix]

There is more than one new strategy.

And one that includes the government isn't a strategy......it's a waste of effort.

Strategies that include the government aren't strategies? That's an interesting claim.

 

[Metric Mouse]

are oil companies profitable?

Record bankruptcy debt across North America oil and gas in 2020

Low crude prices prompted more than 100 North American oil and gas firms to file for bankruptcy in 2020, with their combined debt more than $100bn.

www.nsenergybusiness.com

 

[US&THEM]

Back in the ‘70s oil companies comprised about 18% of the market capitalization of the S&P 500. Today it’s about 3%. Oil companies dominated lists of the largest corporations in the world, with Exxon at the pinnacle. Today, it’s still a large company, but ranked 15th overall. Not one oil company is in the top ten.

At $2 Trillion, Aramco Races Apple for Most Valuable Company
Oil giant’s value surges as crude oil rally boosts the stock
Tech firms are under pressure as inflation fears roil markets

 

[HikerGuy83]

Strategies that include the government aren't strategies? That's an interesting claim.

Strategies that include the government in affecting a very complex economy are nothing more than unicorns.

 

[US&THEM]

Strategies that include the government in affecting a very complex economy are nothing more than unicorns.

Without the US govt you have what exactly? China? US banks matter because of our govt

 

[Ahlevah]

Strategies that include the government aren't strategies? That's an interesting claim.

I think what he meant was, when it comes to creating an energy policy, the government is like a reverse King Midas: everything it touches turns to shit. For example, we have Jimmy Carter’s U.S. Synfuels Corporation, and Obama’s loan guarantees for Solyndra. In case you didn’t know, both companies are defunct. And we had “old” oil and “new” oil, a scheme to require the use of uneconomical ethanol from American farmers when we could have purchased it from Brazil at a much cheaper price while reserving our corn for food, etc., etc., etc.

Basically, what we have is an endless series of ****-ups.

 

[Ahlevah]

At $2 Trillion, Aramco Races Apple for Most Valuable Company

Aramco is the Saudi national oil company. It has a monopoly on the reserves of the world’s second largest oil producer. So, of course, it has a significant value. I mean, duh.

 

[US&THEM]

Aramco is the Saudi national oil company. It has a monopoly on the reserves of the world’s second largest oil producer. So, of course, it has a significant value. I mean, duh.

Yes they control and manipulate the market.

 

[Helix]

I think what he meant was, when it comes to creating an energy policy, the government is like a reverse King Midas: everything it touches turns to shit. For example, we have Jimmy Carter’s U.S. Synfuels Corporation, and Obama’s loan guarantees for Solyndra. In case you didn’t know, both companies are defunct. And we had “old” oil and “new” oil, a scheme to require the use of uneconomical ethanol from American farmers when we could have purchased it from Brazil at a much cheaper price while reserving our corn for food, etc., etc., etc.

Basically, what we have is an endless series of ****-ups.

It's amazing how little some people understand the public sector. For example, much of the not yet profitable fundamental scientific research is done by the public sector and is then used by other scientists to develop for profit health care solutions. However, i found his comment entertaining.