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Biden is a genius! Gas in my neighborhood is about to hit three bucks a gallon. I think his mental hold over the entire industry is starting to work.

Buckeyes85 said:
Neither of those fly.
Much like the keystone pipeline issue, the first deals with the suggestion of how oil and gas might be transported more cheaply via pipeline in the future. It does not in any way prove Biden's supposed restrictions on other pipelines caused gas price increases in 2021-2022. If I'm wrong, cite me the company who can say: "We applied for a new pipeline permit in early 2021; the Biden administration rejected it; had they approved it, the pipeline would have been completed in the same year and gas prices would have been reduced as a result."

And the 2nd point is the same conjecture/failed argument I already mentioned: Biden vocally does not like oil; so prices are higher.
And for all the instances you can reference like the one you did, there are many others where he clarifies the position that while we have to ultimately move away from non renewable fossil fuels, it can't happen overnight and it shouldn't happen overnight.
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the people on the right have to keep crying about the Keystone pipeline, some keep saying " open " the Keystone pipeline when the Keystone pipeline was NEVER shut down by the Government the Keystone XL pipeline construction was shut down. NOT the Keystone pipeline.
and IF the pipeline company just would have done what the EPA told them to do and build it next to the original Keystone pipeline coming from Canada they could have built it but they insisted on the new route and the EPA said NO then in the early part of the Obama admin, Obama vetoed a bill letting them build it and they tried to override his veto and it would have been IF the 4 Senators from several south west states would have voted for it .
and as I said there have been more then 19 oil and gas pipelines put into service since Biden took office and that was back in June of 2022
Have a nice day
 
Fearandloathing said:
You have a very good grasp of the North American energy market, which includes Canada and Mexico, all of whom have been facing soaring inflation of which fuel prices were just a part.

Re: Keystone. I doubt any American understands what is going on there. As a journalist I have followed the story since the 'Alberta Tar Sands' were first developed in the mid to late 70's. It was highly controversial THEN. This is not oil you burn. It had NO EFFECT on the North American prices of gas. After completion there would be very little $ benefit to either of our two countries; AND the largest and intended user of this oil has always been China in its growing manufacturing as a lubricant!

For those reasons and more (thee record of Trans Mountain to begin with) has had opposition for 3 decades. The fact the backbone of the grid lies mainly in the US is because Canadian governments refused to issue permits to the Pacific. For 20 years. (no one ever asked how come we're pipelining oil to the Gulf of Mexico to be shipped to China? British Columbia, my province, banned the ****ing thing!)

When complete the profits would also go "offshore" as that was the money behind them
Obama put the nail in the coffin 'for all time' at the request and the "sorta secrete" support from the governing Liberals.
No one in either of our countries other than welders etc. would have ever made a dime off it.
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Yes the Canadians didn't want a pipeline built so they built it in the US and we are the ones now that have to put up with leaks form a pipeline built by a company that does NOT have a very good safety record, then on top of it these are pipes that are carrying Tar sand oil a very dirty and highly corrosive oil eating the pipe from the inside out where nobody can monitor what damage it is causing
Have a nice day
 
NatMorton said:
No, you're simply ignoring the argument and cites I've posted. Gainsaying is boring, so if you have a point to make, make it.


No, read what I wrote more carefully.


Ah, I see. It's not Biden's policies or rhetoric. It's that oil reserves are not infinite.

:rolleyes:
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Perhaps I don't understand the definition of gainsaying.
To me, pointing out that you have not provided evidence/support for your affirmative claim, is not gainsaying.
Could Biden's policies as to approving pipelines eventually have an impact on oil prices? Yes. Could his comments/approach to the fossil fuel industry in general dissuade investors and cause an impact on pricing? Maybe.
Is there any evidence to suggest those things had a causative effect on the spike in gas prices over the past 18 months? No.
 
bongsaway said:
And folks on the right were bitching when it hit three dollars and was still going up, so I'm bragging when it hit three going down. So, are we even?
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Uhhh...you're not making the point you think you're making.
 
So they’re not greedy any more?
 
iguanaman said:
I said profit MARGINS not profits. So you think war profiteering is ok too? When companies monopolize the flow of a needed commodity they have a responsibility to not use that power to unfairly profit from that monopoly.
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You obviously don’t even know what a monopoly is. The idea these big companies all agree on things like prices is 5th grade level stuff.
 
Buckeyes85 said:
Perhaps I don't understand the definition of gainsaying.
To me, pointing out that you have not provided evidence/support for your affirmative claim, is not gainsaying.
Could Biden's policies as to approving pipelines eventually have an impact on oil prices? Yes. Could his comments/approach to the fossil fuel industry in general dissuade investors and cause an impact on pricing? Maybe.
Is there any evidence to suggest those things had a causative effect on the spike in gas prices over the past 18 months? No.
Click to expand...
What evidence do you see that Biden's policies have, on balance, driven down gas prices?
 
KLATTU said:
You obviously don’t even know what a monopoly is. The idea these big companies all agree on things like prices is 5th grade level stuff.
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You must be in Kindergarten then. There is no competition for pricing of gasoline and oil companies and refiners control and can manipulate the supply too. Gasoline is auctioned like most commodities and those prices can be bid up by hedge funds. We got taken with those high prices and there is no doubt about it. The profits speak for themselves.
 
NatMorton said:
What evidence do you see that Biden's policies have, on balance, driven down gas prices?
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The only thing a President can really do about oil prices is to release oil from the reserves and Biden did that. He also took it on the chin for us when he went to Saudi Arabia and shook that murderers hand to try and get him to increase production.
 
NatMorton said:
What evidence do you see that Biden's policies have, on balance, driven down gas prices?
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None.
I'm not one of those claiming that the downturn in price has been due to his policies. And I think the OP was in jest suggesting Biden must be a genius.

Much like my thoughts on the economy in general: I believe a president's impact on gas prices, in the short term, are usually minimal.
 
iguanaman said:
The only thing a President can really do about oil prices is to release oil from the reserves and Biden did that. He also took it on the chin for us when he went to Saudi Arabia and shook that murderers hand to try and get him to increase production.
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So regulations that hamper exploration and drilling and declarations that he's committed to literally ending the entire industry have no effect?
 
3.80-something in upstate New York, 3.57 across the border in Vermont.
 
NatMorton said:
So regulations that hamper exploration and drilling and declarations that he's committed to literally ending the entire industry have no effect?
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The fossil fuel industry sees the writing on the wall. They don't need Biden to tell them. The entire world is trying to decrease their dependence on fossil fuels.

They have plenty of leases to explore and drill. Shareholder value and record profits are their priorities. High oil prices are obviously are very good for them. Why drill drill and build more refineries?
 
The real crisis is the cost of diesel. We have a major diesel shortage. The cost of diesel is a big factor in the high cost of everything. A 30 cent drop in gasoline is great but for me here, cheap gas is $3.45
 
rickc said:
The fossil fuel industry sees the writing on the wall. They don't need Biden to tell them. The entire world is trying to decrease their dependence on fossil fuels.

They have plenty of leases to explore and drill. Shareholder value and record profits are their priorities. High oil prices are obviously are very good for them. Why drill drill and build more refineries?
Click to expand...

Again, so Biden policies and his stated commitment to ending the industry have had no impact, right?
 
NatMorton said:
You're welcome to that opinion, but it doesn't really jibe with the data in post 93, does it?
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Cause Effect

You believe it was Biden's rhetoric.

Other events were underway. The end of the pandemic. The entire world slowly getting back to normal. The contraction in the entire supply chain from global lockdown has to be reversed. Limited supply with pent up demand causes inflation worldwide. Then Ukraine war starts up.

U.S. oil production had recently experienced two huge contraction. In April 2020 oil futures went negative for the first time due to a price war between the Saudis and Russia. 100's of frackers went bankrupt. About the time oil prices were recovering from that along comes covid lockdown and prices crash again. No wonder American oil companies don't want to run out and invest in more production. Caution is the word these days. Banks and shareholders demand it.
 
Tbird19482 said:
Yes the Covid did effect it some but it was the Saudi / Russian oil price war that caused the US oil industry to become a mess.
They dropped the price so low in Apr. 2020 that US oil production fell to 9.7 MBPD and over 100 oil producing companies went Bankrupt and most of them went out of business for good because they could not compete with those prices being so low.
the number of producing oil rigs fell to something like 265 rigs producing oil in Sept. 2020 and is now at 768 in Oct 2022 ( the chart I was using went back more months before but now only goes to Sept. IF I remember right it went down to 235 rigs producing oil in May of 2020 ) and it all happened way before Biden took office
since Biden took office the US oil industry has been making a good come back from the disastrous year of 2020
Have a nice day
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But it never came back to the 2019 level, did it.
Did what Joe Biden said and did have any effect on the cost of energy?
Love those pajamas. Are they made from cotton grown between the Sahara Desert, the Mediterranean Sea and the Nile River?
 
NatMorton said:
No, you're simply ignoring the argument and cites I've posted. Gainsaying is boring, so if you have a point to make, make it.


No, read what I wrote more carefully.


Ah, I see. It's not Biden's policies or rhetoric. It's that oil reserves are not infinite.

:rolleyes:
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You appear very triggered that gas prices are coming down. So here's my solution for you.

Make our country do another election next month. I'm sure the prices will shoot right back up.
 
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