Fuel prices going up
Tuned
Joined: Jan 2005
Posts: 433
Likes: 57
From: Bridgewater Ma
Yes, really. Demand for oil collapsed in 2020, and has now recovered. We "drained our oil reserves" to help bring the price down. Now that prices are down, we can replenish the reserves at a lower price. We leaned on the Saudis to increase supply for the same reason. It's a global market. Would you rather we just let prices stay high?
According to Forbes, as well as factcheck.org, we are still energy independent.
https://www.forbes.com/sites/rrapier/2022/03/08/surprise-the-us-is-still-energy-independent/?sh=64b60c4830b6
https://www.factcheck.org/2022/03/examining-u-s-energy-independence-claims/
Cato says we're not - and that's a good thing.
https://www.cato.org/commentary/actu...ats-good-thing
In short, with a global energy trade and imports and exports varying by the day/month/year, it's complicated.
Believe what you want, but in a world with global trade the Saudis and OPEC are always going to have some influence over oil supply and oil prices, so our best move is to stop using so much oil and produce our own renewable energy here in the US. Which will make us more energy independent and less reliant on the Saudis. I'm sure you're on board for that right?
Thanks for supporting American Energy Independence, and you have a great day as well!
According to Forbes, as well as factcheck.org, we are still energy independent.
https://www.forbes.com/sites/rrapier/2022/03/08/surprise-the-us-is-still-energy-independent/?sh=64b60c4830b6
https://www.factcheck.org/2022/03/examining-u-s-energy-independence-claims/
Cato says we're not - and that's a good thing.
https://www.cato.org/commentary/actu...ats-good-thing
In short, with a global energy trade and imports and exports varying by the day/month/year, it's complicated.
Believe what you want, but in a world with global trade the Saudis and OPEC are always going to have some influence over oil supply and oil prices, so our best move is to stop using so much oil and produce our own renewable energy here in the US. Which will make us more energy independent and less reliant on the Saudis. I'm sure you're on board for that right?
Thanks for supporting American Energy Independence, and you have a great day as well!
Cross-Country
Joined: Feb 2021
Posts: 72
Likes: 13
Allen, We was oil independent, pumping it from our own country, Someone when they got in office shut down two major oil refinerys which made us not oil independent anymore. Instead of reopening those refinerys "our Country" is begging Saudi Arabia to produce more oil. .
https://www.bloomberg.com/news/articles/2022-05-26/white-house-eyes-idle-refineries-amid-effort-to-tame-fuel-prices
https://www.eenews.net/articles/why-bidens-refinery-push-may-run-into-trouble/
We did have some refining capacity taken offline while Trump was president, however that was done by the companies that owned and operated the refineries (not the government, not the president) and was due to collapsing demand for refined pertroleum products.
Instead of reopening those refinerys "our Country" is begging Saudi Arabia to produce more oil.
Prices are coming down because the president is releasing our oil reserves. That's all, have a nice day.
“The biggest driver of this dip is really the fact that investors are turning their attention to the possibility of a recession and how that could impact demand,” said Faisal A. Hersi, an energy analyst at Edward Jones.
https://www.nytimes.com/2022/08/04/b...ssion%20fears.
I've provided lots of sources, you've provided none to back up your claims. That is telling in and of itself. Good day to you sir!
ps - I'm sure you'll never believe any of this, but since it's a public forum I thought it best to point out the reality of how this stuff works rather than let your baseless claims stand unchallenged.
Tuned
Joined: Jan 2005
Posts: 433
Likes: 57
From: Bridgewater Ma
Can you provide a source to back up this claim? I can't seem to find anything that suggests Biden (assuming that's who you mean by "Someone") shut down refineries or even had the power to do so if he wanted to. I do see multiple sources reporting that he has been trying to get refinery companies to increase capacity. Here are a couple:
https://www.bloomberg.com/news/articles/2022-05-26/white-house-eyes-idle-refineries-amid-effort-to-tame-fuel-prices
https://www.eenews.net/articles/why-bidens-refinery-push-may-run-into-trouble/
We did have some refining capacity taken offline while Trump was president, however that was done by the companies that owned and operated the refineries (not the government, not the president) and was due to collapsing demand for refined pertroleum products.
I'd bet there were a lot more threats and/or bargaining involved than begging, but we can agree to disagree on that. However - the president does not have the power to reopen refineries that are owned and operated by, and were closed by private industry because they were no longer profitable. That would be either communism or socialism, is that what you are advocating? That the president should just take over the oil refineries and make them produce more gas and diesel at a loss?
Prices are coming down due to supply and demand, and releasing some of our oil reserves likely is responsible for only a very small part of the reduction. There are multiple other factors at play including a war, increased production worldwide, demand destruction due to high prices, recession fears, and other market-influencing factors. As much as you may want to blame the president's actions for the price going up or down, it just isn't that simple and it never has been.
“The biggest driver of this dip is really the fact that investors are turning their attention to the possibility of a recession and how that could impact demand,” said Faisal A. Hersi, an energy analyst at Edward Jones.
https://www.nytimes.com/2022/08/04/b...ssion%20fears.
I've provided lots of sources, you've provided none to back up your claims. That is telling in and of itself. Good day to you sir!
ps - I'm sure you'll never believe any of this, but since it's a public forum I thought it best to point out the reality of how this stuff works rather than let your baseless claims stand unchallenged.
https://www.bloomberg.com/news/articles/2022-05-26/white-house-eyes-idle-refineries-amid-effort-to-tame-fuel-prices
https://www.eenews.net/articles/why-bidens-refinery-push-may-run-into-trouble/
We did have some refining capacity taken offline while Trump was president, however that was done by the companies that owned and operated the refineries (not the government, not the president) and was due to collapsing demand for refined pertroleum products.
I'd bet there were a lot more threats and/or bargaining involved than begging, but we can agree to disagree on that. However - the president does not have the power to reopen refineries that are owned and operated by, and were closed by private industry because they were no longer profitable. That would be either communism or socialism, is that what you are advocating? That the president should just take over the oil refineries and make them produce more gas and diesel at a loss?
Prices are coming down due to supply and demand, and releasing some of our oil reserves likely is responsible for only a very small part of the reduction. There are multiple other factors at play including a war, increased production worldwide, demand destruction due to high prices, recession fears, and other market-influencing factors. As much as you may want to blame the president's actions for the price going up or down, it just isn't that simple and it never has been.
“The biggest driver of this dip is really the fact that investors are turning their attention to the possibility of a recession and how that could impact demand,” said Faisal A. Hersi, an energy analyst at Edward Jones.
https://www.nytimes.com/2022/08/04/b...ssion%20fears.
I've provided lots of sources, you've provided none to back up your claims. That is telling in and of itself. Good day to you sir!
ps - I'm sure you'll never believe any of this, but since it's a public forum I thought it best to point out the reality of how this stuff works rather than let your baseless claims stand unchallenged.
Tuned
Joined: Nov 2018
Posts: 398
Likes: 110
From: Southwest Montana & Idaho
$5.50 here and rising .10 a week on average. I suspect $7 bucks a gallon by March. Here is to 2 more years and more.
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Tuned
Joined: Jan 2005
Posts: 433
Likes: 57
From: Bridgewater Ma
My "Cheap" place that I drive 8 miles to just jumped to $5.99 a gallon for Diesel (Taunton Ma). Un Fracking believable! It's going to be a crazy Winter boys and girls! Boy good thing our President is on his "Climate Change" world tour!
Tuned
Joined: Nov 2018
Posts: 398
Likes: 110
From: Southwest Montana & Idaho
$5.79 and climbing again up here. Can't expect to shut the world down for more than a year, put small business out of business and bankrupt millions only to have a 'surge' then a retreat in the economy. Like I said Diesel will be $7 bucks a gallon within a few months. Waiting to see how that impacts food and other essentials. Glad we are prepared for this.
Cheers!
Cheers!
Laughing Gas
Joined: Jun 2014
Posts: 750
Likes: 94
From: Pagosa Springs CO.
misery loves company 💕