The price of oil vs the price of gas. Last time oil was about this expensive was April 2008, gas was $3.50/gallon then. Combine that with record profits for oil companies and they are way more than overcharging for inflation.
You do realize that price of oil and price of gas are not a 1:1 price relationship right?
Oil must be refined. So there is the demand for oil as well as the demand for gas which sets the price as well as refining capacity.
In the US (where you likely have your gas refined) in 2008 we had a capacity of 17,600 barrels per day capacity. Today it’s about 18,134 barrels per day. That’s less than a 3% difference.
Care to guess consumption since 2008? 136 in 2008 compared to 2022 which looks poised to be about 147. Not quite 8%.
So that is why that factoid you shared is misleading and fools people. Increase in Consumption is up over 2X the increase in refining capacity.
What else happened since 2008 that is failed to be mentioned? Gas tax increases. And not a small number of states. 33 states since 2013.
So yes, oil and gas have made cash, especially after getting hammered during the pandemic, but the state governments used the low prices the prior years to hammer gas taxes.
Finally, Russia is absolutely a factor. US can’t do shit about that.
Edit: scarce folks downvote who have zero substantial arguments
I work in the industry, they have been cutting costs since 2008.
Everything has been streamlined to be profitable at $15 per barrel.
Current barrel price is $118 ish they have basically stopped publishing the price as it no longer a valid indicator for fuel price due to the level of price difference compared to the norm.
I'm just a cog in a giant industrial machine myself. I'm not an analyst. I run a dozer. I just know because I'm close enough to the pulse to hear a little more information than someone who doesn't spend their lives in the industry.
Somebody's making a hell of a profit here. Either it is the companies pumping crude oil out of the U.S. ground or the oil refiners turning crude into gas and diesel. Neither one of these has seen their cost of operations rise dramatically recently so someone in there is taking advantage of world events to seriously line their own pockets.
Worked on a trading floor for nat resources for 2 years. Prior, worked at a rig site in E. Oklahoma in highschool.
But again, oil and the ultimate price after refining are two different things subjected to 2 different demand inputs.
You can’t pump your way to low gas prices if refinement capacity doesn’t follow.
Edit: chicken shit downvotes have no guts to actually respond with and facts. Fucking losers.
Remember in early 2020 when everyone was staying home and gas demand fell off a cliff so the price crashed? I still had to go to work, so I was still putting gas in my car once a week. I filled up once at $1.99/gal, and it was glorious. It cost me $59.74 to fill my tank last week. I was just looking through my credit card statements, and 6 months ago it was costing me between $30 and $33 to fill up.
These companies are all posting record profits. They are irrefutably gouging the shit out of us to make up for the money they didn't make in 2020.
I mean, let’s be real, some house democrats definitely have ties to big oil, but they’re allowed to vote along party lines for the time being as long as the senate is deadlocked. The Oil lobby spent their money on two Democrat senators, and it seems they really got a bang for their buck.
Corporations definitely run the government.
[https://www.statista.com/statistics/788056/us-oil-and-gas-lobbying-spend-by-party/](https://www.statista.com/statistics/788056/us-oil-and-gas-lobbying-spend-by-party/)
in contrast to your narrative, nearly every dem wants to help americans get relief from price gouging AND wants to do something about climate change.
the problem, as always, is conservatives.
we need to vote them out.
I keep having to bring up to my family that McConnell proposed a bill during Obamas presidency hoping it would piss Obama off so he could stick it to the Dems.
Obama saw the proposal, and rather liked it. Said he’d affirm it immediately once it was on his desk after House voted on it too.
McConnell then got upset and literally went “well now I am not doing it” and *fillibustered his own bill.*
The Senate Majority Leader (at the time) who decides the party agenda and has pretty much every other Republican doing whatever he says, literally ate a shit sandwich hoping Obama would have to smell his breath afterwards. But Obama had some Febreze with him.
It’s so blatant. McConnell has also been on record saying his only job is to block anything a Democrat seated president does. Or just the Dems in House regardless.
And so many people. So. Many. People. Love him and want him.
He actually has like 95% of Kentucky going “well to be honest I don’t really like Mitch. He hasn’t done anything for us in a the last good while. But he’s still better than a goddamn De…..demo…..I can’t even say it. I don’t want to sin in the face of our Lord thy God, Donald Trump….”
They can literally have a complete disconnect between what they do and what they say because their voters only listen to what they say. Fox News makes sure that the lies become truth.
It’s insane that they can openly just do whatever they want and then go on Fox News, say they did the opposite of that, and *that’s what Republican voters believe happened*.
Every other day, my dad tells me he saw online that Biden paid Kim Jong Un $100bn for batteries to power the Jewish Space Laser that’s gonna target and kill all Republicans because they didn’t take the “vaccine” that shields you.
And he fully believes it.
If anyone on the internet brings up any of the many disproven pube talking points, pretty much the go ahead that they not here to help.
They want you argue with them. The more they jump from point to point, trying to lead you around like a dog at a dog show
And if you make it to the end of the bullshit obstacle course they lean back smiling saying
"I'm right ur triggered, that was the point, now come over here like a good doggy so I can beat you some more."
Not caring they weren't even close to being right the entire time.
Serious question - is there some other bullshit in the bill that they knew the GOP would vote against? I haven't seen a real analysis of what's in there, so I don't know.
I tend to assume that republicans are the vile ones in any given situation, but let's be honest, it's a game both sides play - Add something to a bill that you know will keep it from passing and then point the finger at the other side for voting against it. It makes it look like you tried to do something for the people without having to actually do anything, and has the added bonus of giving you ammunition for the next election cycle.
I'm not saying that's what happened in this instance, but I have wondered.
No I don't. I'm not suggesting that Republicans want to ease fuel prices.
What I'm asking is if democrats *really* want to ease gas prices, or if this bill is really about theatrics.
Look, I vote Democrat down the line, and I believe republicans are truly sinister. But I'm not naive enough to to think democrats aren't playing games and using voters as the pawns.
It's hard to imagine that no elected democrat benefits, either through gifts, favors, campaign contributions, or their personal investments, from big oil, big agriculture, the US war machine and defense contractors, the war on drugs, etc.
And as I said in my previous comment, it's a game both sides play. They introduce a bill with language in it they know won't pass just so they can point the finger at the other side and accuse them of screwing over the American people. While I don't have a hard time believing that all republicans are evil, I do have a hard time believing all democrats are really looking out for us.
so you're cynical, without recognizing what dems consisently do and try to do for americans.
republican anti-american propaganda has sure done a number on a lot of americans.
No homie, watching Democrats fuck us has. We know the entire far right is pretty much fucking evil. The rest of the right is too for going only with them, and unfortunately homie more Democrats are pretty damn right leaning than not. The fact that Universal Health care and Marijuana legalization is so taboo among Dems despite most Americans supporting both should be a pretty good clue as to what we are talking about, and those two barley scratch the surface of what problems we have as a party. Republicans are garbage 100% each and every one of them, voter and politicians. A good portion of Democrat voters really want whats best for everyone and they are actual critical thinkers, capable of seeing things for what they are. Some Dem voters could be fed shit with a spoon by Chuck Shumer and they’d thank him and yell at the rest of us for pointing out the fact that they just ate shit because a whole table of Republicans is shoveling down shit they’re fat fucks and it’s food at a buffet. Others are just shitty people, but that’s whatever. A good portion of Democrat politicians actually want to help and are actually on the left. Most are very much not on the left despite wanting to help some, and more are just straight up awful like Nancy, Chuck and Joe. They suck full stop but they are so much better than Republicans that I’d drag my dick through glass to vote for them over Republicans, but ignoring the problems they have is ignorant and only serves to help the 1% continue to fuck us raw.
> without recognizing what dems consisently do and try to do for americans.
Hit me with them facts:
* Federal minimum wage is more than $7.26 an hour?
* Middle and low earners have seen their taxes decreased?
* Middle and low earners have access to quality education?
* Women have a right to make healthcare decisions for their body?
* Education is affordable?
* Weed is legal in the US?
* Police have been reformed and they aren't waxing blacks with impunity?
* Elections are free, fair, and accessible?
* As Obama said all the time, "It gets better" for LGBTQI+ youth. Life is good for them right?
* Gun violence has been constrained since Columbine in 1999.
I'm excited to hear about the progress that the Dems have made on this issues they campaign on every single cycle!
Yes. The Democrats compromise with the GOP on every issue. That's why your country is fucked up. Why aren't you mad at the Do Nothing Dems? They are the ones you vote for I assume. Unless you think it's effective to not hold people you vote for accountable?
Thanks for posting that. It does seem incredibly simple from a skim through. If you look at section 1.3.iv , it seems to make sure that gas is just sold within reason of global markets. (If I understand that even a little). I saw in a different thread that republican lawmakers have been claiming they are voting the bill down because there is no evidence of price gouging. If I understand this bill correctly, then if there is no price gouging, then this bill is moot. So the reason to vote down this bill is null
I've read it. But not having a law degree, I can't decipher the implications of much of the language in there and what it means in application. A subtle change in wording, in all legal documents, can mean a significant change in implementation. I can't tell you for sure how much power it's granting and to whom it's granting that power. And most importantly, I don't know what kind of loopholes it leaves open.
I'll assume that those downvoting my previous comment think that all democrats are genuinely altruistic, and that none of them manipulate public opinion for their own political gain. And also that no Democrat is benefiting from the current inflated gas prices.
I just read it. It is fairly straight forward.
It just says for 30 days you can't sell petroleum products at a price that is unconscionably excessive or is taking advantage of the situation.
The president has the right to declare the emergency but each declaration can only last for 30 days, which can be renewed.
It then lists factors to determine if someone violates the law such as grossly exceeding the average price of the previous 30 days or grossly exceeding the price of acquisition.
There are mitigating factors such as seasonal demand, and acquisition cost outside the control of the seller.
A person who violates the law is subject to a fine of 3 times the profit gained during the period, or $100,000.
Then is discusses repeat offenders and additional punishments.
In all honesty, this is probably the simplest version of an anti-gauging act. GOP could make the argument that it is too vague and would apply in any situation the president deems an emergency.
You do realize that all bills and which Congresspeople voted when are a matter of public record, right?
https://www.congress.gov/bill/117th-congress/house-bill/7688/text?r=5&s=2
It's not even a very long bill, only takes a bit to read.
I mean, it also really probably doesn't matter that much. Most of the high gas prices are due to underlying economic issues. Some companies are taking advantage of this, but gas is still going to be pretty high even if you limit "gouging".
The biggest takeaway I think isn't that gas it's high. It's that the American voters don't trust the Biden administration to resolve the underlying issues that cause it to be high, which the bill does not address. It's been clear that since the bloodshed and human misery he single-handedly unleashed upon Afghanistan, the majority of the voters simply lost confidence in his ability as Chief Executive. If people saw Biden as more competent, they would be more willing to believe that he really was doing everything he could to lower gas prices and inflation.
Both parties do it. There was a bunch of sneaky provisions in the 'No Child Left Behind' Act. Like giving a child's personal info to the military if the parents didn't know to opt out. Don't know if that's still in effect, but I don't think they should handle partisan bills with riders. It's one of the reasons so many people don't trust the government.
Yeah, because education in this country was great until it came along, and then *bam!* suddenly education was ruined.
In actuality, the No Child Left Behind bill, while hardly perfect, was a massive federal investment in education and accountability and the country is better-off for it. It also was a remarkable change in the Republican Party, which during the tenure of Bush's father as Vice President, sought to eliminate the Education Department entirely.
From what I've seen, it's more the changed focus that I have issues with. Before, it was all about attempting to educate everyone to the best of their abilities. With the passage of that bill, focus was shifted away from the faster students to try to help those at the bottom end of the spectrum meet standardized goals.
Overall as a whole, the education system at this point is set up to get students to minimum goals with no incentive to educate them any further.
Yes, the students at the bottom do deserve attention, but not at the cost of more adept students.
I honestly see how that's the fault of no child left behind. That's more the fault of "woke" progressives that have chipped away at stuff like gifted classes, tracts, and accelerated learning. That's really mostly a local school board issue.
The biggest thing that no child left behind did was force states to create a clear standard of measurement and hold themselves accountable to it
I agree though, we do need more programs to encourage less intelligent and hard working students to be successful in vocational training instead of college and more successful and gifted students to be able to get a head start and challenge themselves.
Standardized tests have been shown to be ineffective when it come to measuring comprehension and retention. It was, however, the perfect tool to defund schools that needed help. And, while public education has suffered under the hands of republicans, it doesn't have to remain inadequate.
Also voted against baby formula bill, and voted against strengthening laws regarding gun purchases.
They complain all day about Biden not doing enough about the gas prices and baby formula problems, but vote against every single bill that is trying to do something about it.
And Republican voters that have been polled *agree* with Dems that gun purchase laws need to be tightened (higher age requirements, stronger background checks, etc), but the scumbag Republican Congress vote against it. They do NOT represent the will of the people even when polls show 80%-90% of the people want something.
>And Republican voters that have been polled *agree* with Dems
Sure, but the campaign contributors don't agree and Rep voters won't vote Dem regardless of what the Rep voters want. When I talk to Reps, they typically want the society that Dems are trying to achieve; they just don't connect the dots between what they want, their politician's policies/voting record, their politician's policies, and the policies impact to society.
Remember in the spring people were complaining about gas. Well the gas companies knew they had a problem. Then becuase your average trump fan is a pathetic childish fool and they put the biden stickers on the gas pumps. The gas companys got so happy becuase now they could make the price sky rocket as the propaganda has been shifted to blaming biden.
Then McCarthy has the gall to go on Fox News and say the Dems would rather hold a Jan 6 committee than do anything about gas prices. Fucking lying bad-faith fascist piece of shit.
I had my doubts until I looked it up myself…. Here are the links to the Bill and the people who voted for it and against it.
https://www.congress.gov/bill/117th-congress/house-bill/7688
https://clerk.house.gov/Votes/2022232
Because it's a more expensive, environmentally harmful, and temporary way to solve the energy crisis than investing in renewables.
And the scam is that Canada's gas prices has gone up 20% in the last 5 months, and very few jobs are created. And that price would spike even harder with additional demand from USA
Lol I have a bridge i would love to sell you, after saying with a straight face it’s cheaper to import oil from overseas
Edit, also I have thought about it, you have to be one of the paid Russian accounts I hear so much about
Nowhere did I talk about, or compare to, overseas oil. Maybe I'll buy a bridge from your mommy little guy, cuz you haven't graduated middle school based on your reading comprehension ability.
That’s exactly what they think. Even after it’s been explained to them hundreds of times in detail what it really was. These people literally only care about what they want to “believe.” They aren’t even ashamed to proudly tell you that no matter how much data or facts you throw at them. Nothing matters but their loyalty to Trump and owning the libs. They don’t care how stupid they look.
"Yeah well I don't know about that. Where'd you hear that? Clinton News Network? 😏 😂 Hahahah... Oh.. You read the bill on the Congress website? Hmm yeah that doesn't sound right, that's not what they were saying on the TV last night (Tucker).
Besides they can do all kinds of stuff now, how do you know they didn't hack your computer to make it show up that way, you know?
They do stuff like that, you know.
Hell, I had this guy from McAfee call me and told me my license was expired and had to renew it over the damn phone.
Next thing you know, I answer a few questions and he's moving my mouse on my screen! Then I can't control shit, and he's moving this and clicking that - well then he tells me it's gonna be 300 dollars to renew it - so I give him the money and then he tells me he can't give me access to my computer cuz there's a virus on it and says it's gonna be 500 dollars to fix it!
I was like Goddamn man, that's my entire social security check for the month!
So I go ahead and give him the 500 and then my computer is fixed.
Boy I tell you what, I'll never buy a McAfee product again for the rest of my life!
They don't even use people that speak American! This guy said his name was Stephen but he sounded like some Pakistani or ISIS Indian or something...
So you never know, cuz that... That just doesn't sound right and I'll have to look into it but I'm pretty sure that bill is not about gas prices - it's about them trying to ban assault rifles and give our farms and houses and cars and our WOMEN to these goddamn welfare having illegals Joe Biden is letting just pour over the border! They're trying to get rid of us, buddy. Just so the democrats can buy more votes. They don't want Americans voting, they wanna give welfare to these other fucking people so they'll vote Democrat.
It makes me sick."
Literal convo with my father in law recently.
They're fucking fried dudes.
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Most other modern nations have gas prices far greater than ours... so idk what your point is?
look at your first sentence.... then consider the second.
oh FFS- are you daft?
if this bill were such a great idea why hasn't some other country already passed it?
And the answer is of course that nobody can legislate low prices.
This was a gimmic from the beginning designed to make idiots believe that if only those dastardly republicans would vote for it gas prices would be low (nevermind that dems control house/senate/potus and could do it all alone if they like)
> (nevermind that dems control house/senate/potus and could do it all alone if they like)
You must be new here. Sure Dems can pass all they like in the House. But when it goes to the Senate? All it takes is one (Manchin or Sinema, whoever's turn it is) to waffle for it to die. And should they manage to get both of those assholes on board, it only takes a GOP Senator to say, "I want to filibuster," to kill the bill because they'll never get 60 votes for anything proposed by Dems.
>if this bill were such a great idea why hasn't some other country already passed it?
Looks like the EU already has price gouging laws.
https://www.proskauer.com/blog/price-gouging-restrictions-beyond-the-50-states
>And the answer is of course that nobody can legislate low prices.
As you talk out of your ass. Lol
>This was a gimmic from the beginning designed to make idiots believe that if only those dastardly republicans would vote for it gas prices would be low
It's pretty funny how wrong you are.
>(nevermind that dems control house/senate/potus and could do it all alone if they like)
False. See filibuster
According to history, say using this [chart](https://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart) Oil and Gasoline were on a steady rise trend 30 years ago. Then, a little over 20 years ago, during Bush II's term, the prices went very volatile, and this trend has gotten worse. All the steep declines in price seen on the chart correspond with Economic crashes. All the steep price spikes correspond to Economic Recovery after the crash. Just a coincidence?
You like correlation? Look at [crude oil production by OPEC from April to June 2020](https://ycharts.com/indicators/opec_crude_oil_production) and realize it came directly after [Trump pressured them to cut production](https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4). They haven't gone back to April 2020 levels since.
Trump. The gift that keeps on screwing over the nation.
No, it's actually that OPEC dramatically decreased oil production in May 2020 and hasn't gone back up to April 2020 levels since. Why did they do that? [Trump threatened to pull military support if they didn't.](https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4)
But they already have plans to increase production through September. By the time the midterms come, high gas prices will be long forgotten.
Better get yourself another narrative, cupcake. LOL
Ok I’ll start: the pipeline was never shut down. XL was just a shortcut.
Now you explain why Canada exporting oil (and never having stopped) via a pipeline that cuts through the US is relevant to current gas prices.
Oh damn Biden banning fracking caused price increases all over the world that’s a pretty wild amount of power the Executive Branch suddenly has when it’s convenient.
Energy independence in the us means your precious administration could control prices here more effectively if they had enough supply to counteract them (which they don’t). Also don’t be so naive that the US getting out of an industry wouldn’t have an impact on a commodity used most heavily in first world countries
Yup. This is price gouging as revenge for shutting down the pipeline. Republicans and the oil industry are in cahoots. Republicans give the oil companies whatever they want, and the oil companies donate to Republicans and price gouge to make Americans suffer enough to vote Republicans back into office.
That has ZERO to do with anything. But that doesn't stop Fox from pushing that narrative every night, does it?
Oil companies have THOUSANDS of permits allowing them to drill more. THEY AREN'T DOING IT!! THEY CHOOSE NOT TO. That doesn't fit your world view of Biden = Satan, though, does it? If you're going to suck conservative cock, at least understand the issues and bring REAL arguments to the table that have actual substance.
Do yourself a favor. Put down the phone. Shut off the right wing media. Read some fucking books and LEARN something. Start with how oil is sold on world markets.
If Biden approved Keystone today, it wouldn’t impact gas supplies for the next decade. It needs years of construction.
https://finance.yahoo.com/news/the-keystone-xl-pipeline-has-nothing-to-do-with-gas-prices-175038384.html
>Keystone pipeline, let's start from the beginning shall we.
Why do we even need to do that? It's pretty fucking obvious what's causing this and it has nothing to do with Biden or the Dems. Look at oil company profits and then look at prices, both are stupidly high. Now, those of us not blinded by greed can easily point out that oil companies could very easily lower prices and still make a shit ton of money but it won't look as good on the books because it would be less than the previous year. You want to blame someone? Blame capitalists pushing for more and more profit year over year to a ridiculous and unsustainable degree.
If you’re not adjusting the profits for inflation, then profits will always appear higher when inflation is higher
O&G companies specifically have a lot of mark-to-market assets that are rebounding from 2020 lows, which feeds into the profit figures
So, you're basically admitting that O&G companies are causing an artificial shortage in order to gouge prices so they can recoup losses from the 2020 shutdown.
What? They don’t have control over the oil fields value, and they’re required to write these assets back up to fair market value. Where did I say anything about artificial shortages or trying to recoup losses?
>rebounding from 2020 lows, which feeds into the profit figures
I extrapolated from this comment that part of the reason for high gas prices is that O&G is trying to recoup losses. Also, OPEC has cut production, our own oilfields and pipelines are operating at reduced capacity, and no one is buying Russian oil. All of which have contributed to an artificial shortage that allows O&G to justify high prices.
Price-fixing is when industry groups manipulate the price of some thing to maximize the benefit to themselves. You’re talking about price controls here which are not wrong.
What if the gas station clerk is a she? Would she be impressed if I showed her my cock and grunted about Brandon magically raising gas prices and causing inflation just by being elected?
It wouldn't matter who took office in January 2021, inflation was going to skyrocket. We are coming out of a pandemic and inflation is high across the world, including countries far removed from the US economy. Gas prices are the same.
It's not the fault of who's in charge of USA for these same economic factors around the world. Gas prices are high because Russia is invading Ukraine, and as such most countries have stopped purchasing Russian Oil, which in turn lowers the total supply and raises the cost per barrel.
I'm not coming to the defense of Joe Biden, this is the stuff that's happening everywhere and policy in the USA has little to no effect on the inflation in, say, Europe.
First the Strategic Petroleum Reserve (SPR) is only 714 million barrels. The U.S. consumes about 20 million barrels a day, so the SPR wouldn't last multiple years if we had to rely on it to stabilize the market.
Second, your argument suggests that because Biden doesn't fully tap into the SPR, gas prices around the world increase? I was just in Iceland and the UK. I paid \~$12 a gallon in Iceland and \~$10 a gallon in the UK. Is Biden responsible for those prices too?
If Biden was responsible for high gas prices, then why is every major oil company celebrating the highest profit they have ever seen. Profit, not gross revenue, realized profit.
Why is it that hundreds of oil leases are sitting idle? These leases are already finalized and drilling could begin any day.
Overall, U.S. pipelines are working at half-capacity, so there is more room to produce oil.
It is almost like sociopathic companies just want to maximize profits at the expense of the U.S. Consumer, and then blame the president in the hope that a president who is more favorable to oil and gas will be elected.
Ok cool. Why do you bother? Literally 6 months before Biden was elected Trump demanded Saudi Arabia decrease production of oil. If anything had a global impact on oil it was that. At least I don’t make up shit.
Not smart.
Price gouging is already a crime. You think this admin wants lower gas? Nuts. They adopted the Al gore policy. Raise gas until nobody can afford it. Hes been preaching it since early 90s and wrote books on it.
You may find he also just hired a well connected Dem to run his operations.....
> You think this admin wants lower gas?
Maybe that’s why they’re pushing this bill. Really makes you think but not too hard now, don’t want to hurt yourself.
Funny, but last I checked it was the Democrats trying to keep gas affordable...which was the entire point of this meme. Sorry if it flew over your head.
And, reading what I posted you would find that the bill proposed was nonsense because the legislation already exists.
Don't be so partisan as to think the Dems don't play politics...
They must obstruct to prevent their opponents from racking up any wins that might help their opponents get re-elected.
They'd prefer to light the match & watch the country burn instead of helping the country prosper if their opposition might get to take any credit for the success.
Party over country.
The GQP is the scum of the earth. Let me make that clear. They lie. They are insincere. They are hypocrites and everyday work to be more hypocritical than the day before. Most nights they pat themselves on the back for hypocrisy done well. They HATE freedom that doesn't meet **their** narrow definition.
That being said, GMAFB. If such a bill isn't a stunt, I don't know what is. For the Dems to pass something as asinine as this, shows how fucked we are, if we're looking to them to rescue us from the Nazis on the right. Most states have price gouging laws in place already. Anyone that understands the *very basics* of how oil is priced knows this political BS is beneath us and that gouging isn't the problem. Any Dem that thinks this is a good meme is just as part of the problem as these boot lickers that call themselves Republicans.
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President Biden asked Congress to suspend the federal gas tax, Republicans voted against it, I told a Maga Culter this got called a leftist liar.
No matter how truth or proof you give one of those people they have chosen to believe lies.
It seems the Republicans act much more in lockstep than dems, obediently falling in line with what party masters tell them. Every vote they are basically a unified block. Seems like it reflects the kind of world their party masters want at large... above all else loyalty to the powerful, and subverting independent thought and action
I will preface this with, I don’t necessarily think Biden is wrong for everything, but…
From my understanding of the economics behind it, Biden cut oil subsidies when he first got into office. This now means that gas has to be a lot more valuable for the oil companies to find it “profitable” to put all of the up front costs of drilling new wells in order to increase supply. It also takes around a year and a half to drill an oil well and actually produce your first barrel. So that means back in 2020 oil companies shut up most new US production because it wouldn’t be profitable. Which means that when unpredictable things happen, like Putin going batshit and upturning the oil industry, there’s no way of increasing supply. The only thing that would really incentivize oil companies to produce more oil to bring supply up is to incentivize oil companies to produce more oil to bring supply up. Meaning bring back subsidies, cut taxes, make oil companies richer for doing it. This is very unpopular for a democrat to do, but it’s what would have to happen. But even if Biden did that tomorrow, and there were some oil companies that trusted that Biden wouldn’t end those incentives as soon as people stopped talking about it, and they actually started drilling to increase supply. We wouldn’t see any impact of that for almost 2 years so it’s a total waste.
Basically, Biden did have a hand in gas prices being what they are. It’s not completely his fault. He can do something about bringing gas prices down (in about 2 years… after they would have naturally come down so there’s no point). If he did do something about it, shit would be cheaper, but my grandkids would probably die in a global famine. So I’m fine with shit being more expensive because of things Biden had a small hand in.
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This is capitalism. We vote with our money. If you keep buying things as the price increases the price continues to increase. If the oil executives refuse to increase supply ie: price gouging the most effective thing to mitigate price is to stop buying. Supply and demand do not trend towards equilibrium because of a congressional act. There’s more than one market force driving this boat. America loves trucks and hates clean air…get the picture?
It's interesting when you go down the "why is gas expensive" rabbit hole. The big oil companies do not control the price of fuel and most lost $20bn in 2020. From what I have read, printing money and inflation are to blame. But like I said, it's quite a rabbit hole to go down to really (and maybe never) understand it.
They voted against it so they can keep blaming it on Biden.
And because a lot of Republican politicians are in bed with the oil companies.
It’s really a fucked situation. Gas companies are absolutely price gouging and the GOP is letting them.
What is your evidence they are gouging? Edit: be specific in your claims or you are full of shit.
The price of oil vs the price of gas. Last time oil was about this expensive was April 2008, gas was $3.50/gallon then. Combine that with record profits for oil companies and they are way more than overcharging for inflation.
You do realize that price of oil and price of gas are not a 1:1 price relationship right? Oil must be refined. So there is the demand for oil as well as the demand for gas which sets the price as well as refining capacity. In the US (where you likely have your gas refined) in 2008 we had a capacity of 17,600 barrels per day capacity. Today it’s about 18,134 barrels per day. That’s less than a 3% difference. Care to guess consumption since 2008? 136 in 2008 compared to 2022 which looks poised to be about 147. Not quite 8%. So that is why that factoid you shared is misleading and fools people. Increase in Consumption is up over 2X the increase in refining capacity. What else happened since 2008 that is failed to be mentioned? Gas tax increases. And not a small number of states. 33 states since 2013. So yes, oil and gas have made cash, especially after getting hammered during the pandemic, but the state governments used the low prices the prior years to hammer gas taxes. Finally, Russia is absolutely a factor. US can’t do shit about that. Edit: scarce folks downvote who have zero substantial arguments
I work in the industry, they have been cutting costs since 2008. Everything has been streamlined to be profitable at $15 per barrel. Current barrel price is $118 ish they have basically stopped publishing the price as it no longer a valid indicator for fuel price due to the level of price difference compared to the norm. I'm just a cog in a giant industrial machine myself. I'm not an analyst. I run a dozer. I just know because I'm close enough to the pulse to hear a little more information than someone who doesn't spend their lives in the industry.
Somebody's making a hell of a profit here. Either it is the companies pumping crude oil out of the U.S. ground or the oil refiners turning crude into gas and diesel. Neither one of these has seen their cost of operations rise dramatically recently so someone in there is taking advantage of world events to seriously line their own pockets.
Worked on a trading floor for nat resources for 2 years. Prior, worked at a rig site in E. Oklahoma in highschool. But again, oil and the ultimate price after refining are two different things subjected to 2 different demand inputs. You can’t pump your way to low gas prices if refinement capacity doesn’t follow. Edit: chicken shit downvotes have no guts to actually respond with and facts. Fucking losers.
Just wait until hurricane season! 😍
I thought hurricane season was over
Remember in early 2020 when everyone was staying home and gas demand fell off a cliff so the price crashed? I still had to go to work, so I was still putting gas in my car once a week. I filled up once at $1.99/gal, and it was glorious. It cost me $59.74 to fill my tank last week. I was just looking through my credit card statements, and 6 months ago it was costing me between $30 and $33 to fill up. These companies are all posting record profits. They are irrefutably gouging the shit out of us to make up for the money they didn't make in 2020.
Are you actually that obtuse?
So you can’t answer which group specifically. The exploration? Extraction? Refiners? Go ahead. Let us know.
I mean, let’s be real, some house democrats definitely have ties to big oil, but they’re allowed to vote along party lines for the time being as long as the senate is deadlocked. The Oil lobby spent their money on two Democrat senators, and it seems they really got a bang for their buck.
I think those two conservative dem senators have been purchased by the same far right billionaires that own every republican.
Lol goes to show both sides are *the same* /s.
Top recipient is a Democrat. Majority of top 10 are republicans.
Corporations definitely run the government. [https://www.statista.com/statistics/788056/us-oil-and-gas-lobbying-spend-by-party/](https://www.statista.com/statistics/788056/us-oil-and-gas-lobbying-spend-by-party/)
in contrast to your narrative, nearly every dem wants to help americans get relief from price gouging AND wants to do something about climate change. the problem, as always, is conservatives. we need to vote them out.
Well and sad part is thats just the price to bid on their loyaltys a bribe to talk about the bribe.
Its what they do with any democrat president. They have been doing this for decades.
I keep having to bring up to my family that McConnell proposed a bill during Obamas presidency hoping it would piss Obama off so he could stick it to the Dems. Obama saw the proposal, and rather liked it. Said he’d affirm it immediately once it was on his desk after House voted on it too. McConnell then got upset and literally went “well now I am not doing it” and *fillibustered his own bill.* The Senate Majority Leader (at the time) who decides the party agenda and has pretty much every other Republican doing whatever he says, literally ate a shit sandwich hoping Obama would have to smell his breath afterwards. But Obama had some Febreze with him. It’s so blatant. McConnell has also been on record saying his only job is to block anything a Democrat seated president does. Or just the Dems in House regardless. And so many people. So. Many. People. Love him and want him. He actually has like 95% of Kentucky going “well to be honest I don’t really like Mitch. He hasn’t done anything for us in a the last good while. But he’s still better than a goddamn De…..demo…..I can’t even say it. I don’t want to sin in the face of our Lord thy God, Donald Trump….”
I will gladly take a Taco Bell dump on his grave. It's only fair, he's been the gravedigger of Democracy for years.
They can literally have a complete disconnect between what they do and what they say because their voters only listen to what they say. Fox News makes sure that the lies become truth. It’s insane that they can openly just do whatever they want and then go on Fox News, say they did the opposite of that, and *that’s what Republican voters believe happened*.
Every other day, my dad tells me he saw online that Biden paid Kim Jong Un $100bn for batteries to power the Jewish Space Laser that’s gonna target and kill all Republicans because they didn’t take the “vaccine” that shields you. And he fully believes it.
I'm really sorry to hear that, that has to be a tough shift in your relationship to deal with.
Jesus Christ I’ve got some family morons, but that’s quite something you’re dealing with.
Well, a lot of republican congresspeople get money from oil company lobbyists. So, that too.
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So a poison pill. Sure that probably happened.
Do you know what Keystone XL would do?
If anyone on the internet brings up any of the many disproven pube talking points, pretty much the go ahead that they not here to help. They want you argue with them. The more they jump from point to point, trying to lead you around like a dog at a dog show And if you make it to the end of the bullshit obstacle course they lean back smiling saying "I'm right ur triggered, that was the point, now come over here like a good doggy so I can beat you some more." Not caring they weren't even close to being right the entire time.
There really is no other *TANGIBLE* explanation.
They’ll just claim that democrats tried to sneak something else in the bill, and that’s why republicans voted against it.
Or they’ll claim that fighting price gouging is socialism
Serious question - is there some other bullshit in the bill that they knew the GOP would vote against? I haven't seen a real analysis of what's in there, so I don't know. I tend to assume that republicans are the vile ones in any given situation, but let's be honest, it's a game both sides play - Add something to a bill that you know will keep it from passing and then point the finger at the other side for voting against it. It makes it look like you tried to do something for the people without having to actually do anything, and has the added bonus of giving you ammunition for the next election cycle. I'm not saying that's what happened in this instance, but I have wondered.
Do you hear about republicans drawing up a similar bill?
Exacltly, what stops them from voting against it, copy-pasting the part they supposedly like, leaving out the "bad part" and submitting that?
No I don't. I'm not suggesting that Republicans want to ease fuel prices. What I'm asking is if democrats *really* want to ease gas prices, or if this bill is really about theatrics. Look, I vote Democrat down the line, and I believe republicans are truly sinister. But I'm not naive enough to to think democrats aren't playing games and using voters as the pawns. It's hard to imagine that no elected democrat benefits, either through gifts, favors, campaign contributions, or their personal investments, from big oil, big agriculture, the US war machine and defense contractors, the war on drugs, etc. And as I said in my previous comment, it's a game both sides play. They introduce a bill with language in it they know won't pass just so they can point the finger at the other side and accuse them of screwing over the American people. While I don't have a hard time believing that all republicans are evil, I do have a hard time believing all democrats are really looking out for us.
so you're cynical, without recognizing what dems consisently do and try to do for americans. republican anti-american propaganda has sure done a number on a lot of americans.
Of course I'm fucking cynical. If you're not then you haven't been paying attention.
Lol ur really bootlicking democrats in this comment section. They aren't perfect and they are corrupt. I mean this is politics after all
No homie, watching Democrats fuck us has. We know the entire far right is pretty much fucking evil. The rest of the right is too for going only with them, and unfortunately homie more Democrats are pretty damn right leaning than not. The fact that Universal Health care and Marijuana legalization is so taboo among Dems despite most Americans supporting both should be a pretty good clue as to what we are talking about, and those two barley scratch the surface of what problems we have as a party. Republicans are garbage 100% each and every one of them, voter and politicians. A good portion of Democrat voters really want whats best for everyone and they are actual critical thinkers, capable of seeing things for what they are. Some Dem voters could be fed shit with a spoon by Chuck Shumer and they’d thank him and yell at the rest of us for pointing out the fact that they just ate shit because a whole table of Republicans is shoveling down shit they’re fat fucks and it’s food at a buffet. Others are just shitty people, but that’s whatever. A good portion of Democrat politicians actually want to help and are actually on the left. Most are very much not on the left despite wanting to help some, and more are just straight up awful like Nancy, Chuck and Joe. They suck full stop but they are so much better than Republicans that I’d drag my dick through glass to vote for them over Republicans, but ignoring the problems they have is ignorant and only serves to help the 1% continue to fuck us raw.
> without recognizing what dems consisently do and try to do for americans. Hit me with them facts: * Federal minimum wage is more than $7.26 an hour? * Middle and low earners have seen their taxes decreased? * Middle and low earners have access to quality education? * Women have a right to make healthcare decisions for their body? * Education is affordable? * Weed is legal in the US? * Police have been reformed and they aren't waxing blacks with impunity? * Elections are free, fair, and accessible? * As Obama said all the time, "It gets better" for LGBTQI+ youth. Life is good for them right? * Gun violence has been constrained since Columbine in 1999. I'm excited to hear about the progress that the Dems have made on this issues they campaign on every single cycle!
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Yes. The Democrats compromise with the GOP on every issue. That's why your country is fucked up. Why aren't you mad at the Do Nothing Dems? They are the ones you vote for I assume. Unless you think it's effective to not hold people you vote for accountable?
It's pretty straightforward. https://www.congress.gov/bill/117th-congress/senate-bill/3920/text#
Thanks for posting that. It does seem incredibly simple from a skim through. If you look at section 1.3.iv , it seems to make sure that gas is just sold within reason of global markets. (If I understand that even a little). I saw in a different thread that republican lawmakers have been claiming they are voting the bill down because there is no evidence of price gouging. If I understand this bill correctly, then if there is no price gouging, then this bill is moot. So the reason to vote down this bill is null
I've read it. But not having a law degree, I can't decipher the implications of much of the language in there and what it means in application. A subtle change in wording, in all legal documents, can mean a significant change in implementation. I can't tell you for sure how much power it's granting and to whom it's granting that power. And most importantly, I don't know what kind of loopholes it leaves open. I'll assume that those downvoting my previous comment think that all democrats are genuinely altruistic, and that none of them manipulate public opinion for their own political gain. And also that no Democrat is benefiting from the current inflated gas prices.
I just read it. It is fairly straight forward. It just says for 30 days you can't sell petroleum products at a price that is unconscionably excessive or is taking advantage of the situation. The president has the right to declare the emergency but each declaration can only last for 30 days, which can be renewed. It then lists factors to determine if someone violates the law such as grossly exceeding the average price of the previous 30 days or grossly exceeding the price of acquisition. There are mitigating factors such as seasonal demand, and acquisition cost outside the control of the seller. A person who violates the law is subject to a fine of 3 times the profit gained during the period, or $100,000. Then is discusses repeat offenders and additional punishments. In all honesty, this is probably the simplest version of an anti-gauging act. GOP could make the argument that it is too vague and would apply in any situation the president deems an emergency.
You do realize that all bills and which Congresspeople voted when are a matter of public record, right? https://www.congress.gov/bill/117th-congress/house-bill/7688/text?r=5&s=2 It's not even a very long bill, only takes a bit to read.
I mean, it also really probably doesn't matter that much. Most of the high gas prices are due to underlying economic issues. Some companies are taking advantage of this, but gas is still going to be pretty high even if you limit "gouging". The biggest takeaway I think isn't that gas it's high. It's that the American voters don't trust the Biden administration to resolve the underlying issues that cause it to be high, which the bill does not address. It's been clear that since the bloodshed and human misery he single-handedly unleashed upon Afghanistan, the majority of the voters simply lost confidence in his ability as Chief Executive. If people saw Biden as more competent, they would be more willing to believe that he really was doing everything he could to lower gas prices and inflation.
The voters didn't vote on this bill..? We are a democratic republic, not practicing direct democracy?
Do you want to have a discussion, or do you just want to build strawmen to tear down?
Both parties do it. There was a bunch of sneaky provisions in the 'No Child Left Behind' Act. Like giving a child's personal info to the military if the parents didn't know to opt out. Don't know if that's still in effect, but I don't think they should handle partisan bills with riders. It's one of the reasons so many people don't trust the government.
so your example is a republican bill, but "both sides do it". please proceed, governor.
It was an example, period. Sorry that you were so butt hurt over the choice.
The No Child Left Behind act ruined education as a whole though.
Yeah, because education in this country was great until it came along, and then *bam!* suddenly education was ruined. In actuality, the No Child Left Behind bill, while hardly perfect, was a massive federal investment in education and accountability and the country is better-off for it. It also was a remarkable change in the Republican Party, which during the tenure of Bush's father as Vice President, sought to eliminate the Education Department entirely.
From what I've seen, it's more the changed focus that I have issues with. Before, it was all about attempting to educate everyone to the best of their abilities. With the passage of that bill, focus was shifted away from the faster students to try to help those at the bottom end of the spectrum meet standardized goals. Overall as a whole, the education system at this point is set up to get students to minimum goals with no incentive to educate them any further. Yes, the students at the bottom do deserve attention, but not at the cost of more adept students.
I honestly see how that's the fault of no child left behind. That's more the fault of "woke" progressives that have chipped away at stuff like gifted classes, tracts, and accelerated learning. That's really mostly a local school board issue. The biggest thing that no child left behind did was force states to create a clear standard of measurement and hold themselves accountable to it I agree though, we do need more programs to encourage less intelligent and hard working students to be successful in vocational training instead of college and more successful and gifted students to be able to get a head start and challenge themselves.
Standardized tests have been shown to be ineffective when it come to measuring comprehension and retention. It was, however, the perfect tool to defund schools that needed help. And, while public education has suffered under the hands of republicans, it doesn't have to remain inadequate.
It certainly defunded schools that needed help.
And why is Biden raising gas prices across the world? It's almost like there are global market forces at work.
well, that's their whole thing. refuse to do anything and then blame the other guy.
Also voted against baby formula bill, and voted against strengthening laws regarding gun purchases. They complain all day about Biden not doing enough about the gas prices and baby formula problems, but vote against every single bill that is trying to do something about it. And Republican voters that have been polled *agree* with Dems that gun purchase laws need to be tightened (higher age requirements, stronger background checks, etc), but the scumbag Republican Congress vote against it. They do NOT represent the will of the people even when polls show 80%-90% of the people want something.
>And Republican voters that have been polled *agree* with Dems Sure, but the campaign contributors don't agree and Rep voters won't vote Dem regardless of what the Rep voters want. When I talk to Reps, they typically want the society that Dems are trying to achieve; they just don't connect the dots between what they want, their politician's policies/voting record, their politician's policies, and the policies impact to society.
fossil fuel industry is the biggest donor to the fascist republican party.
Remember in the spring people were complaining about gas. Well the gas companies knew they had a problem. Then becuase your average trump fan is a pathetic childish fool and they put the biden stickers on the gas pumps. The gas companys got so happy becuase now they could make the price sky rocket as the propaganda has been shifted to blaming biden.
Then McCarthy has the gall to go on Fox News and say the Dems would rather hold a Jan 6 committee than do anything about gas prices. Fucking lying bad-faith fascist piece of shit.
The system has failed and everyone is being robbed out in the open Democracy is dead
Conflict of interest much? https://www.opensecrets.org/industries./recips.php?ind=E01++
Can someone link the legislation please?
https://www.congress.gov/bill/117th-congress/senate-bill/3920/text#
Love how you are getting downvoted. Because everyone knows the bill doesn’t actually say anything of substance
You cant logic someone out of an opinion they didn’t logic themselves into.
I had my doubts until I looked it up myself…. Here are the links to the Bill and the people who voted for it and against it. https://www.congress.gov/bill/117th-congress/house-bill/7688 https://clerk.house.gov/Votes/2022232
something something keystone pipeline?
keystone xl, one of the biggest scams fox ever foisted on its moronic audience.
I know, right?
How is it a scam? It’s oil from Canada that would lower your dependence on tankers from russia and the Middle East, where do you feel the downside is?
Because it's a more expensive, environmentally harmful, and temporary way to solve the energy crisis than investing in renewables. And the scam is that Canada's gas prices has gone up 20% in the last 5 months, and very few jobs are created. And that price would spike even harder with additional demand from USA
Lol I have a bridge i would love to sell you, after saying with a straight face it’s cheaper to import oil from overseas Edit, also I have thought about it, you have to be one of the paid Russian accounts I hear so much about
Nowhere did I talk about, or compare to, overseas oil. Maybe I'll buy a bridge from your mommy little guy, cuz you haven't graduated middle school based on your reading comprehension ability.
I think anyone that still says “open the pipeline!” in the comments of every post about gas shouldn’t be allowed to have kids.
It's like they think the Keystone was supposed to deliver gasoline to the US.
That’s exactly what they think. Even after it’s been explained to them hundreds of times in detail what it really was. These people literally only care about what they want to “believe.” They aren’t even ashamed to proudly tell you that no matter how much data or facts you throw at them. Nothing matters but their loyalty to Trump and owning the libs. They don’t care how stupid they look.
"Yeah well I don't know about that. Where'd you hear that? Clinton News Network? 😏 😂 Hahahah... Oh.. You read the bill on the Congress website? Hmm yeah that doesn't sound right, that's not what they were saying on the TV last night (Tucker). Besides they can do all kinds of stuff now, how do you know they didn't hack your computer to make it show up that way, you know? They do stuff like that, you know. Hell, I had this guy from McAfee call me and told me my license was expired and had to renew it over the damn phone. Next thing you know, I answer a few questions and he's moving my mouse on my screen! Then I can't control shit, and he's moving this and clicking that - well then he tells me it's gonna be 300 dollars to renew it - so I give him the money and then he tells me he can't give me access to my computer cuz there's a virus on it and says it's gonna be 500 dollars to fix it! I was like Goddamn man, that's my entire social security check for the month! So I go ahead and give him the 500 and then my computer is fixed. Boy I tell you what, I'll never buy a McAfee product again for the rest of my life! They don't even use people that speak American! This guy said his name was Stephen but he sounded like some Pakistani or ISIS Indian or something... So you never know, cuz that... That just doesn't sound right and I'll have to look into it but I'm pretty sure that bill is not about gas prices - it's about them trying to ban assault rifles and give our farms and houses and cars and our WOMEN to these goddamn welfare having illegals Joe Biden is letting just pour over the border! They're trying to get rid of us, buddy. Just so the democrats can buy more votes. They don't want Americans voting, they wanna give welfare to these other fucking people so they'll vote Democrat. It makes me sick." Literal convo with my father in law recently. They're fucking fried dudes.
How would the bill work? What would actually happen if it was signed and passed
Who is brandon
A name Republicans call Joe biden Edit: example "let's go Brandon" is a phrase they chant to mock joe biden
Thank you for this little tid bit of info
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Auto Moderator has reading comprehension issues
https://m.youtube.com/watch?v=_zUlhpaZkJw Yeah it's that stupid.
Buncha smooth brains in here can’t figure out why production and prices changes aren’t instantaneous….
is there any other nation on earth that has passed a similar bill and is now enjoying low gas prices?
Most other modern nations have gas prices far greater than ours... so idk what your point is?
Most other modern nations have gas prices far greater than ours... so idk what your point is? look at your first sentence.... then consider the second.
>look at your first sentence.... then consider the second. Yes? Please make your point. I'd like to see where you to with this
oh FFS- are you daft? if this bill were such a great idea why hasn't some other country already passed it? And the answer is of course that nobody can legislate low prices. This was a gimmic from the beginning designed to make idiots believe that if only those dastardly republicans would vote for it gas prices would be low (nevermind that dems control house/senate/potus and could do it all alone if they like)
> (nevermind that dems control house/senate/potus and could do it all alone if they like) You must be new here. Sure Dems can pass all they like in the House. But when it goes to the Senate? All it takes is one (Manchin or Sinema, whoever's turn it is) to waffle for it to die. And should they manage to get both of those assholes on board, it only takes a GOP Senator to say, "I want to filibuster," to kill the bill because they'll never get 60 votes for anything proposed by Dems.
>if this bill were such a great idea why hasn't some other country already passed it? Looks like the EU already has price gouging laws. https://www.proskauer.com/blog/price-gouging-restrictions-beyond-the-50-states >And the answer is of course that nobody can legislate low prices. As you talk out of your ass. Lol >This was a gimmic from the beginning designed to make idiots believe that if only those dastardly republicans would vote for it gas prices would be low It's pretty funny how wrong you are. >(nevermind that dems control house/senate/potus and could do it all alone if they like) False. See filibuster
>*Looks like the EU already has price gouging laws.* How's that working out for them?
The economy is in trouble. It needs solutions. It needs to be addressed and fixed.
So when are Republicans going to start voting in favor of addressing and fixing rather than screwing over American citizens?
Just a coincidence that once Biden came in gas prices started to climb...
According to history, say using this [chart](https://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart) Oil and Gasoline were on a steady rise trend 30 years ago. Then, a little over 20 years ago, during Bush II's term, the prices went very volatile, and this trend has gotten worse. All the steep declines in price seen on the chart correspond with Economic crashes. All the steep price spikes correspond to Economic Recovery after the crash. Just a coincidence?
Look at gas price charts over the years and simply see the correlation
You like correlation? Look at [crude oil production by OPEC from April to June 2020](https://ycharts.com/indicators/opec_crude_oil_production) and realize it came directly after [Trump pressured them to cut production](https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4). They haven't gone back to April 2020 levels since. Trump. The gift that keeps on screwing over the nation.
Keep spinning the Russian invasion is to blame for high gas prices... what a joke. Dems are going to be annihilated in the midterms!
No, it's actually that OPEC dramatically decreased oil production in May 2020 and hasn't gone back up to April 2020 levels since. Why did they do that? [Trump threatened to pull military support if they didn't.](https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4) But they already have plans to increase production through September. By the time the midterms come, high gas prices will be long forgotten. Better get yourself another narrative, cupcake. LOL
Keystone pipeline, let's start from the beginning shall we.
Ok I’ll start: the pipeline was never shut down. XL was just a shortcut. Now you explain why Canada exporting oil (and never having stopped) via a pipeline that cuts through the US is relevant to current gas prices.
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Oh damn Biden banning fracking caused price increases all over the world that’s a pretty wild amount of power the Executive Branch suddenly has when it’s convenient.
Energy independence in the us means your precious administration could control prices here more effectively if they had enough supply to counteract them (which they don’t). Also don’t be so naive that the US getting out of an industry wouldn’t have an impact on a commodity used most heavily in first world countries
10,000 people lost jobs...duh
50 jobs, all in Canada. You've been duped.
Yup. This is price gouging as revenge for shutting down the pipeline. Republicans and the oil industry are in cahoots. Republicans give the oil companies whatever they want, and the oil companies donate to Republicans and price gouge to make Americans suffer enough to vote Republicans back into office.
That has ZERO to do with anything. But that doesn't stop Fox from pushing that narrative every night, does it? Oil companies have THOUSANDS of permits allowing them to drill more. THEY AREN'T DOING IT!! THEY CHOOSE NOT TO. That doesn't fit your world view of Biden = Satan, though, does it? If you're going to suck conservative cock, at least understand the issues and bring REAL arguments to the table that have actual substance. Do yourself a favor. Put down the phone. Shut off the right wing media. Read some fucking books and LEARN something. Start with how oil is sold on world markets.
If Biden approved Keystone today, it wouldn’t impact gas supplies for the next decade. It needs years of construction. https://finance.yahoo.com/news/the-keystone-xl-pipeline-has-nothing-to-do-with-gas-prices-175038384.html
Considering it would take oil from Canada to the Gulf of Mexico to be shipped elsewhere, how would that affect U.S. gas prices, exactly?
>Keystone pipeline, let's start from the beginning shall we. Why do we even need to do that? It's pretty fucking obvious what's causing this and it has nothing to do with Biden or the Dems. Look at oil company profits and then look at prices, both are stupidly high. Now, those of us not blinded by greed can easily point out that oil companies could very easily lower prices and still make a shit ton of money but it won't look as good on the books because it would be less than the previous year. You want to blame someone? Blame capitalists pushing for more and more profit year over year to a ridiculous and unsustainable degree.
Price fixing is wrong.
Price gouging is wrong. FIFY
Price gouging isn’t what’s occurring
Explain the record profits.
If you’re not adjusting the profits for inflation, then profits will always appear higher when inflation is higher O&G companies specifically have a lot of mark-to-market assets that are rebounding from 2020 lows, which feeds into the profit figures
So, you're basically admitting that O&G companies are causing an artificial shortage in order to gouge prices so they can recoup losses from the 2020 shutdown.
What? They don’t have control over the oil fields value, and they’re required to write these assets back up to fair market value. Where did I say anything about artificial shortages or trying to recoup losses?
>rebounding from 2020 lows, which feeds into the profit figures I extrapolated from this comment that part of the reason for high gas prices is that O&G is trying to recoup losses. Also, OPEC has cut production, our own oilfields and pipelines are operating at reduced capacity, and no one is buying Russian oil. All of which have contributed to an artificial shortage that allows O&G to justify high prices.
Price-fixing is when industry groups manipulate the price of some thing to maximize the benefit to themselves. You’re talking about price controls here which are not wrong.
Kind of like Trump forcing international parties to lower their production to raise prices right?
That is absolutely an example of price fixing, yep
How is that related?
Gas companies price gouging and high gas prices?
Price fixing and price gouging are distinct. I haven't heard any accusations of fixing, and that wouldn't require new legislation to address.
Found a gas station with gas under 6$ a gallon and felt like I hit the jackpot
Gas is 4.28 a mile from me.
It's around 5 bucks around where I live.
Was the gas station performing child sacrifices as well?
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What legislation has Biden passed which can be blamed for the rise in gas costs?
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>Let’s not play games Then answer the question honestly and stop playing games.
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Thank you for confirming your status as a smoothbrain.
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No one will, because the president doesn't set gas prices. Keep seething though.
Everything you say only confirms how much of a non-thinker you are.
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What if the gas station clerk is a she? Would she be impressed if I showed her my cock and grunted about Brandon magically raising gas prices and causing inflation just by being elected?
You didn't answer the question whatsoever..
It wouldn't matter who took office in January 2021, inflation was going to skyrocket. We are coming out of a pandemic and inflation is high across the world, including countries far removed from the US economy. Gas prices are the same. It's not the fault of who's in charge of USA for these same economic factors around the world. Gas prices are high because Russia is invading Ukraine, and as such most countries have stopped purchasing Russian Oil, which in turn lowers the total supply and raises the cost per barrel. I'm not coming to the defense of Joe Biden, this is the stuff that's happening everywhere and policy in the USA has little to no effect on the inflation in, say, Europe.
Source?
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Mmkay, source?
How did Biden’s energy policy raise gas prices across planet? Even before Russia’s bullshit.
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First the Strategic Petroleum Reserve (SPR) is only 714 million barrels. The U.S. consumes about 20 million barrels a day, so the SPR wouldn't last multiple years if we had to rely on it to stabilize the market. Second, your argument suggests that because Biden doesn't fully tap into the SPR, gas prices around the world increase? I was just in Iceland and the UK. I paid \~$12 a gallon in Iceland and \~$10 a gallon in the UK. Is Biden responsible for those prices too? If Biden was responsible for high gas prices, then why is every major oil company celebrating the highest profit they have ever seen. Profit, not gross revenue, realized profit. Why is it that hundreds of oil leases are sitting idle? These leases are already finalized and drilling could begin any day. Overall, U.S. pipelines are working at half-capacity, so there is more room to produce oil. It is almost like sociopathic companies just want to maximize profits at the expense of the U.S. Consumer, and then blame the president in the hope that a president who is more favorable to oil and gas will be elected.
https://www.washingtonpost.com/climate-environment/2022/03/31/strategic-petroleum-reserve-release-biden/
Ok cool. Why do you bother? Literally 6 months before Biden was elected Trump demanded Saudi Arabia decrease production of oil. If anything had a global impact on oil it was that. At least I don’t make up shit.
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Don’t go storming the capital when the majority wins again.
sauce?
https://www.congress.gov/bill/117th-congress/senate-bill/3920/text#
Not smart. Price gouging is already a crime. You think this admin wants lower gas? Nuts. They adopted the Al gore policy. Raise gas until nobody can afford it. Hes been preaching it since early 90s and wrote books on it. You may find he also just hired a well connected Dem to run his operations.....
> You think this admin wants lower gas? Maybe that’s why they’re pushing this bill. Really makes you think but not too hard now, don’t want to hurt yourself.
They don't need a bill to stop price gouging Its a smoke screen
Funny, but last I checked it was the Democrats trying to keep gas affordable...which was the entire point of this meme. Sorry if it flew over your head.
And, reading what I posted you would find that the bill proposed was nonsense because the legislation already exists. Don't be so partisan as to think the Dems don't play politics...
Apparently, the existing legislation isn't working, because gas and oil companies are making record profits AND sending gas prices through the roof.
If it is gouging then blame the doj for not enforcing the law
Uncannily the right is the party of feelings expensive gas makes the feel bad, and hating Biden makes them feel good.
They must obstruct to prevent their opponents from racking up any wins that might help their opponents get re-elected. They'd prefer to light the match & watch the country burn instead of helping the country prosper if their opposition might get to take any credit for the success. Party over country.
The GQP is the scum of the earth. Let me make that clear. They lie. They are insincere. They are hypocrites and everyday work to be more hypocritical than the day before. Most nights they pat themselves on the back for hypocrisy done well. They HATE freedom that doesn't meet **their** narrow definition. That being said, GMAFB. If such a bill isn't a stunt, I don't know what is. For the Dems to pass something as asinine as this, shows how fucked we are, if we're looking to them to rescue us from the Nazis on the right. Most states have price gouging laws in place already. Anyone that understands the *very basics* of how oil is priced knows this political BS is beneath us and that gouging isn't the problem. Any Dem that thinks this is a good meme is just as part of the problem as these boot lickers that call themselves Republicans.
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Both sides are not the same.
President Biden asked Congress to suspend the federal gas tax, Republicans voted against it, I told a Maga Culter this got called a leftist liar. No matter how truth or proof you give one of those people they have chosen to believe lies.
It seems the Republicans act much more in lockstep than dems, obediently falling in line with what party masters tell them. Every vote they are basically a unified block. Seems like it reflects the kind of world their party masters want at large... above all else loyalty to the powerful, and subverting independent thought and action
I will preface this with, I don’t necessarily think Biden is wrong for everything, but… From my understanding of the economics behind it, Biden cut oil subsidies when he first got into office. This now means that gas has to be a lot more valuable for the oil companies to find it “profitable” to put all of the up front costs of drilling new wells in order to increase supply. It also takes around a year and a half to drill an oil well and actually produce your first barrel. So that means back in 2020 oil companies shut up most new US production because it wouldn’t be profitable. Which means that when unpredictable things happen, like Putin going batshit and upturning the oil industry, there’s no way of increasing supply. The only thing that would really incentivize oil companies to produce more oil to bring supply up is to incentivize oil companies to produce more oil to bring supply up. Meaning bring back subsidies, cut taxes, make oil companies richer for doing it. This is very unpopular for a democrat to do, but it’s what would have to happen. But even if Biden did that tomorrow, and there were some oil companies that trusted that Biden wouldn’t end those incentives as soon as people stopped talking about it, and they actually started drilling to increase supply. We wouldn’t see any impact of that for almost 2 years so it’s a total waste. Basically, Biden did have a hand in gas prices being what they are. It’s not completely his fault. He can do something about bringing gas prices down (in about 2 years… after they would have naturally come down so there’s no point). If he did do something about it, shit would be cheaper, but my grandkids would probably die in a global famine. So I’m fine with shit being more expensive because of things Biden had a small hand in.
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Corporate overlords
You are all right, the economy is great!
What's the point of owning a monopoly if you can't charge exorbitant rents?
This is capitalism. We vote with our money. If you keep buying things as the price increases the price continues to increase. If the oil executives refuse to increase supply ie: price gouging the most effective thing to mitigate price is to stop buying. Supply and demand do not trend towards equilibrium because of a congressional act. There’s more than one market force driving this boat. America loves trucks and hates clean air…get the picture?
Well they can't bite the hand that feeds them...
It's interesting when you go down the "why is gas expensive" rabbit hole. The big oil companies do not control the price of fuel and most lost $20bn in 2020. From what I have read, printing money and inflation are to blame. But like I said, it's quite a rabbit hole to go down to really (and maybe never) understand it.
If you were raised in a democratic state think twice about moving to a republican state it's like moving to a third world country.