Gas prices

qflyer

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What has Biden done to increase gas prices? You guys frequently cite "cut production", yet that's not true. So what did Biden do to cause prices to go up, and if he made them go up, do you credit him for falling prices as well?

I know, my last post to the Bernie Sanders supporter. :p
Spoiler alert: I'm not a Sanders supporter. I'm far more conservative than the average republican.
 

tigerwillow1

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Yet US oil production is higher today than it was when Trump left office. It's higher than when Trump took office. It's higher today than it was for the majority of Trump's presidency.
A textbook example of cherry picking stats to create a false narrative. Let's look at more complete information. For anybody with even a small brain it speaks for itself.

CrudeProduction copy.jpg
U.S. Crude Oil Production - Historical Chart
Did you not post the complete data and/or a link because it doesn't fit your false narrative?


truth and facts be damned.
Yep. Pick the conclusion you want, then fish around for something that appears to support it.

To everybody else, begging forgiveness for falling for the troll.
 

Parley

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US Sold Nearly 6 Million Barrels of Oil From Reserves to China, Records Show (theepochtimes.com)

The Biden administration has sold nearly 6 million barrels of oil from the U.S. Strategic Petroleum Reserve to an entity tied to the Chinese Communist Party, records show.

From September 2021 to July, the Department of Energy (DOE) has awarded three crude oil contracts with a combined value of roughly $464 million to Unipec America, the U.S. trading arm of Chinese state-owned oil company Sinopec, according to a review by The Epoch Times of the DOE documents. A Chinese firm with ties to Hunter Biden had invested in the national oil giant.

The sale would tap 5.9 million barrels in total from the strategic reserve (SPR) to export to the Chinese firm. The latest contract, revealed on July 10, was for 950,000 barrels sold for around $113.5 million.

The two most recent sales to Unipec came out of an emergency drawdown of the U.S. oil stockpile, initiated under President Joe Biden on March 31 in what he said would offset the loss of Russian oil in global markets and tame rising fuel costs at home.

The Unipec contracts have been subject to heavy criticism in recent weeks, especially because of the firm’s connections to the president’s son. With Americans nationwide still reeling from elevated gas prices, the selling of oil reserves to foreign adversaries such as China is at odds with U.S. energy and security needs, Republican lawmakers and analysts have said.

“Biden is draining our strategic reserves at an unprecedented rate. This is an abuse of the SPR, far beyond its intended purpose. Sending U.S. petroleum reserves to foreign adversaries is wrong, and it undermines our national security,” Rep. Clay Higgins (R-La.) told The Epoch Times.

What the United States should do, he says, is to “unleash American energy production and ensure that our strategic reserves are stocked and able to meet the demands of a national emergency.”
 

qflyer

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It sure is funny how this thread died when gas prices started plummeting. 87 at the local station is 3.29/gal today. Gas prices averaged $2.91/gal in August 2018 under Trump. Adjusted for inflation, that's $3.43/gal.

So, umm, anyone got some of those "I did that" stickers left over we can start putting up at the pumps again to remind people of Biden's incredible leadership in getting prices back down?
 

mcapeed

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Biden claimed that the gas price increases were caused by Putin. Now that they are lower I expect that he will claim it is because of his great policy making and leadership.

Obviously nobody believes Biden as he is the proud owner of the lowest approval ratings of any modern day US president.


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looney2ns

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Biden claimed that the gas price increases were caused by Putin. Now that they are lower I expect that he will claim it is because of his great policy making and leadership.

Obviously nobody believes Biden as he is the proud owner of the lowest approval ratings of any modern day US president.


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But there are still those that DO believe this knucklehead and his moronic administration. That is the danger.
I mean, just look at how long Schumer and Pelosi have kept their jobs by the voters wish. :smash:
 

tigerwillow1

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The gas price changes both up and down are just natural reactions.

1. Biden causes a big supply cut.
2. Price goes up fast. Demand doesn't go down much initially. People have trips planned. Businesses have commitments. They pay through the nose. Price overshoots on the high side.
3. Over time, individuals and businesses find ways to lower consumption. Demand slowly drifts down.
4. The higher prices make some previously economically supply profitable. Supply slowly goes up. Price overshoots on the low side. Possibly where we are now.
5. Price will drift back up to a lower high than right after the supply shock. The next move.
6. Price will bounce up and down a few more times then stabilize at a higher level than before Biden caused the supply cut.

All this crap about Putin causing the price to go up, and Biden causing it to go down is just ignorant propaganda that ignores the natural reaction of a large system to a big change of one of its inputs.
 

mat200

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The gas price changes both up and down are just natural reactions.

1. Biden causes a big supply cut.
2. Price goes up fast. Demand doesn't go down much initially. People have trips planned. Businesses have commitments. They pay through the nose. Price overshoots on the high side.
3. Over time, individuals and businesses find ways to lower consumption. Demand slowly drifts down.
4. The higher prices make some previously economically supply profitable. Supply slowly goes up. Price overshoots on the low side. Possibly where we are now.
5. Price will drift back up to a lower high than right after the supply shock. The next move.
6. Price will bounce up and down a few more times then stabilize at a higher level than before Biden caused the supply cut.

All this crap about Putin causing the price to go up, and Biden causing it to go down is just ignorant propaganda that ignores the natural reaction of a large system to a big change of one of its inputs.
Bullwhip effect ..

1660419247984.png
 

Ssayer

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You have to love the fact check on this one that says it's false. The fact check says that these cars are simply being "stored:" there. "Stored" eh? :p If the batteries on those cars are like any batteries I've ever dealt with. You leave them in storage long enough and they die. Period. Lithium is a bitch to have in a landfill, eh?
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