$5 a gallon

If only the Republicans voted to pass legislation to cap gas prices... What ever will we do without the boomers running the country

If only the Republicans voted to pass legislation to cap gas prices... What ever will we do without the boomers running the country Originally Posted by onawbtngr546

You don't know much about economics do you?

Legislation to cap gas prices - where are you getting that bullshit from?

Cap gas prices and nobody will sell gas. The industry will end up taken over by government who will fuck it up BAR, as they do with most things.

Anywho, this didn’t age well;

The destruction is intentional. Those gas prices you’re mad about, Democrats did that on purpose. In a Senate hearing Biden Treasury Secretary Janet Yellen says "the critical thing is we become more dependent on the wind and the sun"

A good reminder that they CHOSE this transition, and the pain is the point.

https://twitter.com/i/status/1534196497390227457

The gas station I frequent just hit $5/gal ($4.999 to be exact)

HELL OF A JOB SENILE BIDEN AND ALL THE MORONIC LIBTARDS

BREAKING: The average price for a gallon of gas in Pennsylvania has crossed the $5.00 mark for the first time in history, with average prices at $5.03 this morning.

https://www.cbsnews.com/pittsburgh/n...tate-averages/

BREAKING: According to GasBuddy, the national average has reached $5 per gallon.

Senile Biden should take a victory lap—this is what he wanted, and it's a direct result of his policies.

ABC: Gas prices are so high that one Michigan county’s police department has “blown through their fuel budget” and will no longer respond to every 911 call in-person

https://twitter.com/i/status/1534912573950382082

Oil prices are high for multiple reasons:

1. Investors got burned from 2014-2020 because of shale oil. Many small time oil companies were bankrupt from this time period. They don't want a repeat of that. The Saudi's intentionally flooded the market with cheap oil from this same period because they wanted to weed out the other oil producers who couldn't survive with the smaller margins. Only the big players could survive. If you check the stock performance of oil companies from 2014, you were basically losing money while the rest of the stock market climbed significantly.
2. Refining capacitiy is down because the ROI isn't there to justify building a new one when renewables are becoming a higher point of focus.
3. The U.S. government is disincentivizing the drilling of new oil fields. Regulations are incredibly high. At the end of the day, oil companies operate the same as a regular mom-and-pop business: "Does it make financial sense?" The answer right now is no. You might remember the Keystone Pipeline XL being shut down. Well, it was initially approved so work was started. After spending a projected total of $15 billion, TC Energy then had their permit revoked by Biden. Ask yourself: Why would anyone want to take that risk? Yes, it might be allowed now. But just as easily, it can be shut down. That uncertainty is at a level where it becomes unappealing.
4. The war decreases the amount of available oil supply because of sanctions imposed. This means you have more countries bidding on the same supply of oil driving the prices up higher.
5. OPEC has ZERO incentive to increase the supply and lower the prices. Saudi Arabia, for instance, knows that oil is finite and that their cash cow won't be around in say, 20 years. They have been divesting away from oil quickly in preparation of this. That is why you are seeing Saudi Arabia spend billions of $ in other areas to ramp up their economy.

Is it Biden's fault? The serious answer is no but the long answer is his initiatives are making is increasingly difficult for oil companies to want to increase production and refining capacity. When you want to go green, there is a transition that will happen. This is that transition period where you are going to see high oil prices for the foreseeable future in the hopes that it will pay off in the long run when renewables are the dominant player and EV's become the norm. Unfortunately, the mistake here is NOT focusing enough on electricization and nuclear energy.

Oil prices are high for multiple reasons:

1. Investors got burned from 2014-2020 because of shale oil. Many small time oil companies were bankrupt from this time period. They don't want a repeat of that. The Saudi's intentionally flooded the market with cheap oil from this same period because they wanted to weed out the other oil producers who couldn't survive with the smaller margins. Only the big players could survive. If you check the stock performance of oil companies from 2014, you were basically losing money while the rest of the stock market climbed significantly.
2. Refining capacitiy is down because the ROI isn't there to justify building a new one when renewables are becoming a higher point of focus.
3. The U.S. government is disincentivizing the drilling of new oil fields. Regulations are incredibly high. At the end of the day, oil companies operate the same as a regular mom-and-pop business: "Does it make financial sense?" The answer right now is no. You might remember the Keystone Pipeline XL being shut down. Well, it was initially approved so work was started. After spending a projected total of $15 billion, TC Energy then had their permit revoked by Biden. Ask yourself: Why would anyone want to take that risk? Yes, it might be allowed now. But just as easily, it can be shut down. That uncertainty is at a level where it becomes unappealing.
4. The war decreases the amount of available oil supply because of sanctions imposed. This means you have more countries bidding on the same supply of oil driving the prices up higher.
5. OPEC has ZERO incentive to increase the supply and lower the prices. Saudi Arabia, for instance, knows that oil is finite and that their cash cow won't be around in say, 20 years. They have been divesting away from oil quickly in preparation of this. That is why you are seeing Saudi Arabia spend billions of $ in other areas to ramp up their economy.

Is it Biden's fault? The serious answer is no but the long answer is his initiatives are making is increasingly difficult for oil companies to want to increase production and refining capacity. When you want to go green, there is a transition that will happen. This is that transition period where you are going to see high oil prices for the foreseeable future in the hopes that it will pay off in the long run when renewables are the dominant player and EV's become the norm. Unfortunately, the mistake here is NOT focusing enough on electricization and nuclear energy. Originally Posted by onawbtngr546

Of course you would defend Senile Biden. How long did it take you to find a libtard cut and paste article you could post making excuses for him?

Here is all you need to know: The only thing changed is Senile Biden's policies and his war on fossil fuels

Never forget... The Senile Biden plan was always to stop drillers from drilling. Now that they stopped, he's whining about it.

Senile Biden in 2020: "No more subsidies for the fossil fuel industry. No more drilling including offshore. No ability for the oil industry to continue to drill period. It ends."

Watch:

https://twitter.com/i/status/1501202578033438720

Once again, we see that the Senile Biden Administration is an astounding collection of the absolute worst, dumbest, most arrogant people to ever hold their respective jobs. It's like a singularity of incompetence.

“When the White House started calling around in a panic, they thought shale oil production could grow sharply in the near term — like in a matter of months or quarters .. They were shocked to learn that that’s like asking for blood from a stone.”

https://www.ft.com/content/2d92c841-...2-02994ac41f7d

$5.19 in my area now

thanks green liberals, see u in November

... Trump AND BIDEN both surely explained that this
would happen if Joe became president.
We heard it at the Debate.

Obviously most of the Biden voters didn't listen.
OR didn't care.

How's that inflation thing going for ya now? ...

#### Salty

... Trump AND BIDEN both surely explained that this
would happen if Joe became president.
We heard it at the Debate.

Obviously most of the Biden voters didn't listen.
OR didn't care.

How's that inflation thing going for ya now? ...

#### Salty Originally Posted by Salty Again

What's the price of gas in the old country?