Why are US gas prices soaring when America barely uses Russian oil?

[Legion]

YES. PRES.MORON AND THE LIE-O-CRATS ARE LYING AGAIN. IT WAS BUILDING LONG BEFORE THE UKRAINE INVASION.

Crude oil prices increased in 2021

https://www.eia.gov/todayinenergy/detail.php?id=50738

 

[ThatOwlWoman]

Here are some excerpts from the article. There are also some graphs at the link.

"Most of Russia's oil goes to Europe and Asia. But the key here is to think about the oil supply globally, rather than the US specifically. The commodities world is a heavily interconnected one, and oil is priced through a global market. So what happens in one area of the world can affect another...

...it's true that very little of that Russian supply goes to the United States — just 90,000 barrels of crude oil per day in December, according to the most recent US government statistics. In 2021, by contrast, Europe got 60% of Russia's oil exports and China got 20%. But remember that oil is bought and shipped around the world through a global commodities market. So in that sense it doesn't really matter who specifically is getting crunched by the loss of Russian oil, because lower supply affects those global prices no matter what.

... if Europe buys less Russian oil, it will have to replace it with oil from somewhere else — perhaps from the powerful Saudi Arabia-led Organization of the Petroleum Exporting Countries. That increase in demand for OPEC oil will send its crude prices higher. And guess who else buys hundreds of millions of barrels of OPEC oil? [FONT=&]You guessed it: the United States.

How much crude oil does the United States import from Russia? Russia ranked ninth among the top 10 countries that the United States relies on for crude oil imports. In December 2021, the US imported 90,000 barrels per day from Russia."
[/FONT]
https://www.cnn.com/2022/03/12/energy/us-gas-prices-russia-oil/index.html

Thank you, this is entirely accurate. Another thing I think ppl don't understand is that the president has no control -- nor should he -- over global market prices.

 

[ThatOwlWoman]

Right. it's fungible.

the solution is to replace russian oil with domestic u.s. oil.

You hate the concept of american power so you won't acknowledge reality.

You don't understand that replacing foreign oil with our own makes little difference. The price of oil per barrel is set on the global market no matter whose land it comes out of.

 

[Althea]

You don't understand that replacing foreign oil with our own makes little difference. The price of oil per barrel is set on the global market no matter whose land it comes out of.

But increasing output puts more on the market. Why are American oil companies as bad as OPEC?

 

[Celticguy]

why ? its pretty simple.

Much of Russia's oil is not being sold any longer so the supply is limited, ergo the overall increase in the cost of oil. Anyone's oil, everyone's oil.

The issue with US buying Russian oil had to do with its being RUSSIAN oil and we were supposed to NOT be doing bidness with those damned old Ruskie meanies.

Does that help ?

 

[ThatOwlWoman]

But increasing output puts more on the market. Why are American oil companies as bad as OPEC?

Bingo. The Reichwingers blame Biden. In reality the oil companies are holding back on production because lower supply raises prices.

Another thing the Reichwingers don't seem to grasp is that American oil companies have been sitting on thousands of leases that they are not drilling. What's the point of giving them even MORE leases not to utilize?

 

[Althea]

Bingo. The Reichwingers blame Biden. In reality the oil companies are holding back on production because lower supply raises prices.

I've posted numerous links that show what Wall St. had to do with production cuts as we came out of the trump virus. They plotted it before trump allowed Covid to decimate our society and economy, so the moment demand increased, the prices were set to go up.

Before we bragged about our fracking industry, any time someone farted in the Mid East oil prices went up. Saudi Arabia gave us a gentle reminder exactly who is in control, as they flooded the market and put many fracking companies out of business.

At that time, Americans being the geniuses that they are, ran out and went back to purchasing gas guzzling vehicles. Auto manufacturers were thrilled to have the business. Now we have high gas prices due in large part to American oil companies, and it's Biden's fault.

Another thing the Reichwingers don't seem to grasp is that American oil companies have been sitting on thousands of leases that they are not drilling. What's the point of giving them even MORE leases not to utilize?

Since the oil/gas industry started leasing private land, they don't want to comply with Fed. regulations. They stopped drilling on Fed. land a long time ago. Everyone 'motherfucked' Obama because he 'took away drilling contracts'.

What he did was to end lease agreements on land that hadn't been drilled yet, and sat idle for many years. Qpublicans and Communists on this board love to talk about drilling in Alaska, or Keystone XL. None of this will make a difference as long as American oil companies are driving prices up by decreasing supply.

Ironically, they have been doing stock buybacks and paying increased dividends to investors in the past year. They haven't been spending on new wells, equipment or materials. Now that they want to jump on expensive oil, they can't find the products necessary to start drilling again.

We need a national oil company to compete with Wall St.. Let the Feds. drill on Fed land and sell in this country at cost.

 

[PostmodernProphet]

obviously because they were soaring before Putin decided to invade Ukraine.........which in fact may have contributed to his confidence NAY-TO and Buy-done would do nothing to prevent him......

 

[PostmodernProphet]

You are correct that the President doesn't have control over gas prices as in there's not some lever they can push that makes prices rise or decrease. It's way bigger than that. This tweet chain lays out well though the Biden energy policy. When you say climate change is an existential threat and we need to do everything we can to ween ourselves off fossil fuels and discourage drilling there's an element of intellectual dishonesty to say those policies play no role at all in what's happening.

and yet back in 2008 when prices were high Bush issued an executive order removing restrictions on US production and prices dropped within 21 days.........then in January of 2009 Obama reversed that order and prices went back up......

 

[Nordberg]

Bingo. The Reichwingers blame Biden. In reality the oil companies are holding back on production because lower supply raises prices.

Another thing the Reichwingers don't seem to grasp is that American oil companies have been sitting on thousands of leases that they are not drilling. What's the point of giving them even MORE leases not to utilize?

Supply and demand are sinking as important factors. It is politics and prediction. The oil market is a futures market with investors betting on what oil will cost in the future. With Putin's war of choice, it is logical to bet that it will go up. That is what is happening. Until Putin gets bored with killing people and returns home, oil prices will climb. Biden has nothing to do with it.

 

[ThatOwlWoman]

I've posted numerous links that show what Wall St. had to do with production cuts as we came out of the trump virus. They plotted it before trump allowed Covid to decimate our society and economy, so the moment demand increased, the prices were set to go up.

Before we bragged about our fracking industry, any time someone farted in the Mid East oil prices went up. Saudi Arabia gave us a gentle reminder exactly who is in control, as they flooded the market and put many fracking companies out of business.

At that time, Americans being the geniuses that they are, ran out and went back to purchasing gas guzzling vehicles. Auto manufacturers were thrilled to have the business. Now we have high gas prices due in large part to American oil companies, and it's Biden's fault.

Since the oil/gas industry started leasing private land, they don't want to comply with Fed. regulations. They stopped drilling on Fed. land a long time ago. Everyone 'motherfucked' Obama because he 'took away drilling contracts'.

What he did was to end lease agreements on land that hadn't been drilled yet, and sat idle for many years. Qpublicans and Communists on this board love to talk about drilling in Alaska, or Keystone XL. None of this will make a difference as long as American oil companies are driving prices up by decreasing supply.

Ironically, they have been doing stock buybacks and paying increased dividends to investors in the past year. They haven't been spending on new wells, equipment or materials. Now that they want to jump on expensive oil, they can't find the products necessary to start drilling again.

We need a national oil company to compete with Wall St.. Let the Feds. drill on Fed land and sell in this country at cost.

Excellent idea, although we would need to limit where they would be drilling so as not to destroy more of our environment. It will never happen though because Fox will instruct the morons to dutifully screech about "socialism."

 

[Matt Dillon]

As far as high gas prices in this country, I would say greed on big oil's part?!! They want more leases of federal land to drill baby drill?!! We and the world needs to be moving away from fossil fuels, and we don't have a lot time left either?!!

People like signalmankenneth are definitely part of the current problem.

 

[Matt Dillon]

I've posted numerous links that show what Wall St. had to do with production cuts as we came out of the trump virus. They plotted it before trump allowed Covid to decimate our society and economy, so the moment demand increased, the prices were set to go up.

Before we bragged about our fracking industry, any time someone farted in the Mid East oil prices went up. Saudi Arabia gave us a gentle reminder exactly who is in control, as they flooded the market and put many fracking companies out of business.

At that time, Americans being the geniuses that they are, ran out and went back to purchasing gas guzzling vehicles. Auto manufacturers were thrilled to have the business. Now we have high gas prices due in large part to American oil companies, and it's Biden's fault.

Since the oil/gas industry started leasing private land, they don't want to comply with Fed. regulations. They stopped drilling on Fed. land a long time ago. Everyone 'motherfucked' Obama because he 'took away drilling contracts'.

What he did was to end lease agreements on land that hadn't been drilled yet, and sat idle for many years. Qpublicans and Communists on this board love to talk about drilling in Alaska, or Keystone XL. None of this will make a difference as long as American oil companies are driving prices up by decreasing supply.

Ironically, they have been doing stock buybacks and paying increased dividends to investors in the past year. They haven't been spending on new wells, equipment or materials. Now that they want to jump on expensive oil, they can't find the products necessary to start drilling again.

We need a national oil company to compete with Wall St.. Let the Feds. drill on Fed land and sell in this country at cost.

1 step closer to Venezuela and having to eat all the dogs, aye?

 

[Matt Dillon]

Here are some excerpts from the article. There are also some graphs at the link.

"Most of Russia's oil goes to Europe and Asia. But the key here is to think about the oil supply globally, rather than the US specifically. The commodities world is a heavily interconnected one, and oil is priced through a global market. So what happens in one area of the world can affect another...

...it's true that very little of that Russian supply goes to the United States — just 90,000 barrels of crude oil per day in December, according to the most recent US government statistics. In 2021, by contrast, Europe got 60% of Russia's oil exports and China got 20%. But remember that oil is bought and shipped around the world through a global commodities market. So in that sense it doesn't really matter who specifically is getting crunched by the loss of Russian oil, because lower supply affects those global prices no matter what.

... if Europe buys less Russian oil, it will have to replace it with oil from somewhere else — perhaps from the powerful Saudi Arabia-led Organization of the Petroleum Exporting Countries. That increase in demand for OPEC oil will send its crude prices higher. And guess who else buys hundreds of millions of barrels of OPEC oil? [FONT=&]You guessed it: the United States.

How much crude oil does the United States import from Russia? Russia ranked ninth among the top 10 countries that the United States relies on for crude oil imports. In December 2021, the US imported 90,000 barrels per day from Russia."
[/FONT]
https://www.cnn.com/2022/03/12/energy/us-gas-prices-russia-oil/index.html

The main reason gas prices in America are soaring is the many things this did:

https://www.whitehouse.gov/briefing...d-restoring-science-to-tackle-climate-crisis/

One excerpt reads:

"Sec. 7. Other Revocations. (a) Executive Order 13766 of January 24, 2017 (Expediting Environmental Reviews and Approvals For High Priority Infrastructure Projects), Executive Order 13778 of February 28, 2017 (Restoring the Rule of Law, Federalism, and Economic Growth by Reviewing the “Waters of the United States” Rule), Executive Order 13783 of March 28, 2017 (Promoting Energy Independence and Economic Growth), Executive Order 13792 of April 26, 2017 (Review of Designations Under the Antiquities Act), Executive Order 13795 of April 28, 2017 (Implementing an America-First Offshore Energy Strategy), Executive Order 13868 of April 10, 2019 (Promoting Energy Infrastructure and Economic Growth), and Executive Order 13927 of June 4, 2020 (Accelerating the Nation’s Economic Recovery from the COVID-19 Emergency by Expediting Infrastructure Investments and Other Activities), are hereby revoked."

There are things in other sections, but all that is a big Bah Fongu to oil production in America.

Biden started this snowball rolling day 1 of his presidency. He did this. All the bolded are Trump deregulations and policies that Biden revoked on day 1.

This is what was foisted on the American people. Biden choked off oil production on day 1. "Elections have consequences" - Barack Obama

Long story short? Biden got in there and immediately fucked up everything good that Trump did for oil production in America. That's the reality of the situation.

I say there's no way his administration didn't know this would harm Americans down the line.

They did this on purpose to hurt all of us.

"Climate Change" my ass! I want cheap gas!

 

[Lionfish]

The topic is crude oil, not gasoline.

Fuck you

 

[Monad Portal]

You don't understand that replacing foreign oil with our own makes little difference. The price of oil per barrel is set on the global market no matter whose land it comes out of.

if its replaced then the price won't go up as much due to scarcity.

its basic.

yer dum.

 

[Nordberg]

The main reason gas prices in America are soaring is the many things this did:

https://www.whitehouse.gov/briefing...d-restoring-science-to-tackle-climate-crisis/

One excerpt reads:

"Sec. 7. Other Revocations. (a) Executive Order 13766 of January 24, 2017 (Expediting Environmental Reviews and Approvals For High Priority Infrastructure Projects), Executive Order 13778 of February 28, 2017 (Restoring the Rule of Law, Federalism, and Economic Growth by Reviewing the “Waters of the United States” Rule), Executive Order 13783 of March 28, 2017 (Promoting Energy Independence and Economic Growth), Executive Order 13792 of April 26, 2017 (Review of Designations Under the Antiquities Act), Executive Order 13795 of April 28, 2017 (Implementing an America-First Offshore Energy Strategy), Executive Order 13868 of April 10, 2019 (Promoting Energy Infrastructure and Economic Growth), and Executive Order 13927 of June 4, 2020 (Accelerating the Nation’s Economic Recovery from the COVID-19 Emergency by Expediting Infrastructure Investments and Other Activities), are hereby revoked."

There are things in other sections, but all that is a big Bah Fongu to oil production in America.

Biden started this snowball rolling day 1 of his presidency. He did this. All the bolded are Trump deregulations and policies that Biden revoked on day 1.

This is what was foisted on the American people. Biden choked choked off oil production on day 1. "Elections have consequences" - Barack Obama

Long story short? Biden got in there and immediately fucked up everything good that Trump did for oil production in America. That's the reality of the situation.

I say there's no way his administration didn't know this would harm Americans down the line.

They did this on purpose to hurt all of us.

"Climate Change" my ass! I want cheap gas!

Is Legion your Russian partner on this board?

 

[Matt Dillon]

Is Legion your Russian partner on this board?

No. I was battling with Legion until late last night. How does the way Biden fucked all Americans on day 1 of his presidency make you feel?

If they were out to do maximum damage to America, what would they be doing differently?

Are you a sentient American, or was your response this?

NPC ROE:

1. Demand a link or an explanation of the truth they are objecting to.

2. Promptly reject all explanations as right wing lies. Smoke spin deflect.

3. Ignore any facts presented.

3a. Play dumb and keep others wasting their time trying to enlighten you.

4. Ridicule spelling and typos, punctuation.

5. Attack the person as being juvenile, ie: "are you 12 years old", question their education, intelligence, Age.

6. Employ misdirection.

6a. smear people.

6b. attack religion.

6c. attack your rationality.

7. Lie, make false assumptions.

8. Play race/gender card/misogynist card.

9. Play gay/lesbian card.

10. Play the Nazi/Fascist/bigot card.

11. Make up stuff/So you got nothing?

12. Deny constantly.

13. Reword and repeat.

14. Pretending not to understand, playing ignorant/what did I lie about.

15. When losing, resort to personal attacks.

16. Russia.

17. Fox News/Alex Jones/Brietbart/infowars/Stormfront/Gateway/hannity/OAN.

18. You can’t read.

19. Trump Trump Trump Trump Trump Trump.

20. What about...

 

[Taichiliberal]

Here are some excerpts from the article. There are also some graphs at the link.

"Most of Russia's oil goes to Europe and Asia. But the key here is to think about the oil supply globally, rather than the US specifically. The commodities world is a heavily interconnected one, and oil is priced through a global market. So what happens in one area of the world can affect another...

...it's true that very little of that Russian supply goes to the United States — just 90,000 barrels of crude oil per day in December, according to the most recent US government statistics. In 2021, by contrast, Europe got 60% of Russia's oil exports and China got 20%. But remember that oil is bought and shipped around the world through a global commodities market. So in that sense it doesn't really matter who specifically is getting crunched by the loss of Russian oil, because lower supply affects those global prices no matter what.

... if Europe buys less Russian oil, it will have to replace it with oil from somewhere else — perhaps from the powerful Saudi Arabia-led Organization of the Petroleum Exporting Countries. That increase in demand for OPEC oil will send its crude prices higher. And guess who else buys hundreds of millions of barrels of OPEC oil? [FONT=&]You guessed it: the United States.

How much crude oil does the United States import from Russia? Russia ranked ninth among the top 10 countries that the United States relies on for crude oil imports. In December 2021, the US imported 90,000 barrels per day from Russia."
[/FONT]
https://www.cnn.com/2022/03/12/energy/us-gas-prices-russia-oil/index.html

But since nothing has been physically enacted to make this effect the economy, we can thank good old Wall St. type speculation as the culprit for raising prices at the pump.

God indeed bless America, because we can use all the help we can get!

 

[Matt Dillon]

But since nothing has been physically enacted to make this effect the economy, we can thank good old Wall St. type speculation as the culprit for raising prices at the pump.

God indeed bless America, because we can use all the help we can get!

No, you can thank decreased production due to the current president.

God bless America though, please.

https://www.whitehouse.gov/briefing...d-restoring-science-to-tackle-climate-crisis/

Hmm, I find it odd that the highest US oil production peak ever coincides with the same time the Covid panic was foisted on America.

March 2020, correct?

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=M