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

[cancel2 2022]

has he changed his policy or opinion?

^ That needs to be tattooed on their foreheads.

Yes now but for quite a few years they were making hardly anything.

 

[Monad Portal]

All the objective, rational reader has to do is just look at my exchanges on the thread titled gas prices explode overnight - $4.19/gallon to see I'm not telling a lie. YOU, on the other hand, wouldn't cop to being wrong on this board if your life depended on it....just like your orange faced god.

You didn't explain shit.

 

[Monad Portal]

And in typical MAGA minion fashion, when you're caught flat footed wrong on one premise, you just move the goal post to another conspiracy laden accusation.
Seems you don't have the intellectual honesty or courage just to concede a point. Once again, you live up to your screen name. Carry on.

SO you're unaware of john durham's findings then..

Look into it.

 

[Lionfish]

The malcontents leftie's trying to come up with excuses for the disaster that is Brandon and Heels Up Harris is laughable. From day one after taking office things went downhill and have continued on from there.
As for the creator of this OP, he/she/alphabet still refuses that the US number one supplier of REFINED GASOLINE is Russia.
I do have full confidence in the fact this will continue to slide until just before midterms Brandon is told to reverse course in an attempt to save some seats in congress. Too little, too late.

 

[Taichiliberal]

Quote Originally Posted by Taichiliberal View Post
These MAGA minions have been parroting the same old myopic/revisionist BS for days now....DESPITE the FACT that one can present DOCUMENTED PROOF that what they say is an exaggeration at best, fueled by omitting information and adding supposition and conjecture as fact.

I've personally deconstructed on minion's similar diatribe on another thread....there are so many that I've put most on the ignore list, as they are insipidly stubborn on this point (or any point regarding the Orange Oaf). They could care less about Russia or Putin...it's all about "git'in those dang lib'rals".

I think it is worse. I think they are deliberately helping Russia and Putin to the detriment of America. They want Pooty to take over Ukraine and keep moving.

Naah, the damned fools are just following the "defend Trump at all cost" edict. Once again, they don't get that Dump could care less about them....he just wants to set up a Trump hotel in Russia. Sad.

 

[Taichiliberal]

.

The Biden admin is chock full of fools that understand little about how the oil industry operates, Jen Spaski is just one.

White House Press Secretary Jen Psaki said that there are 9,000 approved oil leases that the oil companies are not tapping into currently.

But, as American Petroleum Institute President and CEO Mike Sommers indicates, her statement amounts to factual distortion. “Just because you have a lease doesn’t mean there’s actually oil and gas in that lease, and there has to be a lot of development that occurs between the leasing and then ultimately permitting for that acreage to be productive,” Sommers said. In fact, the industry is using a higher percentage of federal onshore and offshore leases than at any time in the past, and it is continuing to increase production to meet surging demand.

The U.S. oil industry has both developed and undeveloped leases and it pays the government fees for renting them, regardless of whether oil and gas is eventually found and produced. It generally takes 7 to 10 years for oil companies to determine whether a lease will become productive and for them to invest in the infrastructure that is needed to produce the oil. With the Biden administration trying to push banks away from funding oil and gas projects and instead spend money on renewable energy, it is no wonder that the industry is hesitating to make the investment needed. Besides the need to obtain necessary capital to make the investment, the oil industry is faced with the uncertainty caused by Biden and his administration about imposing new taxes and regulations on the industry that were contained in the Build Back Better Bill. Further, the Department of Interior agreed with upping the royalty rates on the industry when they performed the review Biden requested when he placed the ban on new oil and drilling on public lands.

Because Biden touted his anti-oil and gas policies during his campaign for the Presidency, there was a flurry of lease purchases in 2020, despite record-breaking low – and even negative – oil prices resulting from the demand destruction due to the COVID lockdown. Those fears were justified as President Biden shut down leasing activities on his first day in office, and his leasing moratorium continues, despite a judge indicating that only Congress had the authority to approve not holding lease sales since Federal laws required the lease sales. Finally bowing to the law and conducting one lease sale in the Gulf of Mexico in the fall, another judge invalidated it on the grounds that the government had failed to take climate change into consideration. Biden’s administration has done nothing to contest that judgment, and in fact was appealing the original judge’s order the same week as the lease sale. To Biden and his administration, it is better to import oil from OPEC+ (the + is mainly Russia), Venezuela or Iran than to help the U.S. oil industry.

In the same press conference that Psaki misrepresented the 9000 leases, she falsely claimed Joe Biden was not funding the Russian war effort by continuing to import over 650,000 barrels of oil from Russia every day (about 8 percent of U.S. oil imports and 3 percent of oil consumption). At $120 a barrel that equates to $78 million a day from the United States to Russia alone. As the world’s third-largest oil producer providing more than 10 percent of global supply, Russia raked in $119 billion in resource revenues last year.

Due to pressure from Congress, Biden announced a ban on oil, liquefied natural gas and coal imports from Russia, signing an executive order to that effect on March 8. The day before, a bipartisan group of American lawmakers agreed to move ahead with legislation that would ban Russian energy imports in the United States and suspend normal trade relations with Russia and Belarus. Some European countries, which are highly dependent on Russian energy, have expressed a willingness to reduce their reliance on those imports, as well. Biden’s order blocks any new purchases of those energy products and winds down the deliveries of existing purchases that have already been contracted for. The White House said the action also bans new U.S. investment in Russia’s energy sector and prohibits Americans from participating in foreign investments that flow into that sector in Russia. China, which controls the minerals necessary for Biden’s “green energy transition,” immediately stepped into that space.

Gasoline prices have now surpassed their high in 2008, reaching an average of $4.17 a gallon. But, that is what Biden wants as his Secretary of Energy Granholm indicated—rising oil, natural gas and electricity prices benefit the transition to renewable fuels and Biden’s energy agenda.

Conclusion

The Biden administration and particularly Jen Psaki need to better understand the oil industry and energy markets so that they stop spouting misleading statements about oil leases and other industry-related subjects. The reason there are 9,000 undeveloped oil leases is because companies do not want to invest the massive amounts of money and manpower necessary to drill for oil when the Biden administration is constantly threatening to impose new or increasing taxes, fees and regulations on the industry, and “working like the devil” through all the financial institutions to cut off their funding and “bankrupt them.” With the ban on lease sales on federal lands, Biden has shown the U.S. oil industry through his actions that he does not want to do business with them. He would rather import oil from OPEC, Venezuela and Iran than to further develop the U.S. oil industry. His actions speak louder than his words.

Parroting the Big Oil BS ... the very same people who profit no matter if there's an "oil shortage" or "oil glut"....who make money on sheer Wall St. speculation, and tell YOU that your gas prices are going up because of a war that includes 2 countries that THE US DOES NOT DEPEND UPON FOR THE VAST MAJORITY OF IT'S OIL NEEDS. The wonks made it a point that the invasion of Iraq was NOT about oil, as the US doesn't depend on them for such. Yet the Ukraine is? And there fore the Biden administration is solely responsible for the spike in gas prices?

GMAFB! Here are a few tidbits of a reality check for ya to chew on:

Joe Biden Didn’t Do This
Republicans say the White House is responsible for high gas prices. That’s ridiculous.

https://slate.com/news-and-politics/2022/03/dont-blame-biden-for-gas-prices.html


- For example: Republicans on the Senate Energy and Natural Resources Committee complained in a letter this month “there has not been one lease sale on federal lands since you imposed a ban in violation of federal law.” (They implored Biden to “take the shackles off American energy.”) And the House Republicans’ campaign chief blamed the gas price spike on the administration shutting down “drilling on federal lands,” “freezing all the permits” offered to oil drillers, and “killing the Keystone XL pipeline.”

- In fact, oil production has actually increased, from about 11 million barrels per day to 11.5 million barrels through 2021. As Biden himself noted last week when announcing sanctions on Russian energy, domestic oil companies pumped more crude during the first year of his presidency than in the first year of Donald Trump’s. The number of oil rigs operating in the United States is still growing, too. Indeed, much to the frustration of climate activists, Biden has actually done very little to slow fossil fuel production on federal property.


- The real reason U.S. oil production hasn’t returned to peak production levels has less to do with Biden’s energy policies than with the fossil fuel industry’s desire to earn a buck.

As demand for oil has resurged from its mid-2020 lows, producers have been under pressure from shareholders to “put profits over production increases” and “return cash to shareholders rather than pump it back into drilling,” to quote the Financial Times and Wall Street Journal, respectively. As a result, companies have only expanded production slowly.

Just listen to oil executives themselves. “Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans,” the CEO of Pioneer, which is the largest oil producer in the Permian Basin, the key oil-producing area of the Southwest, said at a Bloomberg event last month. “If the president wants us to grow, I just don’t think the industry can grow anyway.”

Occidental Petroleum CEO Vicki Hollub has likewise said her company is focused on paying back investors at the moment: “I feel now that we do need to return cash to the shareholders in the form of dividends or buybacks, especially during the better cycles.”

Profit motives have held back oil production outside the U.S. too. OPEC countries hard hit from the recession kept a tight cap on output last fall—despite pressure from the U.S. and Japan and India to pump more—in order to goose their revenues. They only began to relent last week, when the United Arab Emirates announced it would increase production, leading prices to retreat a bit. As oil historian Gregory Brew told me last month, the UAE does have spare oil capacity at hand—and it doesn’t want continued high prices to potentially suppress global demand.

 

[Taichiliberal]

Quote Originally Posted by Taichiliberal View Post
All the objective, rational reader has to do is just look at my exchanges on the thread titled gas prices explode overnight - $4.19/gallon to see I'm not telling a lie. YOU, on the other hand, wouldn't cop to being wrong on this board if your life depended on it....just like your orange faced god.

You didn't explain shit.

Brilliant retort by the intellectually impotent right wing wonk ....no specifics, just a frustrated sputter resulting from NOT reading any contrary information.

Living up to screen name, junior has is a walking dead asshat for the right wing edicts. Pathetic.

 

[Taichiliberal]

Quote Originally Posted by Taichiliberal View Post
And in typical MAGA minion fashion, when you're caught flat footed wrong on one premise, you just move the goal post to another conspiracy laden accusation.
Seems you don't have the intellectual honesty or courage just to concede a point. Once again, you live up to your screen name. Carry on.

SO you're unaware of john durham's findings then..

Look into it.

Why don't you stop dropping names and actually either explain to the readers what YOU know or at least provide a link to support your insinuations? See, you've already displayed a proud willful ignorance when it comes to anyone that provides facts and/or logic that disproves your diatribes, but yet you want others to do your homework for you? As I previously stated, you don't even have the maturity to concede being wrong on one point ... you just detour to another topic and expect everyone to follow suit.

Naa-unnh, toodles. Doesn't work that way. When you can grow a pair and honestly discuss any content I put forth (requires reading on your part), THEN you can drop names and I will take it for granted that you actually understand what you are parroting. Until then, continue to be an asshat, as the chronology of the posts shows.

 

[Monad Portal]

Why don't you stop dropping names and actually either explain to the readers what YOU know or at least provide a link to support your insinuations? See, you've already displayed a proud willful ignorance when it comes to anyone that provides facts and/or logic that disproves your diatribes, but yet you want others to do your homework for you? As I previously stated, you don't even have the maturity to concede being wrong on one point ... you just detour to another topic and expect everyone to follow suit.

Naa-unnh, toodles. Doesn't work that way. When you can grow a pair and honestly discuss any content I put forth (requires reading on your part), THEN you can drop names and I will take it for granted that you actually understand what you are parroting. Until then, continue to be an asshat, as the chronology of the posts shows.

So have you looked into john durhams finding?

 

[Taichiliberal]

Quote Originally Posted by Taichiliberal View Post
Why don't you stop dropping names and actually either explain to the readers what YOU know or at least provide a link to support your insinuations? See, you've already displayed a proud willful ignorance when it comes to anyone that provides facts and/or logic that disproves your diatribes, but yet you want others to do your homework for you? As I previously stated, you don't even have the maturity to concede being wrong on one point ... you just detour to another topic and expect everyone to follow suit.

Naa-unnh, toodles. Doesn't work that way. When you can grow a pair and honestly discuss any content I put forth (requires reading on your part), THEN you can drop names and I will take it for granted that you actually understand what you are parroting. Until then, continue to be an asshat, as the chronology of the posts shows.

So have you looked into john durhams finding?

Christiefan put this Asshat in his place https://www.justplainpolitics.com/s...barely-uses-Russian-oil&p=5003218#post5003218

And here's how I shut down another right wing wonk on a parallel topic https://www.justplainpolitics.com/s...e-overnight-4-19-gallon&p=5000690#post5000690


As the reader can see, this is MAGA Move #5....when they can't defend their first claim or assertion or opinion with facts and logic, then they just move the goal post without EVER admitting error, much less conceding a point. Then, if you don't follow their detour, they just parrot it ad nausea and claim "victory".

As I said previously, this right wing troll just drops a name as if that exonerates him of his first failure. The chronology of the posts clearly shows that he could NOT disprove what i put forth, nor did he have the ability to discuss the content, as he clearly did NOT read it.

Let's watch this right wing troll do EXACTLY as I say here.