U.S. gas prices plunge toward $3 a gallon - Thanks Joe Biden!

Author: IwantRooseveltagain

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#61
YouFound_Lxam
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Which wouldn’t fix anything - wrong  global warming is the real threat
"The presentation of climate change to children is far more alarming and less nuanced than what adults are exposed to. Stories of the coming climate apocalypse have become commonplace in schools, textbooks, churches, movies and even children’s books. A prominent example is the book “Our House Is on Fire: Greta Thunberg’s Call to Save the Planet,” a picture book aimed at ages 3-8.  The book’s overarching message is summed by this statement in the book: “There might not be a world to live in when she grows up. What use is school without a future?”

" The climate “catastrophe” isn’t what it used to be. Circa 2013 with publication of the IPCC AR5 Report, RCP8.5 was regarded as the business-as-usual emissions scenario, with expected warming of 4 to 5 oC by 2100. Now there is growing acceptance that RCP8.5 is implausible, and RCP4.5 is arguably the current business-as-usual emissions scenario. Only a few years ago, an emissions trajectory that followed RCP4.5 with 2 to 3 oC warming was regarded as climate policy success. As limiting warming to 2 oC seems to be in reach (now deemed to be the “threshold of catastrophe”),[i] the goal posts were moved in 2018 to reduce the warming target to 1.5 oC. Climate catastrophe rhetoric now seems linked to extreme weather events, most of which are difficult to identify any role for human-caused climate change in increasing either their intensity or frequency.
The main stream media is currently awash with articles from prominent journalists on how the global warming threat less than we thought.  Here are some prominent articles:
Yea climate change isn't what you think it is. Do your research. 

It would cause the US to go into ruin - wrong  Like when we stopped using whale oil and kerosene?
No, like 75% of the U.S. energy source gone.

Everything you just said is wrong.

No they don’t - wrong  just Google it
No its not. 

You need to learn to provide evidence.



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#62
IwantRooseveltagain
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@YouFound_Lxam
You need to learn to provide evidence.
JC, in the age of information, ignorance is a choice.


Reality: Necessary Perspective: There are currently nearly 100,000 producing wells on federal lands, and the 9,000 permits awaiting a process to start exploration or future production are a small fraction of the overall federal well count. Lengthy Process: Wells and leases are not like faucets and spigots.Mar 24, 2022
https://www.api.org › 2022/03/24
Drilling Down on Federal Leasing Facts - American Petroleum Institute


#63
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Reality: Necessary Perspective: There are currently nearly 100,000 producing wells on federal lands, and the 9,000 permits awaiting a process to start exploration or future production are a small fraction of the overall federal well count. Lengthy Process: Wells and leases are not like faucets and spigots.Mar 24, 2022
https://www.api.org › 2022/03/24
Drilling Down on Federal Leasing Facts - American Petroleum Institute

This only proves that we produce oil. This doesn't disprove what I said. 
What I said is still true.
#64
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Lengthy Process,
Thanks in large part to government centralized bureaucracy.
The average EIS completion time across all agencies is currently at 4.5 years, with some agencies taking significantly longer.

#65
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@ILikePie5
You realize the opposite holds true right? How can you quantify how Biden brought prices down? 
I’m not the one claiming Biden’s policies have made any significant impact

I know how the futures market operates. It’s basic financial market movement tbh. Any and all information is reflected in the market if you’re a believer in the EMH.
We’re not talking about whether his policies theoretically made some impact in some way. Your claim Is that his policies are largely responsible for the prices we see today, which means that his actions or inactions are primarily driving the market. Oil is a huge global industry, yet all you can point to are insignificant changes that hardly make any difference.
#66
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@YouFound_Lxam
Biden has ruined the economy, causing food prices, and gas prices to skyrocket.
So is it just coincidence that global food and gas costs skyrocketed during the same time period? Please enlighten me.
#67
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insignificant changes that hardly make any difference.
I guess Biden thought they were significant enough to reverse Biden foreign policy with Venezuela in late 2022. It apparently just was not important enough to do that in early 2020. Probably because Biden thought he could somehow keep Florida in 2020, so he delayed publicly helping out socialist dictator Maduro until after Florida turned beet red.

Thanks Joe! Better late than never for oil relief though; even if it comes from the bloody whip of a socialist dictator.
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#68
IwantRooseveltagain
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I guess Biden thought they were significant enough to reverse Biden foreign policy with Venezuela in late 2022. It apparently just was not important enough to do that in early 2020.
Let’s be clear you jackass. Trump blocked oil from Venezuela. When Biden took over, his state department needed time to come up with a new policy that would allow oil to flow without helping the rogue government there.

“The decision grants broader rights for the last big U.S. oil company still operating in U.S.-sanctioned Venezuela. However, it restricts any cash payments to Venezuela, which could reduce the oil available to export”

“License terms are designed to prevent state-run oil firm Petróleos de Venezuela, known as PDVSA (PDVSA.UL), from receiving proceeds from Chevron's petroleum sales, U.S. officials said. The license lasts for six months and will be automatically renewed monthly thereafter, the U.S. Treasury said”



#69
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his state department needed time to come up with a new policy that would allow oil to flow without helping the rogue government there.
Yep, took a whopping 2 years and a midterm to get them to come up with "the plan".
The "benefits" of having a centrally planned economy.

However, it restricts any cash payments to Venezuela, which could reduce the oil available to export”
Some Socialist dictator slave labor oil is better than no socialist dictator oil. You don't see Maduro complaining for sure. He signed that puppy with glee. Maduro played Biden hard and fast with the cards he had.

#70
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@Greyparrot
I guess Biden thought they were significant enough to reverse Biden foreign policy with Venezuela in late 2022.
Having the ability and responsibility to take some action is not the same thing as having the power to make any significant difference.
#71
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@Double_R
Do you think Biden made a mistake with the policy reversal?
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#72
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Some Socialist dictator slave labor oil is better than no socialist dictator oil. You don't see Maduro complaining for sure. He signed that puppy with glee. Maduro played Biden hard and fast with the cards he had.
You’re talking out of your ass as usual 

#73
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Do you think Biden made a mistake with the policy reversal?
#74
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@Double_R
I’m not the one claiming Biden’s policies have made any significant impact
So what brought prices down lol.

We’re not talking about whether his policies theoretically made some impact in some way. Your claim Is that his policies are largely responsible for the prices we see today, which means that his actions or inactions are primarily driving the market. Oil is a huge global industry, yet all you can point to are insignificant changes that hardly make any difference.
Insignificant changes?? Talking about the Green New Deal, actively promoting EVs, etc all has an impact on future profits. You don’t understand how the futures market works, which I don’t blame you for cause you’re not in Finance.

The oil market is dominate by OPEC, Russia, and the US. Biden already doesn’t want future permits in the US. He went to OPEC in the form of the Saudis and apologized for the Kashoggi thing. Then he went to the Venezuelan socialist dictator to beg for oil.
#75
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@ILikePie5
Since all the usual sheep can't answer, I will ask you.

Do you think Biden made a mistake with the policy reversal?
#76
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Also, are you surprised I discovered the AVERAGE time to complete a EIS is about 4 and a half years?

I knew it was long but I had no idea the government was THAT slow.
#77
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@Greyparrot
Do you think Biden made a mistake with the policy reversal?
I don’t pay very much attention to what happens in Venezuela, so I couldn’t say one way or another.

What does this have to do with our conversation?
#78
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@ILikePie5
So what brought prices down lol.
Supply and demand

Insignificant changes?? Talking about the Green New Deal, actively promoting EVs, etc all has an impact on future profits.
Talking about the green new deal has an impact on future profits? What?

Do you even know what the green new deal is?

Once again, no one is claiming his policies don’t have *an* impact. We’re talking about what that impact has been vs the impact of other factors, like the war in Russia or the global supply chain being disrupted due to COVID. 


#79
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@Double_R
I don’t pay very much attention to what happens in Venezuela, so I couldn’t say one way or another.
Are you even paying attention to the OP then? Cause the reversal of the policy definitely impacted the price on oil futures trading.


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#80
IwantRooseveltagain
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@ILikePie5
So what brought prices down lol.
Read the newspaper genius. China is in another Covid lockdown. Demand for oil there is anticipated to decrease. Several refineries in the US came back on line.
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#81
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I knew it was long but I had no idea the government was THAT slow.
It’s not just the government dummy. There are lawsuits that have to be litigated.

Imagine if someone wanted to drill for oil next to your house ( or in your case, your mother’s house) would she just let it happen?
#82
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@Greyparrot
Since all the usual sheep can't answer, I will ask you.

Do you think Biden made a mistake with the policy reversal?
He was stuck between a cliff and a lion. I can’t tell which was worse lol
#83
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He was stuck between a cliff and a lion. I can’t tell which was worse lol.
Fair enough. I guess in 2023 Ukraine gets a Democracy and Venezuela can go to hell.
#84
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@Double_R
Supply and demand
Which specifically?

Talking about the green new deal has an impact on future profits? What?
Yes, it does, especially when there’s a Democratic trifecta federally.

Do you even know what the green new deal is?

Once again, no one is claiming his policies don’t have *an* impact. We’re talking about what that impact has been vs the impact of other factors, like the war in Russia or the global supply chain being disrupted due to COVID.

War in Russia is still happening lol. Supply chain is still bad lol. Both affect oil prices too. Russia wouldn’t have invaded under Trump. And supply chain would be the same or better than it was now under Trump. So yes, Biden did cause them in an indirect fashion, as well as a direct fashion to his opposing permits, supporting the GND, etc.
#85
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@Greyparrot
Are you even paying attention to the OP then? Cause the reversal of the policy definitely impacted the price on oil futures trading.
The point of the OP was that you can’t have it both ways. You can’t blame Biden for high gas prices merely because he is the president, and then when prices go down claim he had nothing to do with it.
#86
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You can’t blame Biden for high gas prices merely because he is the president, and then when prices go down claim he had nothing to do with it.

Who did that? Seems like you are tilting at windmills again. Haven't seen anyone who claimed this.
#87
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Imagine if someone wanted to drill for oil next to your house ( or in your case, your mother’s house) would she just let it happen?
Yeah, that must be the reason for the 4.5 average year wait for new oil drilling. Couldn't possibly have anything to do with government incompetency trying to centrally plan an economy for the entire country.
#88
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@ILikePie5
Which specifically?
“Prices are going down because demand for oil and gas is falling as countries brace for recession, coronavirus outbreaks in China threaten major financial disruption and drivers cut back on gas-guzzling as they try to save money to cover skyrocketing mortgage payments and stock market losses.

Earlier worries that sanctions on Russian oil would create a shortage in supply and send prices soaring toward the end of the year have, for now at least, given way to ailing economies and jittery financial markets.

“We’re heading into serious recession in Europe and further economic slowdown in the U.S. as people struggle with high interest rates and worry about their personal wealth and savings,” said Ben Cahill, an energy security analyst at the Center for Strategic and International Studies. “Add it all up and it creates a bleak picture for oil demand. Prices are reflecting that.”

Also helping keep prices low at the moment are some key U.S. oil refineries that returned to churning out gasoline after months of being out of commission for maintenance and repairs.

But just as big a factor is the turmoil in China. As its leaders signal that new coronavirus lockdowns are imminent, touching off protests throughout the country, the expected economic fallout has turned oil traders bearish.”

Talking about the green new deal has an impact on future profits? What?
Yes, it does, especially when there’s a Democratic trifecta federally.
So essentially, your argument is that the entire oil trading market is full of morons.

The green new deal isn’t even legislation, it’s a proposal for how we approach various aspects of energy and food consumption as a society. There isn’t one hard policy proposal in it, and if it came up for a vote stands no real chance of gaining majority support, mostly because of the stigma created around it by idiots who don’t even know what it is and right wing propaganda.

The idea that this is having any significant effect on gas prices is patently absurd.

Russia wouldn’t have invaded under Trump.
You have absolutely zero evidence for this assertion, and it’s just plain stupid. Trump spent 4 years licking Putin’s balls. We have no reason to believe Putin held back on anything he wanted because he was afraid of the fawning manchild.

A far better explanation is that Putin waited because he was hoping for a Trump 2020 victory where he was confident he could get Trump to pull the US out of NATO. We have every reason to believe Putin would have been optimistic about this outcome if Trump won and Putin would have clearly had an easier time under that scenario.

And supply chain would be the same or better than it was now under Trump.
Again, absolutely zero evidence of this.

#89
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@ILikePie5
The Inflation Reduction Act includes an estimated $370 billion over 10 years to cut greenhouse gas (GHG) emissions and accelerate the adoption of renewable energy sources. The bill aims to reduce demand for fossil fuels and steer both consumers and utilities toward renewable energy sources such as wind and solar power.

The legislation targets a roughly 40% reduction in GHG emissions below 2005 levels by 2030 and would be the most far-reaching climate legislation in the United States to date. President Biden set a goal of cutting emissions in half by 2030. He called the legislation a major step toward his target.

Not sure why they chose to misname the bill like that, but guess it fooled enough people to matter.
#90
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