03-03-2022, 05:51 PM
First off, congrats to Stewy, both for the very in depth and informative post, but also the complete destruction of the premise of this thread.
As you state, oil is a commodity like any other, and thus subject to the vagaries of the market. Where Biden has put us in a bind is suspension of projects already in development (keystone for example) and halting permits for many others. As a commodity, oil is subject to speculation. When the leader of the world's largest producer literally states he's going to curtail production that alone is enough to drive the price of oil up. How do we know that Biden made a huge blunder and is now paying the price? Because he's already begging others to increase production, something he would not have had to do if he'd refused to play politics with our sources of energy.
We all know that gas prices jump instantly and decrease slowly, that certainly can't be controlled by the POTUS. But the POTUS can, and in this case did, influence the market with their decisions regarding the O&G industry. I just paid $5.60 a gallon this morning. If I was in my twenties, when I often had to calculate just how much I could use my car until my next paycheck because I couldn't afford to fill my tank on a whim, the current gas prices would be absolutely crippling. I can only imagine how much it's affecting low income families.
Biden created this mess, and now he refuses to own it. Russia acting as they are is simply the biggest example, among many, of why the US needs to be energy independent, as well as being able to supply our allies in situations such as we are currently facing. Invest in green energy at the same time, great, but don't curtail production until the green energy can compensate for the subsequent shortfall your creating.
As you state, oil is a commodity like any other, and thus subject to the vagaries of the market. Where Biden has put us in a bind is suspension of projects already in development (keystone for example) and halting permits for many others. As a commodity, oil is subject to speculation. When the leader of the world's largest producer literally states he's going to curtail production that alone is enough to drive the price of oil up. How do we know that Biden made a huge blunder and is now paying the price? Because he's already begging others to increase production, something he would not have had to do if he'd refused to play politics with our sources of energy.
We all know that gas prices jump instantly and decrease slowly, that certainly can't be controlled by the POTUS. But the POTUS can, and in this case did, influence the market with their decisions regarding the O&G industry. I just paid $5.60 a gallon this morning. If I was in my twenties, when I often had to calculate just how much I could use my car until my next paycheck because I couldn't afford to fill my tank on a whim, the current gas prices would be absolutely crippling. I can only imagine how much it's affecting low income families.
Biden created this mess, and now he refuses to own it. Russia acting as they are is simply the biggest example, among many, of why the US needs to be energy independent, as well as being able to supply our allies in situations such as we are currently facing. Invest in green energy at the same time, great, but don't curtail production until the green energy can compensate for the subsequent shortfall your creating.
