Gas Prices Near You?

[KillerGoose]

(06-03-2022, 09:33 AM)masonbengals fan Wrote:  No surprise you would say that. Same guy who wants to trade for it with bad foreign actors instead of producing it ourselves. 

 Europe had the same philosophy. How's that working out ?

 Biden & his team have repeatedly advocated for phasing out fossil fuels. There's no denying that. 

 

He has not been a friend to the O&G industry certainly, but again, the current prices aren't his doing. He also doesn't want them to be high, it polls poorly for him. He would be in a better situation if they weren't high. I, along with a few others on here have said it several times at this point - if you want to assign blame or praise to a political figure for energy commodity prices, it is a misinformed and lazy talking point. The President simply doesn't have enough power to influence the global market that way. 

I have ran a statistical analysis on crude prices in relation to the political affiliation of the President in the past. The data I had went back to the mid 1980's from current day, and the result was no correlation. Roughly 3% of the variation in crude prices from year to year could be explained by political party. Less than 1% of the variation in % of price change could be explained by political party. 

I also did the same exercise with gas prices back to 1993 and the results were the same - there is no correlation to gas price as it relates to political affiliation. The President doesn't have that kind of power.