Admit you voted for Biden

[KillerGoose]

(06-14-2022, 08:54 AM)Sled21 Wrote: Only in the Bizzaro World of the left is cutting production of oil not tied to gas prices. Even if you say gas is a global issue, when you cut supply in a country like the US, that just means less on the market, which means prices go up. Biden and his policies are wholly responsible for energy cost increases. 

Biden and his policies are not wholly responsible. Biden also didn't slash production - Trump did. You may remember that in April of 2020, oil prices went negative. This was because oil companies were having to pay other companies to store their oil. They had too much, demand had tanked due to COVID. 



In response to this, the United States (and other countries) slashed production to match demand. In the below screenshot, the red circle is April, and Blue is May. Both in 2020, obviously. This is U.S. oil production in bbls per day, from the EIA. Here is the source.



Time and time again, various posters have attempted to engage you on this and you never respond. I've said it before, and I will continue to say it - the take you possess is lazy and ignorant. To the rest of your post, gas is certainly a global issue. The entire globe has high gas prices, aside from Libya and various Middle Eastern countries. This is due to the fact that oil production is easy to slash, but difficult to ramp back up. Demand has recovered much better than anticipated but production hasn't caught up yet. The EIA is also forecasting that the U.S. oil production will top out at 12.8 million bbls per day in 2023, which will be close to the ATH set under the Trump admin. And yes, Russia being sanctioned off from the rest of the world is a huge influence. They were producing between 10 & 11 million bbls per day of crude and since the invasion of Ukraine, have been cut off from the global market. You can pull up a chart of crude prices and watch the massive spike hit as Russia invaded Ukraine. Russia invaded on the 22nd of February, and prices soared in early March, barely a week after the invasion. 

Biden is not a friend to the O&G industry, but he isn't powerful enough to sway a global market like NGLs and crude. No president is.