Gas stations in Washington reprogram pumps to prepare for $10-a-gallon fuel as Bidenflation sends av

Yes, it did. And amazingly the oil prices didn't do much until November 3, 2020. Spin it all you want but it's very obvious that the market believes that Biden's policies are bad. That belief probably has a lot to do with Biden's policies actually being bad.

 

The TDS is strong here.

 

nope, the shortage is overseas, nothing to do with the USA

other than Trump was the one that got them to lower production

 

sorry to hear that

 

How did the overseas shortage suddenly start on 11/3/2020?

 

what policy change happened under Trump on 11-3-2020

 

The policy that the next POTUS promised, via campaign pledge, to introduce a moratorium on new oil and gas leasing on federal lands and waters. He also suggested the possibility of a royalty increase. Let's not forget the promise of halting implementation of a leasing program in the Arctic National Wildlife Refuge and effectively suspending new leases, contracts, or drilling permits. And who would have guessed that he would withdraw the permit for the Keystone XL pipeline (yes, everyone guessed). The market is forward looking. That is what they saw and that is what he did.

 

I doubt we will get to $10 per gallon. Demand will be on life support well before that.

 

Based on my rough monthly consumption, it would need to be somewhere in the $34 range per gal before it would negate the benefit of not paying student loan payments currently. So overall, I am ahead of the game due to Biden. Not unsympathetic to others' plights, but in terms of my overall economic circumstances, Biden's time in office has been a net plus to the budget.

 

Prices change due to the oil commodities market.

Prices will rise when it appears there will be a shortage. There is no waiting around for an actual shortage.

 

To change the price of oil, one would have to produce enough to affect the world price.

That would be a MAJOR amount of oil. It would have to be a percentage of the total world production.

There is no indication that the arctic areas would produce enough oil to affect the world price, certainly not for years.

Also, remember that Trump wanted the amount of oil being produced to DECREASE so that oil price would go back UP.

For a while there, oil price was so low that companies were losing money by having to store it. Oil companies were desperate to get prices back high again. Smaller oil companies in America were going out of business.

That price rise is what Trump was working to do.

Also, oil price is only one component of gasoline price.

 

I'm not saying it's Joe Biden's fault, but I'm going to love watching the confused look on his face when his agenda that isn't really his grinds to a halt after the November elections.

 

First, yes, gas prices will never go down because people keep making stupid choices to use too much gas to fuel vehicles that consume too much gas.
Second, nope.

 

Praying for failure in America!

 

Trump worked hard to cause the price of oil to rise, because those low oil prices were bankrupting smaller US oil companies.

Now you are surprised that the price of oil went up?

Do you know where gas comes from?

 

Diesel was around $4.25 a gallon then. $5.59 a gallon now.....

 

2008 was the Bush Crash of our economy.

Is THAT what you are accusing Biden of not producing???

 

You're still peddling your "but Trump" to anyone who will listen. You are not misinformed. You know exactly what you're doing and you keep doing it, which speaks volumes.

Trump reduced the supply because the price per barrell has dropped negative numbers. You've been corrected on this very forum about this for 201 times by multiple people. You're looking foolish and irrelevant and oddly enough, you'll continue. Please move on from Trump. Your president is Biden and if you want to talk about a shitshow of an administration, the Biden admin will keep you busy posting.

 

That's not a correction. I pointed out the same thing.

But, the fact of the matter is that the claims of low priced gas during the period where oil was essentially free is NOT A REPRESENTATION of what gas could possibly cost today.

Further, the amount of new oil that the US could produce is not enough of a percent of the world supply to make any significant difference in oil price - and certainly not in gas price, as oil is only part of the price of gas.

Further, the desire for new pipelines has been driven by the oil company desire to move oil from the north central region to ports so that it can be sold at the HIGHER world market prices - RAISING the price of oil in the US central region.

You say "**** show", because you have nothing else to say.

 

I stated what diesel was in 2008 (at an all time high for that period), based on the other poster's meme, and stated what diesel is now. I said NOTHING about what Biden is or is not producing.

You need to stop reading things into what I post, and read what I actually post.

 

You posted that diesel has gone up by $1.34 since 2008.

That deserves an explanation, especially on this thread where people want to accuse Biden for gas prices - while ignoring issues such as Trump's work to raise world oil price, supply chain issues for products needed in making gas/diesel, oil company profits, etc.

 

and you're still peddling your but Biden to anyone that will listen

what I said it fact, you just don't like the way it sounds

but really this has to do with what is going on overseas, let's be honest

but what this has shown is that American oil doesn't equal cheap oil, what it does mean though is we do not have long lines and shortages while they reduce supply overseas - American oil will charge you what ever they can get away with and as long as foreign supply is low, you will pay more

 

Democrats: Creating new jobs!

 

lol...biden is president...we're in year 2. Stop acting like he's irrelevant to this topic.

It was fact...over 2 years ago. That's what's factual about what you're peddling.

What's also factual about what you're peddling is that it's irrelevant. It's also a fact that you've been shown this over and over. It's also, apparently, a fact that you will continue to peddle this as if it's relevant despite knowing that it isn't. Your party above all else mentality will not allow you to be honest.

lol.....and what's going on here.

and you'll blame trump regardless of what the truth actually is.

 

and Trump was President, not sure I see your point

the price of oil is higher, cause of reduced supply overseas - American oil is plenty, they are just charging more for it... cause they can

maybe the government should take over drilling for oil, use the profits to pay off our debt

this is Capitalism, if the right wants Government run oil, let us know