oldschool Posted June 7, 2022 Report Share Posted June 7, 2022 Good article. https://thewelcomeparty.substack.com/p/has-the-far-left-peaked?s=r Link to post Share on other sites More sharing options...
Starkiller Posted June 7, 2022 Report Share Posted June 7, 2022 49 minutes ago, headhunter said: Has Biden made a positive or negative impact with fuel prices and inflation? Should be as simple as that. Biden’s actions have been of minimal impact on inflation. It’s a global supply chain issue causing most of it and oil prices are set by Wall Street. headhunter 1 Link to post Share on other sites More sharing options...
oldschool Posted June 7, 2022 Report Share Posted June 7, 2022 OIl prices are not set by wall street. They are set by OPEC. Oil is a global commodity. There is literally nothing any U.S President can do to drive the price of oil down aside from going to Saudi Arabia and other Members of OPEC and leaning on them to to produce more and drop prices. Even if you opened up all the reserves in the U.S it would take years for that move to impact the price of oil and even then, it would likely be minimal unless the U.S was energy independent. Link to post Share on other sites More sharing options...
Starkiller Posted June 7, 2022 Report Share Posted June 7, 2022 Oil supply is set by OPEC. That has the greatest influence on prices. But the prices are set by commodities traders. Link to post Share on other sites More sharing options...
headhunter Posted June 7, 2022 Report Share Posted June 7, 2022 Nobody is talking about refineries. That's where half of the price of our gas comes from and ours are old and getting torn down. New ones are not being built because of "green" politics and now add the big push for EV the price of gas will only get worse. It's gonna be like mad max Starkiller, and oldschool 2 Link to post Share on other sites More sharing options...
Starkiller Posted June 7, 2022 Report Share Posted June 7, 2022 The price of gas is effectively set by the price oil. Refineries are a more or less constant cost unless one is shut down due to unforeseen circumstances. Further, Biden has no influence over oil refiners. And the refiners don’t want to build out more capacity because doing so would only eat into their profit. They didn’t open new refineries under Trump. The real issue with this argument is you don’t know what you’re talking about. IsntLifeFunny, and Jerry Blair 2 Link to post Share on other sites More sharing options...
headhunter Posted June 7, 2022 Report Share Posted June 7, 2022 https://seekingalpha.com/news/3845705-no-new-refineries-likely-ever-built-again-in-the-us-chevron-ceo-warns Link to post Share on other sites More sharing options...
headhunter Posted June 7, 2022 Report Share Posted June 7, 2022 (edited) 6 minutes ago, Starkiller said: The price of gas is effectively set by the price oil. Refineries are a more or less constant cost unless one is shut down due to unforeseen circumstances. Further, Biden has no influence over oil refiners. And the refiners don’t want to build out more capacity because doing so would only eat into their profit. They didn’t open new refineries under Trump. The real issue with this argument is you don’t know what you’re talking about. You never worked in the energy sector. Refineries do effect our gas prices. Policies are putting a strangle hold on the oil industry. Guarantee once Biden gets out of office we will see inflation lessen and gas prices lowered and the stock market explode in a good way. Edited June 7, 2022 by headhunter Link to post Share on other sites More sharing options...
headhunter Posted June 7, 2022 Report Share Posted June 7, 2022 Saying our government doesn't have an impact on our gas prices is absolutely ridiculous when the government is trying to get rid of our use of oil. The only reason the keystone pipeline was canceled was so warren buffet can transport it by rail and not lose out on his money from a pipeline. Has nothing to do with the environment. WG53 1 Link to post Share on other sites More sharing options...
Starkiller Posted June 7, 2022 Report Share Posted June 7, 2022 (edited) 6 minutes ago, headhunter said: You never worked in the energy sector. Refineries do effect our gas prices. Policies are putting a strangle hold on the oil industry. Guarantee once Biden gets out of office we will see inflation lessen and gas prices lowered and the stock market explode in a good way. I don’t need to have worked in the energy sector to understand the economics of it. Refining is a more or less consistent cost and rarely impacts the cost of gasoline. The fluctuations in the cost of gas is almost entirely based on oil prices set by Wall Street commodities traders and reflect global economic activity vs oil supply. Edited June 7, 2022 by Starkiller Link to post Share on other sites More sharing options...
Rogue Posted June 7, 2022 Report Share Posted June 7, 2022 1 hour ago, LongTimeFan said: Yeah, there are no articles you can research on your own that explain what Biden policies have contributed to rising gas prices. Lol Yeah, you don't have a mind of your own either. Good job fool. WG53 1 Link to post Share on other sites More sharing options...
headhunter Posted June 7, 2022 Report Share Posted June 7, 2022 (edited) 16 minutes ago, Starkiller said: I don’t need to have worked in the energy sector to understand the economics of it. Refining is a more or less consistent cost and rarely impacts the cost of gasoline. The fluctuations in the cost of gas is almost entirely based on oil prices set by Wall Street commodities traders and reflect global economic activity vs oil supply. https://www.thebalance.com/loss-of-refineries-a-factor-in-high-gas-prices-5272489 https://www.usatoday.com/story/money/2022/06/07/record-gas-prices-not-oil-shortage-refinery-capacity/7529563001/?gnt-cfr=1 https://www.grid.news/story/economy/2022/05/28/the-real-reason-gas-is-so-damn-expensive-dont-just-blame-oil-prices-blame-refineries-too/ https://www.google.com/amp/s/www.businessinsider.com/why-gas-prices-so-high-crude-oil-market-crack-spreads-2022-5%3famp Edited June 7, 2022 by headhunter Link to post Share on other sites More sharing options...
Starkiller Posted June 7, 2022 Report Share Posted June 7, 2022 1yardshort 1 Link to post Share on other sites More sharing options...
Rogue Posted June 7, 2022 Report Share Posted June 7, 2022 9 minutes ago, headhunter said: https://www.thebalance.com/loss-of-refineries-a-factor-in-high-gas-prices-5272489 https://www.usatoday.com/story/money/2022/06/07/record-gas-prices-not-oil-shortage-refinery-capacity/7529563001/?gnt-cfr=1 https://www.grid.news/story/economy/2022/05/28/the-real-reason-gas-is-so-damn-expensive-dont-just-blame-oil-prices-blame-refineries-too/ I do appreciate your effort at discourse. It's nice to see someone making a case rather then blurting out political rhetoric. It's true refining is down and is a factor in costs, but oil still accounts for the majority of the costs. Quote Since gas is extracted from crude oil through a process called refining, and crude accounts for more than half the cost of gas, the oil market remains a major factor in high gas prices. Also, since this is supposed to be about Biden, Quote U.S. refining capacity is down by 1 million barrels of crude oil a day since the summer of 2020, tumbling to 17.94 million daily barrels on May 6, according to data from the Energy Information Administration (EIA).2 Fire, storms, and declining demand early in the pandemic forced six refineries to go offline in 2020, the EIA said, dropping the total number to 129. Note things not Biden related. You should actually read your articles. None of them mention Biden policies as to why refinery capacity is down, but they are informative articles. IsntLifeFunny 1 Link to post Share on other sites More sharing options...
Rogue Posted June 7, 2022 Report Share Posted June 7, 2022 Why is it no one mentions Venezuela's fuel US import ban and Iran's sanctions as part of the reason why oil prices have risen? Oh, that's right. Whether you think any actions are justified or not, just like with Russia, it HAS AN EFFECT ON OIL PRICES. This is what is so frustrating about the US population. They are largely ignorant as to the complexities of these issues. It's easier to blame a president than it is to understand things. oldschool 1 Link to post Share on other sites More sharing options...
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