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Biden last year was crying companies were making to much and wanted to tax them to lower the prices.
Presidents do have some control. Draining the reserves to lower prices is the perfect example. Threatening taxes to lower prices also shows at least they think he can control prices.
The US was energy independent. That does affect the price of oil. We would not be subjected to the market prices and having to buy oil from terrorist countries. We aren't forced to buy their oil if we have our own.
The US was energy independent. That does affect the price of oil. We would not be subjected to the market prices and having to buy oil from terrorist countries. We aren't forced to buy their oil if we have our own.
When was the U.S actually energy independent? FWIW the U.S is the Worlds largest oil producer and is currently producing crude oil at all time highs
we were never energy dependent , we became an exporter of our oil because our WTI oil can not be refined here in any great quantity.
all our refineries with few exceptions were built way before we produced much oil here . they are designed to handle the opec stuff and north sea brent .
building refineries is not only incredibly expensive and makes our oil uncompetitive but it can take a long long time .
no one wants to pay what that oil would have to sell for to build new refineries to process our oil
Oil prices are Soley determined by the stock brokers of wall street. Gas prices are based off of those prices plus if issues with refineries or anything pop up.
Anybody saying its the president is just trying to spew political bull.
Oil prices are Soley determined by the stock brokers of wall street. Gas prices are based off of those prices plus if issues with refineries or anything pop up.
Anybody saying its the president is just trying to spew political bull.
those prices are not set by wall street , they are determined by investors around the world.
Guyanese , US, and Iranian oil production. US and Iranian oil production is up almost 4 million barrels per day since the start of 2022. Guyana added another 500K/day. This has forced OPEC to stop trying to maintain prices by cutting production. Russia is also producing at full capacity because they're not getting market rate for their oil and they need the foreign currency.
All I know gas not too long ago was less than 1.99 when Trump was in office. Oh the good old days.
Covid shut everything down, are you giving him credit for handling that as well as he did?
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