High Gas Prices? Putin and Trump Did That!

marke

Well-known member
The U.S. fossil fuel industry has dramatically ramped up exports of oil and natural gas in recent years, seeking to profit on the international market and keep prices high at home. The 2015 repeal of a 40-year-old ban on most crude oil exports and the construction of natural gas export terminals on the Gulf Coast has allowed the industry to maximize exports and rake in extraordinary profits while consumers and the climate pay the price.

A Public Citizen analysis of U.S. Energy Information Administration data found that:

  • For crude oil, about 29% of U.S. production in the first six months of 2022 was exported. That is more than double the 12% exported in 2017 and quadruple the 7% exported in 2016, the first full year of unrestricted crude oil exports. In the first six months of 2022, 3.4 million barrels per day of crude oil were exported from the U.S., nearly three times as much as in 2017, when about 1.2 million barrels per day were exported.
  • For natural gas, more than 20% of U.S. production in the first six months of 2022 was exported. That was up from 11.5% in 2017 and 6.6% in 2015. An average of nearly 591 billion cubic feet of natural gas per month―including 336 billion cubic feet of liquefied natural gas―was exported from the U.S. in the first six months of 2022. Total natural gas exports in 2022 were more than double 2017 levels.
  • In pushing to lift the crude oil export ban in 2015, the fossil fuel industry greatly oversold the purported consumer benefits. Unregulated exports have left U.S. consumers even more exposed to volatile global energy markets.
  • Unprecedented exports of natural gas contribute directly to soaring U.S. natural gas prices tying the prices families in the U.S. pay for heating their homes to global calamities. Natural gas exports have radically upended domestic energy markets and are the primary factor in record price increases for both natural gas and electricity, fueling higher levels of energy poverty and unleashing energy insecurity for tens of millions of American households.

More at the link
Lefties still blame high gas prices on oil companies still in business in spite of the left's crushing regulations imposed in efforts to eliminate fossil fuels from a brave new socialist fascist world without God, or individual freedoms and prosperity.
 

User Name

Greatest poster ever
“It’s interesting the coordinated response we’ve got from the Saudis and the Russians in denying the WSJ report and putting a floor under the oil selloff,” said John Kilduff, founding partner at New York energy hedge fund Again Capital. “There’s another two weeks to the OPEC+ meeting and they’ve decided there's too much at risk on the price front if they keep mum till then.”

 

marke

Well-known member
“It’s interesting the coordinated response we’ve got from the Saudis and the Russians in denying the WSJ report and putting a floor under the oil selloff,” said John Kilduff, founding partner at New York energy hedge fund Again Capital. “There’s another two weeks to the OPEC+ meeting and they’ve decided there's too much at risk on the price front if they keep mum till then.”

Poor Biden. He madly shut down American energy concerns and went hat in hand to thugs in Russia, Iran, and Saudi Arabia to beg them to bail America out of its energy bankruptcy. Trump may have ruffled a lot of feathers in his day, but he was never that stupid.
 

User Name

Greatest poster ever
Poor Biden. He madly shut down American energy concerns and went hat in hand to thugs in Russia, Iran, and Saudi Arabia to beg them to bail America out of its energy bankruptcy. Trump may have ruffled a lot of feathers in his day, but he was never that stupid.
You totally missed the point, as is usual for you. Oil prices are dropping, but Saudi Arabia and Russia are conspiring to prop oil prices up.

 

marke

Well-known member
You totally missed the point, as is usual for you. Oil prices are dropping, but Saudi Arabia and Russia are conspiring to prop oil prices up.

I was making a more significant point by highlighting the fact that Biden devastated American energy independence and now is going hat-in-hand begging thugs in rogue nations to bail America out of energy bankruptcy for the benefit of poor Americans struggling to deal with the emerging energy crisis.
 

User Name

Greatest poster ever
Too late. The midterms are over and the Republicans took the House.
So what? Biden is still president:

biden_i_did_that_funny_anti_joe_biden_sticker-r0b19cc86de1744268dc9fcb0cb430572_08m34_1080.webp
 

annabenedetti

Well-known member
Biden shut down the Keystone Pipeline all by his stupid crooked self.

View attachment 4763

You're running a false narrative.

The Keystone XL crude oil pipeline wasn’t yet operational when it was canceled in 2021, and wasn’t expected to be running until 2023.

Even if the Keystone XL pipeline had been completed, the amount of oil it was designed to transport would have been a drop in the bucket for U.S. demand, experts noted. The U.S. used nearly 20 million barrels of oil a day last year, while global consumption of oil was near 100 million barrels. The pipeline would have contributed less than 1% to the world supply of oil, according to AP reporting.

“The total volume of additional supply is negligible in a market that uses 100 million barrels of oil every day,” Jason Bordoff, founding director of the Center on Global Energy Policy at Columbia, said in an email statement to the AP.
 

marke

Well-known member
You're running a false narrative.

The Keystone XL crude oil pipeline wasn’t yet operational when it was canceled in 2021, and wasn’t expected to be running until 2023.

Even if the Keystone XL pipeline had been completed, the amount of oil it was designed to transport would have been a drop in the bucket for U.S. demand, experts noted. The U.S. used nearly 20 million barrels of oil a day last year, while global consumption of oil was near 100 million barrels. The pipeline would have contributed less than 1% to the world supply of oil, according to AP reporting.

“The total volume of additional supply is negligible in a market that uses 100 million barrels of oil every day,” Jason Bordoff, founding director of the Center on Global Energy Policy at Columbia, said in an email statement to the AP.
Bankrupting one coal company hurts thousands of Americans. Bankrupting dozens of coal companies devastates a whole nation. The question remains: "What were Obama and Biden thinking?" Shutting down the Keystone Pipeline hurt dozens of businesses and thousands of workers, and subsequent restrictions on oil drilling are hurting millions of Americans, so we ask, "What in the world are these morons trying to stupidly think?"
 

annabenedetti

Well-known member
Bankrupting one coal company hurts thousands of Americans. Bankrupting dozens of coal companies devastates a whole nation. The question remains: "What were Obama and Biden thinking?" Shutting down the Keystone Pipeline hurt dozens of businesses and thousands of workers, and subsequent restrictions on oil drilling are hurting millions of Americans, so we ask, "What in the world are these morons trying to stupidly think?"

You were talking about a non-existent pipeline, not coal, so how did canceling Keystone XL drive up gas prices?
 

marke

Well-known member
You were talking about a non-existent pipeline, not coal, so how did canceling Keystone XL drive up gas prices?
Canceling the Keystone Pipeline alone damaged dozens of businesses and destroyed or damage thousands of livelihoods but that was not all Biden did to throttle American energy and drive up fuel costs. Here is more info:




Biden’s policies clearly drove gas prices up, but Democrats offer only bogus solutions

By

Post Editorial Board

November 9, 2021 7:55pm

US gasoline prices are spiking.Bloomberg via Getty Images

MORE ON:GAS PRICES

Now that OPEC has rejected President Joe Biden’s plea to pump more, 11 Democratic senators have revived a lame old “answer” to soaring gasoline prices: opening up the Strategic Petroleum Reserve. More, they want him to ban crude oil exports.

Not a word about actually boosting domestic production, which Team Biden has been actively discouraging.

The senators know that gas prices averaging their highest level since 2014, up $1 a gallon since last November, is trouble. But they don’t have the guts to point to the cause.

By the end of 2019, President Donald Trump’s policies had made America a net energy exporter, producing 13 million barrels of oil a day. But to Democrats, that’s awful.

Biden’s disastrous energy policies began his first day with the killing of the Keystone XL pipeline. He’s also nixed new oil and gas leasing on federal land and waters and imposed hefty new regulations on domestic energy production.

All that is supposedly to save the planet, though that’s hard to square with begging OPEC to do more.

The latest: The White House is looking at canceling Michigan’s L5 pipeline — which would deepen the shortage and kill thousands of jobs across the Midwest.

With winter coming, the shortages (plus Bidenflation in general) will mean hefty heating bills. And opening the Strategic Petroleum Reserve has never made a major difference.

Count this nightmare as just one more of Democrats’ ideology-driven policies slamming average folks.
 
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