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SO when YOU made the title "US Oil Producers Fail to Produce", you really meant "US Oil Producers Produce Enough They Are Just Too Greedy And Should Be Nationalized" ?Quote:
Originally Posted by Seran
You have served your title here admirably. I literally don't ever see you losing it at this point.
In your literally first line. "but domestic oil producers in the United States failing to produce."Quote:
Originally Posted by Seran
This is correct.Quote:
Originally Posted by Parkbandit
President Biden announced a ban on any oil or gas imports from Russia this morning in conjunction with the United Kingdoms. The UK imports only 5-8% of its oil from Russia. Domestically, we important less than 200,000 barrels of oil per day from Russia, a number offset by the 30 million barrels of oil our President is making available from the Strategic Oil Reserve.
As expected, commodities traders went into a frenzy and WTI futures briefly surged past 7% before calming as the reality of our complete lack of an oil shortage set in.
Now, what does that mean for the world as the majority of our European allies aren't sharing in the import ban? Very little. The other major oil consumers of the world continue to take deliveries, but it sends a powerful message of solidarity with Ukraine.
Domestically the President has called out the energy conglomerates for not utilizing their existing oil and gas leases and warned them about using this as an excuse to price gouge at the expense of our nation. We shall see what comes next.
Sometimes I read a Seran post just for the laughs, and oh boy did this one deliver!Quote:
Originally Posted by Seran
Even assuming we take your figures at face value (and I'm sure they are way off) 30 million barrels will only last us 150 days at a deficit of 200k barrels a day, after that we now have a DAILY deficit of 200k barrels a day, when gas prices are already over 7 dollars per gallon in certain areas of the country. That's a 1% deficit for us.
I also like how you say "ONLY" imports 5-8% of their oil from Russia. You do know that is quite a significant number right? Even 1% is a significant number.
The places where it is over 7 dollars a gallon is places where those idiots voted to tax gas higher. California deserves it.Quote:
Originally Posted by Tgo01
Unless something drastic changes and soon, there is no way we won't all see 7+ dollars a gallon within the next few months. 10+ dollars a gallon isn't even unthinkable at this point.Quote:
Originally Posted by Gelston
Prices have already jumped in my area 70 cents in less than a week.
Have they tried to blame Trump yet?Quote:
Originally Posted by Tgo01
Of course they have.Quote:
Originally Posted by Methais
“According to energy analysts and experts, President Trump’s reckless decision to pull out of the Iran deal has led to higher oil prices. These higher oil prices are translating directly to soaring gas prices, something we know disproportionately hurts middle- and lower-income people, since a larger chunk of their disposable income goes for gasoline.” -Chuck E. Schumer Sure he said that in 2018, but it wasn't right then.. so why wouldn't he try to use it in 2022?Quote:
Originally Posted by Methais