US Oil Producers Fail to Produce

[Parkbandit]

Yeah, oil is up from January 2021. It's also down some 35-40% from recent highs as a result of your best from President Biden. Yours welcome on his half.

So, Biden's policies doubled the price of oil within a year and a half.. and he was able to drop it down by robbing our reserves and licking every dictator's asshole so the price drops 35% from where he elevated the price to?

You really are retarded.

[time4fun]

Yeah, oil is up from January 2021. It's also down some 35-40% from recent highs as a result of your best from President Biden. Yours welcome on his half.

In fairness here, Presidents have almost no control over oil and gas prices. Biden did release a record amount from our reserves, but even that is just a metaphorical drop in the bucket.

The same with the inflation going on. There's very little of it that we have any actual control over- it's a global phenomenon.

No matter how many bills Democrats falsely imply will lower inflation, there's really only so much that can be done

[Seran]

In fairness here, Presidents have almost no control over oil and gas prices. Biden did release a record amount from our reserves, but even that is just a metaphorical drop in the bucket.

The same with the inflation going on. There's very little of it that we have any actual control over- it's a global phenomenon.

No matter how many bills Democrats falsely imply will lower inflation, there's really only so much that can be done

The amount released from the SPR eclipsed the amount of Russian oil our country received and as other countries started receiving much more Russian oil, it pared with other negotiated releases or increases of production actually exceeded the loss of Russian oil on the market. That is why price moves by speculators were overwhelmed by the bearish price route. Not to mention oil companies destroyed demand.

[Parkbandit]

The Dow Jones is also up over ten percent since Biden took office, does that trigger you too?

NEWSFLASH: 10% is not a good return on investment for the DJIA for a year and a half.

[time4fun]

The amount released from the SPR eclipsed the amount of Russian oil our country received and as other countries started receiving much more Russian oil, it pared with other negotiated releases or increases of production actually exceeded the loss of Russian oil on the market. That is why price moves by speculators were overwhelmed by the bearish price route. Not to mention oil companies destroyed demand.

To clarify, when I say it's a drop in the bucket I mean in the grand scheme of things. You're right- they've absolutely lowered oil prices with this (and the increase in imports), but it's not sustainable and so only benefits for a short period of time.

Sorry for not having been more clear about that.

[Seran]

The next biggest hurdle will be structuring the oil replacement contracts during months in which the price of oil is much lower, as not to put too much pressure on downward supply margins.

[Suppa Hobbit Mage]

Yeah, oil is up from January 2021. It's also down some 35-40% from recent highs as a result of your best from President Biden. Yours welcome on his half.

You mean Putin. FIFY, troll.

[Parkbandit]

You mean Putin. FIFY, troll.

Hey now, "yours welcome on his half"...........

[Methais]

Yeah, oil is up from January 2021. It's also down some 35-40% from recent highs as a result of your best from President Biden. Yours welcome on his half.

Weren’t you saying that the president has no control over gas prices back when gas was $5 a gallon?

Yes. Yes you were.

[Suppressed Poet]

In fairness here, Presidents have almost no control over oil and gas prices. Biden did release a record amount from our reserves, but even that is just a metaphorical drop in the bucket.

The same with the inflation going on. There's very little of it that we have any actual control over- it's a global phenomenon.

No matter how many bills Democrats falsely imply will lower inflation, there's really only so much that can be done

Our government could print less money & reduce spending…