Things that made you laugh today (Political Version)

[Flap]

I don't use gasoline and my power is from the TVA. Thank goodness for FDR and socialism!

[Seran]

So the export ban that was raised 6 years ago took this long to make gas prices go up?

Because the export ban causes American oil to be competitive on a global market and subject to price manipulation. Prices have been stable through the first six months of the covid-19 outbreak, but due to the delay in producers in pumping less oil we had months where there's was literally no place to store oil. Producer cutbacks worldwide took effect and now with global demand surging, OPEC+ has stated publicly they will not increase supply which has reinforced the current 80+ price range.

America meanwhile still exports to the tune of 2 million barrels a day, receiving a larger payout due to the overseas price differential. If instead the export ban were reimposed, domestic oil would lose the international demand influence on its price. We would likely still be buying some oil from the overseas producers to makeup for shortfall, but again domestic oil prices would be largely insulated from overseas market forces.

[Gelston]

Because the export ban causes American oil to be competitive on a global market and subject to price manipulation. Prices have been stable through the first six months of the covid-19 outbreak, but due to the delay in producers in pumping less oil we had months where there's was literally no place to store oil. Producer cutbacks worldwide took effect and now with global demand surging, OPEC+ has stated publicly they will not increase supply which has reinforced the current 80+ price range.

America meanwhile still exports to the tune of 2 million barrels a day, receiving a larger payout due to the overseas price differential. If instead the export ban were reimposed, domestic oil would lose the international demand influence on its price. We would likely still be buying some oil from the overseas producers to makeup for shortfall, but again domestic oil prices would be largely insulated from overseas market forces.

Why did it take 6 years to cause oil prices to go up? And don't blame COVID, it was repealed 4 years prior to that.

[Parkbandit]

Because the export ban causes American oil to be competitive on a global market and subject to price manipulation. Prices have been stable through the first six months of the covid-19 outbreak, but due to the delay in producers in pumping less oil we had months where there's was literally no place to store oil. Producer cutbacks worldwide took effect and now with global demand surging, OPEC+ has stated publicly they will not increase supply which has reinforced the current 80+ price range.

America meanwhile still exports to the tune of 2 million barrels a day, receiving a larger payout due to the overseas price differential. If instead the export ban were reimposed, domestic oil would lose the international demand influence on its price. We would likely still be buying some oil from the overseas producers to makeup for shortfall, but again domestic oil prices would be largely insulated from overseas market forces.

[Seran]

Why did it take 6 years to cause oil prices to go up? And don't blame COVID, it was repealed 4 years prior to that.

I've already answered your question. If you wanna drill done into it more, feel free to cite something definitive showing I'm wrong.

[Tgo01]

Because the export ban causes American oil to be competitive on a global market and subject to price manipulation.

Okay I just want to make sure I understand your dumb ass ahem, "argument", correctly. You really think the cost of oil in the US was NOT influenced by the global market prior to 2015?

You do know every time someone sneezes in the Middle East the price of oil was affected right? Both in the US and on a global scale and this didn't just happen starting in 2015 right? I mean right? You're not this fucking clueless right?

Right?

Remember when gas prices in 2008 were ALMOST as bad as they are now? Why do you think that is? Could it have anything to do with the "global market"? Why wasn't the US insulated from these high gas prices then?

Your argument makes absolutely no sense because you don't have a single fucking clue what you are talking about.

People wonder why "OMG the mean conservatives are so mean to everyone!" in the political sub and it's because of people like you. Absolutely dishonest people who call everyone a bigot and a racist at the drop of the hat and then engage in dishonest/ignorant "arguments" such as the one you are putting forth. Do better at life and people the mean ol' conservatives won't be so mean to you.

[Gelston]

I've already answered your question. If you wanna drill done into it more, feel free to cite something definitive showing I'm wrong.

https://www.forbes.com/sites/davidbl...h=65cfb0d27441

https://www.houstonchronicle.com/bus...0Markit%20said.

https://oilprice.com/Energy/Energy-G...-The-Pump.html

https://www.wsj.com/articles/oil-pri...lm-11633990532

All of these experts say you are full of shit and an added export ban would make production even lower. Prices would go even higher.

Again, cite a source of yours that says oil prices are up specifically because of the ending of the oil export ban 6 years ago, and only that. Because you weren't saying shit about production vs consumption until it was brought up 6 times.

[Parkbandit]

Again, cite a source of yours that says oil prices are up specifically because of the ending of the oil export ban 6 years ago, and only that. Because you weren't saying shit about production vs consumption until it was brought up 6 times.

An actual gif of Seran's next move:

[Seran]

https://www.forbes.com/sites/davidbl...h=65cfb0d27441

https://www.houstonchronicle.com/bus...0Markit%20said.

https://oilprice.com/Energy/Energy-G...-The-Pump.html

https://www.wsj.com/articles/oil-pri...lm-11633990532

All of these experts say you are full of shit and an added export ban would make production even lower. Prices would go even higher.

Again, cite a source of yours that says oil prices are up specifically because of the ending of the oil export ban 6 years ago, and only that. Because you weren't saying shit about production vs consumption until it was brought up 6 times.

Oh hey look, you've found opinion pieces being masqueraded as research.

Allowing producers to charge higher prices relative to comparable foreign oil

Decreasing profit margins for petroleum refiners as they paid more for domestic crude oil relative to international prices

Decreasing demand for U.S. tankers to move domestic oil, leading to declines in the U.S. shipping industry

As a result, refiners had to pay more for the domestically produced crude oil they used in their refining processes after the repeal of the ban, or import more foreign crude oil as a substitute.

https://www.gao.gov/products/gao-21-118

Even better, we've helped China's industrialization and growth into Pan Pacific rival. Despite API testimony for Congress that our oil exports would not benefit China.

China imported 952,000 b/d of US crude last month, up more than sevenfold from September 2019 and above the previous record of 840,000 b/d in July.

https://www.argusmedia.com/en/news/2...ptember-update

[Gelston]

"GAO's analysis found limited effects associated with the repeal of the ban on the production, export, and import of domestic refined petroleum products, such as gasoline."

Your own link.