US Oil Producers Fail to Produce

[Parkbandit]

Here's President Biden overnight pointing out the massive disparity between the drop in oil prices versus the slow decline in gasoline prices. Something I've pointed out repeatedly, that gasoline producers and wholesalers are making bank by exploiting market conditions.

Gasoline stocks on the market today were created when oil was priced less than $90 a barrel, yet shot up 20-30% or more as oil prices skyrocketed due to misguided speculation on supply concerns. But as I said before, gas prices never come down the same way oil does, at least not as quickly.

Thank goodness we have a President who uses Twitter for something other than disparaging teenagers worried about climate change.

Is this the same Joe Biden who claimed business owners could fix Bidinflation if they just didn't raise their prices?

I'm not surprised you think he's a genius... because you are really the dumbest person posting in any thread.

Do you believe that it's only gas that a gas station has to pay for? Your side screams for a "living wage!" and other perks.. that increases the prices not only for the gas to be delivered to the station, but the people who are inside responsible for selling it. Everything has increased in price, thanks to Bidinflation... is it a surprise to anyone with an IQ over 12 that the price is higher?

[Parkbandit]

Are you suggesting that a capitalistic enterprise targeted by the government isn't doing all it can to support said government? Odd how that works.

Joe Biden, as a candidate, said he would "transition away from the oil industry."

Joe Biden, as a candidate, said he would make sure there was "No more drilling on federal lands"

Joe Biden, as a candidate, said he would make sure there was "no more drilling, including offshore"

Joe Biden, as a candidate, said he would make sure there was "no ability for the oil industry to continue to dril, period, ends."

Joe Biden, as a candidate, said his plan would "take on the fossil fuel industry"

Joe Biden, as a candidate, said he would make sure there was "no more new fracking"

Joe Biden, as a candidate, said he would make sure that "no another coal plant will be built"

Seran the Retard says "I don't understand why the oil industry won't just work with President Biden and produce more, er I mean lower their prices"

[Suppressed Poet]

Don’t forget that the inflation is just “temporary”.

[Parkbandit]

Don’t forget that the inflation is just “temporary”.

That I agree with.... just get the liberals out of office and boom, fixed.

[Methais]

Here's President Biden overnight pointing out the massive disparity between the drop in oil prices versus the slow decline in gasoline prices. Something I've pointed out repeatedly, that gasoline producers and wholesalers are making bank by exploiting market conditions.



Gasoline stocks on the market today were created when oil was priced less than $90 a barrel, yet shot up 20-30% or more as oil prices skyrocketed due to misguided speculation on supply concerns. But as I said before, gas prices never come down the same way oil does, at least not as quickly.

Thank goodness we have a President who uses Twitter for something other than disparaging teenagers worried about climate change.

That's funny how you think Biden knows how to use Twitter and is making the actual tweets himself.

Retard.

[Seran]

I suspect this is going to have a major impact once the US based oil speculators realize such a large amount of oil priced at a 25% loss is displacing worldwide rates. To compete with supplying India's growing need, the Gulf or US based suppliers would have to offer a substantial price decrease, which won't happen. However this will have a significant impact on prices on the short to midterm due to the made up Russian oil loss speculation is revealed as fiction.

Reports suggest Russia will take care of shipping and insurance, two major hurdles before India due to high insurance rates and war risk premiums. The payment for such purchases can be made through a rupee-ruble arrangement.

India has, in any case, been trying to cut its oil dependence on the Gulf countries and diversify to Russia and the US.

The world’s third-largest crude importer has been traditionally buying Brent crude. But a nearly $25-discount for the Urals, Russia’s flagship crude blend, is lucrative enough for a shift.

https://qz.com/india/2142604/will-in...l-from-russia/

[Tgo01]

Has Seran bothered to mention that since the oil "low" of 94.40 3 days ago that oil is now up 11%? Or does he only mention when oil drops on a minute basis?

[Methais]

Has Seran bothered to mention that since the oil "low" of 94.40 3 days ago that gas is now up 11%? Or does he only mention when oil drops on a minute basis?

"Oil went up by 50% last week, but it dropped .001% like 5 minutes ago, SEE GUYS I TOLD YOU SO OIL IS COMING DOWN AND IT'S TRUMP'S FAULT IT WENT UP IN THE FIRST PLACE!!!!!!!!" -Seran

[Seran]

Has Seran bothered to mention that since the oil "low" of 94.40 3 days ago that oil is now up 11%? Or does he only mention when oil drops on a minute basis?

Oil is still down 20% from its recent high and I just posted an article about pricing influences and why it'll be going back down again

[Parkbandit]

Oil is still down 20% from its recent high and I just posted an article about pricing influences and why it'll be going back down again

LOL.

How much is it up since President Biden took office though?