US Oil Producers Fail to Produce

[Suppa Hobbit Mage]

You should ask the big oil industry about that. They say that their investors are demanding dividends and aren't allowed to do capital expenditures. Meanwhile, as Republicans and Manchin are preventing any real investment in renewable energy infrastructure, electric vehicle credits, the President is tapping the SPR and reaching out to other oil sources, since you know... Americans still drive, despite the oil industry taking a siesta.

You should ask the president and his policies about that. He campaigned on putting them out of business.

[Parkbandit]

You should ask the president and his policies about that. He campaigned on putting them out of business.

Oh silly.. that's just campaign rhetoric. He didn't mean it...

[Seran]

Another step in the right direction, reducing overall usage of gasoline in the United States by restoring higher fuel efficiency standards destroyed by Trump. US Oil Companies have made it clear they won't be able to meet rising demand, so let's further temper demand.

New vehicles must average 40 mpg by 2026, up from 28 mpg

DETROIT (AP) — New vehicles sold in the United States will have to travel an average of at least 40 miles per gallon of gasoline in 2026, up from about 28 mpg, under new federal rules unveiled Friday.

The National Highway Traffic Safety Administration said its fuel economy requirements will undo a rollback of standards enacted under President Donald Trump. For the current model year, standards enacted under Trump require the fleet of new vehicles to get just under 28 miles per gallon in real-world driving. The new requirements increase gas mileage by 8% per year for model years 2024 and 2025 and 10% in the 2026 model year.

https://apnews.com/article/climate-b...75b9d56edadbda

[Suppa Hobbit Mage]

So now Biden is going after the auto industry. I wonder how that will work out.

[Seran]

So now Biden is going after the auto industry. I wonder how that will work out.

By 'going after' you mean encouraging fuel efficiency standards, the direction most are already going with hybrid and electric vehicles? I'm absolutely sure they're feeling scandalized, how dare the President continue to press for additional fuel efficient vehicle credits and EV charging infrastructure that the Republicans and corrupt Manchin are blocking.

[Parkbandit]

And Seran can't figure out why the price of gas is so high......

LOL.

[Methais]

By 'going after' you mean encouraging fuel efficiency standards, the direction most are already going with hybrid and electric vehicles? I'm absolutely sure they're feeling scandalized, how dare the President continue to press for additional fuel efficient vehicle credits and EV charging infrastructure that the Republicans and corrupt Manchin are blocking.

There really is no limit to how retarded you can be.

[Seran]

Oil prices were up 4% today on news that oil inventories were up 9 million barrels. In another nod to just how oil speculators have divorced prices from reality. Supply in our country is exceeding demand, but WTI is still pricing higher. Good thing those poor suffering oil companies are raking in record profits for their investors, otherwise Americans might actually see relief.

https://oilprice.com/Energy/Energy-G...ssian-Oil.html

[Parkbandit]

Oil prices were up 4% today on news that oil inventories were up 9 million barrels. In another nod to just how oil speculators have divorced prices from reality. Supply in our country is exceeding demand, but WTI is still pricing higher. Good thing those poor suffering oil companies are raking in record profits for their investors, otherwise Americans might actually see relief.

https://oilprice.com/Energy/Energy-G...ssian-Oil.html

I do hope you are doing your part and making sure you are not contributing to the demand problem.

[Methais]

I do hope you are doing your part and making sure you are not contributing to the demand problem.

He isn't. But it's only because someone else pays for his gas and electricity.

And by someone else, I mean taxpayers.