OMG! WTF IS WRONG WITH YOU!
OPEC has very little to do with energy prices. Really. So what does? Oh, I know, the new paradigm. Let me find it for you, you fabulously furry freak brother who is totally high...
Another idiotic action of this Biden govt
- Thread starter earth_imperator
- Start date
OMG! WTF IS WRONG WITH YOU!
OPEC has very little to do with energy prices. Really. So what does? Oh, I know, the new paradigm. Let me find it for you, you fabulously furry freak brother who is totally high...
High gas prices are shown in Los Angeles, where prices soared over $7. Jae C. Hong/AP
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Another Biden bid to curb oil supplies that’s sure to raise gas prices even more
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Team Biden is now aiming to block new drilling in the Atlantic, Pacific and possibly much of the Gulf of Mexico. No doubt he’ll blame Vladimir Putin, gas companies and Republicans when gas spikes yet again as a result.
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Remember, Biden vowed to “end fossil fuels,” and since taking office, he’s worked to keep that vow: He halted federal lease sales, canceled the Keystone XL Pipeline, threatened banks to stop aiding fossil-fuel companies and imposed countless restrictions on production. Does anyone think this was meant to increase supplies and bring down prices?
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Keystone would have added 1% to world oil production but you keep believing gas would be 1.00 a gallon right now if Biden hadn't canceled it.And it wouldn't even be finished right now.
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@Tony Stark, you say "Keystone would have added 1% to world oil production". Can you confirm (admit) that the Keystone XL pipeline would have added a whopping 9.1% more oil to the US market?
Here are the facts: https://en.wikipedia.org/wiki/Keystone_Pipeline
"production of petroleum in the United States averaged 9.4 million barrels (1.5 million cubic meters) per day in first-half 2015"
and
"Maximum discharge (ie. capacity of the Keystone XL pipeline): 0.86 million barrels per day"
Doing the maths gives: 0.86 / 9.4 * 100 = 9.14 %
Biden has blocked 9.1 % of oil to the US market, consequently leading to 9.1+% inflation and soaring gasoline prices. And since the supply chains are interdependent, it affects also other things like transportation prices and food prices...
The Biden govt has no clue of economics nor of the markets.
With a pro-business man President Trump we would not have such problems, that's for sure!
Here are the facts: https://en.wikipedia.org/wiki/Keystone_Pipeline
"production of petroleum in the United States averaged 9.4 million barrels (1.5 million cubic meters) per day in first-half 2015"
and
"Maximum discharge (ie. capacity of the Keystone XL pipeline): 0.86 million barrels per day"
Doing the maths gives: 0.86 / 9.4 * 100 = 9.14 %
Biden has blocked 9.1 % of oil to the US market, consequently leading to 9.1+% inflation and soaring gasoline prices. And since the supply chains are interdependent, it affects also other things like transportation prices and food prices...
The Biden govt has no clue of economics nor of the markets.
With a pro-business man President Trump we would not have such problems, that's for sure!
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Global oil production is around 90 million barrels a day,so adding 860,000 barrels from keystone is less than 1 % of global oil production.Biden is currently releasing 1 million barrels a day from the reserve,so that should show you that 860,000 barrels from keystone would not be lowering prices
And the figures of 860,000 from keystone is just a best case peak estimate,other estimates show keystone would only be producing 500,000 barrels a day,half of what Biden is releasing from the reserves which aren't bringing prices down.And oil from keystone doesn't have to be sold to The US.
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Biden is adding more than that to the market with the reserve release,and as you can see it does shit for lowering gas prices.
Shows how much you know when you think 9% of US oil would lead to 9.1% inflation and soaring gasoline prices.
Keystone would not be up and running right now, so it could not have lead to 9.1+% inflation and soaring gasoline prices.