The USA is now producing more oil and gas than any nation ever has. It’s a triumph
- Thread starter Guno צְבִי
- Start date
T. A. Gardner
Thread Killer
Another problem in this is that Biden through the EPA et al., is forcing US refineries to close due to cost of operation forced by federal regulations.
Biden’s Burdensome Regulations are Shutting Down American Refineries
https://energycommerce.house.gov/po...lations-are-shutting-down-american-refineries
Refinery closures lower domestic crude oil distillation operating capacity, but refinery utilization rates remain flat over the long term
https://www.eia.gov/outlooks/aeo/narrative/production/sub-topic-03.php
Oil companies are profiting from the scarcity driven by refineries losing capacity
https://www.npr.org/2022/06/18/1106...e-scarcity-driven-by-refineries-losing-capaci
Pumping out all the crude oil on the planet gets you nothing if you can't refine it into a finished product. Refinery capacity dictates quantities available to the market domestically. If that quantity falls and demand remains constant, then prices rise. Importing finished, usable oil products costs more than local production will, so that driver the price up too.
Fuck the greentard agenda.
Biden’s Burdensome Regulations are Shutting Down American Refineries
https://energycommerce.house.gov/po...lations-are-shutting-down-american-refineries
Refinery closures lower domestic crude oil distillation operating capacity, but refinery utilization rates remain flat over the long term
https://www.eia.gov/outlooks/aeo/narrative/production/sub-topic-03.php
Oil companies are profiting from the scarcity driven by refineries losing capacity
https://www.npr.org/2022/06/18/1106...e-scarcity-driven-by-refineries-losing-capaci
Pumping out all the crude oil on the planet gets you nothing if you can't refine it into a finished product. Refinery capacity dictates quantities available to the market domestically. If that quantity falls and demand remains constant, then prices rise. Importing finished, usable oil products costs more than local production will, so that driver the price up too.
Fuck the greentard agenda.
I do not know if you are lying, or just ignorant. https://www.eia.gov/outlooks/aeo/na...ix,Marathon) refinery in Martinez, California Some refineries closed during Covid due to lack of demand. Energy companies, not the government. shut others.
T. A. Gardner
Thread Killer
You didn't even bother to read one of those links. Your ignorant answer says so.
Into the Night
Verified User
No refinery closed due to lack of demand during Covid, Sock. Stop quoting made up shit.
Lack of demand? People were home during the Covid scam using more energy than usual. Prices managed to go up without demand? Is that what you are saying?
Presidents are seldom responsible for the good or bad developments during their presidency--they get elected and just hope for the best.
Into the Night
Verified User
Biden was directly responsible for higher oil and gas prices, Sock. He is the one that issued the executive order.
In 2023 the U. S. crude oil production hit an all-time record high.
Into the Night
Verified User
Not because of Biden, Sock. Despite him. A big factor was that his executive order was thrown out by a federal court. The shortage is not yet been recovered, and inflation hasn't helped any either.
You mean the world wide inflation? It was caused primarily by the shortage of goods and government stimulus money given out by Biden and Trump. It was also caused by Trump's tariff which raised prices and was essentially a $82 billion tax increase American taxpayers had to pay.
Into the Night
Verified User
Tariffs don't cause inflation, Sock. The only direct cause of inflation is printing money faster than wealth is being created. In other words, the Federal Reserve.
The dollar has been devalued 34% since Biden was installed. Shortages cause temporary spikes in the item, but not overall inflation.
Into the Night
Verified User
The Federal Reserve is not a worldwide bank, Sock.
Any government using fiat money is generally subject to inflation.
Shortages do not cause inflation. Tariffs do not cause inflation.
Non-sequitur. It was world wide inflation. You need to learn about supply and demand. When the oil companies reduced production due to decreases in travel, gas prices increased when people began to travel again with their stimulus checks but production had not yet caught up with demand.
Tariffs are designed to raise prices. Americans had to pay an additional $82 billion in tariffs and attempts to increase prices on foreign products caused retaliation against American products. Farmers lost $42 billion which Trump repaid them out of our treasury. The tariffs were a disaster.
Into the Night
Verified User
Buzzword fallacy. Fallacy fallacy.
No such thing, Sock.
You are describing yourself again, Sock.
Paradox. Irrational. You can't claim productivity is lower and higher at the same time, Sock.
You are locked in paradox, Sock. You must clear your paradox.
No, they aren't. They are a tax on imported goods, nothing more.
No, they didn't.
Irrelevance fallacy.
Not due to imports, sock!
None. There are lot of tariffs on a lot of items. No disaster.
Don't want to pay the tax? Don't import that item from that country.
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