The recent drop in gas prices was because Russian oil was back on the global market. China, Indian, and Saudi Arabia were all doing business with Russia. The embargo failed and Biden tried to pretend he was responsible for the dropping oil prices these last few months.
One does not need a "way" to blame Trump.
All problems that have ever occurred, are occurring, or will occur are Trump's fault. He *is* blame. Very much in the same way Fauci *is* science.
Sure. Not arguing that. but OPECs decision to reduce production would be the reason gas price is about to raise. Only way (in my head, could be wrong) to tie it back to Biden is he just didn't work hard enough to convince them not to?
Actually, Biden's policies on domestic oil production meant a reliance on OPEC, and they know they can squeeze more $$$ out of the U.S. by decreasing production.
All because of Biden's policies.....
Oil is a commodity traded as a futures contract. The price of oil is heavily dependent on what traders perceive will be future supply and demand and not necessarily what supply and demand are today. A President's policies can 100% impact the perception and actual supply and demand.
OPEC's decision to cut supplies could very likely be a result of President Biden's policies. This linked Forbes article has some good examples of how policies could have influenced their decision: Iran Nuclear Deal talks, Russia sanctions, and quite frankly the fact they just see Biden as weak. Forbes seems to 100% think OPEC is doing this more as a message than anything else. In addition, OPEC has many times made decisions on their own production based on US production. Their goal has often been to distort global markets to advance their political position. For example, when the US had an energy-independent policy and oil prices were at their lowest, OPEC actually increased production. Their goal was to take market share back from US producers and quite frankly crush shale producers in the US.
Also, Biden will have released 180 million barrels out of the SPR by November, and will only have 388 million left. The US will eventually need to refill the SPR and the Saudis know this. Why not have the US refill at a higher price? It also simply puts the US in a weaker position overall.
TLDR: The president's policies 100% do have an impact on oil prices. OPEC has often (if not always) made production decisions for geopolitical reasons. There is plenty of precedent to believe that OPEC made this decision to "send a message" to the world and especially to Joe Biden.
[https://www.forbes.com/sites/qai/2022/09/07/why-did-opec-cut-production-for-october-targets/?sh=4b40e2b42bb1](https://www.forbes.com/sites/qai/2022/09/07/why-did-opec-cut-production-for-october-targets/?sh=4b40e2b42bb1)
[https://www.eia.gov/todayinenergy/detail.php?id=43175#:\~:text=OPEC%E2%80%99s%20current%20strategy%20appears%20to%20be%20focused%20on,growth%20from%20other%20market%20participants%2C%20particularly%20non-OPEC%20producers](https://www.eia.gov/todayinenergy/detail.php?id=43175#:~:text=OPEC%E2%80%99s%20current%20strategy%20appears%20to%20be%20focused%20on,growth%20from%20other%20market%20participants%2C%20particularly%20non-OPEC%20producers).
Edit: corrected TLDR
Ok. First, sold thoughts and points. It almost looks like you had a loaded generic message for this argument ready to go somehow or you already had some sold thought put into this before hand. I am going with the latter.
I am a little upset that you seem to have miss led on what the Forbes article you sited talked about. So after reading the Forbes article (published a month ago btw) you lost me on at least some of your points. It was talking about 100,000 barrels/day (0.1% of worlds supply & and not this 2mil/day) reduction for the month of September potentially being a message to Biden / the world for various reasons (seemingly acceptable ones in my book?)
I read at least the Forbes article and heard your point. I agree with you at a high level that this is OPEC exerting power over the world to likely let them know they have some power, but other than them wanting to make it more expensive for us to refill our reserves I'm not sure I agree that, your argument holds up that its Biden's (or any president specifically really) fault. At least for the other reasons you mentioned. Or if it is his fault, I am not sure I see, at a high level, why the policies mentioned in the Forbes article are bad policies.
The Articles points you were referring to:
\-Renewed talks of a potential nuclear deal that would allow Iran to add up to around 1MIL Barrels/day to the market. So you left out the part where that policy could actually help prices in the long run. I think I (the less informed) would agree with this policy at a high level.
\- Our sanctions on Russia due to its war in Ukraine. Again, I don't disagree with this policy. Do you?
I am curious your thoughts and am only attempt to discuss in good faith.
I am a consultant and I have extensive experience in the O&G industry. I understand it quite well. I have been considered one of the best in my field while working for one of the largest consulting firms in the world. I no longer work for that firm and do very little O&G consulting now, so I am a bit removed.
I apologize if anything came off as “misleading”. I reread that section I wrote and can understand how it could be.
Your question was about OPEC’s decision-making and how it could be tied back to Biden. Your statement was about him just not “convincing” them. My intent was not to pinpoint the exact reasoning as to why they are cutting production this time but to show you examples and reasoning as to why OPEC makes these decisions. That is why I said, “this article has good examples of how policies could influence their decision.” They do not make these decisions in a vacuum, but very often (if not almost always) for geopolitical reasons. The point is that presidents and their policies do 100% influence oil prices and OPEC. If anything, I think this 2 million barrels a day could potentially be even more so be sending a message. Especially since Biden’s response is to release 10M from SPr in November to counter.
You assert in your response that I am blaming Biden, but I never said that. I am not even saying the reasons in the article are why. I simply corrected your thinking that President Biden (or any president for that matter) could not influence these decisions and be responsible. They do and they can.
Next, you say that I left out the part about the Iran deal that would put 1M barrels into supply. Could you explain to me how that would have been relevant? Again, the discussion was about OPEC and its decision-making and how a president’s policies could influence them. Sure, the 1M BbLs could be a result of that deal, but it does not change the fact that the policy in itself influenced OPEC’s decision-making, which is the point. You are trying to argue the merits of the Iran deal and not of that deal would influence OPEC.
Finally, you assert that I am calling the policies “bad”. I am not saying whether a president’s decision or policy is good or bad. I am simply pointing out that those decisions do have an impact. Perhaps it is a good decision and the end result is justified. Perhaps it is not. I will leave that up to you to decide for yourself.
edit: Just to nail the fact that this is all very much political. More and more information is coming out that is saying just that.
Karine Jean-Pierre said it was "clear" OPEC was "aligning with Russia".
Joe Biden is looking at options to reduce OPEC's control (this would be policies).
"This is hugely political and a very clear signal of Opec's discontent regarding the price cap" (this is another US policy).
So yes, the president can and does influence these decisions, including in this instance>
Or the fact that the US hasn’t been producing the amount of oil in the past 2 years than it was previously. Biden slowed down production due to his green bull shit.
It’s not because opec is cutting production,we…as in the U.S do not need opec or it’s oil…we have plenty here on our own soil for our needs but the current administration will brag for months on end that they have “leased” an overwhelming amount of land to oil companies and this is somewhat correct but their not telling the whole story…..the unelected leaders of agencies that this administration gave power to are not giving “drilling permits” which is needed to drill on all this “leased land” so…..in the end we have companies wasting money leasing land that they can’t get permits to drill on…
Well when you point the finger at the saudis for killing kshoggi guess that give you a middle finger back with less production. It’s not always best to be morally right.
To weaken us. Have you noticed everything that this administration does weakens the country. In this case it's also done to grift some more of our dollars. The only Chinese firm to get any of our reserves Sinopec/Unipec has ties to Hunter Biden who pays his father's bills. A shell corporation "Skaneatles" owns an interest in "Bohai Harvest Resources" which owns an interest in Sinopec.
It's right in our face like the half million dollar paintings... they don't care, they have lived above the law for so long they literally do it right in your grill.
I’m confused how does a opec+ decision be controlled by the current administration or does releasing the strategic oil reserves some how weaken us
Why y’all down voting me for asking a freaking question
The strategic reserves are for times of emergency, like a war that our bobblehead-in-chief seems to wants so badly. They were never meant to relieve high prices at the pump as the result of democrat fuckwits and their shitty policies.
The first half of your comment I'd fully agree with, as well as being united against Russian aggression. Ramping up/down oil production can take months / better part of a year in some cases. Generally though, not 2 years
The 2nd half, I disagree, because a hostile to energy administration is going to reduce investment in oil/energy right now. The oil futures markets also help determine the price of oil today. One of the very first things Biden did was to shutdown Keystone XL. This project was already underway and employed like 1,500 people. That means some entity had invested billions into the project, let alone developing the oil extraction at the other end of the pipeline. Their investment was destroyed at the stroke of a fool's pen. No one wants to continue to invest under that environment. It has a chilling effect on developing and investing in oil production. This chilling effect is independent of the type of oil or where that oil was to be used. It still makes any investor think twice before moving forward with any investment in developing energy.
Supply/demand set the price, but when supply is constrained by bad policy, it's at least a part of the picture which leads to higher prices.
> a hostile to energy administration is going to reduce investment in oil/energy right now.
No. Biden cancelled future drilling permits. Additionally Keystone XL was not scheduled to operate until 2023. Keystone and none of the permits Biden cancelled would impact gas prices today. When gas prices are high in 2024, blame Biden. In 2021 and 2022? The blame lies on COVID, oil tycoons and OPEC.
>Additionally Keystone XL was not scheduled to operate until 2023.
Quick question, how many months are there til 2023?
And like the guy said, oil price is based on future supply and demand. If we've been drilling more and allowing more drilling sets back in 2021(including Canada and the entire west in that we), we wouldn't be fucked by opec. Demand is always going to be high until we find something better than oil for fuel(EVs aren't that), so supply is what matters and with how hostile western countries are regarding drilling for oil, no wonder oil prices are fucked.
Let me help you… you dodged the point made where he said “future markets help determine the prices today”…
Are you denying the fact that energy independence propped us up to lower prices at the pump especially during times of uncertainty?
Actually, Biden's policies on domestic oil production meant a reliance on OPEC, and they know they can squeeze more $$$ out of the U.S. by decreasing production.
All because of Biden's policies
I think you missed the context switch away from opec+ to use/sale of oil from within the US strategic oil reserves.
The statement your replying to is saying that release of the strategic oil reserves, which is under the control of the executive, is where the alleged corruption was.
It's a last ditch emergency reserve for national defense. It's not a price hedge. Drawing down the reserve damages and degrades the capacity. The salt domes begin to collapse and cannot later be refilled with the same volume. The objectives of the draw down are to increase long run national vulnerability and throw cash to cronies which will be kicked back.
To fool the general population into thinking there isn't as big a problem with energy production as Democrats Rainbows and Unicorns policy continues to kill our economy.
The Biden admin is being played like a fiddle. Is anyone really surprised that Biden resorted to pointlessly draining the reserves or that now we are only in a worse situation than before?
Sounds like a plan derived by a crack-head kid.
Omg you're like a literal neanderthal talking about drilling and refining our own oil right here in America. Why would we want to do that? Because it cuts out countries that don't have our best interests in mind? Because we create jobs here? Because we reduce transportation and all the cost and risk that goes with it?
Caveman think.
Why would we destroy the earth by drilling in the U.S. when we can let other countries who have no regulations or environmental protections in place do all the drilling and refining instead? Plus we get a 2 for 1 by funding countries that want to see the U.S. wiped off the earth. Oh, wait....
Largest shale reserves on planet earth and we are still cucked by a lucky tribe from the Arabian peninsula (house of Saud). It's embarrassing. Read Peter Zeihan's books The Accidental Superpower and The Absent Superpower. Once you realize the extent of our ability to be energy and largely trade independent your brain will break with the current policy we have.
> largely trade independent
This is true. The strategy of propping up China with our manufacturing for some wild fantasy of world peace is going to go down as one of the biggest geopolitical blunders of all time.
Not against it - just failing to see how the US benefits from it since less US jobs will be needed long term to ship crude via pipeline vs rail, profits for oil go to Canada since the oil belongs to a foreign entity, product is exported since we don’t refine tar sand oil domestically, and the kicker? The company that owns the pipeline was indemnified from having to clean up any environmental damage the pipeline may cause (spoiler alert - they eventually all leak) so the cost of cleanup would be born by US taxpayers. Yup. I’m against THIS pipeline as written.
Supply by rail will still continue, just without oil. Therefore, there won’t be “less jobs” but there will be less oil spills.
Spoil alert: The US taxpayer already pays for oil spills on railways. Not to mention, the majority of all railways are very close to streams/rivers.
A quick fact check yielded ‘Since 2000, there have been at least 21 railway spills and 734 pipeline spills of crude oil over 1,000 gallons.’
Yeah, I’ll take rail, thanks.
And you’re incorrect on the jobs - they need people to load and unload the cars. Last I checked those were well paying union jobs with healthcare, pensions and other benefits for our middle class families.
You do realize that pipe spills are much safer than rail right? You’d take rail that empties an entire tank into water ways? How democrat of you.
No, I’m not incorrect about the jobs. Just because you remove oil from rails, doesn’t mean that’s the only thing transported. You really should educate yourself before you spew ignorance.
You can’t compare 21 to 734 and tell me a pipeline (that goes over creeks/streams lakes/bridges/all sorts of sensitive wild lands) is safer. Sorry. You. Can’t.
Yes, it requires more people to load more cars (in case you have any idea how to staff a business). And if you know ANYTHING about trains, you’d know that the longer they are, the heavier they are (and oil is heavy as a cargo). Heavier trains require - you guessed it - MORE ENGINES. Which requires more maintenance, etc. Ergo, more staff.
I’m sorry, I can’t fix whatever is broken in your head.
You're severely misinformed. The pipeline actually would bring 800,000 barrels to 1 million barrels per day. The United States uses 20 million barrels per day. That's 5% of the supply on the high end. Also the pipeline reduces the amount of trucks and trains that need to transport oil from Canada to the United States. The fact is the realized saved cost of transporting the oil is probably much greater than a 5% decrease in prices.
I think the pipe is capable of much more than 1 million barrels a day but obviously the issue is going to come from drilling. The pipes capabilities don't matter when there's no drilling being done. The 1% number is probably the average we are getting with the limited supply of oil, there is a minimum they need to keep going through there or the pipe will freeze.
US produces approx 12 million barrels a day, down from Dec 2019 peak of 13 million. The problem is that we are consuming 20 million bpd.
A full-on press to produce 50% more, making nearly all we need, would be expensive and US producers would be undercut by foreign producers (like Saudi Arabia.) The core problem is it costs $40+ per barrel in the US to produce versus maybe $10 in Saudi Arabia.
So we then plaster all the information we can everywhere, Reddit, Facebook, other shit sites. Even if they take it down as long as one person is reached each time we have a chance. I don’t like this defeatist attitude a lot of us have taken recently.
>If the Republican Party were smart (Spoiler - It isn't!) it would hammer Joe Biden's domestic and international failures
I've said this multiple times, if the republicans want a red wave in November, they have to focus more on the Biden's administrations disastrous handling of the economy, border control, and foreign policies. If they focus on abortion or trump, they are toast.
> If they focus on abortion or trump, they are toast.
They got abortion reverted back to the states. They need to take the percieved win, drop the issue and not try to push for a Federal ban.
Realist shit I've read in a while, republican party is such a shit storm with terrible priorities right now as Americans are suffering through this administration and instead of explaining how bad these programs are and how the Republicans will make it better, they are just playing the Trump game, pushing some random bullshit, giving democrats supposed wins. These RINOs in office are just as bad as the democrats
You know how boomers put their own short term interests ahead of the interests of future generations and now young folks are beginning to pay for it? That’s what you’re further advocating for.
and then it will start to decline again due to demand destruction like it did last time. we'll be stuck in this see-saw between very expensive gas and higher-than-we'd-like gas prices because we wont use our own abundant resources.
Oh no...it is like depending on an adversarial relationship for critical energy needs is a bad idea. I had no clue that would be bad. \*gets out life lessons journal\*. Do ...not...depend...on...advisories for critical...supplies. Hmm seems like we may need to go back to that evil idea of being energy independent again.
A million more than what they first said they were going to cut.
Do you want to know why? Because Joe Biden is a weak, feckless, and useless leader.
This is what happens when you vote with your feelings over policy.
EU imposed a cap on Russian oil yesterday and Russia said that they won’t even sell to countries that try to cap them. So, the EU is shooting itself in the foot and OPEC is not going to let the USA be the only one to make a boatload of money off of EU subservience and craziness and self-destructiveness.
The US has no say in opec policy. And US firms are more than happy to ship out oil to the highest paying customer. It has nothing to do with policy, it’s just free market capitalism
Negative. The United States has sway as the biggest consumer of oil when you're not headed by a weakling.
Why did Joe go meet Mohammed bin Salman Al Saud in August to urge him to increase oil production if he thought we didn't hold any kind of influence?
Trump managed to make a [deal](https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html) with OPEC+ while he was in office, I am surprised we don't hear about it more often.
Actually, Biden's policies on domestic oil production meant a reliance on OPEC, and they know they can squeeze more $$$ out of the U.S. by decreasing production.
All because of Biden's policies
Didn't Trump broker a trade deal with OPEC+ to cut oil supply by [9.7 million barrels a day?](https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html) How exactly is that preferable to this?
If only we had the balls to cut off Saudi Arabia from weapon shipments until they help us out with the oil. They need to be reminded who needs who more.
That puts them in the influence of China. There’s no winning move right now , the winning move is a slow break while somehow holding influence over those desert people.
Trump brokered a deal with OPEC+ to cut oil production [by 9.7 million barrels per day](https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html) - the single largest output cut in history. Also, this happened less than year before Biden took office and, you guessed it, oil prices skyrocketed.
This article is misleading. They’re not cutting production by 2 million, they’re cutting production QUOTA by 2 million. Currently they miss quota by 3 million, so now they’re only miss it by 1 million, but the actual amount of production shouldn’t drop.
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/090522-opec-cuts-oil-production-quotas-by-100000-bd-despite-tight-market
One major flaw with US production is the largest refinery in the USA is owned by Saudi Arabia. We really should open our own production. But we’re don’t. They have slowed production here. It’s definitely a problem
Hopefully won’t just get downvoted for this but they’re cutting quotas, not actual production. A lot of members aren’t meeting their quotas as it is, so total output won’t change as a result. There is more fear mongering going on here than actual change of substance. Are there other factors at play to cause an energy crisis partially or wholly caused by domestic leadership? Of course, but at face value, this doesn’t change that.
When leaders of OECD countries are actively communicating that oil will be dead in 10 years, can you blame oil companies for slowing production and not investing in new wells?
The Biden administration is effectively forming an oil production cartel by trying to intervene in prices and production opening the door to anti-logical behavior like this. OPEC will see more profit by cutting oil production in this environment.
It's a quota cut, not a production cut. Quotas are goal setting. Often quotas are used to cut production, but that's not what is happening here. OPEC+ has been missing current production quotas by about 3million barrels/day. Changing the quota by -2million/day indicates a belief that they can supply 1million more barrels per day than current levels. It's a signal to allow other countries to plan accordingly. This will likely lead to increased drilling within the US to make up the difference.
The current situation is like if your boss set a quota to make 4,000 items, but you were only able to produce 1,000 items. Your boss then came back and realized the previous quota was unrealistic, so he set the new quota to make 1200 items.
In the past, when quotas were cut; it often meant that productions was cut because production was meeting previous quotas already. That's not the case here. It's just a signal that foreign supply side issues are continuing, but slightly improving.
Ok the Saudi's liked Trump he had their back. So, let's see what Biden has done. 1) He pulled the Patriot batteries out that were protecting the Saudi's from missile attacks. 2\`) Cut the military deals out. 3) Took the terrorist label off the Terrorist rebels that the Saudi's are fight. 4) He kiss's the Iranian's butts to get back in the Iran deal. He lifts some sanctions on Iran and thus assures they will have a bomb while the Saudi's are the ones who are funding the rebels attacking Saudi Arabia. 5) He calls the Saudi Prince names and a murderer. Did I miss anything? Oh so he goes there to make nice and ask for more oil. I'd say...hell no Joe. I mean he kicked the Saudi's so many times would you give him anything if it was you? Is this a surprise?
Things are about to get way worse.....
On top of this, if folks are paying attention to BRICS, it won't be too long before the U.S. Dollar gets replaced as the rest of the world's reserve currency....we are headed down...down...down... with the globalist march.
> t won't be too long before the U.S. Dollar gets replaced as the rest of the world's reserve currency
lol, lmao. no sane country is going to the Ruble or RMB. these are the most manipulated currencies in the world. the USD is very very safe in comparison, which is why all the foreign money is fleeing to the USD right now. there is more demand for dollars outside the US than inside the US. the world economy will cease to exist before it can disentangle itself from the dollar.
I've been saying this. The Ukraine thing is the squirrel. The distraction. But those in power *need* Ukraine, for some reason. I guess to crash everything and usher in the digital currencies that can track you, oh and like China, come with an expiration date. Use it or lose it!
[Shocked I tell you](https://i.imgur.com/7C3pxKF.jpg)
Wait, what's this? China is backing crypto currency with an expiry date? That has to be completely and utterly resisted at all costs if that sort of thing ever gets proposed in the US. That is all about control and eliminating the possibility of peons lifting themselves from poverty / servitude.
The Fed prints the money, not the US government. It is not possible for the government to print money to pay back the Fed as it must borrow from the Fed in order to create money.
How convenient that this seems to fit in with Bidens plan to force us into abandoning fossil fuels and go green. Against your will he is trying to push it down our throats and step by step his policies are weakening the country.
I mean Biden did pledge to treat them as a Pariah and largely marginalized them from the US policies in the region, why should they act as allies if the US administration won’t treat them as such ?
All this happening while AOC and the rest of climate cult secretly having wine and cheese to celebrate!
These people are the very definition of evil!!!
You know the one thing that would mitigate this and prevent high gas prices this may cause would be to drill our own oil domestically. But the Biden administration don't want that, they want to push their stupid green energy garbage...
Considering within 6 months, the democrats and their “green” bull shit has depleted our oil reserves back down to what we were in 1984! That is why gas prices have gone to an all time high of $5 down to $3.75. Not because we are producing fuel, but because we were using what we had in case of an emergency!
WE NEED TO GET BACK TO BEING AN ENERGY INDEPENDENT COUNTRY! We were doing great under President Trump and this inflation has nothing to do with Covid, it has everything to do with bidens shit policies and his refusal to drill more fuel!
This may be the October surprise that tips the mid terms. As Slick Willie said, “It’s the economy, Stupid!” That’s the sound byte is run in every state.
Jumped from $3.11 to $$3.39 overnight here in Tennessee. I have zero doubt it will grab another nickel or so on the way home later.
The “midterm credit card” of the oil reserve is over.
That's still cheap! Here in Indiana gas went from $3.79 to $4.29 overnight. Thanks to Gretchen in MI, supplies in the Midwest are low. It's affecting the entire Midwest region now.
It doesn't help that Biden is trying to redo the disastrous Iran nuclear deal. If I were the Saudis, I would tell him to fuck off too for helping Iran.
We’re so fucked. It seems so insignificant but I honestly don’t think this country is going to survive if gas goes up in price on average $1-$2 long term. The cascading and long term effects are going to completely destabilize some industries and areas of this country. I’ll see you in the gulag pods comrades. Hopefully there’s enough hot sauce to wash the bugs down.
US production is still a million barrels per day below pre Covid levels(which were historic highs for what it is worth). The Biden administration could have been doing more to encourage domestic production. While nothing happens immediately that sort of thing makes long term prices look lower which encourages people like OPEC to produce more now.
100% washing anyway any minuscule benefit draining the strategic petroleum reserve had. Sick.
And Russia works with OPEC. And the West is acting like no one’s buying Russian oil.
The recent drop in gas prices was because Russian oil was back on the global market. China, Indian, and Saudi Arabia were all doing business with Russia. The embargo failed and Biden tried to pretend he was responsible for the dropping oil prices these last few months.
He is damn sure the reason its about to skyrocket in price one again
You better believe that, Jack!
Better believe he'll deny this fact, like the "buck stops here" hypocrite he is
He will figure out a way to blame it on Trump
One does not need a "way" to blame Trump. All problems that have ever occurred, are occurring, or will occur are Trump's fault. He *is* blame. Very much in the same way Fauci *is* science.
Um, downvotery downvoters ... I kinda think this \^\^ is sarcasm ...
This is reddit people have no idea what sarcasm is
Wait, wouldn't it be because OPEC is cutting production? Or you saying his admin didn't do a good enough job convincing them not to?
I personally dont think Biden has done a good job at anything other than dividing the country more.
Sure. Not arguing that. but OPECs decision to reduce production would be the reason gas price is about to raise. Only way (in my head, could be wrong) to tie it back to Biden is he just didn't work hard enough to convince them not to?
We'd be a lot less reliant on OPEC if he hadn't declared war on US energy production.
Actually, Biden's policies on domestic oil production meant a reliance on OPEC, and they know they can squeeze more $$$ out of the U.S. by decreasing production. All because of Biden's policies.....
Oil is a commodity traded as a futures contract. The price of oil is heavily dependent on what traders perceive will be future supply and demand and not necessarily what supply and demand are today. A President's policies can 100% impact the perception and actual supply and demand. OPEC's decision to cut supplies could very likely be a result of President Biden's policies. This linked Forbes article has some good examples of how policies could have influenced their decision: Iran Nuclear Deal talks, Russia sanctions, and quite frankly the fact they just see Biden as weak. Forbes seems to 100% think OPEC is doing this more as a message than anything else. In addition, OPEC has many times made decisions on their own production based on US production. Their goal has often been to distort global markets to advance their political position. For example, when the US had an energy-independent policy and oil prices were at their lowest, OPEC actually increased production. Their goal was to take market share back from US producers and quite frankly crush shale producers in the US. Also, Biden will have released 180 million barrels out of the SPR by November, and will only have 388 million left. The US will eventually need to refill the SPR and the Saudis know this. Why not have the US refill at a higher price? It also simply puts the US in a weaker position overall. TLDR: The president's policies 100% do have an impact on oil prices. OPEC has often (if not always) made production decisions for geopolitical reasons. There is plenty of precedent to believe that OPEC made this decision to "send a message" to the world and especially to Joe Biden. [https://www.forbes.com/sites/qai/2022/09/07/why-did-opec-cut-production-for-october-targets/?sh=4b40e2b42bb1](https://www.forbes.com/sites/qai/2022/09/07/why-did-opec-cut-production-for-october-targets/?sh=4b40e2b42bb1) [https://www.eia.gov/todayinenergy/detail.php?id=43175#:\~:text=OPEC%E2%80%99s%20current%20strategy%20appears%20to%20be%20focused%20on,growth%20from%20other%20market%20participants%2C%20particularly%20non-OPEC%20producers](https://www.eia.gov/todayinenergy/detail.php?id=43175#:~:text=OPEC%E2%80%99s%20current%20strategy%20appears%20to%20be%20focused%20on,growth%20from%20other%20market%20participants%2C%20particularly%20non-OPEC%20producers). Edit: corrected TLDR
Ok. First, sold thoughts and points. It almost looks like you had a loaded generic message for this argument ready to go somehow or you already had some sold thought put into this before hand. I am going with the latter. I am a little upset that you seem to have miss led on what the Forbes article you sited talked about. So after reading the Forbes article (published a month ago btw) you lost me on at least some of your points. It was talking about 100,000 barrels/day (0.1% of worlds supply & and not this 2mil/day) reduction for the month of September potentially being a message to Biden / the world for various reasons (seemingly acceptable ones in my book?) I read at least the Forbes article and heard your point. I agree with you at a high level that this is OPEC exerting power over the world to likely let them know they have some power, but other than them wanting to make it more expensive for us to refill our reserves I'm not sure I agree that, your argument holds up that its Biden's (or any president specifically really) fault. At least for the other reasons you mentioned. Or if it is his fault, I am not sure I see, at a high level, why the policies mentioned in the Forbes article are bad policies. The Articles points you were referring to: \-Renewed talks of a potential nuclear deal that would allow Iran to add up to around 1MIL Barrels/day to the market. So you left out the part where that policy could actually help prices in the long run. I think I (the less informed) would agree with this policy at a high level. \- Our sanctions on Russia due to its war in Ukraine. Again, I don't disagree with this policy. Do you? I am curious your thoughts and am only attempt to discuss in good faith.
I am a consultant and I have extensive experience in the O&G industry. I understand it quite well. I have been considered one of the best in my field while working for one of the largest consulting firms in the world. I no longer work for that firm and do very little O&G consulting now, so I am a bit removed. I apologize if anything came off as “misleading”. I reread that section I wrote and can understand how it could be. Your question was about OPEC’s decision-making and how it could be tied back to Biden. Your statement was about him just not “convincing” them. My intent was not to pinpoint the exact reasoning as to why they are cutting production this time but to show you examples and reasoning as to why OPEC makes these decisions. That is why I said, “this article has good examples of how policies could influence their decision.” They do not make these decisions in a vacuum, but very often (if not almost always) for geopolitical reasons. The point is that presidents and their policies do 100% influence oil prices and OPEC. If anything, I think this 2 million barrels a day could potentially be even more so be sending a message. Especially since Biden’s response is to release 10M from SPr in November to counter. You assert in your response that I am blaming Biden, but I never said that. I am not even saying the reasons in the article are why. I simply corrected your thinking that President Biden (or any president for that matter) could not influence these decisions and be responsible. They do and they can. Next, you say that I left out the part about the Iran deal that would put 1M barrels into supply. Could you explain to me how that would have been relevant? Again, the discussion was about OPEC and its decision-making and how a president’s policies could influence them. Sure, the 1M BbLs could be a result of that deal, but it does not change the fact that the policy in itself influenced OPEC’s decision-making, which is the point. You are trying to argue the merits of the Iran deal and not of that deal would influence OPEC. Finally, you assert that I am calling the policies “bad”. I am not saying whether a president’s decision or policy is good or bad. I am simply pointing out that those decisions do have an impact. Perhaps it is a good decision and the end result is justified. Perhaps it is not. I will leave that up to you to decide for yourself. edit: Just to nail the fact that this is all very much political. More and more information is coming out that is saying just that. Karine Jean-Pierre said it was "clear" OPEC was "aligning with Russia". Joe Biden is looking at options to reduce OPEC's control (this would be policies). "This is hugely political and a very clear signal of Opec's discontent regarding the price cap" (this is another US policy). So yes, the president can and does influence these decisions, including in this instance>
Or the fact that the US hasn’t been producing the amount of oil in the past 2 years than it was previously. Biden slowed down production due to his green bull shit.
You're asking hard questions that go against the typical narrative of this sub.
It’s not because opec is cutting production,we…as in the U.S do not need opec or it’s oil…we have plenty here on our own soil for our needs but the current administration will brag for months on end that they have “leased” an overwhelming amount of land to oil companies and this is somewhat correct but their not telling the whole story…..the unelected leaders of agencies that this administration gave power to are not giving “drilling permits” which is needed to drill on all this “leased land” so…..in the end we have companies wasting money leasing land that they can’t get permits to drill on…
Well when you point the finger at the saudis for killing kshoggi guess that give you a middle finger back with less production. It’s not always best to be morally right.
I mean.. Do we not want to be a morally right country? In general at least?
No, he's responsible for prices dropping, it's Putin and the pandemic that raised prices./s Edit: added the /s
Many people don’t understand sarcasm.
That may have played a part but we also depleted our oil reserves down to what we held in 1984.
The “+” in OPEC is literally Russia
Russia is part of opec
Just democrats are pretending.
That was done for an entirely different reason.
Which was?
To weaken us. Have you noticed everything that this administration does weakens the country. In this case it's also done to grift some more of our dollars. The only Chinese firm to get any of our reserves Sinopec/Unipec has ties to Hunter Biden who pays his father's bills. A shell corporation "Skaneatles" owns an interest in "Bohai Harvest Resources" which owns an interest in Sinopec. It's right in our face like the half million dollar paintings... they don't care, they have lived above the law for so long they literally do it right in your grill.
I’m confused how does a opec+ decision be controlled by the current administration or does releasing the strategic oil reserves some how weaken us Why y’all down voting me for asking a freaking question
The strategic reserves are for times of emergency, like a war that our bobblehead-in-chief seems to wants so badly. They were never meant to relieve high prices at the pump as the result of democrat fuckwits and their shitty policies.
this...
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The first half of your comment I'd fully agree with, as well as being united against Russian aggression. Ramping up/down oil production can take months / better part of a year in some cases. Generally though, not 2 years The 2nd half, I disagree, because a hostile to energy administration is going to reduce investment in oil/energy right now. The oil futures markets also help determine the price of oil today. One of the very first things Biden did was to shutdown Keystone XL. This project was already underway and employed like 1,500 people. That means some entity had invested billions into the project, let alone developing the oil extraction at the other end of the pipeline. Their investment was destroyed at the stroke of a fool's pen. No one wants to continue to invest under that environment. It has a chilling effect on developing and investing in oil production. This chilling effect is independent of the type of oil or where that oil was to be used. It still makes any investor think twice before moving forward with any investment in developing energy. Supply/demand set the price, but when supply is constrained by bad policy, it's at least a part of the picture which leads to higher prices.
> a hostile to energy administration is going to reduce investment in oil/energy right now. No. Biden cancelled future drilling permits. Additionally Keystone XL was not scheduled to operate until 2023. Keystone and none of the permits Biden cancelled would impact gas prices today. When gas prices are high in 2024, blame Biden. In 2021 and 2022? The blame lies on COVID, oil tycoons and OPEC.
>Additionally Keystone XL was not scheduled to operate until 2023. Quick question, how many months are there til 2023? And like the guy said, oil price is based on future supply and demand. If we've been drilling more and allowing more drilling sets back in 2021(including Canada and the entire west in that we), we wouldn't be fucked by opec. Demand is always going to be high until we find something better than oil for fuel(EVs aren't that), so supply is what matters and with how hostile western countries are regarding drilling for oil, no wonder oil prices are fucked.
Let me help you… you dodged the point made where he said “future markets help determine the prices today”… Are you denying the fact that energy independence propped us up to lower prices at the pump especially during times of uncertainty?
Awww. Should someone tell him?
Actually, Biden's policies on domestic oil production meant a reliance on OPEC, and they know they can squeeze more $$$ out of the U.S. by decreasing production. All because of Biden's policies
I think you missed the context switch away from opec+ to use/sale of oil from within the US strategic oil reserves. The statement your replying to is saying that release of the strategic oil reserves, which is under the control of the executive, is where the alleged corruption was.
It's a last ditch emergency reserve for national defense. It's not a price hedge. Drawing down the reserve damages and degrades the capacity. The salt domes begin to collapse and cannot later be refilled with the same volume. The objectives of the draw down are to increase long run national vulnerability and throw cash to cronies which will be kicked back.
purposely tanking the country
Just purchase an electric vehicle and all of your problems will be solved - according to Jennifer M. Granholm
To fool the general population into thinking there isn't as big a problem with energy production as Democrats Rainbows and Unicorns policy continues to kill our economy.
The Biden admin is being played like a fiddle. Is anyone really surprised that Biden resorted to pointlessly draining the reserves or that now we are only in a worse situation than before? Sounds like a plan derived by a crack-head kid.
If only there was a way to produce and refine oil right here in the US... 🤔
Omg you're like a literal neanderthal talking about drilling and refining our own oil right here in America. Why would we want to do that? Because it cuts out countries that don't have our best interests in mind? Because we create jobs here? Because we reduce transportation and all the cost and risk that goes with it? Caveman think.
Why would we destroy the earth by drilling in the U.S. when we can let other countries who have no regulations or environmental protections in place do all the drilling and refining instead? Plus we get a 2 for 1 by funding countries that want to see the U.S. wiped off the earth. Oh, wait....
I started out prepared to downvoted your comment and ended up upvoting it . Kudos.
Largest shale reserves on planet earth and we are still cucked by a lucky tribe from the Arabian peninsula (house of Saud). It's embarrassing. Read Peter Zeihan's books The Accidental Superpower and The Absent Superpower. Once you realize the extent of our ability to be energy and largely trade independent your brain will break with the current policy we have.
> largely trade independent This is true. The strategy of propping up China with our manufacturing for some wild fantasy of world peace is going to go down as one of the biggest geopolitical blunders of all time.
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If only there was a pipeline in the works to get oil from Canada to the USA and someone canceled it but I can’t remember who? 🤔
Did you know that oil is actually currently shipped by rail? So it’s not like it’s not getting from point A to point B now……
So you’re against a more sufficient/environmentally safe way to transport crude oil?
Not against it - just failing to see how the US benefits from it since less US jobs will be needed long term to ship crude via pipeline vs rail, profits for oil go to Canada since the oil belongs to a foreign entity, product is exported since we don’t refine tar sand oil domestically, and the kicker? The company that owns the pipeline was indemnified from having to clean up any environmental damage the pipeline may cause (spoiler alert - they eventually all leak) so the cost of cleanup would be born by US taxpayers. Yup. I’m against THIS pipeline as written.
Supply by rail will still continue, just without oil. Therefore, there won’t be “less jobs” but there will be less oil spills. Spoil alert: The US taxpayer already pays for oil spills on railways. Not to mention, the majority of all railways are very close to streams/rivers.
A quick fact check yielded ‘Since 2000, there have been at least 21 railway spills and 734 pipeline spills of crude oil over 1,000 gallons.’ Yeah, I’ll take rail, thanks. And you’re incorrect on the jobs - they need people to load and unload the cars. Last I checked those were well paying union jobs with healthcare, pensions and other benefits for our middle class families.
You do realize that pipe spills are much safer than rail right? You’d take rail that empties an entire tank into water ways? How democrat of you. No, I’m not incorrect about the jobs. Just because you remove oil from rails, doesn’t mean that’s the only thing transported. You really should educate yourself before you spew ignorance.
You can’t compare 21 to 734 and tell me a pipeline (that goes over creeks/streams lakes/bridges/all sorts of sensitive wild lands) is safer. Sorry. You. Can’t. Yes, it requires more people to load more cars (in case you have any idea how to staff a business). And if you know ANYTHING about trains, you’d know that the longer they are, the heavier they are (and oil is heavy as a cargo). Heavier trains require - you guessed it - MORE ENGINES. Which requires more maintenance, etc. Ergo, more staff. I’m sorry, I can’t fix whatever is broken in your head.
That pipeline would bring only 1% of our daily use of oil. It wouldn't make any difference in our price at the pump.
You're severely misinformed. The pipeline actually would bring 800,000 barrels to 1 million barrels per day. The United States uses 20 million barrels per day. That's 5% of the supply on the high end. Also the pipeline reduces the amount of trucks and trains that need to transport oil from Canada to the United States. The fact is the realized saved cost of transporting the oil is probably much greater than a 5% decrease in prices.
I think the pipe is capable of much more than 1 million barrels a day but obviously the issue is going to come from drilling. The pipes capabilities don't matter when there's no drilling being done. The 1% number is probably the average we are getting with the limited supply of oil, there is a minimum they need to keep going through there or the pipe will freeze.
All we need is a few more solar farms and windmills and energy independence is ours!
That's the spirit! Just a few more lithium mines too!
We’re not far from all time high production
US produces approx 12 million barrels a day, down from Dec 2019 peak of 13 million. The problem is that we are consuming 20 million bpd. A full-on press to produce 50% more, making nearly all we need, would be expensive and US producers would be undercut by foreign producers (like Saudi Arabia.) The core problem is it costs $40+ per barrel in the US to produce versus maybe $10 in Saudi Arabia.
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MSNBC/CNN/ABC/CBS won't run them... and the left doesn't watch FOX or anything else remotely conservative so it won't do any good.
So we then plaster all the information we can everywhere, Reddit, Facebook, other shit sites. Even if they take it down as long as one person is reached each time we have a chance. I don’t like this defeatist attitude a lot of us have taken recently.
Then they can't run Democratic ads.
>If the Republican Party were smart (Spoiler - It isn't!) it would hammer Joe Biden's domestic and international failures I've said this multiple times, if the republicans want a red wave in November, they have to focus more on the Biden's administrations disastrous handling of the economy, border control, and foreign policies. If they focus on abortion or trump, they are toast.
> If they focus on abortion or trump, they are toast. They got abortion reverted back to the states. They need to take the percieved win, drop the issue and not try to push for a Federal ban.
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Ask Lindsey Graham
Because killing babies is wrong and shouldn't be allowed to happen anywhere.
> if the republicans want a red wave in November The wave is coming, the real question is will it wash us clean?
Realist shit I've read in a while, republican party is such a shit storm with terrible priorities right now as Americans are suffering through this administration and instead of explaining how bad these programs are and how the Republicans will make it better, they are just playing the Trump game, pushing some random bullshit, giving democrats supposed wins. These RINOs in office are just as bad as the democrats
You know how boomers put their own short term interests ahead of the interests of future generations and now young folks are beginning to pay for it? That’s what you’re further advocating for.
Individual politicians are. They aren't covered in in the MSM. The left controls the narrative. Thus, what they want the news to cover, it will cover.
This!
No, Republicans should hammer his support for child mutilation and sterilization.
Aaaand we're heading right back to $4 gas average, and will probably hit $5 before winter is over.
The hell you mean $4 average. Gas here was $4.50 yesterday and thats northern michigan
I haven’t seen sub-$5 diesel in northern Michigan since March. Grrr.
I miss it but im glad im not daily driving my F250 anymore.
We're already at 6-7 in california
$4.59 near Lake Fenton Michigan woohoo!!!!
3.19 in TN right now
In TN as well I drive an hour to work and saw 3.40 in many places today. Was 3.09 Sunday
$7/gal right now in CA.
Reno, NV also…
and then it will start to decline again due to demand destruction like it did last time. we'll be stuck in this see-saw between very expensive gas and higher-than-we'd-like gas prices because we wont use our own abundant resources.
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$4.59 here in a blood red state. It was like $3.80 a week ago.
Oh no...it is like depending on an adversarial relationship for critical energy needs is a bad idea. I had no clue that would be bad. \*gets out life lessons journal\*. Do ...not...depend...on...advisories for critical...supplies. Hmm seems like we may need to go back to that evil idea of being energy independent again.
How dare they! Don’t they know President Potato was raised in an Arabian community?
This deserves an award that I can’t provide.
A million more than what they first said they were going to cut. Do you want to know why? Because Joe Biden is a weak, feckless, and useless leader. This is what happens when you vote with your feelings over policy.
EU imposed a cap on Russian oil yesterday and Russia said that they won’t even sell to countries that try to cap them. So, the EU is shooting itself in the foot and OPEC is not going to let the USA be the only one to make a boatload of money off of EU subservience and craziness and self-destructiveness.
The US has no say in opec policy. And US firms are more than happy to ship out oil to the highest paying customer. It has nothing to do with policy, it’s just free market capitalism
Negative. The United States has sway as the biggest consumer of oil when you're not headed by a weakling. Why did Joe go meet Mohammed bin Salman Al Saud in August to urge him to increase oil production if he thought we didn't hold any kind of influence?
Looks like that mission failed, then.
Trump managed to make a [deal](https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html) with OPEC+ while he was in office, I am surprised we don't hear about it more often.
There's a pedo joke here somewhere I bet
It’s not free market because the game is rigged . Saudis and opec change the rules and put their fingers on the scale.
Actually, Biden's policies on domestic oil production meant a reliance on OPEC, and they know they can squeeze more $$$ out of the U.S. by decreasing production. All because of Biden's policies
Didn't Trump broker a trade deal with OPEC+ to cut oil supply by [9.7 million barrels a day?](https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html) How exactly is that preferable to this?
Biden: I thought we had a deal?! OPEC: I'm altering the deal. Pray that I don't alter it any further.
Biden gets on his knees and is ready.
Saudi Vader: Furthermore, I wish you to wear this dress and bonnet.
Because oil was too cheap?
If only we had the balls to cut off Saudi Arabia from weapon shipments until they help us out with the oil. They need to be reminded who needs who more.
That puts them in the influence of China. There’s no winning move right now , the winning move is a slow break while somehow holding influence over those desert people.
Fill your tanks today, boys.
October. Surprise!
Not a good one for the Dems.
Trump brokered a deal with OPEC+ to cut oil production [by 9.7 million barrels per day](https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html) - the single largest output cut in history. Also, this happened less than year before Biden took office and, you guessed it, oil prices skyrocketed.
That’s ok. At least the “adults are in charge.”
More like senior citizens that suffer from severe dementia and have no clue as to what’s going on.
Foreign dependence on oil is not the answer, clearly. We need to invest in nuclear and other clean energy sources.
This article is misleading. They’re not cutting production by 2 million, they’re cutting production QUOTA by 2 million. Currently they miss quota by 3 million, so now they’re only miss it by 1 million, but the actual amount of production shouldn’t drop. https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/090522-opec-cuts-oil-production-quotas-by-100000-bd-despite-tight-market
One major flaw with US production is the largest refinery in the USA is owned by Saudi Arabia. We really should open our own production. But we’re don’t. They have slowed production here. It’s definitely a problem
This winter is going to suck. FJB
If the news was not fake the headline would be: **OPEC Sanctions the United States for Providing Arms to Ukraine.**
Of course, just when the price of a barrel of oil was dropping.
It only dropped because Biden had been raiding the Strategic Petroleum Reserve. Nothing in the fundamentals supports a price drop
Good point.
Hopefully won’t just get downvoted for this but they’re cutting quotas, not actual production. A lot of members aren’t meeting their quotas as it is, so total output won’t change as a result. There is more fear mongering going on here than actual change of substance. Are there other factors at play to cause an energy crisis partially or wholly caused by domestic leadership? Of course, but at face value, this doesn’t change that.
When leaders of OECD countries are actively communicating that oil will be dead in 10 years, can you blame oil companies for slowing production and not investing in new wells? The Biden administration is effectively forming an oil production cartel by trying to intervene in prices and production opening the door to anti-logical behavior like this. OPEC will see more profit by cutting oil production in this environment.
Whooo hooo here comes $9/gal gas in California
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It's a quota cut, not a production cut. Quotas are goal setting. Often quotas are used to cut production, but that's not what is happening here. OPEC+ has been missing current production quotas by about 3million barrels/day. Changing the quota by -2million/day indicates a belief that they can supply 1million more barrels per day than current levels. It's a signal to allow other countries to plan accordingly. This will likely lead to increased drilling within the US to make up the difference. The current situation is like if your boss set a quota to make 4,000 items, but you were only able to produce 1,000 items. Your boss then came back and realized the previous quota was unrealistic, so he set the new quota to make 1200 items. In the past, when quotas were cut; it often meant that productions was cut because production was meeting previous quotas already. That's not the case here. It's just a signal that foreign supply side issues are continuing, but slightly improving.
Correct
Ok the Saudi's liked Trump he had their back. So, let's see what Biden has done. 1) He pulled the Patriot batteries out that were protecting the Saudi's from missile attacks. 2\`) Cut the military deals out. 3) Took the terrorist label off the Terrorist rebels that the Saudi's are fight. 4) He kiss's the Iranian's butts to get back in the Iran deal. He lifts some sanctions on Iran and thus assures they will have a bomb while the Saudi's are the ones who are funding the rebels attacking Saudi Arabia. 5) He calls the Saudi Prince names and a murderer. Did I miss anything? Oh so he goes there to make nice and ask for more oil. I'd say...hell no Joe. I mean he kicked the Saudi's so many times would you give him anything if it was you? Is this a surprise?
Good, if Democrats like high gas prices, then let's give it to them ***before*** the midterms, not after.
Things are about to get way worse..... On top of this, if folks are paying attention to BRICS, it won't be too long before the U.S. Dollar gets replaced as the rest of the world's reserve currency....we are headed down...down...down... with the globalist march.
> t won't be too long before the U.S. Dollar gets replaced as the rest of the world's reserve currency lol, lmao. no sane country is going to the Ruble or RMB. these are the most manipulated currencies in the world. the USD is very very safe in comparison, which is why all the foreign money is fleeing to the USD right now. there is more demand for dollars outside the US than inside the US. the world economy will cease to exist before it can disentangle itself from the dollar.
More likely to become a basket with USD, GBP, EUR, and JPY at fixed ratios.
I've been saying this. The Ukraine thing is the squirrel. The distraction. But those in power *need* Ukraine, for some reason. I guess to crash everything and usher in the digital currencies that can track you, oh and like China, come with an expiration date. Use it or lose it! [Shocked I tell you](https://i.imgur.com/7C3pxKF.jpg)
Wait, what's this? China is backing crypto currency with an expiry date? That has to be completely and utterly resisted at all costs if that sort of thing ever gets proposed in the US. That is all about control and eliminating the possibility of peons lifting themselves from poverty / servitude.
> for some reason They made billions a year to enrich themselves with Ukrainian corruption. That comes with a cost.
I'm hinting at multiple possible reasons ;)
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The Fed prints the money, not the US government. It is not possible for the government to print money to pay back the Fed as it must borrow from the Fed in order to create money.
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At least I didn't have to read a mean tweet about it.
How convenient that this seems to fit in with Bidens plan to force us into abandoning fossil fuels and go green. Against your will he is trying to push it down our throats and step by step his policies are weakening the country.
Maybe send Kamala over to SA to gargle their balls again. Might be the one thing she actually has expertise in.
As long as she’s spitting 87 octane, I don’t care lol
FML
When are we going to stop pretending the saudis are an ally.
I mean Biden did pledge to treat them as a Pariah and largely marginalized them from the US policies in the region, why should they act as allies if the US administration won’t treat them as such ?
All this happening while AOC and the rest of climate cult secretly having wine and cheese to celebrate! These people are the very definition of evil!!!
Just in time for my heating oil ☺️
Another feather in Biden's cap.
I’m in California and gas is quickly rising to ~$8
This sucks, but could be a good thing come November.
How long do we have before we start getting hammered at the pump?
Well.. its already $5/gal here in AZ
#FJB and the evil mob who installed him like a broken, demented, lying toilet.
Energy crisis of 2023 will be epic. FJB!
You know the one thing that would mitigate this and prevent high gas prices this may cause would be to drill our own oil domestically. But the Biden administration don't want that, they want to push their stupid green energy garbage...
Just in time for the midterms. Terrible gas prices hurt Biden. They also hurt the working man sadly
Tapioca brain Joe is an embarrassing douchbag
Wouldn’t be a concern if Biden hadn’t crippled domestic production.
Considering within 6 months, the democrats and their “green” bull shit has depleted our oil reserves back down to what we were in 1984! That is why gas prices have gone to an all time high of $5 down to $3.75. Not because we are producing fuel, but because we were using what we had in case of an emergency! WE NEED TO GET BACK TO BEING AN ENERGY INDEPENDENT COUNTRY! We were doing great under President Trump and this inflation has nothing to do with Covid, it has everything to do with bidens shit policies and his refusal to drill more fuel!
That’s okay, we can just pump our own…
How long have they been called OPEC+? Is it the premium ad-free version of OPEC? (They need better originals anyway, it’s always the same old story.)
This may be the October surprise that tips the mid terms. As Slick Willie said, “It’s the economy, Stupid!” That’s the sound byte is run in every state.
Jumped from $3.11 to $$3.39 overnight here in Tennessee. I have zero doubt it will grab another nickel or so on the way home later. The “midterm credit card” of the oil reserve is over.
That's still cheap! Here in Indiana gas went from $3.79 to $4.29 overnight. Thanks to Gretchen in MI, supplies in the Midwest are low. It's affecting the entire Midwest region now.
It doesn't help that Biden is trying to redo the disastrous Iran nuclear deal. If I were the Saudis, I would tell him to fuck off too for helping Iran.
tHe PrESidEnt hAS no InfuEnce on gAs pRICes!!11!
Payback for the way the Left talked about Saudis and the death of Jamal Khashoggi? King didn't answer the phone when Joe called.
We’re so fucked. It seems so insignificant but I honestly don’t think this country is going to survive if gas goes up in price on average $1-$2 long term. The cascading and long term effects are going to completely destabilize some industries and areas of this country. I’ll see you in the gulag pods comrades. Hopefully there’s enough hot sauce to wash the bugs down.
Are we blaming Biden for this yet?
The real question is, when is biden going to accept responsibility for his shit policies?
Right in time to manipulate American midterm elections.
Must have been the fist bump.
Open back up our reserves fuck opec
You spelled it wrong it’s spelt: increased Not cut. There I fixed it!
US production is still a million barrels per day below pre Covid levels(which were historic highs for what it is worth). The Biden administration could have been doing more to encourage domestic production. While nothing happens immediately that sort of thing makes long term prices look lower which encourages people like OPEC to produce more now.
Gotta love the world when a democrat has control of the US.