For those who think the Ukraine conflict has anything to do with the high gas prices

Lol, I feel your pain!

 

It is significantly more expensive though than getting it from Russia via a pipeline. Maybe 35% more so.

The Europeans were warned about energy independence before, but they still chose to go with the cheaper option.

Now Europe does not have enough LNG capacity in place to entirely and suddenly switch away from reliance from Russia. Even under maximum capacity, the LNG infrastructure that is in place is only enough to supply 40% of their usual demand, perhaps less than that.
Building more capacity will be an expensive investment and take 3 to 4 years.

 

Except my point was world supply is not going to end up being reduced.

I can just repeat this over and over again, in case you're not getting it.

 

It is more expensive, however the thought of being under a dictators thumb for one product seems to me to be far more restrictive than a higher heating bill.

 

It’s also not just about the singular point you made. If the world goes into war what do you think will happen to the worlds oil distribution? The U.S. just approved of NATO sending jets to Ukraine. You do know what Putin said about this action right? This conflict is constantly seeing higher and higher escalation.

Personally I support it. Showing a weak hand in my opinion is worse. That however does not negate that the potential is real. I think this market shows where people think this thing is going. Let’s hope Putin is as scared as the market is. I think that’s his only way out of stirring the hornets nest.

 

Good thing you're not contributing to it via your lifestyle then, eh?

 

When are you planning to stop?

 

Easier than claiming to care while driving your car or travelling in a jet?

 

Because Russia is the #3 oil producer in the world. Prices are going up globally, not just in US.

1. USA 14.8 bpd
2. Saudi Arabia 12.4 bpd
3. Russia 11.3 bpd
https://www.worldometers.info/oil/oil-production-by-country/

 

The notion that we can 'fix' gas price by somehow doubling domestic production is just something certain media outlets have everyone parroting: Political talking point.

As for your explanation:

 

Those numbers cannot possibly be true-- that would be nearly a third of our entire population.

 

You are incorrect, in the specifics, even if your general thesis, is on the mark. Yes, oil prices are based on speculation, in futures markets. But those markets do not dwell on possibilities that are over a year, possibly many years, away (which would not be atypical, for a new oil expedition, to lead to crude- producing wells); they focus on the nearer term future, which can be greatly affected by disruptions, or significant changes, in supply (or demand).


For the record, because the Right, in general, seems to be having a lot of trouble understanding it-- which is uncertain, from your own post-- Biden has NOT decreased drilling on federal lands: I think it is at or near an all-time high. All he has done is put a moratorium on the issuing of any NEW oil drilling leases, on public land. Again, the time between the granting of a new lease, and the wells put up there, actually contributing to the oil supply, is a longer timescale than is of importance, in a market on which people are buying oil contracts, merely months in advance.

 

Well, we are under the thumb of a cabal on energy prices, the AOC/Biden/Pelosi cabal.

​

And if Pelosi and Biden hate fossil fuel so much, how come their sons both worked for Ukrainian fossil fuel companies.

And what the hell happened to Fauci? As soon as we started hearing that the US was funding COVID bioweapons labs in Ukraine, suddenly Fauci is on milk cartons.

 

Can you explain what the WH has to do with the rising gas prices? What, exactly, is Biden doing to impact this increase? And what should he be doing to lower them?

 

Due to his veto power and thus influence, the President has a huge role in shaping the budget. The WH plan has large budget deficits. Large budget deficits pretty much force the Fed to print more money (to buy government debt, so that government doesn't have to pay high interest rates). That causes inflation, which especially increases the price of imports, including oil, even more than the price increase of domestic things.

The WH had also used it's influence with the EPA to shut down oil projects in US and deny permits to offshore drilling. This is probably only 15% of the cause, but it hasn't helped.

Democrats want to print lots of money and don't want the US to produce oil because it's bad for the environment. Both of these things have raised the price of oil.

Lately though, the WH is getting more desperate and starting to allow new domestic production of oil.

High gas prices could easily be a factor that could affect the next election.

 

All I know is after Joe Biden became president, the price of gas almost instantly began going up.

 

"We've already seen domestic production ramp up," Alan Zibel, a research director at Public Citizen, told Newsweek. Zibel noted that production "fell off a cliff" in the spring of 2020 due to the coronavirus pandemic but has been gradually coming back since, under both former president Donald Trump and Biden.

Natural gas marketed production increased 2.2 percent in 2021, according to the U.S. Energy Information Administration (EIA). While crude oil production fell slightly in December 2021 compared to November 2021, the EIA has predicted U.S. production of crude oil will rise to average 12 million barrels per day in 2022 and then to a record-high of 13 million barrels per day in 2023.
https://www.newsweek.com/have-biden-administration-policies-reduced-us-oil-production-1686104

 

ENERGY SEC. GRANHOLM DENIES HIGH GAS PRICES ARE RESULT OF BIDEN ADMIN POLICIES DURING SPAR WITH HAWLEY

"Sen. Josh Hawley laid out several energy actions Biden took on the first day of his presidency, asking whether those had 'no effect' on prices at the pump."

"In January 2021, the average gas price in my state was $2.07. Eight months later, eight months later, long before Vladimir Putin invaded Ukraine, that price was up over 30% and it's been going up consistently since. What are you doing to reverse this administration's policies that are drawing down our own supply of energy in this country that are throttling oil and gas production in the United States?"

"Here's what your president did when he first came to office," Hawley said to Granholm. "He immediately reentered the Paris Climate Accord, he canceled the Keystone pipeline, he halted leasing programs in ANWR, he issued a 60-day halt on all new oil and gas leases on federal lands and waters -- that's nationwide and accounts for 25% of U.S. oil production -- he directed federal agencies to eliminate all supports for fossil fuels, he imposed new regulations on oil and gas and methane emissions. Those were all just in the first few days. Are you telling me that's had no effect on our energy supply?"

 

Of course. Biden has screwed everything up and folks know it.

 

There are plenty who are still in deep denial, looking for any other alternative excuses.