The White House is reportedly weighing a controversial measure to lower gas prices ahead of midterm

Being pro-free markets, I don't like the idea of banning trade. The RW has been vocal about opposing US exporting oil, while prices are high at home, they they'll probably support this whole heartedly.

The White House is reportedly weighing a controversial measure to lower gas prices ahead of midterm elections
https://www.msn.com/en-us/money/mar...A12CDij?cvid=9ecdbd6fe4164c9096438a4fddce9837

• The White House is eyeing a ban on exports of US gas to bring down rising prices at the pump.
• Biden has faced off with the oil industry over high gas prices, a key focus for his administration.
• The move comes with midterm elections just five weeks away, as oil leaders resist Biden's urging.

As US gas prices tick higher, the White House has reportedly asked the Energy Department to look into whether a ban on exports of gasoline would pull down costs at the pump for American drivers.

The move is a sign the idea of a ban is gaining support in the Biden administration, in the face of fervent opposition from the oil industry, Bloomberg reported Tuesday, citing a person familiar with the matter.

The measure would cover US exports of diesel and other refined petroleum products, as well as gas, the report said.

 

I don't think driving up the prices on the global market is worth lowering our cost at the pump.

Our allies do not need further upward pressure on their energy prices right now.

 

Won't this just increase the cost of imports so Americans will end up paying for the Gas decreases in other ways. Not that the majority are smart enough to figure that out. They will see lower gas and vote left anyways as people are sheep. I am sure the Right would do the same in their shoes as it happens with whomever is in power.

 

Good point. If US stops exports, it would drive up price of oil / petroleum. Also, if I am not mistaken our refineries are not well suited to convert US oil into petroleum.

Stopping natural gas exports to Europe would be a disaster for them

Price at the pump is $2.91 here in FL.

 

I am extremely opposed to this and it will only temporarily bring down prices and kill oil field jobs. Once that market slows it costs far more to bring it back on line. Saudi and OPEC are once again snuffing this administration off with further oil production cuts and I’m sure that’s why they are debating this. The real answer is to displace the cuts with more production on our end.

 

Or… OPEC is back dooring money into Biden, Inc, and the DNC. Rational markets are great, but the whither when corruption is involved.
We’re at $6.50 in California.

 

Maybe, but the oil industry has refused to invest in more production, and the government can't force them. Having said that, the production is near record levels now, and forecasted to increase next year.

 

The government can influence competition among oil producers to give more permits. Biden has been very poor on permits by increasing cost and lowering output. And the answer is to displace that’s all there is to it.

 

He has held two of the largest auctions on record, but the companies had no interest and they said its because they got beat up in 2020 when prices collapsed. Besides, they are raking in record profits as it is, so they don't need it. This it not my opinion, its their words. Most of Western world is predicted to be in recession next year, so going all-in at this time would be beyond foolish.

 

??????

Petroleum is "oil", petroleum is whats pumped out of the ground by "oil" wells, when people say crude oil its the same as petroleum. Refineries do not convert oil into petroleum, they convert oil (petroleum) into gasoline, diesel, kerosene, jet fuel, etc.

 

They have interests and they also spoke about the risk in the areas up for auction. If the costs were not rising under Biden to purchase these leases it may have been more successful. You can’t honestly think killing exports is the logical answer. If we limit our market shares it will surely bring prices down, that I won’t argue. But once our supply dwindles from lack of drilling because this will bring costs below the needed prices to profitably drill it will kill drilling. Then when prices come back that demand drilling it will have to be extraordinarily high to compensate bringing rigs out of the dirt. Secondly if you think they're skeptical to drill now wait until laws like this are passed that kills their industry again.

 

Maybe. That depends on how much Russia increases production and exports.

Think of it this way, US crude is around 4% of the global export market. Russia is somewhere north of 8%. With Biden cutting off US exports he provides Putin with a tremendous opportunity to save the rest of the world from a significant oil shortage and puts a ton of money into Putin's pocket. That's great for Russia. Meanwhile, since US producers have nobody else to sell to, Biden will have pretty much complete control over the US oil industry and can pretty much put them out of business. That's also an awesome thing (depending on how you think of "awesome") because that forces the US into a green energy production megaproject. Sure, a lot of Americans will freeze to death, bake to death and starve to death but that's a small price to pay for a cleaner, more ecologically friendly planet AND with the federal government's boot firmly on the neck of the population Biden can allocate the limited resources to the most deserving thus creating a society based on peace, love, equity and respect for the power of government!

 

'Petroleum" covers a range of crude oil and petroleum products, but yes, refineries convert oil into gasoline, not petroleum. Why bicker over words when everyone knows the meaning?

 

Why don't you read the OP and learn my position.

 

Of course they want to lower gas before the midterms. Then regardless of whether they win or not it'll just shoot back up.

They've got votes to buy and a lot of people vote based on the economy

 

Its a stupid political gimmick that won't work.

Because you made a ridiculous inaccurate statement. And you make it again, petroleum is crude oil.

 

But are people stupid enough (excluding democrats, we know they are stupid enough) to vote for democrats because of this scam?

 

What blows me away is that our government got rid of free trade with Russian oil and now they want to seclude our oil from the markets as well. What is their real goal here?

 

Wanna bet the oil company's lawyers are smarter than DOJ lawyers?
And the question becomes: Does he have any authority to do this? Maybe he should order states to waive their gas and oil taxes; here in California that would lower prices over seventy cents.

 

Motivation behind Russia sanctions should be obvious. The goal here is to reduce need for petroleum imports. I, however, think it would backfire, and I also don't think it will fly.

I don't know, and I don't know if he plans to ask Congress to approve it.

Gas in FL is $2.91, which I think is tolerable. As for tax, DeSantis challenger Charlie Crist is proposing that

 

I actually supported the ban on Russian oil but now that they are trying to take our oil out of circulation I am starting to question their end goals here.

 

The average voter does not even have a clue what the three branches and functions of the federal government are. They just know if things are going good for their bank account they should vote for that person

 

Maybe it's a signal meant for OPEC to consider? To head off their potential major cuts?

 

Lower gas prices - assuming it drops - is just one item, grocery costs are skyrocketing.

 

Peter Zeihan calls it again. He pointed out that Obama snuck this law to ban crude oil exports if the President wants into the 2015 omnibus spending bill and that Biden would use it because like Trump Biden he is a populist or at least wants to pretend to be one come election time. This would royally screw our allies, to the point they might not want to remain our allies, but Biden only cares about his own power.

It will also damage the U.S. economy by decreasing efforts to increase U.S. oil and gas output. Ironically, it will probably not lower gas prices much as the 2015 law does not allow the president to block the export of refined products. So U.S. exports of gasoline will boom as that will be very profitable but it will depress oil and gas drilling and site development (which Biden has deliberately beem doing since his first day in office). Just more bad economic policy out the left. Same as it ever was.