Bear Pit: now the sole domicile of politics at LuLa

[digitaldog]

I agree with you that there are other factors like inflation and OPEC that have also raised the price of oil, maybe the main reasons. 

But since you don't really know, stick with blaming Biden. "We" expect this from the jerking knee after so many pages of a consistent posting agenda here.
"For every complex problem there is an answer that is clear, simple, and wrong" -H. L. Mencken

Do you recall the price of oil actually going negative sometime in the recent past?

No reason to ask Alan; of it did, the credit goes solely to Trump; before, during and after his administration. 

[Alan Klein]

Do you recall the price of oil actually going negative sometime in the recent past?

That happened under the last administration.  Current high prices haven't occurred since the Obama administration. If Biden would reverse his green policies and encourage new drilling, prices would decline.  He wouldn't have to beg that Saudi prince murderer to increase OPEC oil production. 

[digitaldog]

If Biden would reverse his green policies and encourage new drilling, prices would decline. 

He shouldn't and will not. And that's great! It's one reason many voted for him.

[TechTalk]

Since when have they doubled?

Gas prices haven't "doubled" nor have they "nearly doubled" since Biden took office. It's just another attempt to sucker people into yet another circular argument consisting of a bunch of fact-free assertions and assumptions for one person's entertainment.

When Trump left office gas prices averaged $2.379 (01/18/2021) and had been rising at a rapid rate for several months. The most recent average is $3.267 (10/11/2021) which is a 37% increase since Biden took office. The current price increases have been on a very steady trajectory upward since Spring of 2020 after having fallen rapidly due to the pandemic.

https://www.eia.gov/Weekly U.S. Regular All Formulations Retail Gasoline Prices (Dollars per Gallon)

You haven't been paying attention...

It's no secret that gas prices are a commodity and a very volatile one. Take the blinders off for a little while and you might be more credible.

Gas prices plummeted in 2008 due to the financial crisis. Gas prices rose and took another dive from the summer of 2014 thru 2015 and into early 2016 as the economy continued to recover. They rose and then fell again due to the pandemic.

You're only fooling yourself with your political blame games. The game that you like so much is simple and repetitious. It entertains only you and enlightens no one.

[TechTalk]

Biden shutdown thre [the] XL pipeline

If he kept the XL pipeline open

There is and was no XL pipeline to shut down or keep open. Only 8% of it was constructed. The other 92% existed only on paper.

Would that pipeline have been finished by now if they'd gone ahead, do you think. Don't pipelines usually take years to complete?

Yes, of course, a pipeline that long (1,179 miles) would take years to construct. It was, environmentally, a monumentally stupid route for any oil pipeline to take, let alone a pipeline for the much dirtier and more expensive tar sands they planned to run thru it. That's why the Keystone Pipeline Phases: 1 (Keystone Pipeline / 2,147 miles), 2 (Keystone-Cushing / 291 miles), 3a (Cushing Marketlink / 487 miles), and 3b (Houston Lateral / 47 miles) were all completed during the Obama administration, but the Phase 4 XL extension was not.

The currently operating Keystone Pipelines (perhaps in keeping with the trolling origin of this current discussion, we should refer to it as the "Obama-Biden Keystone Pipeline") runs 2,972 miles with a capacity of several hundred thousand barrels of oil per day. TransCanada has now canceled the XL extension and will no longer be pursuing it. XL was a stupid idea from the beginning, which is why it faced a much higher level of opposition and hostility than the other 2,972 miles which were completed and are operating.

[digitaldog]

What we need in the US is a WATER pipeline, not one for oil. I suppose the small minded east cost right winger(s) has no idea about the massive drought we suffer in the west.

[TechTalk]

Given his preference for alternative facts (or alternative quacks) regarding climate change and the underlying causes, I expect that must be Biden's fault too!

[Chris Kern]

What we need in the US is a WATER pipeline, not one for oil. I suppose the small minded east cost right winger(s) has no idea about the massive drought we suffer in the west.

Yah, yah, yah, we've heard it all before: the Romans (and other ancient civilizations) built aqueducts a couple of thousand years ago, and now you have the temerity to suggest we might be able to move water from the soggy east to the arid west.  C'mon!  The opportunities for profit would never be sufficient to entice the private sector to make the investment to create the infrastructure, so public funding would be necessary—and that would be redolent of s*c*a*i*m (or, for the Fox News aficionados in this forum, c*m*u*i*m).

What we obviously really need is a coal pipeline.  And if Donald Trump is elected in 2024, we surely would get one.  It would run parallel to his border wall and, no doubt, be just as effective.

[LesPalenik]

If Biden would reverse his green policies and encourage new drilling, prices would decline.  He wouldn't have to beg that Saudi prince murderer to increase OPEC oil production.

Actually, the need for oil will decline. A much bigger problem will be to secure enough electricity for all the new EVs, home batteries and industrial electrical storage units.

[digitaldog]

Yah, yah, yah, we've heard it all before: the Romans (and other ancient civilizations) built aqueducts a couple of thousand years ago, and now you have the temerity to suggest we might be able to move water from the soggy east to the arid west.  C'mon! 

Well summed up here with humor:
https://www.youtube.com/watch?v=SAsExSNfNXQ

[TechTalk]

If Biden would reverse his green policies...  He wouldn't have to beg that Saudi prince murderer to increase OPEC oil production.

https://www.reuters.com/article/trump-stands-by-saudi-prince-despite-journalist-khashoggis-murder

Trump stands by Saudi prince despite journalist Khashoggi's murder

Trump stressed Saudi Arabia’s weapons purchases and its role in keeping world oil prices low as influencing his decision. Trump said of the possibility that the Saudi crown prince had a hand in the murder: “Maybe he did, maybe he didn’t”

The top five sources of U.S. total petroleum (including crude oil) imports by share of total petroleum imports in 2020 were: Canada - 52%, Mexico - 11%, Russia - 7%, Saudi Arabia - 7%, Colombia - 4%

The top five sources of U.S. crude oil imports by share of total crude oil imports in 2020 were: Canada - 61%, Mexico- 11%, Saudi Arabia - 8%, Colombia - 4%, Iraq - 3%

The current driver of oil production are ongoing COVID concerns and last year's oil export losses due to pandemic.

OPEC figures show 43% plunge in oil-export income in 2020

https://www.reuters.com/business/energy/opec-caution-money-behind-reluctance-pump-more-oil

"OPEC+'s decision on Monday to stick with a plan to raise oil output modestly and gradually, despite prices surging to multi-year highs, was partly driven by concern that demand and prices could weaken, sources close to the group told Reuters.

The other big reason is money. After seeing their income slide during the pandemic-induced demand and price collapse in 2020, the OPEC+ oil producers' alliance led by Russia and top exporter Saudi Arabia are enjoying the boost in revenues, three OPEC+ sources said.

OPEC+ brought in record production cuts of about 10 million barrels per day (bpd) in April 2020, or about 10% of global output, after restrictions around the world to curb the spread of the coronavirus paralysed oil demand and hit prices hard."

"Another OPEC+ source had said before Monday's meeting the group had faced pressure to ramp up production faster, but added: "We are scared of the fourth wave of corona, no one wants to make any big moves."

"The extra income for OPEC members will help to ease the pain of last year's price plunge. OPEC earned $321 billion in 2020 from petroleum exports, down 43% from 2019, based on OPEC's Annual Statistical Bulletin."

[Alan Klein]

Yah, yah, yah, we've heard it all before: the Romans (and other ancient civilizations) built aqueducts a couple of thousand years ago, and now you have the temerity to suggest we might be able to move water from the soggy east to the arid west.  C'mon!  The opportunities for profit would never be sufficient to entice the private sector to make the investment to create the infrastructure, so public funding would be necessary—and that would be redolent of s*c*a*i*m (or, for the Fox News aficionados in this forum, c*m*u*i*m).

What we obviously really need is a coal pipeline.  And if Donald Trump is elected in 2024, we surely would get one.  It would run parallel to his border wall and, no doubt, be just as effective.

Interesting article on piping water to California. 
https://www.livescience.com/43176-drought-pipeline-water-projects-arid-west.html

[Alan Klein]

Actually, the need for oil will decline. A much bigger problem will be to secure enough electricity for all the new EVs, home batteries and industrial electrical storage units.

They'll need more fossil fuels for all the electricity they'll need for EVs, etc.

[Alan Klein]

https://www.reuters.com/article/trump-stands-by-saudi-prince-despite-journalist-khashoggis-murder

Trump stands by Saudi prince despite journalist Khashoggi's murder

Trump stressed Saudi Arabia’s weapons purchases and its role in keeping world oil prices low as influencing his decision. Trump said of the possibility that the Saudi crown prince had a hand in the murder: “Maybe he did, maybe he didn’t”

The top five sources of U.S. total petroleum (including crude oil) imports by share of total petroleum imports in 2020 were: Canada - 52%, Mexico - 11%, Russia - 7%, Saudi Arabia - 7%, Colombia - 4%

The top five sources of U.S. crude oil imports by share of total crude oil imports in 2020 were: Canada - 61%, Mexico- 11%, Saudi Arabia - 8%, Colombia - 4%, Iraq - 3%

The current driver of oil production are ongoing COVID concerns and last year's oil export losses due to pandemic.

OPEC figures show 43% plunge in oil-export income in 2020

https://www.reuters.com/business/energy/opec-caution-money-behind-reluctance-pump-more-oil

"OPEC+'s decision on Monday to stick with a plan to raise oil output modestly and gradually, despite prices surging to multi-year highs, was partly driven by concern that demand and prices could weaken, sources close to the group told Reuters.

The other big reason is money. After seeing their income slide during the pandemic-induced demand and price collapse in 2020, the OPEC+ oil producers' alliance led by Russia and top exporter Saudi Arabia are enjoying the boost in revenues, three OPEC+ sources said.

OPEC+ brought in record production cuts of about 10 million barrels per day (bpd) in April 2020, or about 10% of global output, after restrictions around the world to curb the spread of the coronavirus paralysed oil demand and hit prices hard."

"Another OPEC+ source had said before Monday's meeting the group had faced pressure to ramp up production faster, but added: "We are scared of the fourth wave of corona, no one wants to make any big moves."

"The extra income for OPEC members will help to ease the pain of last year's price plunge. OPEC earned $321 billion in 2020 from petroleum exports, down 43% from 2019, based on OPEC's Annual Statistical Bulletin."

OPEC would be less powerful if Biden would reverse his earlier policies.

Biden’s energy idiocy: Kneecap US oil but beg OPEC to pump more
https://nypost.com/2021/08/12/bidens-energy-idiocy-kneecap-us-oil-but-beg-opec-to-pump-more/

US Oil Groups Chastise Biden for Begging OPEC+ to Pump More Oil
https://marcellusdrilling.com/2021/08/us-oil-groups-chastise-biden-for-begging-opec-to-pump-more-oil/

Biden blames OPEC for inflation instead of reckless spending as approval on economy plummets
https://thehill.com/opinion/finance/567741-biden-blames-opec-for-inflation-instead-of-reckless-spending-as-approval-on
Last year, the U.S. actually exported more oil and refined products than it imported for the first time since at least 1950. That is an extraordinary turnaround from the late 1970s, when OPEC contributed 85 percent of crude oil imports which, in turn, supplied 45 percent of our consumption.

Rather than working with the industry to boost production, the Biden administration is apparently planning to impose new rules that will curb oil U.S. output, like limiting federal leases in key areas, increasing the royalties that producers must pay and hiking costly bonding requirements. These changes will only give OPEC more clout and drive prices higher.

Here’s another suggestion for Biden: How about reining in your administration’s utterly reckless spending, which will clearly spur higher prices? 

Inflation is not limited to higher gasoline prices, though the 41 percent increase from last year is certainly hurting consumers. Overall consumer prices increased 5.4 percent in July compared to the year before, the same rate as in June and the highest 12-month rate since 2008.

[Peter McLennan]

The game that you like so much is simple and repetitious. It entertains only you and enlightens no one.

Yah, but heck, man.  What if he actually believed that crap?

[Peter McLennan]

I'm a voter. I think gas prices are too low. I think there should be a much higher tax on gas to support infrastructure.

I agree.  And I've spent many thousands of dollars on fuel in the USA.

Americans pay less for motor fuels than the majority of western countries and have some of the crappiest highways.  Go figure.

[Peter McLennan]

What we need in the US is a WATER pipeline, not one for oil.

Absolutely.

Near Trail, BC, one of North America's cleanest, largest rivers -The Columbia River- exits Canada. It flows an average of 265,000 cubic feet per second of fresh, clear Rocky Mountain water all effing year.

We're done with it. It's all yours.  Enough water to refill all those desert reservoirs with enough for The Central Valley farmland, Phoenix golf courses and Las Vegas fountains left over. 

Build a pipeline. You gots the chops.  You built a five foot diameter oil pipeline 800 miles long across three mountain ranges in Alaska for nearly 40 years ago.

[TechTalk]

OPEC would be less powerful if Biden would reverse his earlier policies.

A reasonable person making an honest assessment should realize that whatever power OPEC+ (OPEC + Russia) has comes from the fact that they control a large share of the remaining sources of high-quality crude reserves which are still relatively easy and inexpensive to extract. The facts are that oil is a finite resource which has been consumed at an ever increasing rate for several decades. Much of the easy to reach supply is now largely gone in many parts of the world. This is illustrated by where and how crude oil is now being sourced and extracted: from expensive offshore drilling rigs located in deep or rough ocean; from water intensive breaking up of underground shale rock formations; from dirty, thick, and expensive low-grade tar sands.

The quantity, quality, and lower cost of easier oil extraction are the sources of OPEC+ power and has been for decades. But if your blinders are large enough, you squint really hard and narrow your view enough, and you hold your head at the right angle... it's Biden policies and the nonexistent XL Pipeline extension.

[Alan Klein]

A reasonable person making an honest assessment should realize that whatever power OPEC+ (OPEC + Russia) has comes from the fact that they control a large share of the remaining sources of high-quality crude reserves which are still relatively easy and inexpensive to extract. The facts are that oil is a finite resource which has been consumed at an ever increasing rate for several decades. Much of the easy to reach supply is now largely gone in many parts of the world. This is illustrated by where and how crude oil is now being sourced and extracted: from expensive offshore drilling rigs located in deep or rough ocean; from water intensive breaking up of underground shale rock formations; from dirty, thick, and expensive low-grade tar sands.

The quantity, quality, and lower cost of easier oil extraction are the sources of OPEC+ power and has been for decades. But if your blinders are large enough, you squint really hard and narrow your view enough, and you hold your head at the right angle... it's Biden policies and the nonexistent XL Pipeline extension.

Sorry.  Americans are blaming President Biden for the high gasoline, oil, propane, and natural gas prices.  He can't take an anti fossil fuel stance and blame others.

[digitaldog]

Sorry.  Americans are blaming President Biden for the high gasoline, oil, propane, and natural gas prices.

Well the stupid and unreasonable ones who cannot accept facts and instead repeatedly assume about this and many more complex and simple topics (like resolution) certainly do. Sorry. 😭