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Hey Lefties I bet deep down you miss orange man even though you won’t admit it!
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Among some of the earliest announcements coming out of the White House after Joe Biden’s inauguration was a promise to clamp down on drilling, particularly on federal lands and offshore. While this all has to be done in stages, the oil and gas industry is already reacting. And since markets rely on “futures” as much as they do current supply and demand levels, the effects can often precede the cause.
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Gas prices continue to climb across the U.S., with average prices jumping double digits in every state since Friday, AAA said Monday.
supply and demand..not so much to do with Biden..and Russia and OPEC have cut production..our President is not the enemy..
you 'righties' need to look a little further than the end of nose to see what is actually happening in the real world..and no I certainly don't miss orange man..
supply and demand..not so much to do with Biden..and Russia and OPEC have cut production..our President is not the enemy..
you 'righties' need to look a little further than the end of nose to see what is actually happening in the real world..and no I certainly don't miss orange man..
Why don't liberals understand how the market works? Biden has already made a few anti-supply moves PLUS his rhetoric around being anti oil. Both of these put downward pressure on supplies both in reality and in the minds of the speculators. There doesn't even have to be a real shortage in order for prices to go up. The market just has to "think" there "could be" a shortage and "less oil on the market". It is clear there will be less under Biden. In addition anything that hurts global supply hurts our pocket books even if it is not our supply directly that is being hurt.
Yes, demand has risen some this year, but gas prices were not this high under Trump even in a massively booming economy. The difference is Trump was drilling everywhere he could and the US actually came to energy independence under him (though admittedly the process was started before he took office). Trump was oil friendly - Biden is not. It's that simple.
A perfect parallel to this is the toilet paper shortage we had last year. There was no shortage and never would have been. Consumer's perception was that there would be a shortage. Hence panic buying. Thankfully people don't speculate on toilet paper supplies or the prices would have been at ridiculous levels.
Biden has the power to lower gas prices today. All he has to do is come out with an energy independence stance with federal lands and coastal waters open to drilling. Be pro supply and watch the market respond.
I don't know about that, but this American Rescue Act is the biggest welfare handout in American history. I will never vote Dem again (yes, I voted for Biden).
No, it's a global market, impacted by the weather (impacing oil producing areas last month here), more demand as people commute to work and travel more and global dynamics.
Yes and the analysts bake in the future supply and demand then discount it back to today and that ALSO impacts the current prices. So any hint of a supply reduction and you get what we are seeing now. Markets HATE uncertainty. With Trump they KNEW that government would not restrict supply. Now, that is the opposite.
Yes and the analysts bake in the future supply and demand then discount it back to today and that ALSO impacts the current prices. So any hint of a supply reduction and you get what we are seeing now. Markets HATE uncertainty. With Trump they KNEW that government would not restrict supply. Now, that is the opposite.
OPEC made their move when demand seized and they are refusing to open the spigot -- not because of anything happening in the USA.
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