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As soon as Biden was sworn into office he started signing executive orders to harm oil production. This caused future concerns for oil production and started the immediate rise in oil prices and gas.
On Biden's second day in office he signed Executive Order on Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis. The biggest impact from that Executive Order was the cancellation of the Keystone XL pipeline, which destroyed 120,000 jobs, forced companies into either bankruptcy or severely harmed their ability to do business.
But there is no mention of fracking in this executive order.
The next week the Biden administration issued Secretarial Order No. 3395, which implemented a 60-day suspension of new oil and gas leasing and drilling permits for federal land and water.
Followed shortly be an Executive Order on Tackling the Climate Crisis at Home and Abroad. This implemented an indefinite “pause on new oil and natural gas leases on public lands.” And this was in the first month in office.
Biden also wants to eliminate the tax laws for percentage depletion deduction, which will severely harm small independent oil producers. The big oil companies like Exxon cannot even take advantage of those tax laws.
Add to that the EO's changing the CAFE standards forcing the automakers to go EV.
The new CAFE standards apply to model years 2024 and 2026, requiring an industry-wide fuel economy average of approximately 49 miles per gallon (mpg) for passenger cars and light trucks for model year 2026. The new standards will increase fuel efficiency 8 percent annually for model years 2024 to 2025 and 10 percent for model year 2026.
Biden also announced the signing of an executive order for 50% of all new vehicles by 2030 to be either battery electric, plug-in hybrid electric, or fuel cell.
You don't think the oil companies see the writing on the wall ? Why would they dump millions or more into development for an industry that will be seeing so much change coming in the future ? They've got shareholders (I'm one of them) to keep happy.
Lol....yeah, and the markets were going to tank (Mark Cuban), and he was going to start world war three. And none of that happened. Yet here we are with this **** show of an administration. SHM...
I agree Biden is a disaster. He should be impeached or something pronto. I am merely insinuating that if Trump had gotten re-elected we'd probably never have gotten him out with the Repubs in full control of the house and senate in 2028. They'd have voted to make him "President for Life" like Putin, his hero.
I agree Biden is a disaster. He should be impeached or something pronto. I am merely insinuating that if Trump had gotten re-elected we'd probably never have gotten him out with the Repubs in full control of the house and senate in 2028. They'd have voted to make him "President for Life" like Putin, his hero.
The American system is designed so that removing a bad president from office is basically impossible. People don’t seem to understand this basic fault…
Trump is a unique case. I can’t remember any president (democrat or republican) who hijacked a party for his personal benefit and people supporting him even after he left office. That is unprecedented and if someone told me that in the past, I wouldn’t believe it is possible is US.
I agree Biden is a disaster. He should be impeached or something pronto. I am merely insinuating that if Trump had gotten re-elected we'd probably never have gotten him out with the Repubs in full control of the house and senate in 2028. They'd have voted to make him "President for Life" like Putin, his hero.
Haven’t you heard? We now have court testimony that Hilary authorized that lie.
It’s bunk. Fake news. Hogwash. Garbage. Untrue.
I know, there are so many lies put out by the Democrats that it’s hard to keep up.
The American system is designed so that removing a bad president from office is basically impossible. People don’t seem to understand this basic fault…
Trump is a unique case. I can’t remember any president (democrat or republican) who hijacked a party for his personal benefit and people supporting him even after he left office. That is unprecedented and if someone told me that in the past, I wouldn’t believe it is possible is US.
You've got some pretty keen insight. Trump is a phenomenon. Never were more Americans--roughly half the nation so eager and willing to reward bad behavior--and not just bad behavior but outright callous, criminal, in-it-for-no-one-but-himself behavior. Completely baffling.
...but anyone with half a brain has figured that out already
Biden > "When it comes to the gas prices, we’re going through an incredible transition that is taking place that God willing when it’s over we’ll be stronger and the world will be stronger and less reliant on fossil fuels."
"Wait til these idiots find out we don’t have clean energy replacements for our energy needs! Then things are really going to get real."
I will ask again....What did Mr MaGoo do to increase the current price of gasoline?
I am not talking about optics or what might or might not happen five years from now.
Is it just a supply and demand issue?
Gas was around $2 a gallon 20 years ago. Just about everything has doubled in price since then so why is it big surprise to see gas the prices now?
Quote:
Originally Posted by Wapasha
As soon as Biden was sworn into office he started signing executive orders to harm oil production. This caused future concerns for oil production and started the immediate rise in oil prices and gas.
On Biden's second day in office he signed Executive Order on Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis. The biggest impact from that Executive Order was the cancellation of the Keystone XL pipeline, which destroyed 120,000 jobs, forced companies into either bankruptcy or severely harmed their ability to do business.
But there is no mention of fracking in this executive order.
The next week the Biden administration issued Secretarial Order No. 3395, which implemented a 60-day suspension of new oil and gas leasing and drilling permits for federal land and water.
Followed shortly be an Executive Order on Tackling the Climate Crisis at Home and Abroad. This implemented an indefinite “pause on new oil and natural gas leases on public lands.” And this was in the first month in office.
Biden also wants to eliminate the tax laws for percentage depletion deduction, which will severely harm small independent oil producers. The big oil companies like Exxon cannot even take advantage of those tax laws.
Not one of those items has anything to do with current prices you could argue that they will effect prices years from now.
Again what has Biden done to increase current gas prices?
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Trump is a phenomenon. Never were more Americans--roughly half the nation so eager and willing to reward bad behavior--and not just bad behavior but outright callous, criminal, in-it-for-no-one-but-himself behavior. Completely baffling. 
