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Saw a station at $2.96 today. Most are around $3.20-$3.30 right now. The $3.20 stations were at ~$3 a few days ago.
Easily add a dollar increase to that before the end of this year. Right around the holiday shopping season, which will probably ground to a halt and devastate the retail industry. The effects on our economy will be enormous.
Of course all Joe has to do is open the spigots in the US. Oil industry experts say we could easily start pumping 15 million barrels a day, which would lower prices back to the $2 ish dollar range and revive our economy.
Yet Joe would rather get on his knees and grovel to our enemies for more oil while they laugh at him.
I did look it up, and your information was verified by multiple sources. But I'm a bit confused. Every time I look up American oil consumption per day, it says about 20 million barrels. When I look up American oil production per day it says about 11-12 million. This would mean a deficit of 8 million barrels per day.
From what I can tell, the reason these numbers don't align is because "Petroleum" is defined as "crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels."
Basically, although we import more than 8 million more barrels of crude oil than we produce/export, we are exporting massive amounts of liquified natural gas and ethanol.
Dems just proposed the removal of US troops from Saudi Arabia as revenge for OPEC cutting production.
LOL, talk about sore losers.
Quote:
Democratic Reps. Tom Malinowski of New Jersey, Sean Casten of Illinois and Susan Wild of Pennsylvania have introduced legislation asking for the withdrawal of all U.S. troops from Saudi Arabia and the United Arab Emirates, after OPEC announced its decision to curb oil production on Wednesday.
Are we surprised that Biden messed this up? I’m not. This idiot hasn’t gotten anything right in the last 20 months. Basically, we’re screwed and Biden is too stupid to see it. Biden is the poster boy for “failing upwards” and into the highest position in the United States. Thanks to all the Low Information voters who were too stupid to see that they were being lied too AND being too stupid to fall for every single BS gimmicks thrown out there by the media and big tech.
As for the Saudis, are we shocked that they basically told Biden to pound sand? I’m not since President Potato was talking “chet” about their Crown Prince, who is now running their show. Even when Potato flew to Saudi Arabia to beg them to increase production, you knew this wasn’t going to happen since Potato left without a commitment… So much for a win, Mr. Big Guy.
Sadly, a lot of people are going to have a very cold winter, thanks to Biden’s complete incompetence.
Honestly, if it really gets bad this Winter, I hope Trump tells the Biden Administration to kiss off and flies to Saudi Arabia and broker a deal with the Crown Prince, as a private citizen. I’d bet Trump would leave with a sweetheart deal that will not cost the American people one cent. Basically, the payment to the Saudis would be giving Biden the biggest “pimp slap” in recorded history. All the Saudi’s official spokesman need to say is that do to Mr. Trump’s love for the American people, it touched the Crown Prince and he has now agreed to increase oil production by 2.5 million barrels a day to ease the suffering of the American people.
Well, if Hunter can fly over to China, on Air Force -Two and make deals with the Communist Chinese, that enriches ALL the Bidens, including the “Big Guy,” then Trump can fly to Saudi Arabia and make a deal for the American people…. What’s the difference??
Easily add a dollar increase to that before the end of this year. Right around the holiday shopping season, which will probably ground to a halt and devastate the retail industry. The effects on our economy will be enormous.
Of course all Joe has to do is open the spigots in the US. Oil industry experts say we could easily start pumping 15 million barrels a day, which would lower prices back to the $2 ish dollar range and revive our economy.
Yet Joe would rather get on his knees and grovel to our enemies for more oil while they laugh at him.
We haven't even mentioned heating oil.
Nor that new 15% corporate tax that will kick in Jan 1 2023.
Remember..."tax those filthy rich corporations" ?
The Biden administration accused members of the OPEC+ exporting cartel of siding with Russia — and announced the release of still more oil from America’s Strategic Petroleum Reserve — after the group agreed to snub US outreach and collectively reduce production.
OPEC+, led by Saudi Arabian Prince Abdulaziz bin Salman, said it would collectively reduce output by 2 million barrels per day beginning in November despite Biden’s July trip to Saudi Arabia to woo Saudi Arabian Crown Prince Mohammad bin Salman.
Biden responded by abruptly announcing that he would release 10 million more barrels from the US strategic reserve next month to offset the cuts by OPEC+ that are likely to boost prices at the pump ahead of the Nov. 8 midterm elections.
...
“Biden’s on track to practically empty our strategic oil reserves to get Democrats elected in November,” tweeted political commentator Eddie Zipperer of Georgia’s Reinhardt University. “Canceling the Keystone Pipeline was a history-book-level screw up.”
What's interesting is that this is getting coverage now, but the DOE announced this two weeks ago.
The U.S. Department of Energy’s (DOE) Office of Petroleum Reserves today announced a Notice of Sale of up to 10 million barrels of crude oil to be delivered from the Strategic Petroleum Reserve (SPR) in November 2022.
...
The President’s announcement authorized DOE to release up to 180 million barrels from the SPR to serve as a wartime bridge as domestic production—which is expected to reach a new record next year—ramps back up. This historic release of SPR crude has already provided approximately 155 million barrels of crude oil supply to the U.S. economy—resulting in certainty of supply for American consumers. Today’s announcement will bring the total to 165 million barrels out of the 180 million barrels the President authorized in March.
Thank you, President Biden, for killing our energy independence, during your first day in office...
Give the man a break! Open your eyes people!! Can't you see how well he's Building Back Better...AND unifying our country?? He also CLOSED our border! And he keeps surrounding himself with topnotch people! Another good thing he's done is promise not to raise taxes on those of us earning less than $400,000 per year! WHEW!! PLUS, he's hiring 87,000 IRS agents to audit us to see how much money the IRS can return to those of us who have overpaid our taxes!
So Russian pipelines damaged.
OPEC cut production
US running low on strategic reserves
A perfect storm is brewing.....
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