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Gas prices coming down. Also,
U.S. oil output climbed to nearly 12 million barrels per day (bpd) in August, government figures showed on Monday, the highest since the onset of the COVID-19 pandemic.....
A little over two years after the pandemic wrecked havoc on demand and slashed profits, four of the five largest global oil companies brought in roughly $50 billion in net income in the most recent quarter....
Natural gas production in the United States hit another record, with gross output in the lower 48 states rising 0.6 billion cubic feet per day (bcfd) to 110.6 bcfd in August. https://www.reuters.com/business/ene...hs-2022-10-31/
Now let's hear again about Biden's "war on fossil fuels".
Gas prices coming down. Also,
U.S. oil output climbed to nearly 12 million barrels per day (bpd) in August, government figures showed on Monday, the highest since the onset of the COVID-19 pandemic.....
A little over two years after the pandemic wrecked havoc on demand and slashed profits, four of the five largest global oil companies brought in roughly $50 billion in net income in the most recent quarter....
Natural gas production in the United States hit another record, with gross output in the lower 48 states rising 0.6 billion cubic feet per day (bcfd) to 110.6 bcfd in August. https://www.reuters.com/business/ene...hs-2022-10-31/
Now let's hear again about Biden's "war on fossil fuels".
I kept hearing it was the greedy oil companies and the gas station owners.
It lets you know where the market was before the Cadaver in Chief took office.
Diesel is still a mess, so I guess I'll have to be careful when driving my 970 lb-ft of torque F-350 diesel to Costco to buy a pack of 2 dozen eggs, as well as virtually every other grocery item, that have doubled in price due to inflation.
And speaking of inflation, in 2020, it was below 2%. Currently, it's above 8%.
This administration has been openly hostile towards fossil fuels since day 1s cancelling of the Keystone permit.
Keystone permit wasn't about American fossil fuel -- you know that right?
You know it was about sending oil for refining in USA from Canada and then export out of country.
Yolu know that Canada 'rerouted' the pipeline and ended up breaking records in the amt. of oil processed and exported.
So --- MASSIVE fail to suggest the KEYSTONE impacted American fossil fuels.
Next let's talk about the oil companies and how only about 10% cited federal, state, local and social issues as to why they didn't ramp production u to pre-pandemic levels. How almost 70 percent of them admitted they were choosing NOT to ramp up to recover the money they lost in 2020 and securing their financial stiuation.
The Ukraine/Russia war and OPEC's hold on global prices impacted our prices too.
And Americans are naive to think any US President has power over OPEC.
It lets you know where the market was before the Cadaver in Chief took office.
Diesel is still a mess, so I guess I'll have to be careful when driving my 970 lb-ft of torque F-350 diesel to Costco to buy a pack of 2 dozen eggs, as well as virtually every other grocery item, that have doubled in price due to inflation.
And speaking of inflation, in 2020, it was below 2%. Currently, it's above 8%.
You do the math, we'll decide.
Yup inflation is bad.
Surge in demand for goods, supply low, the war, broken supply chains, oil companies postponing raming up their production of oil and yes 2 years (2020 and 2021) of government spending........
2020 got us into this mess....using it as some measure of when life was good seems to be misleading.
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