Posted on 11/04/2021 8:40:00 AM PDT by JV3MRC
His very first act as POTUS was to close the pipeline and cancel offshore drilling contracts. But according to the left that had no impact on gas prices.
“Krugman’s economic assertions are actually political. Nah!!!”
He may just be pointing out, in a very polite way, that Trump was effective, but Biden is feckless, so we need to lower our expectations.
I’m confused. If I have to order something in that I buy and have to pay freight, at the least, aren’t I spending more money than I have to if the product is on the corner store like a gas station that gets the oil from US refineries? And if you shut down the stations’ ability to get local gas, and they have to pay the freight from overseas, isn’t the price going to go up? And if the seller, like OPEC, knows they can rip you off at the pumps by you using their gas, can’t they do anything they want with price just short of you telling them where to go?
Simple remedy, open up pipelines, more drilling in ANWAR, and get rid of the Biden initiative, (executive order), to stop new drilling in the west where huge components of oil and natural gas exist.
“Natural gas reserves in the Rocky Mountain States account for nearly 22 percent of the total natural gas reserves in the United States, and are mostly located in unconventional tight‐gas or coalbed formations.”
https://www.eia.gov/analysis/pdfpages/rockies_natgas_2007index.php
More oil resources are deposited in the Rocky Mountain region of Colorado, Utah, and Wyoming than the entire world’s proven oil reserves combined.
https://carnegieendowment.org/2015/01/05/abundance-of-oils-in-water-stressed-rockies-pub-57637
We’ve got so much oil we can tell them what they will pay. And that amount doesn’t relate to places like Texas, Oklahoma, Alaska, and California which also produce a huge amount of oil and natural gas.
https://www.statista.com/statistics/714376/crude-oil-production-by-us-state/
The problem is not the oil companies, it’s the government ordering them not to do what they do legally.
wy69
Fixed it, but yeah.
When has Krugman ever been right about anything? I never read his columns.
Nothing new here really given Krugman has long been a walking, talking, and breathing contradiction...
How did that ass clown Krugman ever get that Nobel prize???????
“American oil companies should drill in Russia.”
Unlike the USA, Russia doesn’t usually sell out its strategic resources to its rivals.
Russia is smart.
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