Posted on 03/09/2022 11:19:06 AM PST by conservative98
HOUSTON – As U.S. gas prices hit record highs amid Russia's war on Ukraine, energy industry insiders say Americans can expect soaring prices to linger at least as long as Russian President Vladimir Putin's brutal invasion lasts.
(Excerpt) Read more at foxbusiness.com ...
They will last beyond that, Russia is a minor problem compared to inflation.
Fox, CNN, et all are busy trying to educate Americans on gas price increases.
They all fail to mention that under Trump we were energy independent for the first time in history.
They also fail to mention that Biden’s first act as president was to undo Trump’s policies that gave us this independence.
It’s the elephant in the room, and the uniparty is trying to hide it.
True. And Biden said yesterday, that the policies of his administration are not inhibiting the development of America’s oil and gas resources. Sounds like a bald face lie to me, but he said it, and the media will report it without any review of the facts.
Jen Psaki said too, that oil companies have all these leases out there, for resource development, which they haven’t used yet. So there too, the media will parrot back whatever she says as gospel, with no review of facts.
People do not understand the DEMAND for oil is pretty steady.
It is all about the SUPPLY side.
The US has decreased the amount of oil it is producing ever since Biden took office. US future oil production is going to be lower next year and for the foreseeable future. Therefore, people are speculating that the price of oil will go up. We are the biggest consumer of oil in the world.
The Russian oil will still get sold to some buyer at some price. It probably will not be as high, but it will get sold into the worldwide market somewhere.
OPEC wants to keep prices high. It is not in their best interest to increase production. However, they also know if the price goes too high it can put the whole world into a recession. Then demand will go down. Then their profits go down. It is a fine line.
Most likely we will be in a recession by the third quarter anyway.
Now you are projecting that there is both common sense out there and people that actually want America to prosper.
Pretty much. Contrary to what the experts say markets are not efficient. Madness now and madness when it was - $30.
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