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CRUDE FLIP-FLOP: Biden’s Energy Sec Now Open To Oil Ban, But Will It Actually Lower Gas Prices?
DAILYCALLER.COM ^ | 5/26/2022 | thomas catanacci

Posted on 05/26/2022 7:31:28 AM PDT by bitt

click here to read article


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To: bitt

What we need is a tariff in IMPORTED crude. The makes domestic oil even more valuable hence more domestic supply will be economically feasible IF THE GOVT GETS OUT OF THE WAY..


21 posted on 05/26/2022 8:42:11 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: bitt

DRILL OUR OWN———

KEEP OUR OWN————

REFILL THE STRATEGIC RESERVE————


22 posted on 05/26/2022 10:33:38 AM PDT by ridesthemiles
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To: bitt

She’s as qualified as Buttigeig is in charge of our supply chain.


23 posted on 05/26/2022 10:35:42 AM PDT by 1Old Pro
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To: bray

Bunch of gobbledygook while they wreck everything.


24 posted on 05/26/2022 10:44:11 AM PDT by Luke21
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To: Organic Panic; GOPJ; DoughtyOne
Biden gang makes a move to punish the US energy sector....again.

Note: They have not enacted this policy yet, but AFAIK it's not a ban on exploration/drilling/production, but it would make it harder to sell "less desirable" oil. They could always make it worse than they are revealing now.

25 posted on 05/26/2022 11:02:18 AM PDT by ding_dong_daddy_from_dumas (Re-imagine the media!)
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To: bitt

Let’s see: Oil Ban = Lower Gas Prices
So then: Pouring stacks of money out the window = greater wealth.

Got it?


26 posted on 05/26/2022 11:12:35 AM PDT by JewishRighter
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To: bitt

Bringing back the oil export ban will penalize the domestic industry by depriving them of a market open to all other global producers. Global price will go up but domestic prices will not come down. We will still have to compete with other consuming countries for available global reserves.

Because domestic producers will lose access to this market, it will cause the economic destruction of a huge amount of domestic energy infrastructure, such as export terminals and pipelines constructed to export Eagle Ford and Permian oil. Domestic producers are already having a difficult time finding pipelines to get their production to market. This will only get worse. So by not allowing the market to efficiently allocate assets, the government will penalize US producers and punish US consumers, all at the same time.

Bingo!


27 posted on 05/26/2022 11:20:44 AM PDT by con-surf-ative
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To: bitt

so they are going to stop selling off our oil reserves ?


28 posted on 05/26/2022 12:15:27 PM PDT by stylin19a (You cannot multiply wealth by dividing it)
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To: bitt

Dumbass premise.

If anything that they did lowered gas prices right now, it would be a concession that “Putin’s Price Hike” was all BS.

No, US oil prices pegged to the international market will not go down by limiting exports. It will probably cause a rise in crude oil prices.

Elimination of market disruption and the volatility of Xiden administration policies would stem the rise...

...but it ain’t gonna happen.


29 posted on 05/26/2022 12:24:40 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: bitt

What is the definition of insanity?
Doing the same thing over and over and expecting a different result each time.🙄


30 posted on 05/26/2022 6:34:35 PM PDT by BiteYourSelf ( Earth first we'll strip mine the other planets later.)
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To: bitt

The USA shut down over a million bbl per day in refinery capacity during the demand drop off during the pandemic. Those refinery that were shut are not coming back online. Most were disassembled and the ones that were not it’s too expensive to bring them back to working order. The limit is not crude oil the USA is exporting oil there is plenty of supply the bottleneck is the refinery capacity and that is a structural problem. There is no drill baby drill out of this bottleneck. We need to import at least a million bbl of REFINED products to fill that shortfall.cutting off oil exports would just raise the prices of imported refined products more. Worse would be to ban the export of refined products as the other producers would follow suit cutting us off from imports. We have a net import flow of refined products gasoline and jet fuels. We export diesel because Europe used mostly diesel they have a surplus of gasoline. The short term solution is to subsidize the opening of shut down refineries the oil companies nor bank investors will fund it there is no long term upside. Then get the EPA to approve expansion at existing plants with modern equipment again this would need subsidy wall street nor the VC capital industry is funding fossil fuels anymore that’s just the world we live in.


31 posted on 05/27/2022 9:52:52 AM PDT by JD_UTDallas ("Veni Vidi Vici" )
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