Posted on 07/20/2022 6:48:42 AM PDT by SeekAndFind
For months, we have been told by the Biden administration that the reason for the high gas price is Vladimir Putin’s war on Ukraine.
The purpose of those talking points is to divert blame from Biden’s policies to destroy the fossil fuel industry.
Now that prices have come down a little they are claiming credit for the price decline.
Here's the latest from Biden's White House economic advisor Jared Bernstein, in a press briefing off the White House website:
While there’s a lot that goes into setting the global oil and gas price, the historic actions taken by President Biden to address the impact of Putin’s invasion of Ukraine have helped and continue to help to increase the global supply of oil and therefore are in the mix of factors driving down the price.
Because the President’s announcement on releasing 180 million barrels from our Strategic Petroleum Reserve and another 60 million from our global partners was back in March, I suspect there are people who forget about this critically important intervention in energy markets.
But this action is very much in play in today’s market, currently releasing a record 1 million barrels of oil per day on average and 84 million barrels so far.
These releases have had an outsized effect at a time when the market is especially tight.
(Excerpt) Read more at americanthinker.com ...
Adam Smith?
China. They’ve been keeping their entire country lockdown half the time.
Supply and demand. Kamala’s use of lubricant had something to do with the increase, we know that. The decrease is puzzling.
Oil prices
Biden March 2021: “Trump’s fault”
Biden September 2021: “It’s not that bad”
Biden March 2022: “Putin’s fault”
Biden July 2022 (when prices drop slighly): “BIG WIN FOR US! I DID THAT!”
good question, looks manipulated to me
So a commodity’s price increases by 200%, then drops 10% and somebody wants a pat on the back?
LOL.
5.56mm
Just wait until Joe declares his Fake Emergency and banns drilling
Me.
I have not put gas in my car in a month. Supply - Demand
F this. We’re being conditioned to believe $4 for a gallon of gas is optimal. Yay!!!
The biden recession/depression coming up!
The market. Supply and demand.
I think it’s Brandon dipping into our reserves. IMHO
When gasoline/oil/economy drops back to Trump era prices...only then will I consider who deserves ANY credit. Until then its all blame!
Just wait until Joe declares his Fake Emergency and banns drilling
~~~
Part of me really hopes he does.
Don’t forget how the commodities market works. They speculate on prices (demand/supply) 6months to a year in the future. That basically means prices should go up rather quickly.
Am I bad? I actually want us to suffer in the short term, because I actually believe getting these phooktards out of power will help everyone in the long run, even the idiots who refuse to acknowledge it when they are better off.
The credit goes to the strength of the U.S. dollar. Oil is a commodity that is traded on global markets, so the strongest currency sees the best prices.
The invisible hand?
$4.65/gallon is still more than $2.25/gallon. Thanks Joe.
Falling demand both here in the US and aboard. Millions who would have traveled for their vacation time have chosen a “Staycation” instead, almost a virtual lockdown.
People drive less, they use less. Notice that Diesel fuel prices have NOT dropped commensurately. The trucks still have to roll, but all of us are paying the higher fuel costs by the escalating prices on the goods delivered by truck.
Smith had a third hand?
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