Posted on 11/24/2021 8:30:58 AM PST by SeekAndFind
With great fanfare from the press and a shrug from the markets, Presidentish Joe Biden announced his plan to basically do nothing about the high price of oil and gas.
Of all the inflationary pressures putting the squeeze on Americans’ household budgets — beef up 20% since 2020, pork up 14%, ham up 7%, chicken up 9%, seafood 7%, eggs up 12% — perhaps none has hurt as much as the increase in the price of a gallon of gas.
Gas is up an average of 57% this year, with corresponding increases of 44% for diesel and a whopping 60% for fuel oil.
To give you an idea of how seriously the Biden Administration is taking your concerns, on Monday the White House announced a bold plan that very nearly pretends to care.
Biden will release 50 million barrels of oil from the Strategic Petroleum Reserve. While 50 million of anything sounds like a lot, that’s only about two-and-a-half days’ worth of our crude oil needs. And remember, the SPR is something that we can only tap a few times — it’s currently at about 600 million barrels — before it’s empty.
What we need is to produce more oil, but by shutting down pipelines and essentially waging war against fracking, Biden is effectively strangling our ability to increase production when we need it most.
U.S. oil production is at 87% of pre-pandemic highs, despite the fact that our GDP has actually recovered (not counting for inflation). OPEC is at about 90%, but when Biden asked them to pump more, OPEC shrugged. Why should they cut their profits to help Biden recover from his own enmity towards domestic energy production?
Worse, the Biden Administration has decided to launch a vindictive legal campaign against oil producers
(Excerpt) Read more at pjmedia.com ...
Rather than relieve regulatory roadblocks to affordable energy—such as lifting the Jones Act and the ethanol mandate — Biden has used his bully pulpit from Day One to vilify the oil industry. He has aggressively deployed regulators across the executive branch to make it more difficult to explore for and produce oil, construct and operate pipelines, access financing and private sector investment, and use gasoline in cars and trucks.
Keep in mind the role distillate fuels play in the overall inflation rate. The distribution costs of moving products and food around the country is massive and President Dufus caused a good part of the current inflation rate by killing the Keystone Pipeline and restricting offshore and federal lands oil exploration. Why would be do that? In part, it’s a payoff to Warren Buffet’s political contributions because he owns the only rail line between the ND oil fields and the Mississippi Delta refineries and also because it’s Obama who is the puppeteer for Joe Biden and he simply doesn’t like the US.
Shut down pipeline construction, ban exploration and extraction on federal lands. Then what? Go to OPEC and ask them to expand production! And then tell American citizens to just lump it. And blame price increase on greedy energy corporations.
It’s like that other dufus, Cuomo. New York has a massive abundance of natural gas, but Cuomo shut down natural gas drilling. A company I used to work for (30 years ago) noticed bubbles in the parking lot on a rainy day. The following month they sank a shallow well and had enough gas to power the entire plant with about 5 times that amount getting pumped back into the natural gas pipeline. Result: free gas and a monthly check from the gas company to boot.
Yesterday, my wife and did some errands/shopping in connection with Thanksgiving.
We passed 4 filling stations (2 generic and 2 name brand gasoline stations).
All 4 were over $5 per gallon.
That explains why people were lined up at those gas stations for the week before the price increases.
RE: All 4 were over $5 per gallon.
Let me guess... you live in California?
Here in New York, we can still fill our tanks for $3.40 a gallon ( that was way up from $2.80 last year in my area ).
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It was a deal cut in the spending bill, selling off all of the oil reserve to raise six billion dollars to waste on democrat’s pork.
First sales went to China, mainly.
Your guess was correct.
Basically, the counties north of Gay Frisco and the county NE of Frisco had similar increases.
Gassing up Thanksgiving week is sorta of a tradition in these areas to beat the actual Thanksgiving price increases.
So the word must have been out to gas up last week.
Commiefornia and the people Republic of New York can wallow in the suck they created. Crap in your nest and like it.dummies. Gas is $2.73 a gallon at the Costco or Sam’s in Plano Texas as of right now I just picked up a whole 3 lb cooked rotisserie chicken for $4.95 while I was there as well as some bone in NY strips for $4.99 lb in the family packs. Texas has not lost our minds nor let commies crap in our nest yet.
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