The global leaders may be evil and dictators, but they prefer a worthy opponent, not a diapered idiot.
Posted on 10/06/2022 7:47:34 AM PDT by MNDude
Gas prices that are already ticking back up again might increase another 10% or more following a move by the Organization of the Petroleum Exporting Countries and its allies to cut oil production by 2 million barrels a day.
The Biden administration — which has put a high priority on bringing gas prices down ahead of the 2022 midterm elections — was quick to lash out at OPEC’s decision. As the WaPo reported, administration officials have pressured OPEC leader Saudi Arabia to produce more oil to compensate for the global shortage caused by Russia’s invasion of Ukraine. President Biden himself even visited Saudi leaders during a trip to Jiddah.
“The President is disappointed by the shortsighted decision by OPEC Plus to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine,” U.S. national security adviser Jake Sullivan and National Economic Council Director Brian Deese said in a joint statement.
The White House does have a couple of options to help offset OPEC’s move. One is to tap into the U.S.’s strategic petroleum reserve, which it has already done this year. Another is to lobby hard for passage of the No Oil Producing and Exporting Cartels bill, which would penalize other oil-producing countries by opening them up to antitrust suits.
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A lot, but not until after the Election.
Think again. OPEC set the precedent in 1973 shortly after the Yom Kippur War. They used the pretext of retaliation for support for Israel, but in reality, the US had controlled the Saudi Reserves since they and the British developed them. They decided that they were giving away their reserves to a foreign entity, so they ‘embargoed’ the US. I remember that the price of oil shot up from $3.50 per barrel to about $40 per barrel, almost overnight. Gasoline, which is your question, went from about 80 cents per gallon to nearly $3 per gallon in short order. So it could rise to any level. The fact is that the Bidenites have decided to kill all oil and gas production, so there will be more pressure on diesel and other products, which RUN the country’s commerce. Good Luck! Plan accordingly.
The global leaders may be evil and dictators, but they prefer a worthy opponent, not a diapered idiot.
Their first step will be ‘price controls’, which means very long lines and rationing (that is what they did in 1973). Welcome to the Biden Green World.
Stupid is as stupid does.
Neither are valid options. These people are morons. Drawing the SPR put America at long term risk, beginning in the near term. It has little effect at lower prices at the pump. It had great effect in emboldening our enemies. As for penalizing OPEC counties, someone please provide an example when sanctions have ever worked.
Face it. The world does not respect Biden, and thusly the world doesn’t respect America. The world is not going to work with us. We need to take things in our own hands and use the option not mentioned in the article. Stop this bogus green energy scam and drill baby, drill. Make America energy abundant and dominant. Not a single tax dollar should ever be spent on climate change and alternative energy production and solutions. That means no more subsides for solar, wind, EVs, ethanol, bio-fuels, etc. Cut every once of government related to this crap.
A buck a gallon on top of what we are paying now.
Then, if the gop take back the legislature, we will see the impeachment proceedings start and all hell will break out.
The nazicRATS cant stand getting even with.
In normal times, you would be correct. But I suspect that the first ‘remedy’ will be price controls. And what that does is insure LONG LINES and rationing. Although if you are lucky enough to get it, it will be cheaper. That way, he can blame Greedy Oil Companies, OPEC, and Putin for the scarcity and that HE has done all that can be done (except for drilling).
“White House does have a couple of options to help offset OPEC’s move”
None that include domestic production.
25 cents? That’s a relief to know that almost all of the price increase has already taken effect at the local gas station, then. The price of regular went up 24 cents between 11:30 and 3:00 yesterday. I should have filled up in the morning.
Don’t worry. Mr Biden guarantees gasoline will never go above $100 / gal
If it goes above $10/gal, most pumps will need to be retrofitted to accommodate prices above $9.999.
Hey. Mr Biden can always dip into strategic reserve every day to deliver millions of gallons to keep prices below $1/gallon. Dream along with me...
Here’s what I don’t get. If the purpose of cutting oil production in the USA, is to prevent GLOBAL WARMING, what’s the deal of wanting other countries to produce more oil, does their oil cause GLOBAL COOLING?
West coast pumps were retrofitted to accommodate double digit per gallon prices last winter
This mis-administration is trying to buy oil from Venezuela now....which is some of the dirtiest oil in the world..the extra refining costs will definitely make it $10/gal by Christmas
The era of “energy supply is a weapon in the global power struggle”.
All they have to do is change the “gallon” to half-gallon.
Beautiful!
The gas you buy today was bought as oil about a month ago.
Today’s price is the November price.
Back up to $6.50 a gallon for diesel here. After the mid terms expect another $1.50 a gallon at least. Especially in idiot states run by idiot democrats who are all proposing new gasoline taxes to punish those “greedy” oil companies.
“One is to tap into the U.S.’s strategic petroleum reserve, which it has already done this year. Another is to lobby hard for passage of the No Oil Producing and Exporting Cartels bill, which would penalize other oil-producing countries by opening them up to antitrust suits.”
Of course nothing to open up domestic production from the chomo in chief.
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