Oil prices going higher? Not to worry - Janet Yellen is on it; She’s watching the markets with an eagle eye!
It’s OK. We’ll just tap into that Strategic Petroleum Reserve. That’s around here somewhere ... right?
It isn’t a “Challenge”, it is a goal.
The challenge for them is how to get it that high without having their filthy rat-claws ripped from the levers of power before they can accomplish it.
The Democrats see high oil prices as helping sell EV’s. They love it!
And just like that the cost of goods and food just went up. AGAIN!
Not to worry Energy Secretary Granholm’s staff is blocking EV chargers with GSA gas cars so she can make a 4 hour trip in her EV to do her part to save the planet....evil people.
Joe Biden, on the campaign trail in 2008.
These people do tell you what they are! You just need to have two eats and a memory.
Yes - I thought we would see it by CHristmas, now it looks like by Halloween. This is about Saudi crushing Biden re-election in cooperation with Russia, keeping 1.3 MMBO per day off the market in the face of rising demand.
A direct result of Biden’s refusal to allow drilling in this country and all the while, the USA is almost floating on oil. Count on Biden to do whatever is not in our best interest. It’s like we have a President who hates America.
Oil at $100 is Saudi Arabia’s gift to America.
No democrat can be elected President with the high gas prices and ongoing inflation
Oil went to $150 a barrel during the GWB period — and that was when the dollar was still worth 3 cents vs. whatever it is worth now. But back then, we had an administration that was, correctly, in favor of keeping all energy options open because we don’t have a crystal ball and it makes sense to hedge our bets. The policy test then was to distinguish between energy systems that were entirely market viable vs. those that were approaching market viability, so it arguably made sense to provide enough of a boost to start scaling up, vs. those that should stay in the RD&D arena.
Somewhere in that decade, when oil rose to somewhere in the $60-80 range, ethanol became viable without subsidy. That’s when the great ethanol buildout took off. Then came fracking, another game changer. Wind and solar were also gaining some ground for off grid applications. All of that was legitimate.
So: the GWB administration was ok with coal and willing to explore carbon capture — at least it wasn’t sabotaging it on a massive scale — as well as pro-natural gas, pro-fracking, pro-biofuels, pro-nuclear, and pro aggressive development on wind, solar, hydrogen, and whatever else you can think of. Keep all options open, and be ready to scale up when they approached market viability.
Now we have a wrecking crew that has placed all its bets on all-electric everything, with electricity generated entirely by wind and solar — with U.S. rare earth production suppressed in favor of imports from China — and unicorn farts generated in the U.S.
Then we had a pro-energy, pro-growth strategy. Now we have an administration intent on pricing everything but electric out of reach.
Meanwhile, Biden stops more drilling leases in various places. WTG, Joe!
so $100 barrel of Oil = $5 a gallon?
It is right where Obama wanted it.
4.00 average.