Get Ready To Pay Historical Price For Gas Thanks Joe

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  1. Sharlee01 profile image84
    Sharlee01posted 2 years ago

    It well looks like Biden will break another historical record, gas prices. Get ready to celebrate yet another record-breaking feat by Biden. Weeeeee
    https://hubstatic.com/16179046.jpg
    So, Biden skrewed with our oil producers and Opec, and we now are the ones to pay the piper.   When will this inept man be asked to retire or impeached?   He is ruining America, and out and out dangerous to our security.

    He poured in oil from our reserves, and OPEC strikes back!  Got news they won Joe!

    October surprise? Why OPEC's planned price hike could pummel Democrats
    Midterms are coming up fast and Democrats know that a sharp rise in gas prices engineered by OPEC could destroy their plans

    The midterm elections are weeks away and OPEC+ is threatening to cut oil production. That’s not good news for you, the consumer; it’s also not good news for President Joe Biden and his fellow Democrats.

    Biden’s bump up in the polls over the past few months tracked declining gasoline prices. For nearly 100 days, gas prices went down. They peaked at a record high of more than $5 per gallon in June and reached a low of $3.67. Now, at $3.80, they have begun to head back up.

    According to the Real Clear Politics average of polls, Joe Biden’s "disapprove" rating peaked at the end of June at 57.3% and dropped to 53.1% in mid-September, along with the slide in gasoline prices. Since then, the percentage of voters expressing disapproval of Biden has inched higher, and GOP chances are looking brighter.

    Declining gasoline prices and Biden’s improving popularity cheered Democrats, who began to dream that voters would overlook the declining economy, soaring inflation, our open border and rampant crime, and instead choose representatives campaigning on climate change and abortion policy.   

    They knew better. They knew: "It’s the economy, stupid", as James Carville so bluntly put it, and that gasoline prices were key.

    That’s why Biden’s White House quietly decided to continue delivering oil from our Strategic Petroleum Reserve well past Election Day, even though the withdrawal program was meant to end October 31. 

    That’s also why a group of Democrat lawmakers wrote a letter begging the White House to continue releasing oil from the SPR through year-end "at a minimum", in order "to ensure that gasoline and oil prices continue their downward trajectory…"

    Unhappily for Democrats (and all Americans) OPEC+ is meeting this week and is reportedly set to cut oil production more than one million barrels per day in order to boost prices. If OPEC+ follows through on what the Wall Street Journal describes as its "most drastic reduction of production since the pandemic", it will offset Biden’s SPR withdrawals and push oil prices higher. 

    Here at home, rising oil and gasoline prices would fuel already-high inflation, forcing the Federal Reserve to press ahead with even more interest rate hikes, thus weakening our economy and our stock market.

    The impact would be worldwide; in the EU, rising energy costs are thrusting the region into recession.

    In short, OPEC’s decision could prove disastrous for the entire world, and for Joe Biden.

    OPEC+ CUTS GLOBAL OIL SUPPLIES, REVERSING SEPTEMBER INCREASE

    Why would OPEC+ plunge the world into even greater economic chaos? Simple: Russia wants more money to fuel its war with Ukraine and Saudi Arabia, the de facto head of OPEC+, is punishing Joe Biden.

    Russia’s economy is suffering from the rising costs of its unprovoked war with Ukraine, the cut-off of natural gas exports to Western Europe and the widespread sanctions levied on the country’s institutions and banks after it invaded its neighbor. Though its oil exports dropped after the war began, Russia’s revenues held up as oil prices soared midst the turmoil to more than $100 per barrel.

    The oil price drop to around $85 per barrel more recently has hit Russia’s economy hard, pushing the federal government budget into a deficit and causing the stock market to sell off sharply. Putin desperately needs higher prices.

    As to Saudi Arabia, remember that famous fist-bump? The greeting chosen by Joe Biden to virtue-signal that he would absolutely not deign to shake hands with Mohammed bin Salman, Crown Prince of Saudi Arabia, even as he begged OPEC’s de facto head for more oil?

    That fist-bump has cost him (and you) already as MBS, leader of OPEC’s major swing producer, declined to raise output in defiance of Biden’s pleas. The price tag could grow in the months ahead if he agrees to cut output.

    Since he became president, Joe Biden has gone out of his way to insult Saudi Arabia’s MBS, who just recently was elevated to the post of Prime Minister by his ailing father, King Salman bin Abdulaziz.   Biden told the Saudis early on he would not speak to MBS, whom he blamed for the murder of the journalist Jamal Khashoggi. 

    In addition, Biden canceled our military aid to the war in Yemen and rescinded the terrorist organization designation applied to the Houthis by President Trump, emboldening that group to step up their attacks on Saudi Arabia

    More recently, Biden continues to mulishly pursue a nuclear deal with Iran, Saudi Arabia’s bitter enemy. The effort to restore the Obama-era JCPOA flies in the face of ongoing malevolent activities by Iran and in spite of our very real self-interest in courting Saudi Arabia. Just in the past few days, Iran launched missiles against Kurdish fighters in Iraq, killing among others an American national.

    In another sign of its appeasement of Tehran’s mullahs, the Biden White House seems determined to stand by while the most consequential protests in decades rock Iran. Despite a supposed commitment to women’s rights, Joe Biden is unmoved by the tens of thousands streaming into the streets all over the country to protest the brutal beating death of a woman who dared to defy the morality police.

    We could, and should, do more.

    OPEC+ production has recently fallen short of its stated targeted amount. It may be that a proposed cut will only reflect existing output shortfalls, and not move markets. But the Biden White House has made us vulnerable to the whims of foreign (and some unfriendly) producers; that is inexcusable.

    Joe Biden should undertake an "all hands on deck" effort to raise U.S. oil and gas production, which would lower global oil prices and boost our economy. But that would offend Democrat climate zealots who are willingly putting out country at risk.

    In the midterm elections, let us hope Americans figure this out and vote for renewed and achievable energy independence, and for security.
    https://www.foxnews.com/opinion/october … -democrats

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  2. Ken Burgess profile image72
    Ken Burgessposted 2 years ago

    It won't effect the elections.

    There is enough left in the reserves they can keep releasing as much as needed to keep the prices down until the election is over.

    The pain will be felt in everyone's pockets (especially those that still drive ICE vehicles) after the elections are over and they stop using the reserves to negate the real cost of gas and oil.

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    1. Sharlee01 profile image84
      Sharlee01posted 2 years agoin reply to this

      I don't know Ken we here in Michigan are seeing the price literally go up daily. Today $4.25. I think we will see it jump over $5.00 before the election.

      Oil jumps more than 3% ahead of OPEC+ meeting on supply cuts.

      I agree after the election is when we will see major spiles. I predict historical gas prices.  OPEC and Major oil companies are out to destroy the Dems.  They need them and their new green deal is gone, and fast. And will make lots of cash getting rid of the Dems.

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      1. Ken Burgess profile image72
        Ken Burgessposted 2 years agoin reply to this

        Thats only a part of it.

        OPEC is who?

        Russia, and other nations that are none too happy with America.

        OPEC is none too happy about the Nord Stream sabotage either, while Americans may be easily fooled into thinking it was Russia that did it, those controlling OPEC are not.

        Then there is the deliberate effort to keep farmers globally from producing enough food this year, in the name of fighting climate change, in addition to Ukraine and Russia which will not be supplying their wheat resources, nations like Canada and Denmark have forced their farmers to make drastic changes, which in turn limits food production.

        https://www.riotimesonline.com/brazil-n … ust-begun/

        https://www.nationalreview.com/corner/n … mers-turn/

        This after a pandemic which crippled global trade routes and production.

        If you were deliberately trying to throw the world into chaos and ruination, what we have seen occurring since 2020 is the way to go... from antagonizing the world's largest nuclear weapons holder, to destabilizing food production across the globe... the West seems intent on destroying Civilization, not recovering from 2020.

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        1. Kathryn L Hill profile image80
          Kathryn L Hillposted 2 years agoin reply to this

          Can't we start impeachment proceedings?

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          1. Kathryn L Hill profile image80
            Kathryn L Hillposted 2 years agoin reply to this

            Is there no one to save us?

            Can we save ourselves?

            Is it because we are all orphans now that the previous generations, who fought so hard for this country and maintained it's freedom the best they could, have mostly passed on to the astral realms?

            and we never actually did grow up?

            Children in Congress, not willing to make responsible decisions, not willing to look out for the people who elected them and the others who put up with them ... not willing to see reality and comprehend what is at stake in any given scenario. Keeping people in office who never grew up, still talking and reminiscing about their mommies and daddies and what they said and did in speeches to diplomats of other countries! Still trying to look like one of the blues brothers wearing their sun glasses and suits. Still cuddling up to women and girls with over-familiarity, regardless of what cameras are trained on them. Still arrogant and pompous even though they are utter failures at leading the country toward a good and prosperous future. Even though their actions are literally treasonous.

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      2. tsmog profile image87
        tsmogposted 2 years agoin reply to this

        Another consideration. Here in my neck of the woods in San Diego county my usual gas station is at $6.49/gal for regular. There are some bandits over $7.00. Even if I drive blocks out of the way I may find it for $6.29. The cause is refineries doing maintenance. Six of fourteen have been taken offline.

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        1. Sharlee01 profile image84
          Sharlee01posted 2 years agoin reply to this

          Yes, and you think that was not done on purpose. OPEC announced today they will cut production not by the one million per day that some expected, but by 2 million a day.  Biden has made enemies of our oil industry, and OPEC. They want him gone with his new green deal. And I would predict they will bring home down much quicker than I thought.

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          1. Fayetteville Faye profile image61
            Fayetteville Fayeposted 2 years agoin reply to this

            Is it really President Biden though? Or is it just outrageous profit?  I'm not sure there's any president or leader around this world that has the charisma to convince Nations to turn away from outrageous profit.
            Not sure we'd have any of this difficulty if our natural resources were nationalized .... Like the OPEC nations. Seems to be working out exceedingly well for Saudi Arabia and their people

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            1. Sharlee01 profile image84
              Sharlee01posted 2 years agoin reply to this

              You are very correct. It would seem to me OPEC is ready to do war against those that support the green deal, which would ultimately cut their bottom line.  Do you feel the OPEC nations will just reply with a big OK we see your point, we will just help you now when you need us, but it will be fine with us when you tell us to close shop?  One needs to be very realistic when dealing with OPEC, and our oil companies. 

              They certainly will not cooperate with those that hope to put them out of business.  So, prices will go up, they will cause people in the EU to be mighty cold this winter, and we may need to use what's left of our reserves to keep us warm this winter, and to keep trucks on the roads to continue to supply us with food.  OR we will be importing oil and paying a very high price.   In my view, Biden is to blame. He has pushed his green deal, giving little thought to the fact our infrastructure is in no way close to supporting his grand transition.  It is also obvious that our very society which is at this point living week to week, and many below the poverty level can not afford to go GREEN... Yes, this in my view is Biden's fault.

              And you are correct this does work out very well for the Nation in OPEC, and some of its people.

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              1. Fayetteville Faye profile image61
                Fayetteville Fayeposted 2 years agoin reply to this

                But why be beholden to OPEC? If we could simply nationalize out own country's resources?  I don't think they are cutting production due to any green policies. I don't think we have any substantial green policies going on in this country whatsoever. President Biden is far from a climate warrior. OPEC is simply cutting production to keep their profits high because demand is lower.  Mostly due to China not being fully reopened and they're continual shutdowns with their zero covid policy. I believe they are the world's number one importer of oil, so if they're buying less we've got a problem. Those are the ups and downs of being tied into the global market. Hey, maybe America's natural resources should be for America first?

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                1. DrMark1961 profile image100
                  DrMark1961posted 2 years agoin reply to this

                  Yes, nationalizing the industry is the way to go. You can have multi-billionaires like the Saudi royal family while the rest of the country lives in poverty, and fat cats like Maduro in Venezuela while the rest of the population cannot even afford to buy a dozen eggs.

                  "Hey, maybe America's natural resources should be for America first?" Are you sure you are not a closet MAGA supporter?

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              2. Fayetteville Faye profile image61
                Fayetteville Fayeposted 2 years agoin reply to this

                But why be beholden to OPEC? If we could simply nationalize out own country's resources?  I don't think they are cutting production due to any green policies. I don't think we have any substantial green policies going on in this country whatsoever. President Biden is far from a climate warrior. OPEC is simply cutting production to keep their profits high because demand is lower.  Mostly due to China not being fully reopened and they're continual shutdowns with their zero covid policy. I believe they are the world's number one importer of oil, so if they're buying less we've got a problem. Those are the ups and downs of being tied into the global market

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                1. Sharlee01 profile image84
                  Sharlee01posted 2 years agoin reply to this

                  Under Trump, we were not beholden to anyone for energy. We exported... If Biden is not a climate warrior why all the bills that provide money for his Green dream?  Why did he even mess with the stays quo in regards to what Trump had fixed?   

                  China would profit the most from Biden's green adventure.

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                  1. Fayetteville Faye profile image61
                    Fayetteville Fayeposted 2 years agoin reply to this

                    In  the first half of 2022 (January–June), U.S. exports of petroleum products averaged nearly 6 million barrels per day (b/d), the most first-half-of-year exports in Petroleum Supply Monthly data, going back to 1973.

                    We are always going to be an importer and an exporter of oil that's the nature of the business.
                    While the U.S. has been a net petroleum products exporter for more than a decade, it has always been a net crude oil importer, that is, it imports more crude than it exports. 
                    Why? That happens because of a combination of economics and chemistry. The economics are simple: overseas oil, even after shipping costs, is often cheaper than domestically-produced crude. That is because what oil people call "lifting costs," the cost of actually getting the oil out of the ground, are so much lower in some other countries. at the same time, much of the oil we have in our country isn't the type we need.



                    https://www.eia.gov/todayinenergy/detail.php?id=53999

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              3. Kathryn L Hill profile image80
                Kathryn L Hillposted 2 years agoin reply to this

                +1

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              4. Kathryn L Hill profile image80
                Kathryn L Hillposted 2 years agoin reply to this
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          2. tsmog profile image87
            tsmogposted 2 years agoin reply to this

            Yes, I 'know' it is done on purpose to do refinery maintenance from a peek online. It is done a couple times of the year and always after high demand. Unfortunately from what I read it affects current supply/demand as it lowers supply.

            That does not say what you pointed out is invalid. My post was 'simply' additional information to consider, which currently is affecting Calif where gas prices are high today. Like I said I pay $6.49 and would love to pay what you do currently! It was not offered as argument to the info you provided.

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            1. Sharlee01 profile image84
              Sharlee01posted 2 years agoin reply to this

              Point is well made.

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            2. wilderness profile image94
              wildernessposted 2 years agoin reply to this

              I have not looked at this and am certainly not making excuses for refineries time schedule.

              But, having worked in a factory setting for 20 years, I do know that at times of high demand and operation maintenance is put off and machinery is run hard.  Are you being unreasonable in finding that maintenance shutdowns after such a period are intentional to increase prices?  Increases that do not benefit the plants shut down as they are producing nothing they can sell?

              Just a thought.

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              1. tsmog profile image87
                tsmogposted 2 years agoin reply to this

                I never ever what so ever said ". . . are intentional to increase of prices". I stated a consideration for higher prices is refineries issues, i.e. shutdowns and maintenance. I am no expert Wilderness, but do read for info. Article after article claim one reason for the high spike in gas prices here in Calif is due to refinery issues. Below is a link to a landing page from Google. Just pick any you choose to get info.

                https://www.google.com/search?client=fi … refineries

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                1. wilderness profile image94
                  wildernessposted 2 years agoin reply to this

                  Then I "read your mind" wrong and assumed an insinuation that was not there.  My apologies.

                  But I will add that the California gas tax (highest in the nation) certainly does nothing to produce low prices.  It won't contribute to a spike, but it certainly does to the long term pricing structure.

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                  1. tsmog profile image87
                    tsmogposted 2 years agoin reply to this

                    Thanks! Yes, our gas taxes suck and has for eons. And, July 1st it went up. All taxes and fees I think are now $1.23/gal . Interestingly PA state gas tax is higher than CA state gas tax; $0.576 vs. $0.539. That info is for Sept 2022 (See link below to state gas taxes) The lowest is Alaska at $0.0895.

                    Gas tax by state for 2022 by IGEN
                    https://igentax.com/gas-tax-state-2/

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                  2. Valeant profile image76
                    Valeantposted 2 years agoin reply to this

                    You do a lot of wrong mind reading and putting words into people's mouths.  Glad I'm not the only one annoyed by the practice.

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      3. Credence2 profile image79
        Credence2posted 2 years agoin reply to this

        I filled up yesterday and the price was $3.10 a gallon here in central Florida. The trend has definitely been down.

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        1. wilderness profile image94
          wildernessposted 2 years agoin reply to this

          Quit bragging.  We're still at $4.50 or so and climbing.

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          1. Credence2 profile image79
            Credence2posted 2 years agoin reply to this

            Come to Florida, there is plenty of room here. Maybe your state is tacking on too much tax per gallon?

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            1. Sharlee01 profile image84
              Sharlee01posted 2 years agoin reply to this

              So, lucky you have Desantis.

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              1. Credence2 profile image79
                Credence2posted 2 years agoin reply to this

                De Santis has nothing to do with it.

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                1. Sharlee01 profile image84
                  Sharlee01posted 2 years agoin reply to this

                  I just read this ---  Well this is what I was referring to anyway. Did he not do this during May 2022 too?   https://www.wlrn.org/transportation/202 … ax-holiday

                  "Florida drivers will soon save a bit at the pump.  Earlier this year, Gov. Ron DeSantis signed into law the Florida Motor Fuel Tax Relief Act, which does away with the gas tax for the entire month of October.

                  WMFE’s Talia Blake talked with University of Central Florida’sInstitute for Economic ForecastingDirector Sean Snaith about the program.

                  Florida’s Gas Tax holiday begins October 1, 2022. (photo: Florida Department of Revenue)"

                  Plus -- 
                  Florida's current congressional delegation in the 117th Congress consists of its two senators, both of whom are Republicans, and its 26 representatives: 16 Republicans, 9 Democrats

                  Conservatives at work...

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                  1. Credence2 profile image79
                    Credence2posted 2 years agoin reply to this

                    Point well taken, why are not other Republican states following the lead.

                    I don't like the DeSantis but I will given him credit where it is due.

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            2. wilderness profile image94
              wildernessposted 2 years agoin reply to this

              I doubt it - it recently announce a huge tax give BACK.

              But no - I didn't care for Florida, and I'm still driving on the tank of gas I put in in March, so the prices didn't hurt me much.  Only when I take the RV out.

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          2. Sharlee01 profile image84
            Sharlee01posted 2 years agoin reply to this

            Same here, once again for the 7th day in a row went up.

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      4. Valeant profile image76
        Valeantposted 2 years agoin reply to this

        Which is basically an admission of who is truly to blame for the price gouging of Americans and where the right just chooses partisanship in their blame games.

        And instead of siding with our country, a few posting in here are siding with the Saudis.  Just your latest example of the treason we on the left want voted out from those on the right.

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        1. Ken Burgess profile image72
          Ken Burgessposted 2 years agoin reply to this

          You are voting to crush the people, you are voting for the global reset, you are voting for global Stalanism.

          We have seen where your leaders are taking the world... Into WWIII... Into world wide ruination, suffering and poverty.

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          1. Valeant profile image76
            Valeantposted 2 years agoin reply to this

            Actually, I am voting against autocracy.  As usual, the intent of the left is completely misunderstood.  I've stated it often on here.  I am a single issue voter for the next few cycles.

            But I recognize when a foreign power tries to influence our elections to get a party more aligned with THEIR interests in power.

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            1. Ken Burgess profile image72
              Ken Burgessposted 2 years agoin reply to this

              That is an oversimplification of what foreign powers are doing.

              If a Republican President (Party of Power) in America were initiating actions that hurt those foreign power's interests, then they would act out just as they are now.

              You could say Biden has initiated war against OPEC, through various policies, regulations, actions. 

              Or/And in addition, this may be in response to Biden's war on Russia, on the Nord Stream sabotage, or any other actions OPEC may hold America responsible for.

              Or it may simply be to maintain the price of oil at a high level so that they can reap the profits which will be substantial for reasons such as:

              A) Restricted Oil and Natural Gas production in America.
              B) The Nord Stream sabotage
              C) Russia's Production of Oil and Gas being cut from Europe.

              These reasons give control of Oil prices to OPEC (Saudi Arabia more than anyone), Russia is limited, America is limited, both by the Biden Administration... giving full opportunity for OPEC to take advantage of the situation, to enrich themselves.

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              1. Valeant profile image76
                Valeantposted 2 years agoin reply to this

                If the policies that help our country combat climate change are a detriment to a foreign interest, you'd think that Americans would rally around their own.  Just not the case in this example.  Instead, they blame their own and absolve the foreign interest for the choice to try and inflict financial pain on Americans.  Grimy.

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                1. Ken Burgess profile image72
                  Ken Burgessposted 2 years agoin reply to this

                  The climate change policies are low on the list of reasons why OPEC is doing what it has chosen to do.

                  In fact, every other reason I listed above is a bigger reason than America's "combat climate change" efforts.

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                  1. Valeant profile image76
                    Valeantposted 2 years agoin reply to this

                    The climate change policies were literally part of the first reason you listed:
                    'A) Restricted Oil and Natural Gas production in America.'

                    The other two, B and C, were basically the same point.  One being a causation of the other.

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        2. Sharlee01 profile image84
          Sharlee01posted 2 years agoin reply to this

          I will admit I hope this recent move by OPEC will be the final nail to rid Congress and the White House of Democrats. I was very happy with the results Trump achieved in regard to energy.

          You know very well what I feel about Biden, I shared that when he was campaigning. I feel much of what I predicted has come to fruition. So, no I can't side with Biden or his administration. Just as you could not side with Trump and his administration.  Trump had faults, but the country was doing well under his administration, until COVID. I did not have one complaint about his job performance.

          It is clear that OPEC has declared a sort of war on Biden, in my view.

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          1. Valeant profile image76
            Valeantposted 2 years agoin reply to this

            Yes, I know how you feel, you tell us daily like beating a dead horse.  And the difference was, even though I had disdain for Trump, I never sided with a foreign nation over the United States.

            You did not complain about violating the human rights of children when they were separated from their families?  You had no issues with the massive deficits even before Covid hit?  That job gains and GDP were eerily similar to Obama's - which you deemed slow?

            I would think even someone partisan for Trump might have concerns about those issues.

            And that's fine that OPEC has declared war.  But that you side with the foreigners over the interests of regular Americans that will be hurt by this is why many have concerns about the loyalty to those that support the so-called 'MAGA' movement.

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            1. Sharlee01 profile image84
              Sharlee01posted 2 years agoin reply to this

              "I never sided with a foreign nation over the United States." I was in no way siding with any foreign country. Only sharing I believe OPEC has Bidein in a corner. This is how I see it.

              "You did not complain about violating the human rights of children when they were separated from their families? "

              Actually, I did complain not only about Trump using Obama's cages But in the past few days, it's been reported the Biden administration is also guilty of    EXCLUSIVE Dozens of migrant children reported missing in Houston, raising alarms
              https://www.reuters.com/world/exclusive … 022-09-02/

              I will admit I have never respected Biden crunching Trump's policies in regard to energy or the border.

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              1. Valeant profile image76
                Valeantposted 2 years agoin reply to this

                To me, it appears as if you are cheering on a foreign entity that is causing financial distress to every day Americans because it hurts your political opposition.  In terms of patriotism, it's just not a place I would go.

                Nice deflection away from the specific policy of separating children from families crossing the border.  But it's nice to see how quickly you changed your tune of not having any complaints, even if it was just in regards to the humane treatment of unaccompanied children.

                And I have always had issues with people ignoring the policy changes that removed us from energy independence months before Biden was elected, then blaming him for there being a change.  Or how many can only remember the first three years of the Trump term, and mostly block out his final disastrous year.

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                1. Sharlee01 profile image84
                  Sharlee01posted 2 years agoin reply to this

                  "To me, it appears as if you are cheering on a foreign entity that is causing financial distress to every day Americans because it hurts your political opposition.  In terms of patriotism, it's just not a place I would go."

                  No not cheering on just offering my view of why OPEC is cutting oil production. I think they are putting it to Biden. I think he deserves it. I certainly don't feel Americans should need to pay for his mistakes.

                  You do know there is a brewing story about one of the facilities that are over following with unaccompanied children?
                  https://statesidealternatives.com/news/ … -watchdog/

                  Biden has troubles of his own with migrant children. We have 250,000 to deal with and care for since Biden came into office.

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  3. Fayetteville Faye profile image61
    Fayetteville Fayeposted 2 years ago

    again, it's not as simple as just blaming it on President Biden. Ultimately we need to get out from under the thumb of OPEC.  Another issue is that China is not still fully open and they are a major consumer of oil. Reports are looking positive though that they will be fully open soon and will affect the amount of oil being pumped.
    The lockdowns have a direct and significant effect on China’s economic growth, which in turn effects its demand for oil, and the lockdowns are a direct function of the country’s ‘zero-Covid’ policy. They are the  largest annual gross crude oil importer in the world. 
    The oil market right now is really characterized by uncertain demand.

    https://oilprice.com/Energy/Crude-Oil/C … rkets.html

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    1. wilderness profile image94
      wildernessposted 2 years agoin reply to this

      "Ultimately we need to get out from under the thumb of OPEC."

      Just a few years we were a net exporter.  Now we are the second biggest importer.  Wonder how/why that happened?

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      1. Fayetteville Faye profile image61
        Fayetteville Fayeposted 2 years agoin reply to this

        Covid happened

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        1. wilderness profile image94
          wildernessposted 2 years agoin reply to this

          Yes.  The virus prohibited drilling, shut down exploration and built walls between people and their jobs.

          No, our response to Covid happened, in all it's excesses.  Along with, of course, a major change in American considerations as to global warming and the evils of oil production/use.

          (I do, however, question whether we are the second biggest net importer.  I wonder if your link considered that when it made the statement.)

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      2. Sharlee01 profile image84
        Sharlee01posted 2 years agoin reply to this

        OPEC announced today they will cut production by not what was predicted by 1 million barrels per day but 2. They are out to help me get Biden and his band of merry "people out of Government.

        Today I am loving OPEC!

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  4. Sharlee01 profile image84
    Sharlee01posted 2 years ago

    Biden admin weighs complete block on offshore oil drilling as gas prices keep rising
    Offshore drilling is 'essential' to American energy security, an industry official said Thursday

    The Biden administration is nearing a decision on the future of federal offshore fossil fuel drilling and hasn't ruled out a complete block on new leases.

    On Thursday, the 90-day comment period for the Department of the Interior's (DOI) proposed five-year offshore leasing plan ended, paving the way for the agency to issue a final decision. In July, the DOI unveiled the plan which gutted a Trump administration proposal, ruling out any leasing in the Atlantic or Pacific and opening the door to an unprecedented scenario where no lease sales would be held through 2028.

    "The ability of U.S. producers to provide more oil and natural gas supplies to the world market has also changed geopolitical dynamics for the better, resulting in greater energy security for the U.S. and its allies, in addition to global environmental benefits," Cole Ramsey, the vice president of upstream policy at the American Petroleum Institute (API), said Thursday.

    "Given the current global circumstances, rarely has a strong offshore leasing program been more essential to our energy security."

    The API submitted comments earlier in the day, urging the administration to open federal waters up for "safe and environmentally responsible" drilling. In the comments, the group expressed concern with the DOI's zero-lease scenario, saying it would jeopardize domestic energy production and weaken energy security.

    "Every previous administration, whether Republican or Democrat, has recognized the strategic advantages of U.S. offshore domestic energy and fulfilled their statutory obligation to maintain an offshore leasing program and continuously hold lease sales," Frank Macchiarola — API's senior vice president of policy, economics and regulatory affairs — told reporters on a call Thursday. "Yet, the Biden administration has failed to address current and future U.S. energy needs."

    "Announcing a program with zero new lease sales would be the exact wrong policy at the wrong time," he said.

    Officials from the Louisiana Mid-Continent Oil and Gas Association, U.S. Chamber of Commerce Global Energy Institute and the Consumer Energy Alliance were also present on the call.

    DEMS TURN TO HOSTILE DICTATORS FOR OIL PRODUCTION AS GAS PRICES TICK UP, GOP BLAME 'WAR ON AMERICAN ENERGY'

    Under the DOI's proposal, the federal government could choose to hold anywhere between 0-11 offshore lease sales, compared to the Trump administration's version which called for 47 such sales. Federal law mandates the interior secretary to issue offshore leasing plans every five years laying out prospective oil and gas lease sales.

    However, the administration dragged its feet on a replacement plan as it considered objections from environmental groups, which oppose all new fossil fuel leasing, and pressure from industry as gas prices surged. In her statement announcing the proposal on July 1, Interior Secretary Deb Haaland reaffirmed her and President Biden's "commitment to transition to a clean energy economy."

    On Thursday, industry leaders pointed again to energy prices which have moved upward again in recent weeks. The average price of gasoline nationwide increased to $3.87 a gallon on Thursday, according to AAA data.

    "The benefits of the U.S. offshore are felt far beyond the Gulf Coast. Finalization of a robust national leasing program is fundamental to secure these benefits for the next generation," National Ocean Industries Association (NOIA) President Erik Milito told FOX Business in a statement. "Energy prices remain stubbornly high, the global economic outlook is uncertain, and our allies need an alternative to higher-emitting Russian-produced energy."

    "U.S. offshore leasing provides vast benefits for Americans of all walks of life," he added. "There is a diversity of individuals, businesses, civic groups, elected officials, and organizations submitting comments in favor of a strong domestic production. That is a testament to how the U.S. offshore, and the Gulf of Mexico in particular, shines as an economic and energy wellspring with low carbon emissions."

    NOIA, which represents offshore fossil fuel and renewable energy development interests, issued a report in March alongside the API projecting that domestic oil production would decrease, thousands of jobs would be lost and the nation's gross domestic product would decline if the DOI failed to issue a replacement five-year plan or moved forward without additional lease sales.

    "The sensible path forward is the finalization of a robust offshore leasing program by the U.S. Department of the Interior," Milito said.

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    1. Valeant profile image76
      Valeantposted 2 years agoin reply to this

      Straight from Fox to Hubpages.  Not even an hour old.

      https://www.foxbusiness.com/politics/bi … eep-rising

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      1. Sharlee01 profile image84
        Sharlee01posted 2 years agoin reply to this

        Yes, this is true, It would seem no one else is promoting this report. I have vetted it.  It has become very evident Fox covers all the news, and they are less biased in what they report. This is a very pertinent report, and we should be aware of what the White House may be considering.
         
        I first picked up the report on MSN and saw the article was from Fox Business.

        https://www.msn.com/en-us/money/markets … li=BBnb7Kz

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        1. Fayetteville Faye profile image61
          Fayetteville Fayeposted 2 years agoin reply to this

          It looks like President Biden has not made a decision yet? The following is referring to his plan put forth in July of this year..

          "Biden's proposed five-year program was the next step in a process begun by the Trump administration, which had initially considered opening areas off the Atlantic and Pacific coasts but faced enormous opposition from coastal states. Friday’s plan proposed offering leases in areas that already generate the vast majority of offshore oil production, but the department included a range of options to consider in the final plan after an extensive comment period, including not opening any areas to leasing. Areas off the Atlantic or Pacific coasts would remain off-limits in all the options."

          https://www.nytimes.com/2022/07/01/clim … laska.html

          https://www.texastribune.org/2022/07/02 … asing-oil/

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          1. Sharlee01 profile image84
            Sharlee01posted 2 years agoin reply to this

            I will await Biden's decision. I feel he will, he will block the future of federal offshore fossil fuel drilling. He is predictable.

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            1. Fayetteville Faye profile image61
              Fayetteville Fayeposted 2 years agoin reply to this

              My money is on him allowing new lease sales in  the Gulf of Mexico and in Cook Inlet in Alaska. These two places have existing infrastructure and production.

              But I never realized that the five-year plan is required under the Outer Continental Shelf Lands Act. The current blueprint, finalized under President Barack Obama, expired in June. As President , Mr. Trump proposed opening virtually all United States waters to drilling, but that plan faced strong opposition from Florida Republicans concerned about the impact on tourism and it was never finalized.  I'm sure those areas will be off the table again.  It would be tough to see him barring  all new offshore leases.

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              1. Sharlee01 profile image84
                Sharlee01posted 2 years agoin reply to this

                'My money is on him allowing new lease sales in the Gulf of Mexico and in Cook Inlet in Alaska. These two places have existing infrastructure and production."

                But would that not really make his far left in Congress very mad? Too bad, he did not make them mad on day one. We may not be in the situation we are in with regard to energy.

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  5. Ken Burgess profile image72
    Ken Burgessposted 2 years ago

    This thread was supposed to be about the future prices of oil and gas.

    Sifting through some articles and videos, it appears as if it is most likely we will see gas prices triple, in the next 12 months.  After the election, of course.

    https://youtu.be/1SwggbQhCAs

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  6. Kathleen Cochran profile image77
    Kathleen Cochranposted 2 years ago

    So much text and only one source? FOX/Opinion.

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    1. Ken Burgess profile image72
      Ken Burgessposted 2 years agoin reply to this

      For the future cost of oil and gas?

      I will provide a couple more for you.

      https://www.latimes.com/california/stor … ecord-high

      https://www.shorenewsnetwork.com/2022/1 … -the-pump/

      https://www.wlwt.com/article/gas-prices … /41502468#

      Between the war with Russia, OPECs recent decision, and the Biden Administration's other regulations on refining and oil production, I am surprised the prices are as low as they are... despite the release of the National Reserves.

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    2. Sharlee01 profile image84
      Sharlee01posted 2 years agoin reply to this

      "FOX News Channel (FNC) is a 24-hour all-encompassing news service and has been the number one network in basic cable for the last six years and the most-watched television news channel for more than 20 consecutive years, currently attracting more than 50% of the cable news viewing audience according to Nielsen Media ...Aug 2, 202"
      https://press.foxnews.com/2022/08/fox-n … Channel%20(FNC)%20is,audience%20according%20to%20Nielsen%20Media

      "NEW YORK--(BUSINESS WIRE)--FOX News Channel (FNC) finished August 2022 as the third most-watched network in all of television during weekday primetime, outpacing ABC and trailing only CBS and NBC. According to Nielsen Media Research, Fox remained cable’s highest-rated network in total day and primetime with total viewers and the top rated in total day with the 25-54 demo. Fox News Channel surpassed CNN and MSNBC COMBINED with total day and primetime viewers and was number one in all of cable with total day and primetime viewers. FNC also ranked number one in cable news in primetime viewers for the 19th month in a row and notched 96 of the top 100 cable news telecasts for the month. Notably, FNC was the only cable news network to post double-digit gains versus last month and August marked its most-watched month of the summer with every program gaining viewers month-to-month. In total day, FNC delivered 1.5 million viewers, 211,000 with the 25-54 demo and 128,000 with the 18-49 demo. In primetime, FNC netted 2.3 million viewers, 311,000 in the 25-54 demo, and 189,000 with the 18-49 demo. The network also delivered the top four programs in cable news with viewers and the top 15 of the top 16 cable news programs in the 25-54 demo."
      https://www.businesswire.com/news/home/ … Television

      It would appear more do watch Fox, most likely due to that they report all of the news.

      In my view, the majority of Americans prefer getting all the news, not just what is carefully selected for them.

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      1. Fayetteville Faye profile image61
        Fayetteville Fayeposted 2 years agoin reply to this

        Fox, in some of its reporting, leaves out context, detail and nuances of a story that may detract from the right wing narrative.  Other outlets (left and right leaning) do the same.  I can take almost any reported story and find that there is so much more to it than the narrow piece they've decided to focus in on.  The media knows that many want news that is produced for their tribe.  Polarizing pieces that reaffirm either group that they are the righteous ones.  Even though all of these stories when they are told in their entirety paint a more moderate picture. Too many people don't want that, they want their narrative confirmed and that's it.

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  7. Sharlee01 profile image84
    Sharlee01posted 2 years ago

    https://www.foxnews.com/politics/nikki- … al-efforts
    "Don't be shocked when OPEC is not your friend and doesn't go and lift and raise production," Haley continued. "I mean, they did exactly what I think they wanted to do, which was stick it to Biden." Nikki  Haley

    "Former U.S. Ambassador to the United Nations Nikki Haley said Sunday that President Biden should not have been surprised that ministers from Organization of the Petroleum Exporting Countries (OPEC+) decided to cut oil production – in fact, she implied it could have been done just to spite him.

    After OPEC+, which is led by Saudi Arabia, announced last week that they would cut oil production by 2 million barrels a day in a move that is expected to raise oil prices globally. In response, President Biden said the move was "a disappointment" that "says there are problems" with Washington’s relationship with Riyadh.

    "I don't know why he's mad when you go and you call for the rest of the world to make Saudi Arabia an international pariah," Haley told "Sunday Morning Futures" host Maria Bartiromo, "when you go in, you fall all over yourself to get into the Iran deal, which upsets all of the Arab countries."

    Biden had spoken out against Saudi Arabia while he was campaigning for the presidency. Since taking office, his administration has been actively working to reenter an Iran nuclear deal that has been criticized as not doing enough to keep a nuclear weapon away from Iran, which is an adversary of Saudi Arabia and other Arab states.

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  8. Valeant profile image76
    Valeantposted 2 years ago

    Thanks for more of that Fox News propaganda.  This is what I mean by cheering on.

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    1. Sharlee01 profile image84
      Sharlee01posted 2 years agoin reply to this

      I think it is very obvious I have been using Fox more and more due to I find they report all the news. They don't pick and choose. Just a convenient way to check current news. I am in the great majority that chooses Fox News.

      And it is also obvious I am a Republican, and I prefer unbiased news, yes, I do cheer my party on, but I have no reason to. I appreciate the America Frist agenda.

      Why wouldn't I?  Do you feel Hailey's view is propaganda, she certainly offered why she felt as she does. I look at her view, as just her view.

      I do agree, I feel Biden has made enemies of OPEC. Not only with his words, but his policies. I mean do you think they are on board with  Biden's green agenda?  I mean would that not put a bit of a dent in their bottom line?

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      1. Valeant profile image76
        Valeantposted 2 years agoin reply to this

        Was this news?  I found it to be one far-right politician's opinion speaking to a television host. 

        And your claim that Fox News reports all the news is just not accurate.  That you don't recognize the bias in Fox News and all that they omit is not surprising.

        I have to ask - do you think man-made climate change is real?  If you don't, I could understand why you'd be rooting for OPEC over the US.  But if you did, not sure why you'd want to root against your own country trying to solve the problems that it is causing.

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        1. Sharlee01 profile image84
          Sharlee01posted 2 years agoin reply to this

          Yes, you are correct it was Nikki Haylye's view. I found it relative to the subject of my thread. After all, there are many expressing views of why gas prices are high. I align with he view.

          I feel they are not only quick to report current news but cover a lot more than CNN or MSN. Just my opinion.

          I surely feel climate changes have occurred. I in no way indicated I am rooting for OPEC, I just admit and realize the power of OPEC, and that they appear to have it in for Biden. I would imagine they are not fond of Biden he blasted them several times when he was campaigning for president. I think they are proud people, and most likely would not forget insults.

          "During his presidential campaign, Biden pledged that his administration would seek to make Saudi Arabia "the pariah that they are" and signaled that "they have to be held accountable."

          Biden has also said that Saudi Arabia's government has "very little social redeeming value," and that Saudi Arabia had murdered "children ... and innocent people" in Yemen."   https://www.newsweek.com/what-joe-biden … se-1715751

          I do think they are making him eat his words, all while making money on their much-needed oil. No, I am rooting for the US, and its recovery if we are able to get the Democrats out of power. If I pay more for gas for a bit to accomplish that, I will be glad to do just that,  for the good of America.

          OPEC owes the US nothing in my view. I thought Biden wanted to go Green. Maybe he better get on with it or maybe he should have thought a bit more about what problem could arise if he alienated OPEC.

          And maybe he should not have played the "Big Guy" with our own oil industry.

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    2. Ken Burgess profile image72
      Ken Burgessposted 2 years agoin reply to this

      Why do you consider facts propaganda?

      Biden has repeatedly insulted Saudi Arabian leadership and chose to work with their (and Israel's) biggest threat and enemy, Iran.

      In addition most of the non Western world blames America for the war in Ukraine, typical American warmongering, and they blame America for the Nord Stream sabotage.

      Why would they want to help Biden?

      Why would you think they will put his interests above their own?

      Our government hasn't gotten around to creating a electronic currency controlled directly by the Government just yet, they haven't instituted a government controlled Social Credit system just yet... Speaking the truth isn't a crime just yet.

      It's a bit too early still, to be calling facts propaganda... Don't worry Valeant that time is coming soon enough.

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      1. Valeant profile image76
        Valeantposted 2 years agoin reply to this

        Those claims are facts?  That it's 'working with' to try and limit Iran's nuclear capabilities diplomatically.  Odd since that move was backed by the Saudis.

        https://www.reuters.com/world/middle-ea … 022-07-15/

        As to your claims about the non-Western world and blame, again, those sound like opinions, not facts.  Let alone the Nord Stream sabotage being the fault of the United States.

        Plenty on the right want to excuse Putin and blame their own for his aggression.  I remember a time when criticizing your own country in a time of war was seen as treasonous.  While we are not at war, it's plainly clear which side of this war we are on.  Now, the same people that seem to vote for Trumpism have no issue siding with other countries that are not their own.

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        1. Ken Burgess profile image72
          Ken Burgessposted 2 years agoin reply to this

          I offer some opinions, related to facts, on Biden and Saudi Arabia:

          https://www.aei.org/op-eds/joe-bidens-s … -backfire/

          https://www.iranintl.com/en/202207164064

          Here are some links regarding the Nord Stream sabotage, as I said, non-western opinion tends to blame Biden:

          https://english.almayadeen.net/news/pol … ge-of-nord

          https://www.eurasiareview.com/16022022- … many-oped/

          I like the second one as it predicts the reasons for the sabotage.  The point was that non-western countries blame America for the sabotage, not that I agree with that belief or not.

          I love how when being presented with facts you don't like to face, or matters you don't want to address, it all come back to Trump for you.

          Problem is Trump isn't the one making war on Russia, he isn't the one pissing in Saudi Arabia's Cheerios while asking them to pump more oil, and he isn't the one declaring half of Americans to be threats to Democracy.

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          1. Valeant profile image76
            Valeantposted 2 years agoin reply to this

            Yes, you offered some opinions.  Where conclusions were reached using world events.  I would not call Mike Whitney's analysis fact.  I would call it opinion, especially when it argues that Washington was against Nord Stream, despite waiving the sanctions to allow it to be completed just seven months earlier.  That you extrapolate Whitney's (an American living in the state of Washington mind you) opinion to all non-Western countries is a reach.

            As to a return to Trump, only since his time have we seen Americans siding with Russia over their own country.  Noting when those in his base were convinced to side with a foreign country over their own is significant.  And no one declared half of Americans to be threats to Democracy.  The 'MAGA Republicans,' the ones that have fallen for Trump's lies, are only about 60% of the Republican Party.  The other 40% are smart enough to see those lies for what they are.

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            1. Ken Burgess profile image72
              Ken Burgessposted 2 years agoin reply to this

              Lets consider that.

              First lets parse this into two catagories

              1) the Russian Collusion farce where the likes of CNN told America that Trump was a Russian asset, operative and traitor to America.

              https://www.cnn.com/2019/02/19/politics … index.html

              https://www.foxnews.com/media/lawrence- … -operative

              2) The American backed, funded, supplied war against Russia in Ukraine.

              https://www.cato.org/commentary/washing … kraine-war

              A good brief overview if you want to begin to understand the depths of America's involvement in making this war become a reality, as well as our involvement fighting it. {Above} 

              https://www.whitehouse.gov/briefing-roo … r-ukraine/

              https://www.whitehouse.gov/briefing-roo … rtnership/

              https://www.stripes.com/theaters/europe … 43248.html

              And then of course, there are all the unofficial operations being carried out by Special Forces, Delta Force, and other operatives.  I suspect no less than a thousand of some of our most elite troops are involved in various missions in Ukraine, from direct engagement to training efforts.

              My Response to issue #1:

              I don't believe Trump was a Russian operative or traitor.
              If that is what you consider siding with Russia, so be it.

              My Response to issue #2:

              I believe Biden, Zelensky, and plenty of persons in the Pentagon and elsewhere wanted this war with Russia.

              I believe their actions were meant to force Russia into acting on its behalf.

              I believe this always was about bringing down Russia, and to hell with the risks of nuclear war or the ruination of Ukraine.

              I don't believe this war had to happen, but when Zelensky stated he was going to take Crimea, which had now been part of Russia for over 6 years and Biden said he supported Ukraine in doing so, war was declared.

              The Biden Administration and Zelensky all but insured this war occur, they didn't try to negotiate a peaceful resolution, they accused Russia, they blamed Russia, they villainized Russia... and they threatened Russia by stating they were going to take Crimea back by force... if my recognition of this reality, this fact, is siding with Russia in your eyes, so be it.

              I am going to state what I understand the facts to be, regardless of what propaganda is put out or what the government states.  I have had my fair share of experiences that schooled me too well on how our MSM and government works... especially when it comes to our injecting ourselves into foreign matters.

              Its not that I am siding with Russia. 

              Its that I know this could have been handled very differently.

              Its knowing that each day it continues brings us that much closer to nuclear weapons being used... then civilization, all the things you think are important, all the things you think Biden stands for and is pursuing won't matter.  It will be a very different world, one far more suited to people with my background than yours.

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              1. Valeant profile image76
                Valeantposted 2 years agoin reply to this

                1.)  You mean the Russia Collusion that was proven and sent Trump's Campaign Chair (Manafort) and Deputy Chair (Gates) to prison for failing to register as foreign agents for their roles in passing campaign polling data to known members of Russian Intelligence.  Considering how close they were to Trump, it seems more than appropriate to ask the question if Trump could have been a Russian asset.  What you call a farce was something actually proven - both by Mueller and by a bipartisan Senate Committee, that the campaign of a president for the United States did collude with Russian Intelligence to win the Presidency. 

                https://www.intelligence.senate.gov/sit … olume5.pdf

                So, yeah, not sure I would label something that clearly happened, that reached the top levels of a candidate's presidential campaign, a farce.

                What I consider siding is supportive of their efforts to interfere in our elections.  What I also consider supportive is siding with them when they claim they did not interfere, in direct conflict with your own country's intelligence services, which was done on the international stage in Helsinki.

                And yes, I think your siding with Russia for annexing a piece of another country and then being so offended by a public statement that the country wanted to take it back, as to declare war over it, is the fault of anyone but the attacking country is an opinion you may have.  But like I said, in a time of war, backing another country over your own has a word.

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                1. Ken Burgess profile image72
                  Ken Burgessposted 2 years agoin reply to this

                  Ah Manafort, he had quite the career in Ukraine and in politics long before getting involved (briefly) with the Trump campaign.  The report goes into this in some detail:


                  (U) Paul Manafort ......................................................................................................... 27
                  (U) Introduction and Findings ...................................................................................... 27
                  (U) Background on Manafort's Foreign Activities ....................................................... 32
                  (U) Manafort's Activities from 2014 until joining the Trump Campaign .................... 47
                  (U) Manafort' s Activities While Serving on the Trump Campaign ............................. 53
                  (U) Manafort' s Activities For the Remainder of the Campaign ...............

                  some additional information:

                  https://www.foxnews.com/opinion/andrew- … on-ukraine

                  What a tangled web

                  https://www.reuters.com/article/uk-usa- … FKBN1CZ27X

                  https://www.sanluisobispo.com/opinion/l … 65277.html

                  Here is the issue... this does not equate to Trump being a Russian operative or asset.

                  At worst, he used Manafort and his information (Russian ties) to try to win an election.  That may make him shrewd or dishonest or despicable... that doesn't make him a Russian operative.  It doesn't mean he was in cahoots with Putin.

                  Using underhanded political machinations doesn't make you a Russian puppet. 

                  And again... it is not Trump (your fixation with him is tiresome I must say, all dialogue with you leads back to Trump), that has us on the verge of nuclear war, maybe it is the fact that I am sane and don't want to see mushroom clouds popping up all over the world, that is the problem... most of America doesn't seem too concerned about that very real possibility.  We sure have changed from the early 60s and the Cuban Missile Crisis.

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                  1. Valeant profile image76
                    Valeantposted 2 years agoin reply to this

                    No need to quote the report I linked to me, I have read it extensively.  No it does not mean Trump is a Russian asset.  That was never proven.  But don't go making the claim that the collusion was a farce when it was proven in multiple ways to have existed and multiple Trump aides went to jail for it. 

                    And I'm sorry that we keep talking about the candidate that leads the Republican party and the hundreds of election-denying candidates he has endorsed in 2022.  I know you'd like to keep the focus on Biden.  Sorry that we both have the same tactic about exposing each other's party leaders for their weaknesses and flaws.

                    And I must say, the thing that is really tiresome is all the fearmongering.  The stock market is going to crash, we're going to be in a nuclear war.  I pity the people that live in such a fearful state of existence like that.  Their blood pressure must be through the roof.

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  9. Fayetteville Faye profile image61
    Fayetteville Fayeposted 2 years ago

    Sort of wondering why our own country isn't chipping into pump more oil.  Looks to be based on profit yet again.

    First, President Biden is not blocking the flow of American oil. In fact, he’s opened the tap more than Mr. Trump. The current administration issued more than 3,500 drilling permits in 2020 alone; that’s a third more than during Mr.  Trump’s first year. And under Biden, U.S. oil production has grown from 9.7 million barrels a day to 11.6 million.

    Yet oil and gas corporations are staying away from new drilling projects. Currently, 4,400 approved and drilled wells have yet to produce oil. Oil and gas executives show no sign of ramping up production.

    "Production of oil by U.S. energy companies is essentially flat and unlikely to increase substantially for at least another year or two. If Europe stops buying Russian oil and natural gas as some of its leaders have promised, they won’t be able to replace that energy with fuels from the U.S. anytime soon.

    The biggest reason oil production isn’t increasing is that American energy companies and Wall Street investors are not sure that prices will stay high long enough for them to make a profit from drilling lots of new wells.

    Executives at 141 oil companies surveyed by the Federal Reserve Bank of Dallas in mid-March offered several reasons why they weren’t pumping more oil. They said they were short of workers and sand, which is used to fracture shale fields to coax oil out of rock. But the most salient reason—the one offered by 60% of respondents—was that investors don’t want companies to produce a lot more oil, fearing that it will hasten the end of high oil prices."

    https://www.1012industryreport.com/supp … roduction/

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Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
ClickscoThis is a data management platform studying reader behavior (Privacy Policy)