Russian gas $3.181 (USD) per gallon, while in the US it was $5.038 per gallon

On 28 February 2022, Russian gas was (USD) $3.19 per gallon, while in the US it was $3.95 per gallon. On 6 June 2022, Russian gas was (USD) $3.181 per gallon, while in the US it was $5.038 per gallon. Out of everything wrong with this administration, this is the true indicator of how inept and/or corrupt they have become.



www.globalpetrolprices.com...

During the Obama administration, they came out and said they'd be looking for ways to make gasoline more expensive for U.S. citizens.

Obama found the perfect way to execute that strategy: wait until he's out of office, and with a little ventriloquism and jerking of strings on his meat puppet: VOILA! $5/gallon gasoline.

I'm very very eager to hear from the Biden Brigade on how this is all an organic, totally unplanned, unfolding of events.

(Kind of like the Russia/Ukraine conflict, the one involving that guy Biden called a 'soul-less killer' 5 minutes into his administration. That was his opening 'salvo' of diplomacy, if you will)

"Just remember....YOU WANTED THIS"

in the US it was $5.038 per gallon

It's just to me that is the leading indicator, oil and gas prices hit all sectors and demographics. If you have to drive for a living as I used to do, I don't how you afford that.

In Ontario we are hovering around $2/Litre. But my big question is why is DIESEL the same price?? When did that happen? It wasn’t long ago when it was half the price of gasoline.

originally posted by: SleeperHasAwakened
During the Obama administration, they came out and said they'd be looking for ways to make gasoline more expensive for U.S. citizens.

Obama found the perfect way to execute that strategy: wait until he's out of office, and with a little ventriloquism and jerking of strings on his meat puppet: VOILA! $5/gallon gasoline.

I'm very very eager to hear from the Biden Brigade on how this is all an organic, totally unplanned, unfolding of events.

(Kind of like the Russia/Ukraine conflict, the one involving that guy Biden called a 'soul-less killer' 5 minutes into his administration. That was his opening 'salvo' of diplomacy, if you will)

"Just remember....YOU WANTED THIS"

Without a doubt, it’s all part of their plan to destroy America.
After all, Joe can’t break his 50 year streak of doing nothing for the American people.

with sanctions against buying Russian oil on the open market,
logic would predict a glut for the producer, leading to lower prices

originally posted by: acackohfcc
with sanctions against buying Russian oil on the open market,
logic would predict a glut for the producer, leading to lower prices

Which also means that if the US ramped up it's own production it would increase supply and lead to lower prices. However, this administration doesn't want to do anything that increases production.

High gas prices are a feature, not a bug of left green policies.

originally posted by: Edumakated

originally posted by: acackohfcc
with sanctions against buying Russian oil on the open market,
logic would predict a glut for the producer, leading to lower prices

Which also means that if the US ramped up it's own production it would increase supply and lead to lower prices. However, this administration doesn't want to do anything that increases production.

High gas prices are a feature, not a bug of left green policies.

So it's not private companies (private companies that are currently enjoying their most profitable periods...ever actually) that's deciding not to increase production due to cost, but instead its the government's fault? How so?

originally posted by: AScrubWhoDied

originally posted by: Edumakated

originally posted by: acackohfcc
with sanctions against buying Russian oil on the open market,
logic would predict a glut for the producer, leading to lower prices

Which also means that if the US ramped up it's own production it would increase supply and lead to lower prices. However, this administration doesn't want to do anything that increases production.

High gas prices are a feature, not a bug of left green policies.

So it's not private companies (private companies that are currently enjoying their most profitable periods...ever actually) that's deciding not to increase production due to cost, but instead its the government's fault? How so?

The administration has been openly hostile to oil production. The companies don't want to hire, expand, and invest if at any point the administration could reduce the ROI on a whim.

Businesses like stability. This administration is not offering stability, but risk with continued regulation, executive orders, etc.

Gas started going up on Day 1 of Brandon's term. You cannot blame this on Putin. Companies saw the writing on the wall with cancelling Keystone, ANWR, leases, etc.

The US can produce so much more, but our government chooses not to, or that's my understanding? Is that true

thenationaldesk.com...

While U.S. oil production is cleaner than that of most other major energy producers, it may not be convincing enough to get some Democrats who prefer more green energy onboard.

Another hurdle domestic producers face is the type of oil they can produce.

The U.S. buys Russian oil in part because they produce a certain type of oil that is able to feed refineries in order to make fuel at top capacities.

originally posted by: Edumakated

originally posted by: AScrubWhoDied

originally posted by: Edumakated

originally posted by: acackohfcc
with sanctions against buying Russian oil on the open market,
logic would predict a glut for the producer, leading to lower prices

Which also means that if the US ramped up it's own production it would increase supply and lead to lower prices. However, this administration doesn't want to do anything that increases production.

High gas prices are a feature, not a bug of left green policies.

So it's not private companies (private companies that are currently enjoying their most profitable periods...ever actually) that's deciding not to increase production due to cost, but instead its the government's fault? How so?

The administration has been openly hostile to oil production. The companies don't want to hire, expand, and invest if at any point the administration could reduce the ROI on a whim.

Businesses like stability. This administration is not offering stability, but risk with continued regulation, executive orders, etc.

Gas started going up on Day 1 of Brandon's term. You cannot blame this on Putin. Companies saw the writing on the wall with cancelling Keystone, ANWR, leases, etc.

Those companies are currently enjoying their most profitable quarters ever, are they not? That doesnt add up.

So just to clarify, you are saying the oil companies are currently refusing to increase production not because it would cut into their bottom lines but instead because of something Biden might do, but hasn't done yet?

You think if a Republican magically appeared in office today, the oil companies would reduce their profits and increase production?

a reply to: putnam6

Decent article on the main root causes.

One of which I have mentioned on more than one occasion.

FWIW

www.forbes.com...

Now, with oil prices over $100/bbl, many are questioning why production hasn’t bounced all the way back. The Biden Administration has pointed fingers at the oil industry, stating they have stockpiled 9,000 permits they aren’t using. The oil industry says that the problem — in part — is hostile policies of the Biden Administration.

Setting politics aside, here is what we know. The part about the oil industry stockpiling permits — mostly ahead of President Biden taken office — is true. I have reported on this before. However, that doesn’t mean they are sitting on them.


Obtaining a permit is just one step in the chain that ultimately results in oil production. There are many other links in that chain, some of which are still problematic today. Further, they can’t just sit on the permits. There is generally a “use it or lose it” provision that requires them to give up a permit if they don’t develop the lease over a specified period.


Thus, we have oil production that can’t bounce back quickly because some has been shut in, and new production that can’t proceed as quickly due to manpower and material shortages (e.g., fracking sand). It’s not simply that oil companies are sitting on permits. They are working through them. The number of rigs drilling for oil and gas has risen by 60% over the past year. But it can take years for a permit to translate into oil production (if the location even yields oil).

edit on 13-6-2022 by putnam6 because: (no reason given)

originally posted by: AScrubWhoDied

originally posted by: Edumakated

originally posted by: AScrubWhoDied

originally posted by: Edumakated

originally posted by: acackohfcc
with sanctions against buying Russian oil on the open market,
logic would predict a glut for the producer, leading to lower prices

Which also means that if the US ramped up it's own production it would increase supply and lead to lower prices. However, this administration doesn't want to do anything that increases production.

High gas prices are a feature, not a bug of left green policies.

So it's not private companies (private companies that are currently enjoying their most profitable periods...ever actually) that's deciding not to increase production due to cost, but instead its the government's fault? How so?

The administration has been openly hostile to oil production. The companies don't want to hire, expand, and invest if at any point the administration could reduce the ROI on a whim.

Businesses like stability. This administration is not offering stability, but risk with continued regulation, executive orders, etc.

Gas started going up on Day 1 of Brandon's term. You cannot blame this on Putin. Companies saw the writing on the wall with cancelling Keystone, ANWR, leases, etc.

Those companies are currently enjoying their most profitable quarters ever, are they not? That doesnt add up.

So just to clarify, you are saying the oil companies are currently refusing to increase production not because it would cut into their bottom lines but instead because of something Biden might do, but hasn't done yet?

You think if a Republican magically appeared in office today, the oil companies would reduce their profits and increase production?

Businesses don't only look at what is happening today, but also tomorrow.

Let's simplify it for you. Let's say you own a steakhouse. You have the most popular steakhouse in town. You are making money and the restaurant is sold out every night. You'd like to expand your business. In order to do so, you'd need to hire a few new cooks, waiters, and maybe add to the size of the restaurant. This investment is not cheap. You will probably need a loan and it may take upwards of a year before you can reopen.

The problem is your restaurant is in a town run by rabid leftist vegans. The city council has proposed to outlaw all meat restaurants.

As the business owner, what do you do? Just enjoy your current business or do you go out and invest to grow the business knowing the city council is openly hostile to your restaurant and could potentially have you shut down before you recoup your investment?

originally posted by: putnam6
FWIW

www.forbes.com...

Now, with oil prices over $100/bbl, many are questioning why production hasn’t bounced all the way back. The Biden Administration has pointed fingers at the oil industry, stating they have stockpiled 9,000 permits they aren’t using. The oil industry says that the problem — in part — is hostile policies of the Biden Administration.

Setting politics aside, here is what we know. The part about the oil industry stockpiling permits — mostly ahead of President Biden taken office — is true. I have reported on this before. However, that doesn’t mean they are sitting on them.

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Obtaining a permit is just one step in the chain that ultimately results in oil production. There are many other links in that chain, some of which are still problematic today. Further, they can’t just sit on the permits. There is generally a “use it or lose it” provision that requires them to give up a permit if they don’t develop the lease over a specified period.


Thus, we have oil production that can’t bounce back quickly because some has been shut in, and new production that can’t proceed as quickly due to manpower and material shortages (e.g., fracking sand). It’s not simply that oil companies are sitting on permits. They are working through them. The number of rigs drilling for oil and gas has risen by 60% over the past year. But it can take years for a permit to translate into oil production (if the location even yields oil).

Which is exactly what I am saying... Investors don't want to get burned making long term investments when you have a political party that is openly hostile to the industry.

What's the price in the UK? The EU? Get some perspective here. Americans have such a narrow view of the world.

originally posted by: schuyler
What's the price in the UK? The EU? Get some perspective here. Americans have such a narrow view of the world.

I don't give two sh!ts what people pay in the UK or EU. Those are completely different countries geographically and have their own energy policy.

The US is a huge a country and people have to drive much further than anyone in the UK. The UK is barely the size of one or two states in the US for perspective.

So yeah, if you want to drive little crap box cars and pay $10/gallon for fuel, that may work living outside of London. That ain't going to fly here in the states.

originally posted by: AScrubWhoDied

originally posted by: Edumakated

originally posted by: acackohfcc
with sanctions against buying Russian oil on the open market,
logic would predict a glut for the producer, leading to lower prices

Which also means that if the US ramped up it's own production it would increase supply and lead to lower prices. However, this administration doesn't want to do anything that increases production.

High gas prices are a feature, not a bug of left green policies.

So it's not private companies (private companies that are currently enjoying their most profitable periods...ever actually) that's deciding not to increase production due to cost, but instead its the government's fault? How so?

You must not understand how the oil exploring and drilling process goes.

Did you think that all oil that's consumed springs up from the ground in a few established wells?

Google oil exploration, government oil leases, oil drilling.

The "it's the private companies' faults!" sounds like a boilerplate deflection from this administration to throw the easily duped off the trail of who is deciding how much oil gets put into the petro-dollar system.

originally posted by: cookadafood
In Ontario we are hovering around $2/Litre. But my big question is why is DIESEL the same price?? When did that happen? It wasn’t long ago when it was half the price of gasoline.

Same in the UK.

This whole thing reeks of NWO.