Could Biden Leaving White House Lower Gas Prices?

[Saucy]

One big contention regarding Biden's presidency has been the entirely way too high cost of gasoline. Those of us who remember the much lower gas price under Trump recognized almost an immediate jump as soon as Biden was handed the keys to the White House. This price increase has undoubtedly added to the cost of everything else, making inflation worse. But any time we make this connection and say we want Trump because gas was cheaper, we are told a president has no control over the price of gas and Biden had absolutely nothing to do with the increase. It was just a coincidence that the prices increased and have stayed high throughout his entire term.

However, according to this article from MarketWatch, gas prices could react if Harris assumes the White House and enacts a policy change. They also expect that if the Democrats win, the prices will remain high, but if Trump wins, the prices could lower.

It’s not yet known if Vice President Kamala Harris will be the Democratic nominee and if she is, what she might do differently from Biden, he said. There’s potential that gas prices could “eventually react” if Harris were to announce a policy change.

A win for Democrats in November would likely mean “a generally more prohibitive stance on oil,” which would “likely keep prices slightly higher,” De Haan said. A win by former President Donald Trump “would likely mean fewer restrictions to drilling, environmental regulation and a more pro-oil stance, which could help ease some price pressure.”

MSN

www.msn.com

Some of these articles seem contradictory. They do say the same thing: that Biden has no control over the market, but then there are lines like this hidden in them:

This was in part driven by the Biden administration's push for a greener U.S. economy, with many refineries "seeing the writing on the wall" about gas and either closing or repurposing their infrastructure, Cinquegrana said.

How gas prices have changed since Joe Biden took office

"Three things move the needle in this country: politics, religion, and gas prices," an expert told Newsweek, adding that gas prices will be an issue in 2024.

www.newsweek.com

So, it seems clear to me that Biden's policies have had a major effect on the cost of gas, and presidents in general can influence them with their agenda. Refineries closed down or changed their operating status simply because they believed Biden would enact green policies, which have only hurt our economy. Gas prices alone will be a major issue this election. What are your thoughts?

 

[durangodawood]

One big contention regarding Biden's presidency has been the entirely way too high cost of gasoline. ....

Americans are ridiculous with their massive vehicles. No one should be counting on cheap fossil fuels going forward.

 

[JustOneWay]

So, it seems clear to me that Biden's policies have had a major effect on the cost of gas, and presidents in general can influence them with their agenda. Refineries closed down or changed their operating status simply because they believed Biden would enact green policies, which have only hurt our economy. Gas prices alone will be a major issue this election. What are your thoughts?

President's have little control over gas prices.

Hint: Presidents have little control over gas prices—and neither do convenience retailers.

Actually, it’s not that they’re bad at it. It’s that they have very little control over it. Yes, policies and legislation can certainly play a role, but gas prices are largely dictated by oil prices, and oil prices are dependent upon supply and demand. Presidential control is not as simple as what those posts suggest on social media.

The low prices under Trump were due to Covid - supply and demand.

 

[frienden thalord]

President's have little control over gas prices.

Hint: Presidents have little control over gas prices—and neither do convenience retailers.

Actually, it’s not that they’re bad at it. It’s that they have very little control over it. Yes, policies and legislation can certainly play a role, but gas prices are largely dictated by oil prices, and oil prices are dependent upon supply and demand. Presidential control is not as simple as what those posts suggest on social media.

The low prices under Trump were due to Covid - supply and demand.

actually when it come to gas prices they are about the same . Folks quickly forget things .
However with that in mind never buy into the mainstream news and its agenda .
Now for more info on that you might have to ask in private cause both sides and all sides
gonna rush to forever silence my mouth .
One thing that is not tolerated by either side is truth that exposes the heart of man . Neither side
got any room or place for folks like me in this ever changing society . But i fear them not or the agenda .
THE LORD has me , come what may is what will come .

 

[Vambram]

The prices of a global commodity, such as oil, has much more complicated reasons than the average person's understanding of the economic principles of supply & demand.

 

[JustOneWay]

actually when it come to gas prices they are about the same . Folks quickly forget things .
However with that in mind never buy into the mainstream news and its agenda .
Now for more info on that you might have to ask in private cause both sides and all sides
gonna rush to forever silence my mouth .
One thing that is not tolerated by either side is truth that exposes the heart of man . Neither side
got any room or place for folks like me in this ever changing society . But i fear them not or the agenda .
THE LORD has me , come what may is what will come .

non sequitur

Please try to stick to the topic.

 

[frienden thalord]

non sequitur

Please try to stick to the topic.

actually the topic was about gas prices wasnt it . or at least you made mention of them .
I notice they seem to be around the same , up and down , up and down .

 

[JustOneWay]

The prices of a global commodity, such as oil, has much more complicated reasons than the average person's understanding of the economic principles of supply & demand.

But do you believe that gas prices will fall if Biden leaves office?

 

[frienden thalord]

But do you believe that gas prices will fall if Biden leaves office?

if they do it will be but a temporary one . Sie agenda will always be sie agenda no matter who be in office .
Please visualize what i say next , cause it might help us all to understand .
Visualize one entity
Then you have two main strings getting played by said entity
dem rep .
Now of course they sell the agenda in different ways unto both groups . BUT beleive you me ITS THE SAME agenda getting done
no matter who sits the throne .
Now visualize main compartments .
Education . media , politics and religoins .
All were INFILTRATED with the same agenda .
Again its sold in different ways to each one and even differently within each faith and each false religoin too .
BUT Again its the same agenda .
A love that can unite them all to serve a common goal . PS , we wont want to sit under that either .
But , what is cannot be stopped . just let us have no part in it .

 

[Hans Blaster]

President's have little control over gas prices.

Ironicaly, President Biden has done more successfully to control gas prices with his limited leverage than any other prior president.

 

[frienden thalord]

someone found a version of love that every religoin and even athiest can beleive in and follow .
to the religions it will come in the form its GOD and its his love to unify us to find common ground .
To atheist and etc it cometh as love etc .
BUT we sure as heck dont want to follow the daddy of that love . that one been in the garden and knows how to decieve .

 

[frienden thalord]

Ironicaly, President Biden has done more successfully to control gas prices with his limited leverage than any other prior president.

lets not get ahead of ourselves too quickly now my near and dear friend .
Just a real friendly reminder .

 

[frienden thalord]

This next statement is about me and is not meant to accuse or demean anyone here .
But if there were a treasure chest filled with gold rubies and prescious gems , billions of dollars worth of said items .
Then on the other side there was a ten man fireing squad .
And the choice was you can vote for a progressive inclusive liberal and get the chest
or refuse and get the firing squad
May my last words be , OH JUST FIRE STRAIGHT AND TRUE for i desire not to suffer long .
Just introducing my own personal thoughts . This is not to demean anyone who might vote for one .
Just letting you all know exactly where i stand on things . but hey , that is just me , folks may do as they please .

 

[iluvatar5150]

One big contention regarding Biden's presidency has been the entirely way too high cost of gasoline.

The "way too high cost" that, in nominal (i.e. non-inflation-adjusted) dollars, is right around where we were for several years in the middle of the Obama administration, 10-13 years ago?

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

Those of us who remember the much lower gas price under Trump recognized almost an immediate jump as soon as Biden was handed the keys to the White House.

"Almost" is right. The inflection point actually happened around the election, in Nov 2020, after which prices started to rebound. On that front, Biden got stuck with some bad timing. From the same link:

This price increase has undoubtedly added to the cost of everything else, making inflation worse. But any time we make this connection and say we want Trump because gas was cheaper, we are told a president has no control over the price of gas and Biden had absolutely nothing to do with the increase. It was just a coincidence that the prices increased and have stayed high throughout his entire term.

That's right.

However, according to this article from MarketWatch, gas prices could react if Harris assumes the White House and enacts a policy change. They also expect that if the Democrats win, the prices will remain high, but if Trump wins, the prices could lower.

MSN

www.msn.com

The people they interviewed in that article made it abundantly clear that any influence a president would have would likely be slight and would have a large lead time. It's silly to cred Trump for 30% lower prices and Biden for causing a spike upon stepping foot into the White House.

Some of these articles seem contradictory. They do say the same thing: that Biden has no control over the market, but then there are lines like this hidden in them:

How gas prices have changed since Joe Biden took office

"Three things move the needle in this country: politics, religion, and gas prices," an expert told Newsweek, adding that gas prices will be an issue in 2024.

www.newsweek.com

You're right, that line doesn't make any sense. Refinery capacity started declining in the spring of 2020, before Biden was even elected:

U. S. Operable Crude Oil Distillation Capacity (Thousand Barrels per Calendar Day)

It's possible that some of these refineries speculated about the future regulatory environment and opted to remain closed, but that strikes me as suspect and I'd need to see more evidence to accept it.

So, it seems clear to me that Biden's policies have had a major effect on the cost of gas, and presidents in general can influence them with their agenda. Refineries closed down or changed their operating status simply because they believed Biden would enact green policies, which have only hurt our economy. Gas prices alone will be a major issue this election. What are your thoughts?

I think you're 1.) misreading your articles to a degree and 2.) blaming Biden for some poor forecasting on the part of refinery owners.

 

[frienden thalord]

The prices of a global commodity, such as oil, has much more complicated reasons than the average person's understanding of the economic principles of supply & demand.

The effects of the digital system shall have a much more groaning effect on the peoples than most realize .
You no comply , you no buy . just a friendly reminder .

 

[Vambram]

But do you believe that gas prices will fall if Biden leaves office?

I don't predict that there will be any significant changes of gas prices until after January 21, 2025. I believe that Trump is president in late January, then it will not take more than a couple of months for Americans to see significant decreases in the price of gas at the fuel pumps.

 

[iluvatar5150]

I don't predict that there will be any significant changes of gas prices until after January 21, 2025. I believe that Trump is president in late January, then it will not take more than a couple of months for Americans to see significant decreases in the price of gas at the fuel pumps.

By what mechanism do you expect this to happen?

 

[JustOneWay]

I don't predict that there will be any significant changes of gas prices until after January 21, 2025. I believe that Trump is president in late January, then it will not take more than a couple of months for Americans to see significant decreases in the price of gas at the fuel pumps.

Gas prices have dropped every month for 2 years

Besides, presidents do not control the price of crude. I wish people would actually understand that.

I do not care about your prediction about Trump. Your dream about Trump lowering prices is pretty funny. This is exactly happened when Trump became president and inherited a rising economy. For the last 20 years, democratic presidents have come in to clean up republican messes, while the republicans came in inheriting economies on the rise. Trump would (if elected) inherit a trend and will again try to claim he did it. He can't be trusted to tell the truth. He is a fraud, and the courts proved it.

 

[Vambram]

Besides, presidents do not control the price of crude. I wish people would actually understand that.

The policies within Executive Actions or Executive Orders do indeed influence the cost of American Oil companies to drill for oil as well as the cost of turning that oil into fuel. I wish people would actually attempt to try to understand that.

 

[iluvatar5150]

The policies within Executive Actions or Executive Orders do indeed influence the cost of American Oil companies to drill for oil as well as the cost of turning that oil into fuel. I wish people would actually attempt to try to understand that.

Who doesn't understand that?