Biden has your back with gasoline prices

[Valletta]

Biden said members of his team were to meet this week with CEOs of the major oil companies to discuss rising prices. Biden lashed out at oil companies, saying they are making excessive profits when people are feeling the crunch of skyrocketing costs at the pump and inflation. But Biden said he would not be meeting the oil executives himself.

“I want an explanation for why they aren’t refining more oil,” Biden said.

Biden says decision on gas tax holiday may come this week
The refineries can only refine what oil they can get, Joe's cancelation of the Keystone XL stopped the future 830,000 barrels of oil expected by just that one pipeline.
Joe's solution does nothing to address the overall problem, it simply re-distributes taxpayer's own dollars--if you use a lot of gas during a holiday you come out ahead of those who don't. And it loses productivity, federal employees waste labor in reducing the tax and then reinstating the tax. It is Joe's implementation of the radical left policy to take on the U.S. fossil fuel industry that is much responsible for the overall inflation and the suffering of the poor and middle class.

 

[Bradskii]

When I saw the thread title I was going to wonder how many posts it would take before the XL pipeline was mentioned. A pipeline that has zero effect on gas prices.

And whaddya know? There it was in the second sentence! Short of putting the name in the title of a thread, this will take some beating.

 

[CRAZY_CAT_WOMAN]

When I saw the thread title I was going to wonder how many posts it would take before the XL pipeline was mentioned. A pipeline that has zero effect on gas prices.

And whaddya know? There it was in the second sentence! Short of putting the name in the title of a thread, this will take some beating.

Yes, that gas end somewhere else. Why is our gas going everywhere , but in America?

 

[ValeriyK2022]

The future belongs to electric vehicles. The future belongs to alternative energy sources. Oil and gas don't last forever.

To give to the poor, you must take from the rich. The rich must understand why they need it.

If rich Christians, they do it for the sake of the commandments of Jesus Christ.

If they do not believe in Jesus Christ, then they will agree to give something only when they can then receive more. They investing now and make a profit tomorrow.

In Europe, they began to be massively interested in electric vehicles. This is a long process. But it will lead to a decrease in demand for oil tomorrow. Oil prices will fall and traders' profits will fall.To prevent this from happening, it is more profitable for sellers to lower prices now. In order not to lose profits tomorrow.

 

[Nithavela]

Yes, that gas end somewhere else. Why is our gas going everywhere , but in America?

That pipeline was for canadian gas.

 

[Valletta]

When I saw the thread title I was going to wonder how many posts it would take before the XL pipeline was mentioned. A pipeline that has zero effect on gas prices.

And whaddya know? There it was in the second sentence! Short of putting the name in the title of a thread, this will take some beating.

Once the XL pipeline was put in operation it would have added to the world supply, thus lowering prices. So would allowing oil to be drilled in Alaska and the Gulf of Mexico. So would adding oil refineries-- 11 have closed down for crude oil refinement within the last two years. Jen Psaki explained it below "Less supply raises prices." And know, providing leases to oil companies doesn't mean more oil is produced UNLESS you grant permits: Here is how Jen Psaki explained the situation:

"And I know you’ve heard me say this a few times before, but we don’t have a strategic interest in reducing the global supply of energy. And that would raise prices at the gas pump for the American people, around the world, because it would reduce the supply available. And it’s as simple as: Less supply raises prices. And that is certainly a big factor for the President in this — at this moment."
Press Briefing by Press Secretary Jen Psaki, March 3rd, 2022 | The White House

 

[Bradskii]

Once the XL pipeline was put in operation it would have added to the world supply, thus lowering prices. So would allowing oil to be drilled in Alaska and the Gulf of Mexico. So would adding oil refineries-- 11 have closed down for crude oil refinement within the last two years. Jen Psaki explained it below "Less supply raises prices." And know, providing leases to oil companies doesn't mean more oil is produced UNLESS you grant permits: Here is how Jen Psaki explained the situation:

"And I know you’ve heard me say this a few times before, but we don’t have a strategic interest in reducing the global supply of energy. And that would raise prices at the gas pump for the American people, around the world, because it would reduce the supply available. And it’s as simple as: Less supply raises prices. And that is certainly a big factor for the President in this — at this moment."
Press Briefing by Press Secretary Jen Psaki, March 3rd, 2022 | The White House

Yet AGAIN, the pipeline didn't and hasn't had any affect on gas prices. Building a pipeline doesn't mean there's more oil. It just makes it cheaper for the Canadian company to ship it.

And refineries have shut. Here's a list: Factbox: Which U.S. refineries have shut since the global pandemic, and why?.

And here's a few reasons why:

LYONDELL: They simply didn't want to investy any profits in keeping it open.
PHILLIPS 66: Damaged during Hurricane Ada and they don't want to spend money repairing it.
LIMETREE BAY: It's been closed for ten years...now officially shut.
SHELL CONVENT: To put simply, Shell isn't making enough money running it.
MARATHON: Again, they don't want to spend money keeping it open.

There are others, but they are small potatoes. So zero reasons other than a fixation on the bottom line. And did you say 'adding refineries'? Surely not...Yep, you did. Do you know how much a refinery would cost to build? Do you know how long it would take to build it? Do you think an oil company would start building them now to bring on line in maybe 7 years? Do you think that will help drop gas prices anytime soon? Seriously?

What they could do is keep the existing ones operational and start to crank up production. But profit rules. They are shedding refineries because keeping them open eats into the profits they are making.

And there are more leases than anyone would want. Not including Alaska and the Gulf. So drill where you can. And permits to drill are granted when you actually want to start drilling. When you make an application so to do. And the companies are NOT doing that. Because...and how many times does this have to be said to sink in...it costs them money. It reduces their profit. And why is that?

Because of EXACTLY what Psaki was explaining. If the supply low and if the demand is high, then the price, and oil company profits, go up. So they don't want to supply more. That was what Psaki was telling you. You even highlighted that fact. But you highlighted something that you simply don't understand.

 

[Valletta]

Yet AGAIN, the pipeline didn't and hasn't had any affect on gas prices. Building a pipeline doesn't mean there's more oil. It just makes it cheaper for the Canadian company to ship it.

Oh the Canadian oil companies have plenty of oil, and I agree building the pipeline doesn't mean there's "more oil." But it does mean that they cannot transport as much oil, you can extract it or pump it but you have to be able to transport it away, the movement or transportation of oil being the bottleneck. Likewise if you refuse to build pipelines the cost of transportation, which gets added to the end product, goes up. So being more restrictive for pipeline projects, having the government, whether through delays or added fees for inspections or more and more added environmental changes, can make the costs go up so the projects get shut down. This is part of the radical left's attack on fossil fuels in this country. You will see the prices in eastern states go up because more pipelines won't be allowed.

And refineries have shut. Here's a list: Factbox: Which U.S. refineries have shut since the global pandemic, and why?. . .

There are others, but they are small potatoes. So zero reasons other than a fixation on the bottom line. And did you say 'adding refineries'? Surely not...Yep, you did. Do you know how much a refinery would cost to build? Do you know how long it would take to build it? Do you think an oil company would start building them now to bring on line in maybe 7 years? Do you think that will help drop gas prices anytime soon? Seriously?

A refinery shutting down is not small potatoes, and more and more may shut down for the same reasons in the future. For example, California can tax refineries and also give tax incentives, which they do for companies for switching from refining crude oil to instead refining more renewable products. Taxpayer money is used to subsidize these less efficient refineries for the end products, bringing on inflated costs.
And I know refineries can be extremely expensive to build, if you were the CEO of a company would you build a fossil fuel refinery when the president over and over has stated his goal is to eliminate fossil fuels, even if it costs hundreds of thousands of jobs? So I agree an oil company would be crazy under the Biden administration to start building new fossil fuel refineries.

 

[renniks]

Biden should be angry at his own policies. Not just the oil companies. They are just playing it safe because of what he has caused to happen.

 

[GoldenBoy89]

Biden should be angry at his own policies. Not just the oil companies. They are just playing it safe because of what he has caused to happen.

Did Biden’s policies affect the entire global oil market? Because gas prices are up all over the world, not just here in the US.

 

[Maria Billingsley]

Biden said members of his team were to meet this week with CEOs of the major oil companies to discuss rising prices. Biden lashed out at oil companies, saying they are making excessive profits when people are feeling the crunch of skyrocketing costs at the pump and inflation. But Biden said he would not be meeting the oil executives himself.

“I want an explanation for why they aren’t refining more oil,” Biden said.

Biden says decision on gas tax holiday may come this week
The refineries can only refine what oil they can get, Joe's cancelation of the Keystone XL stopped the future 830,000 barrels of oil expected by just that one pipeline.
Joe's solution does nothing to address the overall problem, it simply re-distributes taxpayer's own dollars--if you use a lot of gas during a holiday you come out ahead of those who don't. And it loses productivity, federal employees waste labor in reducing the tax and then reinstating the tax. It is Joe's implementation of the radical left policy to take on the U.S. fossil fuel industry that is much responsible for the overall inflation and the suffering of the poor and middle class.

Let's get some fact checking. This may help!
What Is the Keystone XL Pipeline?

 

[renniks]

Did Biden’s policies affect the entire global oil market? Because gas prices are up all over the world, not just here in the US.

They were already going up here before Russia invaded Ukraine, because of sleepy Joe's policies.

 

[GoldenBoy89]

They were already going up here before Russia invaded Ukraine, because of sleepy Joe's policies.

I didn’t say anything about the war in Ukraine. I’m asking how Biden’s domestic policies have impacted gas prices all over the world.

 

[JosephZ]

Once the XL pipeline was put in operation it would have added to the world supply, thus lowering prices.

Below is a quote from the Department of State's Record of Decision and National Interest Determination dated March 13, 2017 which President Trump used to justify approving permits for the construction of the Keystone XL Pipeline.

"Any impacts on prices for refined petroleum products would be minimal if the proposed project is approved... and is unlikely to have a meaningful effect on crude flows and domestic fuel prices. The price of those refined products in the United States continues to be set largely by global crude prices which are tied to global production and consumption rather than the availability of pipelines."

Keystone XL Pipeline - United States Department of State

 

[Valletta]

Below is a quote from the Department of State's Record of Decision and National Interest Determination dated March 13, 2017 which President Trump used to justify approving permits for the construction of the Keystone XL Pipeline.

"Any impacts on prices for refined petroleum products would be minimal if the proposed project is approved... and is unlikely to have a meaningful effect on crude flows and domestic fuel prices. The price of those refined products in the United States continues to be set largely by global crude prices which are tied to global production and consumption rather than the availability of pipelines."

Keystone XL Pipeline - United States Department of State

That was back in 2017, there was no crisis in Europe nor an announced attack against the U.S. fossil fuel industry by a president, such an attack would stop many new projects and probably stop the building of new U.S. oil refineries. I gave the XL has just one example, while it's not going to completely reverse the price of oil it is not an insignificant project. Let me put it in perspective. Here's an article from NBC news quoting president Biden on his release of oil from the strategic reserve:
Will releasing more oil onto the market bring down gas prices?

“There’s no firm answer,” Biden said Thursday. “It could come down the better part of, you know, anything from 10 cents to 35 cents a gallon. It’s unknown at this point.” Biden said he’s waiting to see whether U.S. allies contribute to the release. “My guess is it could be as high — somewhere between 30 million to 50 million barrels. And the higher the number, the more likely the prices to come down.”
Will tapping the Strategic Petroleum Reserve lead to lower gas prices?

Now the Keystone XL, at the predicted 830,000 barrels a day, would be able to reach that total in two months. It wouldn't just be one time, it would keep producing the one time release by Joe EVERY two months. So that one project, which people have been pleading with Joe to change course and restart, is not insignificant. The article does go on to say that Joe is probably too optimistic. What if Joe not only restarted the XL but pushed for permits to drill in the Gulf and Alaska? We could meet the crisis by supplying all of the E. U. needs with much more cleanly produced fossil fuels and SLOWLY transition away.

 

[renniks]

I didn’t say anything about the war in Ukraine. I’m asking how Biden’s domestic policies have impacted gas prices all over the world.

They affected gas prices in the US. And reducing the amount of oil produced here affects prices everywhere. Even rumors affect gas prices.

 

[CRAZY_CAT_WOMAN]

That pipeline was for canadian gas.

Yes, I'm confuse to why we didn't use the gas for ourselves. Instead of having go elsewhere and causing plenty of oil leaks.

 

[Nithavela]

Yes, I'm confuse to why we didn't use the gas for ourselves. Instead of having go elsewhere and causing plenty of oil leaks.

The canadian gas?

 

[CRAZY_CAT_WOMAN]

That pipeline was for canadian gas.

But it's on American land. Right? So gas wise it doesn't benefit the US . But Canada's paying us for oil, that coming from America. Right?. If not why? I have no issues by making money. The future plan should be electric cars and solar panels in America. Especially Sunny states .

 

[Nithavela]

But it's on American land. Right? So gas wise it doesn't benefit the US . But Canada's paying us for oil, that coming from America. Right?. If not why? I have no issues by making money. The future plan should be electric cars and solar panels in America. Especially Sunny states .

The Keystone pipeline would have transported oil produced in canada through the USA to US harbors, to be shipped to other nations.