Did Biden increase oil production?

[BuilderBob6]

We were told his energy policies were the reason for the increase in gas prices. So obviously he must have reversed course to have caused such a change? I must have missed something.

The realty is he shouldn't get credit for the decrease in price anymore than getting the blame.......nor does he control production.

Supplies have caught up since Covid........and demand is easing. Pretty basic stuff.

 

[TheGunner]

We were told his energy policies were the reason for the increase in gas prices. So obviously he must have reversed course to have caused such a change? I must have missed something.

The realty is he shouldn't get credit for the decrease in price anymore than getting the blame.......nor does he control production.

Supplies have caught up since Covid........and demand is easing. Pretty basic stuff.

You should discuss with your WH…


Hochstein credited Biden's decision to tap the Strategic Petroleum Reserve and engage U.S. alliesto pump more oil for the nearly 50 cents per gallon drop over the last 30 days.

"All the actions put together are having that impact," he said. "We want them to go further, but there’s no doubt that the actions we have taken are part of the reason these prices are coming down."

White House energy adviser defends taking credit for lower gas prices despite blaming Putin for hike | Fox News

Biden adviser says claim that gas prices were already rising prior to Putin's disruption is 'factually not true'

www.foxnews.com

 

[BuilderBob6]

You should discuss with your WH…


Hochstein credited Biden's decision to tap the Strategic Petroleum Reserve and engage U.S. alliesto pump more oil for the nearly 50 cents per gallon drop over the last 30 days.

"All the actions put together are having that impact," he said. "We want them to go further, but there’s no doubt that the actions we have taken are part of the reason these prices are coming down."

White House energy adviser defends taking credit for lower gas prices despite blaming Putin for hike | Fox News

Biden adviser says claim that gas prices were already rising prior to Putin's disruption is 'factually not true'

www.foxnews.com

I just said I don't think Biden gets any credit for the price reductions.

But it's my WH?

Duh.

I'm confused. Are you giving them credit for the lower prices....because that would jibe with you believing his policies were the reason prices went up? That would be YOU agreeing with the WH.

Or are you just taking whatever position that makes the admin look bad.....which includes you changing your mind to fit your politics?

 

[TheGunner]

I just said I don't think Biden gets any credit for the price reductions.

But it's my WH?

Duh.

I'm confused. Are you giving them credit for the lower prices....because that would jibe with you believing his policies were the reason prices went up? That would be YOU agreeing with the WH.

Or are you just taking whatever position that makes the admin look bad.....which includes you changing your mind to fit your politics?

🤷‍♂️

RE Taking whatever position makes the WH look bad. sounds like you are looping me in with your President, who does the opposite, which is blame Putin for the run up and take credit for bringing down the price.

I have argued for 6 month with you and others on this board that there were things that Biden could do, only to be told that prices were set by the market, but alas, here’s Biden saying there are things that the WH has done to lower the price.🤔

So yeah, I think Biden deserves some credit for bringing down the price (if he has released petroleum)…but I chuckle that his price charts start at the peak, instead of when he took office. I take solace in the fact that the WH figured out in April that gas prices are important, contrary to what the far left says.

So are you giving him credit even though you have said for the past six months there was “nothing he could do”?

 

[SIBoiler2]

Just eat more ice cream!!!

 

[BuilderBob6]

🤷‍♂️

RE Taking whatever position makes the WH look bad. sounds like you are looping me in with your President, who does the opposite, which is blame Putin for the run up and take credit for bringing down the price.

I have argued for 6 month with you and others on this board that there were things that Biden could do, only to be told that prices were set by the market, but alas, here’s Biden saying there are things that the WH has done to lower the price.🤔

So yeah, I think Biden deserves some credit for bringing down the price (if he has released petroleum)…but I chuckle that his price charts start at the peak, instead of when he took office. I take solace in the fact that the WH figured out in April that gas prices are important, contrary to what the far left says.

So are you giving him credit even though you have said for the past six months there was “nothing he could do”?

"The realty is he shouldn't get credit for the decrease in price"

"I just said I don't think Biden gets any credit for the price reductions."

What's the magic number of times I need to say it for you to understand my position?

 

[indyogb]

While the price of fuel is certainly more than just Presidential policy, Biden's policy since day 1 in office has been to reduce fossil fuel consumption (and, thus, sales). What the country needs is new refining capacity, but that will not happen, as a refinery is a very costly investment that no industry under threat by an entirely political party is going to make. The recent reduction could very well be partly from Biden's actions, but it is probably mostly from the global economic slow down tamping down the price of oil, due to expected decline in future demand.

The entire premise of this conversation is kind of curious, however, given the prices are still higher than they were last year at this time and much higher than they were when Biden took office (and higher yet, than when he was declared the election winner).

 

[purduepat1969]

We were told his energy policies were the reason for the increase in gas prices. So obviously he must have reversed course to have caused such a change? I must have missed something.

The realty is he shouldn't get credit for the decrease in price anymore than getting the blame.......nor does he control production.

Supplies have caught up since Covid........and demand is easing. Pretty basic stuff.

You're a special kind of ignorant. Supply/production of US gasoline is flat versus last year and down significantly from 2018 and 2019. Supplies have NOT caught up since COVID. Demand is easing because of prices at the pump. And prices have also been affected by another release from the strategic oil reserves.

The fact of the matter is that several refineries closed (that's what really matters). And oil companies aren't investing in refinery capacity when states like California have a ban on new gas/diesel powered motor vehicles by 2035. So yes, it's a simple supply and demand issue that normally wouldn't be impacted by politics. But because of progressive policies around climate change / fossil fuels, oil companies are not going to invest in refineries long term.

Supply/production in millions of barrels per month (Month of May):
2018 9,515
2019 9,497
2020 7,198
2021 9,137
2022 9,107

U.S. Product Supplied of Finished Motor Gasoline (Thousand Barrels per Day)

www.eia.gov

US refining capacity falls to lowest mark in 8 years amid record prices: EIA

The nation's capacity to refine crude oil into fuel and other products fell below 18 million b/d at the beginning of 2022 and hit its lowest level since 2014, according to the federal government's ann

www.spglobal.com

 

[BuilderBob6]

You're a special kind of ignorant. Supply/production of US gasoline is flat versus last year and down significantly from 2018 and 2019. Supplies have NOT caught up since COVID. Demand is easing because of prices at the pump. And prices have also been affected by another release from the strategic oil reserves.

The fact of the matter is that several refineries closed (that's what really matters). And oil companies aren't investing in refinery capacity when states like California have a ban on new gas/diesel powered motor vehicles by 2035. So yes, it's a simple supply and demand issue that normally wouldn't be impacted by politics. But because of progressive policies around climate change / fossil fuels, oil companies are not going to invest in refineries long term.

Supply/production in millions of barrels per month (Month of May):
2018 9,515
2019 9,497
2020 7,198
2021 9,137
2022 9,107

U.S. Product Supplied of Finished Motor Gasoline (Thousand Barrels per Day)

www.eia.gov

US refining capacity falls to lowest mark in 8 years amid record prices: EIA

The nation's capacity to refine crude oil into fuel and other products fell below 18 million b/d at the beginning of 2022 and hit its lowest level since 2014, according to the federal government's ann

www.spglobal.com

Of course production is down from '18/'19. Economy was great. No Covid.

Why it would be back those levels now? We are post Covid, but the economy/demand is not back to the precovid levels, why would oil production be? It's caught up to current demand, not caught up to previous levels of production.

Oil production is up this year over last year......and I'm talking about oil production......which all of you here were saying was cut as a result of Biden's policies. Gas production is a different thing.

Demand is down because of gas prices......and because the markets are worried about a recession.......and not just in this country.

The strategic reserve? You mean Biden's solution everybody laughed at? Now you're using it as a reason prices have come down. C'mon man.

You say progressive policies cause the refineries to shut down? Your OWN link says there are many other factors involved.

"Some refineries have closed in recent years -- or are slated for conversion -- due to hurricane damages, pandemic impacts, high operations costs, the inability to complete sales, weaker future demand forecasts, or from conversions to produce more renewable fuels. The other fear is that a major storm hitting the US Gulf Coast could dramatically impact fuel supplies in an already tight marketplace."

 

[Riveting-]

Of course production is down from '18/'19. Economy was great. No Covid.

Why it would be back those levels now? We are post Covid, but the economy/demand is not back to the precovid levels, why would oil production be? It's caught up to current demand, not caught up to previous levels of production.

Oil production is up this year over last year......and I'm talking about oil production......which all of you here were saying was cut as a result of Biden's policies. Gas production is a different thing.

Demand is down because of gas prices......and because the markets are worried about a recession.......and not just in this country.

The strategic reserve? You mean Biden's solution everybody laughed at? Now you're using it as a reason prices have come down. C'mon man.

You say progressive policies cause the refineries to shut down? Your OWN link says there are many other factors involved.

"Some refineries have closed in recent years -- or are slated for conversion -- due to hurricane damages, pandemic impacts, high operations costs, the inability to complete sales, weaker future demand forecasts, or from conversions to produce more renewable fuels. The other fear is that a major storm hitting the US Gulf Coast could dramatically impact fuel supplies in an already tight marketplace."

Are you saying Brandon was lying to kiddo during the campaign?

 

[SDBoiler1]

We were told his energy policies were the reason for the increase in gas prices. So obviously he must have reversed course to have caused such a change? I must have missed something.

The realty is he shouldn't get credit for the decrease in price anymore than getting the blame.......nor does he control production.

Supplies have caught up since Covid........and demand is easing. Pretty basic stuff.

Perhaps Biden’s policies are causing some demand destruction in the US. The global economy is slowing down as well.

Also, the Biden WH commentary about releasing the strategic petroleum reserves causing prices to come down is laughable when what they have released accounts for a couple of % of total demand in a month.

 

[purduepat1969]

Of course production is down from '18/'19. Economy was great. No Covid.

Why it would be back those levels now? We are post Covid, but the economy/demand is not back to the precovid levels, why would oil production be? It's caught up to current demand, not caught up to previous levels of production.

Oil production is up this year over last year......and I'm talking about oil production......which all of you here were saying was cut as a result of Biden's policies. Gas production is a different thing.

Demand is down because of gas prices......and because the markets are worried about a recession.......and not just in this country.

The strategic reserve? You mean Biden's solution everybody laughed at? Now you're using it as a reason prices have come down. C'mon man.

You say progressive policies cause the refineries to shut down? Your OWN link says there are many other factors involved.

"Some refineries have closed in recent years -- or are slated for conversion -- due to hurricane damages, pandemic impacts, high operations costs, the inability to complete sales, weaker future demand forecasts, or from conversions to produce more renewable fuels. The other fear is that a major storm hitting the US Gulf Coast could dramatically impact fuel supplies in an already tight marketplace."

Again, you're a special kind of ignorant who has no reading comprehension. The refineries shutting down was due to lower demand from COViD. I never said they shut down for any other reason. Not starting back up, however, is a different story. There is currently a lack of appetite for investment based on the progressive attacks on fossil fuels. And the electric vehicle infrastructure isn't anywhere close to being ready for large scale deployment.

As far as supply goes, you don't seem to understand that the refineries are pretty much at max capacity. So the US ain't refining much more gas. If demand weren't down from last year, prices would have remained high. It's that simple. And it's not going to get any better as the years go by until someone starts up a refinery. With the fossil fuel agenda from progressives, that's likely not going to happen. So as demand continues to grow as the economy grows, we're likely not going to see any price relief. Do you not get that?

And so now you agree demand is down due to prices? Which is what I said in my post.

 

[BuilderBob6]

Perhaps Biden’s policies are causing some demand destruction in the US. The global economy is slowing down as well.

Also, the Biden WH commentary about releasing the strategic petroleum reserves causing prices to come down is laughable when what they have released accounts for a couple of % of total demand in a month.

Oh I agree. The SPR effect is/was miniscule at best.

Biden said he has no control over oil production and gas prices and I think he's mostly right. But he can't then turn around and say his policies are bringing the prices down. Doesn't work that way.

 

[BoilerJS]

We were told his energy policies were the reason for the increase in gas prices. So obviously he must have reversed course to have caused such a change? I must have missed something.

The realty is he shouldn't get credit for the decrease in price anymore than getting the blame.......nor does he control production.

Supplies have caught up since Covid........and demand is easing. Pretty basic stuff.

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

These twenty-five Biden administration policies are affecting gas prices, home heating costs, and other energy-related burdens families face. Read more.

americansforprosperity.org

Lets talk when gas gets at least to $3 a gallon.
We can talk again in 3 years after the Democratic, Green Policy attack on the US economy POTUS candidate is destroyed by the Republican POTUS candidate and the US Is again energy independent!,