Posts Made By: Rod Kaufman

Originally Posted by Mel Maki

This is not difficult. One of Biden's first moves should not have been stopping Keystone. The futures market watches his moves and he discouraged investment in fossil fuels. The progressives were happy so fossil fuels were not.

The keystone pipeline has nothing to do with it as do the rest of your comments. The entire planet is experiencing a global shortage due to supply and demand issues attendant with the pandemic. OPEC is in a position to do something about it but since they won't, America and China are leveraging their strengths together on this issue because the leadership of both countries understand, unlike you, that we live and work in a global economy... 

Originally Posted by Greg Shaffer

What a joke..... How about the fact that over the last 2 months FJB has allowed 12 million barrels of oil from our reserves to be exported to Asia with a high 2 weeks ago of 3.1 million barrels in a week? If the FJB Administration decides to tap U.S. emergency crude reserves to push down domestic energy prices, it may not help all that much. The supplies may just be exported away like last month. So while limiting U.S. production and watching the prices rise the FBJ admin has been selling off our reserves at an alarming rate.....Even the Democrat Congress is considering a ban on oil exports and releases of crude from the reserves to stem the bleeding.....

Lol! The oil export policy is that of the Trump administration. The Biden administration is considering limiting oil exports but that may actually increase the cost of oil by limiting global supplies. More right wing misinformation from Greg...

I see neither Greg or Mel are keeping up with current events:
"Oil selloff intensifies on Covid fears and risk of US-China intervention"
https://www.cnn.com/2021/11/19/business/gas-prices-oil-covid-china/index.html

Originally Posted by Greg Shaffer

Every now and then the ignorance of your statements is just mind boggling......You say a lot of dumb shit Rod but do you really mean to imply that FJB can limit production (which he started doing the instant he came into office) but cant change export policies with a straight face? LOL

I didn't state the policy can't be altered by Biden. I pointed out that Trump's policy on exporting oil is the same as Biden's and the reason it may not be curtailed is because it could further increase prices by limiting global oil supplies. 
Every now and then Greg's reading comprehension can surprise one but this instance isn't one of them...

Originally Posted by Greg Shaffer

Rod said "The oil export policy is that of the Trump administration." as if FJB had no choice while attempting to make excuses for FJB's terrible management.....Seems pretty clear to me and quite easy to interpret or were you having an "FJB" moment?

What I stated is accurate. I didn't state that the policy could not be changed. Biden has also kept in place the Trump tariffs on goods from China. That policy could be changed as well but has not. Seems pretty clear to me and quite easy to interpret...

"President Joe Biden on Tuesday announced the release of emergency oil reserves to combat high energy prices"
"This release will be in coordination with several other countries, including China, India, Japan, the Republic of Korea and the United Kingdom. Officials believe the coordinated effort could potentially have more of an effect on lowering gas prices."
"Energy Secretary Jennifer Granholm said at Tuesday's White House press briefing that gas and oil companies have financially "taken advantage" of the high prices.
"We have 250 fewer oil rigs that are functioning today than we did before the pandemic, and yet, the oil and gas industry has leases on 23 million acres of public lands on and offshore," Granholm said. "Over 9,500 permits have been issued that are not being used. At the same time, the energy industry is making enormous profits. They're back up to above where they were before the pandemic started. So, they have taken advantage of that moment."
https://www.cnn.com/2021/11/23/politics/biden-oil-reserves-gas-prices/index.html

Originally Posted by Mel Maki

Biden wants higher gas prices so it will be easier to argue for a transition. He doesn't want to pay the political price for those higher prices.  
He could raise the gas tax if he could convince people their other taxes would be cut enough to make up the difference. Or they could be convinced "Build Back Better" will increase their wages enough to make up the difference.

Show us where Biden says he wants higher gas taxes. That's something you think you've either heard or made up in your mind. The facts: "U.S. President Joe Biden raised the prospect of a gas tax hike during a meeting with lawmakers to point out it would not raise a lot of money and explain why he did not favor it as a way to pay for his infrastructure proposal, a White House official said on Monday after media reports."
https://www.reuters.com/world/us/bidens-gas-tax-comments-sought-explain-why-he-does-not-favor-hiking-it-official-2021-04-12/

Originally Posted by Greg Shaffer

Given we as a nation consume approx 18 million barrels a day, a one time release of 50 million barrels should have a huge impact right? LOL 

How FJB and the DOE can hold a straight face when bragging about it is a wonder indeed LOL

One of the goals of Bidens handlers is part of the New Green Deal they want desperately to implement.....drive fuel costs up to push people to alternate energy sources like wind, solar and electric cars despite the limitations of all three. 

Looks like the cons have another bout of reading comprehension issues; no surprises there... 
"This release will be in coordination with several other countries, including China, India, Japan, the Republic of Korea and the United Kingdom. Officials believe the coordinated effort could potentially have more of an effect on lowering gas prices."
The effort is directed at lowering the cost of a barrel of oil in the global market because as that price drops, so does the cost of gasoline. And the amount of release from the US oil reserve is the largest in the history of the US and that adds to and does not replace the amount of oil that's already being produced daily in the country.
Now do you freakin get it?!

"Of the 50 million barrels set to be released, 32 million will eventually be restored to the reserve supply, while the remaining 18 million represent an acceleration of a sale already authorized by Congress."
"Separately, Biden has also asked the Federal Trade Commission for an investigation into whether oil companies engaged in illegal collusion on prices."
https://thehill.com/policy/energy-environment/582892-will-bidens-release-of-oil-reserves-ease-prices-experts-say-maybe
"Former President Donald Trump insisted that the strategic reserve should only be accessed during “serious emergencies, like war, and nothing else.”
https://nypost.com/2021/11/23/biden-approves-release-of-50m-barrels-of-oil-amid-rising-gas-prices/
I guess critical global supply and demand issues don't factor into Trump's "decision-making" when he stated the above in an email shortly after the release...

Originally Posted by Rod Kaufman

"Of the 50 million barrels set to be released, 32 million will eventually be restored to the reserve supply, while the remaining 18 million represent an acceleration of a sale already authorized by Congress."
"Separately, Biden has also asked the Federal Trade Commission for an investigation into whether oil companies engaged in illegal collusion on prices."
https://thehill.com/policy/energy-environment/582892-will-bidens-release-of-oil-reserves-ease-prices-experts-say-maybe
"Former President Donald Trump insisted that the strategic reserve should only be accessed during “serious emergencies, like war, and nothing else.”
https://nypost.com/2021/11/23/biden-approves-release-of-50m-barrels-of-oil-amid-rising-gas-prices/
I guess critical global supply and demand issues don't factor into Trump's "decision-making" when he stated the above in an email shortly after the release...

Oh, and Trump is, of course, doing what he normally does: telling lies about it on Faux news:
https://www.cnn.com/2021/11/24/politics/fact-check-trump-gas-prices/index.html