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Economics Discuss Fact check: Rising gas at the Political Forums; A lot of good info here. https://www.usatoday.com/story/news/...nd/5253346001/ read and comment if you wish....

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Old 11-13-2021, 11:44 AM
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Default Fact check: Rising gas

A lot of good info here.

https://www.usatoday.com/story/news/...nd/5253346001/

read and comment if you wish.
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Old 11-13-2021, 12:26 PM
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Default Re: Fact check: Rising gas

Lefty media circles wagon for Lefty administration...NOTHING is Biden's fault...The buck MUST stop elsewhere!!!...
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Old 11-13-2021, 12:50 PM
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Default Re: Fact check: Rising gas

Biden's role in higher gas prices

Quote:
On Oct. 13 The Palm Beach Post published a letter, "Blaming Biden is becoming a problem," where the writer said the gasoline prices were raised due to Hurricane Ida and no one should blame Biden. The writer is very uninformed. When Trump left office the U.S. was self-sufficient in producing oil. It was Biden who stopped fracking, offshore drilling and the construction of the pipeline needed for oil transport. This made us dependent on foreign oil. The Middle East wasted no time in raising prices as, forgive the pun, they had us over a barrel.
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Old 11-13-2021, 01:29 PM
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Default Re: Fact check: Rising gas

Quote:
Originally Posted by cnredd View Post
Read the article
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Old 11-13-2021, 04:09 PM
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Default Re: Fact check: Rising gas

Quote:
Originally Posted by saltwn View Post
Read the article
I stayed at a hotel last weekend that offered USAToday free to guests. I learned that it was just as fake a media source as the Washington Post and the New York Times. Why read an article that is known to be BS when the truth is that Biden's policies caused the problem? He started by closing the Keystone pipeline and just continued gutting our energy resources one by one. If you'd read something other than fake news sources you might learn something and become better informed.
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Old 11-13-2021, 06:59 PM
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Default Re: Fact check: Rising gas

but you can damn sure bet when bush was in office and gas prices went up it was 100% bush's fault and nothing else could have even played a role. because republicans evil and democrats angelic.
truth is fault typically lands on several factors and yes one of them is the policies of those in office - president and congress. of course there's the market; but don't for one minute think the market is unaffected by policy.
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Old 11-13-2021, 11:10 PM
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Default Re: Fact check: Rising gas

Ahhh...The good 'ol days....Let's turn the wayback machine to may, 2018...

Who’s to Blame for Higher Gas Prices?

Quote:
With gasoline prices rising, Sen. Chuck Schumer placed the blame on President Donald Trump, and specifically his decision to pull out of the Iran nuclear deal. But experts say that decision has had only a modest effect so far on rising prices at the pump.

Schumer complained about the rising prices of gasoline at a May 23 press conference at an Exxon station in Washington, D.C., where a sign showed regular gas selling for $3.89 a gallon (the national average on May 21 was $2.92). The Democratic Senate leader blamed Trump for not doing more to encourage leaders in oil-rich countries and domestic oil executives to lower prices. He also blamed Trump’s policies — specifically his decision to back out of the Iran deal — for helping to drive up prices at the pump.

“According to energy analysts and experts, President Trump’s reckless decision to pull out of the Iran deal has led to higher oil prices,” Schumer said. “These higher oil prices are translating directly to soaring gas prices, something we know disproportionately hurts middle- and lower-income people, since a larger chunk of their disposable income goes for gasoline.”

Schumer pointed to one analysis, from Goldman Sachs, that concluded higher oil prices were canceling the consumption benefits of the Trump-led tax cuts passed earlier this year.
The CURRENT national average of a gallon of gas is $3.41....Quite ironic that the Jewish Schumer is as quiet as a churchmouse...
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Old 11-14-2021, 01:47 PM
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Default Re: Fact check: Rising gas

Quote:
Originally Posted by saltwn View Post
Read the article
Not everyone slavishly follows the propaganda teaching Kim Jung Biden can do no wrong and has no responsibility. Some of us can think for ourselves and don't have to resort to simplistic instructions like "read the article".

Here is the danger in just commanding everyone to read an article you don't understand. Even if we go along with the ridiculousness of Biden being not responsible for dealing with the aftermath of the pandemic he promised to control, that still doesn't excuse his pathetic solution of groveling before OPEC authoritarian regimes as his only immediate solution. Not only have we suffered more Covid-19 deaths this year than 2020 gas prices and the cost of everything else are riding a tsunami of inflation.
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Old 11-14-2021, 08:27 PM
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Default Re: Fact check: Rising gas

Quote:
Originally Posted by Lumara View Post
I stayed at a hotel last weekend that offered USAToday free to guests. I learned that it was just as fake a media source as the Washington Post and the New York Times. Why read an article that is known to be BS when the truth is that Biden's policies caused the problem? He started by closing the Keystone pipeline and just continued gutting our energy resources one by one. If you'd read something other than fake news sources you might learn something and become better informed.
My dad died in a rig explosion in the early 70s. I don't know if you knew that, but him and his brother-n-law (and bnl's 2 brothers) used to captain fishing/shrimp boats till they went to work for various oil companies and auxiliary companies. My cousin was an executive secretary for an oil company during the Alaska spill and for years before and after till she retired.
That's just some background. i know where that keystone oil was going to go and while it did create jobs along the way for pipeline workers, it is not "our oil". For one thing it was a Canadian company and even if it was based in the US, it doesn't benefit us any more than all the other consumer companies on the planet.
That said, the keystone on switch or off didn't have time to affect gas prices presently. What did was the global pandemic. WHether you believe it is real or not, how other countries and the US manage it affects consumer goods. Meat prices can be explained easily too. Remember all those workers at packing plants who got sick? There was an overload of live cows. So the sale barn price went down and the meat companies are now trying to keep up with demand as people go back to work in the states.
Gas price is not regulated by any president or congress except taxes. They are trying to recoup and at the same time maybe some of their shortage story is true. I doubt it but it would be the ssame all over the planet. What I wish we would do instead of giving Exxon etc tax breaks and grants, is to get a deal where yes America gets a cut price and/or certain guaranteed volume for allowing tjem to extract from American soil. I d0n't know if that would be possible but it would be fairer imho if we're not going to expand renewables. the logcal move like 50 years ago was to move toward renewables but logic doesn't play in life sometimes.
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Old 11-15-2021, 09:28 AM
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Default Re: Fact check: Rising gas

Quote:
Originally Posted by saltwn View Post
My dad died in a rig explosion in the early 70s. I don't know if you knew that, but him and his brother-n-law (and bnl's 2 brothers) used to captain fishing/shrimp boats till they went to work for various oil companies and auxiliary companies. My cousin was an executive secretary for an oil company during the Alaska spill and for years before and after till she retired.
That's just some background. i know where that keystone oil was going to go and while it did create jobs along the way for pipeline workers, it is not "our oil". For one thing it was a Canadian company and even if it was based in the US, it doesn't benefit us any more than all the other consumer companies on the planet.
That said, the keystone on switch or off didn't have time to affect gas prices presently. What did was the global pandemic. WHether you believe it is real or not, how other countries and the US manage it affects consumer goods. Meat prices can be explained easily too. Remember all those workers at packing plants who got sick? There was an overload of live cows. So the sale barn price went down and the meat companies are now trying to keep up with demand as people go back to work in the states.
Gas price is not regulated by any president or congress except taxes. They are trying to recoup and at the same time maybe some of their shortage story is true. I doubt it but it would be the ssame all over the planet. What I wish we would do instead of giving Exxon etc tax breaks and grants, is to get a deal where yes America gets a cut price and/or certain guaranteed volume for allowing tjem to extract from American soil. I d0n't know if that would be possible but it would be fairer imho if we're not going to expand renewables. the logcal move like 50 years ago was to move toward renewables but logic doesn't play in life sometimes.
Oil prices are determined by futures contracts. The projected conditions, availability and supply of oil along with demand determine the price. When Kim Jung Biden arbitrarily canceled the Keystone XL pipeline it reduced the projected availability of oil in the future driving prices higher. Moreover Keystone XL oil was going to be processed into distillates for export. Biden loves to virtue signal pretending he is all in favor of US manufacturing but canceling the Keystone XL pipeline shows his hypocrisy.
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