Biden Team On Gas Prices: We Give Up!

[Romanticlover]

Another stupid idea from a Democrat politician:
https://finance.yahoo.com/news/u-senate-finance-chair-propose-175609681.html

How is this going to bring the price down at the pump?

[HighStepper]

It worked when Trump was President because gas was $3.25 a gallon.

So you waant to give Trump credit because he was lucky.
Besides it wasn't Trump, it was the deep state, lol.

[HighStepper]

Another stupid idea from a Democrat politician:
https://finance.yahoo.com/news/u-senate-finance-chair-propose-175609681.html

How is this going to bring the price down at the pump?

It wont.

In the 1st quarter the 5 biggest oil companies have made record profits, $35 billion a 300% increase. This explains about a $1 a gallon at the pump.

The best they can do with this approach is to see that the oil companies invest those profits to increase supply However, that is not going to happen before the midterm elections

[Romanticlover]

The best they can do with this approach is to see that the oil companies invest those profits to increase supply However, that is not going to happen before the midterm elections

Then why bring it up now when you know it won't pass the Senate?

Every politician in Congress with a functioning brain and common sense knows if you tax the oil companies they will just pass the cost on to the consumers.

[HighStepper]

Why you ask, lol.

Politics is often about showmanship.
Show the constituents how hard you are working for them.
Going down in flames is better than doing nothing.

[Romanticlover]

The price of crude oil is coming down but so is the stock market, crypto has really taken a hit in the past week.
I'm not happy the stock market is down but I predicted it, we were due for a correction.

In 2008:
High gas prices
Stock market crashes
Housing sales crash

The same thing is happening now due to greedy speculators.

[dogwalker]

Very true and as in 2008 [and 2000 for tech stocks] things will eventually get back to a more desired situation but not overnight.  Could take a few years.....gulp!

[Blkfyre]

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Yup, Biden's policies are the cause of gas prices being so high...oh wait...

And if you are going to say that the prices were already that high, yeahhhhhh, no: https://money.cnn.com/pf/features/lists/global_gasprices/

Gas Prices 2021

Nation   City           Price in USD Regular/Gallon
United Kingdom   London   $5.79
Germany   Frankfurt   $5.57
France   Paris           $5.54
Portuga Lisbon           $5.35

[Hobby]

We are a major producer of oil, not a major importer.  Look at Saudi Arabia a major producer exporter $2.35 per gallon this is where we should be. 

You can't compare the US with countries that have to import their oil. 

[Blkfyre]

We are a major producer of oil, not a major importer.  Look at Saudi Arabia a major producer exporter $2.35 per gallon this is where we should be. 

You can't compare the US with countries that have to import their oil. 

https://www.investopedia.com/articles/company-insights/082316/worlds-top-10-oil-exporters.asp

United States
The United States is the third-largest oil exporter. It exported $52.3 billion worth of oil in 2020, comprising 8.17% of global exports.

Canada
Canada is the world's fourth-largest exporter of oil. The $47.2 billion worth of oil it exported in 2020 comprised 7.37% of the global total.

The United States is third, Canada is fourth and yet their prices are higher than ours. That is an accurate comparison for you...

[HighStepper]

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[Hobby]

US needs to ban oil exports as it did in 1975 and force oil companies to lower domestic prices.

[HighStepper]

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[Danno]

oil executives said last week that they want to save their oil here in the usa for a higher price in the future

US needs to ban oil exports as it did in 1975 and force oil companies to lower domestic prices.

[Bande]