Winners only.

[SlugButter]

1. What was the price leading up to Obama?
2. What sets the price of oil?

Supply and demand sets the price. Kinda. OPEC is not that simple. The supply can artificially manipulated to a certain extent. A lot of the manipulation is done through foreign entities but I have a strong suspicion that there is back room deals going on between our governments. It’s a conspiracy theory for sure, but there are thousands of high level career government employees and politicians who are getting rich from somewhere. People don’t own 3 multimillion dollar homes by being a public servant. It’s a solid theory.

 

[SlugButter]

This is why I repeat the fact that we know nothing. Unless you speak 8 languages and study the economies of every G8/G7 country, you don’t know shit. This is chess, not checkers.

 

[SlugButter]

Politicians and the rich don’t need to know these things. They can just pay for the services of numerous people who do. World economics is something that isn’t regulated much. Look at Hunter Biden’s money, it’s almost all made overseas.

 

[ThxOne Premium Member]

1. What was the price leading up to Obama?
2. What sets the price of oil?

Not really relevant as the past prices can't be undone and neither can the events.

 

[Bobbytwonames 5,000+ posts]

Not really relevant as the past prices can't be undone and neither can the events.

It's all relevant. The Republicans think that the President sets the gas prices for some reason. If that were the case then don't you think Biden would lower the gas prices to get his ratings up? Think about it.

 

[rmsanger_2]

Thank the christ we can finally end sexism and racism when we select a black women to the supreme court. The key criteria is a black female that will uphold rowe vs wade and voters rights protection act.

 

[Jesus Christ]

Choosing people based solely on race and gender instead of qualification/experience is a recipe for straight disaster.....Kamel toe Harris is a fine example

 

[RobGMN Premium Member]

Choosing people based solely on race and gender instead of qualification/experience is a recipe for straight disaster.....Kamel toe Harris is a fine example

This horse was beaten a while ago. A previous POTUS selected for SCOTUS an old white man whom the ABA said was wholly unqualified to be a judge, and pretty much no people of color for other benches.

Good for the goose, but not for the gander?

 

[RobGMN Premium Member]

Not really relevant as the past prices can't be undone and neither can the events.

Then, why’d you bring up past prices?

 

[ThxOne Premium Member]

It's all relevant. The Republicans think that the President sets the gas prices for some reason. If that were the case then don't you think Biden would lower the gas prices to get his ratings up? Think about it.

Obama and Biden both wanted higher oil prices. They both said that very thing. Oil prices are higher under both of these Presidents. Think about what? They are getting what they wanted.

 

[ThxOne Premium Member]

Then, why’d you bring up past prices?

For the same reason the current admin and all their followers bring up past administrations. To compare.

 

[RobGMN Premium Member]

Obama and Biden both wanted higher oil prices. They both said that very thing. Oil prices are higher under both of these Presidents. Think about what? They are getting what they wanted.

The true story:

In April, 2020:
“Major oil-producing nations agreed yesterday to cut output nearly 10 million barrels per day, starting in May and running into 2022. The deal effectively ends the price war between Saudi Arabia and Russia, which flooded the world with crude over the past month.

An unusually broad coalition came together on the deal, brokered by President Trump. Low oil prices have battered debt-laden U.S. energy companies, putting the president in the unfamiliar position of coordinating with the OPEC cartel instead of criticizing it. “This will save hundreds of thousands of energy jobs in the United States,” Mr. Trump tweeted.
As Bloomberg put it: Mr. Trump “became the first American president to push for higher oil prices in more than 30 years.”

 

[ThxOne Premium Member]

The true story:

In April, 2020:
“Major oil-producing nations agreed yesterday to cut output nearly 10 million barrels per day, starting in May and running into 2022. The deal effectively ends the price war between Saudi Arabia and Russia, which flooded the world with crude over the past month.

An unusually broad coalition came together on the deal, brokered by President Trump. Low oil prices have battered debt-laden U.S. energy companies, putting the president in the unfamiliar position of coordinating with the OPEC cartel instead of criticizing it. “This will save hundreds of thousands of energy jobs in the United States,” Mr. Trump tweeted.
As Bloomberg put it: Mr. Trump “became the first American president to push for higher oil prices in more than 30 years.”

That is their opinion.

 

[Firewalker]

I've posted a few times how the oil industry works in this country since I have access to information that most of you don't with family members and friends retired from it. But people ignore it.

Presidents can not control oil prices they can't control gasoline prices. Gas in your tanks was made months ago. Right now refineries are gearing up for shut downs starting in the month of Feb and some start in March for Spring Turn Around to fix or replace or upgrade parts. That happens twice a year, it can last up to 6 weeks depending on the maintenance needed and is a direct impact to pricing as well with output down in the US during those times.

Also that is when they switch over to making the "summer" blend of gasoline.

 

[RobGMN Premium Member]

That is their opinion.

No. He actually brokered the deal. It’s history, not an opinion.

“ On Thursday, Trump tweeted that he had spoken with the leaders of Saudi Arabia and Russia — whose price war combined with a sharp drop in demand due to the coronavirus pandemic to tank oil prices — and expected them to cut production, which "will be GREAT for the oil and gas industry!" Indeed, oil prices shot up after Trump's tweet and continued rising early Friday.”