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<blockquote data-quote="RobGMN" data-source="post: 8773325" data-attributes="member: 683408"><p>I mentioned them by name b/c they happen to not be allies. It makes for a better hypothetical than pitting friends against each other in a bidding war.</p><p></p><p>Considering you brought up Joe and federal drilling bans, it's interesting that drilling on public lands is actually UP. They say it's on pace to meet levels not seen since the Bush administration.</p><p>Or were you perhaps referring to Keystone? The Canadian pipeline that was stopped by the Supreme Court in June of 2020, when Trump was president? Yeah, that happened before Joe was in office. Hard to blame him unless he's a time-traveler.</p><p></p><p><em>"supply and demand which is now under others control because of Biden" </em>Supply and demand <strong>used</strong> to be under control of the POTUS, but that power was given away by Biden? So, who controlled it before he gave it away?</p><p>Claiming simple supply and demand is what sets prices disregards where it actually happens: commodities markets. Guess what? Those markets are driven by speculation. YOU could trade in those markets and become a factor in how prices move, as can anyone who is willing and able. It's not a rich man's game.</p><p></p><p>Then there's this: <em>"Probably the single biggest influencer of oil prices is OPEC, made up of 13 countries (Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, and Venezuela); collectively, OPEC controls 40% of the world's supply of oil"</em></p><p><em></em></p><p><em>"even though we produce the most crude we buy it from other places driving up the price per barrel for the U.S."</em></p><p>The US is the biggest producer at 17M barrels/day, yet we can only meet 40% of our own needs internally. That leaves us buying about 8 million barrels a day from other sources. I'll let you guess who those sources might be. The price from those sources is not controlled by Joe or any other US president. Does our demand drive external prices up? Of course it does. So if we want to stop that, we need to cut our demand to match our production capability. Reduce our usage by 60%. </p><p></p><p>People are bitching about price hikes that they are causing. 'Sounds like a criminal complaining about being jailed for committing a crime.</p></blockquote><p></p>
[QUOTE="RobGMN, post: 8773325, member: 683408"] I mentioned them by name b/c they happen to not be allies. It makes for a better hypothetical than pitting friends against each other in a bidding war. Considering you brought up Joe and federal drilling bans, it's interesting that drilling on public lands is actually UP. They say it's on pace to meet levels not seen since the Bush administration. Or were you perhaps referring to Keystone? The Canadian pipeline that was stopped by the Supreme Court in June of 2020, when Trump was president? Yeah, that happened before Joe was in office. Hard to blame him unless he's a time-traveler. [I]"supply and demand which is now under others control because of Biden" [/I]Supply and demand [B]used[/B] to be under control of the POTUS, but that power was given away by Biden? So, who controlled it before he gave it away? Claiming simple supply and demand is what sets prices disregards where it actually happens: commodities markets. Guess what? Those markets are driven by speculation. YOU could trade in those markets and become a factor in how prices move, as can anyone who is willing and able. It's not a rich man's game. Then there's this: [I]"Probably the single biggest influencer of oil prices is OPEC, made up of 13 countries (Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, and Venezuela); collectively, OPEC controls 40% of the world's supply of oil" "even though we produce the most crude we buy it from other places driving up the price per barrel for the U.S."[/I] The US is the biggest producer at 17M barrels/day, yet we can only meet 40% of our own needs internally. That leaves us buying about 8 million barrels a day from other sources. I'll let you guess who those sources might be. The price from those sources is not controlled by Joe or any other US president. Does our demand drive external prices up? Of course it does. So if we want to stop that, we need to cut our demand to match our production capability. Reduce our usage by 60%. People are bitching about price hikes that they are causing. 'Sounds like a criminal complaining about being jailed for committing a crime. [/QUOTE]
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