Why are gas prices so high?

[Chrishaune]

This is what happens when you push hard for electric. Eventually there was going to be an industry economic war. The oil folks vs the climate changers. They are going to make every dollar they can before the industry is regulated to nothing. I'm expecting $10-$20 dollar gas per gallon in the next 10 years.

 

[bnew]

This is what happens when you push hard for electric. Eventually there was going to be an industry economic war. The oil folks vs the climate changers. They are going to make every dollar they can before the industry is regulated to nothing. I'm expecting $10-$20 dollar gas per gallon in the next 10 years.

without EV they'd be raping peoples pocket even more.

 

[Chrishaune]

without EV they'd be raping peoples pocket even more.

Nah, it wouldn't be this extreme. They see the end of the height of combustion vehicles. So they are going after retirement money. You are going to see prices you never thought you would see

 

[50CentStan]

Nah, it wouldn't be this extreme. They see the end of the height of combustion vehicles. So they are going after retirement money. You are going to see prices you never thought you would see

Once EVs become the norm gasoline will remain expensive due to less production/refinement by fewer companies. And electricity prices are going to go through the roof because of demand. People mad right now paying 17 cents kwh on their new contracts, gonna be worse in the future. Them summer electric bills gonna be

 

[Chrishaune]

Once EVs become the norm gasoline will remain expensive due to less production/refinement by fewer companies. And electricity prices are going to go through the roof because of demand. People mad right now paying 17 cents kwh on their new contracts, gonna be worse in the future. Them summer electric bills gonna be

The thing to do now would be to get a little off grid system, but we know people are going to sit on their hands.

 

[Alvin]

actually the war in ukraine does play a part
ussia's invasion of Ukraine
Russia is one of the largest oil exporters on the planet. In December it sent nearly 8 million barrels of oil and other petroleum products to global markets, 5 million of them as crude oil.

Very little of that went to the United States. In 2021 Europe got 60% of the oil and 20% went to China. But oil is priced on global commodity markets, so the loss of Russian oil affects prices around the globe no matter where it is used.
The concerns about disrupting global markets led Western nations to initially exempt Russian oil and natural gas from the sanctions they put in place to protest the invasion.
But in March the United States announced a formal ban on all Russian energy imports. And Monday the EU announced a ban on imports of Russian oil by ship, which represented about two-thirds of the oil European nations imported from Russia. Russia's oil is slowly and steadily being removed from global markets.
China lockdowns ending
One factor keeping oil prices somewhat in check has been the surge of Covid cases, and strict lockdown rules in much of the country. That was a major drag on demand for oil.
But as the Covid surge has started to retreat, the lockdowns are being lifted in major cities such as Shanghai. And more demand without increased supply can only drive up prices.

 

[Alvin]

He sanctioned Russian oil

that's only a part and actually he didn't do that until recently. That affected EU more than us, we don't see a lot of russia oil imports, try driving in Sweden or Finland.

 

[shopthatwrecks]

Biden's America....When Obama was in office we did not have issues like this.

Shiiiid Obama had gas hittin 4.56 in Washington durin his 2nd term

 

[RareHunter]

Like whats the actual explanation? I can’t even take my kids to the park without taking out a loan !!!!


A year ago shyt was dirt cheap. How are we at 7 a gallon???

Because the Judgements are coming.

 

[King Poetic]

Driving to Tijuana Mexico to load up and drive back here to Cali

 

[that guy]

that's only a part and actually he didn't do that until recently. That affected EU more than us, we don't see a lot of russia oil imports, try driving in Sweden or Finland.

I know that’s only a part of it, my reply was to a poster asking how Biden is responsible for higher gas prices. He passed the sanctions all the way back in March, it wasn’t recently. That’s how he’s responsible. Gas prices in feb was about $3.50. In March (when the sanctions were passed), gas prices rose 70¢ to $4.20. Why do y’all cape for Biden when he himself said gas prices would
Increase due to his sanctions?

If you read the thread youll learn that gas prices are determined by the global commodities market. When Biden passed the sanctions it resulted in higher gas prices here in the US due to the market reaction. It has nothing to do with how much oil we import from Russia.

 

[mykey]

Russia's oil is slowly and steadily being removed from global markets.

You've got to be joking.

This was a serious own goal by bungling Biden.

 

[bnew]

You've got to be joking.

This was a serious own goal by bungling Biden.

 

[Goat poster]

oil companies are just being greed, they're reporting record profits and have no intention increasing supply to reduce prices.

And there you have it folks.
Always PROFIT for the rich….

 

[Alvin]

I know that’s only a part of it, my reply was to a poster asking how Biden is responsible for higher gas prices. He passed the sanctions all the way back in March, it wasn’t recently. That’s how he’s responsible. Gas prices in feb was about $3.50. In March (when the sanctions were passed), gas prices rose 70¢ to $4.20. Why do y’all cape for Biden when he himself said gas prices would
Increase due to his sanctions?

If you read the thread youll learn that gas prices are determined by the global commodities market. When Biden passed the sanctions it resulted in higher gas prices here in the US due to the market reaction. It has nothing to do with how much oil we import from Russia.

The point I’m trying to say is that people act like a president can snap their fingers and make gas prices fall or rise. Yes oil and gas would’ve went up some with the sanctions, but there are more reasons as to why it up significantly