Why are gas prices so high?
- Thread starter Pool_Shark
- Start date
Worthless Loser
Blackpilled
Presidents have very little effect on gas prices contrary to what people are saying in terms of Presidential power. This would have happened if Trump was re-elected. Inflation would have also happened if Trump was re-elected. Inflation is a global issue. Not just an America issue. Now, it's been reported that Biden is considering meeting with MBS, the Crown Prince of Saudi Arabia, who could be asked to put more oil out there which could shut out or cut off Russia's influence in the market and help with gas prices. He most likely won't do it, but you never know.
When you essentially shut down an economy, then open it back up and demand immediately goes through the roof without supply there to match it, prices are going to go up. When oil production is essentially shut down or extremely lowered, then all the sudden it's in high demand when it's not being produced, high prices are going to happen. It's simple simply & demand economics.
One fair observation that can be argued is that Biden's American Rescue Plan did contribute to inflation. Because it was pouring a shytload of money into an already overheated economy. On the other hand, they may have wanted to avoid the issue with Obama's "not enough" stimulus package which was that it resulted in very slow economic growth over a long period of time and not quicker, faster growth that every day citizens wanted. And Obama took heat for that politically. Also, if the American Rescue act doesn't get passed, cities and states governments don't recover lost revenue from the pandemic to get back on their feet, businesses aren't saved, and the expanded child tax credit (which was a big deal) doesn't happen, and the economy would be a broken mess. A fair argument would be to suggest that the package itself was fine, but way too much money was in it. And officials may have been thinking about the short term impacts of getting the economy going again ASAP while underestimating the longer term effects (inflation).
Right now the market is correcting itself. Plus the fed is raising interest rates and will keep doing it until demand goes down, which would mean prices go down. So it will be painful, but it's a necessary pain to lower inflation.
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He sanctioned Russian oil
Idk why y’all keep saying the president of the United sates of America doesn’t influence gas prices when it’s been proven over and over again on here that he does. American foreign policy is one of the most important factors on gas prices. I.E sanctioning Russian oil. Oil prices are up due to increased demand and OPEC controlled pricing but also due to the current Russian sanctions. We are paying the price for Biden’s war. He literally said that out of his own mouth.
He sanctioned Russian oil
Percent Of U.S. Oil Imports From Russia Highest In Decades — At 3.5%
Some members of the U.S. Congress suggested Thursday that the United States ban oil imports from Russia in response to President Vladimir Putin’s disgusting, inhumane attack on Ukraine.
www.forbes.com
the U.S is largely energy independent. the 3.5% of oil we're no longer accepting isn't the cause of high gas prices.
The EU sanctioned russian oil as well and they had a greater demand for it than the U.S.
oil companies are just being greed, they're reporting record profits and have no intention increasing supply to reduce prices.
Worthless Loser
Blackpilled
The EU sanctions have a bigger effect than the US sanctions. And prices were already increasing before the sanctions. Its a global market disruption.
Minimum effect at the most. As I essentially said. No single handed major price change.
When prices are already high its easy to see that as crippling.
Smokin Rider
I been official
I told my boss today imma have to leave soon if I don't get a raise. Wasn't on no demand but real talk, I told her everything is too high, I understand im the highest paid but if a better opportunity comes around I will keep my options open and she said she can probably hook me up with a better job through her connections cause I'm her best worker and I been loyal helping this small business 
$6.89 at shell out here
And here i thought 4.99 earlier today was bad. I express condolences for your deceased purse/wallet.Im a little curious what your normal gas prices were like. Im over here fantasizing about getting my 2.60 gas back, but it seems like your normal price may actually be well above 3$
So you really think Trmp wouldve defied his daddy Putin to join in on these sanctions? This is where i blame Biden. im certain the Euro coalition against Russian commodities would die without our nosey nation pressuring the world.
He sanctioned Russian oil
EIA.gov article
And how much of US consumption does that make up? Also, I said what did he do to make worldwide oil prices skyrocket.If anything, Biden needs to reverse the Obama era decision to let oil go back on the market.
Congress voted in 2015 to repeal a 40-year ban on exporting U.S. crude oil. Since that year, crude exports have skyrocketed nearly 600% to 3.2 million barrels per day in 2020, according to data from the U.S. Energy Information Administration.
Crude Oil Markets: Effects of the Repeal of the Crude Oil Export Ban
Maybe it would help and maybe it wouldn't, but acting like war and all-time demand for oil (as well as profiteering) isn't what is pushing prices up helps no one.
Energy independence has absolutely nothing to do with this topic. We’re energy independent due to coal production and natural gas. People aren’t complaining about their electric bill, they’re complaining about gas prices and every other industry that relies on petroleum.Percent Of U.S. Oil Imports From Russia Highest In Decades — At 3.5%
Some members of the U.S. Congress suggested Thursday that the United States ban oil imports from Russia in response to President Vladimir Putin’s disgusting, inhumane attack on Ukraine.
the U.S is largely energy independent. the 3.5% of oil we're no longer accepting isn't the cause of high gas prices.
The EU sanctioned russian oil as well and they had a greater demand for it than the U.S.
President joe Biden said himself the sanction on Russian oil resulted in higher gas prices so you’re either claiming to know more than joe Biden or you’re calling him a liar.
He isn't at fault for the degree that they are at but his ass can go in 2024 and take Kamala with him. Does that satisfy you?The same clowns absolving Biden for record high gas prices. Will then turn around and say we need vote for him again or things will get even worse.
