Oil price dropping

Family

Well-Known Member
Do you think the Biden administration will allow gas prices to fall giving the commoner a tax cut? $68 a barrel this morning
 

vantexan

Well-Known Member
My lot? Lol your lot banned drilling! Lol it’s dropping because of lack of demand, inflation your lot caused.
Another reason it's dropping is international sanctions on Russian oil caps it at $60 a barrel. To compete with that price means lowering prices.
 

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All Trash No Trailer
Every lot blames every president what happened to Harry Truman? The buck stops here?
The MAGA crowd were quite loud in blaming Biden when gas went up. ( Remember those absurd"I did that stickers" the MAGA folks loved sticking on gas pumps?) however since prices are dropping I have yet to hear him getting any credit from those same folks.

Of course the president has ZERO to do with oil prices
 

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All Trash No Trailer
My lot? Lol your lot banned drilling! Lol it’s dropping because of lack of demand, inflation your lot caused.
thats another MAGA lie. Drilling was hardly banned. it is cheaper for the Oil Companies to import oil rather than extract it.
this is a sad truth your MAGA lot loves to overlook and deny
 

vantexan

Well-Known Member
Bollocks, it is cheaper for the Oil Companies to import it than drill.
more MAGA lies
So all those small oil companies who've been restricted from drilling on Federal land are now importing oil? The big oil areas of Texas and North Dakota have been shut down in favor of importing oil? The fact is that Biden reduced production by restricting new drilling on Federal land and offshore. Rather than opening that back up he's gone to Saudi Arabia and Venezuela to find more. It's a stopgap measure because these guys believe the need for oil will eventually be greatly reduced. And the big beneficiary appears to be ARAMCO. You do know who they are, right?
 

Lineandinitial

Legio patria nostra
The MAGA crowd were quite loud in blaming Biden when gas went up. ( Remember those absurd"I did that stickers" the MAGA folks loved sticking on gas pumps?) however since prices are dropping I have yet to hear him getting any credit from those same folks.

Of course the president has ZERO to do with oil prices
LOL...
You have to be ultra brainwashed or Forrest Gump to think that prices increasing by $2.00 a gallon and then falling by 10 cents is a positive thing.
 

Wally

BrownCafe Innovator & King of Puns
Democrats in my state jacked the gas tax sky high. They need the money so they can pay more- per mile of road work than any other state.
 
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Lineandinitial

Legio patria nostra
Correct me if I'm wrong, but didn't NAFTA 2.0 include a 1M barrel per day reduction to allow Mexican oil to come to market??
No
 

Up In Smoke

Well-Known Member
No
That's right, it was an OPEC+ agreement to reduce production in order to aid Mexico.
 

Lineandinitial

Legio patria nostra
That's right, it was an OPEC+ agreement to reduce production in order to aid Mexico.
I wouldn't characterize it as such. OPEC+ were all to cut production by 400K bpd to collectively increase pricing. Mexico couldn't afford that and were allowed to cut only100K bpd, but for only 2 months in summer 2020.
There's probably dozen's of "deals" that have been made in the last 36 months, but nothing was connected to USMCA either directly or indirectly. Nothing.
 
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