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<blockquote data-quote="vantexan" data-source="post: 5287388" data-attributes="member: 24302"><p>It&#039;s over $100 a barrel not because of our oil companies but because of the disruptions caused by Putin, because of the decrease in supply due to Biden cancelling leases on Federal land, because of OPEC holding back on production, etc, etc.&nbsp; Prices are determined by the futures market and all of this is factored in.&nbsp; The traders buy and sell based on government reports, corporate reports, the latest news such as a Saudi oil field shutting down after being bombed, that sort of thing.&nbsp; You said I was trying to simplify what&#039;s going on to put it all on Biden but you&#039;re doing exactly that with the oil corporations.&nbsp; If they control the price then how did oil go negative on the futures market in 2020?&nbsp; And according to you they were still making billions in profits.&nbsp; I think you need to stop listening to the liberal line and educate yourself to how things really work.&nbsp; Sooner or later market forces will bring prices down and oil companies won&#039;t be making record profits.&nbsp; And that will probably happen when the next president reopens Federal land and offshore drilling so that our production goes way up.&nbsp; By the way I&#039;ve heard people here grouse about our oil being exported instead of being sold domestically.&nbsp; It&#039;s a matter of storage.&nbsp; If the tank farms in Cushing, OK are maxed out the oil has to go somewhere.&nbsp; That&#039;s what happens when every venue possible for drilling is opened up, there&#039;s excess.&nbsp; And lower prices to get rid of the excess.&nbsp; When supplies are tight we have higher prices.&nbsp; Instead of defending Biden by saying it won&#039;t make any difference Biden should reverse his policies and let us see if it makes a difference.&nbsp; He won&#039;t because he&#039;s beholden to the far Left.&nbsp; Even if you don&#039;t believe any of the above you&#039;ve got to know that the Democrats are going to be slammed in November because of the high prices.&nbsp; Starts with high fuel costs.&nbsp; Denying that his policies had anything to do with high prices won&#039;t change what&#039;s coming.</p></blockquote><p></p>

[QUOTE="vantexan, post: 5287388, member: 24302"] It's over $100 a barrel not because of our oil companies but because of the disruptions caused by Putin, because of the decrease in supply due to Biden cancelling leases on Federal land, because of OPEC holding back on production, etc, etc. Prices are determined by the futures market and all of this is factored in. The traders buy and sell based on government reports, corporate reports, the latest news such as a Saudi oil field shutting down after being bombed, that sort of thing. You said I was trying to simplify what's going on to put it all on Biden but you're doing exactly that with the oil corporations. If they control the price then how did oil go negative on the futures market in 2020? And according to you they were still making billions in profits. I think you need to stop listening to the liberal line and educate yourself to how things really work. Sooner or later market forces will bring prices down and oil companies won't be making record profits. And that will probably happen when the next president reopens Federal land and offshore drilling so that our production goes way up. By the way I've heard people here grouse about our oil being exported instead of being sold domestically. It's a matter of storage. If the tank farms in Cushing, OK are maxed out the oil has to go somewhere. That's what happens when every venue possible for drilling is opened up, there's excess. And lower prices to get rid of the excess. When supplies are tight we have higher prices. Instead of defending Biden by saying it won't make any difference Biden should reverse his policies and let us see if it makes a difference. He won't because he's beholden to the far Left. Even if you don't believe any of the above you've got to know that the Democrats are going to be slammed in November because of the high prices. Starts with high fuel costs. Denying that his policies had anything to do with high prices won't change what's coming. [/QUOTE]

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