Signs of the Times

@sunsporter1649 the POTUS, no matter how it is or which party they are member to, is responsible for the prices of anything.

@McGeeisme So they have told us from 2017 to 2021...

@sunsporter1649 if you read, past tense, or watched, past tense, the news in any decade prior to this one "they," meaning whoever, was saying it then too, no matter which party held the White House. You're just being politically passive aggressive, which is very juvenile behavior and certainly, if the age you have posted is true, you ought to know better, if only because you know someone will call you out on it for being so obvious. And ignorant.

@sunsporter1649 I haven't been searching for them. But you seem to have them stuck in your bonnet.

@McGeeisme Just like you haven't been looking for those "less than 100" American citizens you abandoned to the raghead terrorists...

@sunsporter1649 yep, I the guy, the one who makes all the decisions that piss your right wing terrorists off. That's me. I admit it, it was me that left some Americans behind in Afghanistan instead of fighting battles that would have killed thousands more, mostly civilian Afghans at a time when they are about to have their world, again destroyed by the Taliban. Dunno why you're not hing bubba, the Taliban and your ilk are exactly the same.

@McGeeisme

@sunsporter1649 wrong idiot. The US is the leading oil producer in the world. Wake up. Read a real news paper for once, learn how to dig up, read, comprehend real information. Even if it.means you go back to the fifth grade, the one you obviously quit going to school during

@McGeeisme

@McGeeisme @sunsporter1649

@McGeeisme In January 2020, just before the Covid-19 pandemic began to sweep across the U.S., domestic oil production was 12.8 million barrels per day (BPD). Production remained at that level for a couple of months despite the double-whammy of a price war between Saudi Arabia and Russia, and growing demand destruction as a result of the Covid-19 pandemic.

But the situation was untenable. The price of oil eventually fell to zero and then kept going. That forced some producers into bankruptcy, resulting in the largest short-term oil production drop in U.S. history.

Monthly Oil Production
Monthly U.S. Oil Production Since 2000 ROBERT RAPIER
Production declined all the way to 9.7 million BPD in May 2020 (which was the month after oil prices went negative), but has since bounced back to 11.3 million BPD.

Meanwhile, U.S. oil demand has jumped back above 21.8 million BPD, which is where it was prior to the Covid-induced plunge. This loss of supply and recovery of demand is the biggest reason we have $80/bbl oil today when it was only $60/bbl just before the pandemic.

The loss of supply has caused the U.S. to lose its briefly-held status as a net exporter of petroleum and petroleum products. That number had trended down from a high of 13 million BPD of imports in 2005 all the way to over a million BPD of exports in 2020. Now we have returned to net importer status, most recently importing a net average of 1.3 million BPD over the past four weeks.

Forbes Oct 22, 2021