Admit it. If you are a Leftist/Progressive/Democrat, then you are unhinged.

@Thechain Inflation was very low under Obama. It was high before now under Nixon, Ford, and Carter.

@Thechain stop expecting fuel to be cheap like you're entitled and elite. Pay the price for the convenience and move on.

@zonavar68 you're damn right im entitled. Im entitled to pay a fair price for gasoline like every other hard working American. Sitting around stagnant about it lets things get out of control

@Thechain

@Fukfacewillie cupcake no, hard-core right yes.

@Fukfacewillie Inflation was high in the 70's because of supply shock in oil, i.e., the Middle East Oil Embargo. The Embargo was because of US support of Israel.

Not enough oil and gas to meet demand.

Today's supply shock is a self-inflicted wound.

@Thechain Look at this way - we here in Australia currently pay between $2 and $2.50 a litre for normal ULP - and higher if we want 95 or 98. So just use $2.50 a litre as the benchmark. A gallon is 3.7854 litres so if you were paying Australian prices for fuel you'd be paying A$9 to 10 ish and taking into account exchange rates you still get it way cheaper than us. On Sep 28th the federal fuel tax goes back up from 22.1 c per litre to 44.2 cents per litre so that adds nearly another dollar to the cost of every 'gallon' of fuel we might buy here

In New Zealand you add a dollar to the Aussie prices to get their price per litre. So you US people whacking on about the cost of fuel can shut the fuck up!

@HoraceGreenley I’m reading a general consensus about increased demand post pandemic and disruption from no longer buying Russian oil.

@Thechain Then they must be printing excess money and blaming the righties all over the world. I've just come back from Greece, where petrol is approximately $18 a gallon.

@zonavar68 ya fukkin aussies who dont live here can stick yer outback noses back to down under

@Thechain what has the price of petrol got to do with Biden?
Trump’s master, Putin invaded Ukraine which has pushed prices up, not just petrol, and it’s going to continue

@SW-User Have a look at how much of that is taxation

@Fukfacewillie Those factorss are not enough to make such a drastic change. Remember the price of oil doubled from $39/bbl to $80/bbl in less than 6 months after Biden took office. Fossil fuel oroduction fell during this time. Oil was well over $90/bbl months before Putin invaded Ukraine.

Demand was still low and production continued to fall.

Since the invasion prices spiked up to $120/bbl due to the loss of Russian oil supplies and increased demand.

The 2 conclusions are that most of the price increases in fossil fuels were due to Biden's policies of limiting domestic production.

As the US was already self-sufficient in oil and gas, and a net exporter of energy under Trump, the energy industry, if not hamstrung by the Biden administration, would have easily kept up with increases in domestic demand. There is plenty of easily available energy in the US.

These high energy prices are a completely self-inflicted.

@HoraceGreenley such pure fucking bullshit

@Strictmichael75 I can't help you if you don't understand economics.

I hope you trade stocks. I look forward to fleecing you.

@HoraceGreenley I am fed up with dickheads like you who can’t see further than your nose!
Learn to educate yourself
You are like Trump, you can only insult people

@HoraceGreenley I don’t really know, but perused a few articles and didn’t see limiting production by Biden as a factor. I found he hasn’t, actually:

America produced 11.185 million barrels of crude oil per day in 2021, compared with 11.283 million a year earlier under Trump. The amount produced in Biden’s first year exceeds the average daily amount produced under Trump from 2017 to 2018, according to data from the U.S. Energy Information Administration.

Biden did issue an executive order his first month in office that paused new oil and gas lease sales on government land pending a review, but that order was struck down by a federal judge in June.

In addition, Biden has surpassed Trump in issuing drilling permits on public land, the Washington Post reported in January.

https://www.politifact.com/factchecks/2022/mar/09/facebook-posts/oil-production-bidens-first-year-par-trump/

@zonavar68 I am reading that 40% of the cost of gasoline in Australia is taxes. If you got the government out of your gas tank, you would be around $5 a gallon.

@Roadsterrider fuel is double taxed here. On petrol diesel and some others federal excise is 44.2 cents per dollar cut to 22.1 from may until SEP 28 by previous federal gov plus GST (like sales tax) of 10 percent. I bought 87 litres of diesel today at $2.059 per litre costing me $180. Of that, 1/8 or about $20 is excise (it's still halved) and gst accounts for about $15.

@Fukfacewillie Domestic oil and gas production ramoed up during the Trump administration. US self-sufficiency did not happen during the Trump administration until the last year he was in office.

As for Biden, leases are not the issue. The lack of permits for drilling, extraction, pipeline construction, etc., have lowered production.

Varoius federal agencies issue these permits. The agencies are simply making it more difficult and time consuming to obtain permits. This is the issue and its a policy one.

Covid lowered demand. Production is not matching the increased demand now that Covid lockdowns are over.

This is not the time to slow down the permitting process.

@HoraceGreenley At this point I think I may need evidence-based conclusions for the other side. I don’t have a dog in the fight, it’s just not what I’m seeing.

@Fukfacewillie After an exhaustive 5 second Google search, this is the first link:

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M


Thousands barrels per day
Jan 2020 12,785
Feb 2021 9,773
Mar 2022 11,665

@HoraceGreenley I don't see how a dip in production for one month in February 2021 was a) caused by Biden, and b) is the cause of the rise in gas prices that have stayed high after production increased back up.

2021 11,056 9,773 11,160 11,230 11,334 11,288 11,330 11,206 10,851 11,526 11,769 11,604
2022 11,369 11,306 11,655

So, why the drop?

https://www.reuters.com/business/energy/us-crude-oil-output-fell-feb-lowest-since-2017-2021-04-30/

The output drop came as a freeze in Texas shut in some production, but declines were also seen in other major oil-producing states. Other states that suffered big declines due to the February freeze included Oklahoma (down 16.7%), Arkansas (down 15.6%), Kansas (down 11.2%) and Louisiana (down 10.0%).

I think you'll see Biden was not responsible for the drop, and that the drop was temporary, and as such would not have resulted in a long term increase in prices.