- Edited
johnnydoom
Get ready, it's coming!
What you said was absolutely perfect. You better hope you didn't use improper grammar or miss a comma or anything else or you will be called names or called stupid.
Gas Prices, am I right?!
- Edited
Yipsy When range and charging times improve and cost of replacing batteries drop
They will, sooner rather than later.
Political influence is very real when it comes to energy prices. There are certainly many things that are out of political control. For instance, if Saudi Arabia and Mexico say they won't sell to U.S. companies anymore for political reasons, our prices would necessarily increase. Or if China commits to buying crude at whatever the price may be, that could drive up the costs.
But our leaders have influence over those relationships and over regulations that can buffer those things. When the price of oil shot up under G.W. Bush, it turned people very much against him. With the high prices came fracking, which increased U.S. production. Even though later politicians (Obama, Biden, and now Harris) were under considerable pressure to regulate or ban fracking from their own base, they did not do it because they were wise enough to know that fracking is a buffering agent against global prices and to remove it could be political suicide if prices quickly went back to GWB levels. They ended up not having to do anything because prices dropped back low enough to make it inefficient again.
- Edited
johnnydoom the U.S. president and their regulatory control
Didn't realize they had that control. Thought it was within the Det. of Interior, and any approvals were made by Congressional regulatory committees.(??) But I didn't do well in Civics/POD class.
As I understand it, the President can issue executive orders, pertaining to such situations, as Biden did his 1st week in office. But cannot stop or increase production. President's can only 'politely ask', as Trump did, iirc.
With all that, it was still times of differing demands creating the prices, not the Presidents(either of them).
And as we all know, if the taps were all opened, gas would be nearly free. And all the Shieks would be suicidal.
https://www.csis.org/analysis/biden-makes-sweeping-changes-oil-and-gas-policy
johnnydoom Strange. The graph shows a strong correlation.
Dude, look at the chart again and tell us all about correlations. LOL Trump elected 2016 the next 2 and 3/4 years gasoline went up. What's that mean?
Then it dropped precipitously into the pandemic. What's that mean? (A hint,, demand went way down.) First, demand really dropped. Then the supply-side slowed down because there was less need for refined oil. As demand increased so too did the price.
You think that chart reflects a direct 1 to 1 correlation? You're not understanding a small sample size, over a short period of time, not adjusted for the concomitant value of the dollar.
Do some research in economics and get back to me since you're purporting the POTUS controls the price of gasoline.
johnnydoom that doesn't mean it can't be influenced by the U.S. president and their regulatory control of the industry just because you don't like it.
So, now you're also stating that the POTUS has regulatory influence over the oil industry? That's a joke. Big Oil owns this country far mare than even Big Pharma.
Par4QC Didn't realize they had that control.
Because they don't. A very good reason to not realize that. It's simply a myth.
jsippy73 President can refuse to issue permits or make so many regulations that make it impossible to drill or do most anything.
I don't think that is true. Permits are issued under the Dept. of Interior(Land Management div.).
And here again, the President does not make the regulations, as I understand it.
And right now there are more permits out than ever in history. Many came from this administration's tenure.
When it comes down to it, you and I, control the drilling/production more than the Presidents. IYKWIM
Par4QC AFAIK the Dept. of Energy and the Dept. of Interior are in the Executive branch and the President is Chief Executive.
johnnydoom So his sig is on all the permits?
professor So, now you're also stating that the POTUS has regulatory influence over the oil industry?
Yes. He can fire the Secretaries of Energy and Interior at will can’t he? If he can’t than he is only a figurehead and is of no value or consequence to anyone.
Par4QC I have no idea. But he can determine whose signature is.
- Edited
As with most commodities , Oil pricing is primarily driven by supply/demand fundamentals. Geopolitical factors will intertwine with that. The cost of exploration, drilling and production is obviously also a major factor in price.
OPEC plays a role as does the global investment community where speculation and hedging go on and of course general market sentiment
johnnydoom They are cabinet posts. And are in the line of succession actually(Energy =15th).
But if he 'runs' those depts., why would he(Biden) have to issue an Executive Order on the permits??? And why would Trump just 'ask' for an increase in oil production???
I'll never understand government......
professor I may not be an economist, but I can read a chart. Take off your blindfold and compare 2017 - 2020 to 2021 - 2024 and tell me which period was lower and more stable. Stop the gaslighting and see what is right in front of you. Don’t believe the chart? Then pull up your own gas receipts from both periods and compare them.
Par4QC But if he 'runs' those depts., why would he(Biden) have to issue an Executive Order on the permits
Again, I don’t know the precise reason. I presume that like most organizations, the departments have many levels of management and procedures. I presume the executive order is to formally override those layers. However, I have no direct knowledge.
Would shutting down a pipeline construction project on day one have any effect on decisions of oil companies? Asking for a friend (don't want to be called an ignorant idiot by the "professor").
Some seem to believe that ONE pipeline, which was to ship the world's costliest "oil" to produce ("oil" that is strip mined), would magically solve the global energy situation forever.