So, whose fault is it that the price of gasoline is so high?

Daniela1982

As a person who works on an oil platform says, there is plenty of oil in the United States to supply our needs for 400 years. Some people don't want that known because they have invested in electric power for our vehicles.

"

So, whose fault is it that the price of gasoline is so high?

"I work for a petroleum company and I'm holding in my hand (shown in image attached below) a 140-milliliter sample of Louisiana light (sweet) crude oil. I collected it myself from a process separator aboard the production facility I work on in the Gulf of Mexico. It may not seem like much to you, but it really is a very remarkable substance! It's more than 50 million years old, and came from an oil reservoir that's almost 20,000 feet underground. Very soon, it will travel hundreds, or maybe even thousands of miles on its journey to becoming one of the many products that crude oil is refined into. It has a dark earthy brown color, is slightly less viscous than tap water, tastes worse than it smells, and is the life blood of the world economy. Believe it or don't, but this sample represents the single most valuable commodity in existence. Without it, nearly every facet of modern civilization stops. Immediately.

This sample contains about .0028% of my facility's daily crude oil output, but is less than four hundred-millionths of 1% of the United States' daily crude oil consumption. It's also an infinitely small amount when compared to the 4+ trillion barrels of known domestic crude oil reserves. That means there's a frikken' buttload of crude oil, right here in the good ol' US of A! It's enough to sustain us for more than 400 years, so
there's no shortage of domestic crude oil, and more is being discovered everyday.

Anyway, so what's the point of this? Why have I told you this? It's to expose you to the truth about crude oil and the oil industry, because you've been lied to by the phony President and his phony cronies, but I want to set the record straight. I'm going to tell you the truth, so pay attention.
Here are the facts Jack!
1. There is enough recoverable crude oil within the continental US to supply current and projected future demand for 400+ years, and that's just the oil we know about. It doesn't account for future discoveries. That's a fact...

2. We do not need to import a SINGLE DROP of foreign crude oil. The domestic oil industry can easily meet, and even surpass domestic demand. We've done it before, and we can do it again. That's a fact...

3. The domestic oil industry currently cannot satisfy domestic demand due to oil drilling restrictions imposed by the federal government. That's a fact...

4. The price of EVERYTHING revolves around oil, and the law of supply vs demand dictates the price of oil. When oil is plentiful, commodities are cheap. When oil is scarce, commodities are more expensive. Right now, domestic oil is scarce, and the price of everything is high because of restrictions imposed by the federal government. That's a fact...

5. We import foreign oil from countries that drill and produce it much cheaper than we're able to because they do not implement all of the environmental safeguards that we do. Thus their methods are FAR more destructive to the environment than ours are. That's a fact...

6. Every year, the federal government leases tracts of land to oil companies to explore for oil. If enough oil is found during exploration, the company can then apply for a drilling permit to drill a well. If no oil is found during exploration, or if the amount found is not enough to be profitable the lease expires without ever being drilled on. Leased land not being drilled on does NOT mean that oil companies are being lazy, or are trying to keep the oil for themselves, etc. etc. It means they've either explored the lease for oil and found nothing, or not enough to justify drilling for. That's a fact...

7. it's not Russia's fault, or China's fault, or Ukraine, or India, or Venezuela, or Iran, or Bangladesh, or any other countries' fault as to why everything is so expensive right now. It's Joe Biden's fault, because he is suppressing the domestic oil industry for political gain. Those are the facts!!

You see...I don't take it kindly when Biden and his cohorts go on national TV and bold-face lie to the American public about the oil industry. I don't appreciate when my hard work and dedication is eroded by corrupt, self-serving politicians who don't know jack shit about this trade. It doesn't sit right with me, when they promote an unsustainable alternative energy policy that benefits themselves and their corrupt business partners while leaving people like me and you with barely a pot to piss in. It all kind-of rubs me the wrong way, you know? Especially since pretty much EVERYTHING depends on crude oil...but you might not know that if you believe the lies that are being told about oil and the oil industry.

If you've made it this far, congratulations! You're now more knowledgeable about the oil industry than most of our politicians are. So what should you do with all of this new knowledge? It just so happens that I've got a great suggestion for you! The next time they're on TV lying to you about the oil industry to try and cover their asses, remember what you've learned here...and remember it again when it comes time to vote."

So, whose fault is it that the price of gasoline is so high?
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  • Aerissa_Jade
    I blame Democrats, they have flat out TOLD me to my face... they want gas at over 10 dollars a gallon to force people to give up their cars. To take mass transit, and when I point out... it doesn't exist, they deflect and say its my choice to live where I do, so I shouldn't complain that there is no mass transit.

    See that logic is why they suck... force you do something with no solution then try to gas light and say the fact there is no solution is my own fault. They want me to do something and magically create my own solution for something THEY WANT ME TO DO.

    Innovation really is the answer, I can guarantee 100% if someone invents a electric pickup that can drive a 1000 miles without a charge, can tow 20k + and is cheap, like less than 40k cheap and has a 250k thousand mile warranty... everyone will buy one. When I say pickup I really mean any car, but since we have electric cars but no real pickup, by starting there it goes down to the smaller cars.

    Don't regulate it, invent it, create it and mass produce it cheap. Use the free market in their favor for it.

    Democrats have done everything in their power to make oil go up, Biden on his first day in office... people don't understand futures. Sure there was some money lost during covid... but its funny that BIDEN was telling people its okay to return to the office. Lets start commuting to work again.

    Why would the Democrats not want to try and make businesses let people work from home who have for two years? If they are concerned with pollution you'd think they would pass a law that say if someone can work remotely, they are legally required to. This only applies to jobs that can be done remotely though, from home.

    Yet they are ignoring the 'low hanging fruit' for pollution and don't mind importing Chinese goods, the shipping industry is a huge world wide polluter.

    Anyone with even 1% of a brain can clearly see this... only those who are so invested that they are blinded cannot see it.
    LikeHelpfulDisagree 10 People
    Is this still revelant?
    • exitseven

      Yes, electric cars are only produced for the rich. They do not need to cost 60-100K. Electric cars do not really need transmissions because electric motors put out incredible amounts of torque. They also do not need all the fancy electronics either.

    • JohnK123

      @exitseven all cars cost over 20k

    • JohnK123

      Even a trashy lemon car

    • Show All

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What Girls & Guys Said

863
  • Massageman
    C'mon now, D. Tell us how you REALLY feel! ;- ). but I digress - - - -

    Short answer- socialist takeover powers and illogical, impossible thinking.

    Details-
    The irony is that when the liberal-mis-info-brigade is called out about their lies, they convince the sheeple that something THIS weird just plain COULD. NOT. HAPPEN.
    Except that it IS! They deliberately MADE it SO weird that it wouldn't seem possible. But is is! We were energy independent under President Trump and we could be again.

    The sad reality of this "big switch away from 'fossil fuels' " is that there simply is not enough time to cover even the most conservative estimate of the energy needed- and in the form desired- to deal with the "govt mandates" of EPA mileage requirements.
    The numbers simply do not wash.
    The EPA plan under joe puppet will be (hold on now) 49 MPG in 2026! And, there are rumors looking for a 100 MPG "equivalent" if EVs are involved by 2030! This will NOT be happening unless the govt is going to bury a couple thousand loopholes. Car bodies are wafer-thin now, and (nearly) dent when you bump them with a feather. Brake rotors are so thin they can't even be turned once, yet alone twice, and must be replaced with the pads. We never hear about these indirect costs. The feds push more ethanol in the gas. More taxes making more handouts, lower power, lower mileage, more inflation. And cutting into acreage needed to grow crops for people to eat, not burn in their cars. Maybe the powers that be should learn how to get 4-5 ears of corn from a single stalk: most now produces only one, while a few may produce two.

    Solar and wind power? Another joke - we can't even come CLOSE- no country can. Raw materials are needed to make new solar cells- rare earth metals- steel- aluminum- silicon (wafers) - silica (sand for the glass)- boron - the list goes on and on. The problem? Many of these are in foreign lands which are under insult from the socialist teams trying to smash the US. The supplies we have IN the U. S. will sit there- unused, in large part- because the links in the proverbial supply chain are really kinked!

    Solar and wind give us "free electricity"? lol-roflmao. It costs $ to get the property on which they stand, $ the make the panels, $ in install them, $ to maintain them, $ to hook into an ever-expanding grid, $ to dispose of them in a decade.
    And we are going to have terawatts of electric power installed and ready to run in 4 YEARS? Heck - the EPA studies won't even be done by then - have to keep too many federal lackies employed, doing, um- er- ah- essentially NOTHING! Time of day pricing will be an even bigger joke if people are going to plug in their cars each night: then NIGHTTIME will be the highest rate.
    Helpful 1 Person
    • @Massageman We have windmill farms along the freeway in Yucca Valley here in California. I can't even imagine the cost of building them and installing them. All I know is that they are unsightly. However, if the smog gets any worse we might not see them anymore.
      https://youtu.be/PfyJhqy_ke8

    • Just lay down old geezer along with your archaic thinking and accept your death to make way for the future that is Humanity and Nuclear Fusion!

    • Massageman

      @vald9inches Fusion is a loooooong way off, if ever. And, for the record, I'll take proven archaic thinking for pie-in-the-sky Bravo Sierra any day of the week.

    • Show All
  • monorprise
    Interesting, its a shame their so obsessed with "global warming" while the Earth is still locked in an ICE AGE. This is due to the arrangement of Earth's continents supporting soo much erosion.

    This of course is a real problem unlike the Earth getting a few degrees warmer, a return of the ice will not only crush our cities under a mile of ice, but it will drop the earth's overall carrying capacity to a fraction of what it is now. Growing seasons will get shorter, land will get dryer and the usable land will move further south.

    Instead of a planet that can support 9 billion people we will be reduced drastically to a planet that may only support 4. Guess what will happen to the 4 billion people we can't feed.
    Basically the opposite of what happen when the earth gets warmer and returns to its normal greenhouse Ice free conditions. Its worth noting that today about 30% of the earth's previously usable land is unusable due to the current ice age conditions.

    We should want to end the ongoing Ice age, unfortunate even if we burned up the remaining 90% of earth's fossil fuel reserves it would only at best delay the next 5 glacial cycles. So this is only a short term solution for the next few hundred thousand years.
    Like 1 Person
    • Wait, what?

    • blowmedown

      It used to be called global warming, now renamed rip off everybody and tax them too

    • monorprise

      @daniela1982 An ice age is defined as having permanent ice on both of Earth's poles, this is not a normal condition for Earth. Less than 15% of our history has there been such permanent ice, periods known as "Ice Ages".

      The current ice age is called the Quaternary Ice Age and it has been going on for a bit over 2.5 million years now.
      It was instigated by global changes resulting from the formation of Panama between North and South America around that time in combination with the gradual lowering of Green house gas levels via erosion since the break up of Pangea about 175 million years ago.

      Indeed the climatic ciaos that has resulted from the ongoing Ice Age is in large part responsible for the the existences of Mankind. Most of the life on Earth has not been so lucky.

      Today's green house gas levels are relatively low compared to most of earth's history.

    • Show All
  • MuddyMole
    Apparently, the price of oil (and therefore gasoline) has little to do with supply and demand these days - it's all about dodgy investment traders: https://www.theguardian.com/environment/2022/apr/28/gas-prices-why-are-they-so-high-traders

    Veteran oil analyst Philip K Verleger has warned that supply and demand “fundamentals have been rendered almost irrelevant” for oil prices, a key determinant of the price of gasoline at the pump.
    The price of oil, natural gas, and other vital fossil fuel commodities are today primarily set by energy traders, whose actions are stoking rising prices and volatility.

    Little physical oil actually changes hands with such trades, which take place on two main exchanges in the US. Instead the trade is in futures contracts, a commitment to purchase a set amount of oil in the future for a price agreed in the present. But because the virtual trading has come to dwarf the physical trade, it now determines the price of oil. Greenberger estimates that “something like 13 times the physical amount of oil is traded” via these purely financial contracts.

    Also, the actual retailers from whom we buy the gasoline, are keeping the prices artificially high - the price of oil was higher for an extended period in 2011 and 2012, while gasoline was still cheaper than it is now. Supposedly, they do this to shield themselves from a predicted increase in the price of oil, and to make up for poor profits during the pandemic.
    Helpful 1 Person
  • NathanDavis
    I knew this already...

    because I live in Texas, and down here... the price is still "normal" around $3.60

    fuel is a business, and it is for profit... it is not a service from the government, as simple as that, lol
    Like 1 Person
    • But it is regulated so the government has some say. Look how Biden cancelled the pipeline and put thousands out of work.

    • it is not regulated as it should be...

      did you know that Southern Texas companies buy crude oil from Mexican cartels?

      that is one of the reasons why gasoline here could be this cheap

      and when the government tell those companies "hey that is illegal!!!" and then, they fine the company less than 5 million dollars

      do you know how much is 5 million dollars for an oil company? nothing at all... lol

      nobody goes to jail either, the company is not taken out of the business... government just collect the fine and ignores the issue, this is NOT proper regulation

      and this has been happening under Biden, happened under Trump, happened under Obama, happened under Bush... I am not sure if it happened under Clinton but it probably did... since that was the time around that started NAFTA and all that

    • I guess greed knows no limits.

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  • laurieluvsit
    Who's to blame? ... Let's see?

    The Communists currently running the US shut down fracking, the oil pipelines and canceled all the federal oil leases.

    Let me think?

    ... I'll get back to you on that oneSo, whose fault is it that the price of gasoline is so high?
    Funny 1 Person
  • libsaretards
    Democrats. Yes, there are things outside the U. S. Government's hands that are factors, but we have the capability to minimize those costs with the bast resources we have here in the U. S.

    First, we have enough fossil fuels to power the U. S. for 400 years as OP pointed out.

    Second, an American recently invented a fuel system that is powered by water. That person was found dead very soon after. Coincidence, who knows? However, this person was very healthy and smart. The only ones who stand to lose from such an invention are those heavily invested in electric sources of fuel. That would be Democrats mostly. They could not power off a car fueled by water.

    However, electrical vehicles in theory could be shut down by government who are displeased with a certain people. Let's be real. The real reason Democrats want electric vehicles is so they can have the power to control the power source of vehicles and thus make people dependent on them and their whims because even electricity is powered by fossil fuels somewhere so it is not about reducing dependance on gas.
    Like 1 Person
  • Emilyis
    Joe Biden screwed this country his very first day in office and I can't wait him to be ran out of office in two more years. He is an absolute discrace to the United States. Every other country is laughing at us and His V. P. Is a laughing hienna. She can't even make a sentence that I can understand.
    LikeDisagree 2 People
  • AviatorTom
    Let's please remember that the cost of gasoline in the US is much cheaper than other countries. It's not uncommon to find gasoline (petrol) in Europe selling for around $10 a gallon.

    Let's please also remember that a significant part of the cost per gallon in the US is federal and state taxes, which are supposed to be used for roads and transportation.
    Like 2 People
  • exitseven
    Good MyTake. I knew some of this but it was very informative. You are right that the whole thing is the fault of democrats. They will all get rich investing in electric cars and solar panels. People will spend lots more on energy and in 20 years the climate will still be changing. Trump 2024.
    Make America Great Again Again
    Make America Great Again Again
    LikeDisagree 3 People
    • Elon Musk

    • exitseven

      @vald9inches He was not born here. But neither was Obama and it didn't stop him.

    • Yea but he would make the perfect US President honestly way better than anyone before him

    • Show All
  • youngmix
    The argument for EV tech does not hinge upon crude oil availability, but pollutants.
    And I agree, the oil industry owns our politicians. Not just Biden, but every politician is in on it. Trump and his folks kissed up to the Saudi's more than any cabinet ever, it was a real bad look. Both parties are in on it, and thank you for putting your knowledge out here.
  • Oigit
    Eh, I'm all for us becoming energy independent, even if it means drilling for oil here. Simply because it would allow us to sever the majority of our ties with the middle east, if not all of them. It could also greatly limit the influence of countries like Russia if we established our own international stake in the oil market.
    • I don't know if it still happens, but the oil we got we exported because it was cheaper to do that than refine it. Also, whatever happened to the Alaska pipeline that they spent so much to build it on?

  • lightbulb27
    Biden admin policy primarily, money printing over time, and Russian war. Put trump in, or someone else, prices eventually drop, probably quickly, not back to $1.50.

    There's positives to this, but it is chaos getting there. Have compassion for the people in countries who are not making a "killing" in oil, for they will in all probability, be starving soon.
  • goaded
    I skipped a lot, because I know the answer. It's corporations price-gauging. The price of crude was the same in 2009-2014, but the consumer price of fuel was much lower.
    LikeDisagree 6 People
    • bademoxy

      dont know about U. S. gas prices, but here in Canuckistan, Turdo's CARBON TAX was much of the increase with recent "manufactured distraction" global events adding to our woes , which means over 2 bucks per Litre (roughly a Quart to my American cousins).
      that said , this article omits the OTHER scary factor in prices: Inflation of the Dollar (printing worthless money). If banks increase mortgage rates even to half what they did in 1981, we are truly screwed and probably headed into a World War-which may be why China (who's been in recession since Trump cut off their gravy train) had a private conversion with Russia just before the invasion of Ukraine.
      Notice that "Biding his time" just addressed Taiwan's security. That's because he HAD to. NO WAY is the industrial military complex going to allow China to invade and harvest Taiwan's western technology to challenge the USN , even if both Potato and the Hoe have to be "removed".
      WW2 happened not because of Nationalism (that was WW1) .
      It was because of the Great Depression -and China now got millions unemployed and locked down.

  • Honesttguy
    Just like with diamonds they like to make things more expensive to make more money, rest of us are just slaves and sheep that run around eating grass they farm us for profit so they can play their bs games.
    Like 1 Person
  • Likes2drive
    I’ve known about most of this already, they make more money selling it than keeping it here, eventually they will have to just keep it here when it reaches that point, we won’t run out, just have to pay more, oil companies are making a bundle right now. The people that run the country behind the scenes are doing this, Biden is just a puppet right now. We do need a cleaner alternative though for environmental reasons but they are lying to everyone
    Helpful 1 Person
  • John_Doesnt
    Gasoline companies. The main group that determines the price of gas is the oil producers. Blame them.
    Sorry gas is so expensive, we're sorry!
    Sorry gas is so expensive, we're sorry!
    LikeDisagree 2 People
  • monkeynutts
    Obviously the war in Ukraine is costly, in human lives and resources, so price inflation is a small suffering we can handle to pay for the munitions that are being sent to aid the Ukrainian defence of their country. We feel this in Australia too.
    LikeHelpful 2 People
  • RealMarek
    It’s not just government regulations, it’s actions like rescinding approved permits (Keystone XL) and cancelling legally mandated lease sales. If the government breaks its own rules and contracts, no sane company will commit billions to risky investments. Instead, they’ll pour that capital into impractical, unprofitable green tech businesses to boost their ESG scores like the big oil companies are doing now.
  • Phoenix98
    The governments.

    The US has enough raw materials and oil to not only sell to other countries but also be completely self sustaining for hundreds of years as well.

    But the government won’t utilize those resources and instead would rather be reliant on other countries.

    its not new information to those of us actually informed.
    Disagree 1 Person
  • Redhead999
    Supply and demand. Create a shortage or perceived shortage and you can charge high prices for very little.
    Like 1 Person
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