Has Biden acted to reduce gas prices only because of the midterm elections? If so, do you expect gas prices to start rising after the election?

Question

"In 2020, when gas prices were low under Trump, Biden publicly “guaranteed” he’d completely “end fossil fuel.” Debating Trump, he said he’d “transition” the oil industry to death. As late as this May, he cheered the soaring gas costs clobbering motorists: “We’ll be less reliant on fossil fuels when this is all over.” https://nypost.com/2022/10/16/biden-wants-high-gas-prices-he-just-doesnt-want-voters-to-notice/

Rising gas prices have been accompanied by plummeting approval ratings for the president and those ratings will have an effect on the mid-term elections. https://slate.com/news-and-politics/2022/10/gas-prices-biden-approval-rating-midterms-democrats.html

In June, President Biden said that there was little he could do to bring down the price of gasoline. https://www.cnn.com/2022/06/01/politics/joe-biden-gas-food-prices/index.html Less that two months later, his team was taking credit for falling gas prices.

Do you think the current administration has acted to reduce gas prices only because of the midterm election next week? If so, do you expect gas prices to rise again as soon as the election is concluded?

Massageman · Accepted Answer

It's too bad that obama and his bidenpuppet had to sacrifice about 70% (the last number I heard) of the Strategic Stockpile (SPR) to facilitate this charade of theirs, ie, that things are just hunky-dory. Pinched from every direction geographically, ideologically and just about every other "-- cally" imaginable, and they're playing their little games with OUR lives and OUR livelihoods. Oh, and not to mention the nations' SOVEREIGNTY!

The current regime had TRIPLED the cost of gasoline. And now they are SOOOOOOOO condescending, pointing out that they have brought the cost of gas "all the way down" (to only TWICE what it was when they took office). Even my grandson knows that is really DOUBLING the cost of gas, NOT a 33% decrease as perpetuated by the WH, no, but correctly pegged at DOUBLING the cost of gas to the consumer - - - - and don't forget the state taxes, too.

lightbulb27 · Accepted Answer

Yes govt always manipulate around election time no matter whom is in office. His admin is doing so, probably via market actors at fed or plunge protection team.

At minimum, he's pulling from SPR and that cannot be sustained, at some point, that is stopped and price goes up relative to that. Also, states have waived taxes... for now, that's not sustainable when they don't cut budgets. So price goes up at some point.

Price only goes down if economy slows down again substantially. I'd expect higher prices indefinitely as that is what they want... to justify switch to electric.

Anonymous · Answer

Of course is is, and they will go up. He's be releasing barrels from our strategic reserves. And the countries he been begging to increase production are lowering it. So after the midterms he'll stop releasing from the reserves (or he'll have it empty then, not sure where they stand now.) And price will go up. But rather than let use drill for the resources we have in our own country he'll say. "See told you we need off fossil fuel." He knows we are no where near ready for that. He care more about the craziest parts of his party's woke (bull crap) agenda than he ever would about us.

DJB72 · Answer

Biden doesn't set the price of oil per barrel. That's what determines the price at the pump.

Most petrol originates as crude from the Middle East. OPEC controls the prices by restricting the amount produced. Individual countries can reduce impact by selling their reserves but sooner or later the OPEC price has to be paid.

Basically the Saudi literally has the world over a barrel.

Introduction of renewable resources like biofuels for diesel can help reduce the impact but in a country so resistant to change like America the price at the pump is going to be the issue.

Hydrogen cells, electric cars and hybrids will need to be made more readily available at prices comparable to the $2/gallon America wants despite most of the developed world paying over $4 already

AndrésC64 · Answer

It's actually scary and depressing to see how many people on here that think that the president of the United States controls global crude oil prices. 🤦🏼‍♂️🤦🏼‍♂️ Maybe there's this thing called covid and all the effects that it has caused. Maybe there's a war going on.

Anonymous · Answer

I'm pretty sure I watched the video president (or maybe it was the chick with the short reddish hair- I can't remember), fully admitting that has prices would go up after the election because it "has to get worse before it can get better".

hahahmm · Answer

Yes. But not only that it could be that Saudis + Russia will decide to make the price go up before the election & they have the power to do that. The strange thing about all of this is that you look up which countries have the most buried untapped oil it is the U. S. by far... but we act like beggars and pretend we need the rest of the world for oil.

Jdjfjcjj · Answer

Oil is a commodity that nearly every human relies on. Even if he was "manipulating" the price, which he isn't because he doesn't set the price, if price decreased here, exporters would just send their oil to localities willing to pay more.

He can do certain things that might have a temporary impact but it'll have a negative unintended consequence later. For example, he tells the market at what price he intends to start refilling the strategic reserve. He's basically just put a floor on the price of oil now I'm doing so.

Aerissa_Jade · Answer

Totally political, there is no reason to release from the emergency reserves. While it may not do much for the end price, it does have a little bit of a effect.

Something designed for emergencies, such as war or natural disasters is being used to lower prices before an election. What emergency is there?

Oh right the one that Biden created himself when his day 1 EO's shut down so much energy production.

Even though some of it has been undone, oil companies are leery to invest because they don't know what future changes will happen that will cost them millions in lost revenue.

Democrats are too unpredictable.

ManOnFire · Answer

I voted B. But I do think the Republicans are going to end up sweeping the midterms. I'm a Democrat and even I know the party has not done well these last few years, Biden being the worst. Plus we have class clowns like AOC who can't keep her stupid thoughts to herself.

So I don't think anything Biden is trying to do now will help dems in midterms, no.

Fireguy17 · Answer

He has also said that gas was over 5 bucks a gallon when he took office and now it is lower.

Gas was in the low 2 bucks a gallon when he took office.

Don't politicians understand that it is so easy to fact check them?

And yes oil prices will go up after the mid term elections.

Avicenna · Answer

Of course. Don't forget that demand has likely fallen along with consumer spending thanks to the rise in interest rates caused primarily by Biden's efforts to destroy the fossil fuels industries.

AviatorTom · Answer

Biden is a politician and politicians almost always make decisions for political gain. Of course, he's hoping that taking steps to reduce the price of gas might help the Democrats in the mid-term elections.

MCheetah · Answer

Option E - "Yes, the price of gas is being manipulated for political purposes and I don't know if the price won't go up after the election."

Summeroflove · Answer

Oh wait. He cut off the Keystone pipeline. Now he wants this war with Russia. And he defends it…. Like. We have higher gas prices. I’m a good president.

HighValue · Answer

It is still triple the price where I live compared to when Trump was in. The democrats aren't dumb, they just hate America and want us to suffer and die.

Pudsmucker · Answer

President Biden deliberately caused the price of gas to raise by threatening to remove petroleum products from the public's use. President Biden's deliberately trying to ruin the American economy.

exitseven · Answer

The price is already going back up. It is almost up to 4 bucks a gallon. Biden couldn't even figure out how to get this right.

Evil_Chuck · Answer

The President of the United States doesn't set the gas prices.

Anonymous · Answer

gas prices are NOT going down on the west coast. ours is still about $5 and no i'm not in california. so while it may be all sunshine and rainbows over there, biden isn't doing shit.

Msputiton · Answer

I yet to see one thing a politician has done that wasn't to benefit themselves

Andres77 · Answer

stock up on rice and beans and TP before the election. things are about to get dicey real quick

Has Biden acted to reduce gas prices only because of the midterm elections? If so, do you expect gas prices to start rising after the election?

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