Showing posts with label OPEC. Show all posts
Showing posts with label OPEC. Show all posts

Saturday, May 14, 2022

Why is Gas so High?

For those Americans who are foolishly claiming that the skyrocketing price of oil is Putin's fault, here is some news for you - it is entirely the Biden administration's fault. When he took office, gasoline was $1.69 a gallon in my town, it is now $4.55 per gallon while Diesel is $5.55 per gallon. We need plenty of affordable gasoline and Diesel to run our complex and very large economy.

He closed oil leases, fracking, offshore drilling, and the XL pipeline which was delivering gas from Canada. He did this on day one and the price of gas started to escalate immediately. Crude oil is being transported by rail (powered with electricity created with Diesel and coal) instead of the much cheaper pipelines which crisscross our country from Alberta, Canada and other places.

It was Biden's plan all along to destroy the fossil fuel industry in order to replace it with the pie-in-the-sky green energy delivered by expensive, inadequate, and insufficient solar and wind power.

The U.S. became overnight an oil importer again instead of an oil exporter as it had been under the Trump administration.

OPEC took advantage of this situation of a weak and partisan president and refused to increase production, thus further escalating the price of crude oil per barrel.

Speculators entered the fray and affected the futures price as well on the Chicago Board of Trade. This often happens when the political climate is poor, people fear their incompetent government, and the future looks bleak.

The fact that Democrats and some Republicans have voted to print dollars without any backing of goods and services, creating high inflation, highest in forty years, and then spending trillions of dollars we don't have, like drunken sailors, has devalued our U.S. dollar which is the currency in which crude oil is priced and quoted around the globe.

Supply and demand for crude oil, gas, and Diesel are also out of whack due to the economic effects of the lockdowns and other labor and economic decisions made by U.S. corrupt politicians, further exacerbating the price increases.

One caller to the WMAL station in Washington, D.C. area, stated on Friday that she has 7 children and must fill up the van with gasoline every four days. Each time it cost $100. This translates into $750 a month just for gasoline. Middle class Americans must decide whether they eat, drive their cars, or pay their mortgages/rent.

This terrible economy is entirely Biden's fault and the fault of those who voted for him and thus for the destruction of our economy.

Your unwise vote is putting most of the middle class in a poor house filled with shortages and high inflation. The economic and energy situations are quite dire.