U.S. Rep. Glenn Thompson’s recent missive from Washington blames President Biden for the price of gasoline. In it he displayed the partisan hyperbole that has taken over governance.
Perhaps, Mr. Thompson should do some research. No U.S. president can really affect the price of oil. The price is the result of a global economy, not a national or regional market; driven be worldwide supply and demand cycles. Maybe he is proposing to isolate the U.S. from the world market. However, not all oil is the same; we export and import as needed. If the U.S. were isolated from global trading we would likely have a shortage of gasoline and higher prices.
Mr. Thompson seems to think that drilling today equals gasoline tomorrow. Perhaps some facts would help. First, oil and gas companies already have 26 million acres of leases on federal lands; of these, 50 % have never been drilled. Second, only 20 % of the 12 million offshore acres leased has had any drilling. Third, there are over 9,000 federal drilling permits approved, but not used.
Mr. Thompson blames the sudden increases on President Biden. But he forgets that for the last two years people across the globe were not driving, airlines were not flying, and trucks, trains, and ships were not moving driving the price down by 50%. We are recovering, usage has returned and global supply is now short.Note to readers: if you purchase something through one of our affiliate links we may earn a commission.
Lie
Let's go Brandon
No, but they can allow drilling and open pipe lines. We were selling oil 3 yrs ago!
This gonna make the MAGAe cray cray.
True , but they can help the country become energy independent.
That is 100 % correct. However, American presidents can always the usa to produce our own oil, witch intern would lower the price of gas significantly. That's what this president will not do. He'd rather break the people that make up the majority of this country.
Given the Saudis gave Kushner $2B and Mnuchin $1B, the Saudis can afford to drop their oil prices.
Take this excerpt from a survey of oil executives on why more drilling isn't occurring.... 'Even if other factors are causing slow growth, several executives said in the comments section of the survey that political pressure—from the federal or state government—was hurting the...
The author seems to ignore that Biden's policies denigrating fossil fuel production, appointment of activist regulators who deny permits for roads, pipelines and methods to transport extracted oil coupled with statements about intentions to put oil companies out of business only
Excuses are for people who have no problem-solving skills like our Geriatric President.
BS. He stopped the XL pipeline from Canada oil fields and sands and stopped natural gas pipelines from Pennsylvania. He stopped issuing drilling permits on all federal lands and in the Gulf of Mexico. They have made it impossible to build/expand refineries due to regulations.
What a sad excuse for a leader
Your right but they can control American oil prices through there policies. Hence $2.23 average under trump and America first policy
Maybe all true but all presidents get credit or blame for the state of economy.
The national average for gasoline hits $5/gallon for the very first time, 6/11/22. The previous record high before Biden took office was $4.11/gallon in the summer of 2008. .JoeBiden policies did this…NOT Russia, NOT Ukraine, NOT OPEC.
Uh huh, Can the morons tell the readers why inflation is higher in the US ... and why in fact gas is cheaper in other countries? BTW, if producing oil in your home country you CAN control the price. Eco. 101 Energy independent 2 years ago The 💩 continues,
Aren’t you tired from carrying that water?