The last increase in drilling lead to low crude prices that caused financial problems for the drillers. Part of the issue then was that investors wanted high production numbers, but there are infrastructure issues that have yet to be addressed in refining that have yet to be addressed for the US to support another fracking boom. Discussed here, Impending Record U.S. Crude Oil Production | PriusChat
Especially when pipelines "in progress" are shut down, fracking is is restricted and the "Green New Deal" is being pushed. Dance all you want...but everyone knew gas prices were going up if Biden won...even you guys.
Everyone knew that gas prices were going up to pre-pandemic levels during an economic recovery even if P45 won. Unfortunately, GasBuddy's charts don't go back to the mid-Bush Administration and post-Katrina prices:
Things that never existed and ceased work in June 2020 are out of scope Fracking and exploration all but Stopped February 2020, also out of scope We have charging and solar initiatives alongside a potential subsidy Actual Green New Deal appears to be 3 years off and even then...
Really? So President Biden didn't sign an EO to stop the pipeline from Canada and stop fracking on Federal lands to name a few? Greener is coming, but you don't kill the horse before you put a motor in the cart.
exploding? 3 bucks around here without even shopping. what's that in 1970 dollars? i would call 10/g an explosion
So...the 'Biden did it' excuse. Please...perhaps the weakest excuse for an excuse I've heard in a while...lol. Try doing at least a tidbit of research before doing the 'Biden did it' thing....you will gain at least a little respect that way. Here is one example...of thousands and thousands of articles out there... PolitiFact | Are gas prices going up? And is it Joe Biden’s fault? Hot take: Pandemic recovery coupled with a slow recovery by pandemic affected oil companies is the main instigator...And personally, I have seen a LOT more vehicles out and about..i.e. - supply and demand, bud...
Of the so called 1000 pipeline workers only 50 were working on keystone xl in June 2020 No real progress was made during 2020 so Biden more or less shot a horse with 4 broken legs Even if we allowed the pipeline it would only enable us to export our more desirable light crude at a higher price while importing heavy crude for processing Overall the consumer would not likely see any benefit in price at the pump and could have actually saw a slight bump in price only Canada would benefit from the pipeline
They're going to blame him even worse for the gas shortages this summer because of something that's been simmering for years and got much worse due to the pandemic last year, well before he even got to the White House. The fuel tanker industry was already short drivers when the pandemic hit. There was a large exodus from the industry when the pandemic led to low demand last year. Now they're short over 20-25% of the specially certified drivers they need to get the gas from refineries to local stations. Gas prices are expected to rise due to the truck driver shortage | Ars Technica
The world economy is recovering from COVID. Gas prices are rising around the globe. Typical gas prices per gallon in U.S. dollars today: Hong Kong $7.12 Norway $7.04 Netherlands $6.93 Italy $6.44 UK $5.79 Alaska $3.15 U.S. Average $2.90 Alabama $2.63 Kuwait $0.78 Venezuela $0.12 I am sure that the top 5 countries on this list would love to have our problem.
Yes we would, and please cite your source , 'cause normallized gasprice (when converted for $ and gallon) is 8.62$/USGallon for the most basic 95RON (10% alcohol) in Netherlands. Cheapest I can get it is about 7.76$ (Math check: 1.89€ per litre is 1.89€*3.785liters/gallon= 7.15€/gallon. Current exchange 83€ct/$. So 7.15/.83 = 8.62$/gallon)
Yeah, but hey.....you get to be Dutch(*), riiiight? Your people get all kinds of 'free' stuff, and you don't have to worry about people like ME sitting next to you on the train with a concealed weapon.... ...and no crime! ...and no poverty or political strife! (*) Or is it Netherlander? Why Are People From The Netherlands Called Dutch? - Dictionary.com
Alberta oil production history (mostly from tar sands): Oil Production US oil production history (recently boosted by fracking): United States Crude Oil Production | 1950-2021 Data | 2022-2023 Forecast | Historical It is no doubt possible for some to suppose that recent dip in first is caused by Keystone XL stoppage. That recent dip in second is caused by new fracking limitations on federal lands. Both of those are 'forward looking' and have not stopped any existing production or transport paths. But those are problems to be faced by those so supposing. Others will realize that demand for petroleum distillates is an important factor. In any case, motivated reasoning is a thing that one can try to avoid, or to joyfully embrace. == Perhaps the thing to look for is future US refinery outputs. If they decrease while product demand (fuel prices) rise, it seems fair to conclude that they are 'starved' for inputs. So look to gasbuddy and eia.gov, 'down the road'.
The US refineries on the Gulf coast are designed for heavy, sour crude, which is imported from Venezuela and other places. US fracked oil is light, sweet crude. The refineries can process that at a reduced efficiency, but even them it might have to be mixed with the heavier crude. So the refineries don't want it, and only take it when the drillers discount it.
