President Biden and Democrats have a plan for American energy: make it harder to produce and more expensive to purchase

Vambram said:

I'm not going to keep on repeating myself about Biden's policies and Executive Orders, Executive actions that he did regarding oil and energy. If you don't know what his administration has done, even after that has been shown, then repeating myself is a waste of my time.

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We all know what he’s done. You’re hardly the first conservative to post a list of things Biden (or Obama) did to tick off the petroleum industry. But what you and all of your predecessors have failed to do is actually demonstrate how these policies have impacted oil prices beyond vague innuendos.

To put a finer point on it: it’s quite clear that none of you really understand the subject, and that you’re just regurgitating propaganda. None of it is ever even new - it’s all the same stuff over and over again. When I go read stuff about the machinations of the oil business, written by professionals within the field, they talk about a host of factors that have completely escaped all of you.

Vambram said:

Your own photo graphics there shows a trend of gasoline prices generally increasing faster than the inflation index when Bush, Obama, and Biden were president. Granted, this cannot only be factually blamed only on presidential administration policies. However, there is also no doubt that by looking at the general trends of gasoline (oil barrel) prices that government policies do indeed make a significant impact upon those prices.

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Which Biden administration policies, specifically, are having a "significant impact" on oil prices? Are these policies having a greater, lesser or similar impact to oil & gas industry decisions on pricing when you look at refinery capacity, field exploitation and/or stock dividends and buybacks?

Vambram said:

Oil and gasoline prices rose when American oil corporations were producing more product to meet the demand for more oil and gasoline from European and also American businesses and consumers. The supply was having trouble keeping up with demand.

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It's not though.

The US is now at it's greatest ever production volume of oil and fossil fuel products.

It's also reached the greatest ever surplus when it comes to liquid fuels production vs consumption. The US is currently exporting an average of 2.5 million barrels per day of oil (average for the first week of May). That's up from exports of 2.0 million at the same point in 2023, 1.5 million in 2022 and net imports of 0.1 million per day in 2021.

As of April, the US needed about 19.75 million barrels of liquid fuels (oil, LNG and biofuels) per day. It was producing 21.25 million barrels in the same month.

Yes, there's still a crude shortfall - but even there that gap is closing. In April 2019 the crude consumption/production gap was 8.25 million barrels. In April 2024 the gap was 6.62 million barrels.

Gene2memE said:

Which Biden administration policies, specifically, are having a "significant impact" on oil prices? Are these policies having a greater, lesser or similar impact to oil & gas industry decisions on pricing when you look at refinery capacity, field exploitation and/or stock dividends and buybacks?



It's not though.

The US is now at it's greatest ever production volume of oil and fossil fuel products.

It's also reached the greatest ever surplus when it comes to liquid fuels production vs consumption. The US is currently exporting an average of 2.5 million barrels per day of oil (average for the first week of May). That's up from exports of 2.0 million at the same point in 2023, 1.5 million in 2022 and net imports of 0.1 million per day in 2021.

As of April, the US needed about 19.75 million barrels of liquid fuels (oil, LNG and biofuels) per day. It was producing 21.25 million barrels in the same month.

Yes, there's still a crude shortfall - but even there that gap is closing. In April 2019 the crude consumption/production gap was 8.25 million barrels. In April 2024 the gap was 6.62 million barrels.

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Your understanding of economics and inflation is grossly flawed.

/s

Vambram said:

I believe that this post shows why some of us will never agree about this topic, or similar topics.

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I agree. No amount of vibes from your side are going to convince those of us who like squiggly lines and evidence.

Vambram said:

Oil and gasoline prices rose when American oil corporations were producing more product to meet the demand for more oil and gasoline from European and also American businesses and consumers. The supply was having trouble keeping up with demand.

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Actually, this is false. American oil corporations were not producing more product to meet demand, instead, they were limiting their oil and gas production to specifically make a profit and earn back the losses they had suffered during COVID. It was these oil companies, both the American companies and OPEC, that specifically were limited gasoline so that it would not meet demand that created the price increases -- not anything Biden may have done.

More to the point, you keep talking about how Biden didn't allow new wells offshore and in the Arctic Wildlife Reserve, and how he blocked Keystone XL -- but none of those affected oil prices in 2021 or 2022. It takes years, at least five and frequently as long as a decade to go from where a lease is auctioned until there are functioning wells on that land, and the same with Keystone XL -- it would have been a few years before it was ready to send oil to the gulf (at which point, the vast majority would be shipped overseas since it was to transport Heavy Crude and not the Light Crude we refine here in the US, as this thread mentioned).

Vambram said:

And no amount of evidence and facts from my side will ever change your opinion on this topic and other similar topics.

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How would you know? You guys rarely present any.

Vambram said:

Your own photo graphics there shows a trend of gasoline prices generally increasing faster than the inflation index when Bush, Obama, and Biden were president.

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It's not a "photo graphics", it is a line plot. It also doesn't show the rate relative to inflation because it doesn't plot the data either in inflation adjusted dollars, nor does it show a line indicating the trend of inflation. If you want that comparison you'll need a plot that shows that data.

Vambram said:

Granted, this cannot only be factually blamed only on presidential administration policies. However, there is also no doubt that by looking at the general trends of gasoline (oil barrel) prices that government policies do indeed make a significant impact upon those prices.

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Just saying it doesn't make it so. There is actual economic analysis of the impact of government policies, etc. on the price of various things, inflation rates, etc., just saying "there is no doubt" about your "looking" at the trends doesn't make any such thing so. You can make this case and we will consider it, but not based on your "no doubt" "look" but on actual data and detailed economic analysis.

Vambram said:

Please provide the evidence for this post. Thank you.

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It's all freely available through the US Energy Information Administration.

Weekly Petroleum Balance Sheet: www.eia.gov/petroleum/supply/weekly/pdf/table1.pdf&ved=2ahUKEwjtyYnu546GAxWjlK8BHenwD_kQFnoECBMQAQ&usg=AOvVaw2PkHNIB-NEMQHyoJvZJvI5

Weekly Petroleum Report: Weekly Petroleum Status Report - U.S. Energy Information Administration (EIA)

Short-term energy outlook: https://www.eia.gov/outlooks/steo/pdf/steo_full.pdf

Vambram said:

Please provide the evidence for this post. Thank you.

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We'll both be interested in reading the links given in the post above. But don't forget to answer the questions that you were asked. With, you know, evidence.

Vambram said:

Is there evidence that doesn't require a research statistical analysis from a layman? I am a busy man and don't have enough time to dive into detailed spreadsheets.

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So where will you be getting your evidence from? You know, the evidence that you'll be using to answer the questions you were asked.

Vambram said:

Is there more evidence from non-governmental sources?

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What's wrong with a government source? Collecting statistics on energy is whole purpose of the EIA.

Edit to add: The EIA was created in 1977 as part of the creation of the DoE. It is not a "green new deal" agency or a "climate change" agency.

Vambram said:

Perhaps there are facts and evidence from non-governmental websites and from news sources that don't support the climate change new green deal agendas.

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Then off you go and find some that will help you answer those questions. Show us your workings.

Vambram said:

Is there evidence that doesn't require a research statistical analysis from a layman? I am a busy man and don't have enough time to dive into detailed spreadsheets.

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Hahahaha

Vambram said:

Perhaps there are facts and evidence from non-governmental websites and from news sources that don't support the climate change new green deal agendas.

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Interesting how quickly we've gone from accusations that no amount of facts will convince people who don't agree with the right wing view to begging those people to please find facts which support the right wing view.