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Gas Prices Have Fallen for 50 Straight Days, Approach $4 a Gallon


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26 minutes ago, Snake said:

No blame when it goes up, all credit when it comes down... :lol:

We have been told EXTENSIVELY... the President has no control over gas prices.

BS he caused it ,, he s selling the str oil reserves as we breath and walk,, 

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18 minutes ago, polaris7541 said:

BS he caused it ,, he s selling the str oil reserves as we breath and walk,, 

True. This oil is being sold in the same way all domestic and foreign oil is sold and distributed. On the market. The US government is not in the business of distributing and refining oil. It makes a lot of sense to sell the strategic oil reserves now at these super high prices. Every barrel that’s sold is double or triple it’s purchase price 

Edited by spin_dry
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1 hour ago, Carlos Danger said:

Prices approaching double what they were the day he took office.....thank you Joe Biden   (kisses ring and bows)

It was 3.68 in 2008 when Bush was president. So it’s where it’s at 14 years ago. 

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4 minutes ago, sleepybrew said:

exactly. besides it was putin's fault, shouldn't he get the credit?

Factually the disruption of NG and CO from Russia does affect the world market.

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1 minute ago, Carlos Danger said:

Meanwhile Biden admin not fulfilling drilling leases in ANWAR and other federal lands. 

Meanwhile exporting a record 303 million BPD and now the greatest exporter of LNG.

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Just now, 1jkw said:

Meanwhile exporting a record 303 million BPD and now the greatest exporter of LNG.

You credit that to Biden?  Seems like that would be from policy set years ago when an administration had some for thought to drill for oil and gas. Biden's war on oil will hit us just about the time his re election rolls around 

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Fact is prices are falling because people are traveling less with fuel and other inflationary factors.   Not hard to figure out why prices are falling and it isn't because of releases from the SPR.  US uses 20 million bpd.   Biden is releasing 90 million barrels over 3 months.   About 1 million bpd or 5% of our usage.  The only impact on prices would be about 5% on international oil market prices.   The world has cut back its usage.    

Edited by Highmark
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35 minutes ago, Carlos Danger said:

You credit that to Biden?  Seems like that would be from policy set years ago when an administration had some for thought to drill for oil and gas. Biden's war on oil will hit us just about the time his re election rolls around 

No, I don't. But it doesn't change the fact crude prices are high due to world supply and just because US crude is being pumped out at record levels and the same for LNG cuts in supply from other countries and lack of refining capabilities in the US keep the price up.

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35 minutes ago, Highmark said:

Fact is prices are falling because people are traveling less with fuel and other inflationary factors.   Not hard to figure out why prices are falling and it isn't because of releases from the SPR.  US uses 20 million bpd.   Biden is releasing 90 million barrels over 3 months.   About 1 million bpd or 5% of our usage.  The only impact on prices would be about 5% on international oil market prices.   The world has cut back its usage.    

Crude supply has increased in the US since the pandemic shutdowns in the oil industry, had Biden not pissed off the Saudi's (who basically run OPEC) and we didn't have the Ukraine situation things would be much better. Another Russia SA price war would help too.

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