Of course you would pick up on that one point out of the whole article and ignore the rest as if that’s the only reason gas prices are high. Lol. Infrastructure problems and relaxed environmental standards under the prior administration did nothing apparently to make us independent from foreign oil. Biden’s only been in office one year and these problems preceded him. What about these points from the article:

But remember that oil is bought and shipped around the world through a global commodities market. So in that sense it doesn't really matter who specifically is getting crunched by the loss of Russian oil, because lower supply affects those global prices no matter what. And as we know from Econ 101, when there's less supply of an item in demand, prices rise.

When pandemic-related stay-at-home orders around the world crushed demand for oil in the spring of 2020, oil plunged, briefly trading at negative prices. OPEC and its allies, including Russia, agreed to slash production as a way to support prices. Even when demand returned sooner than expected, they kept production levels low.

Oil and gas companies do not want to drill more," said Pavel Molchanov, an analyst at Raymond James. "They are under pressure from the financial community to pay more dividends, to do more share buybacks instead of the proverbial 'drill baby drill,' which is the way they would have done things 10 years ago. Corporate strategy has fundamentally changed."

Quite frankly, maybe it’s time to wean off the oil and gas since it’s not ONLY the prospect of tighter environmental regulation which IMO is not a bad thing. Who’s against a cleaner environment?

State and federal environmental rules are prompting some refineries to switch from oil to lower carbon renewable fuels. And some companies are closing older refineries rather than invest the money it would cost to retool to keep them operating, especially with massive new refineries set to open overseas in Asia, the Middle East and Africa in 2023."

Oil stocks have generally lagged the broader market over the last two years, at least until the recent run-up in prices. Oil company executives wanted to redirect cash to buying back stock and other ways to help their share price rather than increase production.

And major US refineries have yet to return to full operation after two were damaged by hurricanes last year and another by an explosion.

These are problems that will not be remedied by opening another segment of Keystone. It’s simplistic to say, it’s all Biden’s fault. Not only that, but if people had cooperated with measures meant to get us out of the grip of COVID sooner maybe there would have been less of a problem with staffing and supply chain issues as well. We stand at a pivotal moment in history.

Wasn’t that the point of the Infrastructure bill which passed with bi-partisan support as to helping us provide alternate energy sources? As stated in regards to this….

‘Upgrade our power infrastructure to deliver clean, reliable energy across the country and deploy cutting-edge energy technology to achieve a zero-emissions future. According to the Department of Energy, power outages cost the U.S. economy up to $70 billion annually. The Bipartisan Infrastructure Deal’s more than $65 billion investment includes the largest investment in clean energy transmission and grid in American history. It will upgrade our power infrastructure, by building thousands of miles of new, resilient transmission lines to facilitate the expansion of renewables and clean energy, while lowering costs. And it will fund new programs to support the development, demonstration, and deployment of cutting-edge clean energy technologies to accelerate our transition to a zero-emission economy.’
https://www.whitehouse.gov/briefing...act-sheet-the-bipartisan-infrastructure-deal/

There’s always going to be some oil and gas consumption but let’s start going forward rather than keep regressing. Provided Putin doesn’t push us into WWIII, which will upset the whole apple cart, we should come out better. In the meantime people gonna bitch.

 

Oh Mo, lol Madness???? You're becoming the forum's Larry David, lol!



No one's asking them to invent the wheel. Don't tell me they don't already have the technology to create new means of energy delivery. They have scientists and engineers working for them, right? You mean to say they haven't planned for a future where traditional oil and gas will go the way of coal? They have the money to invest in plants all over the country. Of course it starts out small but that's the way it is when new technologies develop. They exist simultaneously until the new phases out the old. Just start already.

 

Very little shocks me anymore but it really disappointed me to see Larry David shilling for crypto. The guy is not one of these celebrities short on cash. His net worth is almost half a billion and whenever he feels like doing another season of Curb Your Enthusiasm, HBO is ready to go.

 

Well put Purr. From some reason i cant quote posts anymore. Mo you are acting like Dems want to shut off oil with no alternatives ready. NO ONE is suggesting that. The transition to clean energy involves PROGRESSING towards it. Flat out rejecting it then claiming its not ready is big oil propaganda. Obama pointed us in the right direction and the orange menace rolled back initiatives. Republicans demand we stay reliant on oil and are now somehow blaming Biden for us being reliant on oil. What? Im pretty sure we were using oil before Biden took office. Oil companies can take cues from the Presidents decisions but are ultimately responsible for their own. Labor shortage is one issue but if they haven’t upgraded their facilities or built new refineries for decades, that means they didn’t do that under the oil friendly rump either. Sounds less like reacting to a guy who’s only been in office for a year and more like blaming him for their poor planning. They chased short term profits instead of long term infrastructure. It bit them on the ass.


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“We have to set sort of guide rails down now, so between the years 2021 and 2030, it’s irreversible – the path we set ourselves on,” he claimed. “One of which is doing away with any substance for fossil fuels – number one.”

“Number two, holding them liable for what they have done,” Biden said of those executives helping to provide the leading source of fuel in our nation.
“Particularly in those cases where your underserved neighborhoods and – you know the deal, okay. And by the way, when they don’t want to deliver, put them in jail,” he said, adding, “I’m not joking about this.”


From your article Mo. Biden’s words. Set an irreversible path over the next nine years to move away from fossil fuels. Arrest oil execs who don’t comply. He doesn’t say all fossil fuels stop in nine years just set the path for the eventuality. Hold execs accountable if they refuse to “deliver”. I’m taking that as meeting benchmarks like the ones Obama set. All very reasonable.


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Dump also increased rent to green energy sources on public land while giving rent breaks to oil companies on public land. Nobody was saying Republicans couldn’t get elected before him. HE was saying it and of course proved himself wrong by getting elected. Now Republicans and changing voting laws so they can change the results if they lose. They are literally trying to appoint Republicans to oversee which gets get thrown out in at the state level.


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I'm not convinced to go into crypto because of this advertisement but it made me laugh just the same. There must be big money in commercials since I see a lot of big names making them. Colin Jost and Scarlett Johansson's 'if Alexa could read minds' was pretty funny too.

 

Oh yeah, it was an extremely well done, funny commercial. That had to be a big money too because there were numerous scenes with different time periods etc. Had to take a long time to complete.

 

Lol. I do have trouble with english when I’m tired even though its my native tongue. Do away and move away are saying the same thing in this instance. No longer use fossil fuels. We can agree thats what he’s saying right? But you keep injecting an immediate cut off date which he in no way does. Arresting execs that don’t comply with regulations. Thats kind of how laws work. Even now, If a company violates emissions laws they are fined. If they are ordered to violate emissions standards by an executive, the executive is held legally accountable.


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I was trying to link an article with that postI. I was having trouble posting anything at that time. I will see if i can find it again.


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Or they could invest in the future by developing green energy but they cant export that. They could of as you said built refineries over the last 77 years when there was a republican president but they didn’t. They painted themselves into a corner. They will wait for the next Republican president and continue to do business as usual. Biden isn’t the first Democratic president.


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