nwtk2007 Loc: Texas

Wall Street Journal: On his first day in office, Mr. Biden canceled the Keystone XL pipeline and halted new leases in Alaska’s Arctic National Wildlife Refuge. A week later, he banned new oil and gas leases on federal lands and waters, and in June he shut down exploration on existing leases in ANWR. In October, he increased the regulatory burdens on building pipelines and other infrastructure. This February he limited leasing in Alaska’s National Petroleum Reserve. At every turn Team Biden has worked to restrict and reduce domestic oil and gas production. Team Biden got what it wanted: Daily U.S. oil production dropped from 12.29 million barrels in 2019 to an estimated 11.85 million in 2022, well after demand had rebounded from the p******c. Mr. Biden blames Vladimir Putin, but prices rose quite a bit before Russia invaded Ukraine. In January 2021, the average price of regular gasoline was $2.33 a gallon. By February 2022, it was up to $3.52. As of May, the average price was $4.44; so 56% of that price rise predated the invasion.

RNC Research: “Since day one, President Biden has tried to limit f****l f**ls supplies — and we’re all paying for it. Do you dispute?” Top Biden energy advisor Amos Hochstein laughs, then admits they’re working to “accelerate the t***sition.”

Townhall: GRANHOLM: “As long as our nation remains overly reliant on oil and f****l f**ls, we’ll feel these price shocks again…the only way out…is diversifying our fuel sources by deploying clean energy.”

And this is just the tip of the iceberg. All of these actions have driven oil investors away. Why invest in something that is going to become less valuable??

Let us not forget!!

JFlorio Loc: Seminole Florida

What's not being referenced enough is the oil market is a futures market. When this administration ran on ending oil production those statements are priced in. Oil drilling is a long term investment. Much of their exploration and drilling is financed by Wall Street firms. many of these 'woke" companies will no longer pour funds into what they see as an industry being smothered by government.

nwtk2007 Loc: Texas

That's pretty much true of most who put money into oil. Just wait until the grid starts collapsing when everyone gets home from work in the evening and plug in their cars at the same time. And just wait until the gov figures out they are losing revenue from less gas taxes.

elledee

Every bit of the rise in gas prices fall squarely on the back of the creepy Conner and thief

nwtk2007 Loc: Texas