I can tell right off the bat that a lot of people aren't pleased with this and the effect it could have with raising gas prices. But is there some benefit to the economy by letting gas prices rise?
shareMore money goes to the middle east now. They can now give more to China, China can now give more to democrats to get elected. Democrats vote more to give me free money.
share"More money goes to the middle east now."
Right and when the wars end the gas prices will plummet and the only people to do that are the Democrats. However, the Saudi Crown Prince Mohammed bin Salman gave the order to murder that journalist Jamal Ahmad Khashoggi who was exposing the Saudis for corruption and since the Saudis have a huge influence on the supply of oil they tend to manipulate prices however they want to. https://en.wikipedia.org/wiki/Jamal_Khashoggi#Assassination
Never trust the oil cartel. They are the most corrupt industry in the world and most likely represent who the Deep State really is.
That won't raise gas prices because the Keystone XL pipeline was never opened and it wasn't carrying anything. It had barely been started. The only reason the oil prices dropped in the past year was because of the pandemic and the massive reduction in use in the past year. However, there are still vast swaths of oil reserves. There's what they call "floating storage" of oil tankers that have never delivered their crude floating off the coasts in the gulf of Mexico and we are still being strangled by the lack of refineries. The only reason they wanted ANOTHER leaking pipeline is because they wanted to get that oil to the refineries. If they wanted cheaper oil, which they don't because then they make less, they would build more refineries.
The Canadians have no right to be gobbling up our American land under imminent domain and that is exactly what Trump did when he gave them the Dakota Access Pipeline.
What's more is things like that have zero effect on gas prices.
It all has to do with Speculation and what the Saudis are doing. What DID raise gas prices was the Iraq war and the other ongoing wars in the middle east. When they are stopped gas will go back down to what it was before Bush, about 88 Cents per gallon.
Shale gas and oil, the kind that is coming from Canada is VERY EXPENSIVE to extract. If anything our reduction of the use of oil and gas will only cause oil and gas prices to continue to fall.
Media Goes Silent as Gas Prices Fall After Obama Crack Down On Oil Speculation
https://www.politicususa.com/2012/05/04/obama-gas-prices-fall.html
60% of today’s oil price is pure speculation
https://www.stlouisfed.org/publications/regional-economist/april-2012/when-oil-prices-jump-is-speculation-to-blame
Historically, the long-run primary driver of oil prices has been global demand.1 An expanding global economy demands more raw inputs, including oil, and that increased demand pushes up their price.
However, the past decade (2000-09) saw a rapid proliferation in the financialization of commodities, i.e., the creation and trading of financial instruments indexed to commodity prices. Estimates indicate that assets allocated to commodity index trading rose from $13 billion in 2004 to $260 billion in March 2008. Many people, including policymakers and economists, have posited that because this rapid and unprecedented growth in commodity index trading coincided with a boom in commodity prices, speculation by financial traders—and not supply and demand—drove the recent bubble in commodities.2 (See Figure 1.)
Higher gas = forcing more people to switch to alternative fuel? Maybe electricity? If the globalists are trying to phase out fossil fuel, what will happen to countries like Saudi Arabia, Iran, OPEC in general that deal in oil and such?
share"what will happen to countries like Saudi Arabia, Iran, OPEC in general that deal in oil and such?"
There will be no point in bothering about them. All the wars for oil will end and we'll become free.
Our Dependence on Foreign Oil Is Declining
http://www.whitehouse.gov/blog/2012/03/01/our-dependence-foreign-oil-declining
Must be why we are back in Syria
shareEveryone agrees California is a leftist state.
https://www.gov.ca.gov/2020/09/23/governor-newsom-announces-california-will-phase-out-gasoline-powered-cars-drastically-reduce-demand-for-fossil-fuel-in-californias-fight-against-climate-change/#:~:text=In%20the%20last%20six%20months,electric%20medium%2D%20and%20heavy%2Dduty
So Newsome wants no gas vehicles in 2035.
What he COULD have done is increase excise taxes on gasoline to the point where electric cars are cheaper than gas cars. He didn't need to do it tomorrow, next week, or next year. He could have increased it in stages, very small today, very big in 7 years (for the guy that just bought his new F-350 in 2019.) And he could get to the place he wants to be in 2035 a lot faster.
But no one wins elections advocating higher gas prices. Not even in leftist California.
It's a national security issue.
I hate to trigger you snowflakes, but it's not a kum-bay-yah world. We may end up needing to defend ourselves, and we're going to need the oil that's close to us.
It's why we have the Strategic Petroleum Reserve.
If you want to drive your F-350 2 blocks to the liquor store to buy your Skoal and Cheeto's and gay porn mags, move to Kuwait.
Clinton jacked up the excise tax on gasoline pretty high in 1993.
I've never heard the mattress salesmen bitch about that.
Since then GOP has controlled DC 8 years, 6 under Bush, 2 under Trump.
Tax is still there.
Gas prices were low AF during Clinton. We all wish for a return to the 90s when oil prices were 88 cents a gallon and cars didn't have touch screens.
shareYep. I remember in 1999 I paid $0.99 a gallon for a short time in Los Angeles.
You can't buy a regular new cheap car with hand crank windows and a key that doesn't beep. I bought a new low end SUV a few years ago, there's no lock on the back hatch. I dread the day that fails.
So what do you think is raising the gas prices?
I think it is pure manipulation, like most of the stock market.
There is a huge glut of oil on the market and over-production,
so why on Earth would prices be going up?
Just to punish citizens to get them to think that beginning to
scrutinize and regulate the rip-off petrochemical industry is
a terrible thing to do. That's nonsense.