Oil Price Increases After Biden Shuts Down Drilling Permits Again

[Fernando]

Gasoline prices are likely to firm up unless crude prices fall. They will continue to be much higher than when Biden took office. And it looks like oil will remain in a trading range from maybe $85-110 a bbl. futures prices - spot prices being more volatile. Meanwhile our Strategic Oil Reserve is depleted to levels not seen since it started. And thus will be useless to us if China is to invade Taiwan.

It was inevitable that oil prices go up after Biden because world economy recovering from Covid. As Covid becomes less of problem, people want to spend so inflation goes up. It's how the free market works.

An invasion of Taiwan would be disastrous to us. They are home to the largest chip maker in the world. They are a significant source of refining, petrochemicals, and information technology. That is a huge plum to pluck off the tree by China. And there isn't a thing we can do to stop them short of a nuclear exchange. And like Russian oil, within a few months, "sanctions" will have about as much impact as having school children write letters telling them to stop.

Taiwan won't be invaded by China. By not happening, world economy benefits us and China.

 

[Terrel L. Shields]

It was inevitable that oil prices go up after Biden because world economy recovering from Covid.

The primary driver was Biden dumping Keystone on day one, depriving us of 800 million bbl of oil that could have been refined in Houston and elsewhere.

 

[Dublin ohio]

It was inevitable that oil prices go up after Biden because world economy recovering from Covid. As Covid becomes less of problem, people want to spend so inflation goes up. It's how the free market works.

Free market my azz. It was all or the free money that people were given to spend.

Taiwan won't be invaded by China. By not happening, world economy benefits us and China.

Just like Russia didn't invade Ukraine

 

[Fernando]

Free market my azz. It was all or the free money that people were given to spend.

Free money was to help poor people get through Covid. With no government help, we would have seen many begging on the streets.

Just like Russia didn't invade Ukraine

China is not like Russia. Putin gave advanced warning before striking Ukraine.
China seeing devastation of sanctions from the West will wait another day.
Putin in dire health did not have the patience and was overconfident.

 

[Dublin ohio]

we would have seen many begging on the streets.

Sounds like many cities in CA

China is not like Russia. Putin gave advanced warning before striking Ukraine

Obviously you haven't been paying attention over the years. Do you understand what the "one China" policy is?

 

[Dublin ohio]

Free money was to help poor people get through Covid

I didn't realize there was an income limit on stimulus or on eviction bans.

 

[Fernando]

Sounds like many cities in CA

Today I saw this young man having a sign asking for money on a busy street. With current unemployment and he looks like he can work, why is he begging.
Free money has created current economy in which jobs are plentiful.

Obviously you haven't been paying attention over the years. Do you understand what the "one China" policy is?

Yes I understand the "One China" policy and one day it will happen but not under Biden's watch.

 

[Fernando]

I didn't realize there was an income limit on stimulus or on eviction bans.

There is an income limit to get stimulus checks.
I don't agree with eviction bans and should not have happened. Government was late and slow in the game in giving money to poor folks who can't afford rent payments.

 

[Dublin ohio]

There is an income limit to get stimulus checks.

75k for a single person, or 150k for those filing jointly does not seem "poor" to me.

 

[Dublin ohio]

Free money has created current economy in which jobs are plentiful

You are delusional at the best. The only reason jobs are "plentiful" is that people quit their jobs, didn't go back because of the freebies or were so scared by the Covid fear mongering that they are still hiding in their basements. Millions of people have left the workforce.