From the Politico article referenced…
“This summer’s rally, however, has largely been driven by the decision by OPEC and Russia to withhold supplies to ensure prices don’t weaken. And the cuts by Saudi Arabia in particular of 1 million barrels per day on top of the OPEC+ agreement have put a spotlight on Washington’s fraught relationship with the kingdom.”
Yeah, I realize presidents don’t determine gas prices. Just countering crapola.
Oh yea…just backing you up on it…
I’ve been pushing back on this since 2021. It’s people that really don’t understand the oil and gas business that think Biden is driving oil prices higher or really impacting much of anything.
Biden certainly hasn’t been helpful to the industry but he doesn’t even control that much for oil and gas permitting for drilling. Much of that is with the states. The whole if I were president we would frac and drill like crazy and lower crude prices is nonsense.
We do need to get out from under the Saudi thumb. That would be nice.
Solid state batteries could change everything in the next 5-10 years.
The O&G industry has more than enough wells they can open. They chose to close a bunch in the last year after a solid streak of turning them back on/opening new ones during Biden’s admin.
They are largely drilling what they want to, at least as it pertains to the federal government. Crude prices are down which is driving drilling down.
That’s not always true on the state side but that’s another story. Biden doesn’t control that.
What kind of help do they need?
It’s more about not getting in the way. He stopped leasing on federal land early on for a review that wasn’t really necessary, imo. That’s done now. He’s also made permitting more expensive and challenging offshore and onshore.
That’s the stuff I’m talking about. It’s not going to stop a lot though.
Just typical right wing talking points
“Energy independence” isn’t even a realistic concept. Simply exporting more than you import doesn’t make a country “energy independent”.
You’re not energy independent if you still require a lot of imports