Former President Donald Trump had bragged about his success in opening the region to oil production after decades of political fighting over the resources locked under the tundra there.
Former President Donald Trump had bragged about his success in opening the region to oil production after decades of political fighting over the resources locked under the tundra there.
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I’d rather the “profits” stay in the pockets of every American citizen
See, that’s where we’re different. You pretend to be upset about Americans paying more at the pump, but are actually selfish and only care about a handful of Americans getting richer
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If you invest in oil, then you should want higher gas prices. If you want lower gas prices, then i recommend not investing in oil. If you want energy independance, then you should be championing green energy initiatives and electric cars as much as drilling new claims, even if you yourself dont plan on getting an ev it reduces national dependance.
Oil companies got crushed under trump with the insanely low gas prices of 2016 2017 (i think it was saudi selling at a loss to take market share that time), then again under covids reduced demand and more opec suppliers flooding the market and stealing market share (also under trump). Then they cut production to match demand and cut costs. You can’t just turn a well off and back on, so when demand rose gobally post covid and foreign suppliers cut back production at the same time to reap the profits, the US lagged in ramping up production, and their record profits (under biden) didnt incen tivise them ramping it up. Those 5$ gas prices made the stock go up.
The president does influence gas prices, but not much. Here’s a decent video on gas prices.
https://youtu.be/QnBqAzJXVGo?si=rdfQFVneqaOtf9u9
Here is an alternative Piped link(s): https://piped.video/QnBqAzJXVGo?si=rdfQFVneqaOtf9u9
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source, check me out at GitHub.
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Translation: I don’t give a fuck as long as the rich people who own the industry get richer. People with less money than me should join me in protecting those poor billionaires and hectomillionaires from only becoming 45% richer every year or two.
Here in reality, the US is the number one oil producer in the world and exports much more than it uses. Prices are not affected by production anywhere near as much as by commodities trading, cartel price fixing and good old fashioned profiteering.
https://www.fool.com/retirement/2017/06/19/does-the-average-american-have-a-401k.aspx
I’m pretty sure 32% is less than a majority, but I admit I’m bad at math.
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Bullshit.
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Notice I provided evidence and you did not?
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Stupid deflection and “most” is wildly inaccurate, unless you’re talking about boomers, who by your standards, should be thanking Biden then
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Define “net benefit to society.” Does that include the entire service industry, much of which does not offer 401(k) plans? I’d like to see what you would do without all the people who pamper you.
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You think house cleaners would be the biggest loss? How about waiters? How about cooks? How about fucking janitors?
None of them are a net benefit to society? Well then why even have those jobs? They’re a net loss to society.
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There’s the Republican moral compass. Unless you’re giving corporations extra spending cash, you’re a detriment to society.
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I’d rather the environment stay with us instead of trading it for money
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Yeah let the environment in Russia be destroyed first please. Let’s keep American land the way it naturally is
Here is an alternative Piped link(s): https://piped.video/YlxKb7KQw34?t=96
https://piped.video/watch?v=P9XjFP6yaRU
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source, check me out at GitHub.
Russian oil is down 24% YOY
https://www.barrons.com/market-data/stocks/rosn?countrycode=ru
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This is a bold claim to actually bet money on. Too risky for my blood but do you. If you believe it, this is definitely the dip to buy in at.
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If you’re trying to make money invested in US oil and hoping to keep money in the US, you need the price to be > $3/gal. During the pandemic Russia killed us and our fracking oil fields with the cheap gas. Many US fields had to close, many permanently because damage is done to the fracked wells when operations stop. Below $3/gal it’s cheaper to import and we’re sending our money to the Saudis and elsewhere.
High gas prices makes the US oil fields competitive. Low prices sends US money over seas.
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