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The Hundred-Dollar Gas Fill-Up And The Demise Of The Democrats In 2022 (1 Viewer)

Even if this analogy were accurate: (it is not, fires are rare and difficult to plan for whereas gas price inceases are the opposite), what solution would you offer that would give instant relief? US refined gasoline prices are already among the lowest in the world.


Immediate relief: Moratorium on all state and federal gas taxes.  

Medium/long term relief: De-regulate industry (or at the very least fast-track litigation), finish pipelines, Oil refineries partially funded by taxpayer money, etc.  

 
And the last  time it was also pulled out of context in an overall talk about infrastructure and EVs. It was never just a gas is high, buy and EV kind of conversation.

And Stabenow was tone deaf in the way she said it passing by gas stations…but her overall point was about looking forward to more people being able to get into EVs.
Maybe it’s me, but there is a lot of tone deafness going on.  We are not close to this concept being reality.   I just texted a friend that sells cars and they haven’t had a EV for sale in 6 weeks.  

 
Could only imagine what it would cost me to upgrade the electric and build a garage on a 95-YO farm, then buy a EV.?  That could be $100K, that’s not happening.

‘Sorry Mayor Roundabout ( Pete’s unofficial name in South Bend).

 
Maybe it’s me, but there is a lot of tone deafness going on.  We are not close to this concept being reality.   I just texted a friend that sells cars and they haven’t had a EV for sale in 6 weeks.  
There is not the inventory for them. People have been ordering them.   Very little inventory of any kind still.

 
There is not the inventory for them. People have been ordering them.   Very little inventory of any kind still.
Exactly, that is how out of touch these people are.  They act like it’s no big deal.  I’m sure if Stabenow wanted one, she’s getting one - you or I, bottom of the waiting list.

 
Could only imagine what it would cost me to upgrade the electric and build a garage on a 95-YO farm, then buy a EV.?  That could be $100K, that’s not happening.

‘Sorry Mayor Roundabout ( Pete’s unofficial name in South Bend).
Neighbor just bought a Kia EV6…ordered it several months ago and it came in early.   Now he waits on the electrician to put charging capability in his garage.   Its nowhere near 100k with the car but yeah it isn't a 100 year old Farm but a 16 year old house.

 
Neighbor just bought a Kia EV6…ordered it several months ago and it came in early.   Now he waits on the electrician to put charging capability in his garage.   Its nowhere near 100k with the car but yeah it isn't a 100 year old Farm but a 16 year old house.
I would need a garage built.  Staring at two knee replacements, it would have to be some sort of SUV.

 
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I would need a garage built.  Staring at two knee replacements, it would have to be some sort of SUV.
Im looking more at the plug in hybrids to replace my wife’s minivan…just feel more comfortable about it then stopping to charge on our Wisconsin trips.  

 
How do these batteries perform or hold up in temperature extremes?  
I am not sure. Just now been researching them.  Looked into it briefly a month or so ago as I was in need of a car…but looking at how far out it would be to get one…I held off for now to get us past getting our son off to college in the fall.

 
Immediate relief: Moratorium on all state and federal gas taxes.  

Medium/long term relief: De-regulate industry (or at the very least fast-track litigation), finish pipelines, Oil refineries partially funded by taxpayer money, etc.  


Thanks for the thoughtful reply. It's clear that you have a better understanding of the industry than most.

The federal gas tax is 18 cents a gallon and the money funds highway infrastructure. But sure, let's save everyone $2-$3 per pump visit and take it out of them later to cover infrastructure, I can get behind that. Doesn't get us too far, though- most people can save more than that simply by using gasbuddy or something to comparison shop.

The state gas taxes are up to the states, obviously. Some have rolled them back, most haven't. I imagine the division is largely a function of what the taxes fund and whether they can afford to pause that funding.

The medium/long term measures are OK, I guess, although I'd be curious to hear which specific regulations you'd get rid of.  Just so long as people understand that none of these would have any impact on the current price bump. The earliest we'd see any price benefit from those is years down the line, and of these only the federal funding for refineries would have a substantial impact on pricing IMO. And to do even that you'd have to explain why the federal government is providing even more funding and other benefits for the fossil fuel industry at a time given the concerns about climate change.

 
I would need a garage built.  Staring at two knee replacements, it would have to be some sort of SUV.


I live in the city and park my car on the street.  The best they could do is put one of the chargers on the sidewalk outside of my house and make the parking spot a charging only spot.  Before I could do that, I'm certain I'd have to put out thousands in permits, right of way plans, etc.  Tacking that onto the increased cost of the EVs, the lack of other charging locations in the area and EVs just don't make sense for me.  

 
Thanks for the thoughtful reply. It's clear that you have a better understanding of the industry than most.

The federal gas tax is 18 cents a gallon and the money funds highway infrastructure. But sure, let's save everyone $2-$3 per pump visit and take it out of them later to cover infrastructure, I can get behind that. Doesn't get us too far, though- most people can save more than that simply by using gasbuddy or something to comparison shop.

The state gas taxes are up to the states, obviously. Some have rolled them back, most haven't. I imagine the division is largely a function of what the taxes fund and whether they can afford to pause that funding.

The medium/long term measures are OK, I guess, although I'd be curious to hear which specific regulations you'd get rid of.  Just so long as people understand that none of these would have any impact on the current price bump. The earliest we'd see any price benefit from those is years down the line, and of these only the federal funding for refineries would have a substantial impact on pricing IMO. And to do even that you'd have to explain why the federal government is providing even more funding and other benefits for the fossil fuel industry at a time given the concerns about climate change.


I posted (in this thread I think) of the EOs Biden signed that he should reverse.  It was rather lengthy and I'd prefer to not have to re-write it.  I don't have concerns about the climate, humans have already begun to shift to renewable sources.  Destroying the fossil fuel industry doesn't make the renewable sources a more viable product.  We're still years (maybe decades) away from being able to rely on green energy as our main energy source.  I prefer to support fossil fuels while transitioning to cleaner sources.    

 
I live in the city and park my car on the street.  The best they could do is put one of the chargers on the sidewalk outside of my house and make the parking spot a charging only spot.  Before I could do that, I'm certain I'd have to put out thousands in permits, right of way plans, etc.  Tacking that onto the increased cost of the EVs, the lack of other charging locations in the area and EVs just don't make sense for me.  
I wonder how long a random charging station in Philly would last until the copper was ripped out.  

 
I posted (in this thread I think) of the EOs Biden signed that he should reverse.  It was rather lengthy and I'd prefer to not have to re-write it.  I don't have concerns about the climate, humans have already begun to shift to renewable sources.  Destroying the fossil fuel industry doesn't make the renewable sources a more viable product.  We're still years (maybe decades) away from being able to rely on green energy as our main energy source.  I prefer to support fossil fuels while transitioning to cleaner sources.    
It was a good post. 

 
Question 1: What exactly has Biden done to lower gas prices?

Question 2: Anyone who can answer Question 1, why did Biden wait so long to act?

Bonus Question: For anyone who answered Question 1, did you also post in this thread that there was nothing Biden could do to lower gas prices?  
I bought an EV becauase Al Gore told me too. Why, what's going on with gas prices?

 
I bought an EV becauase Al Gore told me too. Why, what's going on with gas prices?


They're going down and Biden wants to take credit.  

I'm doing the reverse of you.  I'm going to let everyone buy EVs and I'll keep the gas guzzler but then demand will drop so low I'll be able to fill my tank for $5 while you EV fools will have to wait in line for hours to charge your car.

 
They're going down and Biden wants to take credit.  

I'm doing the reverse of you.  I'm going to let everyone buy EVs and I'll keep the gas guzzler but then demand will drop so low I'll be able to fill my tank for $5 while you EV fools will have to wait in line for hours to charge your car.
I give the credit to Russia.  

 
Question 1: What exactly has Biden done to lower gas prices?

Question 2: Anyone who can answer Question 1, why did Biden wait so long to act?

Bonus Question: For anyone who answered Question 1, did you also post in this thread that there was nothing Biden could do to lower gas prices?  
Semi-serious answer...

1. Allowed Trump's 2-year deal with OPEC+ cutting production to expire.

2. Because it was a 2-year deal.

Yes, I did, because he didn't really "do" anything to let the deal expire...

 
Semi-serious answer...

1. Allowed Trump's 2-year deal with OPEC+ cutting production to expire.

2. Because it was a 2-year deal.

Yes, I did, because he didn't really "do" anything to let the deal expire...


Interesting.  From this report, OPEC+ only made modest increases in supply from May to June.  

https://www.iea.org/reports/oil-market-report-july-2022

And when I compare it with the May report

https://www.iea.org/reports/oil-market-report-may-2022

February 2022 OPEC+ supply: 44.15

March 2022 OPEC+ supply: 43.12

May 2022 OPEC+ supply: 43.25

June 2022 OPEC+ supply: 43.60

It looks like OPEC+ has decreased their supply from February.  I guess we'll find out next month when the July numbers are released if you're post has any factual relevance.

 
I don't know about you guys, but gas is down around $0.60-$0.70 trom it's high a few months ago.

If Biden gets blame for it going up, does he get credit when it comes down?

 
I don't know about you guys, but gas is down around $0.60-$0.70 trom it's high a few months ago.

If Biden gets blame for it going up, does he get credit when it comes down?
No. If gas goes up it is Biden, if it goes down it is just the market. It works opposite for the stock market. 

 
I don't know about you guys, but gas is down around $0.60-$0.70 trom it's high a few months ago.

If Biden gets blame for it going up, does he get credit when it comes down?


Of course, but did you blame him when it went up?  I'm not sure I've seen any posts from you or from other posters in your party doing so.  In fact, we got a lot of "It's not Biden's fault" from your side of the aisle.

For better or worse, the current POTUS should get the credit when things go good, and the blame when things go bad.  You can't just take the good things and then blame the last guy on the bad things.

 
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Of course, but did you blame him when it went up?  I'm not sure I've seen any posts from you or from other posters in your party doing so.  In fact, we got a lot of "It's not Biden's fault" from your side of the aisle.

For better or worse, the current POTUS should get the credit when things go good, and the blame when things go bad.  You can't just take the good things and then blame the last guy on the bad things.
Nope.  I have said all along that the president has very little to do with gas prices... Or the stock market.

The economy is like an aircraft carrier.  You can't turn it on a dime.  It takes 3-4 year's for a policy to have an effect, if it had any at all. (You can do the math on that one).

 
No. If gas goes up it is Biden, if it goes down it is just the market. It works opposite for the stock market. 


I've asked this a few times and I always get crickets.

If you want to give Biden credit for the gas price drop then I ask this one simple question:  WHY DID HE WAIT SO LONG TO ACT?  Gas has been going up since he took office.  Apparently, he waited until it hit $5 and all time highs and then decided to do something.  I'm not taking a victory lap on that if I'm Biden.  

 
I've asked this a few times and I always get crickets.

If you want to give Biden credit for the gas price drop then I ask this one simple question:  WHY DID HE WAIT SO LONG TO ACT?  Gas has been going up since he took office.  Apparently, he waited until it hit $5 and all time highs and then decided to do something.  I'm not taking a victory lap on that if I'm Biden.  
I don’t give him credit, nor the blame for when it went up.  This is a global commodity market.  
 

Going forward, to stabilize prices and the market, should there be a price floor on oil?  Pick a level that prevents oil companies from bailing on their plans should oil go negative like it did in 2020. If we said oil can’t transact under $60/barrel, does that keep oil and gas exploration up and investment in refineries?  Gas probably never goes below $3/gallon at that point.  

 
I don’t give him credit, nor the blame for when it went up.  This is a global commodity market.  
 

Going forward, to stabilize prices and the market, should there be a price floor on oil?  Pick a level that prevents oil companies from bailing on their plans should oil go negative like it did in 2020. If we said oil can’t transact under $60/barrel, does that keep oil and gas exploration up and investment in refineries?  Gas probably never goes below $3/gallon at that point.  


He gets blame for it going up.  He exacerbated supply side issues from a US perspective with some of his early EOs.  He is at fault for his reaction to Putin amassing troops at the Ukraine border which showed global weakness to Russian forces at the Ukraine border.  And then his response to the invasion with his sanctions haven't done anything to dissuade Putin but have caused price increases here.  So yes, he does get blame.   

 
He gets blame for it going up.  He exacerbated supply side issues from a US perspective with some of his early EOs.  He is at fault for his reaction to Putin amassing troops at the Ukraine border which showed global weakness to Russian forces at the Ukraine border.  And then his response to the invasion with his sanctions haven't done anything to dissuade Putin but have caused price increases here.  So yes, he does get blame.   
Again, my belief is $100B in oil and gas BKs in 2020 are a much bigger cause. I’m more frustrated with the tarifs that are still in place and that interest rates weren’t raised sooner. I recall calls for negative interest rates after massive tax cuts to juice the economy into overheating.  You are justified in blaming Biden, or Putin, or Buttigieg, or AOC. I just don’t think it is very helpful. 

 
He is at fault for his reaction to Putin amassing troops at the Ukraine border which showed global weakness to Russian forces at the Ukraine border.  And then his response to the invasion with his sanctions haven't done anything to dissuade Putin but have caused price increases here.  
Can you please unpack or link what you think the Russia/Ukraine policy should have been? Not sure I have read your take on this topic. Thanks.

 

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