Trump predicts high gas prices under Biden administration!!

[Atlanticmike]

https://youtube.com/shorts/veCoeYQHWyI?feature=share

Trump predicted $8 a gallon gas and now we have $8 gas!! What will happen when we have $10 a gallon gas?? Because it’s going to happen! Biden is a major loser and we’re all paying the price!!

[Doctor Steuss]

WTI Crude (April contract) and Brent Crude (May contract) are both down over 11% today, as of this moment. The largest daily drop since the pandemic. Gasoline is down over 10%.


ETA:

now we have $8 gas

Gas in California isn't even above $6. Where is it $8?

[K Graham]

September 2008, Gas over $5 a gallon in Florida

June 2008, Gas hits $5 on a sign advertising gas prices at a Shell station

That's the equivalent to $7.17 per gallon in 2022.

[Jersey Girl]

You know if you weren't so insecure about your intellectual abilities or even if you were remotely interested in learning, you wouldn't have to post repeated crap like this.

[Atlanticmike]

You know if you weren't so insecure about your intellectual abilities or even if you were remotely interested in learning, you wouldn't have to post repeated crap like this.

Learning !! You worship at the feet of all the progressive cult members on the board!!!! Learning???? You’re just upset because I demolished your ECHO CHAMBER!! I guess I would be mad too if someone crushed my echo chamber. But I don’t need an echo chamber to be happy like you do!

[Jersey Girl]

You know if you weren't so insecure about your intellectual abilities or even if you were remotely interested in learning, you wouldn't have to post repeated crap like this.

Learning !! You worship at the feet of all the progressive cult members on the board!!!! Learning???? You’re just upset because I demolished your ECHO CHAMBER!! I guess I would be mad too if someone crushed my echo chamber. But I don’t need an echo chamber to be happy like you do!

YOU are an echo chamber. Try thinking your way out of a paper bag now and then, k?

[Gadianton]

I'm raising a beer to all the Trump supporters too stupid to invest in oil when Trump made his infallible prediction.

And by the way...

Why would you want oil prices to go down, or stay low, if your goal as a nation is to be an energy exporter? (hint: supply curves slope up)

I realize reality doesn't matter. Somewhere in Irkutsk, there's a toothless roofer who just says "Putin is the best" no matter what. Something good happens, it's because of Putin; something bad, it's because of Putin's enemy.

[ajax18]

Trump did exaggerate at times. Sadly the Biden administration has been bad enough to prove this exaggeration correct.

On the one hand Biden wants to say that none of my policies have caused the price of gas to increase. In his words, "It's Russia's fault." On the other hand he wants to say, if you can't afford to put gas in your car, that's your fault for not buying that Tesla. Biden's statement that investors won't invest in drilling for oil on public lands is in large part due to the fact that the deep state has successfully been able to deny capital to entrepreneurs seeking to invest in fossil fuels.

The left uses a similar approach to teaching of critical race theory in public schools. Out of one side of their mouth they claim that they don't teach critical race theory. Out the other side of their mouth, they claim anyone who says it shouldn't be taught in school is a racist. They say, "No, I'm not going to raise taxes on anyone making <$400k/year and then within the same breath that we need to pay higher taxes to help fund necessary government programs and subsidies. No we don't want open borders. We just think that walls are immoral and ICE should be abolished. But we're not for open borders and unrestricted immigration. No we don't want to defund the police. (only said when the murder rate reached it's current rates) We just want to fire all the police officers and reinvest their salaries into community welfare programs, enact no cash bail, and strike down any criminal law that has a disparate impact on nonwhite people because that makes the law racist.

It's not like the left has not been clear about their views on climate change. Gasoline should be expensive so that less efficient forms of green energy can be competitive. But behind the scenes Democrat governors are begging Biden to lift the gasoline tax out of fear of what the gasoline prices are going to do to their reelection chances. Perhaps they are worried, though I'm not sure why. If the election gets close, I'm sure they'll find a way to cheat anyway.

[Gadianton]

On the one hand Biden wants to say that none of my policies have caused the price of gas to increase

Neither Biden nor Trump can affect oil prices, although, it looks like Biden has made some headway with the OPEC cartel. I'm sure OPEC wants to maximize profits independent of who makes that phone call, however. If you, Ajax, want the great state of Texas to be an energy exporter, and the Confederate states of America to be a net energy exporter as Trump imagined, then American oil companies need the price of oil to go up to the point profits are maximized. Why is this hard to understand?

Demand for oil is relatively inelastic, but OPEC might not want to test the limits because there's a tipping point at which their own profits will take a hit if they let prices go too high and that stifles global demand.

If you want America to produce its own oil, cut itself off from the rest of the world and defy Trump by not exporting, and turn Texas oil fields into the servants of government such that they overproduce to keep prices low, you're basically asking for communism. I just don't get it. I mean, I get that even basic economics isn't easy for most people. But come on Ajax, you were good at school so you don't have an excuse. If that happens, you'll pay the price through back channels. Capitalism basically works, Ajax, so quit trying to turn presidents into price setters.

The first question you need to ask yourself Ajax, do you want cheap energy, or do you want the US to be a profitable energy exporter like Trump said it should be?

[Res Ipsa]

Nice thread by Kurt Eichenwald about gas prices and why presidents have little to do with them. https://threadreaderapp.com/thread/1501 ... 02370.html