Quote:
Originally Posted by John Mercier
Higher energy costs are not due to this administration.
Oil was $147 when gasoline was last at the $4 mark. We only went to $120 for gasoline to go to $5. That means a great demand for the supply of refined product. We lost 1 million barrels per day of refining capacity in 2019 and 2020... this Administration hadn't even entered office.
We saw this coming in 1984... for the wage labor. And 2015/2016, for the energy increase. Everybody in the market was discussing it back then.
The US oil fields are producing... the US doesn't have refining capacity, and the next two countries even close to our capacity are Russia and China.
The Houston refinery was slated to close in 2023, taking another 500 thousand barrels per day out of our refining capacity... and only expects to hold on to 2024 due to federal pressure and incentives.
If the cost was actually hurting anyone... we wouldn't see so many out-of-state plates in central NH or the lakes full of boats.
So regardless of our increasing field production in the US, we have no more refining capacity and must send the crude overseas to be refined.
Because this situation is not going to change... everyone in the industry being honest has told the American people that it is going to require demand destruction...
In other words, people will need to be more than conservatives in self-appointed name only.
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John, enough with the logic—LET'S GO BRANDON!!!
Like, for real, people forget how high gas was when Bush was in office or that there was a pandemic when gas was $1.xx/gallon or that the supply chain was disrupted during the pandemic leading to supply and demand and resulting costs to be affected or that the rest of the world is dealing with the same stuff.
Listen, Biden's no panacea, but Trump wasn't either—his China tariffs, foreign-worker policies, etc. are still damaging—so enough with the polarized absurdity. It's not only disingenuous, it's damaging.
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07-27-2022, 07:40 AM
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