I was sent something by someone on Facebook wanting my response to posts from two other Facebook users. The topics are about the high has prices and Biden. See the Facebook posts and my response below!
Both posts are talking about the Keystone Pipeline. Here’s the thing, even if the pipeline was not cancelled, it would still be a few years before it was operational. Also, most of that oil that would have gone through the pipeline would have been shipped off to Asia. So even if the pipeline was still being built today, it would have no impact on oil prices. Keep in mind that there are already a lot of pipelines in operation in the Midwest.
Second, some keeps talking about gas prices being cheap in 2020. Trump has nothing to do with that. We were in a global COVID-19 pandemic where many were not travelling around the world. Gas prices got as low as around $1.30 here in Alabama. Even if we increased drilling everywhere, we will never see cheap prices like that ever again.
And here are some things some don’t like mentioning, especially Republicans. First, oil drillers and producers have an incentive to keep prices high, they want to make as much profit as possible. Yes, they care more about the almighty dollar than keeping prices reasonable. So they are not going to be “quick” in drilling new oil fields as some want. Even if the United States allowed more drilling permits, it would not magically increase drilling as some would hope. Second, oil is a worldwide traded resource. Worldwide events like the Ukraine Russia war will drive up oil prices, some seem to forget back in 2008 when the USA was in the Iraq war and we saw what happened with over $100 a barrel of oil.
And third, no one is talking about refinery capacity. There are several refineries down from fires and the hurricane that struck Louisiana last year. As for Biden, man I am glad he is president right now. The pandemic has gotten better, jobs are being created in a record pace, and we are punishing Russia for invading Ukraine. If Trump was still president, as I have told my mom, he would have told Putin to “have at it” and Ukraine would have been screwed and conquered.
There are some challenges like some higher prices, but we are emerging from a global pandemic that has killed millions of people. Also, some corporations are increasing prices, while giving their CEO’s huge bonuses and major shareholder buybacks. Why is hardly anyone talking about this? I’m sure shareholders can get a little less and those CEO’s can get by without huge bonuses instead of increasing prices.
Anyways, there is my talking points.
Categories: Politics Talk Stuff