re Why are gas prices so high Not rocket science Dallas

Garland TX

Description

One thing for sure, our little buddy Dallas is no rocket scientist. I can certainly understand why it would have voted for another moron. I'll try once more to explain supply and demand and how it effects the price of a commodity. In 2019 the price of a barrel of oil was around 57 dollars a barrel. The price of gas was around $2.00. What happened then, you ask. Pedo Joe Biden was installed as president and to please the greenies, he made drilling for oil on public lands almost impossible, shut down the pipelines that would have increased oil supply to the refineries forcing the refineries to pay more for oil due to the competition from other countries due to a reduced supply of oil. This shortage caused by a moron resulted in an oil shortage the world over. Oil as a commodity increased in value due to the stupidity of one man, biden, driving up the price of oil world over. Refineries have to pay the going price of oil and that cost is reflected in the pump price of gas. The price of gas would immediately see a decrease if the roadblocks placed on drilling in our country were removed. Oil is traded on the open market by speculators who buy futures on oil produced. When an abnormality like biden's screwups happen they are forced to pay more for oil purchased from oil producers and then re sell the oil to refineries. Yes, the oil companies are making profits, so are the traders, our government and investors who are invested in oil related enterprises. Due to past discussions with Dallas, I have no illusions that they will be able to comprehend the fact that less of a commodity makes that commodity more valuable. The fastest way to bring down the price of gas and screw those oil companies is to allow our producers in this country to find and produce more of our own oil. .