Biden and oil prices.

Seattle WA

Description

Biden saying there is nothing he can do about oil prices is a lie. Oil is priced at supply and demand. When Biden decided to slow down oil production in the US it caused the supply to dwindle. Now Biden is begging for more oil from OPEC. Why in the world would OPEC want the price of oil to drop per barrel. U.S. net petroleum product exports—distillate fuel oil, hydrocarbon gas liquids, and motor gasoline, among others—averaged 3.2 million b/d in 2019 and 3.4 million b/d in 2020. Gross U.S. crude oil exports in the first half of 2021 averaged 3.0 million b/d, down from 3.2 million b/d in the first half of last year. Lifting sanctions from Iran and Venezuela to put more oil on the market is not a smart strategy. It will empower these countries that are a enemy to the U.S. and Europe. Oil companies are getting rich with Biden's plan on reducing energy production in the U.S. at the expense of taxpayers. Whenever oil prices increase anything tied to oil increases. We all know what fuels inflation. This is basic economics and printing more money weakens the value of the dollar.