AunBear89 said:

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Remember: All Republicans are liars and hypocrites.

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BearForce2 said:

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AunBear89 said:

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Remember: All Republicans are liars and hypocrites.

---

---

Liberal conclusion: the Biden administration is Republican.

oski003 said:

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BearForce2 said:

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AunBear89 said:

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Remember: All Republicans are liars and hypocrites.

---

---

Liberal conclusion: the Biden administration is Republican.

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Republican "Logic" - ignore that inflation is global and that the president doesn't control global economies. Unless the president is an R, than shout these facts from the rooftops.

AunBear89 said:

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Republican "Logic" - ignore that inflation is global and that the president doesn't control global economies. Unless the president is an R, than shout these facts from the rooftops.

---

Yup.

Only Trumpanzees think that POTUS controls gas prices and interest rates.

DiabloWags said:

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AunBear89 said:

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Republican "Logic" - ignore that inflation is global and that the president doesn't control global economies. Unless the president is an R, than shout these facts from the rooftops.

---

Yup.

Only Trumpanzees think that POTUS controls gas prices and interest rates.

---

Poll Reveals About 47% of Small Businesses Are in Danger of Permanent Closure https://t.co/ON1EjO8io3

— Townhall.com (@townhallcom) July 18, 2022

63% of the people who own small business polled said that the recent skyrocketing inflation is hurting them more than lingering effects from COVID lockdowns.

Again -- WHO sets gasoline prices???

The spot price of crude is back down to $102/bbl. So you agree that Biden brought it back down from $120/bbl??

And how much of the crude that's refined into U.S. gasoline was actually purchased on the spot market? Very little. The vertically integrated oil companies have their own exploration operations. They've seen a little increase in their production costs, but nothing close to the rate of inflation.

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

tequila4kapp said:

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So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

If this is so obvious as cbbass1 claims, surprising that this DOJ and FTC are not going after the oil companies for colluding and violating antitrust laws. You know, competitors colluding on pricing strategy to artificially keep prices high are subject to criminal laws, and the executives themselves can and do go to jail.

So, is Biden's administration, including the DOJ and FTC which are under the purview of the executive branch, part of the criminal enterprise? If DOJ and FTC are not colluding as well, could this be just market forces and cost of regulation/refinery limitations keeping the price high?

Cbass said:

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Again -- WHO sets gasoline prices???

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Refining Capacity:

U.S. Energy Information Administration - EIA - Independent Statistics and Analysis

U.S. Refinery Utilization and Capacity (eia.gov)

DiabloWags said:

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Cbass said:

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Again -- WHO sets gasoline prices???

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Refining Capacity:

U.S. Energy Information Administration - EIA - Independent Statistics and Analysis

U.S. Refinery Utilization and Capacity (eia.gov)

---

What a curious business decision to randomly and voluntarily close refineries starting in 2020.

tequila4kapp said:

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DiabloWags said:

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Cbass said:

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Again -- WHO sets gasoline prices???

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Refining Capacity:

U.S. Energy Information Administration - EIA - Independent Statistics and Analysis

U.S. Refinery Utilization and Capacity (eia.gov)

---

What a curious business decision to randomly and voluntarily close refineries starting in 2020.

---

We removed the following refineries from total U.S. operable capacity after they closed:

• The Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania: 335,000 b/cd
• The Shell refinery in Convent, Louisiana: 211,146 b/cd
• The Tesoro (Marathon) refinery in Martinez, California: 161,000 b/cd
• The HollyFrontier refinery in Cheyenne, Wyoming: 48,000 b/cd
• The Western Refining refinery in Gallup, New Mexico: 27,000 b/cd
• The Dakota Prairie refinery in Dickinson, North Dakota: 19,000 b/cd

It's basically Econ. 1

With Martinez Marathon refinery closing, leaders look ahead (mercurynews.com)

DiabloWags said:

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tequila4kapp said:

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DiabloWags said:

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Cbass said:

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Again -- WHO sets gasoline prices???

---

Refining Capacity:

U.S. Energy Information Administration - EIA - Independent Statistics and Analysis

U.S. Refinery Utilization and Capacity (eia.gov)

---

What a curious business decision to randomly and voluntarily close refineries starting in 2020.

---

You must have either misread or didnt bother to read the links that I provided.
Those reports say nothing about "randomly and voluntarily" closing refineries in 2020.

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I think he was being sarcastic.

calbear93 said:

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tequila4kapp said:

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So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

If this is so obvious as cbbass1 claims, surprising that this DOJ and FTC are not going after the oil companies for colluding and violating antitrust laws. You know, competitors colluding on pricing strategy to artificially keep prices high are subject to criminal laws, and the executives themselves can and do go to jail.

So, is Biden's administration, including the DOJ and FTC which are under the purview of the executive branch, part of the criminal enterprise? If DOJ and FTC are not colluding as well, could this be just market forces and cost of regulation/refinery limitations keeping the price high?

---

Maybe you can show us the list of Sherman & Clayton Act enforcement actions since 1981.

Yes, those laws are still on the books. But they are NEVER enforced. Ever.

Even if they were, any court decision against a monopoly-forming merger would be quickly appealed to the pro-monopoly / Federalist Society Justices on SCOTUS.

What's more likely, going forward, is that the GOP, Federalist Society, and SCOTUS hacks come up with another "legislate from the bench" decision, this time to end the Federal Trade Commission's (FTC's) authority to review & stop mergers & acquisitions.

cbbass1 said:

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calbear93 said:

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tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

If this is so obvious as cbbass1 claims, surprising that this DOJ and FTC are not going after the oil companies for colluding and violating antitrust laws. You know, competitors colluding on pricing strategy to artificially keep prices high are subject to criminal laws, and the executives themselves can and do go to jail.

So, is Biden's administration, including the DOJ and FTC which are under the purview of the executive branch, part of the criminal enterprise? If DOJ and FTC are not colluding as well, could this be just market forces and cost of regulation/refinery limitations keeping the price high?

---

Maybe you can show us the list of Sherman & Clayton Act enforcement actions since 1981.

Yes, those laws are still on the books. But they are NEVER enforced. Ever.

Even if they were, any court decision against a monopoly-forming merger would be quickly appealed to the pro-monopoly / Federalist Society Justices on SCOTUS.

What's more likely, going forward, is that the GOP, Federalist Society, and SCOTUS hacks come up with another "legislate from the bench" decision, this time to end the Federal Trade Commission's (FTC's) authority to review & stop mergers & acquisitions.

---

Sorry, but you would like to come across as someone who knows anti-trust but clearly does not. Who is talking about anticompetitive mergers, HSR filings or monopolies? Throwing out those terms to an M&A lawyer like me and unit2 just reveals how little you know this stuff. In those mergers, DOJ and FTC can force second review and force a sale of Crown Jewels. And every single jurisdiction will have an antitrust filing requirement.

Collusive price fixing is a criminal enterprise that does not require a merger or a monopoly (which would be broken up like ma bell or like Warren is threatening with Meta). It is about competitors who share price strategy with each other. You want a list? Just Google price fixing cases. It is a go to hard federal prison for executives kind of a crime.

tequila4kapp said:

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So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

This bill failed but this is an example of legislative action that impacts fuel supply, which also happens at county and city levels.

https://www.feinstein.senate.gov/public/index.cfm/press-releases?ID=ED7BD4AE-AF79-4530-A62A-70131CE81303

In early 2021 there was a debate among economists about the likely consequences of the American Rescue Plan. Some warned that the package would be inflationary; others were relaxed. “I was Team Relaxed,” says @paulkrugman. https://t.co/5mrwZvAX07 pic.twitter.com/AbhZyQa1H0

— New York Times Opinion (@nytopinion) July 21, 2022

I was wrong about inflation - Paul Krugman

https://www.nytimes.com/2022/07/21/opinion/paul-krugman-inflation.html

cbbass1 said:

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What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

You are aware that OPEC+ controls 40% of global crude oil supply and 60% of global petroleum products, right?

tequila4kapp said:

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cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

cbbass1 said:

---

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Being Pro-lockdown f'd us. This administration was tooting that horn for the entire first year

MinotStateBeav said:

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cbbass1 said:

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Being Pro-lockdown f'd us. This administration was tooting that horn for the entire first year

---

For some reason, you conveniently left out the lockdown policy by Trump's White House and the guidelines proposed for State and Regional Gating Criteria for Re-Opening America that he gave "shade" to the States with.

It's puzzling why you would leave that out.

Guidelines - Document Viewer : NPR


Memorandum (whitehouse.gov)

DiabloWags said:

---

MinotStateBeav said:

---

cbbass1 said:

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Being Pro-lockdown f'd us. This administration was tooting that horn for the entire first year

---

For some reason, you conveniently left out the lockdown policy by Trump's White House and the guidelines proposed for State and Regional Gating Criteria for Re-Opening America that he gave "shade" to the States with.

It's puzzling why you would leave that out.

Guidelines - Document Viewer : NPR


Memorandum (whitehouse.gov)

---

https://www.cnbc.com/2020/08/03/trump-says-nationwide-lockdown-would-ultimately-inflict-more-harm-than-it-would-prevent.html

This is what happens when someone has tunnel vision.
They totally IGNORE the Trump Administrations own proposed GATING GUIDELINES for REOPENING.

Criteria that first needs to be met before reopening.

NEW: 12 of the top 15 states for jobs recovered since the pandemic are led by Republican governors pic.twitter.com/fZzZySYis7

— RNC Research (@RNCResearch) July 22, 2022

Many of California's small businesses are closed forever due to Gavin Newsom's draconian lockdowns.

MinotStateBeav said:

---

cbbass1 said:

---

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Being Pro-lockdown f'd us. This administration was tooting that horn for the entire first year

---

Quote:

---

> Being Pro-lockdown f'd us.

---

Depends on which "us" you're talking about.

Before we had the vaccines, the lockdowns & mask mandates saved several million American lives, beyond the 1,000,000+ who already died from the virus and the Trump admin's "it'll go away by itself" inadequate response.

Yes, the lockdowns had a huge impact on U.S. businesses, with $billions in losses.

With our recent experiences with Ebola, SARS, etc., why didn't more businesses & corporations have some level of Pandemic Insurance to help defray their losses?

Before the vaccines were widely distributed, Pro-Lockdown = Pro-Life. If we had followed the advice of the anti-lockdown / anti-mask zealots, millions more Americans would've died, well beyond our 1M toll. Is that what you wanted?

cbbass1 said:

---

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Honest answer: I do not know. I suspect there are several. One example: I believe it highly likely Saudi Arabia would increase production / refinement but for Biden's decision to halt arms sales to SA during their war with Yemeni rebels.

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Honest answer: I do not know. I suspect there are several. One example: I believe it highly likely Saudi Arabia would increase production / refinement but for Biden's decision to halt arms sales to SA during their war with Yemeni rebels.

---

I think he is actually contributing to the lower gas prices you are starting to see. Inflation from both Trump and Biden flooding demand with free money creating excess demand over supply once we opened back up creating high inflation leading to Biden and the Fed claiming inflation was only transitory making the Fed late to the game and now having to do a hard landing with anticipated recession without much improvement in supply chain leading to decreased demand for commercial activity and travel, leading to lower gasoline price.

Take a bow.

BearForce2 said:

---

In early 2021 there was a debate among economists about the likely consequences of the American Rescue Plan. Some warned that the package would be inflationary; others were relaxed. “I was Team Relaxed,” says @paulkrugman. https://t.co/5mrwZvAX07 pic.twitter.com/AbhZyQa1H0

— New York Times Opinion (@nytopinion) July 21, 2022

I was wrong about inflation - Paul Krugman

https://www.nytimes.com/2022/07/21/opinion/paul-krugman-inflation.html

---

He says:

"Everyone in the debate agreed that deficit spending would stimulate demand; everyone agreed that a stronger economy with a lower unemployment rate would, other things equal, have a higher inflation rate."

I don't think that last round of stimulus was a good idea for a lot of reasons, but clearly everyone knew is would cause inflation. It was just a debate over magnitude.

FWIW, I also think this California "gas rebate" is stupid. The state would be wise to hang onto that money for a rainy day.

dimitrig said:

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BearForce2 said:

---

In early 2021 there was a debate among economists about the likely consequences of the American Rescue Plan. Some warned that the package would be inflationary; others were relaxed. “I was Team Relaxed,” says @paulkrugman. https://t.co/5mrwZvAX07 pic.twitter.com/AbhZyQa1H0

— New York Times Opinion (@nytopinion) July 21, 2022

I was wrong about inflation - Paul Krugman

https://www.nytimes.com/2022/07/21/opinion/paul-krugman-inflation.html

---

He says:

"Everyone in the debate agreed that deficit spending would stimulate demand; everyone agreed that a stronger economy with a lower unemployment rate would, other things equal, have a higher inflation rate."

I don't think that last round of stimulus was a good idea for a lot of reasons, but clearly everyone knew is would cause inflation. It was just a debate over magnitude.

FWIW, I also think this California "gas rebate" is stupid. The state would be wise to hang onto that money for a rainy day.

---

Hmm...demand outpacing supply is creating an inflation? What is the best strategy to combat inflation. Maybe more free money to stimulate more demand? Yes, brilliant!

DiabloWags said:

---

MinotStateBeav said:

---

cbbass1 said:

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Being Pro-lockdown f'd us. This administration was tooting that horn for the entire first year

---

For some reason, you conveniently left out the lockdown policy by Trump's White House and the guidelines proposed for State and Regional Gating Criteria for Re-Opening America that he gave "shade" to the States with.

It's puzzling why you would leave that out.

Guidelines - Document Viewer : NPR


Memorandum (whitehouse.gov)

---

Why must this be my side and your side. Both parties are guilty. Trump did a lot of inflationary things as well as Obama. Quantitative Easing was essential was just that, "essential", after 2009, but it went on far too long and far too much. Then Trump added to it, but Biden intentionally signaled his Climate Change folks with an strong anti fossil fuel agenda from day one. Add to that the trillions he added even without getting Build Back Better.It is shown easily with graphs that gas prices went up tremendously (if I recall accurately from about $2.50 to $4.00+ per gallon) before Putin stepped into Ukraine, and continued thereafter. Most of you people look at it from a "my side", "your side" lens as to who did what to whom.

We've got inflation now. Joe is in the seat. We had Covid getting started in February 2020 and Trump was in the seat. It goes with the territory. Perception becomes one's reality. Overspending has been the problem.

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Honest answer: I do not know. I suspect there are several. One example: I believe it highly likely Saudi Arabia would increase production / refinement but for Biden's decision to halt arms sales to SA during their war with Yemeni rebels.

---

Good answer, and yes, a very direct connection.

I'll stand with Biden on this one, and take the $ hit. I also believe that the policy on SA arms sales is also tied to MBS's murder of U.S./WaPo journalist Jamal Khashoggi. There's little doubt that SA would rather be dealing with Trump (or a Republican) than Biden & the Dems.

That said, I also think that the Biden admin's sanctions on Russia's oil & gas sales will prove to be a net negative for the U.S. economy, not just for their inflationary impact, but for accelerating the transition of the world economy from U.S.-centered globalism to more multi-polar, and for accelerating the economic development of the BRICS as a more independent economy.

The question is, how much of the CPI increase, and how much of the U.S. gasoline price increase, can we attribute to these influences?

cbbass1 said:

---

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

cbbass1 said:

---

tequila4kapp said:

---

So the oil companies conspired to screw the entire nation with historic gas prices starting Jan 7, 2020? They didn't do it to Clinton or Obama but there was something about Joe that set them off?

---

That's clearly NOT what I'm saying.

What I am saying is that oil companies, and oil companies alone, are responsible for the prices they charge for their product.

NOT the President, and NOT the President's political party.

---

Come on. Policy impacts how people act. People and companies do not exist in a vacuum.

---

Agree 100%!

So if you can be as specific as possible, what Democratic Party or Biden admin policies are contributing directly to higher gasoline prices in the U.S.?

---

Honest answer: I do not know. I suspect there are several. One example: I believe it highly likely Saudi Arabia would increase production / refinement but for Biden's decision to halt arms sales to SA during their war with Yemeni rebels.

---

Good answer, and yes, a very direct connection.

I'll stand with Biden on this one, and take the $ hit. I also believe that the policy on SA arms sales is also tied to MBS's murder of U.S./WaPo journalist Jamal Khashoggi. There's little doubt that SA would rather be dealing with Trump (or a Republican) than Biden & the Dems.

That said, I also think that the Biden admin's sanctions on Russia's oil & gas sales will prove to be a net negative for the U.S. economy, not just for their inflationary impact, but for accelerating the transition of the world economy from U.S.-centered globalism to more multi-polar, and for accelerating the economic development of the BRICS as a more independent economy.

The question is, how much of the CPI increase, and how much of the U.S. gasoline price increase, can we attribute to these influences?

---

There's no difference between Biden and Trump on SA

Biden approved the sale of air missiles to Saudi Arabia- 650 million$.

The United States has approved a $650m sale of air-to-air missiles to Saudi Arabia, the Pentagon announced, in what would be the Biden administration's first major weapons deal with the Gulf kingdom.

In a statement on Thursday, the Pentagon said the US State Department approved the sale to help Riyadh counter current and future threats.

https://www.aljazeera.com/amp/news/2021/11/4/biden-administration-approves-650m-weapon-sale-to-saudi-arabia

The Biden administration decided not punish the Crown Prince over Khasshogi's death

ASHINGTON President Biden has decided that the diplomatic cost of directly penalizing Saudi Arabia's crown prince, Mohammed bin Salman, is too high, according to senior administration officials, despite a detailed American intelligence finding that he directly approved the killing of Jamal Khashoggi, the dissident and Washington Post columnist who was drugged and dismembered in October 2018.



https://www.nytimes.com/2021/02/26/us/politics/biden-mbs-khashoggi.html

OdontoBear66 said:

---

It is shown easily with graphs that gas prices went up tremendously (if I recall accurately from about $2.50 to $4.00+ per gallon) before Putin stepped into Ukraine, and continued thereafter. Most of you people look at it from a "my side", "your side" lens as to who did what to whom.

We've got inflation now. Joe is in the seat. We had Covid getting started in February 2020 and Trump was in the seat. It goes with the territory. Perception becomes one's reality. Overspending has been the problem.

---

One of the biggest problems that I see with this country is just how financial and economically illiterate it is. There are an awful lot of people that arent able to critically think for themselves and have to rely upon political pundits on cable channels like Faux News. - - - I especially see this with high school educated blue collar "trade" workers.

This is nowhere more apparent when it comes to the causes of inflation, let alone the GLOBAL supply/demand dynamics of crude oil, let alone an 800 lb. Gorilla called OPEC+.

The ridiculous naivete that I see displayed on a daily basis on social media platforms by terribly ignorant people (mostly Trump supporters) is extremely embarrassing. If I could have $5 for every guy that claimed that Biden shut-down the Keystone Pipeline, I'd be a Billionaire. Never mind that the first three phases of Keystone have been open for years, oil also travels by rail car, or that we are still producing the same 11.6 to 12.1 million barrels per day of crude oil here domestically. And never mind that the fracking business has become much more capital conservative over the last 5 years with their business model. That alone, has had a huge impact. But you never hear about that from the typical Trump supporter.

I'm not suggesting that you personally (or others) here are guilty of this, but I would certainly caution anyone making the mistake of claiming that gasoline prices in the United States increased dramatically (under Joe Biden) before Putin stepped into Ukraine on Feb. 24th because of Biden's energy policies.

A NY Harbor RBOB Futures Chart of Unleaded Gas clearly shows that it was trading at roughly $2.50 one month before Putin invaded Ukraine and it closed at $2.87 the week ending Feb. 25th.

After a spike up to as high as $3.89 in early March, the futures contract for unleaded gas came back down to as low as $2.97 the week ending April 15th, before surging again over the next 7 weeks to as high as $4.32

Futures markets are DISCOUNTING MACHINES.

They take in every single little piece of information on supply/demand and that gets reflected in the futures price. The actual start DATE of the Russian invasion of Ukraine is literally irrelevant. Gas prices were already moving up in ANTICIPATION of a potential conflict given that market participants had to hedge themselves, never mind that over 1 million barrels per day of refining capacity in the Gulf Coast got taken off the market due to refinery shut downs. - - - This is virtually Econ. 101A