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Thread: Why are folks Blaming Joe Biden for High Gas prices?

  1. #21

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    Price gouging has been going on during the pandemic at even the lowest levels of the economy (ebay stores) and led to a huge run up In gaming consoles.

    https://www.businessofbusiness.com/a...ntendo-switch/

    I was considering purchasing a PS5 console when until I saw the price tag $1,000.
    That wasn't what Sony said they were selling it for.
    Ebayer's rushed out to buy as many as they could and then jacked up the price so that everyone else would have to pay several hundred more if they wanted one.
    Why would corporations that damn near hold a monopoly behave any differently?

    The problem is we don't want government intervention. It is on the people to vote with their dollars and tighten their wallets. The CEO's have echoed the same sentiment-people are willing to pay.

    Warren Buffett on inflation: We're raising prices and it's being accepted

    https://www.youtube.com/watch?v=7t7qfOyQdQA


    Price of Meat On The Rise As Companies See Profits Triple


    JBS paid 110 million to settle price fixing allegations
    Tyson paid 221 million

    Tyson Foods to pay $221.5 million to settle some chicken price-fixing claims
    (Reuters) - Tyson Foods Inc said on Wednesday it will pay $221.5 million to settle litigation by three groups of plaintiffs that accused it of illegally conspiring to inflate chicken prices.
    The settlements with so-called “end-user” consumers, commercial purchasers, and purchasers that bought chickens directly from Tyson require approval by a federal judge in Chicago.

    Tyson did not admit liability in agreeing to settle, and said the payments will be reflected in its first-quarter financial statements. (bit.ly/3irbA5a)

    The Springdale, Arkansas-based company still faces price-fixing claims by some large restaurant chains, supermarket operators and food distributors such as Chick-fil-A, Kroger Co, Walmart Inc and Sysco Corp.

    Tyson’s settlements resolve all class claims against the company in litigation that began in 2016 over alleged collusion in the $65 billion chicken industry.

    Restaurants, supermarkets, distributors and consumers accused chicken producers of having conspired since 2008 to inflate chicken prices, through tactics such as restricting production and sharing nonpublic data about supply and demand.

    Pilgrim’s Pride Corp, owned mainly by Brazil’s JBS SA, agreed on Jan. 11 to pay $75 million to settle claims by direct purchasers of chickens.

    Perdue Farms Inc and Sanderson Farms Inc are among the other defendants in the litigation. A few smaller producers have settled related claims.

    The U.S. Department of Justice last year filed criminal price-fixing and bid-rigging charges in Denver against 10 poultry industry executives. All have pleaded not guilty.

    The case is In re Broiler Chicken Antitrust Litigation, U.S. District Court, Northern District of Illinois, No. 16-08637.


    https://www.reuters.com/article/us-t...-idUSKBN29O2IK
    Last edited by jjmcwill; 02-13-2022 at 11:13 AM.

  2. #22

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    Ford Punishing Dealers Caught Price-Gouging Popular EVs

    https://www.motortrend.com/news/ford...price-gouging/


    I suppose that if demand outstrips supply and someone is willing to pay the price then its on them. On the Flip side some companies like FORD appear to care about their reputation.

  3. #23

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    The price of Oil seems to have far more to do with OPEC than any US policy. Even Trump had to pressure OPEC to produce more and keep prices down. The difference is I think Trump had a bit more success whereas OPEC basically told Biden to piss off.

    Monday’s tweet marks the return of Trump’s criticism of OPEC, a staple of his second year in office and his early political messaging before running for president.

    Trump has not tweeted about OPEC since early December, right before the producer group and 10 allied nations led by Russia defied his calls to keep pumping at high volumes. The group instead agreed to cut 1.2 million barrels per day from the market.

    The so-called OPEC+ alliance reached the deal after oil prices sank more than 40 percent in the final quarter of 2018. The group first began curbing output in 2017 to end a punishing downturn, but lifted the caps last June as oil prices hit 3½-year highs ahead of Trump’s sanctions on Iran, OPEC’s third biggest producer at the time.

    Under pressure from Trump, the producers — and Saudi Arabia in particular — hiked output through November. That month, Washington surprised them by allowing some of Iran’s biggest customers to continue importing its oil as U.S. sanctions snapped back into place. The move contributed to the pullback in prices.

    Saudi Arabia has now sharply reversed course. After its output surged to a record 11.1 million barrels per day in November, it has throttled back production to 10.2 million bpd. Saudi Energy Minister Khalid al-Falih says the Saudis will cut even further, pumping at 9.8 million bpd next month."

  4. #24

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    Biden’s actions
    Biden’s Jan. 20 executive order blocked construction of the Keystone XL pipeline and put a moratorium on oil and gas leasing in the Arctic National Wildlife Refuge in Alaska.

    The suspension of the Keystone XL, which would have helped carry Canadian oil to U.S. refineries on the Gulf coast, means the U.S. will seek more crude oil from areas such as the Middle East rather than Canada. But it doesn’t affect U.S. production, Morris said.

    A decades-long push to drill for oil in the Alaskan refuge ended in January with a lease sale in which half of the offered leases drew no bids — evidence that oil companies had little interest in drilling there. No current production was affected.

    Biden’s Jan. 27 order paused new federal oil drilling leases on public lands or in offshore waters until a review on federal oil and gas leasing policy is done.

    That order has no immediate effect on ongoing production either, and many producers have stockpiled permits in anticipation of regulations around activity on federal lands, Morris said.

    "Over a longer time horizon, a ban of new leases on federal lands or limiting permits could have negative implications for U.S. production and ultimately require oil imports to replace lost production, making the U.S. less energy independent," she said.

    "This has not happened at this point," she said. For it to happen "would probably require more from a policy standpoint tha
    n the current pause on leases."

    https://www.politifact.com/factcheck...ffect-us-ener/

  5. #25

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    Quote Originally Posted by vertical1 View Post
    And so now since Mr. ILLustrius has drawn down the Oil reserve stockpile to save face in the lack of Infrastructure Development
    i.e. Drilling more oil wells on US ground, and the price has Spiked UP, and the war sabers are rattling and Russia will be IMO
    withdrawing any oil input into the markets>>>>> IF we need that oil he used up, we are further Hosed than we were >>>
    To replace those used stores of Oil, is seemingly kind of pricey. AND we don't need no stinking pipeline [Sarc}

    Happy Happy, Joy Joy
    Please recall pre-Joe, that we were no longer Oil import Dependant
    It seems to me that this should also be considered in the Scheme of all things Oil
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  6. #26

    Default

    "Please recall pre-Joe, that we were no longer Oil import Dependant
    It seems to me that this should also be considered in the Scheme of all things Oil"

    I hear you Vert. I have been reading up on this topic literally all day. What has Joe Biden done to have an immediate effect on gas prices? I cannot find anything. He halted "new" leases. It would have taken 5-10 years for that to make any difference.

    Also, I think the oil companies are good for a while because-

    "Oil and gas companies stocked up on leases during President Donald Trump's term. More than half of the land leased by energy companies is currently nonproducing, the analysis found, "indicating declining economic demand for federal leases."


    Not only that watch this https://www.youtube.com/watch?v=w0ve-aWqR_0

    A federal Judge blocked Biden's order
    since then the administration has been issuing leases exceeding what president Trump did.

    The largest sale of oil and gas leases in history.

    WASHINGTON— New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration's first-year total of 2,658. ... “Biden squandered precious time seeking climate action from a broken Congress,” said McKinnon.

    https://biologicaldiversity.org/w/ne...aid%20McKinnon.

    A separate federal judge blocked these leases stating that not enough research had been done on the environmental impacts. https://cleantechnica.com/2022/01/31...g-grave-error/


    There seems to be a disconnect to what the Biden administration is saying and actually attempting to do in regards to oil.

    It seems that the real purpose is Dems wanting more money from oil companies.

    President Biden proposes oil, gas leasing reform, stops short of ban
    https://www.youtube.com/watch?v=kXQCIa93GL8
    Last edited by jjmcwill; 02-13-2022 at 04:08 PM.

  7. #27

    Default

    I suppose it could be that just the THREAT of Biden policy is enough to cause prices to go up somewhat.


    Here is a good debate on the subject. Not really a debate as it represents the exclusively the views of the energy side. https://www.youtube.com/watch?v=fFXwGb8fnJA

    From the debate "the industry is trying to position for an uncertain future".

    Whatever the case may be we need to get Joe out ASAP.
    Last edited by jjmcwill; 02-13-2022 at 04:43 PM.

  8. #28

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    Joe is someone's puppet IMO

    As a mineral estate owner, jj, I deal with some Oil Companies regularly, and the Lease Operators (Drillers and producers).
    That said, when Biden opened his can o worms and started his rule by Decree (Fed Register) the companies could no longer expect to
    be able to Bid for US FEDERAL owned mineral Estate lease rights. (These are obtained by Auction in Wyoming)
    This did not stop Companies from developing Fee (privately held) mineral estates.

    If an oil company has a lease with a private mineral estate owner, (in Wyoming at least in our case) They have privy to that estate
    by virtue of HOLDING that lease and they pay for a time window with options to extend that time window for same privy. Once that
    lease is secured, the companies file for Permits to Drill. Obtained from the State of Wyoming and the State holds the keys for Yea or Nay.
    We get stacks of Permit to drill applications from the companies as they must notify the mineral owner and surrounding owners in writing by State Law.
    Once a permit is issued it will render that ground un obtainium for a different company to develop those minerals.

    Hence, they try and tie up as much turf as they legally can
    Last edited by vertical1; 02-13-2022 at 05:10 PM.
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  9. #29

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    That said, in Whyoming, the Federal Government owns so much land and so much mineral estate that has
    ALREADY been developed. They could certainly authorize stepped up production on a huge scale.
    I mean they own the stuff. They could also begin CO2 sequestering by injecting massive quantity of
    the pesky green house gas they are so worried about to rejuvenate declining production and net a win / win .
    Taking it one step further and employ the presently flared natural gas into onsite bit mining portables adding one more win.

    Folks, this wretching methodology we are experiencing is largely by design otherwise known as mismanagement
    Last edited by vertical1; 02-16-2022 at 09:51 AM.
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  10. #30

    Default

    That guy is so old, I don't blame him for nothing, and I don't like any politician. My local governor is trying to buy votes by giving us $150.

    Oil will eventually be in glut again, when who knows. Don't forget only mere years ago the price on oil went to zero, then I believe negative.

    Labor problems and shortage are the result of 50 years of feminism, single parenting and a country that favors women over men, just my opinion of course. The hard work and difficult jobs is still mostly all men.

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