I saw conservatives posted the lie that Biden cut oil production. NOPE. It is up in the US. Here is just one article with figures on shale oil.
This issue is a good bit more complicated than a president that shut down a pipeline. In reality the oil and Natural Gas extracted, here domestically, pale in comparison to the other OPEC nations. Most of our oil comes from the middle east. The US has tried for decades to usurp Venezuelas government so we could gain unilateral control of one of the largest oil reserves in the world. All attempts thus far have, thankfully, failed. Opec agreed to cut production to deal with their own crisis due to Covid 19. Global demand for fossil fuels is starting to drop. Biden, taking a minor stand against Exxon Mobil, Shell, BP, Texaco are really token expressions more or less. They make their money regardless and he gets to say he did this or that to combat climate change. When in reality none of that really made much of an impact because the miitary, & large corporations such as power and manufacturing are the biggest polluters in the country. They have largely went along as business as usual minus the covid impact. Their collective energy policies are wasteful and we wind up picking up the tab. People love to bitch, moan, gripe, and complain about the president regarless of who it is. The catch the blame whether they deserve it or not. The simple facts are, pipelines close all the time for various reasons. Some due to natural disaster. Some for scheduled maintenance and others for safty or political reasons. The latter is the most volitile in our society because it is often met with punitive spikes in crude prices that otherwise would have never rose to that extent. It is capitalism at its finest. Nothing has come close to the George Bush era of gas prices where I was paying close to 5 dollars a gallon for regular unleaded in NC. Cali was much higher. As far as shipping concerns go, most of the isues can be traced back to California where they shut down the ports for covid then reopened them for only 8 hours and all the trucks have to be 2011 or newer to operate there. Truckers are very upset and many owner-operators cannot afford a new truck to meet cali's demands and the warehouses cannot move enough stock to keep up with demand because there are not enough trucks available. This means there is about 60 or so freighters sitting in the pacific ocean waiting to get to port. This is creating a heafty backlog of goods. My opinion is the president should have ordered the ports on the east coast to open to pacific vessels and route them through the Panama Canal. As is estimated right now, it will be late 2023 to 2024 to get all the goods off those freighter. Most states on the east coast that have ports are not as restricted as cali is. So that would speed things up and lower the inflation a bit. Its not a cure-all but its a damn good start to alleviate the strain on our supply chain.
It's not a lie. Oil production is still below pre-covid levels:
12,966,000 barrels were pumped in November 2019 when oil was $59 per barrel
10,809,000 barrels were pumped in September 2021 when oil was $76 per barrel
When the price goes from $59 per barrel to $76 per barrel, you would expect a lot more oil production to come on line and you would expect more than 12,966,000 barrels per month to be pumped in September 2021.
The shortfall is entirely due to Biden Administration policies that are hostile towards oil production and oil transport in the USA.
Did he cut oil production??
@JeffMurray Yes, he took measures to reduce oil production almost the day he took office:
Then he shut down multiple pipelines:
If you can't drill for oil, and you can't transport the oil, you are not going to produce as much oil.
@BD66 Fair enough. I agree that Biden enacted policies that were hostile to oil production. Don't know if I think that's a bad thing though. I spend maybe an extra $10-15 a month compared to a year ago. If that reduces climate effects that save me the same or more later in other costs, sounds like a decent deal.
@JeffMurray I burn about 500 gallons of fuel per year in my car. If gas is $1.50 per gallon more expensive, that's about $750/year or $62.5 per month, but that's just the start. A large portion of what you pay for most everyday items is the transportation costs involved in getting them to the store you shop at or getting them delivered to your door. So higher fuel costs increases the price of almost everything. We're currently paying 6.2% more (on average) for what we need to live than we did a year ago. The inflation rate has not been this high since October 1990, when Saddam Hussein invaded Kuwait and put the world's oil supply in jeopardy. We went to war to stop him. Now we have a President who is unilaterally doing it to the USA. [usinflationcalculator.com]
@BD66 Again, that's not the only concern. If the financial effects of the existential crisis of global warming are softened as a result of these policies, we might be saving a certain percentage of money not losing it. I just don't know. Not sure it really matters to me, specifically, though as I'll likely be dead before I run out of money regardless of the gas prices, have no offspring, and don't give a fuck about all the horrible people that will be left on this shit planet when I go.