Fuel Rants & Raves
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Forum Discussion
ferndaleflyer wrote:
Spoiled? Really. Since we have and can produce more oil and gas than any country in the world why shouldn't it be cheaper here? It has become a cash cow for state and federal taxes and now is being used by the current administration to encourage sales of electric vehicles. Do you really think our gas & oil supplies just disappeared all of a sudden? 2 years ago we were energy independent and all of a sudden we are begging the world to sell us oil.....Where did it go?
#1 it's a worldwide market w no export limitations aka, capitalism, the highest bidder gets the product.
#2 2 years ago we were DOA w covid - did you forget that? Or the negative prices for crude and ship upon ship parked full of crude and LNG that NOBODY wanted? (Also many marginal wells were shut off at this time, producers are now unwilling to turn them on because....see #3.
#3 Have you seen the profits that the oil companies are posting now???
#4 Fuel taxes are the same now as they were 2 years ago and in some cases states have rolled fuel taxes back (just allowing the oil companies and gas stations to profit even more.)
#5 This admin pumped 180 million bbls out of the strategic reserve to LOWER prices.
