Shit-tier meme

There isn't a gasoline shortage. It's just expensive.

looooooool mega virgin

/e recent topic history on the left btw

OOf you try way to hard. You put that together all by yourself.
Fuck trading on a trading forum.
Got me there

This post was edited by theCrossbones on May 24 2022 03:14pm

how much for the Mf Gc bro ?

If demand doesn't exceed supply, why are prices so high then?

That's not the point of the meme. It says there's "no gasoline", which is far from the case. This isn't 1970s oil embargo shit.

The amount of gas accessible to the United States hasn't changed. We are an active exporter. But because it is more expensive on the International market it becomes more expensive on the domestic market.. Even though they could ostensibly sell it at the same level they were without losing money.

So you agree that prices are high because there is a gas shortage on the global markets? Cool.

Side note: the US oil industry has still not recovered from the covid dip, domestic crude oil production stands at around 11900 barrels per day, it used to be at 13000 bpd before covid. Considering the soaring prices, which are much higher than pre-covid, we would expect domestic production to pick up a lot more than it has. It seems quite plausible to me that the fossils-unfriendly policies and ideology of the Biden admin are a big factor for domestic production not picking up as much as world market prices would allow/suggest.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W

This post was edited by Black XistenZ on May 24 2022 04:06pm

Oil companies are actively avoiding doing more drilling because they know green solutions are the long term. So they are returning capital in the form of dividends instead of investing in long term drilling projects.

It's also just not trivial to ramp production on existing sites. It takes 6 to 12 months for even opec to follow through with changes to quotas. And they tend to have the easier time than things like shael oil

This post was edited by NetflixAdaptationWidow on May 24 2022 04:16pm