Snopes: Gas prices really arn't the president's faul

FAUlty Gator

HR Legend
Oct 27, 2017
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No... Putin and Covid are still contributing factors. Do you have a quote where Biden said there is nothing that he can do?
Sometimes I feel like I’m the only one who pays attention.

Biden says there's nothing he can do to bring down gas or food prices in the near term​

 

Hawgk

HR MVP
Gold Member
Aug 8, 2013
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This part is really important.

It’s also misleading to say that the United States can’t produce enough oil domestically to meet demand due to government restrictions. A recent survey of U.S. oil producers found that the majority of companies cited “investor pressure” as their reason for not expanding production. Only 6% of those companies cited government restrictions. CBS News reported:
What Snopes and yourself either ignore or fail to understand is that legislative risks carry significant weight in “investor pressure”.

Signing executive orders to kill projects and threatening windfall taxes on profits is no way to bring investors back to the oil and gas space.
 

Flie

HR All-American
Nov 2, 2001
2,865
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Sometimes I feel like I’m the only one who pays attention.

Biden says there's nothing he can do to bring down gas or food prices in the near term​


I paid attention. That's a headline. This is a quote.

""There's a lot going on right now but the idea we're going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term. Nor is it with regard to food,""

Was he wrong? He had already taken some action prior to that.
 

Tom Paris

HR Legend
Gold Member
Oct 1, 2001
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I paid attention. That's a headline. This is a quote.

""There's a lot going on right now but the idea we're going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term. Nor is it with regard to food,""

Was he wrong? He had already taken some action prior to that.
Especially when both things the Democrats have tried get filibustered. So Republicans bitch about prices and then vote against lowering prices. Because they are actively trying to make the country fail to regain power.
 

Rifler

HR Legend
Jan 26, 2011
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Are Presidents responsible for gas prices? Yes or no? Or are you back to only Democrat presidents can be blamed?

All presidents will bear responsibility for everything bad that happens on their watch,... It's not right, but it's a reality of the job.
 
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86Hawkeye

HR Legend
Gold Member
Dec 12, 2001
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This is exactly accurate. Oil Companies do not trust the administration for good reason. They have proven to not care about the oil companies' future earnings when they make random policy changes. These companies have investors/stockholders that expect them to be good stewards of the cash.
Why trust a political party and POTUS that declare war on you?
 
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Hammer93

HR All-American
Nov 6, 2001
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1-Oil companies pay a lot of money for lobbyists to ensure they are okay regardless of the party in charge.

2-“Proven not to care about oil companies’ future earnings” can also be rewritten as “has weighed the impact of reduced oil companies future earnings against the impact of climate change, trade, and other factors”.

3- the investors expect returns. All investments have risk, including regulatory risk. Oil co. mitigate That risk via lobbying.

is your argument that the concerns of the oil industry should be of paramount concern?
4.) Expect $4-$8 per gallon of gas unless policies benefit both Gov't and Private Companies.
 

Hammer93

HR All-American
Nov 6, 2001
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if we removed oil subsidies that’s what we would be paying. Let’s end oil subsidies all together and let the free markets win.
I have no issues with that at all, but it would need to be accompanied by ending regulations as well.
 

Fijimn

HR Legend
May 7, 2008
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I have no issues with that at all, but it would need to be accompanied by ending regulations as well.
You mean go back to the old days where they would just dig a hole for the drilling mud then leave it there once the well was capped....or run off the brine into the nearest pond or lake
 

alaskanseminole

HR Legend
Oct 20, 2002
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Weird. I said this before but I learned from Rex Tillerson when he was CEO at Exxon Mobil back when gas prices skyrocketed under W. When Rex said he wasn’t beholden to the American people. He wasn’t at his job to make us happy. He was in his job to make shareholders happy. I learned right there that gas prices weren’t Bush’s fault.
I've never understood why there needs to be some line in the sand. One side is "it's NOT the President's fault" and the other side is "it IS the President's fault". There are a lot of moving parts when it comes to gas prices and yes, government policy plays a role as do a myriad of other components outside his control/influence, etc. It's a multi-billion dollar business that literally fuels the world.
 
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Colonoscopy

HR All-American
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Yeah, but if it was a different president that they didn't like as much they'd be all like "Gas Prices And The Presidency: It's Complicated"
 

Colonoscopy

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My question has always been: Who is fact-checking the fact-checkers? How did they become the supreme arbiters of truth?
From what I've seen the biggest problem with these guys is selective fact checking. So they ultimately just become contributors to the same echo chamber that helped build them.
 
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isuisshit

HR MVP
Sep 19, 2021
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Who would have thought ending energy independence would increase gas prices!!!! Also, who would have thought printing money endlessly would cause inflation!!!!
 

BanjoSaysWoof

HR MVP
Dec 2, 2017
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Biden

Fuhrer Biden

so to be clear, your argument is that in 2015 we were energy independent? And in 2009? And 1998? And so forth?

We’re in the part of the book “1984” where people fail to do any recollection of the past. It’s like 98% of the worlds accumulate knowledge isn’t available on your phone or something.
 

isuisshit

HR MVP
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Was the US engery independent under trump.....yes or no? Was inflation under control under trump, yes or no.
 

BanjoSaysWoof

HR MVP
Dec 2, 2017
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Was the US engery independent under trump.....yes or no? Was inflation under control under trump, yes or no.


apparently energy independent before trump. So are you praising Obama?

Inflation and the president… oh boy… Want to read up on basics of economics and try again? Nothing advanced. Literally try with the basics at your local community college. Anything is an improvement from where you stand now.
 

isuisshit

HR MVP
Sep 19, 2021
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apparently energy independent before trump. So are you praising Obama?

Inflation and the president… oh boy… Want to read up on basics of economics and try again? Nothing advanced. Literally try with the basics at your local community college. Anything is an improvement from where you stand now.
So biden printing money endlessly since he took office has zero effect on inflation huh? You might want to attend the same economics course you recommended I take since you failed it the first time around.
 

Jan Itor

HR Legend
Jan 31, 2009
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This part is really important.

It’s also misleading to say that the United States can’t produce enough oil domestically to meet demand due to government restrictions. A recent survey of U.S. oil producers found that the majority of companies cited “investor pressure” as their reason for not expanding production. Only 6% of those companies cited government restrictions. CBS News reported:
I think most people understand the President has little to do with the price of gas. I know there are those on this board blaming Biden. I also know there are those on the board that blame a Republican President when they’re in the WH.

It’s the cat and mouse kid’s game being played.
 
Nov 28, 2010
79,709
32,911
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Maryland
What Snopes and yourself either ignore or fail to understand is that legislative risks carry significant weight in “investor pressure”.

Signing executive orders to kill projects and threatening windfall taxes on profits is no way to bring investors back to the oil and gas space.
Whereas you and your ilk ignore the climate crisis.

You win the "dangerously stupid" award.
 
Nov 28, 2010
79,709
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Maryland
So biden printing money endlessly since he took office has zero effect on inflation huh? You might want to attend the same economics course you recommended I take since you failed it the first time around.
"Printing money endlessly" doesn't necessarily cause inflation. Consider the Iraq war. Consider the stimulus packages to combat the 2008 GOP Recession.

Which is not to say that it isn't part of the problem this time. Just that your economic admonition is overly simplistic.
 

Hawgk

HR MVP
Gold Member
Aug 8, 2013
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Whereas you and your ilk ignore the climate crisis.

You win the "dangerously stupid" award.

Link to me ignoring climate change? I don’t ignore it, but bad energy policy leads to humanitarian and economic crises. I take it you aren’t paying attention to what’s happening in Germany?

You win the “even more dangerously stupid” award. Your prize is a free tank of gasoline at the nearest oil wellhead.
 

joelbc1

HR King
Gold Member
Sep 5, 2007
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you can’t always get what you want!
Was the US engery independent under trump.....yes or no? Was inflation under control under trump, yes or no.
Trump’s financial policies (tax cut and encouraging the FED to maintain artificially low interest rates) certainly were major factors in allowing this inflation to occur. Also, some of his “Covid policies” entered into the economic slow-down/shut down in the US, too…inflation has not been under control since the housing/mortgage crisis that started in about 2004. Obama probably should have started “breaking” the economy in about 2012 or so and Trump should have bumped taxes instead of cutting them when he did. But Trump and his people “knew better” and failed to let the Fed do their job as they saw fit.
However, the major cause of today’s mess is probably “the international supply chain” and most of that fault lies with China and Asia. Their handling of Covid has been wrong at every turn…and continues to be.
 

Speedway1

HR Heisman
Dec 23, 2012
5,311
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Trump’s financial policies (tax cut and encouraging the FED to maintain artificially low interest rates) certainly were major factors in allowing this inflation to occur. Also, some of his “Covid policies” entered into the economic slow-down/shut down in the US, too…inflation has not been under control since the housing/mortgage crisis that started in about 2004. Obama probably should have started “breaking” the economy in about 2012 or so and Trump should have bumped taxes instead of cutting them when he did. But Trump and his people “knew better” and failed to let the Fed do their job as they saw fit.
However, the major cause of today’s mess is probably “the international supply chain” and most of that fault lies with China and Asia. Their handling of Covid has been wrong at every turn…and continues to be.
Sounds like @joelbc1 should run for POTUS....
 

joelbc1

HR King
Gold Member
Sep 5, 2007
73,766
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you can’t always get what you want!
Sounds like @joelbc1 should run for POTUS....
You don't have to be brilliant to be POTUS....you just have to ask others what to do. Trump is absolutely the least qualified man to run for POTUS in my lifetime........and those who voted for him need to have their phuquin' heads examined. Trump is the "anti-Christ" for a democratic Republic like ours. Other than Putin or Xi or Orban, there are few living leaders less qualified to run a democracy.
 

Keehawk

HR Heisman
May 24, 2011
5,311
5,001
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Trump’s financial policies (tax cut and encouraging the FED to maintain artificially low interest rates) certainly were major factors in allowing this inflation to occur. Also, some of his “Covid policies” entered into the economic slow-down/shut down in the US, too…inflation has not been under control since the housing/mortgage crisis that started in about 2004. Obama probably should have started “breaking” the economy in about 2012 or so and Trump should have bumped taxes instead of cutting them when he did. But Trump and his people “knew better” and failed to let the Fed do their job as they saw fit.
However, the major cause of today’s mess is probably “the international supply chain” and most of that fault lies with China and Asia. Their handling of Covid has been wrong at every turn…and continues to be.
Everybody but the current president. Fantastic work here.
 

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