Biden’s Gas Crisis

[aygart]

Speculation seems to be the issue.

The one factor not mentioned by the EIA

https://www.eia.gov/todayinenergy/detail.php?id=51578

[aygart]

So not taking the call was like a spoiled child?
https://www.msn.com/en-us/money/markets/oil-prices-tumble-after-uae-says-it-wants-opec-to-increase-production/ar-AAUQMMi?ocid=msedgntp

Here is someone who said he would take the call but it hasn't come

https://www.bloomberg.com/news/articles/2022-02-28/devon-ceo-mystified-that-biden-doesn-t-reach-out-to-talk-oil

[avromie7]

https://www.spglobal.com/commodity-insights/en/market-insights/latest-news/natural-gas/030822-ceraweek-biden-ban-on-us-imports-of-russian-oil-and-products-makes-sense-in-short-term-conocophillips-ceo

I came up with a better idea, we should tax Russian oil at something like $75 per barrel. It will allow the Russian oil to make it to market thereby reducing oil prices but also keep their income from oil very low because they will be forced to sell it for $75 below market price.

[aygart]

I came up with a better idea, we should tax Russian oil at something like $75 per barrel. It will allow the Russian oil to make it to market thereby reducing oil prices but also keep their income from oil very low because they will be forced to sell it for $75 below market price.

Do you mean tariffs?

[CountValentine]

I came up with a better idea, we should tax Russian oil at something like $75 per barrel. It will allow the Russian oil to make it to market thereby reducing oil prices but also keep their income from oil very low because they will be forced to sell it for $75 below market price.

Except that is not how it will play out. It will increase prices for us.

Do you mean tariffs?

[aygart]

Except that is not how it will play out. It will increase prices for us.

I am not sure if would because of their low market share.

[avromie7]

Do you mean tariffs?

Yes.

Except that is not how it will play out. It will increase prices for us.

Russia will need to drop the price on their oil by $75 per barrel in order to sell their oil.

[avromie7]

I am not sure if would because of their low market share.

Europe can do it too, they need Russian oil more than we do.

[aygart]

National Review: Biden & Russia: Energy-Policy Bind.
https://www.nationalreview.com/2022/03/bidens-energy-policy-bind/

I did not check through the numbers here, but his premise is an interesting one. He claims Russian market  share has risen to make up for the sanctions placed on Venezuela.

[CountValentine]

Yes. Russia will need to drop the price on their oil by $75 per barrel in order to sell their oil.

You might want to read up on tariffs.

[aygart]

You might want to read up on tariffs.

Even with a small market share? Haven't found that.

[CountValentine]

Trying to find at what capacity we are at with production. Have we reached 90%+ or we at 50%? Does anyone know?

[CountValentine]

Even with a small market share? Haven't found that.

It will effect prices proportionately.

[avromie7]

It will effect prices proportionately.

It should have a significantly smaller effect than an outright ban while allowing Europe who needs the Russian oil to participate in the sanctions.

[CountValentine]

It should have a significantly smaller effect than an outright ban while allowing Europe who needs the Russian oil to participate in the sanctions.

When you have a global market it will not effect Russia and will raise prices in the US. Now if you could get everyone who buys oil from Russia to agree then it would be a different story.

What about taxing all imported oil? Force us to look/invest into other energy sources.

[aygart]

Do we need a fact check here?

PolitiFact: Ask PolitiFact: Why are gas prices going up?.
https://www.politifact.com/article/2022/mar/09/ask-politifact-why-are-gas-prices-going/

CNN: Why US gas prices are at a record and why they'll stay high for a long time.
https://www.cnn.com/2022/03/09/energy/record-gas-price-causes

[aygart]

What about taxing all imported oil? Force us to look/invest into other energy sources.

We already are at an amazing rate

[aygart]

It will effect prices proportionately.

Is that clear? Do you have anything to back up that assertion?

[avromie7]

When you have a global market it will not effect Russia and will raise prices in the US. Now if you could get everyone who buys oil from Russia to agree then it would be a different story.

What about taxing all imported oil? Force us to look/invest into other energy sources.

I'm not following your logic, Russia will be forced to sell its oil a major discount to remain competitively priced. Their oil will be on the market thereby keeping prices down, but they won't be able to make all the money from it.

[CountValentine]

Do we need a fact check here?

Was written for me. 

IF YOUR TIME IS SHORT
Russia’s attack on Ukraine has raised prices for two reasons: War makes markets worry, and the U.S. and Europe are doing what they can to cut their use of Russian energy, which shrinks available supplies.

The war alone isn’t driving up prices. They were rising earlier as the world economy recovered from the pandemic slow down.

After the pandemic, supplies lagged behind demand due to supply chain hurdles and a tight labor market.

1 - War effects the markets. US can get supplies else where.
2 - Seems right.
3 - We can't blame this forever.