Gas prices

[luckydawg]

So what can be done to reduce gas prices?

Federal gas taxes are near 20 cents and most states have tax rates over 30 cents. The Biden administration could work with Congress to rescind the Federal gas taxes while working with states to enact similar measures though some states have already rescinded their gasoline taxes for a period of time.

Short term of course the US govt could release gas from the petroleum reserves but that would be very short term savings.

The administration could work with other countries to increase production.

The other fairly quick solution would be to roll back to the winter gas blend.

The Keystone XL pipeline and other domestic programs to increase production would take at least a year to provide any relief.

Are there any other solutions out there?

Well prior to 1/20/21 America was energy independent- was even exporting oil. America has enough oil if it wants to drill to supply all of our needs.
There is your answer. And the KXL pipeline would be on line by now if it wasn't whacked.

[PaulMys]

Well prior to 1/20/21 America was energy independent- was even exporting oil. America has enough oil if it wants to drill to supply all of our needs.
There is your answer. And the KXL pipeline would be on line by now if it wasn't whacked.

I'm willing to bet all of those "KEEP IT IN THE GROUND!!!!" protesters are now the biggest whiners about $6 a gallon gas.

[luckydawg]

It wont be long ( maybe less than a year ) and we will be talking about todays prices as

The good ole days

[dgage]

Do you think gas prices would be the same under Trump?

I think the price might be close but Trump would have already rolled back the taxes at the Federal level and likely forced the states to follow suit. The reality is that there are at least 3 reasons that have affected prices. I’d also have to assume the response to Russia’s invasion of Ukraine would be different but I’m not sure the end result would be materially different.

1. Summer blend always results in higher summer prices.
2. Increased demand for gas, normal summer increase plus the Covid increase due to some not traveling much last year.
3. Russian invasion and the decision to boycott Russian oil. This is the largest reason for the high gas prices. Hurting long-term but will have long-term geopolitical impacts with Russia having less global influence and control. Even if Russia takes over the Ukraine, that decision may back fire on them in the long-term in terms of their influence and control.

[dgage]

Well prior to 1/20/21 America was energy independent- was even exporting oil. America has enough oil if it wants to drill to supply all of our needs.
There is your answer. And the KXL pipeline would be on line by now if it wasn't whacked.

The US has definitely increased refining capacity since 2010 but we still import different petroleum products, especially crude oil since we now have so much refining capacity. And of course, we now export quite a bit of refined products.

There was some conjecture on whether Keystone tar sands oil would even be refined in the US since it is such a dirty and abrasive product, it would cause a lot of wear and tear on the equipment. But it would be another source of energy.

[dgage]

Increase oil production here in the us.

Looking at the comments from the large oil companies, they don’t plan on any more than 5-7% increase this year. They all seem to be taking a long-term stance and don’t like making adjustments to short-term inflationary causes.
Calls to increase US oil production mostly getting shrugs for now - FreightWaves

I dont like the strategic oil reserve idea because i feel like those in charge would be less likely to replace what they released. You see how loosly they spend our tax dollars, so it makes ya wander about replacing the oil.

I agree.

One problem is, is that some folks want to rid us of fossil fuels. And rely on green energy. Maybe green energy could assist the power grid but its cant be the only way we get power.

We’re in a transition period and the shift away from fossil fuels needs to happen long-term but it won’t happen over night. Green energy needs a lot of technological growth in supporting areas before it will be ready to take over. Same way with the shift to electric cars; they’re getting better but aren’t ready to replace ICE vehicles yet.

[luckydawg]

Forced transition is what our elected globalist leaders are doing
I dont care about anything "green" & if I did have an inkling before, forcing it on me has had a negative effect.

Get me a "green" car that I can travel like my gas car-- any distance any time, for less than 40K ( affordable ) & I am on board

[Klasse Act]

Well prior to 1/20/21 America was energy independent- was even exporting oil. America has enough oil if it wants to drill to supply all of our needs.
There is your answer. And the KXL pipeline would be on line by now if it wasn't whacked.

Just facts right here...how and why would any American let this happen

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[Coatingsarecrack]

Do you think gas prices would be the same under Trump?

What could have Trump done to keep it lower? Gas is crazy expensive across the globe due to recession and war…. Maybe cap gas tax but we would just pay it somewhere else.


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[vobro]

What could have Trump done to keep it lower? Gas is crazy expensive across the globe due to recession and war…. Maybe cap gas tax but we would just pay it somewhere else.


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Not a Trump fan but I’m pretty sure he wouldn’t have hit our oil sector in the knee caps on his very first day like this guy did, pretty sure the Saudis would at least return his call unlike this guy and I’m pretty sure he’d go less than 118 days without doing an interview. I think Trump would be more available for questions which brings pressure and with him being narcissistic I’d bet he’d at least try to do something. This current administration keeps telling us don’t believe what your eyes see and nobody I know gets any hope or inspiration from Biden