Yeah. I am pretty sure there are people who think the President sets the price of a gallon of gasoline with Executive Order.
US Oil Production..
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Bought gas at Sam's in Tupelo at 1.50 on the Sunday before Biden was sworn in......the next Sunday gas was 2.50.Gas prices were higher in 2020 when Trump left, even though prices plummeted due to covid, than in 2016 when Obama was leaving.
Gas prices heading into 2020 were expected to be higher than Obama's last 2 years in office, which would have made every year of Trump's term higher than Obama's last 2 years.
Gas prices consistently increased under W Bush.
Gas prices were lower when Obama left than when he took office, even though they dropped when he first took office.
Gas prices are straight up high under Biden.
In current dollars, gas under W when he left was $4.72/gallon.
Current US average is $3.39/gallon.
Figured I would inject some actual numbers into the conversation.
I have decided it is foolish to credit or blame presidents for the price of gas at any given point in time. There are simply too many external influences to honestly say 'Obama should get credit for these low gas prices' or 'Trump should be blamed for gas prices increasing!'.
I am pretty sure there are people who don't think an anti fossil agenda by an administration has any affect on energy prices.
The "what did the democrats do to cause the price in gasoline to rise" crap is simply crap....dumb crap.
Yeah.
All you need is the US Government to commit to building enough refineries because you know that businesses won’t do it.
Should be an Easy Fix. **
(And I’m PRO-US Oil Production)
It’s almost like Obama did something about it so he could help elections.Gas prices were higher in 2020 when Trump left, even though prices plummeted due to covid, than in 2016 when Obama was leaving.
Gas prices heading into 2020 were expected to be higher than Obama's last 2 years in office, which would have made every year of Trump's term higher than Obama's last 2 years.
Gas prices consistently increased under W Bush.
Gas prices were lower when Obama left than when he took office, even though they dropped when he first took office.
Gas prices are straight up high under Biden.
In current dollars, gas under W when he left was $4.72/gallon.
Current US average is $3.39/gallon.
Figured I would inject some actual numbers into the conversation.
I have decided it is foolish to credit or blame presidents for the price of gas at any given point in time. There are simply too many external influences to honestly say 'Obama should get credit for these low gas prices' or 'Trump should be blamed for gas prices increasing!'.
Put them all in the Mississippi Delta **
People don’t live there anymore **
#BingleRespondsEnvironmentalRacismOnLine1
Ice went over $5 a bag right after Katrina too
Even if you took out the environmental red tape does anyone think that private money is willing to make the capital investment in a world continuing to increase its reliance on electric vehicles? Lots of uncertainty there so I would think the natural inclination is for businesses to grow refining capacity as slow as possible, if at all.
It won’t factor in the election, but it makes it easier to pay for groceries. Some things have come down with Covid “rebound“ but not enough to offset the total cost increase.
Interesting read
Governments plan to produce double the fossil fuels in 2030 than the 1.5°C warming limit allows
Stockholm, 8 November 2023 – A major new report published today finds that governments plan to produce around 110% more fossil fuels in 2030 than would be consistent with limiting warming to 1.5°C, and 69% more than would be consistent with 2°C.
I think it’s a combination of all of them…sky high cost to build, a mile long list of regs, and the not in my backyard mentality.
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Ok, so if we project this reasoning onto W, Trump, and Biden...why didnt they also 'do something about it' if they can just decide to act and things change?
See your chart.
Prices actually stayed down under Trump. The sky rocketed under Biden. Clearly that had nothing to do with his parties views on fossil fuels.
Gas Station Price Charts - Local & National Historical Average Trends - GasBuddy.com
Compare gas and crude oil prices over time for the US Average, Canada Average, and your hometown. View charts for the past month to 10 years.
www.gasbuddy.com
But it really didn’t. Supply and Demand 101See your chart.
Prices actually stayed down under Trump. The sky rocketed under Biden. Clearly that had nothing to do with his parties views on fossil fuels.
Gas Station Price Charts - Local & National Historical Average Trends - GasBuddy.com
Compare gas and crude oil prices over time for the US Average, Canada Average, and your hometown. View charts for the past month to 10 years.
Maybe I’m missing something but the red line is lower than the blue line.
scUM engineers(guffaw) drive the vacuum trucks sucking out tank bottoms.
Biden sold off the SPR for a temporary reduction in gas prices ahead of the midterm elections.
It’s still supply and demand. There was a glut of domestic and OPEC oil during the Trump years and then you get Covid toward the end that obliterated demand. If you want to go more in depth I can but I honestly don’t want to because it’s not going to change your mind anyway.
But why was there a glut? That certainly can be attributed to a president. Not saying Trump did it but he could have.
I understand supply and demand.
All I know is I could afford groceries under the previous president.
Yeah, prices were cheaper then.
There’s been a lot of workplace turnover in the past three-plus years. My previous office had nearly a dozen people in it in 2020.
Only four of those folks are still there. The ones who left (including myself) wanted new opportunities because of many reasons— including increased costs.
Last I heard there had been no new refineries built in the US in decades....but capacity had doubled. There's a ton of red tape in building a new refinery, but nearly none in adding on to an existing one. Big Oil has all the refinery capacity it wants.
They can build one in my backyard if I can fill up the family vehicles for free.
Bluntly- this willfully ignorant view is, in large part, why misinformation and bad actors are able to retain a stronghold in social and political issues, since economics are inherently social and political in this country.
If all you are willing to think about and understand is a basic observation that 'things were cheaper', then you are doing yourself and all those around you a huge disservice.
It takes effort to look into the 'why' of things. And it takes effort to understand the often complex answers that comes from looking into the 'why'.
If looking further and understanding deeper isn't done, then all we get is 'well X was better before', and people think there is then some correlation when actual details may show otherwise.
At the same time, yeah, sometimes things were better/worse under a different president and it can be tied directly to policy or action.
In this case though, the fact that things cost more now than 3 years ago is an incredibly complex issue.
It involves economies from other countries, labor markets and wage adjustments, Fed policies, and decisions made by that other president you mentioned.
To boil all that down to 'things were better before' is unfortunate because it doesn't accurately identify root causes.
My goodness, the previous president fought like mad to continue to surpress interet rates well past when they should have increased, and that's long before the pandemic started. He didn't want the good times of free money to end because he knew what would happen to his support if rates did increase. We are, in part, feeling the hit now that we should have felt back in the teens.
And how about all the Trump Checks that went out to everyone, regardless of if they even needed it? That money has to be accounted for somehow, and that plus the subsequent checks are being accounted for now.
It was well discussed back in the teens before covid that the US can't keep operating with low inflation and near 0 interest. It was known before all this happened that things would flip because they had to flip. You can't just go on forever with the good times and not have adjustments/corrections.
Well here we are- in a long predicted adjustment/correction.
The chart I added to this conversation was my attempt to help show that there is not some easy 1 to 1 direct relationship between Party affiliation and gas price.
W- Republican in every sense of the word who was even from Oil Country, and gas prices rose thru his 8 years. Adjusted for inflation, prices when he left were crazy high.
Obama- Democrat that spoke about green energy and was accused of hating Big Oil, and gas prices rise then fell in his 8 years.
Trump- Republican? that claimed all sorts of things about how he was great for Big Oil(but didn't claim anything about being good for users of oil), and gas prices were higher when he left than they were when Obama left.
Biden- Democrat, and prices are straight up high, just like most everything. Coming out of an excessive number of years with low inflation and low interest kinda impacts things a bit. Domestic production is up under him, apparently.
There is no direct correlation between the party that is sitting in the oval office and the price of gas. If there were, then it would always consistently fall under R and rise under D.
Crazy- but outside influences exist and also impact the price of gas. Each of the 4 presidents I mentioned have had to deal with these outside influences.
War, financial collapse, recession, war, pandemic, recession, war.
Wild that outside factors can influence things, right?
NIMBY & GET OFF MY DAMB LAWN 17ERS. NO MORE YANKEES AND REVENOOERS INVADING MY MIS'IPPI
I don't think so. Let's put it this way: again, refinery capacity doubled without a new refinery being built. While it is plausible that red tape is hindering construction of new refineries, it is not plausible that red tape is hindering increasing capacity at existing ones, because we have already observed it massively happen.
Bush - had a war to deal with and had an impact on prices; he’s also from oil country so high gas prices helped a lot of people he knew and him
Obama - gas prices dropped early (likely bc of recession) then they went back up to same prices as end of Bush’s term; then dropped closer to electiob
Trump - gas prices were consistently lower than both of the previous 2 especially when you consider inflation and the historical trend;
HE MAY HAVE HAD LITTLE INFLUENCE ON THAT BUT THATS A FACT
Biden - high as **** while production was down; now production is up and prices are coming down; also time for reelection
We can Argue the why? I think the president can influence economy and gas prices. Might not be a lot but they definitely can help.
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Yeah. People know the theory.
But that doesn’t stop them from grousing when the change occurs.
We’ve all seen the threads here about higher prices and the tip economy expanding (frankly— deservedly so because there ain’t as many service economy folks as before— I just happen to be in the very fortunate position of my take home pay increasing substantially enough this year that I don’t mind tipping a little extra).
Unfortunately preacher_dawg is unlikely to be called by a congregation of rich folks to serve as their minister…
His truth is different and also true.
Gas prices vary.
The gulf coast states historically have the lowest prices.
And when I was traveling through Illinois last summer and seeing gas was well over $5 per gallon… $1 more than in Mississippi at the time. You notice things like this.
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