VERIFY: How gas prices in the U.S. compare to other countries
U.S. gas prices are lower than many industrialized countries thanks to our lower tax rate. Globally, the U.S. falls in the middle range for price at the pump.
Paid $6.95 for milk yesterday, these crazy gas prices are translating to food and things are getting worse. I think stores better have tight security because when people can't afford to feed their families, things might get ugly.
That's interesting, I had a Republican tell me yesterday that gas prices are ONLY high in the U.S. because of Biden. I didn't want to hurt his ego so I just told him he was right and went on.
I cannot afford over $2.40/G. Now my car sits in the parking lot 2 weeks at a time and I only drive to get groceries because no one is hiring for livable wages of $30/Hour and up to catch up with high cost of living and suicide inflation!
The truth is that the U.S. is the largest oil producer on the planet and could easily produce enough to drive down prices. U.S. oil producers were producing 18 million barrels a day prior to the pandemic. Today, they are producing approximately 8.5 million barrels a day. We have a huge amount of production capacity sitting there offline that could be brought back online in a couple of weeks time.
The head of the largest U.S. oil producing company admitted during an interview with Andrew Ross Sorkin on CNBC (aired in part on December 7, 2021 Squawk Box morning show) that U.S. producers have plenty of production capacity they are refusing to bring back online because they want to hurt the Biden Administration. When Sorkin asked the jerk if he had any obligation to his country or the world economy trying to recover from a 2-year pandemic, the response was, "our only obligation is to our shareholders."
Energy is the number one cause of inflation. If the U.S. oil producers brought back production to pre-pandemic levels, prices would drop to nearly $2.00 per gallon in just a few weeks. Prices throughout the economy would drop due to lower transportation costs. Inflation would drop back down to normal levels.
We are all being held hostage by a bunch of oil companies who are experiencing record profits (follow the money) while doing their best to make voters angry at Biden and the Democrats and hoping they will be voted out. No industry should have that much power over our economy or our political system. People should also understand that high oil and gas prices enrich Russia and OPEC at the expense from the rest of us.
The U.S. government should use its Emergency Powers to do some drilling and replenishing of the Strategic Oil Stockpile and constantly releasing from that stockpile into the market to drive down prices. That would force the oil companies to treat us fairly because they could no longer conspire together to act as a duopoly.
14 Comments
Don't care what other places pay
Paid $6.95 for milk yesterday, these crazy gas prices are translating to food and things are getting worse. I think stores better have tight security because when people can't afford to feed their families, things might get ugly.
Other countries charge by the liter, where the States charge by the gallon. There is fuel lost in translation.
Biden sucks balls 🏀🏀🏀
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.
Yes please raise these gas prices. I'm loving less cars on the road, cleaner air, etc. I want to see $10.00 per gallon in California
That's interesting, I had a Republican tell me yesterday that gas prices are ONLY high in the U.S. because of Biden. I didn't want to hurt his ego so I just told him he was right and went on.
How about comparing the Price of Gas to pre OPEC and Government taxation
$0.30 a gallon.
I cannot afford over $2.40/G. Now my car sits in the parking lot 2 weeks at a time and I only drive to get groceries because no one is hiring for livable wages of $30/Hour and up to catch up with high cost of living and suicide inflation!
Is there any links to there sources?
America first agenda don't care about what other countries pay we had $1 a gallon
hey DONT INVADE VENEZUELA!!!!! dont u dare INVADE VENEZUELA
The truth is that the U.S. is the largest oil producer on the planet and could easily produce enough to drive down prices. U.S. oil producers were producing 18 million barrels a day prior to the pandemic. Today, they are producing approximately 8.5 million barrels a day. We have a huge amount of production capacity sitting there offline that could be brought back online in a couple of weeks time.
The head of the largest U.S. oil producing company admitted during an interview with Andrew Ross Sorkin on CNBC (aired in part on December 7, 2021 Squawk Box morning show) that U.S. producers have plenty of production capacity they are refusing to bring back online because they want to hurt the Biden Administration. When Sorkin asked the jerk if he had any obligation to his country or the world economy trying to recover from a 2-year pandemic, the response was, "our only obligation is to our shareholders."
Energy is the number one cause of inflation. If the U.S. oil producers brought back production to pre-pandemic levels, prices would drop to nearly $2.00 per gallon in just a few weeks. Prices throughout the economy would drop due to lower transportation costs. Inflation would drop back down to normal levels.
We are all being held hostage by a bunch of oil companies who are experiencing record profits (follow the money) while doing their best to make voters angry at Biden and the Democrats and hoping they will be voted out. No industry should have that much power over our economy or our political system. People should also understand that high oil and gas prices enrich Russia and OPEC at the expense from the rest of us.
The U.S. government should use its Emergency Powers to do some drilling and replenishing of the Strategic Oil Stockpile and constantly releasing from that stockpile into the market to drive down prices. That would force the oil companies to treat us fairly because they could no longer conspire together to act as a duopoly.
ok can someone now fact check the news.